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Carnage Continues Across European Stocks; EURUSD Surges Above 1.1500 As WTI Crude Tumbles To $38 Handle
Germany's DAX is now down 15% since the "China doesn't matter" devaluation began with most European borses down 3-5% from Friday's close as the day started off with a modest bounce only to test new lows. EURUSD is now up 500 pips in 4 days back to 7 month highs. European bond risk is surging with Portugal up 50bps since China's debacle began. And finally crude continues to get battered, now testing the $38 handle for the first time since Feb 09.
As the massive EURCNH carry trade contonues to be unwound, EUR surges higher to 7 month highs...not what Draghi ordered...
And as carry goes, so goes risk... European stocks are being battered...
And crude has collapsed through another big figure to the $38 handle...
And finally do not forget this is not money that will rotate from 'stocks' to 'bonds' this is credit-created positions via carry/repo that when liquidated simply disappear - there is no cash to move to another asset. That's the whole point - the asset inflation has been created by leveraged carry - and as is obvious now, the market emperor is wearing no clothese beneath the thin veneer of centrally planned smoke and mirrors.
Charts: Bloomberg
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HAPPY BLACK MONDAY YOU MOOKS!
Buy Bullets, Delivery and FOOD/WATER!!!
Then some scuba gear to find your shiny.
WHen you see the helicopter sell dollars.
RIPS
Wait -- why in God's name are people fleeing USD to go to EUR? They do realise that with this flood of immigrants across the Med -- it is the single best thing that could happen to the "right wing" parties in Europe -- who also want to tear the EUR apart -- right?
When this inverts, people are going to get slaughtered in their carry-trades.
Up next, China with the RRR and the Danish depeg which I have been betting heavily on for for a while. Shorting EUR vs Danish Krone is the cheapest ticket to the millionaires club one can buy right now.
Immigrant-skeptic Swedish Democrats became largest party in Sweden last week (25%), according to opinion polls. Quite the feat for a party that got less than 3% in the 2006 election. The other parties stick to protocol: they call them "racist" and refuse to work with them. You actually have Labor and Conservative supporting each other.....they will do anything to avoid listening to the people who question the wisdom of current immigration policies.
Yeup, the blowback here in Germany will be unbelieveable.
Due to post-war guilt -- Germany will be the last nation in Europe to "its okay send us all your poor illeterate brown people" until it too is overrun. Next elections are in 2017 -- at this current rate (assuming Turkey doesn't go the way of Syria) there will be 4 million "refugees" in Germany by the next elections, or about 5.5% of the total population.
If Turkey goes to Hell (which I think is becoming more likely by the day) that number will be double that. Eventually those that can still vote will abandon the SPD/Union/Grüne and start voting for the Right wing parties.
The Linke will self-destruct with their "moderates" in the party saying stuff like this:
https://www.youtube.com/watch?v=yfXhKY-ybA8
Portuguese bond spreads rise BWAHAHAHAHA
Gee golly, I guess having 100+ empty ghost cities was a fundamental indicator after all - whooooda thought it?
Oil down to $38? It looks like the Samson Option is working. That should pull the roof down on Russia. I propose that consequent destruction of the global economy be treated as collateral damage, and hence of little consequence.
Do I have to give a reason why I don't want someone in my home?
Sez who?
Seems simple enough, doesn't it?
People on the Left (die Linke) are starting to demand the government confiscate vacation houses & empty properties to house refugees. Its already started in a city called Tüblingen (and not by a Linke member a member of die Grünen*).
http://www.welt.de/politik/deutschland/article145362505/Notfalls-muss-ic...
Plans to expand this to other cities:
http://www.welt.de/wirtschaft/article145514865/Widerstand-gegen-Plan-Geb...
While things will stay ok for the next few weeks, come mid-October where overnight temperatures start dipping down into the 40°s F and under 10° C -- you'll start seeing building re-appropriation.
