• 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...

EPIC PLUNGE: -633.78, 6th Largest Drop In Dow Jones History

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Mon, 08/08/2011 - 16:11 | 1538942 Flakmeister
Flakmeister's picture

BTFD?

Mon, 08/08/2011 - 16:13 | 1538974 Spitzer
Spitzer's picture

Warren Buffet is buying so QE is coming.

Mon, 08/08/2011 - 16:18 | 1539015 razorthin
razorthin's picture

he's a keynesian shill and a pathetic human being.  i'll rely on my own technicals, thank you very much.

Mon, 08/08/2011 - 16:27 | 1539124 nope-1004
nope-1004's picture

Epic?  Sure, if all was normal.  This is part of the plan.  Gotta plunge the market, manipulate PM's, show weakening employment, then..... QE folks.  Benocide saves the world!  Now go back to amerikan idow.

 

Mon, 08/08/2011 - 16:45 | 1539266 Max Hunter
Max Hunter's picture

It's official.. The terrorists have won... Not sure who they are.. but.. they've won.. Damn it anyway..

Mon, 08/08/2011 - 16:57 | 1539346 redpill
redpill's picture

-6.66% on the S&P, just like the Maiden song...

Night was black
was no use holding back
'Cause I just had to see
was someone watching me
In the mist
dark figures move and twist
was all this for real
or just some kind of hell
6-6-6 the Number of the Beast
Hell and fire was spawned to be released

Mon, 08/08/2011 - 17:09 | 1539422 Solid Gold Bubble
Solid Gold Bubble's picture

and -5.55% on the dow. they are laughing at us.

Mon, 08/08/2011 - 17:52 | 1539604 eureka
eureka's picture

Yep - pathetic numerology and symbols - just like in laundry detergent ads - and PentaGun "patriotism" ads - superiority complex and tribal fear woven tightly to motivate the mass of unconscious (brain-dead) bio-slaves.

Any chance the U.S. military-industrial complex will be dismantled now - or will the inferiority-superiority complex continue - financed by infinite Bernanke QE3$ ...?

Mon, 08/08/2011 - 18:17 | 1539687 Judge Holden
Judge Holden's picture

"Any chance the U.S. military-industrial complex will be dismantled now"

 

"Now" as in this year?  No - but now that modest debate has finally been allowed to occur wrt our endless warfare policy, I'd say we could see significant cuts to our military by the end of the decade.  If, for no other reason than that there will be no more social programs left to cut from.

Mon, 08/08/2011 - 18:56 | 1539816 Haywood Jablowme
Haywood Jablowme's picture

Now the panic comes in. Mom and Pops around the USSA still dumb enough to keep an IRA are gonna dump, dump, dump....

Sinclaire's $1784 gold heeeeeerrrrrreeeee we come

Mon, 08/08/2011 - 19:27 | 1539930 rocker
rocker's picture

As much as Ronald Reagan is quoted. Why doesn't somebody listen to his common sense.

Twenty-five years ago a suicide bomber killed 241 American troops in Lebanon.  They are simply wackos over there.

What did he do. Pulled out everybody and said, Blow yourselves up because I'm bringing home ours.  That was the end of it.

Nobody shamed him. So far we have lost more troops under Bush than the idiots killed citizens on 9-11 also under Bush.

So who is stupid?  We are.  We gave tax cuts to the job creators when we went to war and lost 6 million jobs.

They are destoying our economy and draining all our wealth. Now they want to steal S.S. from those who need it and paid into it.

And one more thought.  Who will have the balls to bring our troops home now and say enough is enough.  Surely Bambi doesn't.

Mon, 08/08/2011 - 20:43 | 1540173 moregoldplease
moregoldplease's picture

Bush is not the president any longer. The new president, since 2008, is Barack H. Obama.

Just trying to help

Mon, 08/08/2011 - 17:42 | 1539561 IQ 101
IQ 101's picture

6+6+6 = 18     1+8= 9

8+8+2+1+1=2      as in 8/8/2011

2+9=11               as in 9 becomes 11, familiar numbers.

It all seems tin foil hat madness,but is it?

When a Rabbi? sat down to make a copy of the Torah he was not described as a scribe but as a counter, i forget the Hebrew term used.

Im not personaly familiar with the outfit that created the link below

 but they seem to have displayed the info I am attempting to relate,

http://members.cox.net/8thday/meaning.html

A guy by the name of Ivan Panin did a ton of work in this area,well worth checking out,

It all makes me go HMMMM!

This is not the black and white world we thunk it wuz.

Occult, Bit......never mind.

 

.

Mon, 08/08/2011 - 17:52 | 1539605 IQ 101
IQ 101's picture

P.S. Zero is an Arabic invention that came much,much later,

Zero means nothing in this case, 20, yes I know.but not.

