This page has been archived and commenting is disabled.

Nikkei Flash Crash - Futures Plummet 16% As All Hell Breaks Loose In Japan

Tyler Durden's picture


All hell is currently breaking loose following an explosion at reactor #2 and a another hydrogen explosion at reactor #4 per Kyodo, leading to a 16% drop in Nikkei futures as blind panic grips Japan. Kyodo essentially confirms there was a reactor meltdown as radiation levels at Fukushima 3 are now 400 times legal levels. And topping it all Japan's warning that all people within 30 kilometers from Fukushima should stay indoors and that the radioactive winds may reach Tokyo in as little as 8-10 hours. The BOJ has just intervened to prevent the yen from surging, as the following chart shows. Our prayers are with the people of Japan.

Tepco was down 24%, or 500 points, before a circuit breaker was invoked.

We hope our Japanese readers took our advice earlier to evacuate. If not, this is the area that needs to be vacated right now.

The absolutely worst news: NHK saying radiation up to 400mSv at Reactor #3, 100mSv at Reactor #1...That's milli... not micro, or 250 times the maximum reported prior number. Alas, we believe this means the cores have melted.


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 03/14/2011 - 23:02 | 1053499 silvertrain
silvertrain's picture


Mon, 03/14/2011 - 23:18 | 1053612 scythian empire
scythian empire's picture

so you're buying?

Mon, 03/14/2011 - 23:27 | 1053662 Fish Gone Bad
Fish Gone Bad's picture

Maybe Ravi Batra was finally right.  20 years too early, but the catastrophe in Japan appears to be correct.

For those who want to bone up on Batra's predictions:

Tue, 03/15/2011 - 00:03 | 1053915 B9K9
B9K9's picture

I recently finished re-reading the Dickens classic, The Old Curiosity Shop. If space monkeys recall, the elderly grandfather was gambling with borrowed money in a last ditch attempt towards generating endowment funds for his grand-daugher.

In many ways, Bernanke is like the grandfather. He knew back in 2008 that he had at most 2-3 years to pimp expectations. That's really all the time he had while waiting for some technological breakthrough or global cultural movement (mania) to get morts once again signing debt peonage papers.

But, like all classic Dickensian characters, time runs out - in truth, the odds were always against them. So now here it comes, all the bad news/events which have been suppressed & have built up pressure are ready to blow.

When this is over sometime in the distant future, the 2007-2011 period will seem like the dreamlike pre-WWI Belle Époque.

Tue, 03/15/2011 - 00:26 | 1054067 Michael
Michael's picture

The mood completely change when reactor 2 blew up and results came in. Sounds like they are beginning to try to tell the truth on TV. You can hear it in their voice, as if it is getting more and more difficult for them to lie.

Before the collapse of the USA and world economies builds up to final detonation, let me make it perfectly clear before they blame it on the Japanese earthquake and nuclear disasters.

The USA would have had no problem dealing with this tragedy if we were not 14 trillion dollars in debt and had not huge unfunded liabilities on every level!

As I said before, the huge national debt of the US is a direct threat to our national security and now that threat is going to be played out.

End the Fucking Federal Reserve Corporation as soon as possible!

Tue, 03/15/2011 - 00:52 | 1054234 Xkwisetly Paneful
Xkwisetly Paneful's picture

Cannot wait for Jones' take on all of this.

Who was behind it, certainly not a "natural" disaster that is so cliche in your world?


Maybe the Zionistas again or those evil banksters?



Tue, 03/15/2011 - 00:53 | 1054248 Ident 7777 economy
Ident 7777 economy's picture

More disinfo (not ALL of it; you have to have some 'truth' in 'it')?

Which 'branch' did you say you were from (who pays you)?

Tue, 03/15/2011 - 01:53 | 1054466 Michael
Michael's picture

Resistance is futile.

Tue, 03/15/2011 - 03:58 | 1054635 Confused
Confused's picture

The "who pays you" line is becoming the de facto way to try and discredit someone with differing view points. 


Which is amusing coming from someone who has only been here for 3 weeks. 

Tue, 03/15/2011 - 04:41 | 1054654 Xkwisetly Paneful
Xkwisetly Paneful's picture

As if tenure and credibility go hand in hand, this is not a public union. THe cyber blow jobs from fellow moronista conspiracy doomsday self loathing neo marxists and/or anarchists are big street cred around here though.


The scary thing is the lack of realization how not novel any of it is. How the same was shouted from the rooftops of the time in both the 70's and 80's to no avail nor doomsday.

But it makes for entertaining delusional paranoia at it's finest.