I imagine compensation will be minimal if any, damage done to the property will be almost impossible to be compensated for & property owners will still have to pay property tax at full rate while it is occupied.
I am currently working with people at work to get "Angemeldet" in all their houses so they cannot be labeled by the government as "vacant." It costs a few hundred EUR per year -- but worth it IMHO.
If you are German & reading this, and have multiple properties, you need to be registered in each & every Gemeinde/Bezirk where your properties are located. If not -- your property will be seen as Vacant by the Bund & when it gets cold -- expect to have new "renters."
* In Germany -- the Green party are affectionally called "Watermelons" meaning Green on the outside and Red on the inside.
Refugee Cost Explosion --
http://www.welt.de/wirtschaft/article145545353/Niemand-weiss-was-das-Flu...
Ah, the generosity of dispensing other people's property.
Those charitable minded took home to their own residences as many as they could first no doubt.
There is a very large difference between charity and expropriation.
What are the limits to this sort of expropriation?
A spare room?
A spare bed?
Square feet on the floor?
You/We/ALL should dispense with such 'leaders' by whatever means necessary before You?we/ALL end up thus:
https://www.youtube.com/watch?v=mq__Z-Z_Ofs
Its interesting to watch the political landscape change so quickly here.
People on the Left (so SPD) are begging the government not do this, as this is one of the only things that would get the average person -- no extremist -- out in front of their house with a weapon (other than Poland & Switzerland -- Germany is the most heavily armed civilian population in all of Europe) or a Molotov Cocktail.
The Right wing would be out of control. My fiance's dad (SPD/Green voter) got into a "fight" with my fiance's mom (his wife & another SPD/Green voter) and told her in so many words (because she wants to open up Germany's borders to every poor person on the planet)
"If you want another Kristelnacht -- Germany should do exactly what you want & keep taking in everyone."
He's right. And as things get more and more hostile to these other people in other European countries, more and more are going to come to Germany. If this isn't brought under control and quickly -- I just cannot imagine how south this will go.
But I can imagine how well it will go if the German government forces a German family with 3 teenage girls to take on 3 middle-eastern 20 year old men.
I'm getting a little burned out at politics lately., you are too heavly invested in jews, catholics, and the brits. Getting involved with the institutional bitches would surly be the end for you.
I'm sorry, when have I ever said anything about Jews, Catholics or the Brits?
You didn't, you ACTED like one, and yes, you will be sorry.
I acted like a Jew, a Catholic & and Brit -- all at the same time.
Your RX ran out huh?
Do the Christian Democrats support state sponsored "Squatters Rights"?
Also I though Germans keep their Guns locked in a Gun Club or an Arsenal... is that close to correct??
BTW I'm not sure where I would be in the 4-5 German Political Groups.
I remember a guy Named Fischer as Elected Minister in the 2000s, but he was said to have been in a Radical Extremist Group as a Youth or maybe he was Communist.
West Germany is worth study as so many twists in culture. Whatever happened after WWII must have been social engineering. Did Conrad Adenauer do the Social Engineering I wonder. Things like "We Germans are not prejudiced at all" could be an admirable Principal but was a kind of denial I think.
In the 1960-70s the Student Protests were saying the same people that got Germany into WWII were still in control of West Germany. Now I wonder if this would be traceable through corporations and banks.
One thing in German politics you have to remember is that being labeled a "Nazi" is the end of your career if you are in the big 5/6 political parties. Game over.
What gets you labeled a "Nazi" becomes a very important question.
Typically saying anything that could have also fit into one of Hitler's speeches normally qualifies.
So if a member of the CDU/CSU ("Union") says something like "Germany as a culture and society cannot handle any more refugees from North Africa. We have to start telling most of them no and sending most of them back." you will have a front page column story in the Zeit the next day "Is Max Mustermann a Nazi!?"
Why? Well German politicians cannot talk about German culture & society being a good thing, else you are a Nazi.
