This page has been archived and commenting is disabled.
In Past Week Americans Pull The Most Money From Stock Market Farce Since US Downgrade, Despite Market Surge
As if we needed another confirmation that the sad joke of a market has now succeeded in driving virtually everyone out courtesy of precisely the kind of bullshit we saw in the last 30 minutes of trading today, here comes ICI with the latest weekly fund flow data. It will not surprise anyone that in the week in which the S&P rose by a whopping 8 points on absolutely nothing but more lies, rumors and innuendo, US retail investors pulled a whopping $6.7 billion from domestic equity funds: the most since the week after US downgrade when a near record $23 billion was withdrawn. Only unlike then when the market bombed, this time it simply kept rising, and rising, and rising. In other words, every ES point higher serves no other purpose than to provide an even more attractive point for the bulk of that now extinct class known as investors to call it a day, and pull their cash out of this unprecedented shitshow that central planning has converted the market into. And for those keeping score, a total of $123 billion has now been pulled from stocks in 2011, well over the $98 billion withdrawn in 2010.
There's nobody left: just the occasional robot.
SkyNet has won.
»
- 19234 reads
- Printer-friendly version
- Send to friend
- advertisements -
Know when to walk away, know when to run...
You know the shit is going to hit the fan when the world is waiting on the agreement of a group of socialist, fascist, Keynesian, retards.
Learn how to hunt fools.
http://www.youtube.com/watch?v=VtiBdBc2uMU
The President's Working Group must own half of the equitie market.
Damn, being short in this market feels like I just walked through an automatic car wash.
Long straddle and play the volatility from both sides
trade a strip straddle if you,re bearish
buy 1 ATM june 12 call option and at the same time
buy 2 ATM june 12 put option
... and trade a smaller ratio of short options against them to protect against time decay.
You need to stick that hog a little lower "hunter".
You lunged him to death.
Shitshow. Lol
When everyone is in money markets, that's when the real shitshow starts because money markets are gonna blow up first.
And that is when the sheep will wake up and become "freedom fighters". Real pitch forks, chaos and such.
Yep.
Why does your video show people who have no idea what to do with the hog once they catch one?
In hindsight, I think it was used as an instance in which people need to learn how to hunt. Not as an example of his hunting prowess.
Bank run is ON!
if 95% of retail investors are wrong, this means markets are going higher purely from a contrarian perspective
Retail investor can't afford to lose any mo fiat.
Core Logic is out with the state-by-state housing value change for the past 12 months, chart via Dr.Bubble . OUCH !
http://www.doctorhousingbubble.com/wp-content/uploads/2011/12/home-prices-us-map.jpg
So is this not totally bullish? It seems to make it much easier to manipulate it up if there is nobody left.
HeHe, shitshow.
I have done my part, told my folks to dump half of their mutual fund holdings....and to dump the other half if Santa and his 'green' nosed reindeers show up this xmas.
I do my part too by visiting the fine momos on CNBC chat and reminding them that even the 2 watt bulbs in mutual funds are brighter than they are and got the hell out.
Going long on the Bank of Sealy.
how does the market melt up if everone is withdrawing? Who is buying?
David Corzine got some GS $$$$$$.
401(k)s and they won't know until after the New Year where a unceremonious dump will follow.
I am SO glad I didn't sign up for my employer's plan (cheap fuckers dont match anyways; however, I had to OPT OUT of it - what a racket).
The guys who are pulling their cash out have the smart people working for them.
I did, and after I figured out the racket, I stopped contributing, did the max loans (50%) twice, buying PMs.
Fuck 'em.
We got out of ours.
The Board met and made new policity effective immediately on 401k. ANy employee holding 5K or less can cash out immediately while any others above 5K is converted into a Annuity payable at 62.
One annuity was good. But have thought about using Wentworth or some other service to pry the money loose lump sum and screw the remaining 5 years of payouts...
I hear you but you have to worry about the ability of the insurance company to pay out the annuity at age 62. Really worry. An annuity is an unsecured promise to pay (albeit "regulated"), not unlike a credit default swap with no collateral.
Great explanation. One problem is that the "regulated" part is on shaky ground too. Just search PBGC and pension short falls. Just because they send you a quarterly statement, doesn't mean the money is there.
That annuity trick is not legal. Fight back. They have fiduciary responsibilities to provide multiple options(see ERISA). It's just a way to kick the can down the road and avoid a 401k "bank run". No different than insurance companies selling hurricane insurance before a storm and then declaring bankruptcy after the event.
These scumbags treat people's pensions as their own money(ie MF Global). It has to stop.
How is that legal? They force anyone with over $5,000 to go into an annuity? If it is Fixed they force you to get the terrible interest rates that are around thanks to ZIRP. If it is Variable, I'm sure the manager forces you into the stock market bubble.
