Dow plunges 512 points

[ebake02]

Goodbye recovery, hello double dip recession. I guess that means I won't be finding a paralegal job when I graduate in December.

http://www.msnbc.msn.com/id/44000197/ns ... d_economy/

[Memorex]

I don't see one number out there that is a positive indicator. I think I read that a few million 99ers will be losing their unemployment in the next few months with no extension likely. That's going to be brutal.

[Saint John]

I don't see one number out there that is a positive indicator. I think I read that a few million 99ers will be losing their unemployment in the next few months with no extension likely. That's going to be brutal.

Corporate earnings, especially technology companies, have been pretty spectacular.

[ebake02]

From I've been seeing, Europe is in worse shape than we are. The biggest drag on stocks today was fear that Spain and Italy may need a bailout from the EU.

[ebake02]

I don't see one number out there that is a positive indicator. I think I read that a few million 99ers will be losing their unemployment in the next few months with no extension likely. That's going to be brutal.

Corporate earnings, especially technology companies, have been pretty spectacular.

I think most of their earnings are coming from overseas.

[Andrew]

http://www.youtube.com/watch?v=5D0VhS8qXT0

[slucero]

The market as a whole is at around 13 times earnings... much of which has been derived from cost-cutting and increases in productivity (which is now twice GDP growth... which also portends LESS hiring...).

The Hangseng index is getting fucking CRUSHED right now... down over -1000 points.

Real demand never was, as all the market earnings have been less about demand based revenue, and more about cost cutting and monetary stimulus driving up stock values... in concert with the Fed flooding the world with dollars, artificially inflating all prices. This is why China has been experiencing price AND wage inflation.

Q1-2011 GDP (of which 70% is consumer spending) being revised FROM 1.9 to 0.4 is the "canary in the coal mine".


QEII has ended, and the market is now, finally correcting because QEII ended... Notice the relationships are back to what they traditionally should be... 1:1 gold:stocks - and both fell...


This market is beginning to re-pricing itself to true value.

The Fed will be forced to come back with more easing... but it won't be like QE as that is now a dirty word... and the Fed can't simply take their balance sheet to $4 Trillion without pissing of international holders of US debt.


It won't happen until they smell deflation.

[steveo777]

Back when I was in high school BO was like a plague. Now OB (just turn the letters around folks) has plagued the best country in the world.

[Andrew]

Back when I was in high school BO was like a plague. Now OB (just turn the letters around folks) has plagued the best country in the world.

It's hardly all his fault!!!

[RedWingFan]

Back when I was in high school BO was like a plague. Now OB (just turn the letters around folks) has plagued the best country in the world.

It's hardly all his fault!!!

He's just stepped on the gas Andrew.
http://www.youtube.com/watch?v=s2MjQ17k ... r_embedded

[Saint John]

Warren Buffet's maxim: "Be fearful when others are greedy, and be greedy when others are fearful." The best time to find bargains in stocks is during an economic recession or market correction. "If you can summon the courage and presence of mind to buy during these scary episodes when your stomach says 'sell,' you'll find opportunities that you wouldn't have thought you'd ever see again."

[Ehwmatt]

Warren Buffet's maxim: "Be fearful when others are greedy, and be greedy when others are fearful." The best time to find bargains in stocks is during an economic recession or market correction. "If you can summon the courage and presence of mind to buy during these scary episodes when your stomach says 'sell,' you'll find opportunities that you wouldn't have thought you'd ever see again."

I would throw some money into Apple right now. It's dropped back down to 377~ at my last glance, and I know that ain't gonna last. iPhone5 and iPad3 are on the way. Moreover, Apple has SO much cash stashed right now it's sickening. It may even start paying out dividends.

[Saint John]

Warren Buffet's maxim: "Be fearful when others are greedy, and be greedy when others are fearful." The best time to find bargains in stocks is during an economic recession or market correction. "If you can summon the courage and presence of mind to buy during these scary episodes when your stomach says 'sell,' you'll find opportunities that you wouldn't have thought you'd ever see again."

I would throw some money into Apple right now. It's dropped back down to 377~ at my last glance, and I know that ain't gonna last. iPhone5 and iPad3 are on the way. Moreover, Apple has SO much cash stashed right now it's sickening. It may even start paying out dividends.

I'm thinking about doing just that. There's been a slight pullback from the all-time high of $404 to about $370, but the company is being punished as part of the broader market's woes. And that's exactly what you want as an investor. Their cash is now 77 billion. There will come a time, in the not too distant future, where they will earn a billion dollars per quarter just on interest. If it hits $355 I'm putting every extra penny I own into it.

[lights1961]

its happening again... just saying...the stocks free falling again...not as drastic as yesterday yet...

