Nikkei dives over 3% on uncertainty over Bush stimulus package+

[Purveyor]

Source: Associated Press

TOKYO, Jan. 21 (AP) - (Kyodo)—(EDS: TO BE LED)

Tokyo stocks dived Monday morning, with the key Nikkei stock index shedding over 3 percent, as investors remained skeptical whether a stimulus package U.S. President George W. Bush has unveiled can prevent a recession in Japan's largest export market.

The 225-issue Nikkei Stock Average plunged 466.01 points, or 3.36 percent, from Friday to 13,395.28. The index hovered near the lowest intraday level marked since Oct. 28, 2005.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 39.80 points, or 2.97 percent, to 1,301.70.

All stocks fell across the board led by sharp declines in metal products, real estate, and insurance issues.



Read more: http://www.breitbart.com/article.php?id=D8UA01280&show_article=1&catnum=0

[Deja Q]

1. With the money, I was going to buy a camera lens...

guess where the good ones are made?

Japan.

:crazy:

[fascisthunter]

7. At Least Japan Manufactures Stuff

why can't we?


:think:

[kath]

8. Because then the CEOs would only be multi-millionaires, rather than billionaires.

[SpiralHawk]

2. "We don't trust Commander AWOL Bush because of unending lies and incompetence." - Japanese Investors

"Commander AWOL Bush is not only feckless and dishonest, he is a Miserable Failure, and his ESP plan is more bogus bullshit to make fatcat republicon homelander cronies fatter, while screwing American citizens. Frankly, we disapprove. It's getting to be about time to call in the chips."

- Japanese Investors

[aquart]

3. I'm not uncertain. I'm sure it's worthless.

[The Backlash Cometh]

4. Damn. The Japanese called Bush's bluff. Maybe they remember

how far the $300.00 tax rebate of 2001 got us. Not very. Of course, most of the dummies who voted for Bush probably think all this economic collapse was worth every penny of it.

[femrap]

9. I chastised all of my republican

co-workers in '01 telling them that they were pretty cheap prostitutes when it comes to selling their votes. None of us 'needed' that money...we all made a decent living and had homes, food, cars, clothing, etc. Then I told them what I was doing with my money from W....giving it to Charity. I bugged them about that....especially the ones who thumped the Bible! Then came '04 and many of them voted for a Dem for the first time in their lives.

That is why I was so sure Kerry would win..these were KY good ol' boys.

This economic package of W's is a complete waste...especially after the Fed has given the banks close to half a trillion. Nothing is going to stop this house of cards from collapsing. There are $450 TRILLION of default derivatives out there that no one has a clue to what they are valued...and they are so far removed from being anything close to an asset...like an option on an option.

Is that burnt toast I smell?

Take care! It is going to get ugly. I hope we can withstand it.

[The Backlash Cometh]

10. I did one better than you. I told them I was going to save it.

That really pissed them off.

When it came to that tax refund, it was like they felt that a bird in the hand was better than funding social programs. Even if they were staunch Christians, they couldn't see how one was going to affect the other. They just don't understand the good that their tax dollars can do. Maybe that's where we're missing the boat? Maybe we should humanize some of those social programs so they can see how it ties in with Christianity?

[femrap]

14. And we should be publizing the fact that

W's 'faith-based initiatives' have resulted in all of the Food Banks having NO FOOD. Maybe we could show up at their doors at dinner time with a couple of hungry families! Their hypocrisy is mind blowing!

[tabasco]

5. Wow. Don't they know he's the MBA President?

I'm sure they are misunderestimating the boy genius.

[Roland99]

6. Other dour news: Shipping index's plunge raises growth concerns

Shipping index's plunge raises growth concerns
Falling global demand for bulk commodities could indicate a global cooling
http://www.marketwatch.com/news/story/shipping-index-plunges-six-month-low/story.aspx?guid=%7BAC84B011%2DBD0B%2D4522%2D92FF%2D4BA4CEEB302C%7D

Worries that the global economy is following the U.S. into a slowdown have increased after an early warning indicator -- an index that tracks global shipping rates for bulk commodities -- plunged to a six-month low.

The Baltic Dry Index fell to a reading of 6,462 Friday, down nearly 30% since the start of the year and 42% from an all-time high reached Nov. 13, according to the Baltic Exchange in London.

The gauge, which tracks freight rates on the mammoth vessels that carry tons of soybeans, corn, coal and metals across the globe, is used by economists to get an early read on global trade and growth trends. When demand for those basic materials shrinks, freight rates drop and the index tumbles. The trend provides an early snapshot of trade volumes before governments compute reports.

"It's fallen quite significantly," said Bernard Baumohl, managing director at The Economic Outlook Group in Princeton, N.J. "It points to a slowing in the global economy."

[ozymandius]

13. Ayeee! Transports are surely telling of something wicked.

If you want to see how the demand for goods is faring, her there and everywhere, then look at transports.

[msongs]

11. let's just give everyone in japan an $800 gift if we get one as well nt

[Celebration]

12. ugly, UGLY Asian and European markets today

Europe still open at this point...........

FTSE 100 5,690.90 -210.80 -3.57%

DAX 6,957.02 -357.15 -4.88%

CAC 40 4,850.68 -241.72 -4.75%

Nikkei 225 13,325.94 -535.35 -3.86%

Hang Seng 23,818.86 -1,383.01 -5.49%

Straits Times 3,344.53 -6.03%

[GliderGuider]

15. Even the Canadian TSX is down 3.8%

I wonder what's going to happen tomorrow when the US markets open.

I've been talking to a couple of people (including a pretty sharp guy at Wood Gundy who takes care of my retirement savings) who are saying things like "Oh, the foreign markets are just lagging, the US markets have about finished their correction, and the rest of the world is just catching up." I think they're whistling past the graveyard. My Wood Gundy guy assured me at the open that Canadian markets only had another 3% correction to go. So far today he's low by almost a percent. This feels more like the leading edge of a total meltdown than a "correction", but maybe that's just my panic talking.

I liquidated all the stocks I could reach at the market opening here in Canada.

Try this thread for a look at what some apparently astute people think about the situation:
http://www.tickerforum.org/cgi-ticker/akcs-www?post=24778
:scared:

[Supersedeas]

16. doubts about Bushist competence -- don't question Bushist integrity says Condi