The CAC40 loses 9 percent, Black Monday or end of a system?

[bham]

What is then the moral of the story?

Do not trust anyone anymore?

Create a system that allows you to enrich yourself by exploiting the work of others?

Should the theory of evolution be confirmed by the supremacy of the most opportunists, the most cunning, the very ones that we see succeeding in politics?

Ben the law of the strongest becomes the law of the richest in our system ...

Is nothing shocking (in the logical sense) if?

No, the end does not bother me, it is the way of achieving it that bothers me; let me explain: that someone is richer than me and that he benefits fully does not bother me as long as he deserved it by his work, his professional skills, ..... etc.
On the other hand, what I find shocking is that a person enriches himself, without special skills, without proven work, through personal relationships and, as regards the banking and stock market system from a partly virtual world. (see the post on debt in particular); these people are for me opportunistic leeches who have no morals; you will tell me that they profit from it and benefit from it, so much the better for them; what I notice is that this market of dupes, initiated by big financiers / bankers having succeeded in imposing their rules on the world governments, puts at the forefront of the social ladder of the opportunists who impose themselves only by their ability to cheat others ; this system, in my opinion, therefore highlights a category of humans who serves the interests of those who set up the rules but in no case the interests of the human species.

Naivety on my part no doubt but I cannot bear to see the world ruled by this human race.

[Christophe]

And to end the week in style, a little -7%, one!



Lietseu recovered the Special Envoy on the crisis: https://www.econologie.com/forums/le-pire-de ... 55-80.html

I hope we can put it online quickly ...

[Christophe]

Wall Street opens sharply lower

The CAC 40 accelerated its fall on Friday afternoon to 3.078,67 points at 15:40 p.m. European stock markets all plunge in the wake of a start of the session in free fall in New York. To counter this fall, Italy has decided to ban all short stock sales, a mechanism accused of amplifying the fall in the markets.

European stock markets are still largely in the red, Friday October 10 in the early afternoon. The fall of the Paris Stock Exchange accelerated, the CAC 40 index losing 10,57% to 3.078,67 points at 15:40 pm, after losing up to more than 11%.

On Wall Street, the Dow Jones fell nearly -7,91% a few minutes after opening, falling below 8.000 points for the first time since April 2003.

In Germany, the flagship Dax index of the Frankfurt Stock Exchange plunged again by more than 10% Friday at 13:13 GMT.
On the Madrid Stock Exchange, the Ibex-35 index sank to 10,59% at 15:36 pm. This threshold is commonly accepted by specialists to define a stock market crash. To counter this fall, Italy has decided to ban all short stock sales, a mechanism accused of amplifying the fall in the markets).

At the very start of the session, the CAC 40 had tumbled 8,21%. London and Frankfurt, which had lost more than 10% in the first exchanges, fell 5,55% and 7,81% respectively around 10:16 am, while a crucial meeting of the big money of the Group of Seven is being held this Friday. '' Eurostoxx 50 fell 7,79%.

Friday morning, the Tokyo Stock Exchange experienced its worst fall in 21 years, losing 9,62% at the close, after New York had a nightmare session on Thursday, the worst since the crash of October 1987, the Dow Jones plunging. by 7,33% (or -678,91 points) and reaching its lowest level in five years.

http://tempsreel.nouvelobs.com/speciale ... _nett.html

[Svlany]

This "crisis" is a great thing. It will help awaken awareness.
We fucked you well ... for decades and now the system is creaking. But as we would like to fuck you ... a little more, then it is you who will pay the slate that we will leave. OK ?
The funds that will bail out the banking and stock market systems will later be repaid by the brave taxpayers. In this case, as usual, the richest will come out without problem (or even richer for the cleverest).
I say that this crisis is an excellent thing because it will allow the beginning of an intellectual revolution. A short while ago, in the factory where I worked, people thought that our good sarkosy was the ideal president (they also voted for him since he became one, president ...).
Now that the masks are falling in public places, that the manipulators are discovering on a daily basis, that capitalism and liberalism are stumbling, perhaps a revolutionary burst will finally be born. Maybe people will, finally, think, take control, build a future by thinking of the common future.
Roll on tomorrow, the ACC to 500 points. I can't wait for tomorrow and a new world. Such an opportunity will not arise, financiers and slavers learn quickly ...

[gegyx]

I who have a slow hoop, I had an illumination by watching the JT 20h of Fr2.
They were starting to bug me with the crisis (while waiting "Plus belle la vie" on Fr3 ).
There was, by chance, the bat Jacques Attali, who no longer had his glasses. Twice he took up a magic sentence, and I said to myself; " Damn it ! But of course it is !… "

It is nevertheless curious, that with all the cash injected (supposedly?) In the USA, by the Paulson plan, the tumble continues, The nationalization of 8 banks in England by an ultra-liberal government, the stock market collapses , the fall in interest rates, the actions in Japan, the activism of N. S to bail out the banks and squander a dime that he does not have but that he will surely claim from us soon, his will to broaden his thinking and his action to the whole of Europe since he believes he is the current depositary.

And no, the CAC 40 fell by 7% again, while "French banks are solid".

But why does it continue to drop everywhere?
I thought with obviousness, that the big shareholders alarmed and amplified the collapse of the stock market, so that the small ones follow desperate, and then buy the jackpot at low prices, and to gain even more in this crisis, as long as done.

We say to ourselves, that we will not be affected since the State guarantees the A + passbook accounts accumulated up to € 70000, per depositor.

