This page has been archived and commenting is disabled.
Another Late Day Dumpfest Ends Worst Thanksgiving Week Ever For Stocks
Stocks plunged at the close for the third day in a row to cap the worst Thanksgiving week ever. US equities seemed in a world of their own for much of the day - especially financials - as all the hope and rumors faded and clearly a large number wanted to be flat or short into the weekend. Across a broad basket of risk assets (CONTEXT), today's equity rally and selloff was pure emotional overshoot and correction as we closed back at reality. HYG once again led the derisking way and credit underperformed equity until the late-day equity sell-off converged them once again. What has been most notable this week - particularly the last day or so, has been the sell-off in Treasuries. The concerns that European entities are repatriating anything and everything should be very worrisome and the volume into the ES close suggests that fear is growing.
CONTEXT was less ebullient though was bid today as broad risk assets moved up on hope and then rolled over on reality once again. The factors were much less correlated than normal - especially treasuries - but the incredible correction back to sanity into the close was quite surprising nevertheless in its relative exactness. We think the lower correlation is also a factor of technical flows and worry that we are heading towards some break that could lead to significant outflows from seemingly low risk trades - something to watch.
Treasury performance today was entirely odd given the sell-off of the afternoon and the relative strength until the last day downgrade of Belgium in EURUSD also suggests that there was heavy repatriation of foreign assets.
Equity and Credit were generally in sync today but HYG led the way once again. The 4th day in a row where HYG was the clear beta leader (red ovals) which fits with the thesis of ETF-stuffing that we have been effusively discussing for a few weeks. Given high-yield credit's further deterioration, we have adjusted our S&P 500 cash index fair-value to 1135 and while we are as close to fair between equity and credit (as equity has snapped back to reality) as we have been in over a month, we suspect if sustained pressure from HYG pushes into secondary HY bonds, credit and equity will repeat the pattern on 2008 and tumble together as if riding an illiquid slip'n'slide.
Its admittedly thin trading after-hours but the major US financials have given up all of their gains with MS, WFC, AMEX, and GE all practically unch and GS and BofA dropping off.
FX markets were a one way street this week as EUR-based flows drove USD strength in almost a straight line - admittedly with some vol - with DXY up over 2.1% on the week and AUD down over 3% against the USD. Finally, into the close, commodities generally sold off quite hard - fully retracing the SNB/Greece 'good-news-silliness' chatter - with Oil and Silver the craziest. What was very notable was the last minute rally in Oil into the close - war premia? Gold modestly underperformed the USD on the week while liquidation appeared more the moves for Silver and Copper.
The week in Europe was clearly the main driver (and rightly so) and is evident in the disconnects this week in European credit and equity. Financials closed just of their wides of the week while the rally into the EU close (well before today's ugliness in US) was led by Main (not XOver) suggesting it was much less risk-on than it might appear. Equities outperformed today - once again seemingly in a world of their own - and given the weak close in the US, we would expect this gap to fill on Sunday's open (as we have seen again and again).
Pete Tchir, of TF Market Advisors, sums the day's headlines in Europe up nicely:
The only logical conclusion is that we are further away from a solution or agreement in Europe than we have been in a long time. The "Grand Plan" has failed and this time, it is not a matter of creating "bigger and better" versions of prior plans, they need to do something new. Germany in particular will not relent on "printing" until a real, credible, and implementable plan is on the table. I think they are weeks away from that. In the meantime expect support for European sovereign debt to erode. Italian and Spanish debt are dangerous, but as shorts take some profit there at these yields, they will step up positions in Belgium, France, and probably Germany.
The best thing Europe could do is impose some old school "children" rules on the politicians, finance ministers, and various government employees. They should be told 1) Children are meant to be seen, not heard, and 2) If you have nothing good to say, then don't say anything. There is enough bad news out there without people like Mersch taking the time to speak. Would it be that hard to say Draghi is only one allowed to comment on ECB at this stage? I'm bearish and thankful to Mersch, but really, what was the point of that?
