Check out the TB2K CHATROOM, open 24/7               Configuring Your Preferences for OPTIMAL Viewing
  To access our Email server, CLICK HERE

  If you are unfamiliar with the Guidelines for Posting on TB2K please read them.      ** LINKS PAGE **



*** Help Support TB2K ***
via mail, at TB2K Fund, P.O. Box 24, Coupland, TX, 78615
or


ALERT US futures /world markets dropping fast - news Gary Cohn resigned
+ Reply to Thread
Results 1 to 38 of 38
  1. #1
    Join Date
    Feb 2012
    Location
    Northeast Wisconsin
    Posts
    3,328

    US futures /world markets dropping fast - news Gary Cohn resigned



    US futures open WAY DOWN!!!

    Dow down 350

    Nasdaq down 100


    Haven’t seen that happen since 2008



    just confirmed by the NYT which reported that Gary Cohn, former Goldman president and COO and President Trump’s top economic adviser, is resigning, "the latest in a series of high-profile departures from the Trump administration, White House officials said on Tuesday."

    I have no link

    Nobody checks the market thread so I thought I better start a new one

    This is a financial thread and not a thread about him resigning

  2. #2
    Join Date
    Feb 2012
    Location
    Northeast Wisconsin
    Posts
    3,328
    I will be watching the Asian, European and US markets closely tonight

  3. #3
    Join Date
    Feb 2012
    Location
    Northeast Wisconsin
    Posts
    3,328
    This maybe adding fuel to the fire

    23 minutes ago
    U.S. SAID TO CONSIDER BROAD CURBS ON CHINESE IMPORTS, TAKEOVERS

  4. #4
    Join Date
    Feb 2012
    Location
    Northeast Wisconsin
    Posts
    3,328
    US stock markets current price points are not on solid ground when these type of news items have a dramatic effect.

    We haven’t seen the market react to news like this since 2008.

    I’m not saying we are facing a 2008 but this isn’t good news. We are continuing to see big swings.

  5. #5
    WW, I think that latter news would rattle the markets more than another resignation.

    ETA: I've been cautioned to expect continued extreme volatility in the markets for the time being; indefinitely. I don't think that "expert" knows the why behind it, however.

  6. #6
    Join Date
    Feb 2012
    Location
    Northeast Wisconsin
    Posts
    3,328
    Quote Originally Posted by Sacajawea View Post
    WW, I think that latter news would rattle the markets more than another resignation.
    I agree. Just couldn’t figure out another reason at first.

  7. #7
    Join Date
    Feb 2012
    Location
    Northeast Wisconsin
    Posts
    3,328
    Quote Originally Posted by Sacajawea View Post
    WW, I think that latter news would rattle the markets more than another resignation.

    ETA: I've been cautioned to expect continued extreme volatility in the markets for the time being; indefinitely. I don't think that "expert" knows the why behind it, however.
    I think they know exactly why! There are tons of economic indicators that the economy is slowing and the current market prices are expecting growth. May not be on marketwatch yet but I read the daily economic reports and they all have giant red flags.

  8. #8
    Join Date
    Dec 2011
    Location
    Interior Alaska
    Posts
    297
    I sold all my stock last Tues before it started down. Looked at the same stock today and it was up more than when I sold. Was kinda kicking myself a bit until I just saw the futures. Then looked at the stock I stock I sold is down again below what I sold it for. Not regretting my sell now, gut feeling may have been right after all.

  9. #9
    Join Date
    Nov 2008
    Location
    OUT SIDE OF THE FALSE REALITY
    Posts
    10,377
    Yep we are about done as a country and a world market, for sure so what do we do we just keep on keeping on what else can we do.
    JUST A FEW OF MY SIMPLE THOUGHTS
    LAY LOW WAIT LIKE A WOLF IN THE WILD UNTIL THE TIME IS RIGHT
    Never Pick A Fight With An Old Man He Will Just Shoot You He Can't Afford To Get Hurt

  10. #10
    Cohn didn't like the tariffs.
    https://soundcloud.com/user-309670005
    Audio Bhagavad Gita downloadable

    This knowledge is the king of education, the most secret of all secrets. It is the purest knowledge, and because it gives direct perception of the self by realization, it is the perfection of religion. It is everlasting, and it is joyfully performed.

