Asis markets falling : LUSENET : TimeBomb 2000 (Y2000) : One Thread

Japan now below 17,000 @ 16,899, down 426 points since the market opened an hour ago.

-- Argh (, September 23, 1999



-- Chris (#$%^&, September 23, 1999.

Wow! Off 508 points now. That's more than 1100 points , or 6%, in two trading day.

-- Argh (, September 23, 1999.

Wait a minute......Ooooops!

Down 570


-- Paul Milne (, September 23, 1999.

'scuse me. That was two minutes ago...

Down 620


-- Paul Milne (, September 23, 1999.


Inquiring minds want to know.

-- Kurt Ayau (, September 23, 1999.

Where ARE my manners?

Down 63...


Down 64...


Down 65...


DOWN 660

Back in a minute...


-- Paul Milne (, September 23, 1999.

Hi Kurt. How's things at VMI?

-- Paul Milne (, September 23, 1999.

Just watched Sec. of Treasury Summers on the News hour. Lehrer mentioned about the wall street drop and the strength of the Yen over the Dollar, Summers said it wasn't his job to watch the markets and the dollar will do what ever the market decided. He would just stick to the "fundamentals". Avoided the situation nicely. What I found funny is the Nightly Business Report blamed the Wall street drop on the Microsoft pres. saying that high tech stocks were over valued. It is looking as if there is a bit more to it than that. Why would Lehrer suggest one thing and the stock folk suggest another. And then Summer say that he has no concern over the dollar? Wierd.


Thanks for that Yahoo link! Handy.

-- Brian (, September 23, 1999.

MAyBE We aRE APProacHINg thE TOp pf THe ROLLerCOaSTer!!!!MAyBE DiETeR2 THinKS We ARe oN ThE Way DooWWWNNNNNNNNNN!!!!!!!!! ARGHHHHHHHHH!!! FeEL tHE WinD iN DiEtER2'S HaiR, As aLL His MONey is FALliG OuT of HIs POckETS!!!!

-- DiETer2 (, September 23, 1999.

Why are any of us surprised at this? GAWD! Go back and look into the archives and it's filled with predictions of this happening. Wasn't there a poll taken here recently and the majority said they expect the stock to drop 30%? Even a few of "experts," today said they were expecting it to happen....hmmmm, now I don't recall anyone on TV saying that....they come out of the woodwork don't they? Glad I got out long ago!

-- bardou (, September 23, 1999.

Tokyo Nikkei Average Ends Morning Session Down 3.36 Pct at 16,743.83 .

-- Stan Faryna (, September 23, 1999.

Hk's Hang Seng Index Down 266 Pts, 2.02 Pct at 12,947 in Early Trade

-- Stan Faryna (, September 23, 1999.

Knight Ridder had a story in this mornings paper quoting a jubulant IMF who says the world economy is out of the woods and the recovery is well underway.

And the fat lady begins her song...

-- a (a@a.a), September 23, 1999.

I'm forever blowing bubbles........

-- helium (, September 23, 1999.

anyone care to venture a guess how the US markets will open tomorrow? it me or is the yahoo graphic stagnant? Stuck at -581?



-- Michael Taylor (, September 23, 1999.


I thought you'd appreciate this:

"Japan is expected to produce more modest gains for this year but expectations are for a robust 2000, despite worries that the yen's rise could hurt the country's economic recovery."

"In Hong Kong the picture is brighter with the government saying economic growth is possible this year after a 5.1 percent contraction in 1998."

Sincerely, Stan Faryna

-- Stan Faryna (, September 23, 1999.

The Fat Lady's clearing her throat, taking a sip of water, warbling some warm-up octaves. Will the backstage man call her back behind the scenes for a few more weeks? Or is the curtain parting for her Big Aria? Where are dem circus folks when ya need 'em ...

-- Ashton & Leska in Cascadia (, September 23, 1999.

Mike: The graphic isn't stuck. They close the martket for lunch over their.

Nasdaq down 13 more points in overnight trading.

-- Argh (, September 23, 1999.

The fat lady is beeped again by her broker.

She whips out her cell phone and -- oh no -- the battery's running DOWN!

-- Randolph (, September 23, 1999.

"Why are any of us surprised at this?"

Bardou, because up until now I was hoping I could still convince my DWGI numbskull hubby to pull out of the market!

This rollercoaster is the wildest I've been on, I'm going to barf, watch out whoever posts after me!

dIETer, you look smashing with the wind in your hair. Were your hair always green?

