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Bloomberg Ignores Major Stock Market Fall in Europe
By DoctoRx of the Daily Capitalist, on September 5th, 2011
Stock markets fell very hard in Europe today, but if even Bloomberg.com doesn’t mention it, does that mean it did not happen or does not matter?
The Stoxx 50 index was down over 5%, as was the German DAX. Yet the “Top News” headlines on Bloomberg as I write this are, in order:
Obama Addresses Union Labor Day Rally;
Darwin Effect Cuts Photo-Voltaic Panel Prices;
Articles on Harvard v Cambridge and how the strong NZ dollar is straining the finances of attendees at a world rugby tournament there;
An op-ed specifically addressed to Rick Perry expressing the POV that Social Security is not a Ponzi scheme;
(FINALLY)
European stocks drop on Merkel Election Loss
(Later, there is a headline announcing the Italian bank stocks plunged. No mention that the Italian stock market indices also fell about 5%.)
This neglect of a gigantic fall in the price of corporate Europe’s assets and earnings power is a bit scary. If there is any wonder as to why the alternative blogosphere is gaining readers by leaps and bounds, today’s Bloomberg shows why. The mass media in the U. S. decidedly accentuates the positive.
We at The Daily Capitalist prefer to instead accentuate the facts, and then add interpretation to them.
As we see it, the question of whether the U. S. has entered a new recession is the wrong question. We believe that the one that officially began in 2007 never ended. Inventory shifts, one-off government programs, random fluctuations of economic activity, mismeasurement of the inflation adjustment to measured GDP, etc., all came into play.
I would add that increasingly this year has the smell of 1974, 1978-9, 1998, and even perhaps 2008. Of course a great deal of what is now happening relates back to the governmental and Fed decisions of 2008, setting a bipartisan course followed by the Obama administration in 2009. To now see the government, via the FHFA, suing the same banks it and the Fed supported so vigorously in 2008 and thereafter looks discordant. Couldn’t there have been less support to reach the same result more rapidly and more smoothly?
In any case, the JPMorgan Chase analyst’s recent call for gold to hit $2500/ounce by year end - is, very unfortunately and quite amazingly, looking more plausible. As is a 1.5% ten year bond yield.
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possibly related, the turkish general who heads intelligence services in Turkey arrested today in alleged coup plot. Turkey is a hot spot, caught between NATO/ NWO, and its people who are seething with anger at Israel and U.S. for the murders carried out by the IDF on the first Gaza flotilla. getting hot out there: http://www.presstv.ir/detail/197585.html
Maybe the turks and americans should mind their own fucking business and let the israelis and arabs fight it out. I don't see the world demanding that the US southwest be returned to Mexico and if they did, we would tell them to mind their own fucking business
Don't read too much into it. Turkish army officers plot coups as a weekly hobby.
Maybe Bloomberg shares the same approach as i do, Which is who gives a fuck. Just sit down and enjoy your fucking meal.
And is completely guided by ratings. They report only what sells, and when it sells to bring in the maximum advertising dollars. We’ll probably see all sorts of panic and mayhem market stories tomorrow morning so people who are lucky enough to still have a job can burn the first hour of their day reading them on the internet and getting all fired up to work. Why waste those stories today when these same folks are all partying too hard to read or care. As for those folks who don’t have a job and can’t afford beer on this Labor Day, what better than a dose of Obama with a "hang in there and hope" speech to calm their nerves after they’ve written three more versions of their resume and sent out another dozen or so blind job applications.
Yup,
Noticed too this afternoon in Amsterdam that major news sources either ignored it or didn't pick it up until very late. NRC.nl, telegraaf.nl, and even fd.nl screamed a lot louder a week and a half ago when markets were down 3% compared to 4.5% today.
Weird.
"In any case, the JPMorgan Chase analyst’s recent call for gold to hit $2500/ounce by - is, ..."
His target date, I think, was year-end. If that happens, that analyst will have gained a lot of cred.