Tue, 03/15/2011 - 05:41 | 1054691 Confused
Confused's picture

I am merely pointing out that ad hominem attacks are becoming the default method of countering differing opinions.


Of course, tenure and credibility do not go hand in hand. But it IS amusing given the context of the accusation. 


Tue, 03/15/2011 - 07:15 | 1054758 DaBernank
DaBernank's picture

ad-hominem, shmad-hominem...BTFD!

Tue, 03/15/2011 - 07:25 | 1054769 Al Gorerhythm
Al Gorerhythm's picture

Here's another one with deep normalcy bias. He'll get it eventually, or not.

Tue, 03/15/2011 - 07:11 | 1054747 Blano
Blano's picture

Since I've been here longer than 3 weeks, blow it out your ass.

Tue, 03/15/2011 - 07:27 | 1054770 Confused
Confused's picture

 I'll take it under advisement. 

Tue, 03/15/2011 - 02:41 | 1054545 Michael
Michael's picture

Welcome to a vision of your future;

ALERT: Patriot Raided by SWAT Under Patriot Act


Tue, 03/15/2011 - 05:03 | 1054669 Al89
Al89's picture

Predicting a catastrophe of some kind in a country with as many tectonic plates intersecting underneath/near it as Japan.

High-5 Ravi Batra, who would have thought it possible.

Tue, 03/15/2011 - 06:14 | 1054705 Crummy
Crummy's picture

The way they built all of their sky scrapers to resist a major earthquake, they had to have consulted an astrologist or a psychic of some kind, right?


Aliens told them how...

Mon, 03/14/2011 - 23:29 | 1053669 DoChenRollingBearing
DoChenRollingBearing's picture

Is the Nikkei even trading today?  Article above said futures -16%.

Another nice thing about ZH, I can ask questions like the above and get a good response from the smart gene pool of people here...

If it is just futures trading (like on tomorrow's open, whatever), there is plenty of time for the EE and PPT to step in.

Mon, 03/14/2011 - 23:50 | 1053823 aint no fortuna...
aint no fortunate son's picture

Cash markets are all trading - look at Hang Seng down 800+, Taiwan down 300 last I looked

Japan always shuts down at 10:28 for awhile - its gonna shit the bed when it reopens because they say Reactor #4 is on fire now and there is in all likelihood a leak in the #2 container vessel

Mon, 03/14/2011 - 23:51 | 1053847 aint no fortuna...
aint no fortunate son's picture

Japan just reopened - down 800

India just opened down 400 out of the gate

U.S. futures down 210+

Tue, 03/15/2011 - 00:15 | 1053997 aint no fortuna...
aint no fortunate son's picture

Fucking Japan's down 1200+  do they have circuit breakers that will shut them down?

Tue, 03/15/2011 - 00:20 | 1054035 DoChenRollingBearing
DoChenRollingBearing's picture

Thanks aint!  More proof that ZH is THE place to observe events...

My third home...

Tue, 03/15/2011 - 00:22 | 1054025 aint no fortuna...
aint no fortunate son's picture

This is becoming a monster liquidity sucking machine

Tue, 03/15/2011 - 00:33 | 1054112 aint no fortuna...
aint no fortunate son's picture

As incredible as down 1370 is in Japan, Hang Sen down 900 and Taiwan down 435 say the meltdown of the 3rd largest economy in the whole world is gonna set off a chain reaction of selling as the entire linkage/corellation meme works just as hard on the downside as on the upside.

Oil's getting whacked despite continued fears about Bahrain and the rest of the ME.

So fuck you bernank you motherfucker - inflate your way out of this shit. You notice what the EURUSD's doing tonight you middle class murdering POS??

Tue, 03/15/2011 - 00:59 | 1054261 aint no fortuna...
aint no fortunate son's picture

Watch this EURUSD chart tomorrow a.m. I will bet you the Euro spikes at exactly 3:30 +/- 15 minutes eastern time to over 1.40 on a massive dollar selling spree by the bernank. He'll be buying EURO's hand over fist.

Dow futures down 275 tonight will be flat by 8:30 a.m. eastern premarket when he gets done with his manipulation.

Anyone care to place a wager?

Tue, 03/15/2011 - 01:05 | 1054296 mophead
mophead's picture

Hear hear, y'all. It has been predicted, the markets will crash once again. Once we take out 1220 SPX, then 1180, it's a done deal. I'm not 100% convinced, but the prediction is playing out nicely (or badly). Though expect a bounce from 1180 to around 1220, then vroom, straight down to 750-800 SPX (taking out 1050 like a hot knife through butter). If that happens, we WILL see DOW 6000 for sure. Though possibly 5000-3000. The source says, paraphrasing, "you will not care about the stock market when it crashes".