Have a great weekend and enjoy the holiday, and get some rest, because this is likely to be a December to remember.
Charts: Bloomberg
»
- 14925 reads
- Printer-friendly version
- Send to friend
- advertisements -
i need mah hopioum fix
Retail black friday stuff will probably be massaged for Monday morning.
Some insightful comment from Al Jazeera on the deepending Eurozone Crisis, for which Black Friday is just a distraction.
Dow Jones TV - http://djia.tv
Black Fryday is raciss anywayz
Believe dat!
I ain't painting my face for nobody.
That's Kwanzaa Friday, or somethng. Or maybe Holiday Friday. Not to be confused with Holiday Hotel
http://www.youtube.com/watch?v=2U0TT9nSz3I
Excellent piece.
Sadly the dumb Europeans, as well as other western countries, have been bankrupted by Al Jeezherah's emigrating/invading muslims. One of them has bankrupted America.
but - but - nobody wanted to clean the toilets at the airports. so we brought one, and he brought the wife, and mamma and papa, and the 5 kids.......
it was fair exchange.
And feed and house, to clothe them all on shit wages to boot.
Something must be truly fucked up when two of us cannot make it working minimum wage and debt free....
Freddie: Oh for Pete's sake. The problems started in 1913; got wind in their sails in the early 1960s and we were propelled into stupidity by the repeal of Glass-Stegall. No Muslims involved. Just socialist-thinking politicians and cronyism.
Frankly, we will soon see that our own banks will have done vastly more harm than 9/11, and far more people will die as a result. We'll spend a trillion to fiddle with Iraq while our regulators stand by and analyze how the cows got out of the barn door.
What a mixed-up set of priorities.
I agree with your point but also, probably, you noticed that all big and fameous economist alarming about western societies getting older and imidiate need to change demographics to cope with so called "entitlements". All those gov's adopted policy of allowing much bigger immigration. Where all those people are coming from? Do they import people who are ready to be assimilated into western societies at once or they need some time like generation or 2 to get absorbed? What are the cost of such policies, monetary and social? Maybe they should focus on their own populations and somehow encourage citizens to have more kids, oh yes, it needs some more "entitlements" as most contributors of this site call them.
Everything will be 50% off next week.
http://www.wantchinatimes.com/news-subclass-cnt.aspx?cid=1202&MainCatID=12&id=20111125000053
I continue to price in disaster, one silver coin at a time!
i love it when silver goes on sale!
Me too. I'm planning on loading up when it hits $3 / oz.
You misspelled $30 and you'll be lucky if it makes it that far
That would be $3.00, as in 3 dollars.
oops, you put a decimal (.) in there
Good luck with that.
I am a ZH'er and I care not for luck, I have fear, mathematics and millions of momos loose on the range!
And most likely, I've kicked your ass for the last 8 years running.
warning: deflationist 'tard alert
This tard is sitting pretty.
in Mommy's basement, as all tards do...
silver 11-24-03 = $5.24
silver 11-24-11 = $31.87
hmmmm...
I've been buying since $14/oz myself. But if I would have continued that coin collection I started when I was seven years old I would be a thirty-three year old retiree now!
yes, i wish i'd bought that low too. i only brought up the 11-24-03 silver price because monkey was using the 8 year timeline.. but i'll buy silver and gold no matter the US$ pricetag, as long as i can get my hands on it. i just worry about attempted confiscation someday
By the time they are worrying about taking a couple coins and bars off of private citizen's hands (and I don't doubt it will come to that) they will be done anyways.
Game over for Benny and the boys.
their "game over" can't happen soon enough for me... i'm so tired
Momo's and hedge fund managers "on the range?" You mean the rifle range and they are the targets? Nice thought.
More along the lines of a combustion engine requires an accelerant to burn.
The Bernank has promised ZIRP through at least 2013.
And the market has promised doom before 2013 as a result of the Bernank
Look...!
