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Surveying The Global Damage

Tyler Durden's picture




 

With the US equity markets only 2 to 3% off their highs, we thought it appropriate to look around the world at where the leveraged equity unwinds so far. There remain a select few nation's equity markets that are positive year-to-date.

Year-to-Date, the deleveraging point is clear... (but US equities - for now - remain clean)

 

Europe is hurting...

 

Asia-Pac is not pretty...

Americas...

 

 

and the BRICS are ugly...all red for the year

 

Charts: Bloomberg

 

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Thu, 06/20/2013 - 09:05 | 3674870 hugovanderbubble
hugovanderbubble's picture

ARGENTINA IS IN DEFAULT

Thu, 06/20/2013 - 09:07 | 3674879 LawsofPhysics
LawsofPhysics's picture

Any links to credible information?  I am watching the price of sugarcane closely, for several reasons.  would be an interesting domino to drop.

Thu, 06/20/2013 - 09:10 | 3674889 hugovanderbubble
hugovanderbubble's picture

Grupo Petersen, Leaked Info

 

Thu, 06/20/2013 - 09:17 | 3674910 The Thunder Child
The Thunder Child's picture

SILVER SALE BICHEZ!!

Thu, 06/20/2013 - 09:47 | 3674996 BoNeSxxx
BoNeSxxx's picture

Stacked a little more this morning. Of course I accessed APMEX via the ad on ZH - gotta support the Tylers when I can :-)

Thu, 06/20/2013 - 10:52 | 3675227 THX 1178
THX 1178's picture

Remember: this is all WITHOUT a taper. This is all just moreof the same. What happens when there actually is a taper. O_o

Thu, 06/20/2013 - 12:18 | 3675544 malikai
malikai's picture

May I remind you all that the objective is to reduce "inflation expectations".

I believe the plan is progressing swimmingly.

Thu, 06/20/2013 - 12:23 | 3675558 Herd Redirectio...
Herd Redirection Committee's picture

Jawboning...

If there is a sustained taper it will all come apart at the seams.

Right now we are experiencing USD strength, AKA deflation, AKA (IMO) the Ka-Poom (deflation then hyperinflation)

Thu, 06/20/2013 - 14:34 | 3676017 Midasking
Midasking's picture

tapering is not happening or the entire world will be a smoking hole in the ground. QE will be expanded you can count on that. http://tinyurl.com/mem7o7x

Thu, 06/20/2013 - 09:10 | 3674892 BeepBeepImAJeep
BeepBeepImAJeep's picture

http://i.imgur.com/EmU1XAj.png

 

I see what you did there.

Thu, 06/20/2013 - 09:12 | 3674901 LawsofPhysics
LawsofPhysics's picture

Did not expect anyone here to catch that.  We grow a lot of sorghum.  

Thu, 06/20/2013 - 09:05 | 3674871 transaccountin
transaccountin's picture

us on top. fuk ya!

Thu, 06/20/2013 - 09:11 | 3674896 gjp
gjp's picture

yep, the US will be last to go because the reserve currency will be last to go and years of living off the exorbitant privlige has so detached America from reality that denial runs thicker here than anywhere else in the world.

Everyone fleeing to the reserve currency trash today and dumping PMs?  Futures about where they started the week?  Banksters still having it their way.

Thu, 06/20/2013 - 09:35 | 3674969 Headbanger
Headbanger's picture

Not for long.  Coming to a Walk of Fame near you:

http://hosted.ap.org/dynamic/stories/U/US_HOLLYWOOD_STABBING?SITE=AP&SEC...

And people wonder why I carry two loaded pistols every day

Thu, 06/20/2013 - 09:08 | 3674873 Element
Element's picture

 

 

Presenting the 'fuck you' manifesto;
 
 

F U C K    Y O U !

 

I ' m   n o t   d o i n g   a n o t h e r    t h i n g   u n t i l   t h e s e   s c u m   h a ve   b e e n   e l i m i n a t e d !