On Don Coxe update there was a significant focus during the Q+A on gold equities. Coxe see's no gold bubble in sight.
http://goldandsilverlinings.com/?p=1607
the cheneynomic 10 trillion dollar bomb (2000-2008) has left the cargo bay doors......just waiting for safe distance to detonation
http://www.youtube.com/watch?v=ikgRbhLChdg
0bunghole has run up more debt in 2.5 years than Bush did in 8 years. You sheeple just keep your head up 0bunghole's ass where it's nice and warm
That's because it's a geometric progression. O is just further out on the abscissa. If you don't understand math, stay away from exponentials.
sun tzu
the sounds of your own bleeting are soothing to the ear
my numbers also include the 2 trillion Rumsfeld couldn't account for when asked by McCain to explain
its whereabouts, although probably absorbed under "miscellaneous" corporate theft is still a"debt"
sorry if this is ancient history you can't recall.....sorry, what's that???............bleeeeeeeeeeeet
TO: Mon, 09/05/2011 - 20:27 | sun tzu
"0bunghole has run up more debt in 2.5 years than Bush did in 8 years"
ST, though both yomama and 'w' are political lepers as far as i'm concerned, and while recognizing that there is a big difference between 'debts' and 'deficits", in the spirit of non-partisan counterpoint, i feel that i must post the following:
http://jessescrossroadscafe.blogspot.com/2011/08/us-deficit-in-one-picture.html
Stimpy, you eeeeeediot. The bomb was lit by FDR with his creation of SS, you bliiiiiiiiithering ignorant peasant.
simply denial.
watch the dominoes fall this week. Even HFT and Benny and the InkJets can't stop it/
That would be fun to watch. Am I correctly reading DAX futures down another 5% tonight? Cool.
If you do not already realize this, it matters. Tomorrow looks like it might be one of those moments you read in a history book - All of a sudden a _______ broke out (Insert stock market collapse, war, riot, currency failure, etc.).
SARS broke out
The headlines tomorrow will certainly contain the word "unexpectedly".
If you could hear the sound of breath being held, as we await the next instalment in the ongoing drama of “Making the Euro work; a fine piece of fiction”, it would be deafening. The German election results show conclusively that la Merkel is fighting a losing battle (likely to be confirmed by the German constitutional court later this week), the IMF team have left Greece totally unconvinced that the Greeks are in any way serious about cutting their deficit and the Italian finance minister, Guilio Tremonti, has unexpectedly returned to Rome; not I suspect, as one wag put it, because “one of his mistresses is pregnant”.
Normally on a Monday when Wall Street is shut (today is “Labor” Day in the States, following with much irony some dreadful “employment” numbers on Friday) European markets drift sideways, but today they are down hard, lead yet again by the banks after their euphoric dead cat bounce of only a week ago. In the UK the “People’s” Bank of Scotland (and they are welcome to it) is off 12%, UniCredito and Intesa are both minus 6%, Soc Gen is off 8% as is Deutsche Bank. And you still can’t short European financials; yet another entry in the Book of Duff Ideas from EU Politicians now encompassing ten volumes…
It is now time for the politicians to get serious or the markets will do it for them. And please let’s not have any clap trap about “rocking the boat” in case confidence in the financial system is undermined. It’s been mined and torpedoed already, the crew have started to mutiny and there is an Excocet (they are made in France by the way) approaching off the port bow. Bailing out the boat has been a dismal failure so now is the time to “bale out”, but unfortunately there aren’t enough parachutes to go around, if you can bear my mixing of sea and airborne metaphors!
There will be casualties and it’s no use pretending that because the UK is not a eurozone member it won’t affect us. Our only slim advantage is having a “pound in our pocket”, but how much will that be worth given that it is just another fiat currency backed by absolutely nothing? Along with your gold bars (you have got some haven’t you?) I hope there is more than one tin of spam in the larder…
Speaking of Spam (in WB7's honor):
http://www.freeimagehosting.net/e916f
Whoever replaces Murkle will also do exactly as the banks tell them.
CNBC interviewed Gerhard Schrotum, the former German Chancellor from the socialist party and he said that the German taxpayers must bail out all of Europe even though they don't want to. He said that the leaders know what is best for the little people. Vote left or right, the German people will get fucked
A parachute during a sinking ? Proof positive you have military experience.
Don't worry about saving the banks. Uncle Warren has a lot more $5 billion prepackaged salves at the ready. Oh, and don't worry, in the fullness of time, you will discover your eldest child was a nuisance anyway.
Cheers.
He stated at the end of the third paragraph, "if you can bear my mixing of sea and airborne metaphors!"
Suggest you learn how to read everything before commenting. You know, reading for comprehension?
Well! There has been a documented case where a terrorist from (country name withheld to protect the innocent) high jacked a submarine and for ransom he demanded 50 dollars and a parachute. /
Gadaffi will be captured, judged, executed and buried at sea tomorrow.
Stocks will rally.
Qaddafi is the new Zapata. He's in the mountains.
Gadaffi is irrelevant now, just as bin Laden was.
HAHA - forgot about him, but you may very well be correct!