Moreover, he said "North Africa" and the Left would be screaming about could Germany take more refugees from Ukraine or Poland should the need arise.
If you are seeking asylum in Germany and are any race other than white, you will definitely get it, else the person who denied you is a Nazi as is any politician that supports this.
Thus, right now you have people in the main stream parties trying to look tough on the refugee deporting people all day long who come from the former Yougaslavia and the Ukraine -- but if you are brown or black you get to stay.
The German population is and will continue to sit on their hands due to political correctness until this becomes unbearable and people'S home start getting "confiscated" and subsequently destroyed, at which point there will be a politician who comes to power and when the Left get'S called a Nazi he'll either shrug his shoulders and say "sure you caught me" (scary version) or one that says "quit using this term to cover up your own failures" and thus the "Nazi" card will no longer be a thing in German politics, changing everything in the political dialogue overnight from international aide to domestic tax issues to EU membership.
It will be akin to when Chris Christy tried to envoke 9/11 in the GOP primary and got boo'ed. 9/11 is now no longer a poltical card to be played.
This is coming to Germany, and quickly.
The German shift to the Left the past 50 years is coming to an end. The German Left is committed to destroying German culture, traditions, community, and things like blonde hair and blue eyes. More and more "average" people in the German population are seeing this, and the political capital for such a politician described directly above is growing and growing and growing. Eventually someone will capitalize on it.
There is NO political solution sucker!!
Yeah, I don't get all of the details of what is happening on the ground in Germany regarding immigration, but it seems as though you're getting a bunch of immigrants who aren't too keen on assimilating into German culture. Start taking people's houses and making them still pay property tax, and people are going to stop caring about lables. While being labled as a racist in the US probably isn't as bad as being labled as a Nazi in Germany, one thing that I'll say is that the term 'racist' in the US has lost a lot of its punch due to people legitimately disagreeing with Obama's policies being called racist.
I was walking through the inner city of a city of 300,000 in Hessen called Gießen -- look it up. Copy/Paste into Google Maps.
Near the main bus stop -- there was not a single word of German being spoken, and hundreds of north african men spitting on the ground and whistling at the German women as they walk by in silence.
Germany -- like it always does (due to its homonogist/conformist culture) will sit on its hands longer than other groups -- but when there is a tipping point, all hell will break lose in all directions at one time.
I think the shift will start something like this --
A couple blonde haired blue-eyed girls get beaten & gang raped and many people who previously were just very conservative Union start voting for AfD or NPD, and to stem the flow the Union goes right trying to keep votes in place with words & no action, all the while the number of people keep increasing. As winter approaches empty buildings privately owned which are liveable will get "commissioned" for refugee use, and the owners deprived of market rent while still paying property tax. This will push Left leaning people into voting for parties that promise to "do" something, which will likely only be the Union and those right of them. The counter effect is the Lest-wing parties will become more extreme, and thus violent (as Leftiest always are). There will be many demonstrations in Germany, and counter demonstrations. As PEGIDA demonstrated -- these numbers were tens of thousands 6 months ago. Today we are talking hundreds of thousands. All the while the numbers continue to rise.
It'll turn into a pressure cooker, and you'll watch Germany either completely self-destruct or liberate itself from post-war guilt in a spectular fashion.
Thanks. Also wonder if the PKK Kurds I saw in 2000 are still in Germany after all this time. I suppose they must be.
I'm sitting here in Belgrade and watching this river of people passing trough. Asked -- they all want to go to Germany. And I feel sorry for my German friends.
But living in Berlin for few years in my 20s and having shitload of German friends, they used to be oblivious to what is happening and it certainly wasn't 'cool enough' to discuss immigration then. But know when I hear with some of them, I see small shift happening. Sure with shame and delicacy discussed (tipicaly German plus part of young intelligentsia)... but it's there. You can feel it, covert.
