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"Sea Of Red": US Futures Tumble, DJIA Red For The Year, DAX At One Year Low, Treasurys Under 2.30%
And just like that. everything is crashing. Whether it is Asia, Europe, or even US futures, an entire generation of traders are waking up to something few have seen in the past 6 years: a very rare sea of red, only this time with the main difference that the perpetual backstop of all risk, the Fed and/or "Edward Quince", may not be there to halt the collapse.
As a result, everyone from algos, to E-trade babies, to experienced hedge fund professionals who had abandoned shorting as a hedging strategy in a world in which the Fed eliminated risk are stunned, unable to decide what to do in a market in which not everything goes magically up every day.
Case in point, the German DAX, the country which is at the forefront of Europe's slide into a triple-dip recession, which after hitting an all-time high just a few short months ago, has plunged to a one-year low, and after dropping over 2% today is just over 8800 and well below the psychological support level of 9000.
The US is not faring any better, with the ES breaking key support levels, and set to drag the Dow Jones to an open where it would be red for 2014. The only safe haven this morning? The 10 Year, which just dropped to a fresh 1 year low under 2.30%: but David Tepper said something about bubbles...
In other news, European stocks fall to almost 7-month low - the alleged reason: concern about clashes between Draghi and Schaeuble over what steps to take if the euro-area economy weakens, while WTI crude, brent continue slump. Draghi said late yesterday there are signs Europe’s recovery is losing momentum. Schaeuble warned against QE. Treasuries drop for 1st time in 5 days. Yen heads for 1st weekly gain since August as concern about global economy boosts demand for haven assets. Asian shares fall, metals decline.
Market Update
- S&P 500 futures -0.6% at 1913.5
- Stoxx Europe 600 down 1%.6 to 321.34
- US 10Y yield down 2bps to 2.30%
- German 10Y yield little changed at 0.9%
- MSCI Asia Pacific down 1.6% to 136.56
- Gold spot unchanged at $1222.3/oz
A quick rundown of overnight markets:
Bund futures opened in minor negative territory and fell for the first few hours of European trade after T-notes tripped sell-stops on the way through yesterday’s lows of 126.11. However, softer stock markets and a warning that the German economy ministry are to cut their 2014 and 2015 growth forecasts to 1.25% (from 1.8% and 2.0% respectively) helped close the opening gap in Bunds, heading back toward contract highs of 150.78.
The DAX future hit the lowest level since October 2013 as the near-term correction continued after yesterday’s sharp sell-off on Wall Street. The S&P 500’s 2% fall has knocked the DAX future below 8800 – a level not broken since late 2013. Unsurprisingly, the materials and energy sectors perform particularly poorly as commodities prices continue to slide. Elsewhere, chipmakers have fallen sharply on Microchip Technology’s lower-than-expected earnings update yesterday, which sent their shares lower by 11% in after-market trade. As such, Infineon Technology as well as STMicroelectronics have suffered today.
In FX, GBP/USD trades with losses of over 50 pips, with the pair back below the 1.61 handle as UK political risk re-emerges and modest USD strength weighs on the pair. This follows the Clacton by-election, where (alongside expectations) UKIP gained their first seat in UK Parliament. However, UKIP's share of the vote was far greater than forecast (60% vs. Conservative's 25%). Separately, the Henley & Middleton by-election cut Labour's lead over UKIP to just over 600 votes, raising fears that the anti-EU UKIP will gain a large portion of the votes in 2015's general election and could even form a coalition with another major party.
In commodities, overnight, the energy sector continued to come under selling pressure with WTI crude futures falling as much as 2.5% and currently look set to post their biggest weekly drop since June 2012. Brent crude futures also fell with prices touching their lowest levels since December 2010. The continued weakness in crude prices comes after Brent dropped below the USD 90/bbl handle for the first time in more than 2 years and WTI falling to a 22-month low, during yesterday's session. Ahead of OPEC’s next meeting on November 27th, analysts at Nordea say OPEC will probably cut supply target at November meeting by 500,000 bpd as demand for group's crude to be lower in 2015 amid booming US of supplies.
