Oh My My theres that dreaded 666 number again

Aug 9, 2011 @ 12:24 PM 9,417

Why Does "666" Appear In Stock Panics?

Rich Karlgaard , Forbes Staff I

 

The number 666, according to some interpretations of the Bible's Book of Revelation, is the number of the beast. That beast would be Satan, of course -- e.g., Beelzebub, the prince of demons, Nancy Pelosi's sandwich maker.

This beastly number, 666, has also weirdly popped up during recent stock market panics. On March 9, 2009, the S&P index hit its lowest point -- 666, of course -- of the Great Recession.

Monday the S&P fell, you've got it, 6.66%. Does Monday's 6.66% drop thusly mark the demonic bottom of the August 2011 panic?


 http://www.cbc.ca/news/business/stock-markets-investors-shares-1.4528126

North American stocks fall further after Thursday's rout

Canadian job losses and sliding oil price weigh on Canadian market

Rajeshni Naidu-Ghelani · CBC News · Posted: Feb 09, 2018 12:11 PM ET | Last Updated: an hour ago

 

791 Comments                                                                                                Commenting is now closed for this story.

 

 
Hugh MacDonald

The stock markets aren't doing so well, but I slept like a baby last night. I woke up every hour and cried.

David Amos

@Hugh MacDonald Methinks you were not alone. I bet baby monitors used to catch thieves kept many people awake all night with other people wailing and crying all over their neighbourhoods N'esy Pas?

Dennis Brady

Maybe it's time for "investors" to accept the stock market is more casino than investment?

David Amos

@Dennis Brady Methinks its way past high time for folks to know that. i believe that most do. However ordinary folks have no control over their pension investments. Hence their futures are in the hands of malicious gamblers who charge them to play their wicked game for nobody's benefit but their own N'esy Pas?

  

William Ben

Well one positive today, the Conservative party are campaigning on a Stop the Carbon Tax Scam platform in Ontario according to polls this would deliver a landslide victory for the Conservatives. Who would of thought?

Helen Anderson

@William Ben I hope they do....when on a fixed low income you cannot afford for your carbon tax to double and everything else increasing in price.

David Amos

@Helen Anderson Methinks a Stop the Carbon Tax Scam platform would insure many political victories.

 James Watson

It's the end times and the time of tribulation is upon us - be afraid, very afraid - sell me your Rolex for $35 and give all your wealth to the Church!

David Amos

@James Watson Methinks that he who panics first panics best these days N'esy Pas?

 
Val Graham

In other news, I've attached Justin's portrait in my basement bathroom and now every time I go there I sing the new Canadian Anthem, this gives me a sense of being really Inclusive and very happy in my endeavors.

Billy Bayou

@Val Graham
Meanwhile Trump runs around the White House singing..................
"My baby does the hanky panky".........................

Mark Gregory

@Val Graham In the basement! And when you look in his eyes does it stand to attention?

Henri Bianchi

@Val Graham

The bathrooms in my house have always been gender-neutral.

Mark Gregory

@Val Graham I assure you we're not really interested how happy you are in your "endeavors" you are with Justin in your basement bathroom!

Mark Gregory

@Val Graham Come on!

Mark Gregory

@Val Graham You're inclusive with Justin? Who's else is there with you two?

Shirley Witt

@Val Graham
Very appropriate tribute, anything more direct is banished!

John Kubicki

@Val Graham

Stroke me stroke me..STROKE!

Helen Anderson

@Val Graham Yes I have a portrait too and throwing arrows at it every time I see it.

David Amos

@Val Graham Interesting series of CBC allows to be posted abut you people while it deletes so many valid observations about the performance of the stock markets today N'esy Pas Mr Prime Minister Trudeau "The Younger" and Minister Joly??

 

 

Kim Moore

So many partisan comments here. As if either the President or the Prime Minister can control the stock market.

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David Amos

@Kim Moore "So many partisan comments here."

How can I be partisan? FYI I ran for public office five times as an independent because of the actions of banksters and Feds against my Clan

Google Harper and Bankers

or

David Amos Bank Fraud

  

Billy Bayou

I have a mansion but forget the price
Ain't never been there, they tell me it's nice
I live in hotels, tear out the walls
I have accountants, pay for it all......................................

Gord McPherson

@Billy Bayou

And he's up there, what's that? Hawaiian noises?
Bangin' on the bongoes like a ORGANGATAN
Oh, that ain't workin' that's the way you do it
Get your money for nothin', get your chicks for free

Billy Bayou

@Gord McPherson
I'm just an ordinary average guy
My friends are all boring
And so am I
We're just ordinary average guys
We all live ordinary average lives
With average kids
And average wives
We're just ordinary average guys..................

David Amos 

 @Billy Bayou

Everybody knows that the dice are loaded
Everybody rolls with their fingers crossed
Everybody knows the war is over
Everybody knows the good guys lost
Everybody knows the fight was fixed
The poor stay poor, the rich get rich
That's how it goes

Everybody knows that the boat is leaking
Everybody knows that the captain lied
Everybody got this broken feeling
Like their father or their dog just died
Everybody talking to their pockets
Everybody wants a box of chocolates
And a long-stem rose

David Amos

@David Amos Howcome I can't quote a righteous tune?

David Amos

@David Amos YO CBC can anyone expect ethical conduct from you people anytime soon?

 

Garry Walton

As 61% of Can adians that voted, and as many pundits forecast, and as many that knew his

father, history will be written to show justin, sock boy, will be the most languished, laughed

at, tragic PM that Can ada has had to suffer.

He can ride the wave of his father's notoriety for so long but sooner or later the wave

crashes on the shore.

You know what will wash up?

Socks, just socks.

Bill Mavin

@Garry Walton How many Canadians did not vote for the reformcons?

Garry Walton

@Bill Mavin

Good liberal question.

How do you determine that % in a general election?

You must be an adviser to sock boy.

David Amos

@Garry Walton Folks should wonder about you too.

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David Amos

@Garry Walton Your comments beg the obvious question.

Who do you advise?

David Amos

@David Amos Trust that I was not surprised to see the "Content disabled." notice after CBC has made so many other comments go "Poof" today EH?

 
donna gregoire

....amazing how the Liberal posters here think because the TSX hasn't dropped as much in the last week as the DOW that somehow the Canadian stock exchange must be doing better...no cure for --------.........

David Amos

@Darryl McBride "You miss the fact that all of the world went into a down turn in 2008, what is JT's excuse?"

Good point

 
donna gregoire

...the TSX was over 15,500 in the summer of 2014...now 3 1/2 years later its down to 15,000...nice work Morneau ..nice work justin...nice work voters....

David Amos

@donna gregoire Methinks the lady doth jest too much N'esy Pas?

 

Chris Williams

Remember in December when Trudeau and all the news was so excited about all the new jobs created? 59k gone last month, highest in 9 years. So that is 59k Canadians out of work and we are dishing out 3k a month to illegals streaming across our border and never paid a dime in taxes. Approximately 30k non Canadians are comfortable with a government check every month and all to boot with it and 59k of our own are desperate now.

David Amos

@Chris Williams You forgot all the folks such as I who quit looking for work

 

Pete Shartin

the Canadian markets and the Canadian economy may not survive trudeau and his 1960s communist ideology from his step father Pierre

Lily O'Loughlin

@Pete Shartin
The ups and downs of the stock market have very little to do with Trudeau. But I guess you Cons think he is all-powerful.

Alan Sadler

@Lily O'Loughlin

The stock market has everything to do with how investors view the future and policies of a country.

David Amos

@Alan Sadler YUP

  

Jim Gurtle

Why anyone serious about investing in Canada would vote Liberal or NDP is beyond me. Serious blind spot to risk.

David Amos

@Jim Gurtle "Why anyone serious about investing in Canada would vote Liberal or NDP is beyond me."

It is a nobrainer to me. They hope for a depression then they can buy our assets cheap.

 

Roger Reed

trudeau has socks mixed up with stocks,someone please explain the difference

David Amos

@Alan Sadler "If the article is about one country's stock market rebounding and another country's stock market continuing a drop, it is about the fiscal policies of those nations. This article is about Justin."

Kinda sorta maybe

However methinks it is definitely about money and a at least one wiseguy is always saying "Everything is political and its always about the money" N'esy Pas?

 

Darryl McBride

I get a kick out of the Canadians that are more concerned with what Trump is doing while ignoring our own country that investment is fleeing from.

David Amos

@Darryl McBride ME TOO

David Amos

@Jane Beagle All the alarms and bells and whistles went off for me on September 11th, 2001 FYI shortly thereafter Yankees bought control of most of out oil assets in Alberta.

  

Darryl McBride

@David Amos No need to worry, the yankees sold most of there oil sands assets because of uncertainty and the carbon tax.

David Amos

@Darryl McBride Trust that I know more than the Yankee Feds think I do. FYI after the Chinese bought Nexen Paul Martin's former Deputy Minister of Finance and Harper's Clerk of the Privy Council quit his fancy job as Canada' top bureaucrat and joined the BMO and became an Independent Director of the Chinese oil company. Care to guess who he is?