-- Chris (#$%^&, September 23, 1999.

Closed for lunch? Wow...I usually have to work through mine : )

How can they eat when during a death spiral? Don't they know the fat lady is warming up?



-- Michael Taylor (, September 23, 1999.

Chris, I would be barfing too! Sorry you lost some $$$, and now maybe your DWGI hubby will GI now. Maybe you should run off some past posts with our predictions and set them on the toilet for your husband to read. Don't through the posts away, he made need them for TP. Good Luck.

-- bardou (, September 23, 1999.

The Market will be better after some lunch, I'll have 2 Suba, 2 Mirugai and some Kohada. 2 Sapporo's to wash it down.

-- && (&&@&&.&), September 23, 1999.

I'm not sure if Greenspan can help this time. He can't lower interest rates - 'cuz the dollar is already sinking like a rock.

He can't raise interest rates, 'cuz the DOW is sinking like a rock (since apparently the Fed now watches the markets as per his speech of several weeks ago).

If he leaves things the same, all indications are that BOTH the dollar AND the market will tank. So perhaps he'll lower interest rates in the near term to delay the inevitable for 3 more months. Then he can assume history will say it was Y2K's fault, not Central Bank shenanigans.

BTW - how much you want to bet that several Hedge funds are getting it in the shorts with that Yen rise?


-- Jollyprez (, September 23, 1999.

Tokyo market is closed for holiday. I'd be willing to bet that the automatic 10% shutdown on the NYSE is going to get it's first real test tomorrow. DOW will close down 1038 points to end at 9343.

-- @ (@@@.@), September 24, 1999.

Maybe I am just naive... Maybe I am just tired and ready to go to bed... BUT

We have seen this same scenario before this year. DOW drops big time for 3 times in a row, we think that it could be the first sign of things to come and then on Friday all the "Bargain" hunters are buying like crazy.

Here at work people are getting downright "giddy" seeing the stock market drop. What GREAT buying opportunity this is...

I cashed out what little that I had at 9600. Am glad too..

-- STFrancis (, September 24, 1999.

Ooops! Trouble with my math again. That would be down 1031, close at 9287.

-- @ (@@@.@), September 24, 1999.

REMEMBER THE (MAINE NO)Plunge Protection Team!! They only have to work on 30 issues and have the HOUSE MONEY to play with. LOOK at the OTHER INDICES on Friday, after the PPT "Fixes" the DOW 30!!


-- Chuck, a night driver (, September 24, 1999.

waiting to see what happens today.....

-- Moore Dinty moore (, September 24, 1999.

Nyquist recently had an article in which he divulged that Russia and China had put billions of dollars in the market for the purpose of causing a market collapse.


Sabotage was another strategically significant part of the infiltration operation. Through organized crime you could get into the back door of many legitimate companies. And you could cause mayhem in these companies. In fact, according to two of the Soviet bloc's leading defectors -- Jan Sejna and Anatoliy Golitsyn -- an ultimate goal of Moscow's strategy was to crash the West's economy at an opportune moment.

In this context, we ought to wonder about the laundering of $15 billion through the Bank of New York and other Western banks (especially in Switzerland and England). Where is this money ultimately going? Could the astronomical rise in the Stock Market have anything to do with it? According to a source formerly employed in U.S. banking, the Russians and Chinese have been laundering huge sums of money, and much of this money has been invested in our stock market. This source speculates that these funds have been used to purposely push the market to the record levels we have witnessed since the fall of the Soviet Union.

Imagine the game that may be unfolding. Has Russian money been strategically employed in our stock market? Consider the way things work: to invest heavily in stocks is to buy influence in leading American companies. And what if the aforesaid funds were suddenly withdrawn? Would the market deflate? Would there be a financial crisis -- a depression as happened after the stock market crash of 1929?

And then there is the political angle. Some readers may remember that President Clinton was photographed with a leading Russian mobster, Grigori Loutchantsky, head of the now infamous Nordex company. This company is alleged by some investigators to be a KGB front. Loutchantsky himself began his career as an employee of the Latvian Communist Party Central Committee.

Today the headlines are full of sinister financial news. The Bank of New York is being investigated for laundering over $200 million from Russia. Russian mobsters have been discovered worming their way into the banks in Switzerland and England. The news wires are full of speculation about Russian moles in Western banks. Has anyone considered what is actually going on?

