Global stock markets fall amid oil rout.

Global stock markets fall amid oil rout - BBC News

Stock markets worldwide have tumbled with investors unsettled by the continued slide in oil prices and fears about the impact on global growth

Europe's main markets closed sharply down, led by the FTSE 100, which sank 3.46%, or 203.2 points, to 5,673.58

The Dow has dropped over 500 points today.



Should we be worried about the this recent trend? Will growth continue to slow down? 2016 could be an interesting one.

Higgins86 said:

Global stock markets fall amid oil rout - BBC News

Stock markets worldwide have tumbled with investors unsettled by the continued slide in oil prices and fears about the impact on global growth

Europe's main markets closed sharply down, led by the FTSE 100, which sank 3.46%, or 203.2 points, to 5,673.58

The Dow has dropped over 500 points today.



Should we be worried about the this recent trend? Will growth continue to slow down? 2016 could be an interesting one.

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Looks like we're seeing perhaps (in part) that too low of oil prices can have a negative market effect!

Chomsky said:

Looks like we're seeing perhaps (in part) that too low of oil prices can have a negative market effect!

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Canada. Is. ****ed.





Repo firms work flat out amid oil slump in Alberta - Calgary - CBC News

While the crash in oil prices idles drilling rigs and empties out downtown Calgary offices, Steven Low's company can barely keep up with the deluge of work.

Low is CEO of Consolidated Recovery Group, an agency in Western Canada that works with lenders and the courts to recover bad debts — by repossessing a car or carrying out an eviction, for example.

It's been a busy year for the company and the work has only picked up as the crude doldrums linger, squeezing the finances of the many Albertans who rely on oil and gas to make a living — either directly, or through its economic spinoffs.

Low says bailiffs at his firm are working around the clock and he's even had to hire more staff to get all the work done.

According to the Alberta Sheriff's Office, civil enforcement industry activity grew by more than a quarter between April and October of this year.

Low says even though his industry is booming right now, he and his staff don't relish profiting off of people's misfortunes.

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Chomsky said:

Looks like we're seeing perhaps (in part) that too low of oil prices can have a negative market effect!

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China is also playing a big part. They are transitioning from and export driven economy to one more dependent on domestic consumption. It will be a rough road for them. Canada is having problems because their Conservative ex-leader made a huge bet on high oil prices. Their dollar is down to 69 cents. It is ironic that Canada weathered the 2008 crisis only to be caught in another Conservative wager in the World casino. They love to make bets with other peoples money. Putin is also in trouble of course.

“Most people don't understand that the decline of the former Soviet Union was closely linked to the 1986 collapse in oil prices. Putin later took advantage of high prices to build his own personal power. That could be at stake if prices stay low,” she told The Tyee as prices began to tank last year.
Canada is not Russia. But there’s no question that Stephen Harper bet the farm on oil and now that oil is not as lucrative as it once was Canada at large is feeling the impact of a boom-bust economy.

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As oil prices fall, so do Stephen Harper?s odds | Toronto Star

Jetboogieman said:

Canada. Is. ****ed.

Repo firms work flat out amid oil slump in Alberta - Calgary - CBC News

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So is Mexico.

Mason66 said:

So is Mexico.

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And Venezuela - Karma from Chavez.

Who saw that coming? :mrgreen:

Jetboogieman said:

Canada. Is. ****ed.

<delete images for brevity>

Repo firms work flat out amid oil slump in Alberta - Calgary - CBC News

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iguanaman said:

China is also playing a big part. They are transitioning from and export driven economy to one more dependent on domestic consumption. It will be a rough road for them. Canada is having problems because their Conservative ex-leader made a huge bet on high oil prices. Their dollar is down to 69 cents. Putin is also in trouble.


As oil prices fall, so do Stephen Harper?s odds | Toronto Star

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Mason66 said:

So is Mexico.

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SMTA said:

And Venezuela - Karma from Chavez.

Who saw that coming? :mrgreen:

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Yeah, it's not just oil, but the China situation!

China really has become the 800lb gorilla in the room!

I will go on a limb, and say compared to much of the rest of the world, the U.S.' economy is actually doing quite well. And this makes me irritated with the President's political opponents constantly complaining and blaming him about the economy. Much of the world would happily trade their economy for ours, and that goes for pretty much all of Europe too, perhaps with the exception of Germany.

Chomsky said:

Yeah, it's not just oil, but the China situation!

China really has become the 800lb gorilla in the room!

