Asian stocks start the day falling sharply – can Dow Jones Industrial Average crash?
Sandra Simons
Jun. 8, 2008

The oil price is up and approaching the $150 mark. The gasoline price has breached $4 per gallon mark and approaching the $5 mark. The foreclosures are skyrocketing. In the middle of all these commodity prices are moving higher.

The economists have not seen anything like this for a long time. On one side we see economic slowdown that mimics depression in some sectors. On the other hand there is a massive inflation that has crippled the purchasing power of consumers across the globe.

Japan's Nikkei 225 Stock Average lost 2.4 percent to 14,147.17, on course for its largest decline since April 14. South Korea's Kospi index dropped 2.4 percent. Markets in Australia, Hong Kong, China and the Philippines are closed for holidays today. Asian stocks dropped, led by automakers and technology companies, after U.S. unemployment rose the most in 22 years and oil gained more than $10 a barrel.

What happens to stocks in US will guide the rest of the world. Some financial analysts are afraid that a climactic sell off resulting in a massive crash may be in the making. The world financial system can be challenged like never before.

The higher oil price will trigger more foreclosures and credit card defaults accelerating run on the banks. The financial institutions are headed into a massive collapse typical after a 100 year banking cycle.

Asian stocks start the day falling sharply – can Dow Jones Industrial Average crash?
Sandra Simons
The higher oil price will trigger more foreclosures and credit card defaults accelerating run on the banks. The financial institutions are headed into a massive collapse typical after a 100 year banking cycle.
READ MORE>>

Before trying to missile Russia, Bush and McCain should shield American economy from financial crisis: Russian President Medvedev
Tarun Sikhdar
Russian President Madvadev is pretty mad on Bush and McCain and their war mongering policies as America tries to subordinate countries that oppose America in any way.
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The G8 calls for global action on oil but real culprits – India, China, and OPEC stay untouched
victor Upadhaya
Stop China and India from enjoying outsourcing money and direct foreign investments. That will force them to stop oil subsidy. Free market price will automatically curb the oil demand...
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Oil price is a slave of hedge funds and private equity funds - a collapse below $90 inevitable
Carolyn Plaza
The spectacular jump in oil price today confirmed what we suspected for a long time. The oil pit in NY was filled with hedge funds and private equity funds speculation money buying oil on any weakness of dollar.
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Lehman Brothers faces serious trouble in raising capital – another Bush Bernanke bail out?
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The word in the street is that Lehman Brothers is having serious trouble in raising money. They are Lehman Brothers Holdings Inc., is set to report its first quarterly loss since going public.
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After Bear Strens its turn for Wachovia and Washington Mutual for federal bail out
Deolinda Francisco
The situation is grim especially with thin ice below the bank’s feet with massive loses in the subprime sector.
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