Bulletin Headline Summary from RanSquawk and Bloomberg
- European markets play catch-up with yesterday’s sharp sell-off in the S&P 500, as the DAX future breaks below 8800 to erase all gains seen within the last 12 months
- Global markets remain nervous of an extended slump in growth and inflation, as the German economy ministry admit they will be forced to slash GDP growth expectations next week
- More Fedspeak due later today, with Plosser, George, Fisher and Lacker expected to reinforce the Fed’s expectations of a mid-2015 rate hike
- Speeches also scheduled from ECB members Constancio, Nowotny, Linde, Praet and Coeure in Washington D.C.
- Treasuries rise, 10Y headed for third consecutive weekly gain amid concern over global growth that pushed 10Y yields of Germany, France, Belgium, Spain, Netherlands, Austria and Finland to record low yesterday.
- Positioning indicators suggest investors have moved closer to neutral from short in recent weeks, and Credit Suisse Options Sentiment Indicator gave first sell signal since May
- ECB’s Draghi and German Finance Minister Schaeuble differed over what further steps to take if the euro-area economy keeps weakening as the region came under renewed foreign pressure to revive growth
- Fed officials are hunting for new tactics to raise price increases to their target as slowing global growth, cheaper commodities and flat wages sound warnings that inflation is descending toward the danger zone
- Iran will sell its oil to Asia in November at the biggest discount in almost six years, matching cuts by Saudi Arabia as global crude benchmarks slide deeper into a bear market
- Hong Kong pro-democracy protest leaders called on supporters to flood the city’s streets today after the government called off talks aimed at ending the two-week standoff
- North and South Korea exchanged fire over one of the world’s most fortified borders for the second time in a week, at a time when the prolonged absence of Supreme Leader Kim Jong Un fuels concern about his grip on power
- The U.K. Independence Party, which wants Britain out of the EU, showed the extent of its reach by winning its first elected parliamentary seat in southeast England and almost taking another in the northwest
- Kurds defending Kobani risk running out of ammunition as Islamic State surrounds the town and Turkey controls their only outlet, according to a Kurdish lawmaker in Turkey and observers of the fighting in Syria
- Sovereign yields lower, led by peripheral Europe. USD weaker vs all G-10 peers. Asian and European stocks mostly higher. U.S. equity-index futures gain. WTI crude lower, gold and copper higher
US Event Calendar
- 8:30am: Import Price Index, Sept., est. -0.7% (prior -0.9%)
- Import Price Index y/y, Sept., est. -1.4% (prior -0.4%)
- TBA: Monthly Budget Statement, Sept., est. $82b (prior $75.1b)
- 9:00am: Fed’s Plosser speaks in New York
- 1:00pm: Fed’s George speaks in McCook, Neb.
- 2:08pm: Fed’s Fisher speaks in Dallas
- 3:00pm: Fed’s Lacker speaks in Chicago
* * *
DB's Jim Reid Concludes the overnight recap
The market is not showing the poise of a ballerina at the moment and its fair to say that volatility is well and truly back. No sooner had we seen the best day since October last year for the S&P 500, last night we saw the worse day since April as the index dropped 2.07%. With volatility we also saw the VIX index spike to 18.76 (highest since February 2014). Eurozone growth concerns came back to the fore following the biggest monthly decline in German exports in over 5 years (-5.8% v -4.0% expected) as well as a rather tepid response to Draghi’s comments at a Brookings Institution conference yesterday. Several European Government 10 year bond yields hit fresh multi-century all time lows again yesterday reflecting the heightened concerns in the market.