  11. #11
    Join Date
    Feb 2012
    Location
    Northeast Wisconsin
    Posts
    3,328
    Nikkei futures open - down 2% right away

  12. #12
    Join Date
    Feb 2012
    Location
    Northeast Wisconsin
    Posts
    3,328
    VIX up 6.5%

    US Treasuries yields react now

    Will be a long couple of hours till Asian markets open or China makes any type of response to Chinese Import Limits

  13. #13
    Join Date
    Dec 2017
    Location
    Swimming in sea quarks
    Posts
    3,767
    Facts?? We don't need no stinkin facts...

  14. #14
    Join Date
    Feb 2012
    Location
    Northeast Wisconsin
    Posts
    3,328
    Dow futures down over 400

    Nikkei opens down but only 1% down right now

  15. #15
    Join Date
    Feb 2012
    Location
    Northeast Wisconsin
    Posts
    3,328
    Dow futures only down 300 now

    Asian futures were down but now the markets are open they are mixed. Some up some down

    European futures down at the moment

    Be interesting to see what daylight brings

    Usually the contagion isn’t contained to the US markets like this. Very interesting

  16. #16
    Join Date
    May 2002
    Location
    Beaverland
    Posts
    11,308
    If china gets pissed enough at our new trade barriers/tarifs, all China has to do is dump a few billion in US Treasuries, out of the hundreds of billions she owns, and presto: an instant financial crisis. China is between a rock and a hard place. Now that they have a new Emperor for life, are engaged in a vast, fascist social control test, expanding their military, expanding oversea bases, and ramping up for both the South China sea islands, and Taiwan, they are especially vulnerable to economic chaos with the USA. Yes, China can sell US treasuries, but Trump is judging they won't. The reason being China would hurt itself worse than it would hurt us.

    On the other hand, the Chinese leadership is seething with rage at Trump since he is no longer a patsy like Obama and Bush and Clinton were.

    We may not see a trade war out of this. We may see a shooting war instead.
    Doomer Doug, a.k.a. Doug McIntosh now has a blog at www.doomerdoug.wordpress.com
    My end of the world e book "Day of the Dogs" will soon be available for sale at smashwords. The url is
    https://www.smashwords.com/books/view/267340 It is also at the following url
    http://www.amazon.com/-/e/B007BRLFYU

  17. #17
    Join Date
    Sep 2007
    Location
    Seattle
    Posts
    28,382
    I fear some kind of "economic war" with China.

  18. #18
    Join Date
    May 2004
    Location
    Cincinnati
    Posts
    2,486
    Trump announces tariffs for steel and aluminum,
    suddenly North Korea wants to denuclearize.
    and union steel workers rejoice and Democrats lose another voting blok

    What's not to like about this?

  19. #19
    Join Date
    Feb 2012
    Location
    Northeast Wisconsin
    Posts
    3,328
    Good employment numbers from non farm employment report helping futures pull up a little

    Dow down 250

    Nasdaq and S&P recovering more than the Dow

  20. #20
    Join Date
    Sep 2014
    Location
    WI
    Posts
    2,243
    But but but, there just CAN'T be an economic crisis when TRUMP is president! He won't ALLOW it!



    At least that's what many of the Trumpbots here claim. I am neither overly pro-Trump or anti-Trump, but to claim we can't face an economic crisis when anyone is President is utter foolishness.