The Monkey learned to press the green arrow 3 times.
I agree with Monkey if Bernanke fails with inflation. Also if Ron Paul wins we will get strong dollar, weak commodities.
If Ron Paul wins that will be a good thing but nothing will save the US Dollar at this point or restore the faith that has been broken over the past three decades.
I disagree about dollar, but also forgot of war. War changes equation.
Ron Paul has pretty much said he wants to kill the dollar as one of his central talking points. Of course he was more political about it, but that's what abolishing legal tender laws would do.
It will never see 30 again.
If it does....
if that happens early next week, maybe you will be able to trade straight across for yer BAC stock, you little monkey!
You would mean my BAC shorts.
Eat my BAC shorts money brains.
out of nowhere.
hey, at times the second quote gives me great insight. y;o
~//~
Fight Club-
Tyler: Like a monkey ready to be shot into space. [Tyler slaps new recruit in the back of his freshly shaven head] Space monkey. Ready to sacrifice himself for the greater good.
Tyler2 (Narrator): Trapped inside this clockwork of space monkeys.
So does the Obamarama... did you see his Thanksgiving video wow..???
Hope and Change from our beloved muslim.
Muslim, Jew, nigga. You guys who like the label to pull down, only pull down yourself. I'm guessing also over 50... at least over 50, probably 70. These are words those from the old, small minded generation holds to for sense of worth.
Most muslim seem pretty nice people.
they are really nice. bang your forehead on the carpet until you have a big bump - and they will like you more. if you are female and fancy scarves and clitoral removal - please move to north africa. besides - the little bump doesn't do you much good? in fact - please move there. north africa preferred. i'm sure you will be well received. and if you are non- muslim - i'm very sure they will allow you to start opening up a storefront with your preferred religion and practice that. infact - they might even be dumb enough to subsidize it.
Not the fundamentalist. Fundamentalist of any religion are crazy. Look at Pentacostal here, just as crazy.
"if you are female and fancy scarves and clitoral removal"
And many people in the US are no different. Circumcision does the same thing, only to males. It reduces sexual pleasure. Something that is supposed to appease (the) God(s). Talk about hypocrisy. If you live in a glass house ...
Sooooooooooooooo, over 50= small minded and prejudiced? Yeah, people who use labels to argue a point are sooooooooo stupid. Right?
My writing is not that great. This is what I mean, it seems that many I meet from old generation speak prejudice against Jew, Muslim, black in everyday language. Of course not all older generation, but many.
@whstilblwr
I am 21. Since the U.S. is a secular nation by Constitutional inception, I care not what the religion or personal set of beliefs our Prez might subscribe. It is that fact he is a damned liar about such truths (including not limited to religious beliefs, school records, grades, birth certificate, parents alligence and so forth). We have had fakers in the Oval Office for the majority of the previous century. And today we are the better for it today how exactly?
I agree, but calling him muslim, gives muslim bad name. LOL.
All muslims, extremists or not, by the doctrines they embrace, are anti-semites(not to mention anti-Christian). And have been long before there was an Israel to blame for that.
Not sure Muslim give a pass to the nice Jews or the nice Christians, either.
How does that cause you to then say that most seem "nice", you, who judge on the basis of tolerance for all?
Yeah, right. Except for the little grain of sand in the gear of your theory, that is that muslims come from the original semites while most jews nowadays are khazars. What's your point again?
There are gangs of extremists, and that is danger. Would you want the evangelicals to rule your city?
lucky for the markets reality hasn't been priced in, past historal performance, or lack thereof, notwithstanding.
only a matter of time.....
And Banks and REITs manage to keep in the green. Of course.
They forgot about the early close.....
Happy black Friday---.. and RED friday - must be windy on the set - http://hedge.ly/gFWVSm
Does anyone still believe in Santa Claus and a rally for 2011? Pahleeze don't tell me there is no Santa. What will I do with all this milk and cookies for him and his Elves?