Mon, 08/08/2011 - 18:42 | 1539767 Wynn
Wynn's picture

you might like; or not

 

http://www.bookofdaleth.com/

Mon, 08/08/2011 - 20:02 | 1540036 aviat72
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Zero is not an Arabic invention. Zero and the misnamed Arabic numerals were first used by the Ancient Indians. The still in the  Middle Ages, Europeans learnt them through the Arabs and hence called them Arabic numerals.

 

http://en.wikipedia.org/wiki/Arabic_numerals

Mon, 08/08/2011 - 20:47 | 1540184 janus
janus's picture

aviat72 is correct.

the arabs are credited with algegra (more specifically semitic persians...but who's counting)

Mon, 08/08/2011 - 17:54 | 1539609 Ethics Gradient
Ethics Gradient's picture

It all seems tin foil hat madness,but is it?

Yes

Mon, 08/08/2011 - 18:50 | 1539793 medicalstudent
medicalstudent's picture

predict something with your numbers.

 

yeah... i thought not.

 

in hidsight you could link blue shoes to a pair of titties around the corner.

 

but in foresight there is no predictive power.

Mon, 08/08/2011 - 19:26 | 1539924 tickhound
tickhound's picture

For me its that funny feeling you get when a system's about to collapse.

Mon, 08/08/2011 - 19:32 | 1539941 rocker
rocker's picture

Pretty Freaking Cool IQ101.

Mon, 08/08/2011 - 18:58 | 1539825 Iam_Silverman
Iam_Silverman's picture

"It's official.. The terrorists have won... Not sure who they are.."

S&P?

Mon, 08/08/2011 - 17:08 | 1539421 B9K9
B9K9's picture

You're right about QE3 - not that anyone here doesn't already know the script. But, you're neglecting to mention the other critical element, which is when the fun really begins: price controls.

2.5 years ago, when Bammer opined that 'perhaps now was a good time to buy stocks', the idea of a centrally coordinated PPT, QE, POMO, et al still existed in the fantasy realm. However, now that the cat is out of the bag, any overt/covert QE actions will immediately translate on a 1:1+ basis into the prices of gold, oil, food, etc.

Since the QE has to be big, and by that I mean really big (Krugman big) - probably on the order of $10-15T - that means all commodities will become out of reach for the average citizen.  When that happens, in come the price controls. And since that will result in shortages, in come the various police agencies and military to "maintain order" , and perhaps some emergency exec orders along the lines of 'continuity of government'.

Winning. Get it? What, you thought we were gonna get out of this the easy way? LOL

Mon, 08/08/2011 - 17:42 | 1539562 Spitzer
Spitzer's picture

Spot on, agree 100%.

I made the biggest single currency exchange of my life on July 27 and August 4th. CAD for physical gold.

Mon, 08/08/2011 - 18:26 | 1539712 mind_imminst
mind_imminst's picture

Spot on. Still, I am amazed at how central bankers go the same route everytime and how the citizenry falls for it every time. Hyper-inflation and collapse. I am amazed at home many of my office compadres and aquaintences not only are ignorant of history but so willing to accept price controls because "it sounds good". Amazed or disgusted, I don't know. I will shit my pants if the FED (tomorrow) does not at least hint as some sort-of massive intervention (QE3) coming soon. That is all they know how to do - hyperinflation.

Mon, 08/08/2011 - 18:40 | 1539762 Caviar Emptor
Caviar Emptor's picture

After price controls come the bribed exception to price control . As happened during the Nixon administration with the price of milk and other things 

http://www.time.com/time/magazine/article/0,9171,911215,00.html

Mon, 08/08/2011 - 19:29 | 1539933 sun tzu
sun tzu's picture

You would be amazed at how many of our "best and brightest" graduates at the universities also think that price controls work. In every case throughout history it has led to shortages and a black market

Mon, 08/08/2011 - 18:56 | 1539815 Ricky Bobby
Ricky Bobby's picture

Of course all the black market jobs created should take a good tick off the unemployment number.

Mon, 08/08/2011 - 16:30 | 1539158 tmosley
tmosley's picture

Technicals can't predict the actions of an individual any more than the half life of a radioactive metal can tell you when a given atom will decay.

Mon, 08/08/2011 - 16:33 | 1539183 razorthin
razorthin's picture

Perhaps you missed my link the last week of July:

https://sites.google.com/site/dailyspyder/

Mon, 08/08/2011 - 16:37 | 1539209 LawsofPhysics
LawsofPhysics's picture

I didn't - thanks by the way.  What few hundred thousand I had in equities went to cash and physical.  Cash is king again and that king is walking on a yellow brick road.

Mon, 08/08/2011 - 16:45 | 1539248 hedgeless_horseman
hedgeless_horseman's picture

Treasuries rally*

Indeed, Warren Buffett told CNBC that Berkshire Hathaway Inc. is still a buyer of Treasury bills, despite the low yields.