  

Ben Smith

Oh boy is Canada ever closed for business now. This left wing Liberal government has completely destroyed our economy. 2018 will be very ugly.

Life is always always always harder under the Liberals.

David Amos

@Ben Smith Methinks the tax and spend liberals can entertain us with a quite a circus at our expense N'esy Pas?


 
Peter Noway

God Bless Donald Trump, The Leader of North America.

bretthsmith

@Peter Noway nice leg hump. on Trump

David Amos

@bretthsmith Methinks it was just a joke N'esy Pas?

 

wilson abernathy

How long before Trump and the minions try to blame Obama ?

David Amos

@wilson abernathy
"How long before Trump and the minions try to blame Obama ?"

Methinks he should and a lot of folks agree with me N'esy Pas?

Darryl McBride

@Richard Sharp

Head lines from today,

"TSX didn't benefit from the Trump bump and overseas investors don't see much opportunity here"

"Canadian economy lost 88,000 jobs in January"

Darren MacDonald

@wilson abernathy Dow up, TSX down.

David Amos

@Darren MacDonald Ya just gotta love the circus eh?

David Amos

@Darryl McBride Did Richard Sharp got "Poof"???

Darryl McBride

@David Amos Richard has the power to remove his own posts.

David Amos

@Darryl McBride I strongly doubt that

Richard Sharp

@Friday Jones

Reposting as my honest but censored reply to yours:

“You post total nonsense. Canadian markets are up substantially since Trudeau and just why is he down in the US right now if not to drum up business?”

David Amos

@Richard Sharp Good for you sir

 

Cole Haan

The stock market is not a medium that you want to invest anymore. It's becoming casino gambling for your retirement funds.

David Amos

@Cole Haan" It's becoming casino gambling for your retirement fund"

Methinks it always was Furthmore just like a casino the game is rigged by the banksters who make huge profits whether the markets go up or down N'esy Pas?

David Amos

@Alexander Horvath "I strongly doubt that it is a political thing, but something much more serious. "

Clearly you are far more clued in than most folks over twice your age

 

Jerry Maguire

The budget and the stock market will balance themselves, for the good of peoplekind

David Amos

@Jerry Maguire "The budget and the stock market will balance themselves, for the good of peoplekind"

So says Prime Minister Trudeau "The Younger" However Methinks that not all of us agree with such fake left political drivel N'esy Pas?

David Amos

@Juan Love "Trudeau was improvising a joke when he suggested Peoplekind"

Nope the space cadet meant what he said.

  

Buford Wilson

Canada needs a strong PM again.

David Amos

@Buford Wilson R.B. Bennett has been dead and gone a very long time and I see no soul remotely like him on the horizon

 

Bob Gillies

The US stock market is artificially inflated and due for correction. No big deal.
Sadly the Canadian market is rather stagnant due to liberal policies which are creating uncertainty.
Canada has potential wealth but liberal policies are scaring away investors who would help Canada exploit that wealth.
No wonder liberals have to borrow money to bring children out of poverty instead of creating an environment to generate wealth and do the same thing.

Liberal doctrine is to use your credit card to pay your mortgage. and then boast about how well off you are!

David Amos

@Bob Gillies "Liberal doctrine is to use your credit card to pay your mortgage. and then boast about how well off you are!"

Harper did the same when he bailed out our Banksters after the markets tumbled in 2008

Bob Gillies

@David Amos
Harper NEVER "bailed" out the banksters. He traded high risk mortgages for credit ceilings.
The government MADE money on that deal.

David Amos

@Bob Gillies Perhaps CBC and their friends can explain the obvious to you

Banks got $114B from governments during recession
Support for banks 'more substantial than Canadians were led to believe': CCPA report
CBC News · Posted: Apr 30, 2012 9:55 AM ET

http://www.cbc.ca/news/business/banks-got-114b-from-governments-during-recession-1.1145997

 

Eric Earls

The market jumped 30% in a year, of course a correction was coming. To say Trump grew the stock market or made it crash is ridiculous on both counts. The economic indicators jobs, GDP, housing starts etc... is how you evaluate an economy not the ebbs and flows in the Dow.

David Amos

@Eric Earls "To say Trump grew the stock market or made it crash is ridiculous on both counts."

I agree Methinks it is a nobrainer to understand that greedy speculators have nobody to blame but themselves N'esy Pas?

 
Jack Richards

"Caroline Mulroney defends shifting position on carbon tax, suggests legal action against Ottawa could stop it"
We need more leaders to fight against the carbon tax.

David Amos

@Jack Richards "Caroline Mulroney defends shifting position on carbon tax, suggests legal action against Ottawa could stop it"

Methinks that your comment has nothing to do with this article but I must say in response like father like daughter. Tis a small wonder they are both political lawyers N'esy Pas?

  

 

Jack Richards

"Caroline Mulroney defends shifting position on carbon tax, suggests legal action against Ottawa could stop it"
We need more leaders to fight against the carbon tax. Good to see this and she would make a better Premier then Wynne. Provinces need to step up the fight against carbon tax and can n trade.

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David Amos

@Peter Hill I agree. What was the nickname folks gave her daddy with the brown bags long ago? As I said earlier to Mr Richards like father like daughter just another political lawyer who will say whatever is needed to gain the reigns of power.

Content disabled.

David Amos

@David Amos Oh My it appears that Lying Brian has a fan in CBC N'esy Pas?

David Amos

@Jack Richards WOW Methinks CBC sure does not like my opinion on the lawyer Caroline Mulroney shifting her position on carbon tax and suggesting legal action N'esy Pas?

    

Rob Hali

JT's gender based politics do not reflect well on the bottom line... merit based hiring should be the only way of hiring in Canada, including all government positions. Male, female, English, French, black, white or purple should not matter.

David Amos

@Rob Hali "merit based hiring should be the only way of hiring in Canada, including all government positions. Male, female, English, French, black, white or purple should not matter."

Methinks your words are well worth repeating Sir

   

Andrew Farmer

Been a good week for dividend increases. I can live with that.

David Amos

@Bill Mavin "Yes I am, but I do not get all smug if something is good for me - I know trouble is always just around the corner"

You are wise

 

Chuck Bremner The usual slanted headline and analysis with cherry-picked data.
True, the Dow lost 5.2% this week. It is now down to the level of
Dec. 7, 2017, meaning it gained 5.2% in the 8 weeks prior to this week
The gains made in those 8 weeks have now been lost but the Dow is
still up 19.3% this year, since Feb. 10, 2017.
Rather different matter with the TSX as it is now down 720 points (about 4.5%)
over the same year, since Feb. 10, 2017. The TSX is lower now than the peak
in 2015, which was in April, when some thought that Trudeau could win the election.
there have been no gains on the TSX for almost 3 years

Content Disabled
David Amos

@Chuck Bremner "The TSX is lower now than the peak in 2015, which was in April, when some thought that Trudeau could win the election.there have been no gains on the TSX for almost 3 years."

Methinks when I was running in the election f the 42nd Parlaiment the polls said most of the time the NDP were leading not the liberals

David Amos

@Chuck Bremner "The TSX has gained 10.9% since Trudeau assumed office. "

How does that jive with your first statement?

David Amos

@David Amos What was wrong with my first replY??

David Amos

@David Amos It was as follows

"@Chuck Bremner "The TSX is lower now than the peak in 2015, which was in April, when some thought that Trudeau could win the election.there have been no gains on the TSX for almost 3 years."

Methinks when I was running in the election of the 42nd Parliament the polls said most of the time the NDP were leading not the liberals"

 

Chuck Bremner

Fake news headline. Should be Canadians stocks fall further.

Peter Noway

@Stan Cox

Just because you don't understand doesn't mean it's pointless. It just means you don't understand.

David Amos

@Peter Noway What is it I don't understand by reading this article By the end of the day the TSX stayed down while the Dow recovered. Correct?

  

 

Roger Reed

Whom ever wins the PC leadership in Ontario becomes the next Premier,either one of the three currently in the running will be trudeau's worst nightmare,2018 is going to be a bad year for trudeau and 2019 will be even worst

David Amos

@Roger Reed "Trudeau will be so low in the polls by then,he may resign"

ROTFLMAO

Raul Wallenberg

Hi 2015, it's 2018 calling.
Just wondering if we can have our old PM back - it seems there was a mistake made.

David Amos

@Raul Wallenberg "Just wondering if we can have our old PM back - it seems there was a mistake made"

Methinks that the results of the 2015 election was evidence that not .all Maritimers appreciated your hero calling us defeatist. Harper's party lost every seat to Trudeau the Younger's followers N'esy Pas?

 Rob Shea

More TDS from the Left. Trump Derangement Syndrome. It never ends

David Amos

@Rob Shea "@Michael Murphy you go girl"

LOL

  

 

Greg Anderson

donnie stays quiet on bad stock days.

David Amos

@Patrick Anglin "what's weird about that is thinking it will make a difference"

I agree. People don't listen to anyone once they the panic button is pushed.