"What will I do with all this milk and cookies for him and his Elves?"
Steven Cohen is in the market for a 5th chin. Flip your milk&cookies for some insider info and make a fortune.
Looks like you forgot to get the memo. No more Santa, only unicorns and Skittles. Unicorns don't do milk and cookies. Nice knowing you...
Fucking ES took a plunge to 1149 from 1171 intraday high. 22 handle plunge intraday what a fun market
I held through the BS at 12:40 pm.. pulled the trigger on 4 positions at 12:58 pm...
Machines took it down 8 points from 12:59 to AH 1:05.
I made a few bucks, but it's an ugly way to do it.
I plan to be out of this stupidity at about S&P 750 and just tend to the stash.
Nice move. For longer ( weeks) swing trades i use SDS or SSO, fucking ES is too much for me LOL
Don't forget the rally from the lows overnight to get us to the highs
worst ever
The worstest.
even More'r worster
Gloom and doom for Fraud Street.
the beat goes on
http://www.youtube.com/watch?v=umrp1tIBY8Q
"It's beginning to look a lot like Christmas....2008."
BWAhh haah haaaa haaa!
That is the New Christmas Song for all!
Still laughing.
Opposite the TLT is the TBT.
Treasuries were bound to sell off, the long bond was at its high weeks ago.
Global bond sell-off is just getting started.
This will get very interesting very quickly...
Bam_Man from Mish's blog, 3 years ago?
If bonds are your thing take a look at this:
"On December 15, 2010, in the GEAB N°50, LEAP/E2020 anticipated the explosion of Western government debt (1) in the second half of 2011. We were then describing a process that would start with the European government debt crisis and then set fire to the heart of the global financial system, namely US federal debt"
http://www.leap2020.eu/GEAB-N-56-Special-Summer-2011-is-available-Global-systemic-crisis-Last-warning-before-the-Autumn-2011-shock-when-15_a6679.html
actually TBT is 2x (don't know 1x); been waiting for the fookin' BOTTOM, but asleep at the wheel today. Shit. TBT parallels Dow last 10 days (down)... DIVERGENCE mid-day Wed. My question is: just a blip, or do I jump in?
TBT was great coming out of the recession scare last year. This time it's the real thing. If your apocolyptic in general, short financials and small caps.
got those....looking to "diversify" (ha)
Then look for a mini selloff and go long until things close in on capitulation in 2012 - then you can short to your heart's desire.
In terms of the weekly chart, TLT would have topped out and will see a lengthy correction lasting 23 - 25 weeks's time. The high was in September. The last 2 corrections took that long, and saw the 89-week EMA. The TBT should be at its ralling point. Options activity in both should be bearing that out.
No justification for saying TBT is illiquid, it trades ~4m. units a day.
Let's check back and compare notes a few weeks from now. It's generally not a good time to short treasuries when the economy is about to fall off a cliff.
"About to fall off a cliff" were you asleep the last 3 years or something? The shit sandwich never got taken off our plates they've just been adding more slices to it the whole time.
In the words of ECRI, "if you think this is a bad economy, you haven't seen anything yet".
True, you can never tell before hand. Especially since there's no guarantee TBT will trade according to its 2X title.
At best, TBT might be a decent swing trade (like today). We probably get a few more weeks of decent data. Problem is, if you're holding short when the lights go out in Europe, you're gonna take a mighty beating.
I'm thinking that since the inverse correlation apparently does not apply between European equities and treasuries, that the same must be true for the U.S.
Right now - there is really only one hiding place, and that is the US dollar. Why would I buy a bund knowing the currency may bite the dust in a few more nanoseconds?
You would avoid U.S. Dollar - denominated assets because the discount rate can go negative, or due to negative nominal interest rates.
TZA is the direxions X3 small cap bear if you are looking for it.
TBT, why would you bother? Unless trading in small 1000 block or less trades, the volume isn't useful to trade in. Shorting treasuries though is like shooting ducks in a barrel.