I am affraid once you guys get pissed. World witnessed, when white European people get mad/focused, it usually gets really really nasty. But Germans and Russians are special even among us. Push them too hard and...
Great post, and I did listen to that video with Gregor Gysi you linked to before. How is he better than a Nazi the way he talks? The man is verrückt.
Please e-mail me at input@gulfsand.com - I´d like to hear more about what is going on in Germany.
'Re-unification' may not have been the best idea.
Germany internalized and nurtured the reds from the East and it seems that much of their education/indoctrination during the DDR era might have been absorbed into the general political sphere.
Do you have an opinion on whether this might be the case to some extent?
Strangely enough the reports I read here in the US seem to indicate that the highest levels of anti-immigrant violence are in the former East..
I was in Berlin when The Wall fell.
At the time I felt that re-unification might not have been the best approach to amending relations; that the concept was romanticized and that many conflicting and unrealistic assumptions and expectations were attached...
I personally believe two things about reunification --
1) It was absolutely necessary for the survival of the German state. At the time of reunification the birth rate in the former West was very low and the birth rate in the former East was very high. Before the war the former East Germany (Prussia) was wealthy while the former West (Bavaria and what is now BaWu) were very poor. Due to industry fleeing socialism (e.g., BMW comes from Thüringen (a city called Eisenach -- not Bavaria and was originally EMW not BMW)) as much industry as possible could fled West in the final days of WWII. What was left in East Germany was packed up and sent to Russia. The Prussians (people from the former East Germany) -- apart from Socialism destryoing everything it touched -- for the most part -- didn't change their politics from before to after the war. They have been a big-government left leaning state ever since -- well forever. Trying to explain to a German why small government is a good thing is like talking to a wall. Its best to describe to whom the government owns its responsibility -- to the people within its borders or to people outside (aka the political "German Question" since WWII).
2) German reunification is not yet finished. Pull up Google maps and look up the following cities:
Görlitz
Guben
Frankfurt an der Oder
Szczecin
These are cities with a border running through them, which were for hundreds of years were German. For the past 150 years the American-Anglo-Saxon empire has been playing the Germans off against the Russians so as to never have to fight them together (imagine for a second WWII with Nazi Germany and the USSR on the same side). As soon as both peoples figure out they are much better off "together" (e.g., not fighting one another) than they are apart (e.g., a state of conflict) the balance of power in the world will change and change quickly as George Friedman from Stratfor noted earlier this year.
While this is all speculation and conjecture -- when the next economic collapse comes -- if Germany can escape the coming war by playing big Switzerland -- then German reunification will continue as in Europe there is a long long long long long long long long (e.g., every European war ever) tradition for the loser to give up territory to the victors.
I know I am stretching this out into a variety of different topics, but I say all this to say -- the best thing that can happen for Northern & Eastern Europe is a strong and independent Germany that gets along with them.
Too Long Didn't Read --
Socialism affected about 10% of the German population overall's voting habits -- everything else has stayed about the same. Reunicication was not only essential for a whole host of reasons (many many many PhD dissertation's have been written over the subject in many countries) -- but is a process. It isn't finished.
Interesting.
Thanks for sharing the insights.
Whos wisdom?
Exactly.
Its the general idea that wealthy European governments owe a larger duty of care to poor people from shithole countries than they do their own people.
Until you are on the wrong side of nature, then it's not so exactly, it's run for your life, SUCKER!!
What are you talking about?
I'm talkin about YOU, being in TROUBLE, now do you know what i'm takin about?
No, please enlighten me.
Because the priced in interest rate rise might not happen AND Greece is fixed (sarc).
I second that for the mooks!
Dax needs to feel the pain for having stripped Greece of its remaining marbles.
Mutti one day you will swim in the nude again !
I hope
Do not hope
the market breaks today.
[vote here]
to the upside?... (ducking)...
geez, it's a joke people...
If I were TD, I'd be more concerned with server capacity...this could be a banner-day for the Hedge in terms of hitcount.
