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Is It Time For The Financial World To Panic? 25 Reasons Why The Answer May Be Yes
Every now and then it is easy to forget that the one or two "better than expected" data points blasted by flashing headlines do nothing that merely mask what is an otherwise quite deplorable and deteriorating reality. For the disconnect between America and the rest of the world look no further than this chart showing the dramatic divergence between the DJIA, which has just gone positive for the year, and every other major global stock market. Yet for those who require a narrative to go with their numbers, here is The Economic Collapse with the latest of their traditionally comprehensive bulletins, this time summarizing the "25 signs that the financial world is about to hit the big red panic button."
From The Economic Collapse:
The following are 25 signs that the financial world is about to hit the big red panic button....
#1 According to a new study just released by Merrill Lynch, the U.S. economy has an 80% chance of going into another recession.
#2 Will Bank of America be the next Lehman Brothers? Shares of Bank of America have fallen more than 40% over the past couple of months. Even though Warren Buffet recently stepped in with 5 billion dollars, the reality is that the problems for Bank of America are far from over. In fact, one analyst is projecting that Bank of America is going to need to raise 40 or 50 billion dollars in new capital.
#3 European bank stocks have gotten absolutely hammered in recent weeks.
#4 So far, major international banks have announced layoffs of more than 60,000 workers, and more layoff announcements are expected this fall. A recent article in the New York Times detailed some of the carnage....
A new wave of layoffs is emblematic of this shift as nearly every major bank undertakes a cost-cutting initiative, some with names like Project Compass. UBS has announced 3,500 layoffs, 5 percent of its staff, and Citigroup is quietly cutting dozens of traders. Bank of America could cut as many as 10,000 jobs, or 3.5 percent of its work force. ABN Amro, Barclays, Bank of New York Mellon, Credit Suisse, Goldman Sachs, HSBC, Lloyds, State Street and Wells Fargo have in recent months all announced plans to cut jobs — tens of thousands all told.
#5 Credit markets are really drying up. Do you remember what happened in 2008 when that happened? Many are now warning that we are getting very close to a repeat of that.
#6 The Conference Board has announced that the U.S. Consumer Confidence Index fell from 59.2 in July to 44.5 in August. That is the lowest reading that we have seen since the last recession ended.
#7 The University of Michigan Consumer Sentiment Index has fallen by almost 20 points over the last three months. This index is now the lowest it has been in 30 years.
#8 The Philadelphia Fed's latest survey of regional manufacturing activity was absolutely nightmarish....
The survey’s broadest measure of manufacturing conditions, the diffusion index of current activity, decreased from a slightly positive reading of 3.2 in July to -30.7 in August. The index is now at its lowest level since March 2009
#9 According to Bloomberg, since World War II almost every time that the year over year change in real GDP has fallen below 2% the U.S. economy has fallen into a recession....
Since 1948, every time the four-quarter change has fallen below 2 percent, the economy has entered a recession. It’s hard to argue against an indicator with such a long history of accuracy.
#10 Economic sentiment is falling in Europe as well. The following is from a recent Reuters article....
A monthly European Commission survey showed economic sentiment in the 17 countries using the euro, a good indication of future economic activity, fell to 98.3 in August from a revised 103 in July with optimism declining in all sectors.
#11 The yield on 2 year Greek bonds is now an astronomical 42.47%.
#12 As I wrote about recently, the European Central Bank has stepped into the marketplace and is buying up huge amounts of sovereign debt from troubled nations such as Greece, Portugal, Spain and Italy. As a result, the ECB is also massively overleveraged at this point.
#13 Most of the major banks in Europe are also leveraged to the hilt and have tremendous exposure to European sovereign debt.
#14 Political wrangling in Europe is threatening to unravel the Greek bailout package. In a recent article, Satyajit Das described what has been going on behind the scenes in the EU....
The sticking point is a demand for collateral for the second bailout package. Finland demanded and got Euro 500 million in cash as security against their Euro 1,400 million share of the second bailout package. Hearing of the ill-advised side deal between Greece and Finland, Austria, the Netherlands and Slovakia also are now demanding collateral, arguing that their banks were less exposed to Greece than their counterparts in Germany and France entitling them to special treatment. At least, one German parliamentarian has also asked the logical question, why Germany is not receiving similar collateral.
