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Late Day Derisking As Sovereign Debt Crisis Is Becoming A Banking Crisis

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Wed, 11/16/2011 - 17:29 | 1884526 redpill
redpill's picture

It took them this long to realize they were one in the same.


Smoke 'em if you got 'em.

Wed, 11/16/2011 - 18:16 | 1884796 The Big Ching-aso
The Big Ching-aso's picture



Somebody in the media better ramp the bullshit up to another level.    Even J6P is starting to raise a uni-brow.

Wed, 11/16/2011 - 18:42 | 1884898 strannick
strannick's picture

Late Day Derisking As Sovereign Debt Crisis Is Becoming A Banking Crisis

Thats only fair, since it was the banking crisis that caused the sovereign debt crisis.

Meanwhile we wait for the Benevolent Federation of Planets to come buy all the worlds bonds and bailout earth.

Wed, 11/16/2011 - 23:07 | 1885600 phungus_mungus
phungus_mungus's picture

One day the headlines proclaim its all over, everthing is fine...

The next, its doomed...

Do journalist actually keep track of the stories they write or is it a requirment now you contradict yourself with every other story you write?  


Wed, 11/16/2011 - 17:29 | 1884531 SkySavage
SkySavage's picture

Seriously, you cannot look away from this market for a second.

Wed, 11/16/2011 - 17:56 | 1884692 WonderDawg
WonderDawg's picture

No shit. I've been practically useless on the job the last couple of days, stuck between watching the markets and reading ZH, while trying to get some work done. Oh well, what can I say. We are witnessing a time in history that will be talked about for centuries. This is what a collapse looks like from the inside. It seems to be happening in slow motion, but when events accelerate, as they seem to be doing now, you can literally feel the tension rising.

Wed, 11/16/2011 - 18:08 | 1884766 integrale
integrale's picture

That's the sound of 300M europeans saying fuuuuuuuuuuck...we have to start from scratch...AGAIN?

Wed, 11/16/2011 - 18:42 | 1884885 GenXer
GenXer's picture

I slept so much better before I found ZH. Ignorance was bliss until you're diving in dumpsters for your next meal.

Wed, 11/16/2011 - 22:56 | 1885575 xcehn
xcehn's picture

ZH has that effect, definitely.

Wed, 11/16/2011 - 18:57 | 1884952 strannick
strannick's picture

Man, I think you just made the one statement EVERYONE here can agree on

Wed, 11/16/2011 - 19:17 | 1885031 yabyum
yabyum's picture

Think I will stop by costco for a couple of BIG packs of tp, maybe some more cases of cheap vodka. Sounds like the new wealth to me. Bank run the MFer.

Wed, 11/16/2011 - 20:06 | 1885218 RobD
RobD's picture

lol, I picked up six of those BIG packs at Sam's club a couple of weeks ago. The lady that checks the receipts on the way out gave me a strange look.

Wed, 11/16/2011 - 20:58 | 1885334 DosZap
DosZap's picture


We are witnessing a time in history that will be talked about for centuries.


No, we are witnessing a Biblical event.

Sheep Dog has it nailed as many others.

Name ANY time in recorded world history, that  80%+/- of all nations are going to go down together, in Slo Mo, or overnight.

You can't.

Personaly I believe we are witnesessing the beginnings of the advent of the coming Antichhrist.

Once the system is in place SD spoke of, there will be ZERO doubt.


Wed, 11/16/2011 - 22:48 | 1885552 xcehn
xcehn's picture

So you don't think the print your way out of hell trick will work?

Wed, 11/16/2011 - 23:55 | 1885699 topcallingtroll
topcallingtroll's picture

+1 dawg.

I think it will work out for now temporarily, but I cant take my eyes off either.

Somewhere here soon it will either all go to hell or be a great time for a triple bull etf.

Wed, 11/16/2011 - 17:32 | 1884555 Tsar Pointless
Tsar Pointless's picture

I hope the Grinch steals this year's Santa Claus rally.

For an extra-special gift, I want the world to go MAD for Christmas.

If you know what I mean.

Yes, I am a nihilist.

Wed, 11/16/2011 - 22:48 | 1885555 xcehn
xcehn's picture


Wed, 11/16/2011 - 17:33 | 1884562 SheepDog-One
SheepDog-One's picture

You mean all the ECB's horses and all the FED's GS men couldnt put the insolvent broken banks together again?