Tue, 03/15/2011 - 00:05 | 1053924 Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

If the containment vessels are fried, its a gonner, as in meltdown

Tue, 03/15/2011 - 04:07 | 1054623 zhandax
zhandax's picture

Let's hope they can still pump salt water.

Tue, 03/15/2011 - 00:02 | 1053904 TemporalFlashback
TemporalFlashback's picture

The headline above is referencing the Nikkei 225 Futures. Said contract trades nearly 24hr/day with a daily 30min break; however, as the other replies correctly point out, the markets are open, and I think there is about 1.5hrs left in todays post-lunch session (could be wrong).

Mon, 03/14/2011 - 23:30 | 1053694 silvertrain
silvertrain's picture

 No, but I would recommend Lumber futures...Or wait for the market in Cairo to reopen when ever that is..

Mon, 03/14/2011 - 23:42 | 1053768 prophet
prophet's picture

Will nibble at DFJ at 30

Mon, 03/14/2011 - 23:34 | 1053704 Korg
Korg's picture

More likely the birth of a new Japan. This apocalypse should finally get the japanese in gear to have a revolution in their arthritic govt. Yeah it's gonna be hell for awhile but they might turn lemons into lemonade. Compare the character of the Japanese during this to us Americans during katrina.....night and day. And yet, the USA is going to go through their own apocalypse soon so just think what will happen...katrina times 1000...make the civil war look tame.

Mon, 03/14/2011 - 23:37 | 1053732 Missing_Link
Missing_Link's picture

I agree.

We are far more deserving of this kind of catastrophe than the Japanese.

Mon, 03/14/2011 - 23:50 | 1053833 Bananamerican
Bananamerican's picture


Deservin's got nothing to do with it.”

Mon, 03/14/2011 - 23:54 | 1053860 Boilermaker
Boilermaker's picture

Quite possibly the most douche bag piece-of-shit comment in history.

Tue, 03/15/2011 - 00:04 | 1053923 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

What banana and boiler said...

Tue, 03/15/2011 - 08:49 | 1055017 SteveNYC
SteveNYC's picture

There is no "deserve" or "not deserve", none. Nature/the universe does not discriminate, it just "is". Given the level of brainwashing, distraction, and general lack of any real consciousness in today's world, events like this are a powerful reminder that we live on a deminimus sized rock, circling a relatively massive but ultimately equally deminimus-sized star, amidst that which is empty and infinite. We can choose to bury our heads in the sand, or embrace our impermance and free ourselves.

My heart goes out to the Japanese and the ex-pats in Japan. I believe Japanese society and cohesion will overcome this series of events.

Tue, 03/15/2011 - 00:24 | 1053928 Michael
Michael's picture


Tue, 03/15/2011 - 00:25 | 1054057 DoChenRollingBearing
DoChenRollingBearing's picture

+ $1400

Or would that be + $1390 now?  $1380?

Tue, 03/15/2011 - 00:26 | 1054075 Michael
Michael's picture

Thanks, I moved the comment up for maximum consumption.

Mon, 03/14/2011 - 23:43 | 1053762 Korg
Korg's picture

Nikkei just dropped over 400pts in 30min. Its on like Donkey Kong.

Mon, 03/14/2011 - 23:44 | 1053774 Korg
Korg's picture

I mean futures hell! the index might go below 16% today!

Tue, 03/15/2011 - 03:22 | 1054594 Hacksaw
Hacksaw's picture


Tue, 03/15/2011 - 06:41 | 1054720 sushi
sushi's picture
  1. 1000: A Japanese nuclear safety official has confirmed reports that the water inside the waste fuel storage pool for the number 4 Fukushima reactor may be boiling, AP reports. Hidehiko Nishiyama refused to comment on the potential risks from the rising temperatures caused by a failure of cooling systems and said the plant's operator was considering what to do about the problem.
  2. 0935: Japan's nuclear safety agency has said there are two holes of 8 sq m (86 sq feet) in a wall of the outer building of the number 4 reactor after an explosion there, Reuters reports.



Unit 4 is the one that had a reported fire in the SFP. This is the first known report of that unit also having suffered an explosion.

If the water in the SFP is now boiling then it will eventually evaporate the full 40 ft x 40 ft x 20 ft SFP, the fuel bundles will be exposed to the atmosphere and H2 will be liberated as the cladding oxidizes and the result will be either a fire or an explosion.