#15 German Chancellor Angela Merkel is trying to hold the Greek bailout deal together, but a wave of anti-bailout "hysteria" is sweeping Germany, and now according to Ambrose Evans-Pritchard it looks like Merkel may not have enough votes to approve the latest bailout package....
German media reported that the latest tally of votes in the Bundestag shows that 23 members from Mrs Merkel's own coalition plan to vote against the package, including twelve of the 44 members of Bavaria's Social Christians (CSU). This may force the Chancellor to rely on opposition votes, risking a government collapse.
#16 Polish finance minister Jacek Rostowski is warning that the status quo in Europe will lead to "collapse". According to Rostowski, if the EU does not choose the path of much deeper economic integration the eurozone simply is not going to survive much longer....
"The choice is: much deeper macroeconomic integration in the eurozone or its collapse. There is no third way."
#17 German voters are against the introduction of "Eurobonds" by about a 5 to 1 margin, so deeper economic integration in Europe does not look real promising at this point.
#18 If something goes wrong with the Greek bailout, Greece is financially doomed. Just consider the following excerpt from a recent article by Puru Saxena....
In Greece, government debt now represents almost 160% of GDP and the average yield on Greek debt is around 15%. Thus, if Greece’s debt is rolled over without restructuring, its interest costs alone will amount to approximately 24% of GDP. In other words, if debt pardoning does not occur, nearly a quarter of Greece’s economic output will be gobbled up by interest repayments!
#19 The global banking system has a total of 2 trillion dollars of exposure to Greek, Irish, Portuguese, Spanish and Italian debt. Considering how much the global banking system is leveraged, this amount of exposure could end up wiping out a lot of major financial institutions.
#20 The head of the IMF, Christine Largarde, recently warned that European banks are in need of "urgent recapitalization".
#21 Once the European crisis unravels, things could move very rapidly downhill. In a recent article, John Mauldin put it this way....
It is only a matter of time until Europe has a true crisis, which will happen faster – BANG! – than any of us can now imagine. Think Lehman on steroids. The U.S. gave Europe our subprime woes. Europe gets to repay the favor with an even more severe banking crisis that, given that the U.S. is at best at stall speed, will tip us into a long and serious recession. Stay tuned.
#22 The U.S. housing market is still a complete and total mess. According to a recently released report, U.S. home prices fell 5.9% in the second quarter compared to a year earlier. That was the biggest decline that we have seen since 2009. But even with lower prices very few people are buying. According to the National Association of Realtors, sales of previously owned homes dropped 3.5 percent during July. That was the third decline in the last four months. Sales of previously owned homes are even lagging behind last year's pathetic pace.
#23 According to John Lohman, the decline in U.S. economic data over the past three months has been absolutely unprecedented.
#24 Morgan Stanley now says that the U.S. and Europe are "hovering dangerously close to a recession" and that there is a good chance we could enter one at some point in the next 6 to 12 months.
#25 Minneapolis Fed President Narayana Kocherlakota says that he is so alarmed about the state of the economy that he may drop his opposition to more monetary easing. Could more quantitative easing by the Federal Reserve soon be on the way?
And the conclusion which is, as usual, spot on:
Things have not looked this bad for global financial markets since 2008. Unless someone rides in on a white horse with trillions of dollars (or euros) of easy credit, it looks like we are headed for a massive credit crunch.
What we witnessed back in 2008 was absolutely horrifying. Very few people want to see a repeat of that. But as things in the U.S. and Europe continue to unravel, it appears increasingly likely that the next wave of the financial crisis could hit us sooner rather than later.
None of the fundamental problems that caused the crisis of 2008 have been fixed. The world financial system is still one gigantic mountain of debt, leverage and risk.
Authorities around the globe will certainly do all they can to keep things stable, but in the end it is inevitable that the house of cards is going to come crashing down.
Let us hope for the best, but let us also prepare for the worst.
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You're right, they would keep status quo going till USD & Euro are printed to oblivion.