Keep the stops in kids, x2 and x3 can spin on a dime. Use trailing stop loss if chasing for the day. Make sure all positions are closed by friday.
Not so sure about that. I think it has at least 50 more bps before this cycle is finished.
Haha....Go long Pepper Spray.
OWS protesters are still takin' time off to shop for trinkets and video games. Maybe the retail numbers will get brought to you like all the other economic statistics Benny the B and his minions bring you.
Put on the 'Meat Ponchos'....
http://latimesblogs.latimes.com/lanow/2011/11/at-wal-mart-pepper-spray-attack-triggered-chaos-screaming.html
I'll raise your pepper spray for $2 waffle irons and a riot.
http://www.deathandtaxesmag.com/163434/black-friday-update-watch-a-walma...
Commodities getting destroyed, everybody and their brother is dumping stocks and hard assets and piling into U.S. Paper.
DBA closed at the low of the day, GLD and SLV sitting on a cliff edge.
The US long bond is down more than a point-and-a-half today, you imbecile.
Are you here strictly to provide comic relief?
Down today, but well up for the week. 7 year auction was A+.
Rodgers: "Commodities sell off is fake"
Are we living in a "new era" again of fake liquidatons?
Silvers chart looks awful, and the gold miners are down in one of the biggest non-confirmations ever.
Deflationists are about to chalk up a big unexpected win.
Yes, when the market moves decisively against your well-publicized positions -- claim that "the prices are fake".
Hilarious!
Unexpected? Not by the deflationists.
That beautiful paper. It makes me feel so good. Abe Lincoln that magnificent bastard is a good looking man
It's looking better every day bro.
Well, one commodity still holding up relatively well:
http://www.oilbull.com/oil-chart/
Gee, I wonder why?
"RobotTrader"...
Call me foolish or whatever...Got food, water and anything I thought I
would need, if and when the "S should HTF...I refuse to be scared out!
Patience, is a virtue.
We broke the old 1972 record!!
And back then there was serious sh*t going down
Serious shit going down right now. The most serious shit anyone on this forum has seen in their lifetime. Or even read about, for that matter.
Tea Party retaliates against OWS with "BUYcott Black Friday"
Propaganda wars
NFLX down almost 7% today. At this rate they'll be lucky to be trading at $10 this time next year.
No joke, they are probably going down to BAC type single digits. I have been shorting this crap stock / company since it was $120, and the best part is all the positive MSM articles that came out week after week trying to counteract the stocks implosion, trying to keep the sheep in while the big boys got out as fast as they could while slowly liquidating their enormous holdings.
Congress is going on ``full dictatorship``...
http://www.aclu.org/blog/national-security/senators-demand-military-lock...
Senators Demand the Military Lock Up American Citizens in a “Battlefield” They Define as Being Right Outside Your WindowThe Senate is going to vote on whether Congress will give this president—and every future president — the power to order the military to pick up and imprison without charge or trial civilians anywhere in the world.
The power is so broad that even U.S. citizens could be swept up by the military and the military could be used far from any battlefield, even within the United States itself.
In support of this harmful bill, Sen. Lindsey Graham (R-S.C.) explained that the bill will “basically say in law for the first time that the homeland is part of the battlefield” and people can be imprisoned without charge or trial “American citizen or not.” Another supporter, Sen. Kelly Ayotte (R-N.H.) also declared that the bill is needed because “America is part of the battlefield.”
so now the unwritten law is finally getting a writs [habias corpus] on carbon-paper - what's news?
"Don't fire unless fired upon, but if they mean to have a war, let it begin here." -- Captain John Parker, 1775
In the future I wonder how much a picture of Graham's head on a pike will go for.
About time they formalized the dictatorship. Who needs to win elections when a coup will do?
Did someone burn down the Reichstag?
I just fired off emails to both these idiots. I would encourage everyone to do the same. This cannot be emphasized enough just how dangerous this would be. If anyone knows of any of the other worthless Senators who support this traitorous philosophy please post their names so I can call and email them.