    And yes, I know that the DOW dropping 300 points, or even 1000, is no crisis, that isn't to say they aren't signs of a bigger systemic problem brewing.
    “Pay heed to the tales of old wives. It may well be that they alone keep in memory what it was once needful for the wise to know.” – J.R.R. Tolkien
    "Happiness can be found, even in the darkest of times, if one only remembers to turn on the light." - J.K. Rowling "Remember who the real enemy is." - Suzanne Collins "Winter is coming." - George R.R. Martin

  21. #21
    Join Date
    Feb 2012
    Location
    Northeast Wisconsin
    Posts
    3,328
    I agree that the big boys don’t like their insiders leaving the White House.

    The markets are like snowflakes and melting over the news.

    Steel stocks like the news.

    US futures sinking again into the opening bell

  22. #22
    Join Date
    Feb 2012
    Location
    Northeast Wisconsin
    Posts
    3,328
    Dow opens down 308 points

    Nasdaq off 50ish

  23. #23
    Join Date
    Sep 2012
    Location
    Kentucky
    Posts
    1,431
    Quote Originally Posted by Blastoff View Post
    Trump announces tariffs for steel and aluminum,
    suddenly North Korea wants to denuclearize.
    and union steel workers rejoice and Democrats lose another voting blok

    What's not to like about this?
    ^^^This^^^

    The global elites are in a panic because Trump understands that unrestricted free trade is bad for America, and is doing something about it. That's why Cohn resigned. The Goldman-Sachs types are probably apoplectic that they can't control Trump. To all of you who are getting the vapors I would say just take a deep breath and chill. At the end of the day we'll all be better off.
    Blue 5

    Wherever you are, wherever God takes you, fly high.
    -Edward Ormondroyd

  24. #24
    Join Date
    May 2004
    Location
    Cincinnati
    Posts
    2,486
    "free trade" hasn't worked because our trading buddies cheat
    our north American "neighbors" Canada and Mexico are the WORST cheats of all
    Robert Frost was right, "good fences DO make good neighbors"

  25. #25

    Strange markets

    I follow the indices daily, primarily to keep track of the precious metals action. Stocks and (especially) PMs have been acting strangely for a couple of weeks and I expect a major move in the near future. I believe we'll see a major crash in equities and the long-awaited moonshot for PMs. Time will tell.

    Best regards
    Doc

  26. #26
    Join Date
    Mar 2009
    Location
    A Socialist State
    Posts
    17,082
    Quote Originally Posted by Warm Wisconsin View Post
    I agree that the big boys don’t like their insiders leaving the White House.

    The markets are like snowflakes and melting over the news.

    Steel stocks like the news.

    US futures sinking again into the opening bell
    Fair use


    Phase-2 MAGAnomic Policy – NEC Director Gary Cohn Departs Administration…

    Posted on March 6, 2018 by sundance

    There will obviously be another media cycle decrying crisis at the White House with the announcement that National Economic Council Director Gary Cohn is departing.

    However, for those who follow the administration closely, this was a foregone conclusion; the MAGAnomic “America First” policy has a specifically timed exit ramp for just this purpose.

    We have previously outlined the relationship between President Trump and Gary Cohn HERE – Along with what each of them brings to the perspectives of the other. In addition, the larger Trump economic policy always held two distinct aspects:

    The financial aspects – taxes and monetary policy stability; or perhaps more succinctly the Wall Street aspect.
    The trade, jobs and manufacturing aspects – trade policy; or perhaps more succinctly the Main Street aspect.

    The implementation of Trump’s economic policy involves those two elements: Taxes and Trade. Inside the Trump administration there are economic policy advocates who agree on the tax element, but disagree on the trade element. Economic adviser Gary Cohn is an example.

    The Wall Street crowd align with Trump on taxes, but fundamentally split from him on trade. The combined Trump policy is part of the larger America-First initiative, but some within the economic team only agree with half of the aggregate policy. This is why there is a split.

    As previously noted, with the tax reform proposals in place (the basis for domestic economic investment), the focus of Trump’s economic platform turns specifically to Main Street. This policy split is what makes President Trump so stunningly unique amid politicians. POTUS Trump splits from the traditional republican economic outlook on matters surrounding Main Street’s best interests.