But escalating oil supply confrontations (like Lybia) will precipitate major geopolitcal shifts rapidly bringing together a fearsome asian nuclear alliance willing and ready to push the launch buttons turning American cities to glass & ash, ending once and for all America's worldwide bullying, and ending America's existence for all practical purposes.
Oh yes, the end of Anglo banker world dominance is coming from a direction nobody expects nor would even believe
...except them. They know all about it, which explains this last great push to loot what they can then get the hell out of Dodge.
Ben, thanks for coming on ZH and finally coming clean with us regarding your plans. We will be in touch.
"Is It Time For The Financial World To Panic? 25 Reasons Why The Answer May Be Yes"
NO!!! It is time for the average citizen to panic.
The financial world has no reason to panic anywhere in the world except perhaps in Iceland, as the financial world owns central banks and governments lock, stock and barrel. So we will see massive unemployment, massive declines in the standard of living/hyperinflation before we see any of the big banks failing.
You are right. Common folks needs to panic. If you don;t have a job in the USA you are screwed, and the domino effects. Banks will be protected and they will screw the common man over as always.
Jobs?
They need to work.
Pople don't need jobs..... They need energy, chickens, hogs, a cow or two, fresh water, the knowledge to use these things. All these things take work They need to work. Many Americans forget the difference. don't blame the .gov skoolz, for my gramor and mispeling.
BINGO! see my post above, there is no "rollover" till they want a rollover..
"Why can't you say something righteous and hopeful for a change?"
-Oddball
http://www.youtube.com/watch?v=Xyh-JpWdGmQ
:)
Dollar Tree sales are up. WMT is struggling and so is TGT. Consumers are down to dollar stores. I wonder if the Vatican realizes the reality. I am looking forward to the Teleprompter in Chief speech to nowhere as always. Pissing contest at best.
Zeroman:
Keep snorting glue, Ponzi's 'last' but have a finite lifetime... To presume gold will crash because the US is the 'only game in town' is far-fetched @ best and a personal bankruptcy @ worst. The dollar bulls are forever clinging to the 'Last Ponzi scheme standing.'
BNY Mellon CEO Robert Kelly quits, successor named
BNY CEO Robert Kelly quits due to 'differences in approach,' Gerald Hassell tapped successor
http://finance.yahoo.com/news/BNY-Mellon-CEO-Robert-Kelly-apf-2561271852...
From The Economic Collapse:
We have the news that QE3.0 can be now a coordinated action between central banks - EU is In - as this report suggest. "Chairman Ben S. Bernanke At the Federal Reserve Bank of Kansas City Economic Symposium, Jackson Hole, Wyoming. To put things in perspective, please, first read the Bloomberg articles below:
Bloomberg: Wall Street Aristocracy Got $1.2 Trillion in Secret Loans.
The Fed's Secret Liquidity Lifelines
Anybody is for the strong dollar from the FED and who's "tool box is empty"? http://sufiy.blogspot.com/2011/08/bailout-cnbc-eu-working-on-radical-pla...
What if Obama knows it can't be fixed or the can can't be kicked down the raod any longer? Wouldn't you want to be in the position of being thrown out for Bachmann/ Perry in 2012. Then who has the egg on thier face?
What if Obama knows it can't be fixed or the can can't be kicked down the raod any longer? Wouldn't you want to be in the position of being thrown out for Bachmann/ Perry in 2012. Then who has the egg on thier face?
OK! So it is all SHIT now. I am hunkered down in my "safe place", got my guns. gold, grains, ammo...The "golden hoard" is not here...yet. Why the Fukk am I still on the internet? Gone now. Gonna have some beers, vodka, friendship, and target practice...bitchez!!!
Merrill Lynch is worse than a whorehouse; strike that: whores charge for good honest labor -- these people will sell out their mother's and back-stab each other for a profit or Teh Fed hand-out.
The economy has 100% remained in very same recession; the QE synthetic money pumps and ZIRP fuckery has levitated this motherfucker into an anemic volume, balmy air plant alter-world, the defies all laws of nature, gravity, economics and most importantly common sense.
