China's bubble and currency devaluation wipes off $5 trillion.

US stock markets open 1000 points down, currently -2%

Virtually all stocks trading low.

Markets mainly witnessing mass sell offs.

Online stock market sites not accessible.

Big boys selling off, while the plebs are locked out.

Stock brokers refusing to sell off stocks.

Sept 13, 2015 has begun.

This is not good at all. A colleague just confirmed his own shares in a company abroad refused him selling off his company shares. this is serious.

shaiba:
This is not good at all. A colleague just confirmed his own shares in a company abroad refused him selling off his company shares. this is serious.

The Feds are preventing the common man from selling but allowing the big boys to cash out to prevent panic.

By far the worst sector is the energy sector which is averaging -50% drop.

[img]http://usatmarkets.files./2015/07/capture27.jpg?w=1000[/img]

This should put pressure on the price of oil. It's not looking good for mono economies like Nigeria.

Oil could crash below $40 by the end of this week.

Things are going to be very bad for Nigeria.

Dow Jones Live
https://www.google.com/finance?q=INDEXDJX%3A.DJI&ei=R4XXVbnnD4KO2Aam17bYDg

Great fall of China sinks world stocks, dollar tumbles
http://news.yahoo.com/asia-down-china-woes-unnerve-markets-safe-haven-001919460--business.html

China plunges 8.5% triggering global rout
http://www.ft.com/cms/s/0/855d2014-4a30-11e5-b558-8a9722977189.html

Bloomberg is just ranting on Apple's bounce back even though it is still selling below it's opening price.

Obviously the bullsh1t media don't want to raise panic.


But by far the worst sector is the Energy sector which has lost on average 50% share price.


This is not good for Nigeria because this will definitely affect oil price and the Saudis are not ready any time soon to stop pumping more oil that is needed.

Too bad you have a geriatric clueless illiterate for a president.

BishopMagic:
Bloomberg is just ranting on Apple's bounce back even though it is still selling below it's opening price.

Obviously the bullsh1t media don't want to raise panic.


But by far the worst sector is the Energy sector which has lost on average 50% share price.


This is not good for Nigeria because this will definitely affect oil price and the Saudis are not ready any time soon to stop pumping more oil that is needed.

Too bad you have a geriatric clueless illiterate for a president.

Can u pls explain to a layman like myself who doesn't understand all this economics term..How it affects oil price, it's implications to Nigeria, while d dollars is still rising inspite of this, cause of the heavy crash and if a rebound is possible in a not too distant future.....Thanks in anticipations

I spoke too soon.


Crude currently trading at $38 down from last friday's closing price of $40

http://www.marketwatch.com/investing/future/clv5/charts

[img]http://www.marketwatch.com/kaavio.Webhost/charts/big.chart?nosettings=1&symb=CLV5&uf=7168&type=2&size=2&sid=4292084&style=1013&freq=1&time=8&rand=965507246&ma=1&maval=50&lf=1&lf2=4&lf3=0&height=444&width=579&mocktick=1[/img]

olatunji21:

Can u pls explain to a layman like myself who doesn't understand all this economics term..How it affects oil price, it's implications to Nigeria, while d dollars is still rising inspite of this, cause of the heavy crash and if a rebound is possible in a not too distant future.....Thanks in anticipations

If stocks are crashing then expect more sell offs and with China already in a recession pulling Europe and the US into it will affect investments leading to lower energy demand and with Saudi still pumping more oil into the global market you can expect cheaper oil.

On the dollar crashing and why the naira is not appreciating is because virtually all our earnings are based on dollars And with expected drop in crude prices you should expect the naira to further crash.

Your govt is not doing anything to shore up the naira rather it is creating artificial scarcity and price controls to hike the value of the naira.

now gworo is more valuable than oil,can Biafra go?

olatunji21:

Can u pls explain to a layman like myself who doesn't understand all this economics term..How it affects oil price, it's implications to Nigeria, while d dollars is still rising inspite of this, cause of the heavy crash and if a rebound is possible in a not too distant future.....Thanks in anticipations

Concerns about china's growth(arguably the largest economy) is the cause of the panic.