I did the same. I really wonder when the general population will wake up to the fraud they are calling "the war on terror" and realize it is being used to thwart the Bill of Rights/Constitution?
Wait for the Gold plunge, wait for it, wait for it.......don't pull the trigger 'til you see the whites of their eyes....
Hands down, U.S. Treasuries has been the No. 1 investment the last 35 years.
Bernanke should be fired for not printing faster.
Imagine the safety and comfort of dollar cost averaging month in, month out, always getting an income stream 100% guaranteed by Uncle Gorilla, with minimal drawdowns.
Pretty crazy.
Tell that to starving seniors
people! you're all answereing back to a machine! notice how RobotTrader never loses its cool? stop wasting your time! only Rosie from the Jetsons would get any emotion out of the above!
http://www.youtube.com/watch?v=2Y0xilFVPFo&feature=player_detailpage
another stellar raer-view mirror pronouncement by the Robohead; you've hit a new low, dude: 35 years! why weren't you pumping TMF here since last August instead of yer fukin' Netflx, you so smart?
Why would one pump treasuries last August? You should have been short treasuries at that time.
when you look around the room, and you can't spot the patsy, then you are the patsy.......
So your Mom gave you your computer "priviliges" back, when she reads this comment she is going to be so very dissapointed in you.
A worthy anthem for the current state of things? Follow the lyrics here: http://www.youtube.com/watch?v=9jK-NcRmVcw&ob=av2e replacing "countdown" with "bailout" and "we're heading for Venus" with "we're heading for default". No Swede with a poodle on his head could have been more prophetic. :)
Whole world is falling apart and people are fighting over cheap Chinese crap on black Friday. I have very little hope for the future of our country when I see imbeciles like that.
We are past the point of no return, which means every year will be worse than the last. Eventually, people will be fighting over food in just the same way.
I'm beginning to think that way. There was a brief moment when I thought people were waking up. But I see that moment has past.
I had the same experience. There was this moment in 2008 when people started saying, "holey shit whats happening?" and I'd say, "glad you arrived, here is a list of books you need to read to understand how the monetary system works. Once you have a grasp of that, we can see recent history in a whole new light..."
Then, as they contemplated the amount of work required, in not so many words, you could hear them say, "f*ck it, this is too hard"...
Much as I hated public school, we did have a few teachers who imparted on us the view that I and my classmates would all play a part in the defense or collapse of our culture. I remember wondering who among us would turn out to be respnsible for what.
My romanticized views about good and evil are long gone (no Paulsons or Geithners were in my class). I mostly see the people around me as fodder.
Whats coming is coming no matter what we do. When the windfall taxes are announced on your gold stash do you *really* think your neighbors will remember the guy who was right all along?
We all need to prepare ourselves mentally for the incredible betrayals to come.
We share the same view and experience. I do try to prevent myself from viewing people as fodder but I have to admit it gets harder and harder every day. Especially when we prepare to bomb another country and our citizens just shrug their shoulders. As long as it doesn't Interupt their shopping they are okay with it.
I hear you about the "fodder" thing. I try not to think of people as "deserving" whats coming, mostly because of what I remember during the housing crash.
It was literally impossible to get people to see what was happening as anything other than normal in 2006 and if you tried hard enough to convince them you eventually found yourself the recipient of a pretty good tirade.
Here was my favorite quote from an AZ realtor right around the top:
"...To lurk among the BubbleBloggers and their seething commentariat is to acquire an education in a slice of America invisible from this side of the sewer gratings. Notwithstanding the idiotic economic analysis, which is really no worse than the static-market fallacies paraded as profundities in the pages of the Arizona Republic, these sites — and not just HousingPanic — are infested with a cult-like fever to inflict suffering — at second hand, to be sure — on people who are in fact guilty of nothing except failing to have drunk the BubbleBlogger KoolAde..