Vice President Al Gore has been criticized by leading Republican presidential candidates because he sat on a reform commission with Kremlin leaders whose ties to the Russian mafia are now well known. But Gore gave the green light to assisting the mobsters in the Kremlin, agreeing that billions should be sent to them. It is well known that the CIA attempted to warn Gore about his Russian colleagues on the commission, especially about Viktor Chernomyrdin. When Gore read the CIA report on Chernomyrdin he scrawled four letter words across it and sent it back.

Gore's reaction was hardly appropriate or responsible. Nor was it very smart for President Clinton to have his picture taken with Loutchantsky, who has since openly bragged that he was bribing the U.S. president.

More significantly, let us turn to Prof. Zbigniew Brzezinski's Friday article in the Wall Street Journal, entitled, "Bombshells lurk in the Russian Scandal." Here we find the major pieces of the puzzle fitted together. According to Brzezinski, "something has gone fundamentally wrong with the financial aid for Russia that U.S. taxpayers have so generously been doling out."

Brzezinski says there are two explosive questions about these emerging scandals. First, is Russia really a democracy? And second, who in the West has benefited by the billions sent to Russia.

In answering the first question, Brzezinski points out that today's rulers in Russia are hardly democrats. To a man, writes Brzezinski, they "would have felt fully at home in any government of the former Soviet Union." In fact, according to Brzezinski, the current governing elite in Russia "is composed in toto of former Communist Party ... aspirants." Truthfully, it can be said that the leaders of democratic Russia are no more attached to democracy than they are to capitalism.

Brzezinski has noticed that the organized crime front in the Kremlin has served a sinister propaganda purpose. It has served to associate capitalism and democracy with criminality in the thinking of the Russian people. What Brzezinski doesn't mention, is that Russia's crime problem -- which the KGB controls and directs -- has been used to justify the suspension of basic civil rights throughout the Russian Federation. Yes, that's right, in Yeltsin's Russia the police can arrest you and jail you for a month without charging you with a crime. They can search your home without a warrant. They can pry into your financial records without cause. All of this is justified because Russia is overrun by criminals. Consequently, in Russia, there are no procedural rights, no presumption of innocence by the accused. Former Prime Minister Sergei Stepashin is famous for declaring, while he headed the secret police, that "I am in favor of violating human rights if the person involved is a bandit or a criminal."

Needless to say, this is an attitude typical of the Stalin era.

Toward the end of Brzezinski's Wall Street Journal article, he touches on the second explosive question related to the Russian financial scandals. He asks whether the "political process in the West" has remained immune from corrupting influences? Obliquely referring to President Clinton's photo opportunity with Loutchantsky, Brzezinksi suggests that "the political process in America may be vulnerable to contamination as the result of the massive inflow of illicit money from Russia." This, he further says, raises "grave and disturbing questions."

Unfortunately, Brzezinski does not go far enough. If he had consulted the testimony of various Communist defectors he would know about the Kremlin's longstanding employment of organized crime as a weapon against the West. He would know that Russia's continued war preparations, Russia's alliance with China, and its continued use of organized crime to penetrate our most important institutions demonstrates that the Cold War never ended. In truth, the old gang in the Kremlin merely converted the Soviet Empire into a false democratic front, from which they daily rob us of our money and our vital technology. This, by now, is indisputable. It is part of the historical record of our century. And yet, people like Brzezinksi fail to state this truth in plain terms.

Cutting through all that has been said about the unfolding financial scandals, there is a definite threat to our nation's security. It must be admitted that Russia's penetration of our banks and markets is not an innocent development. It must not be viewed as an isolated case that stands alone. It is part of an overall pattern. Under the circumstances, our government should be reacting as if it were under attack -- because, in fact, it is under attack. But our government does almost nothing. In fact, our financial and political leaders want to go ahead and send an additional $4.5 billion to Russia, so the Russians can service the interest on their huge debt to the West.

There is something rotten in New York and there is something even more rotten in Washington. The enemy advances on every front -- political, financial, criminal and diplomatic. When are we going to meet that enemy with strength and put an end to his manipulations?

-- Bb (, September 24, 1999.

rushing down?

-- now what? (update@this.thread), September 24, 1999.


OK, the Russians might be sloshed on vodka when they make their secret deals, but who really cares?

The hands are shaken, the pictures are taken, and the press dutifully reports what the propanganda ministers desire.

What matters to them is that the general populace believes progress is being made.

However, the secret deals are contrary to public opinion, and most people do not know of these conspiracies.

And do they care? NO! They are too entertained with their movies and television shows to consider doomsday scenarios.

Expect more startling news to be published in cyberspace...

-- Randolph (, September 24, 1999.

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