The ECB President said that there are signs that the European economic recovery is losing steam whilst at the same time reaffirming that the ECB is ready to alter the size and/or composition of its unconventional measures. He also reiterated his pledge towards price stability and lifting inflation from current levels. Draghi said that the current programmes in place should have a sizeable impact on the ECB’s balance sheet and eventually push inflation back to 2% by 2016 or 2017. On balance sheet size whilst he wasn’t specific on a target he said the ball park was for the ECB’s balance sheet to return to levels seen in early 2012 when it was at least around EUR700bn higher than where it is currently. Draghi called for more flexibility around government’s fiscal policy (for those who can afford to), but was met with an opposing view from Germany’s finance minister Wolfgang Schaeuble who urged for continued budgetary discipline. Although Draghi was seemingly more dovish than at his press conference last week the market seems to be getting frustrated that the ECB's next move could still be some way off.
Draghi’s comments were a reminder of the challenges in Europe following a bad week for global growth expectations including various growth forecast downgrades from the World Bank/IMF earlier this week. The subdued outlook is worrisome and the price action in various commodities complex of late is broadly a reflection of this. Dollar strength is clearly a headwind too but crude oil has been on a downtrend for some time now. Brent is seeing further declines overnight during the Asian session and is around US$88.6/bbl as we type. This puts Brent at the lowest since December 2010 and officially into bear market territory after having corrected over 21% since the highs this summer. WTI has also come off around 19% since the highs in June. The U.S. Energy Information Administration reduced its forecasts for demand growth on Tuesday so there will be some attention on the OPEC’s monthly report today.
Back to the capital markets, the S&P 500 sell-off yesterday was driven by broad based declines across sectors and it shouldn’t be overly surprising to see Energy (-3.70%) being one of the worst performer given the Oil market woes. US credit markets also responded to the weaker risk tone yesterday. The CDX IG S23 contracts finished the day nearly 3bps wider. The CDX HY index was relatively resilient (down half point) although US HY cash curves traded heavy with bonds down anywhere between ¾ to 1 ¼ points on the day.
Staying on US HY, there has been some good news overnight as the recent tide of outflows seems to be taking a pause for now. The asset class experienced a very modest inflow of US$137m (0.05% of AUM) for the week ended 8 October. Whilst modest this is still materially better than the US$2.3bn of outflows we saw the week prior to this. The latest inflows also brings the four week moving average outflows down to US$1.1bn from around US$1.5bn in the prior week. Things were less rosy for European HY though with outflows continuing for the second week. European HY saw outflows of US$430m (1.1% AUM) during the week ended 8 October bringing the four week moving average to US$269m from US$234m in the week prior to this. Our updated US and European HY fund flow charts included in the PDF.
Looking at our screens this morning the Asian session is largely following the negative lead from the US. Bourses in Japan, China, Hong Kong and Korea are down -1.5%, -0.6%, -1.6% and -1.5%, respectively. In Hong Kong, the government has called off a scheduled meeting because they felt the talks would not lead to a constructive outcome after movement groups called for more rallies (SCMP). A HKEJ article said that the Hong Kong-Shanghai stock connect scheme may be delayed by the protests. Asian IG credit spreads are 2-3bps wider whilst HY bonds are also softer across the board.
US Treasuries are little changed with the 10yr at around 2.31% although off the intraday lows of 2.277% during the last 24 hours. The risk-off tone is perhaps offering a bid to rates although there were no lack of Fed sound bites from yesterday’s line up to confuse the market. On the hawkish end of things we had Bullard saying that inflation will go above the Fed’s 2% target in 2015 on the back of a strongly performing US economy. Bullard is not worried about Dollar strength having that much impact on inflation and said the Fed continues to be on track for its first tightening at the end of Q1 2015. Fed’s Williams added to the debate saying that he thinks that a mid 2015 lift-off is a 'reasonable guess' and also highlighted the risk of a premature tightening. Vice Chair Fischer also gave us some insights of what ‘considerable time’ means by saying that it could mean anything from two months to a year. So it seems that even the bid/offer on Fed guidance is getting illiquid!!!