    Inside this dynamic, and the goal to restore a ‘balanced’ U.S. economy, is where the importance of Gary Cohn diminishes and the role of Commerce Secretary Wilbur Ross elevates. Secretary Ross is the person creating the fulcrum in the balanced economy reset.

    POTUS Trump and Secretary Ross always knew they would need to jettison part of the administrations’ economic team once they accomplished, and moved past, tax reform.

    Their focus now is laser targeted policy toward Main Street. Consider this ‘Phase-2

    We are now inside phase-2 of the total policy execution. Secretary Ross outlined how the ‘America First’ economic policy and phase-2 platform engages with the global community during a panel discussion at the World Economic Forum in Davos, Switzerland in January.

    The corporate media, even the financial media, never highlighted the severity expressed by Wilbur Ross at Davos – because the Main Street policy he was explaining is directly against their interests. During the Davos World Economic Forum, Ross conveyed to the larger multinational interests an explanation of the high-level shift in U.S. trade policy, and reinforced the Trump Doctrine of economic nationalism.

    Secretary Ross told the panel: “The Chinese for quite a little while have been superb at free-trade rhetoric and even more superb at highly protectionist behavior. Every time the U.S. does anything to deal with a problem, we are called protectionist.”

    “Protectionists” the opposition was predicted to shout by Ross in January. Well, cue the audio visual demonstrations over the past few days surrounding Steel and Aluminum tariffs.

    Also at Davos in January, after three decades of President Trump outlining his trade views, secretary Ross accurately said President Donald Trump has a forceful leadership style that some people don’t like. “We don’t intend to abrogate leadership, but leadership is different from being a sucker and being a patsy. We would like to be the leader in making the world trade system more fair and more equitable to all participants” Ross said.

    Secretary Ross also challenged the panelists, including World Trade Organization Director-General Roberto Azevedo and Cargill Inc. CEO David MacLennan, to name a nation that’s less protectionist than the U.S. – – – He got no responses.

    Not taking any guff, Secretary Ross then cited a study of more than 20 products that showed China had higher tariffs on all but two items on the list, and Europe all but four. The panel sat jaw-agape at Ross’s delivery of irrefutable facts to the audience. “Before we get into sticks and stones about free trade we ought to first talk about, is there really free trade or is it a unicorn in the garden,” said Ross. Again, no response from the panel.

    Despite the tariffs Trump imposed in January on solar panels and washing machines; and despite the proposition of Steel and Aluminum tariffs, China is planning for a “bumper year” for new trade deals, according to China’s own Commerce Ministry.

    For the past 30+ years, DC politicians have been selling out the U.S. economy to corporate interests, Wall Street and multinationals. President Trump is simply saying “no more”, and finally putting a stop to it. They hate him. He doesn’t care.

    https://theconservativetreehouse.com...dministration/
    Don't just go to church. BE THE CHURCH!

  27. #27
    Join Date
    Jul 2005
    Location
    Happy on the mountain
    Posts
    58,427
    Gee, it's too bad that the departure of the Vampire Squid globalist has discombobulated the markets so much.
    The wonder of our time isn’t how angry we are at politics and politicians; it’s how little we’ve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  28. #28
    Join Date
    Dec 2017
    Location
    TX
    Posts
    956
    Bounce to -178...

  29. #29
    Join Date
    Feb 2003
    Location
    Paradise, New Hampshire
    Posts
    1,070
    This entire financial fiasco reminds me of a speech by Ross Perot concerning NAFTA when candidate for President. Incidentally, I DID vote for him. (run time: approx 2.5 min)

    https://www.youtube.com/watch?v=Rkgx1C_S6ls
    “The object of war is not to die for your country but to make the other bastard die for his.” - George S. Patton

  30. #30
    Warm Wisconsin........ where did you get the info from post #3? I would like to find out more about that