Algos, Robots, SkyNet.
And yes, I had a nice short position on that got reamed.
DavidC
"how does the market melt up if everone is withdrawing? Who is buying?"
That's why it melts up. very low volume. if everyone pulled out and there were only two traders left they could decide manipulate the market and transact the spx at 1600 if they wanted to for a whopping 27% gain
Bizarro World, where the marginal buyer/seller not only represents the market, it IS the market.
Light volume ramp. Takes less cash. And check margin debt, quite high given where the markets at. In other words hedge funds in and cash equity holders out. If your long be very careful here. Markets walking on air. We could move higher into yearend but I'd be concerned the bids fall away sooner.
the smaller the market the easier it becomes to manipulate higher or for that matter lower. The big problem which the fool Bernanke fails to recognize is that the fewer market participants the smaller the wealth effect for the people he claims to care for. Bernanke is a failure and no one can defend his policy.
If he really wanted to re-inflate the ponzi - he should have came out of the closet and told everyone 'the ramp' is on, buy stocks, even if you can't afford food or gas, because stocks are going up. We'll all have skin in the game. Make it illegal to NOT be in the market - the children will buy equities of those retiring and their children will buy stocks to pay for their parents retirement and.... on ... and on........
That would work, right!!?
Does nobody see this is all intentioal? collapsing currencies all over the world and now the US has been put in the position to print and print and print to ultimately collapse the dollar. This has been an effort to get rid of the dollar as the worlds reserve currency as stated by china, russia, opec. the fiat system was put in an awkward postion to have DC to save their banker and wallstreet buddies even though by printing only to lose our freedom and sovereignty through a eventual world currency / planned economy. Lehman was allowed to fall because of the importance in the global markets via their commercial and money market accounts. when that froze up and no one had anywhere to run, they ran to printing money. George Soros sums it up best in his Open Society where he seeks no borders or nations or cities or towns. You may dismiss him but all you have to do is read his books and his theory of reflexivity and falability. No Joke
Well that's putting the cart before the egg.
Soros does nothing to benefit anyone but himself.
Ghost in the Machine. Not kidding.
Aurora Ex Machina.
I did tell ya all...
Whatsamatta? Too good to use y'all? ;-)
I prefer youse. As in, "All youse guys know I tolja ta buy PMs, and now youse guys ain't gotta pot ta piss in or a window to trow it out...."
Sheeples are paying down debt, not "fleeing" the market!!! Only the ones with investable assets and little to no debt will stay inn! IMHO!
Was it not because of the MF Global event? I would forget about the 8% and keep my cash.
I know a lot of people who are dumping their horseshit funds but instead are buying individual dividend paying blue chips etc. I don't know if/how that is accounted for here.
I'm sure Mary Schapiro of the SEC is right on this...just as soon as she finishes her three year long meetings with Wall Street criminal banking syndicate giants like J. Dimon...about what SEC rules Mary should just forget about.
What an absolute disgrace. By contrast, dumb ass Bob Pisani summed it all up with, "Well, it [IMF rumor] may have been denied, but it moved the markets." This is the state of "journalism" at the BlowHorn [CNBC].
OCCUPY CNBC!
Occupy the SEC
Occupy the FED
Occupy the MSM
Occupy Goldman
Occupy the "Tribe"
SEC = Shred Evidence Completely
Save Every Corporation
Sheep Excrement Commission
The Golden JackAss Jim Willie even says your money isn't safe in your TD Ameritrade accounts. Crazy times we live in. I'll be sitting this one out for awhile.
With what has happened at MFG, it's obvious that nothing is safe anywhere (other than in hand), as even the facade cannot be maintained any longer. I was just over at Jim Sinclair's Mineset, where he posted another article about getting your stock certificates, rather than let them live digitally in the system.
So, it isn't even limited to just money, but even speculative money substitutes.
Worse yet, was another article by Greg Hunter discussing MF Global impacting farmers who suddenly have no money to access in order to buy seeds for next spring. Instead of relying on their own capital, they may be forced to borrow if there is no resolution soon (which, of course, we know isn't coming).
So, lets recap, Corzine takes down MFG, MFG takes down the commodity futures market, which takes out the farmers, which takes out the food supply.
TADA!
worse yet tomorrow we get to see the congrssional show on Corzine and isn't it funny how Blogo gets 14 yrs. I'm betting Corzine doesn't see 14 days.
...unless he goes on a cruise, and spends two weeks on the beach.
The Golden Jackass ROCKS!
Where have all the bagholders gone?
Long time passing.
Where have all the bagholders gone?
Long time ago.
Goldman's picked them, every one.
When will they ever learn?
When will they ever learn?
Burn baby burn!
better safe than homeless
So are we still sure that all that FED money is sitting in treasuries??? no it is in the ES Minii, SPY, IWM and QQQ. This is going to end badly.