I won't bother with the remaining 24 points, for obvious reasons.
#1 According to a new study just released by Merrill Lynch, the U.S. economy has an 80% chance of going into another recession.
Merill Lynch, cmooon, please spare us of the junk reasons. There might be a good case for a recession but please give good reasons.
Is your avatar Madonna with a black eye?? LOL!!
Its...Hillary!
Its an old trick I passed along to Bubba (chalk around the keyhole).
"Credit markets are really drying up."
So's the Ghawar oil field in Saudi Arabia, the world's largest, 50% of Saudi production...
Oh, I'm trolling. So sorry.
Lew Rockwell says we are facing hyperinflation if banks start to lend again - http://www.youtube.com/watch?v=FqLvHjGbfPI&feature=channel_video_title
I agree 100%. Velocity of a glut of clownbux, bichez.
http://www.youtube.com/watch?v=1jjN-H62U64
Will I still be able to do my Virgin Islands trip this Fall??
Snob.
The Fed will monetize more debt and use Swaps to Bail the ECB just as they Bailed Mexico in 1992.. That's my prediction.
Not unless Germany plays along (RE: Sep 7th).
There has to be a God ! Who else could have created something so marvelous as me ? Monedas 2011 Comedy Jihad World Tour
German anti-bailout hysteria????
LOL!
F#ck Greece in the a$$hole. F#ck the Greeks in a way that even the Greeks won't like.
Don't you use Greece for ass fucking? In ancient times greek men prefered sexual relations with other men. Women were pretty much just for procreation and cleaning.
Bring back Johnny Bravo,the original Troll not the plastic variety you get nowadays.Bailouts,Debt,Financial Abyss ...... We are the Trolls of the Corrupt Keynsian Banking System and boy do we love it.Buying Physical Gold and Physical Silver boy do we love it and everyday there is less and less to save the stinking Bankers,boy do we love it.As BTO said "You ain,t seen nothing yet".
knock on wood, but it seems like all of the trolls are gone now. weird....
Umm, we beat them like red headed step children, like rented mules, like Tine Turner, thats all I got..
Kucinich: Obama’s job czar expert at creating foreign jobs
http://www.rawstory.com/rawreplay/2011/08/kucinich-obamas-job-czar-exper...
Brazil cut rates! There we go, MAJOR bear signal on the commod slowdown i.e CHINA! US markets are in la la land, this should slam them down.
And yet the stock market continues to rise......... hmmm
If you say so. I sold my 401k in May (had to quit my job), bought phys gold and am still waiting for the price levels I sold at to return on the stocks. "Continues to rise" may not be completely accurate. Continues Flopping around in death throws perhaps.
Take it from me, in the business and housing is in the toilet, and whatever you make think of that fact, it has been an economic engine contributing to GDP, and I think the whole industry is about to nosedive worse than you think. The news has been disastrous since May, and the fumes that this industry has been running on are about to run out.
Housing WAS the economic engine. That was the last war.....
gh
I don't know... Lots of bad news and the markets feel really good lately. The price action seems bullish. Treasurys are set to decline, and that means the stocks should go up.
Anyway, who trusts Morgan Stanley anyway?
http://ghickeyblog.blogspot.com
Just reading the tape,
gh
Light the bitch up, lets see wall st and washington burn.
Hopefully out of the ashes local republics without central planning rapists.
time to p-a-n-i-c?
#5 Credit markets are really drying up. Do you remember what happened in 2008 when that happened? Many are now warning that we are getting very close to a repeat of that.
