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The "Lehman" Moment

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Tue, 09/20/2011 - 15:55 | 1689903 GeneMarchbanks
GeneMarchbanks's picture

It's all coming together nicely...

The Grease fire is spreading like the plague.

Tue, 09/20/2011 - 15:58 | 1689928 He_Who Carried ...
He_Who Carried The Sun's picture

As  I type the TROIKA is on the phone again with Athens!

Why is there almost NO COVERAGE today?

Tue, 09/20/2011 - 16:02 | 1689949 nantucket
nantucket's picture

hey now!

Tue, 09/20/2011 - 16:15 | 1689990 redpill
redpill's picture

These belligerent markets! Just how many PapanTroika conference calls will it take before they are satisfied? We're talking on the phone, obviously everything is fine. Stop selling! Sellers should be arrested.

Tue, 09/20/2011 - 16:59 | 1690108 Spirit Of Truth
Spirit Of Truth's picture

The "market" waits until the opportune seasonal moment to break: Autumn Panic Update

Tis the nature of the beast. 

Tue, 09/20/2011 - 22:04 | 1690798 jeff montanye
jeff montanye's picture

in two, one ....

Tue, 09/20/2011 - 16:04 | 1689955 Arkaenun
Arkaenun's picture

They are all too busy staring at your avatar.

Tue, 09/20/2011 - 16:49 | 1690071 He_Who Carried ...
He_Who Carried The Sun's picture

That I CAN change...
Seriously, DPA (German Press Agency) gives updates, Le Monde reported, no Spanish, no English speaking paper does... weird!
http://www.rhein-zeitung.de/newsticker/popup.php?cobo=1622
http://www.lemonde.fr/economie/article/2011/09/20/la-grece-a-a-nouveau-r...

..

..

According to the latest "good progress" has been made and the TROIKA will return to Athens next week.

Of course... Funny, I don't trust them...

Bloomberg just joined:
http://www.bloomberg.com/news/2011-09-19/greece-aid-talks-to-continue-af...

Tue, 09/20/2011 - 21:03 | 1690670 Stax Edwards
Stax Edwards's picture

Please cover them up some of us work in environments where this is frowned upon, if you don't mind.  You wouldn't want to see anyone lose their job over that fugly rack would u?  Put a cover over em

Tue, 09/20/2011 - 22:05 | 1690801 jeff montanye
jeff montanye's picture

fugly is as fugly does.

Tue, 09/20/2011 - 22:38 | 1690862 He_Who Carried ...
He_Who Carried The Sun's picture

Sorry, 'tis nature - gods creation and all human - my friend.

Either like it or find yourself another planet where lifeforms are born veiled

and females locked up.

Tue, 09/20/2011 - 23:09 | 1690917 snowball777
snowball777's picture

how about you find a less retarded place to work?

Tue, 09/20/2011 - 16:31 | 1690038 flacon
flacon's picture

That can't be. It's ciesta time in Greece!

Tue, 09/20/2011 - 15:53 | 1689911 lizzy36
lizzy36's picture

Amusingly i pointed this out to a friend last friday, when he said "the market expects greece to default and it is largely priced in and contained".

Controlled implosions rarely work.

In this case not even a possibility.

Tue, 09/20/2011 - 15:56 | 1689920 GeneMarchbanks
GeneMarchbanks's picture

'Controlled implosions rarely work.'

You had Geithner in mind, admit it.

Tue, 09/20/2011 - 16:08 | 1689965 maxmad
maxmad's picture

Actually building 7

Tue, 09/20/2011 - 20:26 | 1690595 Savyindallas
Savyindallas's picture

I'm still wondering  why we didn't capture and waterboard Bin Laden to find out who helped him with WTC7 for explosives. Of course, I shouldn't be so hard on the navy seals team  - pretty hard to get much useful info out of Bin laden, considering he died in late 2001/early 2002.    

Tue, 09/20/2011 - 23:11 | 1690924 snowball777
snowball777's picture

I'm sure they could get a hand up his ass and do some ventriloquism about yellow cake if it served their purposes.

Tue, 09/20/2011 - 16:02 | 1689946 malikai
malikai's picture

On the contrary. Controlled implosion has been perfected in the field of nuclear weapons. And it is quite fitting here, if I may add.