  31. #31
    Join Date
    Jul 2005
    Location
    Happy on the mountain
    Posts
    58,427
    Alls ya gotta do is copy the relevant part - U.S. SAID TO CONSIDER BROAD CURBS ON CHINESE IMPORTS, TAKEOVERS - and then paste it into your favorite search engine and WALLA
    ==========================

    https://www.bloombergquint.com/china...orts-takeovers

    U.S. Said to Weigh Broad Curbs on Chinese Imports, Takeovers

    Andrew Mayeda
    Jennifer Jacobs
    7 March 2018, 11:08 AM
    6 March 2018, 6:00 PM
    /////snip/////
    The wonder of our time isn’t how angry we are at politics and politicians; it’s how little we’ve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  32. #32
    Join Date
    May 2001
    Location
    Ontario, Canada
    Posts
    1,556
    Folks. At some point, can we stop with the hysteria about events and the markets? Can we stop shouting that the world is ending and the markets will collapse and we're doomed when futures drop a bit?

    And flashing this:

    US futures open WAY DOWN!!!

    People - a cursory and trivial look at a DJIA chart will demonstrate that the markets DO NOT MOVE to ANY significant extent for ANY period of time over about 30 minutes to ANY event on the news. Cohn quitting, Trump tweeting, NK reacting, hurricanes, Supreme Court rulings...NONE of that move markets to any extent that can be seen.

    Geesh.
    The country has been conquered and is under occupation. That's a fact. Before you dispute it, gather your facts. Got any?
    "No one in this world, so far as I know, ...has ever lost money by underestimating the intelligence of the great masses of the plain people." H.L. Mencken
    "Oh, the Drama!"

  33. #33
    Join Date
    May 2004
    Location
    2004 Soviet of Washington
    Posts
    8,927
    Some people are starting to get a clue as to how President Trump thinks, values and acts.The fat cats and foreigners [who have been screwing American workers blue and sweaty] are seeing an end to their party.
    Cry me a river.
    In a sense, President Trump punked Mr. Cohn and to some extent, Wall Street too,
    Mr. Cohn may feel used.
    SS


    Why Gary Cohn's departure from the White House could be good news

    The usual media spin is being applied to the announcement of Gary Cohn's pending departure from his post as President Trump's economic adviser. It just has to be a disaster, an indicator of "chaos" in the White House and evidence that all right-thinking people agree that the newly announced proposed tariffs in steel and aluminum import are a bad, bad, bad idea. The frosting on the cake is that Cohn had previously criticized President Trump's initial remarks following the Charlottesville demonstrations that ended in a fatality. As CNBC delicately put it, the remarks "also fueled the possibility of Cohn, who is Jewish, resigning." (Pure speculation!)




    Here are some factors mostly ignored by the media to consider:

    Cohn has already accomplished his major task: passage of the tax reform bill that is spurring the economy to what should be called "The Trump Boom."
    One major item missing from the tax reform bill was President Trump's commitment to eliminate the gigantic tax break for Wall Street called the "carried interest" provision, which allows individuals to pay capital gains taxes, not income taxes, on certain kinds of income realized by the hedge fund crowd. Cohn, as the former president of Goldman Sachs, was likely the major reason why this promise was not kept.
    Since CNBC and many others are speculating, let me repeat some gossip I heard: once the new chairman of the Federal Reserve was named, and was not named Gary Cohn, his departure from the White House became certain. After all, he can return to Goldman, or set up his own hedge fund, and make a huge income. Being chairman of the Fed is a sufficiently prestigious and influential position to outweigh that kind of gain, but a mere adviser serving at the pleasure of a president who is not a globalist or free-market devotee pales, especially now that he gets credit for the tax reform.
    President Trump actually likes turnover and is comfortable with uncertainty and disagreement among his closest staff, aka "chaos." Remember that his life experience is mostly in real estate development, and construction, which is project-based. That means that when a project is completed, many people depart. And when a new project begins, new staff is recruited. He may well consider the tax reform bill a project. The next economic project – tariffs to protect endangered industries, or maybe elimination of the carried interest provision – requires a somewhat different mix of talent.
    https://www.americanthinker.com/blog...good_news.html
    “Then the creatures of the high air answered to the battle, .., and the woods trembled and the wind sobbed telling them, the earth shook,; the witches of the valley, and the wolves of the forests, howled from every quarter and on every side of the armies, urging them against one another.”
    ― Lady Gregory, Gods and Fighting Men: The Story of the Tuatha De Danaan and the Fianna of Ireland