Looking at the day ahead we have a fairly light calendar for data watchers. We have more Fed speeches lined up with Fed Presidents Plosser, Fisher and George scheduled at some point later today. In Europe we have August industrial production reports from France and Germany which will be important given recent data. The IMF annual meetings will continue into the weekend so expect lots of sound bites. One highlight is the Fed's Vice Chair Fischer speaking on the global economy on Saturday.
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One very expensive disease, coming up!*
"Burn baby Burn, Disco Inferno......"
My prediction for Monday - Stocks recover loses from last Friday.
Help us, Obi-Wan Kenobi...you're our only hope.
If you could throw some change in there.....that would be super.
DIE MARKET!
DIE! DIE! DIE!
It will die, eventually -- then Yellen will step in with 170 billion per month.
Things will be fixed by close today.
Buy.
Yet, Ebola.
Bye.
Columbus Day weekend is the last big retail weekend before Black Friday. I think they pump as hard as they can to at least get a -10 to +10 close.
The very same month, week and nearly day that QE ends and the market throws a hissy-fit. It's got to be coincidence.
Said the dog who ate to much people food.
That doesn't make sense. Do you mean too?
i disagree with the monday recovery theory. Late friday ramp has been used to maintain animal spirits - it sure seems absent now, as QE exhales its last 3 weekly breaths
well, this incarnation of QE, anyway
Don't fight the Fed.
Heard the Ebola virus never.
3% up days only occur in bear markets. Considering how few people are short, Wed`s move must have been all Fed buying.
When we have a really bad day, you'll know.
Edward Quince can always invent enough money to stem the tide. BTED! Buy The Ebola Dip!
i'm going back to bed
Kevin Henry is still in bed
Why are you in bed with kevin, or is that too personal?
*Yawn* We'll be green and up 6% by EoD. As long as the printers are running the ponzi won't end. BTFD. I love the hyperbole here. S&P futures down 0.6%? "IT'S A BLOODBATH OF RED! THE MARKETS ARE COLLAPSING! PANIC!"
I don't think the heavy stuff is going to come down for quite a while.
http://www.youtube.com/watch?v=t3lshY4PwI4
the good Lord would never disrupt the best game of my life
Oh Rat Fart!
As of 7:40 AM EST, futures are down 2.3%. Sounds like a big deal. I wonder what's up.
http://www.marketwatch.com/
So what does the western world want to do first? Prop up the stock market? Start a war with Putin? Deal with the possibility of an Ebola outbreak? Stop the Euro from breaking up? Dealing with ISIS? Getting rid of Assad?
I hate to say this, but Ebola becoming a fully blown problem is the only chance for humanity to put aside its differences because it sure ain't going to be common sense that will do the trick.
Yeah, two sick people outside of West Africa; they're contained and it isn't spreading anywhere. Total crisis, right? Epidemic right? More hyperbole. 2 sick people = end of the world. S&P futures down 0.6% = complete market collapse.
You guys can be such hyper-reactionary drama queens sometimes.
Sportsguy chestbump!
https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcTNB9wMRruFnmfc_Ibx...
You guys can be such hyper-reactionary drama queens sometimes.
Welcome to the land of the never ending sarc.......welcome to Fightclub bitch.
Why is "access denied" to the drama queen labeler?
Super-Troll account?
Musta moved back to HuffPo.
We gave him the standard welcoming fruit basket....it's not like he left with nothing.
There will no doubt be a reversal engineered by panicked central banks buying what they can but even the cheerleaders are starting to get jittery and that's when black swans start to look like pall bearers.
WRONG!!
I am willing to consider all points of view but a simple WRONG tells me nothing about your reasons. By the way, when I say "reversal" I don't mean a full reversal but some form of clawing back to stop the dominoes falling too far.
WRONG!
AGAIN!
