• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Broken Markets Spreading

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Fri, 09/09/2011 - 15:23 | 1652086 Id fight Gandhi
Id fight Gandhi's picture

But definitely off the lows fuck off maria! Put the pom poms away /rant

Figures for me turning on cnbs

Fri, 09/09/2011 - 15:25 | 1652107 It is a bargin ...
It is a bargin my friend's picture

Ok I have a thing where I anally do that little chinky one with the dodgy mouth from behind while she screams "off the lows of the day"...it bothers me that I'm too far into this shit now too extracte myself...advice please

Fri, 09/09/2011 - 15:27 | 1652117 redpill
redpill's picture

Wow dude, maybe switch to Bloomberg for a few days (the Asian chick that hosts the show in the evening covering Asian markets is a little vixen).

 

Fri, 09/09/2011 - 16:05 | 1652299 Git_Naked
Git_Naked's picture

Like that will help his problem

Fri, 09/09/2011 - 15:31 | 1652124 SheepDog-One
SheepDog-One's picture

Even if the markets are down 3%, its good news, as theyre 'off the lows'...I only hope to see the day when these whores are employed properly as $15 prostitutes. Then I could yell at them as I pass by 'HEY IT COULD BE WORSE, YOURE OFF THE LOWS! YOU COULD BE A $10 WHORE'!

Fri, 09/09/2011 - 15:34 | 1652156 Al Huxley
Al Huxley's picture

LMFAO!

Fri, 09/09/2011 - 15:36 | 1652162 Toolshed
Toolshed's picture

Too funny!!

Fri, 09/09/2011 - 16:07 | 1652305 It is a bargin ...
It is a bargin my friend's picture

Summed up nicely

Fri, 09/09/2011 - 15:30 | 1652135 GeneMarchbanks
GeneMarchbanks's picture

Seek help.

Fri, 09/09/2011 - 15:22 | 1652088 TruthInSunshine
TruthInSunshine's picture

1150 marks the spot.

To the extent that one believes technical damage can be done to the spooz (don't ask me, since The Bernank broke the global markets), a hard break below 1150 today will break many hedge funds.

Something about that leverage thing...

Now, who wants to be long over this, of all, weekends?

Fri, 09/09/2011 - 15:25 | 1652112 espirit
espirit's picture

Not me, and I'm thinking of dumping my SPX short ETF and going cash.

Even a short is long in this ponzi.

Fri, 09/09/2011 - 15:55 | 1652251 Joshua Falken
Joshua Falken's picture

"Even a short is long in this ponzi"

 

Dear espirit

with logic like that, do you work for the Fed or an Algo Scalper?

Fri, 09/09/2011 - 15:50 | 1652228 Popo
Popo's picture

Yeah, but the problem is that 'weekends' are when those annoying sticksaves happen.  And if you're short into the weekend,  you just might wake up to a Monday morning ass-raping by the powers-that-be.  The market opens 10 handles higher, and Stimulus 9.0 is making CNBC anchor women cream in their panties.

I've seen this movie way too many times before, and it's the reason I can't short even when shorting looks like the most obvious play in the world.

 

 

Fri, 09/09/2011 - 16:28 | 1652389 SMG
SMG's picture

I feel your pain, but I think this weekend is a good one to chance it and hold on, at least I did.  It really seems like this is actually going to be Greek Default 2011.

Fri, 09/09/2011 - 15:22 | 1652092 Cult_of_Reason
Cult_of_Reason's picture

Trichet Prepares Draghi to Use Tools in ECB Box

http://mobile.bloomberg.com/news/2011-09-08/trichet-clears-the-decks-for...

Fri, 09/09/2011 - 15:32 | 1652142 GeneMarchbanks
GeneMarchbanks's picture

What kinda 'tools'? *smirk*

Fri, 09/09/2011 - 15:22 | 1652094 Id fight Gandhi
Id fight Gandhi's picture

T/A is bullshit. I can't see an positive in the EU. Greece needs to fucking default already. Quit the foreplay and let's move on.

Fri, 09/09/2011 - 15:24 | 1652108 SheepDog-One
SheepDog-One's picture

Yea really, sick of watching round and round musical chairs the music never stops.

Fri, 09/09/2011 - 15:27 | 1652119 espirit
espirit's picture

...and it's the same f'ing song!

Enough to drive one bat chit.

Fri, 09/09/2011 - 15:42 | 1652193 john39
john39's picture

that is part of the plan...   that is afterall how you boil a frog...  slowly, so he doesn't jump out of the pot.

Fri, 09/09/2011 - 15:43 | 1652195 Mactheknife
Mactheknife's picture

Damn I'm ready for some football and cold beer.

Fri, 09/09/2011 - 15:25 | 1652110 Long-John-Silver
Long-John-Silver's picture

That could happen right after the markets close this afternoon.

Fri, 09/09/2011 - 15:30 | 1652131 espirit
espirit's picture

Probably be bullish too!

Sad, but lol.

Fri, 09/09/2011 - 15:22 | 1652095 Pig Brotha
Pig Brotha's picture

HF Market Analysis

HF 2Q net exposure the highest since 2007; cash levels low
Based on the quarterly 13F filings and estimated short positions of the
equity holdings of 895 funds, we calculate that hedge funds increased gross
exposure by roughly $50bn to $1090bn in 2Q. Net exposure rose by 6.7% in
the second quarter, after rising 38.8% in 1Q11 and 36.7% during the last
quarter of 2010. HFs had the highest net exposure & lowest cash level since
the 2007 market peak - net exposure was 54% in 2Q vs. 59% at the peak, and
cash levels were at 4.7% in 2Q vs. 4.3% in 2007. This may be dated data but
hedge funds are not likely positioned for the equity market to trade below
1100 on the S&P 500. Hedge funds can still drive equity prices lower.

