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Old March 3rd 09, 07:30 AM posted to sci.environment,sci.physics,alt.culture.alaska,sci.geo.meteorology
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Default Day ??n*10^3 - The Sun Hibernates - Global stock markets plunge

"March 3, 2009"
http://www.spaceweather.com/
"Daily Sun: 03 Mar 09 The sun is blank--no sunspots. Sunspot number: 0"
"Far side of the Sun: This holographic image reveals no sunspots on the far
side of the sun."
"Planetary K-index
Now: Kp= 0 quiet"

The face of the Sun is without blemish:
http://www.spaceweather.com/images20...7rghp4or mde4

Please visit:
http://blog.nj.com/southjersey_impac...SolarCycle.jpg

The right panel shows the face of the Sun as it looked on a good day during
the late Modern Warm Period. Sunspots are the apparent size of craters on
the moon. The left panel shows a spotless Sun as it looks today.

Please write to Al Gore so that Al knows that the Sun is not living up to
his religious expectations. Al Gore is a divinity school dropout. George
Carlin had a better grasp of the true nature of God's creation, than does Al
Gore.

Please visit:
http://www.co-intelligence.org/newsl...es/sun-etc.jpg
which shows the relative sizes of the Sun and planets. Compared to the Sun,
Jupiter is the size of a pea, earth is the size of a grain of sand.

Global stock markets dive on financial fears
7 hours ago

NEW YORK (AFP) - Global stock markets plunged Monday, hammered by fresh
fears over the fate of some of the world's biggest financial companies in
the midst of a spreading economic crisis.

News that the US government had rescued insurer American International Group
(AIG) again, with 30 billion dollars, to stave off its collapse, drove the
US market to 12-year lows.

European markets were roiled by a startling announcement by British banking
giant HSBC that it needs billions in new capital to cope with the financial
crisis.

The euro weakened after European Union leaders at an emergency summit in
Brussels Sunday ruled out a broad bailout package for the Eastern European
states, saying any help should be tailored on a case-by-case basis.

On Wall Street, stocks took a ferocious beating as investors appeared to
dump nearly the entire market.

"Market participants seem to be selling indiscriminately," said Briefing.com
analysts.

The Dow Jones Industrial Average skidded 299.64 points (4.24 percent) to
close at 6,763.29, its first close below 7,000 points and the weakest since
April 1997.

The broad-market Standard & Poor's 500 index sank 34.27 points (4.66
percent) to 700.82, its lowest close since late 1996.

The Nasdaq fell 54.99 points (3.99 percent) to 1,322.85, capping a
calamitous session for global markets.

Market action came after the US government unveiled the fresh aid plan AIG,
which announced a quarterly loss of 61.7 billion dollars -- the biggest ever
for a US firm in one quarter -- pushing up its net loss for 2008 to 99.3
billion dollars.

The company had been the world's biggest insurer before being hit with huge
losses linked to the collapse of the US real estate market and the economic
downturn.

"The market doesn't like it because it shows how immersed the government has
become in managing a controlled burn of this zombie organization that is
considered too systemically important to die of natural causes," said
Patrick O'Hare at Briefing.com.

Adding to the bearish sentiment was the news that HSBC would seek a huge
capital injection to survive the global economic crisis.

HSBC revealed that it needs nearly 18 billion dollars of new capital to
withstand the financial crisis and announced 6,100 job cuts after a profits
collapse.

The bank reported a 70 percent plunge in annual net profit last year and
said it hoped to raise 12.5 billion pounds (17.8 billion dollars, 14.2
billion euros) in a record British rights issue.

Dealers said the news on AIG and HSBC seemed to be the final straw for many
investors, especially given the British-based bank's reputation for
financial probity and caution, highlighted by its refusal to take government
rescue funding.

"It's another bloodbath with equity markets across the globe in a state of
panic," said Jimmy Yates, head of equities at CMC Markets.

Dealers said investors have no confidence that the AIG bailout or the HSBC
cash call will really work so it was no surprise to see the markets falling.

"Just as with AIG, the (HSBC share) offering provides investors with no
clarity and no confidence that financial institutions are done raising
capital," said Chris Lafakis at Economy.com.

Figures on Friday showing the US economy contracted 6.2 percent in the
fourth quarter -- much worse than the initial estimate of 5.4 percent -- had
already set the markets up for a bad performance on Monday.

In London, the London, the FTSE 100 index of leading shares lost 5.33
percent to 3.625,83 , its worst finish since March 2003.

In Frankfurt, the DAX fell 3.48 percent at 3,710.07 and in Paris the CAC 40
tumbled 4.48 percent to 2,581.46, another six-year low.

Elsewhere, the Toronto S&P/TSX index tumbled 5.36 percent after news of a
deepening economic contraction in Canada. Brazil's Bovespa followed other
markets lower with a 5.09 percent dive.

In Asia, Tokyo lost 3.81 percent, Hong Kong shed 3.9 percent and Sydney fell
2.8 percent, with all the banks under pressure.

A plunge in Japanese new vehicle sales and a record contraction in factory
output in South Korea added to worries about the region's economic downturn
as consumer demand slumps in recession-hit Western markets.


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