I will go on a limb, and say compared to much of the rest of the world, the U.S.' economy is actually doing quite well. And this makes me irritated with the President's political opponents constantly complaining and blaming him about the economy. Much of the world would happily trade their economy for ours, and that goes for pretty much all of Europe too, perhaps with the exception of Germany.

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Then there is the really nasty Chinese real estate bubble that has been festering for some time.

[video]http://www.cbsnews.com/news/china-real-estate-bubble-lesley-stahl-60-minutes/[/video]

To add to my post above: Wow! Canadian Dollar's at $0.69! Ouch!

Jetboogieman said:

Canada. Is. ****ed.

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Canada, and Iran, and Russia.. That is the whole point with Opecs over production. The Saudi's want Iran to suffer, just so happens that everyone else that produces oil at much higher margins is suffering as well.

So what.. Is what I say, that's the market. Those countries can fight back if they want to, but will they?


Tim-

Chomsky said:

To add to my post above: Wow! Canadian Dollar's at $0.69! Ouch!

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hehehe, yeah my children got a lesson in money this Christmas. My family is all Canadian, and they all got money for Christmas, but they didn't have time to shop in Canada so the plan was to exchange it at the border back to American. Boy, oh boy, that did not go over well. Even my 6 year old was like, WTF..


Tim-

Chomsky said:

To add to my post above: Wow! Canadian Dollar's at $0.69! Ouch!

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Part of the reason I want to work abroad now.

SMTA said:

Then there is the really nasty Chinese real estate bubble that has been festering for some time.

[video]http://www.cbsnews.com/news/china-real-estate-bubble-lesley-stahl-60-minutes/[/video]

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That was a pretty amazing article.

Thank you for this.

I also found & watched the video:

Hicup said:

hehehe, yeah my children got a lesson in money this Christmas. My family is all Canadian, and they all got money for Christmas, but they didn't have time to shop in Canada so the plan was to exchange it at the border back to American. Boy, oh boy, that did not go over well. Even my 6 year old was like, WTF..


Tim-

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Yeah, I was shocked to see it fell so far & fast, since it was at parity not too long ago.

I have many Canadian relatives, as my paternal grandfather emigrated from Europe to Canada firstly, and lived there for quite a few years.

However, for better or worse, the current CDN:USD relationship is where it's usually been historically, as far as I can remember ('70's)

Chomsky said:

Yeah, it's not just oil, but the China situation!

China really has become the 800lb gorilla in the room!

I will go on a limb, and say compared to much of the rest of the world, the U.S.' economy is actually doing quite well. And this makes me irritated with the President's political opponents constantly complaining and blaming him about the economy. Much of the world would happily trade their economy for ours, and that goes for pretty much all of Europe too, perhaps with the exception of Germany.

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Greetings, Chomsky. :2wave:

How much truth is there in the rumor that Saudi Arabia is buying up a lot of land in the US Southwest? We know what China has bought over the past several years - is the US for sale on the open market? :shock:

oil consumption is down.

this should be viewed as a great thing by the man made global warming alarmists, no?

If you want to see the consequences of the failure of governance look at oil prices. We cant allow the speculators to flop the price of crude around between $30 -$140 a barrel, a market economy can not tolerate those kinds of price swings, that kind of unpredictability. But we are. And almost no one is talking about the consequences. The elite largely know but this can not be talked about because of the people knew what is going on then the social chaos will start earlier than it has to, and they dont have any answers so what is the point of yakking about the problem?

The new global free trade economy that was set up by the wealthy after corrupting governments set out to and accomplished depowering nations ability to control wealth, so that the wealthy could steal more loot. Which means that governments are largely powerless to deal with the speculators, which means that the price swings are getting worse, which will lead to global depression just as sure as the Sun is coming up tomorrow if one of the other massive failures of the global economic system/break down of government do not cause the next global depression first.

This is going to be worse than the Great Depression, and unlike the great depression it will not be solved by a world war.

This global economic system is going down, most likely this civilization is going down, and the depression will not end till new and better is invented.

The situation has been hopeless for at least the last 15 years but probably more like the last 30.



CHEERS!

Carjosse said:

Part of the reason I want to work abroad now.

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Yes, but in defense of Montreal, it's a beautiful very cosmopolitan city; I visit often, ski in the small towns up north following l'autoroute 15 Nord/Route 117 through the Laurentians to Mont Tremblant, and have family all across ca., from Hamilton, Hull, & Toronto, through Calgary and on to Vancouver.

If I were to ever expat to Canada (not a complete impossibility), it would be for Montreal and that would be where I'd go.