Similarly, notice how the NYT spins the euro crisis today. Headline suggests that "Europe" is moving toward a stronger union. Granted, it states that "Europe" is "reluctantly" moving toward a stronger union. But it's still a complete lie. The vast majority of Europeans, as evidenced by poll after poll after poll, are AGAINST a stronger union and AGAINST their loss of national sovereignty. It is not Europeans who are moving toward a stronger union but their bank-captured leaders who are trying to change their laws and treaties to deny Europeans any ability to stop the dismanteling of Europe's sovereign democracies.
Hundreds of B's in currency swaps run amuck into short circuit....bespoke media voice pots up
You mean the JYT; bankster-globalist police state = Jews "safe at last".
spot on. localism, xenophobia and conservatism are on the rise in europe.
replaced by an international fascist neo-feudal state run by bankers. retarded fucks like you are looking forward to a baseball bat up the ass. all they need to do now is wipe out all culture and traditions to create a nice bland totalitarian state
http://www.openfilm.com/videos/psywar
http://metanoia-films.org/index.php
All Credit to "CD" for the info provided!
You're confused. Nationalism is not xenophobia.
"You're confused. Nationalism is not xenophobia."
I agree.
My personal view is that the world WOULD be better off with total erasure of national borders, along with a very minimal world government following rules pretty much identical to the US Constitution, as originally written.
Can probably never happen on even a longish timeline, though, since;
a) we have bankers, politicians, corporatists and their sociopathic ilk still sadly swimming around our gene pool, shitting in the water and grinning while they do it.And they breed, train and fund their own successors.
b) if you pick any random country on earth, half (probably closer to 'all' in some countries) the population will pretty much despise the folks from about half the other 191 countries. And unfortunately a lot of that animosity is well founded if one reads a little history.
That said, if we could clean up that gene pool a little, maybe we could get to a time of friendly national rivalry and admittedly wary cooperation between nations. Which would be a whole lot better than the 'fucking each other over for even the tiniest advantage' model we seem currently stuck on.
He's not confused. He's a retarded chimp
Hey maybe I should do an article, wanker blogger can't read.
http://www.bloomberg.com/news/2011-09-05/european-stock-index-futures-drop-on-fifth-merkel-election-loss-this-year.html
http://www.bloomberg.com/news/2011-09-05/rbs-leads-european-banks-lower-on-funding-concern-u-s-mortgage-lawsuit.html
http://www.bloomberg.com/news/2011-09-05/german-bund-yield-falls-to-record-low-as-stock-slide-spurs-safety-demand.html
http://www.bloomberg.com/news/2011-09-04/dollar-rises-against-euro-on-merkel-election-defeat-u-s-slowdown-concern.html
http://www.bloomberg.com/news/2011-09-05/s-p-500-index-stock-futures-fall-signaling-more-losses-after-jobs-report.html
http://www.bloomberg.com/news/2011-09-05/sovereign-bank-credit-default-swaps-surge-to-records-in-europe.html
Um, it may be you that can't read:
"(FINALLY)
European stocks drop on Merkel Election Loss"
It was only a dozen lines or so into the story. Too much effort? His point was that the major exchanges in Europe crashed 5% and more today, and bloomberg.com buried the story in a small headline at the bottom of the page.
The truth is that bloomberg and the other media are, like the U.S. government, merely extensions of the bankster oligarchy. They exist, not to disseminate news, but to hide the truth and shape mass opinion.
when I want to know what the markets are doing, I go to the markets section. I don't expect business news in the leasure section of the ny times. Bloombergis a world news orgainzation, with a business focus, bit it really is a company that sells bloomberg terminals.
in fact go to the news section on the banner and see how it's divided. sorry, but the article is BS. if you want to do an analysis if bloomberg and their bias in reporting, well I have noticed it often telling the party line when the govenment hands out data, and they report it in a non critical manner. without going into whyu the number is in fact wrong. that sin happens in almost every US newspaper. So, ye3ah, bloomberg has problems, but the accusation made by the pundit isn't accurate. If bbc didn't have the headlines scream it would teh pundit post the same thing.
http://www.bloomberg.com/markets/stocks/futures/
and.. if you go off topic! Econophile will cry to Tyler to remove the post!
Econophile is a Cencorship Queen!
Censors don't get Lubrication.
Perhaps Econophile was slipped a Mickey Finn. Or better yet, this is a test.
Let's take a look at Zero Hedge's ratings!
http://www.youtube.com/watch?v=2rXtG3vfAlA&feature=player_detailpage
Ahhh. "The slow burn." You should see one of these things lying on it's side in Alabama. You could fit ten space shuttles in it. Ahh, the good old days.
Zero Hedge
more popular than God..
ya
i said it ... bytches