"many" are right & wrong @ the same time, imo. right: yes, we see indications of "aridity" in the money markets, commercial paper (CP), and some of the repo depots, as in 2008 and for the same fuking damned reasons, too! i.e. people don't trust the bullshit on other asswipes' balance sheets b/c they freaking know what is on their own (h/t to FASB)
wrong: b/c the head bankster who is extremely smart and deserves his place as magister chairsatan of the glass ponzi game (glass debt ceilingz?) had flooded-ed-ed the world with fiat, as never since noah heard the word which ended, as we know in the bird's the word, Surfin' Bird (Full Metal Jacket) - YouTube just b4 his kids got drunk and, according to h. camping, did mom, said benzelbub has been liquidiiZing all creation
credit markets are drying up for the bullshit and the unworthy. if your credit is good, you can borrow all you want and enjoy QEs III-XX which will now be launched by fractional reserve bankstering, and, as noah realized after the first 5 weeks, "holy gazoli, BiChez! we ain't seen nuthin, yet!"
but, as the mills brother put the same idea in "the song is ended but the melody lingers on": QE is ended, but, if you're solvent, you can borrow for a little and buy a lotta PMs, and let the wonders of fractional banksterism kiss your zH ass all the way to your very own bank
and the liquidity is also there for the liquidation of moronic shitheaded asswipes, their clients, their "companies and partnerships" and all who need credit, but are suspected of not BEing credit-worthy
so, yes, panic is way overdue. although the normal denies it, the real affirms it and we know how that shit turnZ out, don't we? but with all this liquidity, the panic will be orderly, dammit, janet, as we are really seeing, right now. me and the benzlebub don't want things to crash, we just want things to burn. different things, but hey! shit happens!
I'd like to save all the drunks this evening from spending a lot of time reading and digesting all this great material: We're fucked. That's the summation of every article on the site. LOL. I love it
Exactly, something about drinking, reading and periodically screaming "Were Fucked" as though I had Tourettes syndrome.dear wayne & garth: party on!
Now, now, don't ruin everyone's fun.
We already know we're fucked- getting drunk and speculating/bitching about it is about the only recreation some of us can afford after buying food, PMs and ammo.
Hey, it's either that or get drunk and shoot jars of peanut butter with silver bullets, and that would be counterproductive at best.
If a government will buy it's own junk bonds......it's not too big a leap that they might buy some equities to prop up the system ? The only taboo is that Gold would look like a reasonable option ! God has a sense of humor......a fine, wickedly funny sense of humor ! He loves fuckin' with with Socialtards ! Monedas 2011 I am Capithal Man !
Funny you say that because it was a religious rebellion between martin luther and the catholic church in Germany that lead to the invention of state sponsored social welfare. I don't think the problem is social programs, it's that everyone has chosen to fud them with debt. Debtors vs Savers.... The eternal struggle.
Why should the Fed buy equities when they can give fresh fiat to the banks and tell them to buy equities?
long
red buttons
Did anyone get a hold of this bearish report from Goldman profiled tonight in the WSJ?
http://online.wsj.com/article/SB10001424053111903895904576542703587784540.html
"argued that as much as $1 trillion in capital may be needed to shore up European banks"
"China's growth may not be sustainable"
Merkel's call : Either she decides that the world needs a NEW FINANCIAL STRUCTURE, NEW FRAMEWORK AND SHE SPEARHEADS IT THROUGH EU/EURO ZONE. OR SHE SINKS ON THE EXISTING TITANIC.
What has she got to lose? This is the last possibility for western economies to try find a GLOBAL SOLUTION, by first CHILLING THE CASINO ROYALE market to stand still. By putting up a safety net and by nationalising those banks that can't withstand the heat. By stopping all the mad derivative plays, by cleaning out house. Its ATTRITION time anyway world wide. You might as well redefine the world financial architecture; as the Oligarchs have already defined the rules in the private sector totally to their advantage from safe, illegal havens world wide.
Its make or break time. If Germany goes into retraction mode, we are all toast and the Oligarchs will get stronger NOT weaker. As their architecture is already in place. World government will be theirs. Don't fool yourself that Isolationism in every nation state will defeat them. QUITE THE CONTRARY. THIS IS A WORLD WIDE FINANCIAL-OLIGARCHICAL PLAGUE. IT REQUIRES A WORLDWIDE FINANCIAL SOLUTION LIKE FDR PROVIDED ON THE MILITARY FRONT IN WW2.
Unfortunately, we don't have a leader with the vision and WILL of an FDR today...
This looks like the risk factor page in the Gropon IPO.
.....good point, but it is far shorter, but more to the point.
Obama's Job Stimulus Speech - September 8,9,10 or whenever 2011.