FYI... does anyone believe the 9.1 unemployment figures..after last weeks jobs report... were reported at 389,000 reviesed upward just 4 days later....to 418,000... just saying... It would not surprise me that end of AUG or sometime this fall... we get a revsion of the figure released today...of the 9.1 figure...

R

[Ehwmatt]

Warren Buffet's maxim: "Be fearful when others are greedy, and be greedy when others are fearful." The best time to find bargains in stocks is during an economic recession or market correction. "If you can summon the courage and presence of mind to buy during these scary episodes when your stomach says 'sell,' you'll find opportunities that you wouldn't have thought you'd ever see again."

I would throw some money into Apple right now. It's dropped back down to 377~ at my last glance, and I know that ain't gonna last. iPhone5 and iPad3 are on the way. Moreover, Apple has SO much cash stashed right now it's sickening. It may even start paying out dividends.

I'm thinking about doing just that. There's been a slight pullback from the all-time high of $404 to about $370, but the company is being punished as part of the broader market's woes. And that's exactly what you want as an investor. Their cash is now 77 billion. There will come a time, in the not too distant future, where they will earn a billion dollars per quarter just on interest. If it hits $355 I'm putting every extra penny I own into it.

It's getting close man. It's at 367 now, and was at 365 2 minutes ago. I'm losing a bit fo money now, but I see a bright future ahead for my AAPL investment.

[Gin and Tonic Sky]

I've got a crazy uncle who lives in a trailer house in California. He lives on Pabst beer and oscar meier wieners and pans gold for a living.

Gets a enough per week to make a little cash. Now hes starting to feel a bit richer due to the sky rocketing price of Gold. Gold will hit 2500 dollars an ounce. But some of that

[Ehwmatt]

I've got a crazy uncle who lives in a trailer house in California. He lives on Pabst beer and oscar meier wieners and pans gold for a living.

Gets a enough per week to make a little cash. Now hes starting to feel a bit richer due to the sky rocketing price of Gold. Gold will hit 2500 dollars an ounce. But some of that

On that note, check out PZG. It's falling right now with everything else, but if there's gold in those new mines, you could see a gain of at least a couple hundred %.

[Saint John]

Warren Buffet's maxim: "Be fearful when others are greedy, and be greedy when others are fearful." The best time to find bargains in stocks is during an economic recession or market correction. "If you can summon the courage and presence of mind to buy during these scary episodes when your stomach says 'sell,' you'll find opportunities that you wouldn't have thought you'd ever see again."

I would throw some money into Apple right now. It's dropped back down to 377~ at my last glance, and I know that ain't gonna last. iPhone5 and iPad3 are on the way. Moreover, Apple has SO much cash stashed right now it's sickening. It may even start paying out dividends.

I'm thinking about doing just that. There's been a slight pullback from the all-time high of $404 to about $370, but the company is being punished as part of the broader market's woes. And that's exactly what you want as an investor. Their cash is now 77 billion. There will come a time, in the not too distant future, where they will earn a billion dollars per quarter just on interest. If it hits $355 I'm putting every extra penny I own into it.

It's getting close man. It's at 367 now, and was at 365 2 minutes ago. I'm losing a bit fo money now, but I see a bright future ahead for my AAPL investment.

Apple will hit $500 this December or next January. iPhone5 is going to sell like crazy. My guess is 40 million in the 4th quarter.

[conversationpc]

I've got a crazy uncle who lives in a trailer house in California. He lives on Pabst beer and oscar meier wieners and pans gold for a living.

Gets a enough per week to make a little cash. Now hes starting to feel a bit richer due to the sky rocketing price of Gold. Gold will hit 2500 dollars an ounce. But some of that

But some of what?

[Ehwmatt]

I've got a crazy uncle who lives in a trailer house in California. He lives on Pabst beer and oscar meier wieners and pans gold for a living.

Gets a enough per week to make a little cash. Now hes starting to feel a bit richer due to the sky rocketing price of Gold. Gold will hit 2500 dollars an ounce. But some of that

But some of what?

I think he meant "buy some of that."

[Saint John]

I've got a crazy uncle who lives in a trailer house in California. He lives on Pabst beer and oscar meier wieners and pans gold for a living.

Gets a enough per week to make a little cash. Now hes starting to feel a bit richer due to the sky rocketing price of Gold. Gold will hit 2500 dollars an ounce. But some of that

But some of what?

I think he meant "buy some of that."

Well done, Columbo.

[Ehwmatt]

I've got a crazy uncle who lives in a trailer house in California. He lives on Pabst beer and oscar meier wieners and pans gold for a living.