After all, let the bastards clink glasses and bite the dust once and that we finish with these scum!

Well, that's a bit more softly said by the brilliant economist of F. Mitterrand, and brilliant support by N. Sarkozy thereafter.

We must absolutely save the world by injecting cash, paid obviously by the taxpayer. In the end, it would not necessarily be a bad deal, if the State straightens these companies and one day makes a profit! (?)… But we must now regularize all this and take the same measures all over the world to legislate and monitor all these little Banksters… Currently, we can do nothing against them, because it was not illegal because there were no laws ... Then came the idea that kills:

It takes a world order to legislate and make good decisions.

Here we are ! One would have thought that the New World Order (NAME), advocated by Bush, Blair and Sarkozy, would come following a war with Iran which would degenerate?
But no, it is the financial crisis, of which we are not the actors that will lead this process.
No atomic war penalty, a well-edited scenario with the tenors of capitalism, and the result will be there. For our good!

Stronger than 11/09/2001 ...

[louphil]

Then came the idea that kills:

It takes a world order to legislate and make good decisions.

Here we are ! One would have thought that the New World Order (NAME), advocated by Bush, Blair and Sarkozy, would come following a war with Iran which would degenerate?
But no, it is the financial crisis, of which we are not the actors that will lead this process.
No atomic war penalty, a well-edited scenario with the tenors of capitalism, and the result will be there. For our good!

Well seen Gegyx, I made the same reflection when I saw this Attali vulture perish ... And when the sentence was formulated, it made me tilt too ...

... Well, I think I'm going to sign up for PBS right now ...

[toto65]

Shall we try to predict the future?
1-Sovereign wealth funds buy up valuable companies at low cost.
2-a new attack to lead a new war against terrorism?
3- the invasion of Iran?

Do you see her planning for this new order?

And the role of China?
If global growth declines, China will not be able to maintain its growth of 8%. Hence a risk of population riots.

[Christophe]

CAC40: + 5% at the opening there ...
Let's wait for the opening of New York ... to see the system is no longer "crazy" ... failing to be always "in the dark" ...

[bham]

http://www.lemonde.fr/opinions/article/ ... _id=647065

The CAC 40 is up sharply!, By Jean Gadrey
THE WORLD | 13.10.08 | 13h34
If we reconstitute the CAC 40 index since its creation in 1988, we can see that it has experienced, including taking into account its plunge in recent days, a huge increase, incomparable with that of wages, social minima and per capita GDP.

In 1988, the CAC 40 fluctuated between 1 and 000 "points" (it was defined with a value of 1 points on December 100, 1). In the first half of the 000s, it was between 31 and 1987. From 1990, it was the surge linked to the Internet bubble, which saw it peak at the beginning of September 1 above 500, before a diving until March 2, where it drops to 100. The subsequent rebound will last over four years, until June 1998, with a high point at over 2001. As of this writing, October 6 in the morning, it is at 900. National disaster?

If we take a longer perspective (don't we say that actions have to do with investment? ...), we realize that someone who would have held at the beginning of 1988 a portfolio of stocks conforming to the composition of the CAC 40 at the time, and who would have regularly made a minimum of adjustments to stick to the changing composition of this index (there are financial products for that) would have to date a sum 3,1 times higher if he sold. However, in twenty years, from 1988 to 2008, the consumer price index increased by just over 40%. This provides our shareholder with a 120% increase in the purchasing power of their portfolio.
Meanwhile, how have the purchasing power of wages, social minima, and GDP per capita changed? The latter has increased by 35% in twenty years. The average annual salary of full-time employees increased by around 60% in current euros, or around 15% at constant prices. As for the purchasing power of the RMI since its effective creation in 1989, it is worse: + 5% in eighteen years!

To sum up: in twenty years, the CAC 40 portfolio has seen its purchasing power increase by 120%, while that of wages (full-time) struggled to reach 15% and that of RMI practically stood still. For the CAC 40 to register the same progression as wages over this period, it would have to dive tomorrow under 1 points.
Objection. It is a bit excessive to start this exercise in 1988, when the creation of the CAC 40 that year followed a stock market crash in 1987. 1988 is a low point, this can distort the analysis. This is true, but if we took a high point as the initial period, the most unfavorable hypothesis for this demonstration, based on the values ​​of the months preceding the crash of 1987, we would start from around 1 points instead 500.

This would not change the enormity of the progress gap: instead of a 120% increase in the purchasing power of shares in twenty years, we would get + 48%, more than three times the corresponding increase for wages.

Since the question arises of who will pay the gigantic sums that the States will swallow up in an attempt to save the system they have created, with the hope of disengaging as soon as possible afterwards (reselling more to the private sector what we will have partially nationalized at low prices, by behaving like punters), we can at least answer: must first pay those who have benefited from the distortion of value added in their favor and those who have seen the purchasing power of their assets increase by 120% in twenty years.

We must replace the tax shield with a social shield and maintain the income of the vast majority by reducing the inequalities caused by the excess of speculative finance.

Jean Gadrey is Professor Emeritus of Economics at Lille-I University.

[Christophe]

Bham, the article looks good things and ideas in their place: finance and speculation bring in more than industrial "wealth" orthe stock market is NOTHING AT ALL without manufacturers...

... By cons to compare the purchasing power of the most disadvantaged wait to receive the 2009 taxes ... in Belgium it is 2 to 3000 € expected increase per tax household ... 700 € per Belgian according to the media!

Another cool article from the world of the day: Long live the crisis !!