Obama: Good evening. Tonight we are faced with many challenges to rebuild America. My administration has proposed many bipartisan plans to help jump start this economy. To our avail, many of my plans have been rejected by my opposing forces. We need to create new jobs in America, and I have a new proposal to help Americans get back to work. It will be a sacrifice and we all need to make this sacrifice's to turn our country around.
In order to be competitive in the new global world, our wages need to be lowered. Joe Biden just visited China. Our partners have built new cities, expanded public railways and infrastructure. These plans were based on numerous Government Stimulus plans. Our partners have created a roadmap for us to follow in bringing this country into a job creating model.
My administration has proposal a new Stimulus plan.. Blah..blah..blah..blah
Obama Stimulus Plan
If our partners can do it, so can Americans
LOL
Fine, lower my wages. Cancel my debts and excuse me from the federal income tax and we might have a deal.
So the president's job plan is modeled on the success of a totalitarian communist country? I suppose that makes sense.
You forgot to blame Bush in there, somewhere, otherwise, good try.
#26..."This is most likely the first of many rate cuts by Brazil which is obviously anticipating a major growth contraction in China, and as a result we expect the the other BRICs will very soon reevaluate their stance vis-a-vis being the remaining target of global capital flows."....as seen on Zero Hedge.....
Reason #26: President Obama is giving a major speech about jobs on September 7th.
Oh wait...September 8th. Seems his scummy political low-life attempt to step on the GOP debate didn't work.
September 8th President Obama will enlighten us with the jobs plan that he's been working on since he was elected. We're all saved!
Athiest, Barney Franks is an Athiest...
He's a criminal!
About this time last year, zerohedge was talking all doom and gloom for the markets, and look what happened.
They were right when you think about it. Dow is up what 0.3% on the year even with QE2, POMO, Tarp money still out there, etc? And here is a ton of money that was printed that is not even tracked by these programs.
If my bucket has a hole in the bottom, but I never turn off the filling hose, it may look like it stays full, but my bucket still has a hole on the bottom.
Except in our case the water is eroding the hole bigger, so the flow needs to be increased to maintain the illusion.
A lot of those points are crap--everyone knows that we never really left the recession, so to say the data indicates we are falling into another recession is kind of stupid. There was 2008 and then there was massive money dumps from governments the world over. And that is the entire story.
http://www.youtube.com/watch?v=gao_K7quCj8&feature=fvsr
...panic? yeah ...I LIKE IT. It seems wrong but ...oh so right. http://www.youtube.com/watch?v=GaimZ4-KKps&feature=related
This all sounds very bullish to me.
Right...???
#26: The Death Cross, and I am surprised none of you have mentioned it in more than 400 comments. The 50 day MA went below the 200 day MA AKA the death cross.
#27: Story on CNBC this morning says that for the first time ever corporations paid more to their CEO's than they paid in taxes, it is only a matter of time before that comes home to haunt them.
#28: NOBODY anywhere actually believes the CPI data the BLS makes up and the financial world is acutely aware of the effect spiraling consumer inflation has on corporate profits. Doubly true when incomes are actually falling.
#29: The largest company in the world is now Apple, if that is not proof positive of disequilibrium in the markets then nothing could be.
#30: Rick Perry will probably be elected president next year and if nothing else scares the financial world (and everyone else foreign and domestic) that should.
What if he chose Ron Paul as his VP? That would be scary good!
http://www.myspace.com/urbandancesquadmusic/music/songs/the-devil-57466543
in the S&P?
what are you talking about? what death cross?
someone recently schooled the whole fuking class to the effect that it wasn't by definition, a d.cross unless the 200 dma was also negatively sloping at the time of the cross, right?
#27: it was on TV, so it's true? prove it! why relate MSM propaganda here? what the fuk does "it's going to haunt them" mean? that they will be like scrooge in "a xmas carol"? to me that is the "plain and most likely" meaning of what you are saying here. if you mean something else, WHAT THE FUK DO YOU MEAN, ASSWIPE?
#28: you don't think he addressed this in #22-25? how is what you are saying different from what he sees happening? what is it about "recession" that you think you understand where he doesn't? what are you trying to pull, here, mr popular?