 

N o t   p a y i n g   t a x e s   u n t i l   b a n k s t e r s   a r e   E X E C U T E D !

 

N o t   c o m p l y i n g   u n t i l   a l l   F I R E   S E C T O R   d e b t s   h a v e   b e e n   t a k e n   o f f   t h e   P u b l i c - D e b t  a n d   t a x a t i o n   tab !

 

N o t   b e h a v i n g   i n   a   c i v i l   w a y    u n t i l   t h e   p o l i c t i a n s   w h o   a t t a c k   u s   w i t h   ' l a w '   a n d   po l i c e   a r e   E X E C U T E D !

 

N o t   p l a y i n g   n i c e   u n t i l   c r i m i n a l   p o l i c e   o f f i c e r s   a r e   e n t i r e l y   r e m o v e d   a n d   E X E C U T E D !

 

N o t   b e i n g   a   ' l a w f u l '   c i t i z e n   w h i l e   ' l a w '   i s   t h e   p r e f e r r e d   m e c h a n i s m   a n d   u s e d   a n d   i n v o k e d   as   an   e x c u s e   t o  e x p l o i t   a n d   d e s t r o y   c i v i l i a n s !

Thu, 06/20/2013 - 09:10 | 3674882 LawsofPhysics
LawsofPhysics's picture

Love it, +1.  Time to execute all the paper-pushers and their political puppets.  Their labor is of no value anyway.  They manipulate paper promises in order to steal real assets and gain power and control of resources (including the human kind).

Those of you with real tradable skills should welcome revolution (while you still have a chance to do so).

Thu, 06/20/2013 - 09:27 | 3674947 Bearhug Bernanke
Bearhug Bernanke's picture

eviscerate the aristocracy

Thu, 06/20/2013 - 12:29 | 3675573 Herd Redirectio...
Herd Redirection Committee's picture

Personally, all I ask for is justice.

I don't particularly like the idea of spending $40k a year to house these guys the rest of their existence, but if we lose sight of justice then... Thermidorean Reaction here we come.

Thu, 06/20/2013 - 09:31 | 3674959 BeetleBailey
BeetleBailey's picture

Well stated.

Dude....renounce...move to an island....chill out....let the fireworks happen from afar....\

off the grid......cut the ties....

cause what you wrote...simply ain't..gonna happen ....

it'll be uglier....

Thu, 06/20/2013 - 09:51 | 3674991 Element
Element's picture

Yeah ... indubitably ... generalizations are generally-inadequate ... was thinking just yesterday that military-ruled Fiji is looking better and better as a model of law, decency and respect for civil rights.

 

(... and always wanted to try using that word correctly somewhere)

Thu, 06/20/2013 - 09:06 | 3674875 hugovanderbubble
hugovanderbubble's picture

BRICS ARE DEAD

Thu, 06/20/2013 - 09:16 | 3674915 DeadFred
DeadFred's picture

After the crash has done it's thing get back in the BRICS and SE Asia markets. Until then hunker down and ride the storm. Today will be an interesting day. Lots of stuff is at support or just broke through to find out where that next support might be. Exciting times.

Thu, 06/20/2013 - 09:44 | 3674992 reload
reload's picture

Indeed: And I have heard a lot of professional longs very recently and very happily claiming to be ALL IN on the long side of the Equity markets.

Two people who run serious pension fund money justified this by saying to me that they were sure others did not yet `own enough` -- i.e there would be a desperate buyer coming to show them a profit soon, nothing to worry about.

No sympathy from me. They only care about not being outperformed by their peer group anyway, the clients are just meal tickets.

Thu, 06/20/2013 - 09:07 | 3674878 hugovanderbubble
hugovanderbubble's picture

US REITS ARE A BUBBLE.

 

SHORT US REITS

 

SELL US REITS

 

SHORT IYR

SHORT RWR

Thu, 06/20/2013 - 09:37 | 3674977 BurningFuld
BurningFuld's picture

REIT = The next Wall Street con game. Good luck suckers!