  34. #34
    Join Date
    Feb 2012
    Location
    Northeast Wisconsin
    Posts
    3,328
    Quote Originally Posted by tiredude View Post
    Warm Wisconsin........ where did you get the info from post #3? I would like to find out more about that
    m

    I will look a little later today. I think CNBC but not positive. Will have to look in my history

  35. #35
    Join Date
    Oct 2014
    Location
    SE Georgia
    Posts
    1,762
    Quote Originally Posted by alpha View Post
    This entire financial fiasco reminds me of a speech by Ross Perot concerning NAFTA when candidate for President. Incidentally, I DID vote for him. (run time: approx 2.5 min)

    https://www.youtube.com/watch?v=Rkgx1C_S6ls
    As did i.

  36. #36
    Join Date
    Jul 2005
    Location
    Happy on the mountain
    Posts
    58,427

    I will look a little later today. I think CNBC but not positive. Will have to look in my history


    See #31 ...
    The wonder of our time isn’t how angry we are at politics and politicians; it’s how little we’ve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  37. #37
    Join Date
    Feb 2012
    Location
    Northeast Wisconsin
    Posts
    3,328
    Quote Originally Posted by DHR43 View Post
    Folks. At some point, can we stop with the hysteria about events and the markets? Can we stop shouting that the world is ending and the markets will collapse and we're doomed when futures drop a bit?

    And flashing this:

    US futures open WAY DOWN!!!

    People - a cursory and trivial look at a DJIA chart will demonstrate that the markets DO NOT MOVE to ANY significant extent for ANY period of time over about 30 minutes to ANY event on the news. Cohn quitting, Trump tweeting, NK reacting, hurricanes, Supreme Court rulings...NONE of that move markets to any extent that can be seen.

    Geesh.
    I dont start any of the deathburger threads. I normally only post to the market thread.

    I watch and trade the markets daily.

    However, it is very unusual for the futures to fall 400-500 points in 90 seconds and it not be a flash crash. By flash crash I mean immediately recover the point loss.

    I didnt say the world was ending. I said the world markets had the same reaction of an immediate drop. Again highly unusual for many equity markets to react.

    I posted this thread as an ALERT - You know alerting people to the fact it just happened, since I figured I was the only one who noticed.

    When I posted it I couldn't even figure out why it happened. These types of things normally are an indicator of a large event.

    Sorry if this gets under your skin.

  38. #38
    Join Date
    Feb 2012
    Location
    Northeast Wisconsin
    Posts
    3,328
    Update - European markets closed up on a late day rally

    VIX is been steady around 19 - This means increased level of volatility

    Dow down 324 (was only down 100 some points for a while)

    500 point swing on the day

    I still believe we have to retest the "flash correction"

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts


NOTICE: Timebomb2000 is an Internet forum for discussion of world events and personal disaster preparation. Membership is by request only. The opinions posted do not necessarily represent those of TB2K Incorporated (the owner of this website), the staff or site host. Responsibility for the content of all posts rests solely with the Member making them. Neither TB2K Inc, the Staff nor the site host shall be liable for any content.

All original member content posted on this forum becomes the property of TB2K Inc. for archival and display purposes on the Timebomb2000 website venue. Said content may be removed or edited at staff discretion. The original authors retain all rights to their material outside of the Timebomb2000.com website venue. Publication of any original material from Timebomb2000.com on other websites or venues without permission from TB2K Inc. or the original author is expressly forbidden.



"Timebomb2000", "TB2K" and "Watching the World Tick Away" are Service Mark℠ TB2K, Inc. All Rights Reserved.