Hawkeye10 said:

If you want to see the consequences of the failure of governance look at oil prices. We cant allow the speculators to flop the price of crude around between $30 -$140 a barrel, a market economy can not tolerate those kinds of price swings, that kind of unpredictability

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you can't do anything but allow speculation. otherwise, no real value can be determined.

the real problem is we have went far too long not allowing true market corrections to occur. the system is demanding a massive market correction, and has for some time, but we just don't allow it.

we didn't allow housing markets to crash to a natural level, we had to come in and prevent further corrections.. we won't let wall street crash either. That is wrong.

deflation isn't just needed, it is wanted. bankers and financial planners are robbing us! a decrease in prices is the natural order. It is a reward for increased efficiency. We are being robbed of our just rewards. allow prices to fall. the banks will suffer, the ultra rich will suffer. the lower class will benefit from it.

Chomsky said:

Yeah, it's not just oil, but the China situation!

China really has become the 800lb gorilla in the room!

I will go on a limb, and say compared to much of the rest of the world, the U.S.' economy is actually doing quite well. And this makes me irritated with the President's political opponents constantly complaining and blaming him about the economy. Much of the world would happily trade their economy for ours, and that goes for pretty much all of Europe too, perhaps with the exception of Germany.

Click to expand...

The economy is barely chugging along and it chugs along despite his best efforts to wreck things.

ARealConservative said:

you can't do anything but allow speculation. otherwise, no real value can be determined.

the real problem is we have went far too long not allowing true market corrections to occur. the system is demanding a massive market correction, and has for some time, but we just don't allow it.

we didn't allow housing markets to crash to a natural level, we had to come in and prevent further corrections.. we won't let wall street crash either. That is wrong.

deflation isn't just needed, it is wanted. bankers and financial planners are robbing us! a decrease in prices is the natural order. It is a reward for increased efficiency. We are being robbed of our just rewards. allow prices to fall. the banks will suffer, the ultra rich will suffer. the lower class will benefit from it.

Click to expand...

Cant because governments have long been corrupted and did not do their jobs, and like with figuring out how to fund Boomer retirements it is now too late for any solution, the clock ran out, the system is now too ****ed up to reform, we are going to have to go with death and the following rebirth of the next system. Maybe (likely I think) the next civilization.

Now we wait for the crash, that more and more people know is coming.

I hope to be dead before C day gets here.

polgara said:

Greetings, Chomsky. :2wave:

How much truth is there in the rumor that Saudi Arabia is buying up a lot of land in the US Southwest? We know what China has bought over the past several years - is the US for sale on the open market? :shock:

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Hi there, polgara -

I assume the point you're making is that yes, our economy & real-estate markets are indeed vibrant and valuable?

Because they definitely are.

As to foreign interests buying-up American real-estate, yeah this has been happening as long as I can remember - since the Japanese buying-up Manhattan in the late '70's and into the '80's.

Chomsky said:

Yes, but in defense of Montreal, it's a beautiful very cosmopolitan city; I visit often, ski in the small towns up north following l'autoroute 15 Nord/Route 117 through the Laurentians to Mont Tremblant, and have family all across ca., from Hamilton, Hull, & Toronto, through Calgary and on to Vancouver.

If I were to ever expat to Canada (not a complete impossibility), it would be for Montreal and that would be where I'd go.

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Yes but it is a horrible place to find work, and like many Canadian cities the cost of living is very high. Now the dollar is worthless so I would make even less. I would go to the US but I despise your political system and values. I believe Europe (Ireland or the Netherlands) to be my best bet at the moment.

Carjosse said:

Yes but it is a horrible place to find work, and like many Canadian cities the cost of living is very high. Now the dollar is worthless so I would make even less. I would go to the US but I despise your political system and values. I believe Europe (Ireland or the Netherlands) to be my best bet at the moment.

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Shifting deck chairs on the Titanic...everything in every place is going down. The interconnected global economy that was built by the crooks offers no other path.

Higgins86 said:

Global stock markets fall amid oil rout - BBC News

Stock markets worldwide have tumbled with investors unsettled by the continued slide in oil prices and fears about the impact on global growth

Europe's main markets closed sharply down, led by the FTSE 100, which sank 3.46%, or 203.2 points, to 5,673.58

The Dow has dropped over 500 points today.



Should we be worried about the this recent trend? Will growth continue to slow down? 2016 could be an interesting one.

Click to expand...

I don't see why this is such a bad things.
lower fuel prices = more people have money and it is cheaper to ship stuff
around.

that should lead to higher profits for most industries.
I am not really worried about it.

the market going down over the short term is fine with me.
better buying opportunities.

just don't invest in oil stocks and you are ok.