Headbanger, Keep banging that head of yours. I am sure it will come good in the end.
Headbanger, I agree with Pan, you need to be a bit more specific than that.
And please don't answer: "EVEN MORE WRONG!"
Headbanger, what is this guy doing wrong?
http://www.youtube.com/watch?v=oEL6P8uL-PQ
Ireistx - Actually, the mainstream media is now calling Ebola a pandemic. While this situation is dangerous, it isn't something I am losing sleep over.
But I could envision future headlines: "The US government has ordered all citizens to remain in there homes under quarantine to stop the Ebola pandemic."
A month later: "The Ebola pandemic caused the collapse of the financial system. To maintain our way of life, savers with over $50,000 were taxed a one-time tax of 25%."
We'll see, Iriestx, we'll see. I hope you are correct and it remains contained and is eventually eradicated. I have a different expectation though - I don't believe it will be contained. The cat is out of the bag now, and there's no bag to put it back into. This Ebola outbreak will become worse in the first world than anyone is imagining right now. People with "first world problems" are going to find out exactly what a real problem, and what real suffering, is. Just give Ebola time to work its evil..... God, I hope I'm wrong.....
MSM says '150 a day flying in from W. Africa'. I'm sure 'it can't happen here'. We've got the Obolo Chief in Charge. Right?
FZ's https://www.youtube.com/watch?v=svdrAHn_LGo
You guys can be such hyper-reactionary drama queens sometimes.
Never stand in the way of paranoids and their beliefs. They dont believe anything the media has to say about 911, but would believe everything about ebola.
Americans had Mo'fkin GUNS to fight off the invaders so they gave them something which they cant fight with guns and look how they panic.
Ebola is a false flag distraction, preying on the panic of the people, while----- like Bedouins bandits----- the governors steals off silently into the night with whatever nefarious schemes they have afoot.
You have more to worry about with common flu at this time.
And stay the hell out of Africa.
You'll thank Iriestix below, later.
One of my clients has just returned from W. Africa, and rang yesterday asking
to discuss some work.
Bearing in mind she brought back giardia from a visit to S.America, which one of my
workers caught, she is no longer a client as of yesterday .She is a UPS pilot, so no risk vector there.
Cough,cough.
A 70% chance of death is something to be not sneezed upon about.
+1 for asking humanity to put aside it's differences. here a repeat:
in short, Ebola has become a world common bad. which is simply a negative common good, and subject to the problems related to the "Tragedy of the Commons"
which is the single most problematic (unanswered) issue for a whole spectrum of views, from anarchy to libertarianism to classic liberalism to capitalism
and the one issue where a whole other spectrum of views has answers, from statism to socialism to fascism to communism. You might not like them, they might be even cures worse then the disease, but they are answers
so what would be a fervent, non-introspective anarcho-capitalistic reaction to that? the easiest, "political savy" one would be to blame it on a conspiracy, I'd guess, and ignore as usual all Tragedies of the Commons. Or perhaps sell Doom Porn articles like a personal HazMat suit?
from anarchy to libertarianism to classic liberalism to capitalism
Beats what we're doing now.
if by "we" you mean the US, I'd say "stock-market driven". but that's me, and I often rail against financialization
Okay then, who is smarter, a yeast, a human, or an ebola.
ZeroHedge #Fukushima.........what Markets....bitchezzzzz
It ever there was a bear trap aborning, this is it.
You don't really think that other than it being October, historically a month in which the worst is expected, that this market ascendancy is over, do U?
J B T F D.
I know this is heresy here, but there is nothing that has changed that much in the last few days to account for the bottom falling out.
While this appears to be an accelerating decline, and S & P 665 is right around the corner, my good friend and investment guru, Budgie Twitters, has gone half in
at -350 from Wednesday's close, and is going the other half in at today's Dow just prior to the close at 3:59 EST or sooner if -500 from Wednesday's close happens earlier.