Mon, 03/14/2011 - 23:03 | 1053500 bugs_
bugs_'s picture

don't buy till it goes sky high

Mon, 03/14/2011 - 23:04 | 1053501 SignsAndWonders
SignsAndWonders's picture

Started to post something snarky, but stopped half way.  My heart goes out to Japan.  This is surreal.

Mon, 03/14/2011 - 23:06 | 1053522 whatsinaname
whatsinaname's picture

Just for once, I am not going to enjoy being short even though I have had my brains warped by the 2 year bull run !!


Mon, 03/14/2011 - 23:11 | 1053557 John Law Lives
John Law Lives's picture

Don't forget the $2.7 Trillion in federal deficit spending in FY2009 and FY2010 and untold trillions of US dollars being created by The Fed that came with that "2 year bull run".  The market may (or may not) run out of steam this year, but we have a projected $1.65 Trillion budget deficit for FY2011 coming.  All in all, I'd say it was a bad deal.  Far more people are hurting from inflation than those who gained from the stock market rise.

Mon, 03/14/2011 - 23:16 | 1053598 rocker
rocker's picture

I think the real Black Swan has just blown in.  I told Robo I am short the KBE. Also short eight different triple ETFs. If this is not the time. It will never be. 

Mon, 03/14/2011 - 23:29 | 1053681 Fish Gone Bad
Fish Gone Bad's picture

This looks like the time.  I am thinking that even our Federal Reserve can't buy the world.  Good luck with your shorts.

Tue, 03/15/2011 - 04:30 | 1054656 Tapeworm
Tapeworm's picture

The first Black Swan was the vendor in Tunisia that immolated himself because the goomint hacks wouldn't allow himself to work or even take care of his family.

This wreck is just a pyramiding of yet more hack work and corruption of governments. TEPCO had all of the pols lined up to license a string of nukes on the beach in the land that gave us the word, "tsunami". The underlings of the Japan Defense Force are doing whatever they can to mitigate some of the decisions of the sake partiers of forty years ago. I wonder just how much damage the overarching political racketeers of Japan have sustained with their lying incompetence that is now as naked as the fuel cores on the reactors.

Mon, 03/14/2011 - 23:06 | 1053532 silvertrain
silvertrain's picture

+1  I caught myself also..No Joke right now..

Mon, 03/14/2011 - 23:18 | 1053616 43 Steelie
43 Steelie's picture

Fully agree. Not a time to be snarky at all.

But what I'm not looking forward to is this black swan being blamed for the fallout that is going to finally occur in US markets. 

You know the next FOMC minutes will have the word "Japan" in them at least 3 or 4 times.


Mon, 03/14/2011 - 23:30 | 1053678 Lazarus Long
Lazarus Long's picture

me too can't sleep on the verge off tears

Mon, 03/14/2011 - 23:33 | 1053711 whatsinaname
whatsinaname's picture

SHTF when reporter on NHK uses words - "its really scary"

Mon, 03/14/2011 - 23:42 | 1053753 sodbuster
sodbuster's picture

I was thinking of those brave men working at those reactors- in all reality, they are probably making the ultimate sacrifice to put the nuclear genie back in the bottle. They are everyday heroes.

Mon, 03/14/2011 - 23:56 | 1053884 Founders Keeper
Founders Keeper's picture



Tue, 03/15/2011 - 00:52 | 1054222 Pool Shark
Pool Shark's picture

True heroes...

Tue, 03/15/2011 - 00:52 | 1054236 Dirt Rat
Dirt Rat's picture

It's the same attitude that produced the kamikazes, who were willing to die for honor and country. The Japanese are some of the most awesome people on earth, I think. I would rather have them as my friends than have them as my enemies. My heart goes out to them.

Tue, 03/15/2011 - 03:05 | 1054577 JoeSexPack
JoeSexPack's picture

Samurai spirit is keeping them going, when they know both the cause & their lives are lost.


Mon, 03/14/2011 - 23:05 | 1053509 John Law Lives
John Law Lives's picture

Wow.  This is a nightmare scenario.

I wonder if The Ben Bernank will start pumping S&P futures?

Mon, 03/14/2011 - 23:07 | 1053531 HamyWanger
HamyWanger's picture

It has already begun. 

Nikkei futures : -12.09%

DOW futures : -1.45% 

Nearly a factor 10, which is of course ridiculous, but this is what happens when a market is entirely controlled by the PDs. 

Mon, 03/14/2011 - 23:19 | 1053613 MsCreant
MsCreant's picture

No ham in your sandwich. Peace Bro.

