Stocks Plunge on Economic Fears, Gold Hits Record High

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CNN Money
Thursday, August 18, 2011

NEW YORK (CNNMoney) — Turmoil returned to U.S. stock markets at Thursday’s open as renewed concerns about the global economy sent major indexes plunging and pushed gold to a new record high.

Investors were working through bad news on various fronts, including a dismal forecast from Morgan Stanley for global economic growth, and two U.S. government-issued reports on inflation and the job market.

At the open, the Dow Jones industrial average (INDU) dropped 307 points, or 2.7%; the SP 500 (SPX) was down 36 points, or 3%; and the Nasdaq Composite (COMP) lost 89 points, or 3.5%.

A gloomy report from Morgan Stanley intensified fears over a slowing global economic recovery. The investment bank slashed its global growth outlook for 2011 and 2012, adding that the United States and Europe are “hovering dangerously close to a recession.”

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19 Responses to “Stocks Plunge on Economic Fears, Gold Hits Record High”

  1. “Dive…Dive…Dive…Quartermaster, Make Your Depth 9,000…Report!”

  2. lets say one perchases an once of pure gold. and he pays 1800 for that once. I hope that soul does not expect he is going to get 1800 on the next day if he sold it.It would be an illusion more than fact. take away the broker commission cost and you are in the red with your one ounce gold: If you think of selling the next day. Maybe if you wait years and the price jumps to 2,000 you might make a profit?

    I went to a place that sells gold and melts golds, just to see what my gold and diamonds ring I bought back in 1979 would sell for. back then gold was selling for maybe 300 an once.
    What was I told do you think? that ring is worth nothing. OH ok i see. I am being told to invest in gold and when I bring gold I bought back in 1979 the stuff is not worth what I payed back then???
    oooooKKKKKKK. TRUE my ring is not a 24 carot gold and the diamonds on it are not top diamonds but I still paid the ring a price back in 1979 I would expect to get very close to the price I paid back then but I’m not. OK then where is the problem here? the people who buy old gold are frauds?? maybe that is the answer? i do not know for sure.

    So this is why I have dought about the gold investing , I can see the prices going up oh yesss who doesn’t. But it seems to benifit only those who sell it for some reason????? and when you try to cash in thinking it’s your turn to get some money it does not happen the way you think it does or should?????? IT reminds me a lot of RSP investing: they make you dream about investing in a rsp for your old days, and give you numbers if over 30-40 years you save XXXXX it will give you XZXZXZ but 40 years down the road they tell you : we could not predict the world economy would crash. 🙂 so is that the evil game played? and is gold being used in the same manner?

    TheRealJoker Reply:
    August 18th, 2011 at 7:24 am

    Traded an once gold coin last week for $1,700 through an actually gold dealer and not a seller/melter that takes advantage of peoples ignorance (I’m not calling you ignorant). Bought something more valuable and here’s a few clues. It’s heavy, has a 26″ barrel, which is in .50 Cal. Doh!

    Vic Reply:
    August 18th, 2011 at 8:27 am

    no I understand what you are saying. I agree with you about ignorance.The word is not evil, it’s thr truth.

    I know nothing about this gold and silver stuff like so many out there.
    when I was young I could have bought gold at 300 an once. BUt back then it was expensive in my mind. back then I was earning about 20,000 a year . now at 1800 an once man I have even less money than I had back then. so it is a no wining game for people like me.I am retired now. can only buy little bits of gold at a time 1/2 an once over 800 $ do you know how big that peace is? 800 dollars?

    back in the 80′s I bought junior gold moning stocks lost what ever I had in that.
    This is why I feel investing isn’t for me, I always end up loosing what I try to save away.
    I am better off putting my cash in my home walls 🙂 forgeting my savings are there 🙂

  3. Crud! I could just kill my wife. I tell her all the time, “See? And you thought I was nuts when I wanted to take $25-Grand and buy gold with it when it was going for $900 an ounce!”

    Sonofabitch! Could’ve more than doubled my money. DAMMIT!!

    Vic Reply:
    August 18th, 2011 at 7:15 am

    don’t blame your wife. YOu just should blame yourself. The world isn’t your problem, it’s YOU who did not believe in the stuff .Anyone could blame the world, back in 1979 gold was 300 an once about and I not giving a hoot then about gold thought it was too expensive to waste my money on. I prefered bying beer and partying with the guys or bying a car or a trip down south.