Thu, 06/20/2013 - 09:07 | 3674881 Ancona
Ancona's picture

Wow, epic temper tantrum! Like a little kid in the check-out line begging for candy.

Thu, 06/20/2013 - 09:08 | 3674884 ohhhhhbaaaaahhh...
ohhhhhbaaaaahhhhhhhhhmaaaaaahhhhh's picture

USA  -infinity% 

Thu, 06/20/2013 - 09:09 | 3674885 Stuart
Stuart's picture

The US is throwing the rest of the world under the bus to save its sorry unworthy ass.  It's the source of much of the corruption and fraud behind the market rigging.

 

Thu, 06/20/2013 - 09:11 | 3674897 LawsofPhysics
LawsofPhysics's picture

Bingo.  Much to everyone's surprise, it turns out the U.S. is the world's largest corporate tax haven after all.

Thu, 06/20/2013 - 09:49 | 3675002 realitybiter
realitybiter's picture

(The rest of the world)

"Yes, it is your dollar.  It was our problem.  You can keep it."

Thu, 06/20/2013 - 09:09 | 3674887 johny2
johny2's picture

in China the banking is wobbling, in Brazil people are arising, and USA are puzzling.

Thu, 06/20/2013 - 09:11 | 3674895 Freewheelin Franklin
Freewheelin Franklin's picture

Where's the Bitcoin graph?

 

 

https://mtgox.com/

Thu, 06/20/2013 - 09:14 | 3674909 seek
seek's picture

mtgox has suspended USD withdrawls, that might have a wee bit of impact.

 

Thu, 06/20/2013 - 09:27 | 3674944 Freewheelin Franklin
Freewheelin Franklin's picture

Hmmm. The other exchanges seem to be holding steady. The Mt Gox suspension doesn't seem to be in response to the current situation.

Thu, 06/20/2013 - 09:11 | 3674898 SilverIsMoney
SilverIsMoney's picture

Wheres the gold and silver thread? Jeeeeesssssuuussss .... Did I wake up in April?

Thu, 06/20/2013 - 09:13 | 3674904 LawsofPhysics
LawsofPhysics's picture

ignore paper and paper promises.  When fruad is the status quo, possession is the law, follow the physical.

Thu, 06/20/2013 - 09:17 | 3674920 BigJim
BigJim's picture

It's pretty ugly, I got to agree. But... I'm wondering if now is the time to sell some gold and buy some more silver... ratio is > 65:1

Any thoughts, fellow hedgers? 

Thu, 06/20/2013 - 09:22 | 3674931 ultimate warrior
ultimate warrior's picture

I'm buying all the silver I can afford. 

Thu, 06/20/2013 - 09:23 | 3674934 mayhem_korner
mayhem_korner's picture

 

 

Assuming you're talking physical (if not, then go back to bleating). 

 

Keep whatever physical you have.  Don't bother yourself with speculating on the ratios; continue converting the purchasing power of any loose fiat into Ag or Au. 

Thu, 06/20/2013 - 09:29 | 3674953 BigJim
BigJim's picture

 Keep whatever physical you have.  Don't bother yourself with speculating on the ratios; continue converting the purchasing power of any loose fiat into Ag or Au. 

It's allocated, in a vault out of the banking system. I don't have any loose fiat, sadly; hence the juggling to increase the total ounces owned.

If silver is undervalued relative to gold, and I swap gold for silver, I'll have more purchasing power when (if!) the ratio reverts... capiche?

Thu, 06/20/2013 - 09:34 | 3674967 mayhem_korner
mayhem_korner's picture

 

 

"If" is the well that never dries for you speculators. 

Thu, 06/20/2013 - 09:41 | 3674981 BigJim
BigJim's picture

Now that our economies are dominated by central planners, ANYONE holding capital is a speculator, whether they like it or not.

I'm beginning to wonder if this is it... when we see the oligarchy literally buy everything, and wind up owning everything, in order to 'save capitalism from itself'.... ie, to save the oligarchy from losing everything when their paper ponzis collapse.