When there's blood.......streets........buy.
Ebola is as communicable as AIDS yet space suits fail to protect?
Ebola is the "blood in the streets" this time around (and shit and puke and corpses).
Blood in the stool is a problem too.
"Get to work trillion dollar medical complex."
What I fear most is a populace that is so easily frightened of dying of Ebola, while they speed past each other in their SUVS, 2 feet apart, every second of every day of their driving lives.
Or that Human beans that believe in the Holy Ghost, but not that the Jewish Mafia in New York controls their entire future moneywise, and is laughing at them every second of every day.
Or that 42% of the people think Hilary Rodman deserves to be a POTUS and that she will be the greatest thing to happen to this country since some savvy deal maker managed to buy Manhattan for a dozen beads.
Or that they give CONgress a 17% favorable rating while re-electing their own reps and senators 95% of the time.
We live in an irrational world, anyone attempting to superimpose some kind of Aristotelian logic on this template, is nuts.
Comte - I see no reason to hurry. I have said something a few times here on ZH which is this: I will look to buy equities in 2015. Attempting to time things perfectly tends to make one broke real fast.
Amen
Y'see now?
From down 250 to up over 120.
Sex, drugs, and Rock & Roll.
J B T F D Is my license plate number on the new Pagani.
Yes there is, a sleepy Yellen has a woken a worried lagarde and when confronted with their own crisis would rather not inflate their way out, but use a new form called austerity, something we here can not afford, but may well have to accept as everyone else does it. Which leaves us as the last bully on the block with no where to go with a rather good view from the cliff above.
"I know this is heresy here, but there is nothing that has changed that much in the last few days to account for the bottom falling out."
There never is a sign flashing to alert you before a crash. It comes out of nowhere. That said, every talking head will claim he or she called it after the fact.
Is Maria crying yet?
I'm just glad she moved to Fox.....she was really starting to look like hell on CNBC.
I was a tad concerned!
She looks a lot better now that I don't see her.
today is as good as any to begin the UN winding..
PLEASE let it be so!
P < P + I
Short much? ;-)
with all this shit going on Gold and Silver smashed down all morning, not one positive print at all, and constant USJPY bid
They have inert gold "contained" while Ebola runs amok.
Thanks be that banksters run the world.
Code Blue at the NYSE-patient needs an injection of QE stat!! Call Dr. Bernanke and Nurse Yellen!
OT
Tyler, come on, the EU Parliament is doing all this grilling of the appointed EU commission prior to election/rejection and you have not even one small article about them?
you have my address, if you want a draft just send me a message. plenty of things to laugh at, there
fonz, come back, with a new account if necessary. we still have an unfinished discussion. I'm sure I'd recognize you
I do not understand this 'blocking' of Fonz. This is worrying, as is the fact that whatever Tyler is posting we never see him commenting to make a point or correction to a post. This site has changed greatly. Why?
ebola fears
I don't have an answer to that, but I saw lately two Tyler points/corrections in the threads. but hey, I once asked him to name a price for ZH, and he replied: "moar"
ive only known tyler to take action on really racist stuff - and I never saw Fonz go into that territory. I am mystified. Is Fonz totally blocked or is he just pissed at tyler for erasing a post and on a self induced hiatus?
he did go into racially sensitive territory, one can argue whether it was right or not, but it was on the race subject
do you have a link to that? If yes, please. I'd hate to search the "Ferguson" articles myself, I try never to go there
no, obviously his original comment was removed, I was on at the same time but only saw him disappear, someone who saw what he said did mention it in another thread, dunno if it's still there and can't remember which thread it was
if you want to continue a discussion on a topic with him, maybe email him?
I'm sure there are guys here who have his contact
Memo to Tylers: Anyone who bans for 'rayciss' -- or for any opinion -- is a fucking pussy intimidated by the thought police.