    I am the only one to blame, no one else. and so are you good fellow.Your wife has nothing to do with it. STop wanting to take it out on your wife.

    Let bygones be bygones.. IF your name is Rockefeller you will get more for your once of gold than an ordinary JOE BLOW, that is my feeling but I can be wrong about this also. Right now this is how I see it.

    But slowly like a turtle I am trying to invest what little money I have on bits of silver and i hope to buy a few gr of gold??? but something inside me tellm me better buy food old man for gold will not keep you alive for very long. what you gona buy with your gold if the shelves are empty? the only thing that can and probably happen is you will be killed for the little gold you own?

    damagedgoods Reply:
    August 18th, 2011 at 7:35 am

    people invest in gold for one reason only and that’s to make sure their many holds its value … $300 back in 1979 have the same purchasing power of $1800 now , so really its all about preserving wealth and the value of it .
    Very few people can make money on gold and silver …
    You know, 300 dollars in 2007 don’t have the same purchasing power as the three hundred dollars in 2011 .
    If you only want to preserve the value of your money then invest in metals other wise i advice against it .

    Vic Reply:
    August 18th, 2011 at 8:33 am

    back in 2007 300 dollars one bought more with today you just go to the grocery store and look what goes in one bag and how it costs?

    with my next tax retrun I will try to by 1 once or pure gold. but it will be at 2,000 then.

    Those who do have the money, do not fall in the same mental trap I fell for. I now see my mistake. Even if it is too late for me maybe, the little I will buy will go to my 2 daugters when I leave this planet. But the ironic thing about that is they could be of those who do not see it also? I have never thought them that, I did not understand it myself.:(

  4. Ever heard of ‘figuratively speaking’?

    Don’t worry. I still love my wife and we have been in love for 28 years 🙂

    Still disappointed, though, that I didn’t do what I wanted to do back then.

    I guess I’ll have to wait for other, different opportunities.

    notoriouskelly Reply:
    August 18th, 2011 at 7:55 am

    Str8- Great to hear of your lasting, loving marriage.

    Do something special for her today – even if just a bouquet of store-bought flowers 🙂

    Vic Reply:
    August 18th, 2011 at 8:37 am

    Yes str8shuter I understood what you meant about figuratively speaking 🙂

    My response was a good hearted one, hope it did not hurt your feelings was not my intention.

    we all need to learn and for many of us on this planet others are doing everything they can to keep the any out of shring the wealth that could be at our reach also IF WE ONLY knew and understood how maney can be made.

    May peace guide you and your love ones to safety

  5. We would be completely out of this planned destruction of the American economy and Europe’s if this were anything near a normal “cycle,” of plunder… and if control of our government actually were in the hands of the People and their actual representatives.

    There are only three possibilities to explain this:

    1. Graft and corruption common in history only taken to an international level… which has reached a tipping point and got out of control… .

    2. A planned destruction of Liberty and all sovereignty.

    3. Both 1. and 2. … mixed with what can only be call a malevolent psychotic… agenda.

    One does not have to search history… for long to finally peal away the farmed mind… and to begin to match it against the same element… that occupy every key nexus of our government, every intelligence agency substantively… even now most of the Military’s highest officers. There names and cover names are right before our eyes.

    However… the thought that goes like: the Internet has effects that no one understood and that are exponential in their negativity and in their positive reinforcement of intuitive facilities that support Liberty. That is… the agenda does not look SLOW any longer, is out of control because the human mind has solved the connection problem… the separation… and its power can be used for good or for evil and is being used so… ..

    So the AGENDA has speed up and there is a ‘why’ to that story.

    The pause we saw in the agenda after the programed “fall,” of the Soviet Union in the 90s was in part because both the mind of America and the bureaucracy was not quite totally infiltrated and the Internet technology revolution was a mighty force… an undercurrent that perturbed those plans.

    We saw the first attack on the World Trade Center in ’93 and then Waco… the first was the continuation of the agenda of Reagan’s election, the Fall of the Soviet Union and then like the overstep after WW1 with the League of Nations… the arrogance kicked in. The ’93 attack was it seems in part at least… botched.

