I think mebbe this was posted by someone before- amit kalia- or maybe something similar, but here it is again.
a refresher

http://www.brasschecktv.com/page/187.html

Yesterday TSX plunged 750 points and the Dow went down 200 points.

Today like most markets in the far-east shot up.

http://uk.reuters.com/business/markets/all

Does anybody have a link to an all encompassing link.Like the one above doesn't have India for some reason.
Maybe 'cos it's worth a spot on its own?

Today they will have maurat trading

Quote:

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Originally posted by investpro
Does anybody have a link to an all encompassing link.Like the one above doesn't have India for some reason.
Maybe 'cos it's worth a spot on its own?

Today they will have maurat trading

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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

Credit squeeze, slump putting Canadian firms near brink: manufacturers

OTTAWA - Many successful Canadian manufacturing companies will disappear in the next year unless the federal government steps in with emergency loan guarantees to keep them afloat until conditions improve, the country's largest industry group warns.

Canadian Manufacturers and Exporters president Jayson Myers sent out the distress call Tuesday, a day after auto-parts makers said they needed up to $1 billion in short-term loans to help them survive the credit crisis.

The peril is much broader than just Canada's auto sector, he said, adding that many firms dependent on exports to the U.S. are in trouble.

Myers said the auto sector is not the only part of the industrial economy that needs rescuing. He says any manufacturer selling into the U.S. markets dealing with autos, housing, industrial equipment, or general consumer items is in danger of perishing in the next six months to a year.

Myers says Canadian exporters are being squeezed by tight credit conditions that are make it difficult and more expensive for them to borrow, and also impact their industrial customers in the U.S., which have responded by cancelling orders and delaying payments to their Canadian suppliers.

Making matters worse, the looming global recession has collapsed demand for Canadian exports across the board, particularly in the U.S.

http://ca.news.finance.yahoo.com/s/28102008/2/biz-finance-credit-squeeze-slump-canadian-firms-near-brink-manufacturers.html

Cheers!

Here's an interesting quote from Thomas Jefferson

http://www.quotationspage.com/quote/37700.html

believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
Thomas Jefferson, Letter to the Secretary of the Treasury Albert Gallatin (1802)
3rd president of US (1743 - 1826)

Interesting quote - almost Marxian in its implications.
And of course he is right - if the Govt is of the people, by the people and for the people then it's ok for state to own the financial institutions that control money supply.
But that's not the case in any country today.

I always find Adam Smith very articulate in this regard -
"Civil government, so far as it is instituted for the security of property, is in reality instituted for the defense of the rich against the poor, or of those who have some property against those who have none at all."

And of course when he's talking about property, he meant the landed gentry, the aristocrats and the bourgeoisie.
The "captains of industry and finance" [his words again].

In the modern world, these people are the execs of large corporations, govt lobbyists, power brokers, etc. who influence govt policy on behalf of groups of vested interest.

The current crisis was engineering as a way out of the tech recession and international political instability of 2001 - 2003.
By making cheap money available to the masses without checks and balances, the housing bubble and credit driven spending was created, which has been carrying the US for the last 5 years.
Not just the US, but most of Western Europe as well.
Iceland literally created wealth out of nothing by allowing their financial institutions to hoard foreign exchanges several times more than the GDP of the entire country.

The net result of this crises is going to be higher taxes for ordinary people, transfer of wealth from the middle classes to the elite few.

I'm sure both Jefforson and Adam Smith would be shocked.

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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

U.S. economy close to 'freefall,' Greenspan says

U.S. gross domestic product will drop sharply in the fourth quarter, former U.S. Federal Reserve chairman Alan Greenspan said on Friday.

"It's clear, just looking at the trend in the monthly gross domestic product, it's sliding at an over three per cent annual rate, and indeed the early data for October suggest that it's even more severe than that," he said.

http://ca.news.yahoo.com/s/cbc/081107/business/business_greenspan_economy

Keep well,

Cheers!