Wed, 11/16/2011 - 17:34 | 1884564 mayhem_korner
mayhem_korner's picture



Bloodbath tomorrow?  I'm seeing CNBC up late tonight studying the spin manual.

Wed, 11/16/2011 - 17:59 | 1884716 redpill
redpill's picture

I took a walk at lunch and listened to some Bloomberg radio so I could hear of any changes (even the advertisers and weathermen have NY accents, gets REALLY annoying) and of course by mid-day they were happily declaring how the market was "well off" its lows of the day, "surging back up" after being down earlier.  Unfortunately I couldn't stand listening long enough to finally hear them shit their pants on air when this fake market finally rolled over for the day.

Wed, 11/16/2011 - 19:49 | 1885155 upWising
upWising's picture

LONG Maxi Pads.

And whad da fuk...ya makin' fun a mai aykcent?  Whaddaboutit? Whad da fuk??? You's da one wid da aykcent!

Wed, 11/16/2011 - 18:03 | 1884733 Roy T
Roy T's picture


Spin Manual Lesson #1


After you report any data, quickly follow up with "It is better than expected"

Wed, 11/16/2011 - 18:30 | 1884847 Dr. No
Dr. No's picture

Or adopt the method used quite successfully by the us gov: report better than reality and then revise downward on the next release.

Wed, 11/16/2011 - 20:55 | 1885327 Jay Gould Esq.
Jay Gould Esq.'s picture

Indeed, Dr. No -- a method exhibiting the unmistakable undertones of SPECTRE, in terms of the level of successfully executed deception.

"Government numbers." Oxymoronic.

Wed, 11/16/2011 - 21:21 | 1884873 slewie the pi-rat
slewie the pi-rat's picture


"...italy, in political turmoil due to recent un-seasonal bunga deficiency and facing about EUR400 billion in borrow-or-collapse funding for the coming year as well as having its banks needing to re-po a shitload of worthless paper from the FED system in january, today refused to release GDP data as scheduled...

"...super-mario ITA was overheard saying to super-mario IMF on his cell phone:  'dammit, mario IMF!  we're trying to make things look better here, not worse!' "  [not google translated]


Wed, 11/16/2011 - 17:34 | 1884565 Mactheknife
Mactheknife's picture

CME's stock is in big trouble...CME stated this am that they knew of a 900mil wire transfer out of MFG PRIOR to bk filing.

Wed, 11/16/2011 - 17:48 | 1884654 Scoted
Scoted's picture

Yes, MF global chapter 11 bigger issue than people think. Potential for investors to take fright due to CME stupidity.Surprised ZH has not had more to say

MF global + Euro crisis = potential imminent crash

HY tells all...

Wed, 11/16/2011 - 18:50 | 1884925 ReallySparky
ReallySparky's picture

I too have been dissapointed that ZH has not been covering the MF debacle, however there is good coverage of the MF scandal over at Jesse's ( http://jessescrossroadscafe.blogspot.com/ )  and also Harvey has found quite a bit of info from various sources ( http://harveyorgan.blogspot.com/ )

I am grateful that ZH has been covering the Euro sitituation closely because where else would we get the information?  US Media very quite about Euro Crisis, sooo near as I can tell when Europe blows up and infects all our banks and 401K's go bust, MSM will claim "no one saw this coming".

Wed, 11/16/2011 - 20:00 | 1885196 Zero Govt
Zero Govt's picture

Yes another "Black Swan" event (yawn)

..and Steve Liesmans happy data has been so encouraging recently too... for Steve it'll be a(nother) "surprise" 

Wed, 11/16/2011 - 17:36 | 1884581 0cz
0cz's picture

Get your shit together and attack already, Andromedans.  We are hurting over here on Earth and need some of the debt destroying laser action.

Wed, 11/16/2011 - 17:39 | 1884603 The trend is yo...
The trend is your friend's picture

When will the ecb finally throw in the towel and print?  ES 1100?, 1000? 900?......i would normally say....god only knows BUT 'll re phrase....GOLDMAN ONLY KNOWS

Wed, 11/16/2011 - 17:42 | 1884614 SheepDog-One
SheepDog-One's picture

Theyve tapped that keg dry long ago. No one wants their stinkin fake money anymore.

Wed, 11/16/2011 - 17:43 | 1884628 CClarity
CClarity's picture

. . . cuz they do God's work . . . that Man of Gold.