I may pop some corn, watch fight club and let the good times roll.
Death to wall street, death to predatory finance and death to all that is DC...so mote it be.
Janus
post your comments early... or buy a can of spray paint and find a nice dumpster to editorialize on after the server pukes on TD's shoes... (just kidding collective durdens)...
yes sir paper justice has arrived.
When does the bond market start to collapse (where things actually start getting ugly)?
when the realization is affirmed that this is not a salvageable aberration and that this the whole thing is loooonnngggg...
Ah ok, thanks. Then it's a long way away... I mean it should have happened in 2008, right? - And yet here we are...
QE4 in 3-2-1...
they can try again (and most likely will) but inevitable is... well inevitable... someday...
i'm sure CNBC has a team of microphones waiting outside of Bullard's residence. Probably sending stalker emails to him..."Any comment mister bullard, anything to say, anything at all????"
This will probably be a good day for viewership on cnbc as well as ZH. Probably that last moment of clarity, serenity, before the sweet, sweet, warm embrace of death rushes over its rotting corpse.
I don't see a stick save from bullard. The QE4 hint last fall was an easy one off jawbone exercise to stop the ebola selling. Easy enough. The FOMC has to evaluate whether they send someone out to hint at QE4 but the market doesn't care. What if, people will use it to sell into. Ultimate bull trap. Then the bazooka is empty. Then they got to go about and start changing the rules again and get creative with their extraordinary open operations.
They are going to lie tightly curled up in a ball in the fetal position sucking their thumbs because they know the game is up. OR.
They will print MOAR money. One or the other.
Nikkei 225 hit its all time high in 1989 and hasn't returned.
But you're a long term investor...
Right?
Watch gas prices collapse:
http://www.gasbuddy.com/Charts
http://www.gasbuddy.com/GasPriceMap
$US per gallon... now, what is a gallon for you guys in the US? Here in the UK it's 4.54 Liters (imperial gallon). Is yours something like 3.79 Liters? If so...:
In the UK we pay the equivalent of ~$6.8 per US gallon! (today's exchange rate e.t.c.) for 95 Octane... more for 'premium'! I think over 50% of the cost in UK is tax that goes to .gov. - Our prices are close to a floor without a reduction in tax 'fuel duty'...
Think yourselves lucky.. although the US is quite a bit bigger, so maybe you guys drive a tad few more miles...
Anyway, we're all f*cked sooner or later...
Peace.
50%?
Try 80% (duty + VAT)
not just the UK is high gas but virtually all of western europe and its been that way for decades. I'm not sure its all because of taxes though.
Here in SoCal gas/gal tax is hovering very close to $1/gallon. Just about everyone drives here. And the buffoons are trying to add to that tax to fix the roads that are falling apart. I have driven up dirt roads in my lowered roadster and its easier than some of what people here would call roads.
Thats the difference, the whole UK could fit into Texas with room left over.
Cheap petrol, but you need three times as much.
Should the price go down for an appreciable time it won't last as taxes will be raised. Nothing goes down and stays there when govt around.
The UK stock market reached nearly 7000 in 1999 which is over 10,000 in todays money.
It has never even got close to that again.
it is ALL STAGED and working as intended. so beware cos you ve seen nothign yet.
Out of control.
Markets are FUBAR.
Doesn't look that uncontrolled to me, the rest of the world doesn't live on Eastern Standard Time and appears to be playing catch up, as opposed to taking the lead downward. Futures are 150/15 off the lows, so the Fed could engineer a dead cat bounce relatively cheaply, the question is whether they can turn a dead cat bounce into a proper ramp and change the narrative...
Out at close today, or close tomorrow?
That is the question for 401(k) folks.
Chose one of the two or ride it all the way down like Major Kong in Dr. Strangelove.