 

Gorden Feist

Trump took over when things were going fairly smoothly, thanks to the last administration. God help us all if he is at the helm during a major crisis.

John Melnick

@Gorden Feist

Same could be said by substituting "Trudeau" for "Trump" in your post.

David Amos

@John Melnick I wholeheartedly disagree with both of you.

The stock markets have been climbing for years for no good reason whatsoever just mindless speculation ( all of it done by not so smart computers). Everybody knows what is speculated up comes down in a hurry and real people lose their jobs and jump out windows.

 

Al Park

When it's good Trump takes credit....when it's bad he says nothing. When you have an orange man with tiny hands and a huge ego wanting to have a parade for himself, can you really question why there's so much uncertainty?

 

David Amos

@Al Park Methinks everybody in the know cares very much what the orange man with tiny hands and a huge ego says. If they don't they are fools. What he does with his smart phone and his wee little thumbs has had everyone upset for nearly 3 years N'esy Pas?

 

Andrew Farmer

C'mon folks. Wild swings of multiple hundreds of points in minutes has NOTHING to do with the economy or economics. This is all about program trading and day traders. Most true investors aren't playing in this game.

David Amos

@Andrew Farmer "Wild swings of multiple hundreds of points in minutes has NOTHING to do with the economy or economics"

I beg to differ bigtime. Do your recall the sign Hillary's hubby Billy Boy had on his desk in the oval office many moons ago?

Andrew Farmer

@David Amos

No. And I doubt a sign on a president's desk from the 90's has any bearing on wild stock market fluctuations in February of 2018.

David Amos

@Andrew Farmer Methinks that you also do not recall how and why the markets took a nosedive as soon as George Bush "The Younger" took his seat in the oval office? Some folks say history has a habit of repeating itself and other folks say that some folks never learn from it Hence perhaps that is the reason why N'esy Pas?

Andrew Farmer

@David Amos

"why the markets took a nosedive as soon as George Bush "The Younger" took his seat in the oval office"

Andrew Farmer

sorry hit post before I typed...

Which nose dive was that?

David Amos

@Andrew Farmer Check history

David Amos

@Andrew Farmer Some people called it the the dot-com crash others called it the Y2K crash. However the geek in me knows it was just banksters playing games with other people's money as they always do.

  

Brian Dufoe

the lower the better,
a good purge is needed to rid our society of the elitists who become wealthy on the backs of the average citizen,with no taxes paid,priviliged schools,etc.,
just stay off the sidewalks under tall buildings.

Michael Murphy

@Felix Culpa Its funny you believe anyone under 40 will ever see a CPP cheque

David Amos

@Michael Murphy What is it you find so funny?

 
thomas stewart

It will be interesting though to see the reaction from the White House if the reversal is sustained for a serious period of time.

Mr. Trump (and his supporters here for that matter) were so quick to attribute the rising markets to Mr. Trump's acumen. Will they acknowledge any responsibility on a downward slope should it continue?

Gord McPherson

@thomas stewart

Team Trump, whomever that would be today, has already started on that narrative with statements such as:

“Healthy correction” and “return to fundamentals” and “underlying strength”.

When the Fed responds, the story will change once again and given Trump’s mercurial sense of entitlement it will likely go along the lines of:

“Activist Fed” ... “Swamp something” .... “Obama did it” ... “It’s rigged folks, that I can tell you!”

David Amos

@Gord McPherson “It’s rigged folks, that I can tell you!”

Thats my choice

 

Christian Jane

How strange - tRump, who's always bragging about how great the stock market is since he became Prez is strangely silent this time.....too busy with golf, maybe?

Peter Noway

@Christian Jane

Trump is destroying the TSX and laid off 90,000 Canadians in January.

Meanwhile, Potato head is in Sunny California enjoying the pool.

David Amos

@Peter Noway Sunny Ways make for Sunny Days N'esy Pas?

Richard Sharp

@Christian Jane

Funny how a good number of the posters who attack Trudeau for being on vacation all the time (when he clear.y works his tail off for us) are the same ones who say nothing about Trump, who plays golf incessantly and spends his evenings in bed eating Big Macs.

David Amos

@Richard Sharp Some folks claim you have the power to make your comments go "Poof" Methinks that is nonsense N'esy Pas?

 

Shane MacDonald

Where are all the Trumpetters who were proclaiming his greatness when stocks were up? It seems odd that he wouldn't be credited with the current developments as well.

Michael Murphy

@Shane MacDonald

Insults is all they ever have

Unable to debate as usually those elitists live in reality, and know things

How can they argue with that?

David Amos

@Michael Murphy I try to debate you all the time within this public forum but you always ignore me. Why is that?

mo bennett

we're waitin' for 45 to 'splain this to the audience.

Gord McPherson

@mo bennett

Additional debt of $1.5 trillion ... per year ... already built in.

Add the promised Infrastructure Bill and you'll see Freedom Caucus members ramp up the talk of U.S. bankruptcy and default.

Of course, all this talk could merely be a forewarning, another excuse to flush what remains of public wealth towards the .01%.

Or, perhaps the Freedom Caucus is the last remaining vestiges of deficit-adverse Republicanism in the U.S.?

David Amos

@Gord McPherson Methinks the awful truth is all the wiseguys have not a clue as to what is gonna happen next in this wicked circus. However the all knowing Fake News minions sure love it when ever a certain clown adds his two bits worth byway of two wee little thumbs and pecking out not so sly witticisms on a fancy gold inlaid smart phone N'esy Pas?

 

Terrza LaBonte

"Trump bragged about the gains at every opportunity on Twitter and even in his State of the Union address.“The stock market has smashed one record after another, gaining $8 trillion in value,” Trump said in his address to Congress.

Not to worry folks Mr Bankruptcy has declared the stock market is making a mistake. And we all know that anybody with a Weetabix on their head is never wrong. AHAHAHAHAHAHA.
By the way almost every Wall Street analyst said the wild growth in market values was 'tenuous' at best. This was clearly evidenced by the absurd 34 P/E ratio that the market hit. Anybody who had at least a minuscule bit of finance training would know that. Unless they had a Weetabix on their head of course.

Unmitigated folly by a very confused guy.

Frank Dale

@Terrza LaBonte ....then sky is falling, the sky is falling...Armageddon....meh, and Monday the market will go back up, lots of great buys, just like 2007, but not even remotely close.

David Amos

@Frank Dale "Monday the market will go back up, lots of great buys, just like 2007, but not even remotely close."

True Monday will tell quite a a tale but methinks not everybody is siding with your bets on the demise of this slide N'esy Pas?

 

Ben Smith

The job losses are only starting. This will be a very very painful year for Canada. Our all image no content government is 100% to blame for it.

David Amos

@Ben Smith "This will be a very very painful year for Canada. Our all image no content government is 100% to blame for it."

I agree

  

Kevin Delaney

Donnie Downturn Time. Donnie now tired of winning. Get use to it.

David Amos

@Kevin Delaney Methinks thou doth jest just enough N'esy Pas?

James Smith

@Peter Noway "Donnie didn't lose 88,000 jobs"

It's tough to get worked up about a month of job losses when you realize that, in December, Canada hit record low unemployment levels last seen in 1976!

The job market, like the stock market, swings. Sometimes you get a bad month even while the trend is headed in the right direction.

David Amos

@James Smith Now I am confused

  
Al Park

"I want a parade like the one they had in France"

Cons are a global embarrassment!!!

David Amos

@Al Park "Cons are a global embarrassment!!!"

So are their Fake Left buddies

 
Ken MacDonald

President Scapegoat is about to find out why he was appointed.

Michael Parks

@Robert Brannen Yes because their system was design to protect the entire country from pockets of high population deciding the winner of every election.
. This time the added bonus was that the SJWs in California and New York state were snubbed, thus the incessant bawling.

David Amos

@Michael Parks "Yes because their system was design to protect the entire country from pockets of high population deciding the winner of every election"

True

 

Ben Smith

It's always cute to see left wingers come into the business section and start commenting. Painful to read though.

Thomas Magnum

@Ben Smith we have to wade through your sock comments.....

David Amos

@Thomas Magnum Methinks we all have the right to comment in a website paid for by our taxes N'esy Pas?

 

Lotte Riesen

People need to calm down. Markets self-correct, and what we are seeing here is nothing but a healthy reversion to the mean.

David Amos

@Lotte Riesen "People need to calm down. Markets self-correct,"

If you were 65 years old like I am would you be betting your pension funds on it like the dudes who managing mine are?

 

Hall Broadhurst

Let’s see, NAFTA is in trouble, free trade between Provinces blocked at every turn, pipelines in limbo, prices of Canadian oil sent to the US much lower than the $60 quoted here (because we Canadians, poor souls, can’t get the oil to the Americans so we have to discount it). Since most people see Canada as merely the supplier of resources, Mexico as supplier of labour, and the US as the reaper of the profits, any wonder that the markets are jittery?

