World Markets Nosedive, Emergency Meeting Called By Thai Finance Minister

[kedawi]

Im going to invest in 2 things..

arms - for the war with Russia

and property in Pattaya - why?

I can see thousands of middle-aged men all over the western world losing their savings/shares/pensions - all they have left is a severely devalued house., and they're goping to say to themselves...

"fuc_k it, I've had enough, I'm going to sell up take what's left and shag myself to death in Pattaya!"

Edited October 10, 2008 by kedawi

[Marvo]

Great time to invest - only need to figure if things will go lower or not.

I'm no market guru, but isn't that the general principle anytime

[sriracha john]

At midday... an 8% drop

SET

459.91 - 40.08

[philstone]

At midday... an 8% drop

SET

459.91 - 40.08

Now is the time to invest no need to be cowards. Remember Phil's advice people on this board like Thai stocks when Set 1000. This is a bargain your children and wifes family.

I am glad to say took down a large amount of stock today onward to greater riches.

[Old Man River]

At midday... an 8% drop

SET

459.91 - 40.08

Now is the time to invest no need to be cowards. Remember Phil's advice people on this board like Thai stocks when Set 1000. This is a bargain your children and wifes family.

I am glad to say took down a large amount of stock today onward to greater riches.

We are buying as well, but let's be real about this. Foreign flight is the primary reason for the drop and because of the global market meltdown, they are not going to be back soon. Anyone buying must be able to hold on for more than one year before selling, unless they are willing to sell at a loss.

[Bruce1]

I see Warren Buffet has just invested some $5 billion in bluechip stocks, as a long-term investor, so he sees bargains.

I just sold my Aussie house for a 25% profit over 4 years. And signed to buy a smaller house at a 10% cut on the advertised price. My bank is behind me all the way. So its not all bad news out there.

However, America's debt binge may finally be coming to an end, which is long overdue. You can't lend to people who can't repay and expect to just keep playing 'pass the parcel' with the debt indefinitely. Sooner or late, someone has to drop the bundle.

As for politics, the American presidential election is rubbish and should be ignored. Neither McCain nor Obama can deliver on their promises. Forget tax cuts, forget big spending, they'll be lucky to get the budget back into balance within 4 years, after the irresponsibility under Bush.

By contrast, the Aussie Government has NIL (I repeat NIL) net debt, a big sum stacked away in a Future Fund and the Big Four Aussie banks (the National, ANZ, Westpac and Commonwealth) are in the top 20 in the world for being capitalised and having low mortgage default rates. Australia just led the way with a 1% interest rate ut and inflation is low, so we should ride out the storm.

Commodity prices have fallen because ignorant people think China's growth might slow as America stalls, but China's internal consumption is so great the predicftion is its growth will fall on ONLY 9%, which i s still huge. And the big Aussie commodity suppliers like BHP Billiton and Rio Tinto have locked in their prices years ahead, so they'll be fine.

As for Thailand, if vehicle and electronic exports hold up and rice stays highly priced, the LOS should be OK provided the Thai banks don't fall over because their capitalisation is too low. How long do you reckon it will be before the Govt is forced to consficate Thaksin's frozen assets and use the money to prop up the Thai banks?

Interesting times.

Oh, and the Jewish conspiracy theories are ignorant rubbish. Grow up people.

Edited October 10, 2008 by Bruce1

[lannarebirth]

During times of economic madness, the mad anti-semites come out of the closet. The emergency rescue plan that is now openly supported by Bush, McCain, AND Obama is needed to prevent a worldwide depression and also to prevent hateful thinkers like we have seen here gaining power, as they tend to do during desperate times.

This is the same Bush who said a few months ago that the US economy was strong and that talk of a depression was conspiracy theory. Now you want to trust him with a 'bailout plan' that is just an issuance of credit and will lead to the further devaluation of the dollar. You don't get out of debt by going further into debt.

Even Bush is right once in a blue moon . In this case, his position comes from listening to the treasury secretary and the fed chairman anyway. I think he is right on this one. This isn't right now about who is to blame, there is more than enough blame to go all around anyway. This is an emergency and I am confident the rescue plan will pass in some form as all the US political leaders want it of both parties and all responsible financial experts want it as well. The "man on the street" still thinks this is a bailout for rich wall street fat cats, when actually this about saving their job, their home values, their retirement, etc. 60 percent of Americans are investors, and in my view, that is a good thing. It also matters to Thailand and the world, because if the US melts down, Americans stop shopping.

If the stock market is below levels it should be trading at. Shouldn't you and the other 59% of investors be in there buying it up with both hands? Or is itpossible the markets are not priced properly for the risks that are inherent in stock ownership? If they asked for 2 Trillion and you thought it would make your stocks go back up, would that be OK too?

Lanna, There is currently a record level of cash on the sidelines, both in private equity funds and money market funds. When this bailout bill gets passed and the mark to market accounting laws get scrapped, those funds will get repatriated back into equities, it may not all occur next week or next month but over the next six moinths and beyond U.S. equities will rise substantially. If you hang on to gold, oil or the Euro you will face some serious losses going forward, the Euro in particular is in for quite a fal as the E.U. central banks begin to decrease rates there soon

Get out your glasscutter and frame it on the wall Vic:

SPX.bmp

Are we there yet?