Fri, 09/09/2011 - 15:22 | 1652097 CClarity
CClarity's picture

Necessities cost more and your assets are worth less.  Isn't that paying for inflation with assets and wages dinged by deflation?  Isn't that a problem?  When will the markets REALLY adjust to this reality?  It isn't simply transitory unless your time line is very long.

Fri, 09/09/2011 - 15:23 | 1652099 1835jackson
1835jackson's picture

BAC back in the 6's bitchez

Fri, 09/09/2011 - 15:24 | 1652104 Id fight Gandhi
Id fight Gandhi's picture

It's gonna be back in the 3s

Fri, 09/09/2011 - 15:25 | 1652114 bob_dabolina
bob_dabolina's picture

Bernanke would print money before that happened again. 

Fri, 09/09/2011 - 15:29 | 1652129 Id fight Gandhi
Id fight Gandhi's picture

Maybe Warren will double down after another bath or lemon party.

Fri, 09/09/2011 - 18:42 | 1652761 OpenEyes
OpenEyes's picture

BAC is this year's Lehman.  They'll be left out of the next bailout party.  Somebody has to be the bagholder, this time looks like BAC's turn to me.

Fri, 09/09/2011 - 15:30 | 1652132 SheepDog-One
SheepDog-One's picture

Buffet just filled another Depends.

Fri, 09/09/2011 - 15:23 | 1652101 Scisco
Scisco's picture

Wish I understood more than the first sentence.

Fri, 09/09/2011 - 15:29 | 1652125 Long-John-Silver
Long-John-Silver's picture

"Much to learn, you still have."

 


Fri, 09/09/2011 - 17:38 | 1652592 g
g's picture

"...Young Padawan"

Fri, 09/09/2011 - 15:29 | 1652127 JohnG
JohnG's picture

Credit is blowing out, which usually indicated market drops.  The more credit widens, you get to collapse faster.

Fri, 09/09/2011 - 15:35 | 1652160 NotApplicable
NotApplicable's picture

Luckily the world's master bankers (or banker masters, I forget) will have all weekend to fix it. It'll all be good come monday, just you wait and see.

Fri, 09/09/2011 - 15:46 | 1652207 Scisco
Scisco's picture

So the market is float up on hot air that is rapidly cooling. Wonder if the politician's yapping will be able to keep it going. Thank you for the summery.

Fri, 09/09/2011 - 15:48 | 1652223 blunderdog
blunderdog's picture

Increased rates on short-term liquidity means that big providers are increasingly concerned that there's going to be a major event which they can't recover from.  If you think of it as gamblers at a poker table, where everyone is "known" to be really loaded, they can extend short-term loans to each other effectively "risk free."

Once someone starts thinking that one guy isn't good for it anymore, no one wants to take the chance. 

Fear spreads instantly because of how closely intertwined all the balance sheets are.

Fri, 09/09/2011 - 15:23 | 1652102 Long-John-Silver
Long-John-Silver's picture

Dominoes Bitchez!

Fri, 09/09/2011 - 15:25 | 1652113 mt paul
mt paul's picture

Trichet 

opens tool box 

finds bent screw driver

and a hammer

with broken handle....

Fri, 09/09/2011 - 15:37 | 1652167 NotApplicable
NotApplicable's picture

...and proceeds to pry the lock off of the liquor cabinet, yet again (which is how the tools were broken in the first place).

Fri, 09/09/2011 - 15:26 | 1652116 Piranhanoia
Piranhanoia's picture

Since we have machines to vote, think and purchase for us,  they will tell us what's right.

After this brief intermission there will be a few thousand dukes yelling "turn the machines back on" all weekend.  May not be this one, but do you get the feeling that is how it ends?  Someone in the travel business should alert us if a whole lot of big shots plan on flying so we will know. 

Fri, 09/09/2011 - 15:30 | 1652134 Henry Chinaski
Henry Chinaski's picture

And the President on the Oval Office saying "Who's been putting out Kools on my carpet?"

Fri, 09/09/2011 - 15:36 | 1652161 RichardENixon
RichardENixon's picture

It was a Newport. And I couldn't find an ashtray anywhere.

Fri, 09/09/2011 - 15:38 | 1652172 NotApplicable
NotApplicable's picture

LOL

Tricky

Fri, 09/09/2011 - 16:55 | 1652478 New_Meat
New_Meat's picture

mmmm

Fri, 09/09/2011 - 16:05 | 1652295 blunderdog
blunderdog's picture

Isn't it a violation of Federal law to smoke in the White House?

Hah.

Fri, 09/09/2011 - 15:27 | 1652118 Henry Chinaski
Henry Chinaski's picture

Good thing it is Friday.  Wonder if there will be an new surprise announcements tonight.

Fri, 09/09/2011 - 15:31 | 1652136 JW n FL
JW n FL's picture

 

 

sitting on the sidelines on a bench made of Gold.. as uncomfortable as it sounds.. I promise that it is anything but.

Fri, 09/09/2011 - 15:34 | 1652154 SheepDog-One
SheepDog-One's picture

Yea I'll let these lunatics devour each other while watching from the sidelines stacking up some PM coins.

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