 

*Mission accomplished

Mon, 08/08/2011 - 19:06 | 1539863 TwelfthVulture
TwelfthVulture's picture

I swear, sometimes I think that if it wasn't for the shitload of money he inherited from his US Senator father, he wouldn't be the self-made man he is today.

Mon, 08/08/2011 - 16:42 | 1539249 Spitzer
Spitzer's picture

Do you have the video to prove it ? I do

Im not trying to brag but hey, I top ticked the CAD and got some gold.

http://www.youtube.com/watch?v=U_-8cqD4BWU&feature=channel_video_title

Mon, 08/08/2011 - 17:15 | 1539445 LawsofPhysics
LawsofPhysics's picture

Sure spitzer, let me get that electronic receipt from liberty coin posted.  Can anyone post?  I saw the video - delicious.

Mon, 08/08/2011 - 19:03 | 1539852 razorthin
razorthin's picture

Glad it helped.  Saved myself from about $40K drubbing in my paltry retirement fund thus far.  Wish I had the guts to actually short.  Maybe next failed rally...

Mon, 08/08/2011 - 16:42 | 1539243 tmosley
tmosley's picture

Pardon, I misread the person you were relying to.  Ignoring Uncle Warren is probably fine at this point.

Mon, 08/08/2011 - 16:40 | 1539232 Pay Day Today
Pay Day Today's picture

Being worried about my health, I'm not worried about when one specific atom is going to decay during a given minute.

I'm worried when millions of them are.

Mon, 08/08/2011 - 16:32 | 1539166 G-R-U-N-T
G-R-U-N-T's picture

This administrations assault on capitalism seems to being going as planned as is the criminalizing of free trade which is this President's ambition...

When America is in enough pain they may indeed effect change. Will see...

Mon, 08/08/2011 - 16:38 | 1539219 Flakmeister
Flakmeister's picture

Within the context of this subthread, this comment is clearly a non-sequiter...  Taken independently as a statement of belief, it is merely the gratuitous ramblings of a fool....

Now back to your regular programming..

Mon, 08/08/2011 - 17:05 | 1539387 G-R-U-N-T
G-R-U-N-T's picture

"it is merely the gratuitous ramblings of a fool...."

My sentiments exactly as it applies to Obama, however the public sector believe he's a genius...a regular God send to their self destructive ambitions. "He's brilliant" only in reverse.

Now back to the destruction of our economy...

Mon, 08/08/2011 - 17:06 | 1539408 Flakmeister
Flakmeister's picture

Do  not confuse my disparging of your remarks as a defense of Obama...Obama is a failure and you have no idea what you are talking about.

Tue, 08/09/2011 - 00:44 | 1541335 G-R-U-N-T
G-R-U-N-T's picture

Flakmeister....I hear your "you have no idea what you are talking about", however please give me some clarity on what you think Obama's motives are for this country because despite the events of the past all of this is happening on his watch, but only if you feel up to it.

 

 

 

Tue, 08/09/2011 - 07:57 | 1541864 Flakmeister
Flakmeister's picture

He has no motives, no agenda, at least one that he will stand up for. He has tried to be all things to all people. The outcome of this is that he is simply a continuation of GWB. I think that we can agree that W was also a failure. O has not fought for anything. There was a time when such an approach would have worked, i.e. a mediator-in-chief. The country needed a forceful figure who understood what caused the crises in '08 to occur, not a mouthpiece who could only see the effects and not the cause. He was given a mandate to lead this country guided by a new vision, he never used it.

  The people destroying capitalism and this country are the same clowns that were doing it on W's watch. Nothing changed.

Tue, 08/09/2011 - 08:10 | 1541907 YHC-FTSE
YHC-FTSE's picture

That deserves a +1

 

On the subject of the main article, it looks like a green day for the markets, which ZH, once again, predicted a few hours ago. I don't know what to make of Nat Sheet's resignation as chief international economic advisor at the Fed, but the expectation of QE is once again high (presumably on the outcome of the FOMC meet today) and the markets are reacting. 

Tue, 08/09/2011 - 09:43 | 1542211 G-R-U-N-T
G-R-U-N-T's picture

Ambiguous leadership right now is what I believe most of us average American's are feeling. There is a level of capriciousness and arbitrary hot air coming from America's spokes-holes resulting in a huge lack of confidence in  government to create a solution. There is distrust in the business and financial communities and this lack of confidence in government right now is resulting in this shock wave in the S&P.

Empty words and frivolous explanations by our President doesn't add to our fiscal confidence it only increases a level of uncertainty. Reasonable American people as you have pointed out are looking for definitive explanations to get some clarity or perspective on what to do and we are not getting it from our current leadership.

I appreciate your impressions Mr. Flakmeister, thank you.

 

Tue, 08/09/2011 - 09:53 | 1542251 Flakmeister
Flakmeister's picture

My pleasure....

Mon, 08/08/2011 - 17:06 | 1539404 molecool
molecool's picture

Did you mean non sequitur?

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