This really could be it. 

Thu, 06/20/2013 - 12:25 | 3675176 Ckierst1
Ckierst1's picture

Gold and silver phyzz IS capital.  You're just speculating which horse is faster in your stable.

Thu, 06/20/2013 - 09:24 | 3674938 Doña K
Doña K's picture

Despite the potential advantage, you need to stay lightweight. If you need to carry in a hurry, 65 times better with gold.

Thu, 06/20/2013 - 09:30 | 3674955 BigJim
BigJim's picture

Good point

Thu, 06/20/2013 - 10:35 | 3675159 Ckierst1
Ckierst1's picture

I wonder if they will also try to confiscate silver bullion this time around?

Thu, 06/20/2013 - 10:56 | 3675250 el Gallinazo
el Gallinazo's picture

But 65 times harder to get change when buying a pizza :-)

Thu, 06/20/2013 - 13:15 | 3675737 Panafrican Funk...
Panafrican Funktron Robot's picture

There's a reason the 1/10's sold out.  

Thu, 06/20/2013 - 09:40 | 3674979 The Thunder Child
The Thunder Child's picture

The problem is you have to sell the gold first for the monetary value then buy the silver with that money. No shop will trade one for the other or trade at value, I did it once to equal out my percentages...decided not to do it again.

You are better just holding what you have and adding to the shorter stack.

Thu, 06/20/2013 - 10:32 | 3675142 Ckierst1
Ckierst1's picture

Keep some silver around for pocket change but your bugout bag should contain mostly gold.

Thu, 06/20/2013 - 10:05 | 3675061 seek
seek's picture

I'm buying silver to lower my cost average to offset one of my badly timed purchases (at > $40).

No freaking way I would sell anything right now. Except maybe residential real estate.

Thu, 06/20/2013 - 09:13 | 3674902 Clam McCain
Clam McCain's picture

Gold bugs are getting insecticided

Thu, 06/20/2013 - 09:18 | 3674913 Technical Difficulty
Technical Difficulty's picture

Gold and silver - crushed. 

 

Edit: and oil. 

Thu, 06/20/2013 - 09:29 | 3674952 mayhem_korner
mayhem_korner's picture

 

 

Apart from the market-sharting from the perceived punchbowl pull back, gold and silver are being liquidated for margin calls.  The physical truck-loading over the next 30 days might just cause the walls of Comex to come tumblin' down.

Thu, 06/20/2013 - 09:33 | 3674965 BigJim
BigJim's picture

I hope so... but I've been hearing that said throughout the 5/6 years I've taken an interest in the subject.

Still, the COT reports and registered/eligible COMEX figures are getting increasingly interesting, I have to admit.

Die, JPM, die! 

Thu, 06/20/2013 - 09:36 | 3674975 mayhem_korner
mayhem_korner's picture

 

 

 

Yeah...reality is that it would take a whole lot more than the upcoming outflow to take down the Morgue.  There will be blood in the streets before Jamie has been "cadavered".

Thu, 06/20/2013 - 12:34 | 3675592 Herd Redirectio...
Herd Redirection Committee's picture

So.... If gold, silver and oil are down...

Is anything (tangible) really down at all?

Thu, 06/20/2013 - 09:42 | 3674982 Variance Doc
Variance Doc's picture

And to the NSA dickheads, that's German for "The, JPM, the!"

Thu, 06/20/2013 - 09:54 | 3675025 e-recep
e-recep's picture

once COMEX and LBMA close their doors, the show will commence.

Thu, 06/20/2013 - 09:17 | 3674918 fijisailor
fijisailor's picture

Gold bugs are buying with both hands

Thu, 06/20/2013 - 09:18 | 3674922 mayhem_korner
mayhem_korner's picture

 

 

Just the paper ones...we phyzz holders don't care about the "price" the crawls across the screen. 

Thu, 06/20/2013 - 09:56 | 3675039 PhilofOz
PhilofOz's picture

Oh come on! We do care! It means that my stack could be about 50% higher had I waited until now to jump in.