Tue, 09/20/2011 - 15:53 | 1689912 Robslob
Robslob's picture

Lehman bankruptcy...BULLISH!

Tue, 09/20/2011 - 15:53 | 1689913 wretch
wretch's picture

I doubt it'll be a whole 6 months again.  Bitchez.

Tue, 09/20/2011 - 15:56 | 1689917 Pretorian
Pretorian's picture

Watch out for BEN chopper mechnic and ECB professional idiots. They might pass a law requring DOW to hit 14 000.

Tue, 09/20/2011 - 16:17 | 1689997 TheSilverJournal
TheSilverJournal's picture

It's going to blow! Get to the choppa!!

Tue, 09/20/2011 - 15:55 | 1689918 rajc
rajc's picture

few of my favorite stocks borke today: aapl, CF, bidu, apkt and fcx. day when CAT breaks below 80-81 its decisively bear market.

 

 

Tue, 09/20/2011 - 16:03 | 1689952 Dr. Engali
Dr. Engali's picture

We have been in a bear market since 2000.

Tue, 09/20/2011 - 15:58 | 1689924 I am more equal...
I am more equal than others's picture

October...November...  while those who have clawed back some value in their 401Ks, etc, buy into the Animal House illusion 'all is fine, do not panic..' are clueless to the impending doom and despair that awaits them.  Wylie E. Coyote would be proud of the air time achieved in this vapor market.

Tue, 09/20/2011 - 16:20 | 1689926 hambone
hambone's picture

Strange ZH would post this now???  What relevance could this have to our present day market???

Is ZH trying to break BB's mojo ahead of his big day tomorrow???   Ben, if you're snooping ZH again, Keep your eye on the prize Ben, victory will be yours.  Shock the world and lets get this party started.

Plus - BB, if your listening, you may need to buy a shit load of copper cause otherwise one look at the good doctors chart seems to be implying a pre-Lehmanian economic collapse. 

Tue, 09/20/2011 - 15:58 | 1689929 Dr. Engali
Dr. Engali's picture

Greece isn't going to give us that "Lehman moment". It is going to be something out of left field that nobody is looking at. Well very few are looking at. My money is on China blowing up.

Tue, 09/20/2011 - 16:03 | 1689951 moldygoat
moldygoat's picture

Lindsey Williams did say "china was the big one". Could he be right?

Tue, 09/20/2011 - 23:14 | 1690936 snowball777
snowball777's picture

Who the fuck cares what a jackhole moron like Lindsey Williams says? You might as well take advice from homeless people and your pets.

Tue, 09/20/2011 - 16:12 | 1689976 Cliff Claven Cheers
Cliff Claven Cheers's picture

Yes, like a 300 lb chunk of of a broken up satellite falling back to earth and hitting say a nuclear power plant.  BTW according to nasa there will only be 8 chunks that make it all the way to earth and a 1 in 3200 chance it will hit a person, this thursday or friday.

Tue, 09/20/2011 - 16:16 | 1689991 Dr. Engali
Dr. Engali's picture

Yeah I read that too . They will just cover it up like the explosions in Japan and France. We never hear anything about them. What about the missile China launced off the coast of California?

Tue, 09/20/2011 - 16:23 | 1690014 TheSilverJournal
TheSilverJournal's picture

China won't blow up:

1. China makes stuff.

2. The RMB will rise once the Chinese stop throwing their purchasing power out the window by buying soon to be worthless US Treasuries, which will make the Chinese richer.

3. The Chinese need a large down payment in order to bower money in order to borrow real estate, so even if real estate prices drop 30%, hardly anyone will be underwater.

Tue, 09/20/2011 - 16:35 | 1690051 hambone
hambone's picture

Uhhh, wouldn't be so sure there sparky...if these folks had bought these as primary dwelling, might agree but that's just not the case...

60 to 80 million condo's purchased as "rentals" but are instead now vacant...these were bought as speculative flippers and now the market has them caught - plus the owners are far worse off cause it's mostly their money that's evaporating instead of the banks. 

As rentals, these places are fucked as the average Chinese citizen can't even dream of owning or renting at anything close to covering owners nut.