If someone enters a sell order (or a buy order) in their 401(k) this morning, when does it actually get executed? The immediate impact of retirement accounts is limited structurally both by virtue of speed (or lack thereof) and lack of diversity since plan options tend to be limited to a handful stock and/or bond mutual funds and even more unappealing (and gated) money market fund options... which facilitates FED manipulation by dumping on the e-mini ask stack. The danger is any change to the inclination of institutional money managers who can liquidate myriad places at high speed, particularly since we are right at the knife edge between technical bull and bear land, so unlike most days, there are consequences, on a longer timeline, to what the FED does (or doesn't do) today.
Don't get exhausted running away from that mouse.
OUCH, that fart just hurt my asshole.
"If someone enters a sell order (or a buy order) in their 401(k) this morning, when does it actually get executed?"
Most 401k/403b plans use mutual funds. They work on daily valuation, so the trade would not execute until after the market closes today.
If they use ETF funds (becoming mre common, but certainly not the norm) they would trade typically sometime in the early afternoon (say, 2pm) if you get your order in before some arbitrary time of the day (say, 11am), otherwise they wouldn't trade until 2pm the following day.
Not likely. They have no tools to change the narrative with. Even QE4 would not stop this crash from moving forward. In fact, QE4 would only be an open admission by the Fed that the last three QEs were an outright failure which would cause further negative market psychology. There is NO turning back from this one.
Either the FED controls the markets or big money controls the markets. If the Fed actually controls the markets, then there's not much to discuss. But if big money controls the markets, what makes you think big money's thinking mirrors that of the ZH peanut gallery? Regardless, I think whatever justification for a position we can imagine, we are just as utterly irrelevant and inconsequential in determining the actual path and timeline forward as the blowhards on CNBS.
That's what the Chinese Central Committee thought about the Shanghai Composite a couple weeks ago---yet down another 8.49% today.
Running with a false premise never got anyone, anywhere, fast, or in your case, speedy like.
And being in denial about it only doubles your troubles, or maybe trebles them.
John Travolta: "EUR/USD, you gotta come outta the closet, ho mah gaahd"
http://southpark.cc.com/clips/155131/john-travolta-feels-safe-in-the-closet
Who in the fuck would upvote my shitty joke but downvote your clip? Some serious fuckwittery afoot, Headbanger.
black is the old green...
DOOM ON, better short everything for 1month
Isn't this an indictment of our entire American society? Well... you can do what you want to us... but we're not going to sit here... and listen to you badmouth the United States of America! Gentlemen!
"....when the Germans bombed Pearl Harbor..."
This year we'll grab the bull by the balls...
This market is a gelded "bull", bitchez.
-Mr. Yellen
LOL, a 'Steer' Market! It's the perfect description of what we've been experiencing since 2009!
You can't worry forever about your mistakes. You fucked up. You trusted us.
Dow futures down over 300 this morning. Next possible support 16000. Talking heads still calling it a correction. Oil $38.80. Last time this happened we all know where we ended. Best advice don't stand in the way of a speeding train.
http://www.cnbc.com/pre-markets/
Over how many days does a "crash" transpire?
Look at history.
As long as a year, or a couple months, or as short as a couple weeks.
We are on the third day.
Accept the obvious and do something.
Yeah... Like better glue...
doing something ... I bought two giant 50 pound sacks of popcorn...
you think the show will last that long before we need to head to the exits?
I think he intends to sell it by the cup and leave before the cartoon is finished...
bingo!!! ding ding ding...
give that man a Phd in economics... and free popcorn...
"doing something ... I bought two giant 50 pound sacks of popcorn..."
Monsanto thanks you. Good work
I ain't gonna' eat it .. that would be... crazy...
gas is almost below $2 in NJ...this is good right?
more people benefit from $2 gas then they did from the S&P moving up 3000 points in the last year.
and they pump if for you at that price?
The hookers, too.
Indeed they do. However our property taxes are insane. I'd rather spend $3 on gas and have NC or FL property taxes
More than half of those property taxes are to pay for public schools.