I did not see the comments in question. I wish I had so that I could report on what they were. If Tyler has resorted to banning for an unapproved opinion, then it will mean that Tyler is a pussy and an oligarch tool, no better than PuffHo or any other Barky licker. I am wondering if fonz has now joined francis in the Hedge hypocrisy wall of shame. No journalist worthy of the name stoops so low.
Most definitely this should be discussed at large here. Deleting comments for content disapproved by the thought police? Let's discuss MOAR, then. Only government filth and corporate fags resort to silencing opinions they can't answer.
You come into my store and start talking racist shit you are out the door and on your ass. Why is an online forum any different? This is private property and we all agreed to the Ts and Cs.
That said, Sawyer was a douche. Fonz, no idea what he said, was much more levelheaded. On the other hand, he actually did request to have his own account deleted. Perhaps they were just really slow to take that action.
fascinating "...the Clacton by-election, where (alongside expectations) UKIP gained their first seat in UK Parliament. However, UKIP's share of the vote was far greater than forecast (60% vs. Conservative's 25%). Separately, the Henley & Middleton by-election cut Labour's lead over UKIP to just over 600 votes, raising fears that the anti-EU UKIP will gain a large portion of the votes in 2015's general election and could even form a coalition with another major party."
congrats to UKIP finally winning it's first seat. it was about time, after all those seats in the EU parliament. but forming a coaltion with another major party... which one? Cameron's Torys?
why don't Britons finally have a frank and honest discussion about the EU? The pro-EU side is even worse, they refuse to open their mouths
I don't think the son of the former Belgian fin-min works here anymore. Maybe he does and keeps a low profile but that was where the more interesting Europe articles came from and they are now gone.
Green shoots anyone?
Yes please!
Green shoots are so yesterday, the newer phrase is, "Harvest time", can't touch that.
Green shoots and he scores. The colors win! The colors win!
Hong Kong protests due to start in half an hour
Keynsians are quaking in their boots. They are being proven wrong.
scam is scam, its a Ponzi Maddofian binge. Its neither Keynesian nor Austrian.
clearly keynesian. Borrow and spend, borrow and spend, borrow and spend. By spending, I mean giving it away to the FSA, for free.
well, I stand corrected, it should read Madoffian...there, I stand by the rest.
Edward Quince, like a Zorro or a Superman : When the official figures are BB (not Brigitte Bardot), Don Diego de la Vega and Clark Kent. All insipid characters in reality, they become superhuman in cloak and dagger version.
Its an old trick in literature, like Edmond Dantes becomes Count of Monte Cristo to settle his acounts.
So, Quincy boy saved the Oligarchy world from ITS logical financial collapse all concocted by its scions-- at the expense of common man-- all the while Helicopter Ben played Goofy duck with common man's hard earned savings.
What an incredible pair !
Whose gonna write that story as a blockbuster novel and as a Hollywood movie?
I have a title for it : Six Fingers (the normal five are used to scam the Treasury (via its private boss the FED), the sixth is used to dildo the common man).
(BTW : Five fingers was an awesome spy movie.)
Six Finger Quincy-Ben !
Did it make his bulge look bigger
it seems most common men like getting dildoed. its too hard to compete or think for themselves. bread and circuses, er, food stamps and iGadgets.
Coffee...all over the fucking place.
With the prefab house they’ve cobbled for 7 yrs crumbling, will they demolish and build a solid foundation, or order vats of paper mache? Perhaps a new uptick rule, with shorting only at S&P 2000 or higher? Or, import the practices creating the USA’s unheralded boom to Europe?
It begins..... Satan's Sell signal was received loud and clear.
Socialist have now spent everyone else's "money".
Good luck finding mine.
edit: Socialists have now Leveraged everyone's money and borrowed to the fucking hilt.
Note: you can get the "Creature from Jekyll Island" for free on Archive.org.
I short the eshrif !
but i did not short the DIJA !