#29: and what was the "largest" company 3-4 months ago? and what did that "prove" to you? a year ago? three years ago? 5? 7? 10? you think you are making a cogent argument using apple to "prove" disequilibrium? i don't! so, their capitalization soared v. XOM. maybe the apple peeps are just smarter than the ave. capitalist. for now. is that a crime, somehow? apparently, you don't own apple. is that correct? XOM?
#30: some event you deem "probable" 15 months from now, is scaring everybody?
okey-dokey! keep up the torrid heat, mr "boiler-man"!
Death Cross rocks Wall Street
http://www.reuters.com/article/2011/08/19/us-markets-volatility-technical-idUSTRE77I2SO20110819
Would be nice if you learned how to use Google for yourself. CNBC actually also has a good description of the cross. Hey, I am not even a big believer in technical analysis, I think it is only as good as the underlying fundamental data being graphed, but it is popular because it is a lot easier than actually doing your homework.
I suppose different people have different definitions, when I was in college (1993-1996) for my finance degree the 200 day MA did not have to have a negative slope, and I would argue that in a period where fundamentals in the market are this bad it really does not need to be a negative slope. For the 50 dma to go below the 200 dma where the 200 has a negative slope it would not be a warning of a major correction, it would in fact be a crash itself. But, as I am fond of saying here, I have no crystal ball and neither does anyone else. There was a death cross and it should have been on the list of reasons for the financial world to panic, I am guessing the contributor wanted to keep the list to 25 for brevity lest they lose audience, but some of the first 25 were actually so related as to be redundant.
Dear Mr. Rat, for you to call anyone on this board an asswipe is simply not worth commenting on, you being the third biggest troll here and all. You know damn well what it means, there will be political consequences to this news and the nest-feathering class will not like it, and your precious fascist party will take a hit for it in the polls.
As to the rest, they were simple self explanatory statements, if you do not understand them then I am sorry for you. I never asked you to agree, mostly because there are people that post in open public forums that are not worth responding to.
I have had my chocolate ration go........ up. good. Good. Doubleplusgood. I now have.......... more.
Ingsoc thanks you for your doubleplusgood duckspeak. Minitrue supports your fullwise bellyfeel understanding of the blackwhite chocorat increase.
Long live Big Brother!
"Generation Limbo"..or perhaps rationalizing a failed system: Clippings from today's NYT article:
About 14 percent of those who graduated from college between 2006 and 2010 are looking for full-time jobs, either because they are unemployed or have only part-time jobs, according to a survey of 571 recent college graduates released in May by the Heldrich Center at Rutgers
Ms. Kelly said her classmates seemed resigned to waiting for the economic tides to turn. “Plenty of people work in bookstores and work in low-end administrative jobs, even though they have a Harvard degree,” she said.
Some of Ms. Morales’s classmates have found themselves on welfare. “You don’t expect someone who just spent four years in Ivy League schools to be on food stamps,” said Ms. Morales, who estimates that a half-dozen of her friends are on the Supplemental Nutrition Assistance Program. A few are even helping younger graduates figure out how to apply. “We are passing on these traditions on how to work in the adult world as working poor,” Ms. Morales said.
http://www.nytimes.com/2011/09/01/fashion/recent-college-graduates-wait-...
14%? 1 in 7?
in the last five years? and that's "bad"?
we run a higher percentage of clinically insane, here! or is that just me being unfair to bots and trolls?
again
Nothing to worry about. All of this is great for historians but we never even touched 1,000 on the SET. There are plenty of small caps selling at 4 times earnings with great prospects in an increasingly integrated and rapidly growing region with almost one billion people. Currencies that are still extremely undervalued, you don't need a hamburger chart, anyone who gets off a plane at Bangkok or Phuket instantly knows it. You keep worrying, I don't see any troubles at all.
The prey never sees the chameleon.....then crunch...all is dark & well.
How the heck is this boat staying afloat?
Good time to start a funeral home business,,,
Maybe. But I think the Moat and Drawbridge business will prove far more profitable.