Wed, 11/16/2011 - 17:48 | 1884658 Dismal Scientist
Dismal Scientist's picture

Only when Sarkozy admits that Merkel is in charge. Then the ECB will print, but it will be too little, too late...

Wed, 11/16/2011 - 17:40 | 1884610 Scoted
Scoted's picture

Deer in the headlights scenario.

Batten down the hatches everyone, a crash is coming!

Wed, 11/16/2011 - 17:40 | 1884611 navy62802
navy62802's picture

It's always been a banking crisis. Only difference is that now someone had the balls to put it down on paper. I guess as long as we ignore the truth, then the truth doesn't matter. That's what I take away from this situation.

Wed, 11/16/2011 - 17:41 | 1884617 pelagivore
pelagivore's picture

Market on risk-off mode... until the politicians promise another round of emergency meetings, or China investment rumours, or any other intangible 'positive' news comes off the wire. I give risk-off a week at most and then there will be another proposed stop-gap measure that will be completely useless and we start over from last month. Will be interesting to see how gold reacts over the next few weeks, probably sideways... until the printing begins as it must, eventually.

Wed, 11/16/2011 - 17:47 | 1884638 SheepDog-One
SheepDog-One's picture

Darn, and just when everyone had declared everything fixed and humming along so smooth. Nah, no printing, time to pull the rug out. 

Theyve planned it all for decades, we're here now, everyone is screwed just like how they designed it, no more magical pixie dust farts from pink unicorns in equity market faces. World war and economic chaos is now, no doubt.

Wed, 11/16/2011 - 17:51 | 1884675 pelagivore
pelagivore's picture

Planned it? Hardly, you give the establishment far too much credit... 'Milked it' is more like it, and they will all continue to milk it or at least try to keep the cow alive as long as they can... I give it about a year or so.

Wed, 11/16/2011 - 17:54 | 1884683 SheepDog-One
SheepDog-One's picture

Nope, youre delusional if you think this was all just happenstance with random bankers just inventing new shit like CDS swaps to cumulate a debt of $1.5 quadrillion dollars...its been planned for decades to establish their 1 world bank, 1 world govt, and 1 currency. Theyre here now.

Wed, 11/16/2011 - 19:17 | 1885033 Hot Apple Pie
Hot Apple Pie's picture

It's delusional to attribute a vast coordinated conspiracy over decades when it can all be explained by simple, short-term greed. The guys who got rich in the past 30 years don't care if the economy collapses, most of them have private islands, seafaring yachts stocked with supplies and small militaries worth of private security.

Wed, 11/16/2011 - 19:48 | 1885150 g speed
g speed's picture

don't envy these guys-- their kids will kill them just like murders in the old royal families-- absolute power corrupts absolutely

Wed, 11/16/2011 - 19:44 | 1885141 g speed
g speed's picture

No plan--just uniform greed and corruption makes it look like a cordinated effort.

Wed, 11/16/2011 - 20:19 | 1885255 oogs66
oogs66's picture

I think the market is long now and needs more than promises

Wed, 11/16/2011 - 17:49 | 1884649 SheepDog-One
SheepDog-One's picture

Hey where'd all the bulls go? Come on back and tell us how your BTFD went this morning, dont be such pussies all us 'doom n gloomers' are always here every day you guys! Come on Robo I see you there down voting my comments come on out and tell us what you bought today thats up! If you can find anything.

Wed, 11/16/2011 - 17:54 | 1884691 pelagivore
pelagivore's picture

True! Robo and Million dollar trader have both been very quiet recently

Wed, 11/16/2011 - 20:54 | 1885330 hardcleareye
hardcleareye's picture

That's because he pissed off his mom and she hid the power supply for his computer.


Wed, 11/16/2011 - 18:31 | 1884849 HelluvaEngineer
HelluvaEngineer's picture

Fwiw, I mentioned BTFD this morning, and they did close the gap.  Also FWIW, I'm caught short.

One day this is going to completely crack and the market won't open.

The 20 somethings in my office are all buying momo stocks right now.  What can I tell them without sounding nuts?

Wed, 11/16/2011 - 18:38 | 1884871 JohnG
JohnG's picture

Nothing.  Never argue with idiots.

Wed, 11/16/2011 - 17:49 | 1884659 Mark123
Mark123's picture

Notice how nobody is even talking about Greece anymore?  I think once they told banks to atke a writedown it opened pandora's box....Italy and Spain look bad.  Until that point the only sovereign default was by inflation.

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