Make people pay the full freight for the first two children and they won't have a nickel or think of having sex.
This crazy shit with 3 or 5 cars parked in front of McMansions would end immediately if they had to pay the school marm out of pocket.
If oil doesn't go up BlackRock and JPM might not get their dividend check and that is WAY more important than all the poor people in the world saving a few bucks. /s
The other dad I paid $2.11 at Wawa. I thought I was seeing things. Then once they were done pumping, I heard them say they were taking it down more.
Let's be honest, they didn't do all that intervention to let it all go to hell now.
After the muppets have been skinned the artillery will come out so the imporant people are allowed to make their money again.
I bought a defibrillation machine vending machine for the perma-bulls that suck their coffee at my morning hang-out...
should have my recoup in about two weeks - then blue skies... it only accepts real silver coins and jewelry (by weight)...
https://research.stlouisfed.org/fred2/series/M1V
The economy has collapsed, and now is collapsing more.
"IT'S OVER FOLKS!: The credit bubble has been identified, recognized and “pricked”, the equity markets are only a symptom.
Do not be fooled by any strength this coming week, it should be used to raise cash.
As September moves in, the September-October timeframe looks like a disaster.
What may start out as circuit breakers being hit now, will ultimately be the plugs yanked out over the next couple of months.
I believe a market closure is in our near term future."
"Jim Willie: US Dollar Will Not Survive 2015!"
http://www.silverdoctors.com
Collapsed-er
These are the losses in the conventional markets.
The ten times global GDP derivatives market should leverage up thee losses considerably.
From experience:
James Rickards in Currency Wars gives some figures for the loss magnification of complex financial instruments/derivatives in 2008.
Losses from sub-prime - less than $300 billion
With derivative amplification - over $6 trillion
So multiply losses by 20 for derivative magnification.
oh boy!... we get to rubberneck a car carsh, a train wreck AND the plague...
popcorn anyone?...
on second thought, a taco truck might be a better investment for this spectator sport...
Long roach coaches.
I've just been reading about the migrant explosion across europe and the strain they're putting on the system. I'm guessing europeans are starting to think the Donald may be on to something when he talks about building a wall.
Thanks to the US destroying country after country. Yet another way to 'Fuck the EU'. Maybe the EU should invoke the Pottery Barn Rule and ship them all to the US.
Everything is just fine, until it isn't. Then suddenly people kill each other over a ham sandwich.
I thought I told you NOT. To touch. MY ham sandwich.
Looks like I picked the wrong day to quit sniffing glue...
https://www.youtube.com/watch?v=VmW-ScmGRMA
Aussie market about to break 5000 on the downside. Dropped another 213 today or 4.3% - everyone is 'stunned' at this 'shocking' result hahaha (well ya gotta laugh).
The irony is the talking heads over here are using phrases like "well the US market along with others was terribly over valued and has been propped up for some time, this is having a flow on effect on our markets" along with stats like "Stocks have only ever been this expensive twice in history, both times resulted in rather dramatic falls". Sooo *why weren't you fuckers saying this to the sheeple before* as usual everyone is all in the know about the negative economic realities that were staring them in the face *after* a big fall happens.
Shucks, and I was just starting to believe in the "peak oil" thing. And how odd...Peak oil came from the same gang as "gold to the moon".
You gotta have the Ace of Spades if you want to survive the Monopolists control over your lifestyle.
Call me a socialist, but I think we need a movement of people demanding an Interest Rate on their Savings Accounts at the very least OR a Certificate of Deposit Program with 4%-5% payoff.
People will say that is not how interest Rates are set.
I say the system is whatever we Demand it to be.
They are printing money through factional reserve banking and through hypothication under the authority of State or Federal Banking Charters... But they create so much money (USD) that we don't even get told how much, there is no transparency over Private Banking.
Futures now down greater than Friday's drop as a percentage.
Yup. Derivatives are gonna make this turd stink like never before....