Luck of the Irish. Something to take your mind off DU infighting.

[TalkingDog]

You can dogpile Cassandra instead:

http://www.wiseupjournal.com/?p=82

snip:

Did you know the Irish stock market (ISEQ) has crashed and lost over 40 billion Euro in one year? If your not one of the few stock investors in Ireland then your answer will probably be no. Not surprising since you’re not really being told.

snip:

You would think when a major event happens like a stock market crash, and all the banks losing half of their value the news media might take it on as their responsibility to inform the public of such a collapse. The media hasn’t, and the general public still does not know. Talk to people about it, I have, they don’t know it has crashed. I’ve been following TV news for the past few months just to see how they are informing the public of this. They tell them the percentage change for the day (up 0.5%, down 1%), but I have not seen as of yet them tell the big picture truth, that the entire market has collapsed, biggest selling in it’s history, all the banking stocks have lost billions in one year.

The massive amount of shares being sold during 2007 in the Irish Market worryingly dwarfs previous years by over 400%. This amount of volume points to institutional selling, the ‘big boys’ who know what’s going on are out of the market. Since November a ‘dead cat bounce’ has occurred, this is what traders call it when after a major crash the stock bounces slightly up and then starts to head back down again. This is likely due to the industry influencing traders that it’s a ‘good time to buy’, a common practice in any industry during a crash. In the U.S they told the public Enron was a barging at -50%, then it went down to -100%. The ‘big boys’ can’t sell the rest of their shares if there are no buyers.

Earlier this year the ultimate bank of all central banks, the Bank for International Settlements (BIS) submitted it’s 77th Annual Report (April 1, 2006 - March 31, 2007) which talked of a coming global depression. You have to understand this was not a fortune-teller’s prediction, this organization has the power and influence to create booms and busts. In many economist’s analysts the popping of the bubble they created was part of the plan, all debt bubbles burst, and in the end mammoth bubbles cause mammoth depressions.

/snip


My Favorite Master Artist: Karen Parker GhostWoman Studios

[Viva_La_Revolution]

1. bookmarking for later. wow. nt

[tekisui]

2. That's not good. The UK has been reporting the US is now in a Recession.

[annabanana]

3. The white noise out of NH is masking everything. . . .n/t

[truedelphi]

4. Oh great The sleeping American electorate finally wakes up

And decides to change course just as the Ship of State slams into one major iceberg.

[scarletwoman]

5. Thank you. My veltschmerz was starting to lose its edge.

Seriously, these are fascinating times we're living in. Will we be around to witness the total collapse of the current economic paradigm? I can only hope...

sw

[TalkingDog]

6. Kali: Destroyer and Creator.

A chance to build a New Society and we can be a part of it. Should be...interesting.


My Favorite Master Artist: Karen Parker GhostWoman Studios

[scarletwoman]

12. Yeah, "interesting" -- I'm sure you know about the "Chinese curse".

I don't mind, I'm all about Kali.

[TalkingDog]

15. Interesting times indeed. Kali (not invoking her lightly) is sometimes necessary. n/t

[shireen]

7. k & r

[enid602]

8. odd

Seems odd. As an EU member, Dublin has the full force of Brussels behind it.

[lonestarnot]

9. One world currency on the march.

[madrchsod]

10. well it was the pound sterling then the dollar

certainly has`t hurt the brits. we have to have someone who is going to restore creditability in the us dollar and that won`t be for another year.

[lonestarnot]

11. Oh. I see.

:P

[grassfed]

13. the Irish economy is very strong

Prospect Magazine Jan 08 Cover story
Lucre of the Irish http://www.prospect-magazine.co.uk/article_details.php?id=9968

http://www.forfas.ie/ncc/index.html

[TalkingDog]

14. Are the loss numbers provided in the story incorrect?

http://uk.finance.yahoo.com/q/bc?s=%5EISEQ&t=1y&l=on&z=l&q=l&c=


The effect on the economy would not be immediate. Even in America's Great Depression, there were places that felt the impact to varying degrees.

I can't speak to the economy in Ireland. If you have a correlation and/or causation that isn't being made clear between the original story and the information you provided, feel free to clarify.

I'm all about the learning process.

My Favorite Master Artist: Karen Parker GhostWoman Studios

[AdHocSolver]

16. The corporate elite will prop up the economy until they take their profits out.

Our corporate elite will continue to try to prop up our economy until after the election to help the Republicans. They may not succeed in propping it up for that long. Since the stock market relies on perception more than reality, the corporate media is doing its part to keep the public in the dark about the downturn.

Those people who do not understand that the stock market is rigged in favor of the wealthy are the ones who make it possible for the wealthy to steal so much money.

To understand how the stock market works, just look at how Enron played out. The executives at Enron faked profits at Enron to convince the public to buy the stock. A lot of people bought the stock and by so doing, drove its price up (increased demand for a limited supply). The buyers assumed that the "higher" profits meant the value of the company would continue to increase, so the value of the stock would continue upward. It was all a scam.

This scam demonstrates the truth that the price of the stock bears no relationship to the true profitability of the company. It is only the perceived profitability that matters, and how many people can be convinced to keep throwing money at the stock. The price continues rising until people finally wake up. By that time, the insiders have sold their shares to the last group of suckers. The time comes when there are no more buyers to support the inflated price so the price starts to drop.

All the major corporations are in on this scam. In 2001 and after, many major corporations "readjusted" their profit figures, which shows they were all rigged upward to begin with. Serious stock market declines, recessions and depressions, are built into the system. The corporate elite pull in the suckers on the upswing, sell their stock at the peak, dumping their stock before the big drop. They have transferred the suckers' -- excuse me, "small" investors' -- money to themselves by selling their stock at inflated prices, and after it drops, turn around and buy it back at a much deflated price. It is like taking candy from a baby.

The American stock market is being propped up now by the actions of the mutual funds and investor funds. As long as they continue to buy and sell stock at the inflated prices, the prices will stay high. They are playing musical chairs. When one of these big bags of money drops out, like a house of cards, the stock market will collapse.

The stock market is essentially a Ponzi scheme. It can continue to operate as long as no big players bail out. Once the insiders start to leave, and pull their money out, the scheme collapses.

The housing market, which has already started to collapse, works the same way, although the housing market shades into a pyramid scheme, which relies even more on pulling in more and more suckers. It collapses even faster once you run out of new buyers.

All you need to understand is how supply and demand work and their relationship to price.