Mon, 03/14/2011 - 23:44 | 1053781 disabledvet
disabledvet's picture

that ain't nothin BUT ham....and cheeeese....:)

Tue, 03/15/2011 - 00:52 | 1054219 MsCreant
MsCreant's picture

Am I allowed to cry and laugh at that?

Mon, 03/14/2011 - 23:04 | 1053511 Zeilschip
Zeilschip's picture

Reactor 4 fire apparently put out now..

Mon, 03/14/2011 - 23:17 | 1053594 sushi
sushi's picture

But the radiation reaches Tokyo.

  1. 0306: Winds over the stricken nuclear plant are blowing slowly towards the Kanto region, which includes Tokyo, Reuters reports.
Tue, 03/15/2011 - 00:14 | 1053979 sushi
sushi's picture

A French Embassy statement warned radiation could reach Tokyo within 10 hours.

That would be about the time of the NY open.

Mon, 03/14/2011 - 23:31 | 1053693 Lazarus Long
Lazarus Long's picture

yes i flagged you way out of line

Mon, 03/14/2011 - 23:36 | 1053724 Korg
Korg's picture

12/7/1941 was way outta line....

Mon, 03/14/2011 - 23:41 | 1053754 CPL
CPL's picture

So was 1492, the year that sea pirates showed up and raped the real Americans.


How's that for pithy you dumbfuck hipster piece of shit.  Get your man purse, your horn rim granny glasses and that fag scarf and hit brix bitch.

Tue, 03/15/2011 - 00:44 | 1054175 redguard
redguard's picture


Tue, 03/15/2011 - 07:25 | 1054768 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

"How's that for pithy you dumbfuck hipster piece of shit. Get your man purse, your horn rim granny glasses and that fag scarf and hit brix bitch."

Lolz. Impressive.

Tue, 03/15/2011 - 12:40 | 1056113 Cachao
Cachao's picture

by "real Americans", you mean the tribes that migrated to America from Asia?

Mon, 03/14/2011 - 23:43 | 1053765 silvertrain
silvertrain's picture

 They warned us that they were comming..

Mon, 03/14/2011 - 23:53 | 1053861 BigJim
BigJim's picture

12/7/1941 was way outta line....

70 years not long enough for you, fuckwit?

Tue, 03/15/2011 - 00:38 | 1054142 Michael
Michael's picture

Korg, you are my actual first junk asshole.

Tue, 03/15/2011 - 02:10 | 1054505 dogbreath
dogbreath's picture


you fuck ass.  on a site respected for its intelligence, argueably most of the time, that has to be the dumbest post I have ever read here.  You are now the dumbest fuckass poster to have ever posted on ZH.


I am dogbreath

Tue, 03/15/2011 - 02:17 | 1054514 reader2010
reader2010's picture

don't you know that 12/7/1941 event was engineered by the elite? go read the real history.

Tue, 03/15/2011 - 04:20 | 1054649 Confused
Confused's picture

This comment is way out of line. 

Mon, 03/14/2011 - 23:49 | 1053814 Korg
Korg's picture

Oh think the JPM and Goldmanites aren't buying japan on the cheap right now!!! Get real, they invented this crap. Have their Media hype the living shit outta this now....and then next week nothing.

Tue, 03/15/2011 - 01:15 | 1054363 barkster
barkster's picture

or were they short beforehand and just waiting to cover shorts at some point?

Tue, 03/15/2011 - 03:56 | 1054633 James
James's picture

This site thinks of JPM and GOLDMAN in the same vein we think of you Korg

Tue, 03/15/2011 - 00:02 | 1053911 Blues Traveler
Blues Traveler's picture

I dont have time to write a short succinct reply, so fuck you.

Mon, 03/14/2011 - 23:05 | 1053515 HamyWanger
HamyWanger's picture

I wouldn't worry about it. It's probably a display error. 

Mon, 03/14/2011 - 23:30 | 1053684 Trimmed Hedge
Trimmed Hedge's picture

Damn you, Waddell & Reed!!

Mon, 03/14/2011 - 23:08 | 1053516 Boilermaker
Boilermaker's picture

This is some serious Jurassic Park level fucked up shit!

No kidding, this is way way way worse than anyone could have dreamed up.

Mon, 03/14/2011 - 23:27 | 1053666 Mad Max
Mad Max's picture

I envy your extremely inactive imagination.

Mon, 03/14/2011 - 23:50 | 1053819 Boilermaker
Boilermaker's picture

I'm sure you do.

Mon, 03/14/2011 - 23:49 | 1053820 farragut
farragut's picture

Sheepishly admitting I LOL'd at your pithy reply.