Gets a enough per week to make a little cash. Now hes starting to feel a bit richer due to the sky rocketing price of Gold. Gold will hit 2500 dollars an ounce. But some of that

But some of what?

I think he meant "buy some of that."

Well done, Columbo.

Thank you.

[Behshad]

Warren Buffet's maxim: "Be fearful when others are greedy, and be greedy when others are fearful." The best time to find bargains in stocks is during an economic recession or market correction. "If you can summon the courage and presence of mind to buy during these scary episodes when your stomach says 'sell,' you'll find opportunities that you wouldn't have thought you'd ever see again."

I would throw some money into Apple right now. It's dropped back down to 377~ at my last glance, and I know that ain't gonna last. iPhone5 and iPad3 are on the way. Moreover, Apple has SO much cash stashed right now it's sickening. It may even start paying out dividends.

I'm thinking about doing just that. There's been a slight pullback from the all-time high of $404 to about $370, but the company is being punished as part of the broader market's woes. And that's exactly what you want as an investor. Their cash is now 77 billion. There will come a time, in the not too distant future, where they will earn a billion dollars per quarter just on interest. If it hits $355 I'm putting every extra penny I own into it.

It's getting close man. It's at 367 now, and was at 365 2 minutes ago. I'm losing a bit fo money now, but I see a bright future ahead for my AAPL investment.

Apple will hit $500 this December or next January. iPhone5 is going to sell like crazy. My guess is 40 million in the 4th quarter.

iPhone 5 ( or iPhone 4G ) might be Apples first iPhone flop. You really think they'll sell 40 million units in 3 months ?!

[Rick]

There's hope! Check it out here.

[artist4perry]

Not looking too good out there. I fear for our kids coming out of college, will they have jobs to pay off school loans? Will there be any jobs to be had at this rate. Scary stuff.

[ebake02]

Warren Buffet's maxim: "Be fearful when others are greedy, and be greedy when others are fearful." The best time to find bargains in stocks is during an economic recession or market correction. "If you can summon the courage and presence of mind to buy during these scary episodes when your stomach says 'sell,' you'll find opportunities that you wouldn't have thought you'd ever see again."

I would throw some money into Apple right now. It's dropped back down to 377~ at my last glance, and I know that ain't gonna last. iPhone5 and iPad3 are on the way. Moreover, Apple has SO much cash stashed right now it's sickening. It may even start paying out dividends.

I'm thinking about doing just that. There's been a slight pullback from the all-time high of $404 to about $370, but the company is being punished as part of the broader market's woes. And that's exactly what you want as an investor. Their cash is now 77 billion. There will come a time, in the not too distant future, where they will earn a billion dollars per quarter just on interest. If it hits $355 I'm putting every extra penny I own into it.

It's getting close man. It's at 367 now, and was at 365 2 minutes ago. I'm losing a bit fo money now, but I see a bright future ahead for my AAPL investment.

Apple will hit $500 this December or next January. iPhone5 is going to sell like crazy. My guess is 40 million in the 4th quarter.

iPhone 5 ( or iPhone 4G ) might be Apples first iPhone flop. You really think they'll sell 40 million units in 3 months ?!

Not a chance but they will still sell a truck load though.

[Saint John]

iPhone 5 ( or iPhone 4G ) might be Apples first iPhone flop. You really think they'll sell 40 million units in 3 months ?!

They just sold 20.3 million iPhone4's and it's been out over a year. iPhone5 is the most sought after iPhone ever. And once they announce the China Mobile deal, the world's biggest provider in a nation that frenzies over Apple products, they'll have access to over 600 million subscribers ... twice the U.S. population. My guess is that they sell over 200 million iPhone5's in 2012. A recent poll in the U.S. has 1 in 3 mobile subscribers wanting an iPhone5. And their growth in China has been about 600% year over year ... and that was without the 2 biggest carriers in China.

[conversationpc]

iPhone 5 ( or iPhone 4G ) might be Apples first iPhone flop. You really think they'll sell 40 million units in 3 months ?!

They just sold 20.3 million iPhone4's and it's been out over a year. iPhone5 is the most sought after iPhone ever. And once they announce the China Mobile deal, the world's biggest provider in a nation that frenzies over Apple products, they'll have access to over 600 million subscribers ... twice the U.S. population. My guess is that they sell over 200 million iPhone5's in 2012. A recent poll in the U.S. has 1 in 3 mobile subscribers wanting an iPhone5. And their growth in China has been about 600% year over year ... and that was without the 2 biggest carriers in China.

China already has more cell phones in use than the U.S. has people right now.