    The arrogance is hardly surprising given the group we are talking about… who think the rest of humanity to be “animals” and whose controlled non tribal elements, boots on the ground… think of humanity as animals too for scientific reasons… biological reasons, anti religious reasons etc. .

    Of course the tribal insanity and the scientific lurch to a soulless gutter… crisscross; they are basically the same and the masonic line going through the “Goy,” which is expressed today with think tank traitors like the CFR and the Aspen Institute… etc. etc. are just a refraction of the racist core of our overlords.

    In the end the economy crashed in the late 90s from a more common type of bubble… the last gutting of capital and mass stock scheme… .

    But its psychic tension was road right to 911 whose audacity blinded most all of us for a few years… “… Americans could not be part of this… etc. .” But it had the clammy hand prints of inbred psychopaths all over it including its every international outcome.

  6. Gold is over $1820 right now, worldwide indicies are down 2 – 6%
    watch it live here on the liveticker it’s still running, but down for stocks and up for gold

  7. Soooo whats the Fed gonna tell everyone this week to soothe their investing fears? I think they used up their last excuse last week. Of course Obama is on vacation yet again so he can’t comfort us. Screw it. I say let the stock market crash. Welcome the resulting unrest. Capture the elite criminals when its all done and hang em high!

    Vic Reply:
    August 18th, 2011 at 8:47 am

    Obama ? nothing Obama does can help us it is all an illusion. the president seat has become since JFK a puppet seat. those who believe the presidents are in command need to grow up or at the least mature and accept this is not the case. If it was, the troops would all be back home right? and the borders would be secured like they should.

    they keep blaming the previous gov for the mess they now have but they quadruple the dept but it’s the predessors fault??????? words are words and action is action.

    NOw lest see what Ron Paul will do. For now he is the obvious president to elect. Is this all another illusion being planned by the NWO? please don’t get me wrong, I have trust in Ron Paul but I been burned with OBAMA who I thought was working for the people and goodness. So since he cannot do what he promissed I cannot stop thinking why would they let Ron Paul do what he wants to do????? I am hoping he is real like so many also but there is a french expression that says ” a cat that has been boiled, fears hot water????? ”

    Right now I see the obvious: Ron Paul is the electable one but mainstream media are sayiong he is unelectable. So in my mind just like in so many minds out there I am saying I am capable of determining who is and who isn’t electable and no one will tell me who I should vote for specially not the media or journalists who work for the NWO thugs.

  8. “Of course Obama is on vacation yet again so he can’t comfort us”
    How can someone who has lied 100% ever since he took office comfort anyone when he has no credibility?
    No one has faith or confidence in anything our government says or does anymore. We are on our own.
    By the way, Obama and Michelle are living it up as much as possible more than ever, because they know every well he’s toast with his current 26% approval in the economy. How can a president who has taken more vacations than any other president in history with his fat wife spending millions in luxury vacations every week for her pals using Air Force One be concerned about America? Obama’s role was to wreck the economy and that he has done brilliantly. Now everything can be privatised just like Chile and Argentina. Can’t wait for the disappearances.
    Moreover Obama has disgraced blacks in America. No one will ever vote for a black person again ever.

  9. I say let this thing collapse and bring everybody, most especially the sheeple, to their senses. The continued prolongation of this collapse is stretching people to their limits whilst keeping the sheeple ignorant and disengaged with the realities of the evil in our world and leadership.

    The mortgage companies apply pressure to an financially stretched, economically deprived and jobless individual. These companies refuse to come to terms with the plight of these people but rather add more to their troubles.

    I say bring this house of cards down and let the whole world sing from the same hymn book.

  10. HERE’S THE REAL REASON YOU NEED TO BUY SILVER AND GOLD RIGHT NOW– “VIDEO: Economic Collapse – Imminent Global Financial Crisis and U.S. Dollar Collapse!”

    (click on my profile name to go to my blog to see my full video)

    I urge you, watch this eye-opening video on my blog and find out how the global economic crisis will change the way you live.

    I’m posting my blog video here because I need to reach out to the real people who are effected by the Global Economic Crisis. Please pass this video on.

  11. Just to be clear I wouldn’t expect comfort from Obama. I was being facetious.

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