In all seriousness, my deepest sympathies to the Nipponese people.

Mon, 03/14/2011 - 23:06 | 1053521 silvertrain
silvertrain's picture

 Absolutely horrible...Prayers to all Japan..


Mon, 03/14/2011 - 23:05 | 1053528 Douglasnew
Douglasnew's picture

The human and environmental toll is tragic. In the end, it's not about the Nikkei, The Dow or the price of Gold. That said, it may soon become once again, about the price of Oil.

Tue, 03/15/2011 - 00:02 | 1053901 Bananamerican
Bananamerican's picture

this Turning seems to be about the Bankers and Mother Nature...caught between the Devils and the deep blue sea

Mon, 03/14/2011 - 23:06 | 1053530 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Holy sh*t! The robots have gone mad!!!! It is time to unplug the Terminators.

Mon, 03/14/2011 - 23:14 | 1053583 duo
duo's picture

Wouldn't they close the Nikkei so everyone can GTFO of Tokyo?

Mon, 03/14/2011 - 23:20 | 1053618 John Law Lives
John Law Lives's picture

If the winds are blowing towards Tokyo, you would think they would evacuate.

The government is really going to have a hard time restoring any sense of credibility if this is as bad as it sounds.

Mon, 03/14/2011 - 23:31 | 1053688 Monetary Lapse ...
Monetary Lapse of Reason's picture

You beat me to the punch.... having been to Tokyo many times... um... there is no way.  

Mon, 03/14/2011 - 23:24 | 1053649 Dr. Porkchop
Dr. Porkchop's picture

There's 13 million in tokyo... It cant be done

Tue, 03/15/2011 - 00:39 | 1054152 steve2241
Mon, 03/14/2011 - 23:24 | 1053643 scythian empire
scythian empire's picture

Wait till the full impact from the zone makes its way over to China.  This is going to tank the whole region.  Empty out your emerging market fund, friend-O.

Mon, 03/14/2011 - 23:44 | 1053776 duo
duo's picture

As the low pressure spins up north of Japan, winds will be strong out to sea for a couple of days.  Good for China, Hawaii, not so much.

Tue, 03/15/2011 - 08:18 | 1054902 sethstorm
sethstorm's picture

Let it tank China.

Perhaps they can eat some humble pie.

Mon, 03/14/2011 - 23:07 | 1053537 bankonzhongguo
bankonzhongguo's picture

Here is a little something something.

Take it with a grain of salt, er iodide.

Mon, 03/14/2011 - 23:54 | 1053832 Dantzler
Dantzler's picture

Or a 55 lb. sack of rock salt -- I call BS!

from UW (Seattle) Atmos Sci Dept.

Science, not sensationalism!

That said, my heart goes out to the people of Japan.

Mon, 03/14/2011 - 23:07 | 1053539 Korg
Korg's picture

On a serious note...this has gotta be the goddamn biggest black swan ever! Japan is basically gonna go offline for awhile, not good. How's the derivative market gonna handle this?? We are fucked. This is the start of a chain of VERY bad events and that's without the ME going batshit! This is it....

Mon, 03/14/2011 - 23:10 | 1053548 Boilermaker
Boilermaker's picture

How about insurance and re-insurance...

Give me a break, this is mega-fucked.

CDS contracts on Japan?  Domino effect>>>WTF?

Mon, 03/14/2011 - 23:12 | 1053570 HamyWanger
HamyWanger's picture

I wouldn't worry about it. The BoJ and the FED will continue to monetize the losses, and it will be like nothing happened. 

Mon, 03/14/2011 - 23:20 | 1053622 Glass Steagall
Glass Steagall's picture

What choice do they have..

Mon, 03/14/2011 - 23:25 | 1053647 Korg
Korg's picture

the fed can't monetize 3 Goddamm Nukler Reactors Blowing up!!!!!!

Mon, 03/14/2011 - 23:32 | 1053698 RockyRacoon
RockyRacoon's picture

Looks as if 5 or so huge financial firms can do about the same damage to an economy, so, why not?

Tue, 03/15/2011 - 00:41 | 1054166 CrazyCooter
CrazyCooter's picture

Um, tarp was 700B, over four times the total estimated damage to Japan so far (tsunami related) ... well that was before these reactors started really going downhill.


Mon, 03/14/2011 - 23:31 | 1053692 RockyRacoon
RockyRacoon's picture

Choice:  Don't.

Mon, 03/14/2011 - 23:29 | 1053668 Fearless Rick
Fearless Rick's picture

Seriously, Hamy, just exactly when was your lobotomy?