Of course China gets the majority of it's tax revenue from new construction so they must keep building to maintain revenue...not good for a market already completely saturated w/ RRE and CRE.

China is different than US but still big trouble...not sure how it will play out but lotsa pain to be had.

Tue, 09/20/2011 - 16:45 | 1690082 Panafrican Funk...
Panafrican Funktron Robot's picture

One needs only to look at how Chinese reverse mergers have performed to get a glimpse below the tip of the iceberg.

Tue, 09/20/2011 - 16:44 | 1690075 SMG
SMG's picture

1. What if no one wants your stuff or your foriegn customers  or own people can't afford it.

2.   Thus making your stuff too expensive, see #1.

3.   Haven't prices in some ares risen in hundreds or thousands of %, Partly pushed by a goverment spending spree of stimulis, that is now coming to an end.

China won't blow up:

Not saying your wrong, just something to consider.  Possibly change won't to might. 

  

Tue, 09/20/2011 - 16:31 | 1690037 oogs66
oogs66's picture

at some point if all their companies are frauds, isn't there a chance the whole country is a fraud?

Tue, 09/20/2011 - 17:31 | 1690178 zorba THE GREEK
zorba THE GREEK's picture

doc, I agree, it's almost always something few expected that is the black swan.

Tue, 09/20/2011 - 16:01 | 1689942 CapitalistRock
CapitalistRock's picture

Greece will be a drag long after they miss their first bond payment. The belief that those bonds will return 80% after X years will be debated and the banks simply won't have to write stuff down much. The only thing that changes after a sovereign default is the new terms on the debt. It certainly won't go away.

Tue, 09/20/2011 - 16:01 | 1689944 nantucket
nantucket's picture

i have far too little patience for things to play out,...since we have almot 99.9% certainty how it's gonna end, let's effin get there and move on.  this stupid delay game by TPTB may be the end of me i tell ya.  they're doing it just to eff me over.

Tue, 09/20/2011 - 17:05 | 1690125 Herman Strandsc...
Herman Strandschnecke's picture

It's times like these that you wish you were an immortal. (Ancient Greek god btw).

Lets get it over with and out the other side within our lifetimes please.

Tue, 09/20/2011 - 21:53 | 1690774 Vilnin
Vilnin's picture

I'm channeling Diogenes until this is all over

Tue, 09/20/2011 - 23:14 | 1690937 snowball777
snowball777's picture

Nice lamp!

Tue, 09/20/2011 - 16:08 | 1689960 falak pema
falak pema's picture

damnadation is the name of the coming age. Note it down in your agendas. Damnadation is the future. Lehman is the signature of its tipping moment. Now the continents are on the move and nothing can stop it. Hubris and Nemesis. Global Implosion.

The four horsemen rove the continents like free agents of inevitable destructive change, we are witnesses to its coming moment

Humanity has to find an antidote to damnadation. Its a formula that's only know to those who don't play the game, pure Gandalfian staff carriers who are harbingers of the other game, that of virtue. Outnumbered, they need their Tom Paine to light the flame of civic manifestation to reaffirm its undying claim. Back to Jeffersonian virtue.

Tue, 09/20/2011 - 16:09 | 1689967 sdmjake
sdmjake's picture

Speaking of those roaming Four Horsemen, looks like the 'dapple-grey' might be headed back to Japan...

http://www.nnvl.noaa.gov/MediaDetail.php?MediaID=843&MediaTypeID=1

Tue, 09/20/2011 - 16:15 | 1689988 Cliff Claven Cheers
Cliff Claven Cheers's picture

Good catch, I completely missed that Typhoon.

Tue, 09/20/2011 - 16:43 | 1690069 hambone
hambone's picture

Cat 3 or 4 making landfall near Tokyo - Krugmanian Bullishness for you Japan!!!

Tue, 09/20/2011 - 16:08 | 1689966 kito
kito's picture

cant wait till tomorrow when benbucks says nothing new. i wonder how much longer before the market realizes he is stringing them along with nothing to show for it? could it be tomorrow? NO SOUP FOR YOU!!!!

Tue, 09/20/2011 - 16:10 | 1689969 hambone
hambone's picture

Eventually he'll give them everything and eventually it will be worth nothing.

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