Since Canada imports 80% of refined oil products from hurricane prone areas like Louisiana, the Prime Minister could, if he really wanted to make a positive impact, take the dollars allocated to the pipeline, build a refinery (or better, refineries) near to OUR supplies like Fort MacMurray and supply refined products at lower cost with stable prices, boosting our own employment with good (tax paying) jobs.

But that won’t happen - too many special (read corporate) interest groups that don’t want the Canadian economy to diversify. What a shame no one stands up for this country, but instead sells out to others.

george thompson

@Hall Broadhurst Yeah, and 90% or more of the rigs are owned/operated by American and Chinese, employing their own people, IN OUR COUNTRY!

Gord McPherson

@george thompson

Where did you dig up that little nugget of fakery?

David Amos

@Gord McPherson Its true

  

Darryl McBride

I feel so much better knowing Justin is running recession style deficits with no recession. (sarc.) Lets hope there isn't an actual recession or Canada will be in for a world of hurt.

Lily O'Loughlin

@Dave Anderson
In Canada we say government, not govmint.

David Amos

@Lily O'Loughlin I call it the system and it the same one that exists worldwide

 

Hugh Chavez

The DOW continues to plummet. Looks good on Trump to see it crashing.
And looks fantastic to see oil down nearly 3.5% as I post this. 7 cents from going under $59
Burn baby burn!

David Amos

@Hugh Chavez You do understand that we are all losers correct?

 

Andrea San

Not likely to be reported here since it is all about Russian interference narrative...
"A campaign group fighting to keep the UK in the EU has received £400,000 from billionaire investor George Soros.
Mr Soros made his donation to Best for Britain through one of his foundations."
Source BBC
ICIJgate

Michael Murphy

@Christian Jane "Where in the article did you see anything about Russian interference?"

Was in the satellite mind control rays that you clearly haven't protected yourself from

David Amos

@Michael Murphy Soros is likely laughing all the way to the bank again. However please explain to me real slow why the Russians and the Chinese have been buying gold by the ton for years ever since your hero Obama sent the price of oil down the drain at Canada's expense and the Yankee's gain byway of the NAFTA?

Oh My My  3 big bad days Methinks the slide has begun N'esy Pas?

http://www.cbc.ca/news/business/stocks-markets-dollar-1.4526399

Dow plunges 1,000 points as stock market swoons again

S&P/TSX composite index drops by 265.03 points, or 1.7 per cent

The Associated Press · Posted: Feb 08, 2018 12:36 PM ET | 

Traders work on the floor of the New York Stock Exchange (NYSE) on Thursday. The markets remained unsettled with big drops that put both the S&P 500 and the Dow Jones industrial average into correction territory. (Brendan McDermid/Reuters)

The Dow Jones industrial average plunged more than 1,000 points as a weeklong market swoon continued.

The Dow is 10 per cent below the record high it set just two weeks ago, putting it in what is known on Wall Street as a "correction." The Standard & Poor's 500, the benchmark for many index funds, is also 10 per cent below the record high it set recently.

Worries about inflation set the market rout in motion last Friday, and many market watchers have been predicting a pullback after the market's relentless march higher over the past year

The market fell steadily as Thursday wore on and is on track for its fifth loss in the last six days.

Many of the companies that led the market's gains over the last year have struggled badly in the last week. Those including technology companies, banks, and retailers and travel companies and homebuilders.

Stock trading turned volatile over the last several days, breaking an unusually long period of calm. European markets were also lower after the Bank of England said it could raise interest rates in the coming months.

After huge gains in the first weeks of this year, stocks tumbled Friday after the Labour Department said workers' wages grew at a fast rate in January. That's good for the economy, but investors worried it will hurt corporate profits and that rising wages are a sign of faster inflation. It could prompt the Federal Reserve to raise interest rates at a faster pace, which would act as a brake on the economy.

"Far and away the most important things are the fear that the Fed is going to make a mistake, and higher wages are going to cut into margins," said Scott Wren, senior global equity strategist for Wells Fargo Investment Institute. The worry, he said, is that the Fed will raise interest rates too quickly.
The S&P 500 shed 100.58 points, or 3.75 per cent, to close at 2,581.08.

The Dow Jones industrial average lost 1,032 points, or four per cent, to finish at 23,860.46 .

The Nasdaq composite fell 274.83 points, or 3.9 per cent, to 6,777.16.

Canadian stocks lower

On Bay Street, the S&P/TSX composite index closed at 15,065.55, dropping by 265.03 points or 1.73 per cent.

Eleven of the 12 subgroups closed lower, led by energy, losing 4.79 points, or 2.77 per cent, to 167.95 points. Gold was the lone advancer, adding 0.15 of a point, or 0.08 per cent, to 181.78 points.

On foreign exchange markets, the Canadian dollar was down by 0.16 of a cent at 79.42 cents US.

The price for light sweet crude for March settled at $61.15 US a barrel, down 64 cents from Wednesday's close.

Tom Martin, senior portfolio manager with Globalt Investments, said he didn't see anything specific moving the market lower today, just a continuation of a shift in investor mindset from fear of missing out in a rising market to worry of clocking big losses in a market that's turned.
"This is going to take longer to work out than people expect," he said. "In January we talked about fear of missing out. What we have now is what I call fear of getting caught."

http://www.cbc.ca/news/business/stock-markets-1.4521715

Global stock markets tumble after Wall Street battering

Market pros have been predicting a pullback for some time

The Associated Press · Posted: Feb 06, 2018 12:28 AM ET | Last Updated: an hour ago

1125 Comments                                                                                                Commenting is now closed for this story.

   

Content disabled. 
Robert Miller

Predicted this sort of event.

President Obama's regulation of Wall Street and the banksters was reponsible for the turnaround after the tsunami in 2008.

Your "stable genius" seems more like a maroon.

Content disabled.
David Amos

@Robert Miller It is all twisted history written by the winners. As the economy takes another nosedive perhaps truth-seekers should check a loser's work sometime.
Google

Harper and Bankers

and then

David Amos Bank Fraud

then

David Ams Madoff

I obviously was a player years before the nosedive in 2008

Content disabled. 
David Amos

@David Amos Why doesn't CBC act ethically for a change?

 
David Amos

"The selling, which gathered pace Monday when the Dow Jones industrial average posted its biggest percentage decline since August 2011, has been triggered by fears the U.S. Federal Reserve will raise interest rates faster than many in the markets have been predicting in light of a pick-up in wage growth."

.Everybody in the know knows the Federal Reserve officials aka Banksters are the ones who orchestrate this wicked game with other people's money and "Futures" in more ways than one.

http://www.cbc.ca/news/business/markets-houses-real-estate-1.4520046

What faltering stocks and bonds could mean for house prices: Don Pittis

A strong economy is good for housing demand, but new uncertainty could push prices down

Don Pittis · CBC News · Posted: Feb 06, 2018 4:00 AM ET

578 Comments                                                                                                Commenting is now closed for this story.

Dean Robertson

A home is a place to live. If you buy two homes it's an investment.

Governments are not responsible for investments. Nor should they care about how the market goes up or down. If your home that you own goes down in price, then basically all the other homes you wish to buy will go down too.

Don't believe the hype from investors. It's not anyone's problem but theirs.

Karen O'malley

@Dean Robertson Exactly. My home went up $200K in the last 3 years, but it makes no difference to me, since I am living in it. I don't see the money until I sell, and then I have to buy something else, so if prices are still inflated then, I don't really win out. In fact, it's better if prices drop so that all Canadians can afford homes.

David Amos

@Karen O'malley I agree

David Amos

@Dean Robertson YUP

 

mo bennett

your house is only worth as much as someone is willing to pay for it.

David Amos

@mo bennett Yo Mo that was profound

 

Michael G. L. Geraldson

Toronto and Vancouver don't paint a fair picture of what's going on elsewhere in Canada. You could probably sell an outhouse there for a million dollars, and somebody would buy it for the land and build a mansion. There are great places to live and work across the country. In my community prices are inching up after stagnating for awhile and homes are selling at a fraction of prices in the GTA. Let's look at the whole picture.

David Amos

@Michael G. L. Geraldson FYI Trust that I am buying my next abode in New Brunswick right now for far less than an outhouse in BC

 

Jeremy Kemp

Stocks and houses should be treated the same, hold them long term and money will be made.

David Amos

@Jeremy Kemp True

 

Jack Richards

Every full time working person in Canada should be able to afford to own the roof they live under. Something is very wrong in this country when full time working people are unable to own a home. So wrong.

David Amos

@Jack Richards "Every full time working person in Canada should be able to afford to own the roof they live under"

Methinks that was the Canadian government's reasoning after WW II That is why we the people guaranteed the Bankster's mortgages byway of the Crown Corporation Canada Mortgage and Housing Corporation N'esy Pas?

 

Eric V. Zepplin

who are they kidding? ,housing prices are still out of reach for the average Canadian , getting in debt beyond your means isn't smart idea

Ryan Tasker

@Peter Hill
The majority of OLDER Canadians own their own home.
The majority of YOUNGER Canadians were screwed over by their parents and grandparents and now can not afford a home.