Mon, 03/14/2011 - 23:23 | 1053634 Bay of Pigs
Bay of Pigs's picture

You'd think the Bernank/PPT has finally met its match with this horrific looking scenario. 

This shit is off the hook crazy...

Mon, 03/14/2011 - 23:35 | 1053675 Zero Govt
Zero Govt's picture

let me repeat Gentlemen....

...the Fed cannot even reflate the mortgages and MBS's on its own balance sheet. There is zero chance anyone including the Bank of Japan can keep stock prices inflated.

Why? Because an assets/stocks price takes a buyer and a seller. The Fed and BoJ can buy as many assets as these dimwits like, but nobody is going to buy them. Nobody wants to catch a falling knife. That's why the Fed, PPT, ECB and BoJ cannot 'support' falling asset prices (the BoJ have been trying, and failing, for 20 years). The BoJ's $200bn is going straight down the toilet.

Are we crystal clear?

Mon, 03/14/2011 - 23:45 | 1053784 CPL
CPL's picture

It's called fighting large numbers like infinity.

Mon, 03/14/2011 - 23:47 | 1053807 disabledvet
disabledvet's picture

only junked by one?  must have been Kudlow...

Mon, 03/14/2011 - 23:31 | 1053699 John Law Lives
John Law Lives's picture

The Ben Bernank made things worse in the world with all his money printing.  He helped force the cost of living higher for people all over the world, and now the world's 3rd largest national economy will be somewhat paralyzed by this ongoing disaster.  Some of the root problems that led to the riots in MENA (e.g. surging food costs etc.) did not go away, and printing more $$$ will only make things worse.

Tue, 03/15/2011 - 06:41 | 1054711 Zero Govt
Zero Govt's picture

CORRECTION : the BoJ are pumping $80bn in to 'support' stocks etc, not $200bn as i mentioned above.

Nikkei down -6% yesterday, -10% today... how is the BoJ's $80bn 'support' doing? Very predictably, absolute crap. Because no private buyer is going to 'support' (buy) falling asset prices at the price BoJ would like to see supported.

This is what the retards of the public sector do not understand. You cannot 'support' prices because you still need a buyer, from the BoJ, to buy at an agreed price. Nobody is going to buy stocks at the BoJ's fantasy price nor buy the Feds crumbling MBS's or mortgages at what they value them on their balance sheet.

So the BoJ are compounding one dumb decision to support falling stock prices on top of 2 already dumb Japanese Govt decisions, to build extortionately expensive nuclear stations and to site them on a coastal region in the 'flight path' of a known high risk tsunami zone.

So the BoJ are pissing another $80bn down the toilet on top of the ongoing extra costs of expensive nuclear power for the past 40 years, on top of another dumb decision to site the plants on the coast! The estimated cost of these serial Govt fuk-ups is $1 Trillion and the BoJ are throwing another $80bn down the toilet as well. Genius!

The dumb (of Govt) just get dumber

Mon, 03/14/2011 - 23:38 | 1053713 Unlawful Justice
Unlawful Justice's picture

Chain reaction.  Everything is connected.

Tue, 03/15/2011 - 00:57 | 1054266 Attitude_Check
Attitude_Check's picture

How much has the asset values of Japanese banks just dumped - into the ocean?  Can't help but go bust, which will ripple around the world.  As bad as the economic impact of this could be internationally, it pales in comparison to what the people of Japan are going through. Economic disaster is not even 2nd on their list of concerns I suspect.

As bad as this this may be for the rest of the world -- MAYBE some small bit of good can come from it, if this finally crashes the destructive Ponzi-speculatin' banks and their CB enablers.  A new world economic reset COULD be a good thing (although painful)

Tue, 03/15/2011 - 03:39 | 1054615 They_Live
They_Live's picture

Swanzilla. Have told my brother it's time to get out of Tokyo and come home.

Mon, 03/14/2011 - 23:10 | 1053540 Mae Kadoodie
Mae Kadoodie's picture

Incredible.  You think you've seen it all.

Mon, 03/14/2011 - 23:09 | 1053542 sbenard
sbenard's picture

Wow, check out the Yen!

And stocks are in major meltdown mode -- and I'm not talking about nuclear energy, either!

Mon, 03/14/2011 - 23:44 | 1053772 M2Market
M2Market's picture

May the grace of God pull Japan out of this one.... The scariest thing is nobody can tell what the real fallout of this one is going to be.  Does anyone know if these yen interventions are sterilized or not?  A sudden liquidity vacuum can send the BTFD crowd scrambling for exits.  No amount of money printing can print away the radioactive fumes that hovers over one of the largest financial center of the world.  Oh God please don't let it get out of hand.... 