[Saint John]

This sums it up well. And they only have 4 stores in China ... so far:

Apple's massive popularity in China triggers wave of smuggling from HK

HONG KONG -- In a crowded marketplace in downtown Shenzhen, a store owner haggles with a cigarette-smoking customer over the price for a bulk sale.

They are not bargaining over fake watches or counterfeit leather bags, but genuine Apple iPads and iPhones — freshly smuggled from Hong Kong, a free port with zero duties for many electronics imports.

“This is real stuff that just arrived. We just got these off someone's waist strap,” said the storeowner, whose surname is Xu, while the customer ran his fingers through a stash of cash upon closing the deal to buy a dozen iPhone 4s.

Xu's store, with its glass display in a hall full of electronics sellers, is a far cry from Apple's signature spacious, white outlets. But iPhones and iPads are flying off the shelf, thanks to discounts on the official price tag.

With Apple's gadgets becoming a status symbol among rich Chinese, businessmen like Xu are meeting insatiable demand by smuggling from Hong Kong, where the currency is weaker than the yuan and tariffs are virtually zero.

Storeowners such as Xu take advantage of the price difference of Apple products in Hong Kong and China.

For example, an iPad 2 costs HK$3,888 (US$499), or the equivalent of 3,215 yuan, in an Apple retail store in Hong Kong, but its official price in China is 3,688 yuan (US$572).

Most unauthorized resellers set a price somewhere in between to attract buyers. “When customers ask us about maintenance, we just tell them, don't worry, these are all real from Hong Kong and they won't go faulty,” said Xu, with about 5 iPads stacked beside him on his glass display filled with rows of phones from Nokia, Samsung Electronics and HTC. Apple products are so popular in China that Morgan Stanley forecast its sales in the country, the world's largest mobile phone market, could exceed US$9 billion in the year ending September 2012.

That will be up sharply from just US$2.9 billion in the previous fiscal year. Apple only has four official retail outlets in Beijing and Shanghai, but fake stores that look like the real thing have also sprouted across Chinese cities, such as Kunming in southwestern China.

Chinese officials in Kunming ordered two fake Apple shops to close, a local newspaper reported on Monday, an apparent reaction to a storm of media attention about an unauthorized and elaborate hoax store in the southwestern city.

“The official supply in China is not sufficient yet,” said Dickie Chang, a senior market analyst of research firm IDC in Hong Kong. “The brand image of Apple is very good, especially in the media tablet market.”

Media reports said in June customs authorities in the southern city of Shenzhen broke several smuggling rings that tried to illegally ship over 300 computers, including a large number of iPads, worth 1.5 billion yuan (US$230 million).

Police arrested several ringleaders who had hoped to avoid paying 240 million yuan worth of taxes for the products, the reports said. Shenzhen authorities were unavailable for comment.

Some dealers engage so-called student “mules” to do the job.

These are basically Chinese students living in Shenzhen who commute daily to schools in neighboring Hong Kong to carry the Apple products across the border, while others smuggle in bigger quantities using logistics companies, industry sources said. “I used to carry one brand new iPad or iPhone when I go back to China,” said Desmond, a university student from Shenzhen studying in Hong Kong, who declined to give his last name.

Desmond said he sold some of the iPhones and iPads on China's largest online mall Taobao.com and earned as much as 300-400 yuan apiece.

Some students collect an iPad or iPhone a day from Hong Kong suppliers, put it in their schoolbags and pass through immigration to deliver it to stores like those in the complex where Xu has set up shop, industry sources said.

Students who are willing to take a bigger chance sometimes strap several iPhones around their waists and wear an oversized jacket to escape the eyes of custom officials, they said.

A video clip clandestinely filmed by a Hong Kong newspaper tracking the entire iPad smuggling process by students is available on YouTube.

[Behshad]

iPhone 5 ( or iPhone 4G ) might be Apples first iPhone flop. You really think they'll sell 40 million units in 3 months ?!

They just sold 20.3 million iPhone4's and it's been out over a year. iPhone5 is the most sought after iPhone ever. And once they announce the China Mobile deal, the world's biggest provider in a nation that frenzies over Apple products, they'll have access to over 600 million subscribers ... twice the U.S. population. My guess is that they sell over 200 million iPhone5's in 2012. A recent poll in the U.S. has 1 in 3 mobile subscribers wanting an iPhone5. And their growth in China has been about 600% year over year ... and that was without the 2 biggest carriers in China.

Love ya Dan , but you're misinformed about the "most sought after phone" at this point , simply because no info has been released about what all it will do that iPhone 4 won't. With iOS 5 right around the corner , this time around most iPhone 4 owners will most likely choose the software update over the new hardware purchase .
This all could change of course once iPhone 5 is announced and if it's got features that blow iPhone 4 ( and droid phones ) away.