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World markets in turmoil despite global interest rate cuts
AFP
Wednesday, Oct 8, 2008
Global stock markets suffered another vicious sell-off on Wednesday in extremely volatile trade, as investors brushed off a coordinated round of interest rate cuts across the globe.
After a calamitous day in Asia, Wall Street plunged at the open before rebounding slightly amid caution over the international bid to unblock frozen credit markets.
Frankfurt, London and Paris all tumbled by more than 4.0 percent as initial optimism over the rate cuts evaporated.
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Major central banks launched an exceptional joint effort to battle the global financial crisis on Wednesday, simultaneously slashing interest rates on three continents in a move aimed at rescuing the flagging global economy.
The US Federal Reserve, European Central Bank, Bank of England and peers in Canada, Sweden and Switzerland slashed key rates by a half percentage point, sending their strongest signal of support since just after the September 11, 2001 terror attacks in the US.
“We are not out of the woods yet,” warned City Index market strategist Joshua Raymond. “We will have to see whether this has any long lasting effect on confidence.”
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6 Responses to “World markets in turmoil despite global interest rate cuts”
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October 8th, 2008 at 1:36 pm
The rush by people to get funds, and to protect themselves is what was seen in Europe today. The markets closed there by what the initial opens indicated, but the main stop gap was here in the USA. Of couse were the most brainwashed, so time for us in normally in minutes, when things go on for a few days there is high anxiety. So there was a rush to redeem their retirement funds. It looks like for now the markets have stabilized much like a first chute coming open, and us coming off of terminal velocity speed. It will take the world longer to slow down in their panic, but here we should relax, and fall back to sleep in short order. The informed will just have to use this time to prepare better for the real collapse. Hang tough out there, and here is a cool video series about the Argentina collapse, just to give one a idea of what is in store for us one day. http://ifiwatch.tv/en/video/20.....e-part-1-2 it’s in 12 parts on the U tube site, thats where I watched it.
October 8th, 2008 at 2:25 pm
they can cut the rates all they like…you can’t print worthless money and not expect a crash…
October 8th, 2008 at 4:58 pm
http://ca.youtube.com/watch?v=SWkNG0FqHqI
October 8th, 2008 at 6:06 pm
I don’t care if the whole dam market collapses. It makes no difference. Its time to take on the elite bastards and they think they have us frightened. I don’t think so. Most of us are to poor to care about the stock market. A lot of us are from the street and we know how to survive. We will take what we need from those elite bastards and if they don’t like it then we will let them know that in our world, the strong survive and we don’t need any stinking army when we have each other. Their army will face hell if they think otherwise.
October 8th, 2008 at 6:13 pm
Let it all fall down. Let it happen, it’s time for the new world order to find out that were black sheep and we don’t take any more of their shit. Its time to kick their ass.
October 9th, 2008 at 9:38 am
The army of the 12 monkeys is coming to judge us with fire!!!!!!!!!!!!!!!!!!!!!!!