A slow down in china means they will cut down on importing oil which is also already over supplied.

If china's manufacturing output also keeps declining then expect the big tech giants to start losing money as they usually outsource their manufacturing to china

Dollar is rising because it's being used as a hedge against market volatility. It's simply a strong asset class same as Swiss francs

BishopMagic:
China's bubble and currency devaluation wipes off $5 trillion.

US stock markets open 1000 points down, currently -2%

Virtually all stocks trading low.

Markets mainly witnessing mass sell offs.

Online stock market sites not accessible.

Big boys selling off, while the plebs are locked out.

Stock brokers refusing to sell off stocks.

Sept 13, 2015 has begun.

don't be decieved this is not just happening, it has been happening for some years but the world leaders are doing what we call off-book bailout. They had been printing more money and reducing their reserves to bail world economy secretly so they have bunch of. Lies for you sept... Don't get it?

BishopMagic:


If stocks are crashing then expect more sell offs and with China already in a recession pulling Europe and the US into it will affect investments leading to lower energy demand and with Saudi still pumping more oil into the global market you can expect cheaper oil.

On the dollar crashing and why the naira is not appreciating is because virtually all our earnings are based on dollars And with expected drop in crude prices you should expect the naira to further crash.

Your govt is not doing anything to shore up the naira rather it is creating artificial scarcity and price controls to hike the value of the naira.

Thanks boss... But what can the govt do to protect the naira other than what's currently doing not forgetting d govt is jst 3month old, even if diversification is d option, it's untenable to expect miracles in 3months not even 6 would do.. Ur expert opinion would be duly appreciated..Thanks once more...

jaybee3:

Concerns about china's growth(arguably the largest economy) is the cause of the panic.

A slow down in china means they will cut down on importing oil which is also already over supplied.

If china's manufacturing output also keeps declining then expect the big tech giants to start losing money as they usually outsource their manufacturing to china

Dollar is rising because it's being used as a hedge against market volatility. It's simply a strong asset class same as Swiss francs

Thanks a bunch... This is brief but Comprehensive in Scope..

olatunji21:

Thanks boss... But what can the govt do to protect the naira other than what's currently doing not forgetting d govt is jst 3month old, even if diversification is d option, it's untenable to expect miracles in 3months not even 6 would do.. Ur expert opinion would be duly appreciated..Thanks once more...

Very simple... Increase our productivity via exports and reduce our reliance on imported goods and services since that's where Naira is getting its biggest pressure from

jaybee3:


Very simple... Increase our productivity via exports and reduce our reliance on imported goods and services since that's where Naira is getting its biggest pressure from

If they do that, it will massively benefit the enterprising, producing and innovative Igbos. So they won't do it for the fear of Igboman.

dialfa:


If they do that, it will massively benefit the enterprising, producing and innovative Igbos. So they won't do it for the fear of Igboman.

Get your trabilistic mindset off this thread abeg geez

jaybee3:

Get your trabilistic mindset off this thread abeg geez

abi I lie?

dialfa:


abi I lie?

With your warped mindset, you failed to factor the fact that the goods will have to be exported via ports in other regions and money repatriated back through major banks whose shareholders are diverse.
They will also have to pay corporation tax to the Nigerian Govt


The impact of increase in export is a multiplier effect which isn't going to be restricted to any given region

dialfa:


abi I lie?

It's ironic you needed an explanation to understand the economies of the tumbling global stock exchange but amazingly you do not need any help whatsoever in flaunting your tribal bigotry. You just can't help it, can you ?


[size=14pt]Like PEAK it's in you.[/size]

A lesson to goons who thought China is the next big show.

America thought china will go down alone
Na lie!