Now that Jobs is retiring, HP suddenly wants to build more Touchpads (after announcing 10 days ago that their tablet division was shutting down).
Jackals coming into feed after the lions have had their fill.
nothings ever going to 'end'.... econoclowns and all baby these are high rollers... its a lifestyle
.
http://www.youtube.com/watch?v=v6tqn7uhYKk&feature=related
.
throwing around all the money
I didn't see the word "food" 'til the comments. That saves me some reading. Thank whoever for word search.
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It's too bad there's so much junking going on around here that we have no way to flag the real bullshit spammers.
get this worthless fuking advertising T-R-0-L-L-BOT outa here! it's bad enuf we hafta put up with freaking ori self-advertizing about "god" for pete's sake!
We finally agree on something.
Don't get caught up in a false conflation of interests. It's definitely time for banks and the states they own to panic. But the good guys can chill. And given the fact of the Internet Reformation, unless a cosmically horrific false flag event is arranged, any attempt to reinstitute the draft for a world war of distraction will fail. What-if-they-gave-a-war-and-nobody-came time. So it's not all bad news. Not by a long shot. Certainly not for holders of physical gold. And this time 'round there's a chance we can be rid of the toad that squats on our existence: the Fed. Time to panic? For those who so richly deserve it: yes, at last.
maybe, but the idea that TPTB will re-institute the "draft" and fail b/c of "the internet" may, itself, be a false dichotomy. or two. we haven't had, or needed, a draft in 40 years of near-continual warfare, cold & hot. americans will hire mercenaries to fight for them, just like they "pay" the chinese to "make stuff" for them, or the japanese, or the germans. or the italians. you think our national "defense" (L0L!!!) is based on being able to get 100 divisions of "infantry" into china? or into the USA?
haven't we already had the arranged "horrific false flag event"? who hasn't come to that war? parents watching their daughters get fondled by chertoff's fuking goons in airports? "we the people" who now owe untold trillions in debt to "kind strangers"? people who "own" gold? people who must use FRNs as "legal tender"? our enemies, foreign and domestic? toads?
personally, i think the FED may have a spectrum of possible plans. same as you, or me. yes. i agree there is "a chance" we can get rid of the FED. there is also a chance we can balance the budget; elect a decent man or woman to the presidency or other high office; re-establish Justice; have economic growth in the next year; &tc. so what?
Charts on the movement to save the EURO
http://capital3x.com/?p=584
and the average yield on Greek debt is around 15%. Thus, if Greece’s debt is rolled over without restructuring, its interest costs alone will amount to approximately 24% of GDP.
No. Greece will not go to the markets and pay 15%. To the EFSF and IMF they pay less. Even if they would pay 15%, all the debt will be rolled over not before 2040.
But they are doomed anyway. The second bailout is still not fixed. Recently Greece said, they will make the debt exchange only when 90% participate, and they might not reach that.
Double whammy, shorter term rates for Greece are over 50% (2 year) and S&P is out with a statement that any Eurobond central debt/bailout mechanism would get the rating of the weakest nation participating in any guarantees of such a bond. In short any fiscal union bond issuance would be rated junk from the day of issue.
Euro bond would get weakest member's rating-S&P
Sat Sep 3, 2011
(Reuters) - A joint bond issue by euro zone countries would get the weakest member's rating if the issue was jointly guaranteed, the head of Standard & Poor's European sovereign ratings said on Saturday.
S&P was not in talks with the European Union about the idea because that would present a potential conflict of interest, Moritz Kraemer, managing director, EMEA sovereign ratings, told a panel discussion at the Alpbach Forum economic.
Kraemer said his understanding was that joint euro bonds would be structured along the lines of Germany's jumbo bonds, in which federal states team up to issue debt and each guarantees its own bit.
"If the euro bond is structured like this and we have public criteria out there then the answer is very simple. If we have a euro bond where Germany guarantees 27 percent, France 20 and Greece 2 percent then the rating of the euro bond would be CC, which which is the rating of Greece," he said.
?http://www.reuters.com/article/2011/09/03/europe-sp-idUSL5E7K30Z020110903
don't fight the tape. trade it, make money.
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