David Amos

@Ryan Tasker Sad but not exactly true. Their parents and grandparents are being done in on a daily basis too. I know that for certain because I am one of them.

 

Peter Olsen

Like Trump's presidency there is a lot of false value in the real estate market that people are now admitting to.

Lee Brown

@Peter Olsen

Hillary had way more false value

David Amos

@Lee Brown True

 

Andreas Burnett

"He who panics first, panics best."

David Amos

@Andreas Burnett "Many a true word is said in jest"

 

Andrew McLaren

Not quite so volatile as Btwitcoin though, down from 20K to 6K in six weeks. Jumping the shark generally means a follow up according to the laws of gravity.

David Amos

@Andrew McLaren I am a bigime believer in the irrefutable the laws of gravity

 

Jean Valjean

I held on to everything in 2009.
I'm doing the same now.
And thankfully, I don't lie awake at night worrying about interest rates rising.
In fact, for many, it would in fact be a good thing.

David Amos

@Jean Valjean I am not certain that just because it worked once that it should work twice. It may but perhaps you may be too old to reap the benefit of your patience after the dust settles this time around.

Methinks the dreaded 666 number more than doubled down today and the Market ain't closed yet EH? 

http://www.cbc.ca/news/business/stock-markets-equities-dow-jones-1.4519930

Dow Jones plunges as North American losses deepen

Benchmark Dow Jones index fell below 25,000 for the 1st time since Jan. 4

By Rajeshni Naidu-Ghelani, CBC News Posted: Feb 05, 2018 9:44 AM ET Last Updated: Feb 05, 2018 3:29 PM ET

  
2557 Comments
Commenting is now closed for this story.


  
carl tyrell {dit antaya)

We tend to think that markets are fluid due to economics , the reality is a comparative to a school of minnows being the prey of pike hiding in the weeds and striking when hungry

David Amos

@carl tyrell {dit antaya) Well put sir

  
Bo Xi Lai

Chinese fund managers are realizing profits in preparation for next week's Chinese New Year Holiday. Watch out for the week after next. When the stock market resumes first day after the Chinese New Year, it will be a Red (Bull) market. It has been a good year for the Chinese stock market investors. Thank you all for your generous support. Happy New Year!

David Amos

@Bo Xi Lai I concur

 

Ed Munn (FrogLips1)

An anticipated correction. Nothing will stop the US economy.

David Amos

@Ed Munn (FrogLips1) Dream on

David Amos

@Ed Munn (FrogLips1) "The lone bright spot was Mainland China's Shanghai Composite, which reversed losses to close up 0.7 per cent."

Ed Munn (FrogLips1)

A well deserved long awaited dip buying opportunity evolving.
Maybe pick up some Gold in case it gets prolonged.

David Amos

@Ed Munn (FrogLips1) FYI some folks are reading my blog that you want them to ignore N'esy Pas?

Mark Smith

@Ed Munn (FrogLips1)

It is a buying opportunity for sure. The market hates instability, and there's plenty of that in the USA.

David Amos
@Ed Munn (FrogLips1) Methinks the dreaded 666 number more than doubled down today and the Market ain't closed yet EH?

There is a buying opportunity evolving all right If I were a rich man I would wait awhile yet after I sold had everything weeks ago. Furthermore everybody and his dog knows why the Russians and the Chinese have been buying gold by the ton for years. Remember the old rule? "He with the gold makes the rules"

Methinks a lot of folks agree with me in that we are looking at the end f the Yankee petrodollar and the rise of the dragons out of the east. N'esy Pas?

Ed Munn (FrogLips1)

New applications for unemployment insurance benefits plunged by 41,000 to 220,000 in the second week of 2018, the Labor Department reported Thursday, the lowest level in nearly 45 years.
The report easily beat forecasters expectations for new jobless claims to drift down to around 250,000.
Low jobless claims are a good sign because they suggest that layoffs are relatively scarce. Federal Reserve officials and investors watch the numbers because they come out weekly, providing an early warning sign of any trouble.

The Trump administration and congressional Republicans have stated that they want to maintain a high level of job creation not only decrease unemployment, but also boost the labor force participation rate by encouraging people who have retired or quit the workforce to seek out jobs.

Content disabled.
David Amos

@Ed Munn (FrogLips1) "Federal Reserve officials and investors watch the numbers because they come out weekly, providing an early warning sign of any trouble"

Too Too Funny Methinks thou doth jest too much N'esy Pas? .Everybody in the know knows the Federal Reserve officials aka Banksters are the ones who orchestrate this wicked game with other people's money and "Futures" in more ways than one.

 

Content disabled. 

David Amos

@Ed Munn (FrogLips1) Go Figure why CBC would block my reply

http://www.cbc.ca/news/business/stock-markets-1.4521715

David Amos

@Ed Munn (FrogLips1) Why don't you explain to the folks why i sued 3 US Treasury Agent amongst a host of lawyers in 2002 then ran for public office fives times after I was involved in US Senate Banking Committee Hearing?

Anybody can Google the following correct?

David Amos Bank Fraud

 
Sean Flynn

Trump claims credit for all the stock market highs, will he claim responsibility for this as well?

Harold Fitzgerald

@david mccaig

Those that bought in the great crash of 29 made fortunes. I expect you spent the day buying into this bump? It's a sale!

David Amos

@Harold Fitzgerald Everybody in the know knows the Federal Reserve officials aka Banksters are the ones who orchestrate this wicked game with with other people's money and "Futures" in more ways than one.

David Amos

@Sean Flynn Perhaps folks should go to Round 3 within CBC?

http://www.cbc.ca/news/business/stock-markets-1.4521715

  

Mike Crow

When will Trump admit that he actually has nothing to do with the stock market?

David Amos

@Mike Crow "When will Trump admit that he actually has nothing to do with the stock market?"

Oh Yea? Methinks that a simple slip Trump's tongue oa live microphone or his thumbs on his smart phone can make the markets tumble in a heartbeat N'esy Pas?

 

George Penner

Does the Donald take credit for the stock market slump?

Sue Lanchester

@George Penner This strategy is not in the Art of War book.

David Amos

@Sue Lanchester Yes it is

David Amos

@Sue Lanchester Who wrote that book and who invented paper money?

"The lone bright spot was Mainland China's Shanghai Composite, which reversed losses to close up 0.7 per cent."

  

Mike Bookman

Betcha Trump won't take credit for the slump.That'll be the democrats fault under Obama or CNN.

David Amos

@Mike Bookman Methinks many a true word is said in jest. Banksters and their pals Obama & CNN et al can be blamed for the next economic downturn not just their buddy Mr Trump. N'esy Pas?

 

Evan Mulligan

It's the Donald Deficit. No matter how hard he tries, trump can't hide the fact that he's added $1.7 trillion to the US deficit and this will eventually come home to roost.

The Obama economy is over. Now the trump economy starts to take hold, and we can all see how well that's going.

robert williams

@Evan Mulligan
1.7 Trillion without compound interest added on each day.

David Amos

@robert williams How much did the Yankee national debt increase under the Obama regime?

 

Damien Johnston

So is trump going to brag about the loses?

Arlond Lynds

@Damien Johnston
If his lips move he is bragging or blaming.

David Amos

@Arlond Lynds True

 

Ed Logan

Since Trump took office hate crimes have increased in the US and Canada by three fold.
Trump promotes racism, fear and hatred and it is spreading into Canada like a contagious disease.

Karin Bougie

@Ed Logan

Have you been to the states in the last year? I have. I see no hate there. There's no contagious disease of racism.

You are letting the media turn you into a hateful, scared person. Real human beings go on living and are happy and industrious.

Chill out and put that nasty koolaid away.

David Amos

@Karin Bougie I spent many years south of the 49th as a married man with two children to watch out for. It is fairly clear to me that you look at the USA through rose coloured glasses from a gated community no doubt..

 

Wayne Chapman

But Trump was just on TV saying how he is to be celebrated for how he has turned the stock markets around since he became the most glorious president America has ever seen. This must be FAKE NEWS.

David Amos

@Wayne Chapman Don't ya just love the circus?

  

David Sampson

Markets tend to overreact to both good news and bad news.

David Amos

@David Sampson "Markets tend to overreact to both good news and bad news"

YUP and when the news is about the Markets watch out.

http://www.cbc.ca/news/business/markets-stocks-investors-1.4516409

Markets hit biggest weekly loss in 2 years, Dow falls 666 points

Stronger jobs data from U.S. economy raise likelihood of interest rate hikes

CBC News Posted: Feb 02, 2018 12:06 PM ET 


915 Comments 


  
Brent Grywinski

So is Trump going to accept the worst week for the Dow Jones in two years just like he took total credit for it reaching record heights. Fair is fair, isn't it? Of course, nothing wrong is ever his fault, right?

David Amos

@Brent Grywinski Why not ask me after you Google two names?

David Amos Trump

Brent Christianson

@Brent Grywinski

And it dropped 666 points! Coincidence? I think not!