A COMEX default would be the Cherry on this Ice Cream Sunday....
Thats what i am looking for , the first public accusation of a guy stiffed on delivery from somewhere
I up arrowed you but surely you realize it's friday.
Jim Reid: "... a strongly performing US economy." Really? Not from where I sit, no matter what Obola says.
BTD
What......no F?
It doesn't seem like your heart is really in this.
The real correction will be Ebola or another epidemic wiping out 7 billion+ humans.
In the meantime, we can enjoy our fake wars, funded by fake money, propping up fake markets, by fake statesmen.
Magick. Smart money bugging/yachting out. Ebola MAINSTREAM express.
Espírito Santo Financial to File for Bankruptcy - NYTimes.com
Tumbling stock market no surprise here...
http://www.globaldeflationnews.com/sp-500-indexelliot-wave-update-for-we...
Word on the street is that Jack Yellen has been out of the office the last few days. She-hes been taking twerking lessons from Mila Cypress , will be back in full swing next week. Can't wait to watch the show!
I read that and it has placed a rather disturbing image in my mind. I'm frightened.
If you are not careful, you might become part of it.
Will we have a 800 lb. gorilla on bath salts and angel dust running around Wall St.? Inquiring minds want to know....
Tesla unveils new model, $120k base price. If we can get minimum wage to $15/hr for burger flippers, it will only cost them half a year's wages with a 7 year loan to buy one.
do I have to make a capitalist argument? fine: in a market based economy, there is always a producer catering to luxury items. which are exclusive (i.e. they exclude some from having them, usually by price). Inversely, there is always demand for exclusive/luxury items
in short, even if you would gift one Tesla to every human being on the planet, something else would immediately take over that trade, even if it's poop from a long dead dog of Paris Hilton with certificate
I've looked at the tesla there's no way to drop a small block in one when the battery goes ready for mortar.
I would start with a scooter first, you can always work your way up to manager and commute like everyone else does once ur makin the BIG bucks.
concerned about ZH?? it is of interest what Ghordius has posted, and I am at a loss as to why the AIG trial with witness's like H Paulson, Timmy G are talking about the greatest theft of a nations wealth in 08, and WHO got the fiat and who did not and why...is not covered HERE..old age perhaps , pay offs - who knows lets remember years ago we all wondered when the elite would have had enough of ZH shitting in punch bowl.
Hey! Here comes another ebola story!
I am at a loss as to why the AIG trial ...is not covered HERE...
I agree 100%. I'd hate to think time spent here is wasted, but what the heck? Everthing / everyone, (or however many Tylers / Bloombergs there are), has their price. Sad.
jmo.
waiting to buy exxon at usd 68.09 .... (no, not after a split)
waiting for $700 gold...
Don't hold your breath.
Put in an amount monthly and buy no matter what the price is.
Buy every month no matter the ups or downs. Sit tight. Wait for it to go stratospheric.
QED.
waiting for $700 gold...
Follower of the prophet Jon Nadler I see.
trillions on the "sidelines"
They don't call it smart money for nothing.
Code Blue at the NYSE-patient needs an injection of QE stat!! Call Dr. Bernanke and Nurse Yellen!
Where is Edward Quince when you need him? http://www.zerohedge.com/news/2014-10-09/meet-worlds-first-undercover-su...
I think the futures software is a bit on the fritz this morning.
I think the exchanges are just down a little bit or even flat.
9000 DAX!!
https://www.youtube.com/watch?v=SiMHTK15Pik
News like this makes me glad my money is parked in gold, ammo, and 100-can cases of sardines.
S&P500 went positive.
Goodwork ZH
Solutions! Obama can turn the sea of 30 hour a week jobs into 20 hour a week jobs. So you do three jobs instead of two to get your 60 hours in. Just think what that will do for the employment numbers! Sky high. Just what we need, more confidence boosters! C'mon folks, add your good ideas! We're from the citizenry and we're here to help!