Tue, 03/15/2011 - 00:21 | 1054019 Al Gorerhythm
Al Gorerhythm's picture

Pascal's Wager, anyone?

Any one want to talk to God about now?

Yes? You there at the back. Come on up on the stage.

Now, what's your name son?

"Ben Bernanke".


Mon, 03/14/2011 - 23:09 | 1053546 randocalrissian
randocalrissian's picture

And then you realize there's no POMO on the Ides of March.  Enjoy.

Mon, 03/14/2011 - 23:14 | 1053588 Misean
Misean's picture

The Bernanke isn't appearing before the Senate tomorrow, is he?

Mon, 03/14/2011 - 23:31 | 1053700 franzpick
franzpick's picture

I'm sure he has many times appeared for surrepticiously "planned" congressional events, that were probably organized the night before, under emergency circumstances, as lipstick-the-pig pep talks, and if he shows up tomorrow for some (previously unannounced) 'Spring Equinoctial Finance Lecture', I won't be surprised.

Mon, 03/14/2011 - 23:35 | 1053714 ziggy59
ziggy59's picture


bernank is meeting his fellow cling-ons tuesday

Mon, 03/14/2011 - 23:15 | 1053591 Cognitive Dissonance
Cognitive Dissonance's picture

Well............because they're making shit up on the fly, along with the rules, they could always pull a rabbit out of their hat and produce a super duper extra large with a cherry on top emergency POMO tomorrow.

He who has the Gold power makes the rules.

Mon, 03/14/2011 - 23:24 | 1053638 trav7777
trav7777's picture

I agree...intervention risk is higher than the radiation levels at bldg #2 right now.

If the US market tanks like the N225, expect basically global financial meltdown part 2.

i am honestly surprised that the JCB has not started buying the N225

Mon, 03/14/2011 - 23:29 | 1053687 Fearless Rick
Fearless Rick's picture

But there's no cause for concern, now is there, Trav?

You're nothing but a fucking cunt with a beard.

Mon, 03/14/2011 - 23:38 | 1053740 InconvenientCou...
InconvenientCounterParty's picture

cause their either glued to NHK or gone

Mon, 03/14/2011 - 23:51 | 1053828 disabledvet
disabledvet's picture

wow.  u two in agreement.  crisis indeed.

Mon, 03/14/2011 - 23:51 | 1053848 nonclaim
nonclaim's picture

And dollar swap lines for all.

Mon, 03/14/2011 - 23:13 | 1053568 BigJim
BigJim's picture

You're worried about your financial future?

Mon, 03/14/2011 - 23:29 | 1053680 Mad Max
Mad Max's picture

Did someone give every naive day-trader at Seeking Beta errr I mean "Seeking Alpha" a free pass to post here on ZH?

Mon, 03/14/2011 - 23:30 | 1053689 Dan Watie
Dan Watie's picture

Did you wander here from CNBC?

Mon, 03/14/2011 - 23:44 | 1053766 Cognitive Dissonance
Cognitive Dissonance's picture

Sometimes the ZH black hole gravitational force is irresistible to passers by.

Unfortunately the feet arrive well before the brain. I call it ZH string theory, conspiracy division.

Mon, 03/14/2011 - 23:56 | 1053879 farragut
farragut's picture

gotta be Larry Kudlow in disguise....

Tue, 03/15/2011 - 00:45 | 1054188 LudwigVon
LudwigVon's picture

at least his favorite president was Coolidge

Mon, 03/14/2011 - 23:53 | 1053858 disabledvet
disabledvet's picture

actually and...strangely actually because i hate money...i am cash flow positive and remain bullish.  i don't know what else to say other than..."it is true."...."everything."

Tue, 03/15/2011 - 00:36 | 1054138 chindit13
chindit13's picture

Please put a full tablespoon of wasabi in your mouth, then wrap your face with duct tape and turn your head into a containment vessel.

Tue, 03/15/2011 - 00:50 | 1054217 Yits and the Yimrum
Yits and the Yimrum's picture


some people can never give it a rest, even for a second

Tue, 03/15/2011 - 01:00 | 1054282 MsCreant
MsCreant's picture

I was #47. Three more before you disappear. I hope there is a wakeup call for you in this.

Mon, 03/14/2011 - 23:17 | 1053552 silvertrain
silvertrain's picture

dbl post, sorry...

Do NOT follow this link or you will be banned from the site!