David Amos

@Brent Christianson I believe it dropped by the same number in October 2008 but the percentage of loss was much higher then.

Interesting number though BTW It is the same number on the building that Trump's son in law bought from his buddy George Soros Go Figure

Content disabled.

David Amos 

@Brent Christianson Need I say the link to Trump and Soros is wickedly interesting to me

FYI Soros backed this deal for Trump's son in law

https://www.nytimes.com/2017/04/03/nyregion/kushner-companies-666-fifth-avenue.html

and I dealt with Soros' lawyers at this address way back in 2003

The Center for Constitutional Rights 666 Broadway 7th Floor New York, NY

Content disabled.

David Amos

@David Amos
FYI Soros was behind this deal

https://www.nytimes.com/2017/04/03/nyregion/kushner-companies-666-fifth-avenue.html

David Amos

@Brent Christianson Trust that you would enjoy the replies of mine that CBC are blocking

 

David Amos

@Brian Wilkins Want some facts about Feds and Banksters that the RCMP, the USDOJ, The Russians, Chretien, Martin, Harper, the Clintons, Bush, Obama and now both Trudeau "The Younger" Trump know?

Just Google words such as

David Amos Bank Fraud

or David Amos Madoff

or Harper and Bankers

or Soros 666 Broadway

or Soros 666 Fifth Avenue

Jacques LaPalmier

@Jacques LaPalmier

".... sharp losses led by the Dow Jones index losing 666 points"

Coincidence ?
I think not (and that coming from a 'non-believer').

David Amos

@Jacques LaPalmier I you seek true enlightenment scroll up through this thread and check the comment you just buried

 
Angela Kung

Trump supporters kept attributing growth in the stock market to Trump. Wonder what they'll be saying to this or if they'll find a way to blame Hillary.

David Amos

@Angela Kung Methinks Hillary and Trump et al are just mere pawns in the wicked game played by Banksters N'esy Pas?

  

Kato Anderson

Trump has opened up off-shore drilling all along American coastlines . . . except along Florida. Why was Florida exempted? Mar-a-Lago. Trump did not want to see oil rigs from his "Winter White House".

David Amos

@Kato Anderson "Trump has opened up off-shore drilling all along American coastlines"

Methinks Obama did that years ago in a effort to bankrupt the Russians N'esy Pas?

Randolph Neville

Trump, "...This is all Obama's fault...Rrr, I mean Clinton's fault...Doh, it's Mueller's fault...I mean anyone but ME..."

David Amos

@Randolph Neville "Trump, "...This is all Obama's fault...Rrr, I mean Clinton's fault...Doh, it's Mueller's fault...I mean anyone but ME..."

Methinks its is everybody you mentioned above plus legions more who are pawns of the Banksters who put them in the position to assist in the their wicked game with other people's money N'esy Pas?

 

Don Brown

Markets hate unstable conditions, Trump is unstable . But he will blame Obama and take credit when it goes back up. Rinse Repeat

David Amos

@Don Brown Methinks Trump is powerless to stop a wicked game in play long before he was a twinkle in his Father's eye He is just a duly elected puppet of Banksters now N'esy Pas?

 Jack Birmingham

Just 3 days after Ol' Big Mouth took credit for the success of the Stock Market, and on the one year anniversary of his first day on the job... Don't tell me there's no such thing as Karma.

David Amos

@Jack Birmingham It ain't over til the Fat Lady Sings. Methinks we should wait till the foreign markets respond to the Dow downturn after the big Yankee football game is a matter of history N'esy Pas?

  

Steve Whitaker

Remember, Trump takes credit for North American markets.

Ron Leblanc

@Steve Whitaker Well one bad week over the past two years is pretty good.

Marcus Garvey

@Ron Leblanc except Trump has only been President for one year.

Art McCarthy (Key Bored)

@Steve Whitaker
...and blames all negative news on;
- Democrats
- Fake news
- disloyal intelligence/DOJ/FBI

I hear the wheel of misfortune spinning.

David Amos

@Marcus Garvey "except Trump has only been President for one year"

True but this year is just beginning

Methinks nobody should deny that Groundhog Day was a very bad day not only for the Dow and Trump but for Hillary and her pals the FBI as well N'esy Pas?

Jay Dean

Market has realized that Trump is going down.

David Amos

@Jay Dean "Market has realized that Trump is going down"

Methinks thou doth jest to much. Perhaps you should look a little closer at recent history N'esy Pas?


 
Dirk Beauregard

"The stock market took a dive yesterday.

It was so bad, Goldman Sachs had to lay off three congressmen." –Jay Leno

Paul Bigras

@Dirk Beauregard

Theres a lot of truth to that joke.

David Amos

@Paul Bigras Methinks many a true word is said in jest and the very wealthy dude Jay Leno aught to know N'esy Pas?

 

Joseph Nostromo

When the market is at 25,000, this kind of drop is peanuts.

Robert Bruce

@Joseph Nostromo

The great flood had to start with a single raindrop

Joseph Nostromo

@Robert Bruce
What was truly amazing was how rapidly it went from 20K to 26K. This market overshot its value.

David Amos

@Joseph Nostromo "When the market is at 25,000, this kind of drop is peanuts."

That may be easy for you to say but methinks all won't agree with you N'esy Pas?

Joseph Nostromo

@David Amos
The people that are truly suffering are those that bought pot stocks and crytocurrencies in the past few months.

David Amos

@Joseph Nostromo Wanna big tip?

Google two names mine and Trump's

or better yet

David Amos Bank Fraud

David Amos

@Joseph Nostromo Des the cat have your tongue?

 
Dave laitinen

And Trump blames Nunes memo. It's Obama's fault. Go figure.

David Amos

@Dave laitinen I did Methinks if he truly said it then he would have made a very valid point.

 

Ralph Wilkes

I invest in empty beer cans, they never lose their value, 60 cents a dozen, I am going to be rich.

David Amos

@Ralph Wilkes Paint the beer cans black put them in a glass covered box in the sun and vent the heat into your abode then you can enjoy free heat while waiting for your investment to value to rise in value. Consider it a non taxable dividend

David Amos

@Ralph Wilkes No kidding

http://www.cbc.ca/news/canada/new-brunswick/fredericton-man-builds-300-solar-furnace-decreases-heating-bill-1.2527065

Randy Ellis

@David Amos

Add a tiny fan (like in your computer) and it works even better. And yes if you want to go whole hog you can run the fan off solar.

North American stocks fall further after Thursday's rout

Canadian job losses and sliding oil price weigh on Canadian market

Rajeshni Naidu-Ghelani · CBC News · Posted: Feb 09, 2018 12:11 PM ET | Last Updated: an hour ago

The Dow Jones index is headed for its worst week in nine years. (Richard Drew/The Associated Press)

North American markets headed lower on Friday afternoon, failing to bounce back from a steep sell-off on Thursday that sent the three U.S. benchmark indexes into correction territory.
The Dow Jones industrial average was down 1.99 per cent, or 474 points, at 23,386.29, while broader barometer S&P 500 lost 1.76 per cent, or just over 45 points, to slide to 2,535.66.

The tech-heavy Nasdaq composite was down by two per cent, or 136 points, to 6,640.74.

The Dow had plunged more than 1,000 points on Thursday, pushing it, the S&P 500, and the Nasdaq to fall more than 10 per cent from their record highs on Jan. 26.

That means all three indexes are now in what is considered a "correction" in the markets.

Meanwhile, the Dow is heading for its worst week in nine years.

The yield on the benchmark 10-year treasury note hovered at 2.80 per cent — near the four-year high of 2.885 hit on Monday. The bond is considered to be the global driver of borrowing costs.

As interest rates rise, the value of existing bonds falls, and borrowing to invest becomes more expensive.

"The fact that Monday's lows were breached on Thursday signals more trouble ahead, and rallies are likely to give way to rising bond yields," Peter Cardillo, economist at First Standard Financial in New York, told Reuters.

The CBOE Volatility index, which is the main gauge of expected volatility on Wall Street, rose to 38.51 in the afternoon — but still well below over 50 hit on Tuesday, which is a 2½-year high.

Canada down

The Canadian market headed lower as oil prices fell and Statistics Canada released disappointing jobs data.

The S&P/TSX composite index was down 1.54 per cent at 14,833.06 after losing 1.7 per cent on Thursday.

Economic data on Friday showed the economy had lost a surprising 88,000 jobs in January, hitting its biggest one-month decline in nine years.

"The concentration of the job loss in Ontario and the focus upon lost part-time jobs in that province will no doubt feed debate on whether large minimum wage hikes took a toll on employment, but proving causality may remain contentious," said Derek Holt, economist at Scotiabank in a note.

"It's possible the Bank of Canada dismisses most of this report as a transitory adjustment to higher minimum wages," he added.

The Canadian dollar traded at 79.23 US cents, down from Thursday's average of 79.46 cents.

The loonie has been facing weakness from the strength of the U.S. dollar as investors fled to the safety of the reserve currency amid volatility.