The BubbleBloggers will someday bawl balefully in private, but they will never, ever admit that they have been very publicly very foolish. You will know and I will know and in the secret chambers of their hearts they will know they were wrong all along. But as long as you don’t hold your breath waiting for that contrite admission of error, you should be fine. ..."
I get similar wild agression directed at me on the globe and mail site when I simply point out that gold was money for 5000 years and just *might* be money again soon.
When the housing bubble came crashing down, I wanted to get in people's faces (and I did in the case of that realtor above). But mostly I felt the way I feel when I see a homeless guy hauling bottles towards some depot. I want to think he is a failure deserving of my scorn. More likely, he is someone who for various reasons never had much of a chance, and he might even be a guy like me who just cracked when faced with the collective insanity of the world around him.
I probably listen to Aqualung too much.
I guess my point is that I suspect people may not have as much free will as we like to think they do. Many people seem genuinely incapable of grasping whats happening. Even if I did decide to hate them, it would be hard to hurt them as much as the elites will soon enough.
"Whats coming is coming no matter what we do. When the windfall taxes are announced on your gold stash do you *really* think your neighbors will remember the guy who was right all along?"
Exactly. They'll blame you (because that's what the TV says) and turn you in for a few notes of worthless paper. I don't warn anyone except for close family. Everyone else can find out the hard way.
Hope & Change from our dear muslim.
Sorry, Dude, that moment never ever even arrived. That would require thinking, planning, responsibility. Those are hard. Fighting for cheap crap is easy. And yet I still love America.
,... american produce - chinese made - export tax levied,... with zero import tax
nice
ps. gosh, the chinese lanuage is such a complicated laguage to learn,... i'd much rather had preferred learning german - jmo
When your lead by a bunch of Turkeys...
BNYMellon (ticker: BK) is well on its way to zero.
Down to $17.57 from year's high of $32.50.
BNYM is in deep trouble. I know from being on the inside. Another round of "displacements" coming up in 10 days, with all of the announced 1,500 job cuts to be completed by year end.
Short with impunity, my fellow ZHers.
Agree. They are done.
Whatever is left after the defaults and derivatives payouts, the lawsuits will finish off.
should just call it for what its worth China stimulus Friday
Blame it on everyone but ourselves, how American!
The correct response would be:
US Govt/Big Business* stimulus Friday.
Wal-Mart shoppers ‘riot’ over two-dollar waffle irons
http://www.rawstory.com/rs/2011/11/25/wal-mart-shoppers-riot-over-two-do...
sheep love fighting for the china products
Calling them "sheep" is doing unjustice to sheep. These people have shyte for brains. Sheep are pretty smart compared to those beasts. Why feed them?
There's your 99% fighting over a $2 toaster.
Revolution in this country? Not until every bank shuts down, every credit card (including food cards) gets cancelled and every McDonald's closes. Even then the crowd would sooner devour each other before ever recognizing that they're just dumb stupid carbon units that are in this world to consume shit and entertainment, so that the 1% can have a nice life.
I have more respect for my cattle.
Will some other nation please come in and clean up this mess?
Easy now, things happen at the margins, not at the center/bulk.
The System will collapse from a small percentage change, not a big one.
Being predicated on growth, when growth, just a FEW percentage points worth, dries up, Then the System fails.
their system fails, the system of banks and mindless consumers.
i've seen first hand the rugger-buggers, the brit, german skinheads, the french poor whites especially around st. denis, it isn't pretty. but - it has nothing to do with the extent here. amazing.
as bad as europe may have gotten via goldman sachs financially engineered collapse, on a stupidity level, the big difference between western europe and the united states ( and my european friends that haven't been here, still don't believe it). in europe, beginning with the james bond hyperbole, moving to rambo and chuck norris, right up to jerry springer (who held elected office). in europe, this is still viewed as humor and entertainment (i forgot terminator - thanks, germany) - whereas in the us - it is viewed as what is desirable to be like.