Thu, 06/20/2013 - 10:01 | 3675049 mayhem_korner
mayhem_korner's picture

 

 

Interesting logic.  You would have more now if only you had postponed accumulating.  Why don't you hold off some more and really build that stack, eh?

Thu, 06/20/2013 - 10:14 | 3675086 Ckierst1
Ckierst1's picture

Sell in May and go away (until either mid July or later in August)?  Nobody said that seasonality was being absolutely suspended by manipulation as far as I can see.

Thu, 06/20/2013 - 09:20 | 3674925 seek
seek's picture

More like dancing if they can get physical.

Remember the old advice "buy when there is blood in the streets." We're very close to that point.

Thu, 06/20/2013 - 09:17 | 3674921 q99x2
q99x2's picture

Ponzi implosion headed toward Wall Street.

Thu, 06/20/2013 - 09:20 | 3674926 ChaosEquilibrium
ChaosEquilibrium's picture

Anyone have a look at the 1-minute Candlesitcks coming out of Europe?

 

How the fuck do 8 markets 'flatline for the past 3 hours?

 

You push a BIG RED button that has recently been installed in the past 5 years!!

Thu, 06/20/2013 - 09:31 | 3674957 mayhem_korner
mayhem_korner's picture

 

 

That's no flat line.  It's a space station.

Actually, it's the algo's becoming self-aware.  Cue Terminators.

Thu, 06/20/2013 - 09:24 | 3674936 fuu
fuu's picture

MathMan finally right after 2 years as silver sits at $19.85.

Thu, 06/20/2013 - 09:35 | 3674970 BigJim
BigJim's picture

LOL... dear old MathMan... I wonder what government office he's infesting now?

Thu, 06/20/2013 - 09:25 | 3674943 mayhem_korner
mayhem_korner's picture

 

 

Sphinx Riddle, Star Date twenty dash oh six dash twenty thirteen:

Mr. Owl, how do you get the "taper" test ballon back into the toothpaste tube?

Thu, 06/20/2013 - 09:27 | 3674948 Richard Head
Richard Head's picture

Was Mathman right?

Thu, 06/20/2013 - 09:37 | 3674976 BigJim
BigJim's picture

You mean his assertion, the shit is everywhere! ?

Last time I looked in my garden... no.

Apart from where I buried it, of course.

Thu, 06/20/2013 - 09:30 | 3674954 Headbanger
Headbanger's picture

As I said before.  anybody else going to Palau soon?

Thu, 06/20/2013 - 09:32 | 3674963 mayhem_korner
mayhem_korner's picture

 

 

I'm happy to rent you space in any of my bungalos there.  Ten silver oz per night.  :D

Thu, 06/20/2013 - 09:48 | 3674986 Azannoth
Azannoth's picture

They got us squarely between a rock(fiat-currency) and a hard place(gold/silver), we can't/won't own the former for philosophical reasons if nothing else, and we get crushed owning the latter F.U.! Banksters! I think a high noon for a revolution is approaching fast

 

We all(or at least I) thought we'd be sitting pretty on our PMs looking at the Revolution through our windows waiting to "cash in" on our foresight, but no you had .. you had to stick it to us! You stupid F*CKS Banksters, you had to force us to rise up with the masses and defend what we stockpiled over the years, .. well I hope you're happy with your selves cuz you're gonna get exactly what was comming to you.

Thu, 06/20/2013 - 09:52 | 3675017 eddiebe
eddiebe's picture

Shit must be getting serious. I can't even raise the fidelity website.

Thu, 06/20/2013 - 09:57 | 3675040 orangegeek
orangegeek's picture

MO POMO no work.

 

US indexes are trying to retrace.

 

Ben and Barry must be putting the hammer down.

 

It's all bullish folks.

Thu, 06/20/2013 - 11:13 | 3675352 awakening
awakening's picture

There it is, the chilly winter in Australia I was talking about a while ago =)

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