Oil falls below $60

Meanwhile, benchmark U.S. crude oil fell below $60 US a barrel for the first time this year, falling more than $2 to $58.28 US as investors dumped risky assets.

Concerns of oversupply the U.S. market also weighed on the commodity.

Shares of energy giants Encana were down more than six per cent, while Cenovus Energy fell more than seven per cent.

Markets around the world also reeled Friday from the sell-off on Wall Street Thursday.

Mainland Chinese shares led the declines with the Shanghai composite losing over four per cent, while Hong Kong's Hang Seng index lost over three per cent.

Asia's biggest market — Japan's Nikkei 225 index — lost 2.3 per cent.

In Europe, the benchmark Stoxx 600 index closed down 1.5 per cent, with all sectors in negative territory.

Global stock markets tumble after Wall Street battering

Market pros have been predicting a pullback for some time

The Associated Press · Posted: Feb 06, 2018 12:28 AM ET | Last Updated: an hour ago

A man walks past an electronics stock indicator showing the foreign exchange rate of the Japanese yen against the U.S. dollar in Tokyo on Tuesday. Tokyo stocks plunged with investor sentiment hit by a sell-off on Wall Street and the yen's surge against the dollar. (Behrouz Mehri/AFP/Getty Images)

Stock markets around the world took a battering Tuesday, following a dramatic sell-off on Wall Street that triggered concerns that a potentially healthy pullback from record highs could turn into a protracted bear market.

The selling, which gathered pace Monday when the Dow Jones industrial average posted its biggest percentage decline since August 2011, has been triggered by fears the U.S. Federal Reserve will raise interest rates faster than many in the markets have been predicting in light of a pick-up in wage growth.

• Dow falls 666 points, markets post biggest weekly loss in 2 years

"If investors look at underlying earnings growth and the fundamentals of the global economy, there is reason for optimism," said Neil Wilson, senior market analyst at ETX Capital.

"However once this kind of stampede starts it's hard to stop."

Stocks fall in Asia, Europe

Among the biggest fallers on Tuesday was Tokyo's Nikkei 225 stock average, which ended 4.7 per cent lower at 21,610.24, having earlier been down a massive seven percent. All other Asian bourses tanked, too, including the Shanghai Composite index, which closed 3.4 per cent lower at 3,370.65 and Hong Kong's Hang Seng, which skidded 5.1 per cent to 30,595.42. Australia's benchmark S&P ASX 200 slid 3.2 per cent to 5,833.30 and South Korea's Kospi declined 1.5 per cent to 2,453.31.

The selling persisted into European trading hours, though there was some sign of recovery following the initial losses at the opening bell. The FTSE 100 index of leading British shares was 1.8 per cent lower at 7,206 while the CAC 40 in France fell 1.4 per cent to 5,212. Germany's DAX was down 1.9 per cent at 12,441.

Trader Peter Tuchman works on the floor of the New York Stock Exchange on Monday. The Dow Jones industrial average plunged more than 1,100 points as stocks took their worst loss in six-and-a-half years. (Richard Drew/Associated Press)

Though many stock indexes are close to where they started the year, the losses mark a major reversal following a sustained period of gains, a pullback that market pros have been predicting for some time.

Stephen Schwarzman, the chair and CEO of Blackstone, warned recently at the World Economic Forum of a potential "reckoning" in markets.

Futures markets predicting modest improvement

A 10 per cent drop from a peak is often referred to as a "correction" while a bear market is generally defined as a 20 per cent or so drop in indexes. The S&P 500, for example, has fallen 7.8 per cent since it set its latest record high on Jan. 26.

"Seemingly the only hope for the markets at the moment is that investors suddenly decide that the sell-off has been a bit overdone," said Connor Campbell, a financial analyst at Spreadex.


The catalyst for the latest sell-off came in jobs figures last Friday showing that wage growth in the U.S. was creeping higher. For many traders, that was a sign that the Fed will have to pick up the pace of its rate hikes — higher wages have the capacity to fuel inflation.

Much could hinge on the open on Wall Street and futures markets are predicting a modest improvement — Dow futures and the broader S&P 500 futures are up 0.6 per cent at 1.2 per cent, respectively.

U.S. dollar remains resilient

On Monday, the Dow finished down 4.6 per cent at 24,345.75, while the S&P 500 sank 4.1 per cent, to 2,648.94. Falls like this have not been registered since August 2011 when investors were fretting over Europe's debt crisis and the debt ceiling impasse in Washington that prompted a U.S. credit rating downgrade.

Still, while stocks take a hammering, other financial assets are becoming more attractive to investors. Gold, for example, was up 0.5 per cent at $1,343 an ounce.

The U.S. dollar remained fairly resilient despite the stock market sell-off, which at one stage Monday saw the Dow shed 1,597 points. The euro was up 0.4 percent at $1.2415 while the dollar rose 0.1 percent to 109.22 yen.

What faltering stocks and bonds could mean for house prices: Don Pittis

A strong economy is good for housing demand, but new uncertainty could push prices down

Don Pittis · CBC News · Posted: Feb 05, 2018 7:05 PM ET | 

Builders often sell homes well before they are ready to live in, creating something like a futures market that can hint at impending declines. (Sean Kilpatrick/Canadian Press)

Stocks and bonds may be going through a bad patch, but a more important question for many Canadians is how a new feeling of financial uncertainty is affecting their biggest single investment: their homes.

Statistics Canada doesn't ask Canadians directly whether they invest in stocks or bonds. However, as of May 2016, 67.8 per cent of Canadian households owned their own homes.

As bonds and stocks tumble due to fear of rising interest rates, there are signs Canada's housing market is facing similar strains.

Prices hard to read

Unlike stock and bond indexes that offer an accurate running tally, the monthly Canadian Real Estate Association data we use to estimate the changing value of residential real estate is neither as immediate nor as transparent.

After yesterday's wild swings on the markets, the sluggish nature of real estate numbers seems like a blessing, but inevitably it makes house prices harder to read.

CREA only counts transaction prices of resale homes sold through a broker. The data requires a lot of interpretation.

Each resale home is unique and the motivations of sellers in a complex market are difficult to decipher.

In Canada's hottest markets, developers have yet to satisfy demand and experts say condo prices remain strong. (Don Pittis/CBC)

For instance, a decline in sales may indicate sellers are keeping properties off the market in hope of prices returning to their highs. In a falling market, it could be a logjam waiting to break.

Since houses that are listed but withdrawn don't show up in the statistics, rising prices may be skewed toward houses sold in areas that are most in demand.

Those looking for an accurate measure of house prices might want to turn to the presale market. And in cases reported last month by the CBC's Trevor Dunn and in the Toronto Star last weekend, the evidence is troubling.

Housing futures market

There are two advantages of presales as an indicator of the housing market.

Looking at prices of nearly identical homes in the same area allows you to compare.

And since the houses have not even been built yet — the construction site looks like a muddy field — they act as a futures market, showing what people are willing to pay now for a house that won't be finished for at least a year.

The people the CBC's Trevor Dunn spoke with east of Toronto said houses like theirs are selling for $90,000 less than what they paid a year ago.

The Star story, which ran on the front page Saturday under the headline "Buyers stunned as new homes lose value," quoted a woman who the paper says paid $955,000 for a home now selling for $859,000, a difference of $96,000 in 12 months.

Drifting downward

"Recently, prices in the GTA have drifted downwards," Mattamy Homes Canada president Brad Carr told Dunn. "Obviously we need to respond to be able to sell at prices purchasers are willing to pay."

• What did the neighbours pay? Whitby homebuyers just found out the answer: a lot less

Just as in the bond market, higher borrowing costs — with the prospect of further interest rate increases ahead — is bound to help take the heat out of the market.

Following a recent column of mine suggesting many people weren't prepared for the changes that a bout of inflation would bring, one reader tweeted that his first mortgage had been 15 per cent.

"Well you can't put a 15% annual interest rate on a 20 year 300k mortgage in today's world," another Twitter user responded. "No one would be able to afford a house."


And that's just the point. No one is expecting 15 per cent interest rates any time soon. But every interest rate increase from current lows makes houses less affordable, forcing sellers like Mattamy to cut prices if they want buyers.

An odd quirk is that as house prices went up there was little impact on the official inflation figures because the total value of a house doesn't feed into the inflation rate. It is monthly carrying costs that count.

Vicious circle

Now, as interest rates rise, higher monthly payments will pile on to inflation, contributing in turn to even higher interest rates.

As she left her job last week, outgoing U.S. Federal Reserve chair Janet Yellen worried that prices for stocks and commercial property were "near the high of their historical ranges."​

Strong employment, higher wages and immigration are good for new home sales, even while rising interest rates help push house prices lower. (Don Pittis/CBC)

Despite a gradual rise in interest rates that remain at historical lows, other economic signals in Canada such as low unemployment, rising wages and lots of immigration are good for the housing market. Falling home prices are also good for people looking to buy for the first time.

