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European Stocks Plunge, Enter Correction (-11% From Record Highs)
Greece (-6.5% today), Italy (-4.4%), Spain (-3.6%), and Portugal (-3.2%) all saw major stock price collapses today dragging the broad European Stoxx 600 index down 11.4% from its highs just 18 days ago... All European stock indices are now red for 2014
All European national stock indices are red YTD...
Charts: Bloomberg
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What? No GDP boosting Ebola there yet?
Mortuary stocks up 500%!
Kill! Kill! Kill!
Think anyone will finally admit that economic growth comes from savings, and not from artificially repressed interest rates, and that maybe punishing those same savers with ZIRP is not a good thing?
I feel like Steve Martin as the Medieval Doctor on SNL:
Joan: You charlatan! [....] Why don't you admit it! You don't know what you're doing!
Theodoric of York: [ steps toward the camera ] Wait a minute. Perhaps she's right. Perhaps I've been wrong to blindly folow the medical financial traditions and superstitions of past centuries. Maybe we barbers central bankers should test these assumptions analytically, through experimentation and a "scientific method". Maybe this scientific method could be extended to other fields of learning: the natural sciences, art, architecture, navigation. Perhaps I could lead the way to a new age, an age of rebirth, a Renaissance! [ thinks for a minute ] Naaaaaahhh!
I dont know which is freaking me out more... These charts or the fact I'm a Dallas resident.
There is always hope.
Per istam sanctan unctionem et suam piissimam misericordiam, indulgeat tibi Dominus quidquid per (visum, audtiotum, odorátum, gustum et locutiónem, tactum, gressum deliquisti.)
http://www.fisheaters.com/unction.html
I’m sorry, I just couldn’t resist a little black humor on such a fun day. :-)
long 12ga. 2-3/4" OO buck
Whew!! What a day bitchez
"Well, isn't that just special"---in the voice of the SNL "church lady".
This is porno for preppers.
25,
Yep the big orgasam scene is about here......
Newest Peter Schiff Videocast: https://www.youtube.com/watch?v=c7X9f5nmNg8
And yes it's about Gold.
Timberrrrrr!!!
I wonder what this financial calamity is doing to derivitive trades.
I sure hope we don't find out. Since these are non-transparent; business secrets of the big banks; if they do make a splash in the news it's not going to smell nice.
Quick, trash the Euro!
To whom is this addressed ? Those "in charge" are already doing splendidly; did you think they needed help ?
Ummm... let me check my positions...
oh ya, I don't have any!!
Draghi: Necronomy is fine! Don't need no stinkin' QE!
..... Fundamentals good! Unemployment only 5.9%! GDP growth is positive! Inflation nowhere in sight! if you like your doctor you can keep your doctor! Ebola is not easily contagious! You can't catch Ebola from sitting next to anybody on a bus! QE is economic stimulus! ISIS is a JV team! The emails crashed, can't get the information!
Necroeconomicon
gwar5
Yeah, Ive never eaten so much popcorn as I have in the last 12 hours or so. Talk about a shitshow coming in from all directions.
An escalator on the way up, an elevator on the way down.
The Western world is falling fast, it's getting colder & colder out there. Dow under 16,000 @_@ Get to work Yellen!
Seamus Coffey a neo liberal cork based economist that publishes data on the Irish economy admits “the economy in Ireland” (the conduit economy) is growing but “the irish economy” we see around us is not.
In fact its much worse then that – the true Irish economy continues to shrink according to consumption levels as published in the official national accounts.
We can see that the conduit rentier economy of ireland has been feeding off the fat and muscle tissues of ireland for many decades and is now biting into its heart muscle.
http://www.irisheconomy.ie/index.php/2014/10/15/budget-2015/#comment-1473708
I really appreciate your posts; they are so reality based and informative; I hope we have more of them in the future.
I find no satisfaction in being right. I feel anger.
It may a long ugly road ahead, my friends and even if you are prepared it may be bad.
How the european market state operates is pretty simple in many respects.
In extracts purchasing power from people and dumps this new surplus into high end corporate products and the like.
Almost no basic secondary production to service local demand happens within euro conduit economies.
There function is to serve as mere hinterlands of financial capitals who dump surplus capital goods and labour within these jurisdictions and call it "growth"
We get these socialist programmes to manage the extreme scarcity but we get no social credit (return of purchasing power)
The european production distribution and consumption chain ( i.e.the industrial system) has imploded as a result of this extreme top down malice directed primarly from London.
Economic colonialism; directed from London; what an amazing new idea. /sa. Fucking Limey Bastards.
http://www.economic-undertow.com/wp-content/uploads/2011/10/Flow-of-funds-23.png
We can see how the rentier system operates in Ireland with the new privatised water rent (if you can charge people for water in Ireland you can charge for anything - its a test case of extraction)
The local estate agents (Dublin government ) in order to calm social unrest bring out a tax credit to reduce opposition
But the flow of funds continues towards rentiers based in some financial capital or island. (see steve from Virginas diagram above)
A operation once done at a local level (say at city corporation level) is now extracted out of the domestic ether along with ever more purchasing power.
Mid level system managers who manage this scaricty system and solve various non physical problems then get bank credit to drive a Merc (destroying capital needed for basic services before it can be effectively used)
The demonic scarcity merchants can then claim there is no capital.......for investment.