As with falling stock prices, some people see the advantages of buying while prices are down.
Buying a house at a savings of $100,000 is a great deal so long as you don't think prices will fall another $100,000 the following year.

• Dow plunges nearly 1,200 points as North American market rout deepens

Psychology plays an enormous part in homebuying decisions. Continued stock market instability could be a drag on housing. But Yellen says the U.S. economy, crucial to Canada's sense of well-being, is strong enough to survive.

"If stock prices or asset prices more generally were to fall, what would that mean for the economy as a whole?" Yellen asked rhetorically in an interview Friday. "And I think our overall judgment is that, if there were to be a decline in asset valuations, it would not damage unduly the core of our financial system."

In the case of Canadian homes, the important economic story is that while builders like Mattamy have been enjoying a windfall as prices shot up, it is clear they intend to continue supplying the market, making a profit even as prices retreat. 

Dow Jones plunges as North American losses deepen

Benchmark Dow Jones index fell below 25,000 for the 1st time since Jan. 4

By Rajeshni Naidu-Ghelani, CBC News Posted: Feb 05, 2018 9:44 AM ET

Last Updated: Feb 05, 2018 3:29 PM ET

 

Rising bond yields and the prospect of higher interest rates continued to weigh on the benchmark indexes. (The Associated Press) 

Losses in the North American stock markets sank deeper into the red on Monday afternoon after the Dow Jones index fell as much as over 1,500 points following its worst weekly decline since 2016 on Friday.

The benchmark Dow Jones Industrial Average lost 809 points and was down 3.2 per cent to 24,711.79 points in afternoon trading. But it was down over 1,500 points at one point.

It was the first time the Dow fell below 25,000 points since Jan. 4. It is also the largest daily drop on the index in its history.

On Friday, it lost 666 points, its biggest daily decline since during the global financial crisis in December 2008.

Meanwhile, the S&P 500 lost 2.8 per cent to 2,685.98, while the tech-heavy Nasdaq Composite was lower than 2.5 per cent to 7,061.76. Both indexes had lost about two per cent on Friday.

The financial, energy and industrial sectors were among the biggest losers in the U.S.

• Markets hit biggest weekly loss in 2 years, Dow falls 666 points

Derek Holt of Scotiabank Economics said investors' "fear" in the market was the result of several factors.

"First, strained valuations, second, central bank concerns in a week that is full of global central bank decisions; plus a U.S. shutdown risk by Thursday as the debt ceiling suspension draws to a close in a little over a month," he said in a note.

Bond yields

Rising bond yields also continued to weigh on shares as investors worried that signs of rising inflation could make the U.S. Federal Reserve raise interest rates faster than anticipated.

As interest rates rise, the value of existing bonds falls and borrowing to invest becomes more expensive.

The yield on the 10-year U.S. treasury note surged to 2.885 per cent overnight, a four-year high, but fell back to 2.841 per cent in the morning.

• New mortgage stress test rules have borrowers flocking to alternative lenders

Robert Kavcic of BMO Capital Markets said in his morning note Monday that despite the sell-off in equities, the rise in treasury yields has not relented.

"Surging bond yields and the realization that monetary tightening is now a real and more significant factor," he said.

"This just serves to reinforce our expectation that a March rate hike is coming, and that the three-per year pace that we have in our forecast right now is probably the starting point."

Canadian shares

In Toronto, the S&P/TSX Composite was down 1.6 per cent to 15,360.23 points in the afternoon.

The index had lost 255 points, or 1.6 per cent, on Friday, marking its worst decline in nearly five months. It had also lost four per cent for the week, marking its worst weekly decline since January 2016.

Financials and energy shares weighed on the index as benchmark U.S. crude fell 1.8 per cent to $64.26 US a barrel in New York.

• Fairfax Financial to buy some Carillion Canada contracts, take over 4,500 jobs

Shares of Toronto-Dominion Bank and Bank of Montreal were both down about 2.7 per cent.
On the other end, healthcare and the materials sectors were up on Monday after seeing losses for much of last week.

Shares of Aurora Cannabis were up 12 per cent after announcing that it would buy 20 per cent stake in an Alberta liquor store chain.

Weaker loonie

The Canadian dollar was trading at 80.03 US cents, down from Friday's average price of 80.78 US cents.

Despite the loonie trading lower in a "risk off" market, Bipan Rai of CIBC Capital Markets said it does remain less sensitive than most other currencies to the global equities sell-off.

"Global central banks continue to diversify into the Canadian dollar. As of the third quarter of 2017, the amount of Canadian dollar reserves owned by central banks had grown by 85 per cent since the beginning of 2014," he said.

"Currently, we estimate that central banks own around 30 per cent of the domestic sovereign market."

Rest of the world

The majority of Asia's major markets closed down on Monday as Wall Street's sell-off on Friday raised concerns about an overdue correction in equities.

The region's biggest market, Japan's benchmark Nikkei 225 tumbled 2.6 per cent, while Hong Kong's Hang Seng index lost 1.1 per cent.

The lone bright spot was Mainland China's Shanghai Composite, which reversed losses to close up 0.7 per cent.

In Europe, the benchmark Stoxx 600 finished lower by 1.6 per cent — marking its lowest level since November. It's the sixth consecutive day of losses for the index.

That is the biggest decline for the index since the United Kingdom voted to leave the European Union in June 2016.

German coalition talks heightened concerns of political instability in the region after the country's political parties struggled to form a government.

Markets hit biggest weekly loss in 2 years, Dow falls 666 points

Stronger jobs data from U.S. economy raise likelihood of interest rate hikes

CBC News Posted: Feb 02, 2018 12:06 PM ET

The decline in U.S. stocks deepened in the afternoon, following jobs data that showed the strongest annual wage growth since 2009, raising the prospect of higher inflation and more interest rate hikes. (The Associated Press)

North American markets ended a volatile week with sharp losses led by the Dow Jones index losing 666 points, or 2.5 per cent, in its biggest decline in two years.

The Dow Jones Industrial Average closed down at 25,520.96 points, while the S&P 500 lost 2.1 per cent to 2,762.13 points.

Both benchmark indexes saw the worst week of losses since January 2016.

The tech-heavy Nasdaq Composite dropped two per cent to 7,240.95 on Friday — marking its worst week of losses since February 2016.

The decline in U.S. stocks deepened in the afternoon, following jobs data that showed the strongest annual wage growth since 2009, raising the prospect of higher inflation and more interest rate hikes.

Nonfarm payrolls jumped by 200,000 jobs in January after rising 160,000 in December, while the unemployment rate remained at a 17-year low of 4.1 per cent.

• U.S. added strong 200,000 jobs in January; pay up most in 8 years

But Scotiabank economist Derek Holt said in his morning note that he was cautious about the acceleration in wage growth for a few ​reasons.

"Wages may have accelerated… but incomes in aggregate were dented by working fewer hours," he said.

Robert Kavcic of BMO Capital Markets said the "relentless" rise in bond yields is probably not helping markets at this point.

"The 10-year Treasury is pushing 2.8 per cent for the first time since early 2014, and the two-year is nearing 2.2 per cent for the first time since the Fed eased aggressively during the financial crisis," he said.

As interest rates rise, the value of existing bonds falls and borrowing to invest becomes more expensive.

Earnings impact

Weak earnings from several large companies like Exxon Mobil, Chevron and Google's parent company, Alphabet, also weighed on the benchmark indexes.

Index heavyweight Apple's shares were also down 4.3 per cent after its earnings on Thursday showed that the tech giant sold 77.3 million iPhones in the last quarter, below the 80 million expected by analysts.

• Strong iPhone prices buoy Apple shares after revenue forecast miss

The Canadian dollar, meanwhile, traded at 80.78 US cents, down from 81.38 US cents on Thursday.

The greenback was stronger against most major currencies on the strong jobs data.

Canadian market

Falling oil prices and a continuing decline in the marijuana sector also contributed to big losses on the Canadian market.

The S&P/TSX Composite lost 255 points, or 1.6 per cent, to 15,606.03 points, marking its worst decline in nearly five months.

The market lost some four per cent this week, which is its worst week since January 2016.

• Market instability comes at an inconvenient time for Canada's financial industry: Don Pittis

The energy and materials sectors were among the hardest hit, as crude oil and gold prices fell.
Benchmark U.S. crude fell 35 cents to $65.45 US a barrel in New York, while gold was down $10.60 to $1,337.30 an ounce.

Shares of Imperial Oil finished down 4.3 per cent after its fourth-quarter earnings fell short of market expectations.

Weed prices

The healthcare sector was the biggest loser on the index as marijuana stocks continued to lose value.
Analysts said cannabis producers will continue to see more volatility in the weeks ahead on issues such as oversupply in stock and falling prices.

A government web survey on Friday showed that Canadian marijuana costs $6.85 a gram after suggesting earlier that weed prices have been falling in recent years as illegal producers boosted production.

Shares of the country's biggest marijuana producer Canopy Growth fell 12.5 per cent on Friday.

• Aphria selling stake in U.S. pot producer in $20M deal