Yup, markets are nothing more than a game of Monopoly now.
Who cares that the world economy is collapsing around our heads? I've got three hotels on boardwalk!
Perfect! Now the insiders and algos and do some real gambling.
This may be on topic again:
http://madscienceunlimited.com/fiction/theexchange.html
It's all good fun until someone wakes the firebird and brings a taste of Hell to Wall Street.
what do you people expect to do with all of those worthless dollars when the dollar no longer exists? what happens to the companies that lose equity and go out of business cause they have no money that is worth a damn. so much history to say this doen't work and yet we are continuing this path to destruction. dollars in bonds and any other financial intrument will be worthless. So why do you continue to trade in a dying dollar. got gold or silver or guns????? Oh ya and lots of TP cause lots of people are going to shit themselves when this all goes down.
This isn't good, how does Robotrader do?
I am waiting for Tyler to tear Jamie Fuckface Dimon a new one after his "Stop Bashing the Rich " rant today! http://www.cnbc.com/id/45586932
Dimon is clueless. He will get his.
I think everyone is sick of this.
Agreed. I much prefer a real market to a rigged casino.
Sounds like massive amounts of dry powder available. Somehow that must be bearish.
Well, if you trade every day and close out all of your positions every day, I guess they can say that there is a lot of cash on the sidelines but that does not mean your cash was not in the market for the day.
I prefeer to do this if at all possible. That way they cannot count me as a long or as a short. You cannot be counted as a Short that could cause a short squeeze if you clear out every day. Same with long positions where they want to shake you out.
The money you make during the day is yours and not in the Market for manipulation thru Gap up or Gap down opens. Or an upgrade or downgrade. You are positioned to trade any way you want.
I think everyone is sick of this.
Bring on the financial transaction tax and put the HFT computers out of work for good.
Is anyone concerned that the long run net effect of this is for the Fed and their TBTF financial partners to essentially own and control an increasing amount of the productive capacity of the USA by being the last shareholders standing?..Bought with recently printed fiat? Isn't this a road to fascism?
What happened to the idea of an "ownership society", where a majority had a stake in the economic performance of companies, and would therefore be motivated to vote to enhance the climate for business and growth?
Has anyone done a study of the performance of companies with diverse and active investor shareholders vs. companies that are largely owned by a smaller number of relatively disinterested institutional asset managers?
that's their plan. "deflation" will continue until most people have thrown in the towel - and the banks have been able to foreclose of most of the small businesses, houses, family farms, state parks, etc. etc. Once Gov-Co has a lock on all sectors of the economy, they'll turn the inflation machine back on and resurrect the economy - owning all the productive assets and having no competitors. to a central planner, that is perfectly logical
As well as profitable.
It's the Pwnership Society now. I have the memo. I will forward it.
SkyNet becomes self aware on December 23, 2011.........Just in time to make out with robo trader underneath the debttoe *cough ..ahem...mistletoe...
Okay - I'll bite, why is December 23rd important?
still holding my DOG shorts. not doing very well, down over 6 percent......
Got to liquidate what's left of the savings in order to buy junk shit from China for Christmas in order to feel better...
Ho, ho, ho!!!
$123 Billion pulled out? Big deal! This is the era of TRILLIONS!! $123 Billion isn't even chump change these days. Nothing to see here. Move along.
Stock Mutual Fund Cash Levels Drop To New All Time Record Low
Tyler - Is that still as of 8/11 or is it/there an update to end Nov 11?
This chart seems to indicate Fund Managers are more bullish now than the last 25 years, as they are 96.5% invested with only 3.5% cash on hand.
I thought about making the same comment, but I just couldn't get my toungue that firmly in cheek.
Same. They are chasing the year end goal of meeting or beating the market and the performance of their peers, and have no choice but to go all in, and hold their breath, figuring the worst that happens is that the market dives (in which case their peers are also hammered) The engineered rise of the equities market in the past 2 weeks has them in a real bind - think about it. They are behind and now have to catch up, ergo Santa Claus rally. But it's all air. Europe looms, but if there is a crisis and the ECB relents (both events seem probable) and prints the hell out of the Euro, look out for that rally. The bankers will have won another round, with fat bonuses and cohibas for all, and everything - including the politicians and regulators - firmly under control, and the concepts of justice and rule of law relegated further to the status of quaint but outmoded ideas.
Bullish!
... Cash has gone the way of John Corzine - vanished without a peep.
the money may be chump change but the psychological impact of let's face it an irrational and untrusted market will last for a decade or more on this generation of investors. Can you see that. Get it.
Got it!
Ha ha ha HAHAHAHAHAHAHAHaAAAAA!
LMFAO
HA HA
The contrarion indicator? If retail is pulling out, doesn't that mean the market is poised to go higher and retial will end up chasing as usual?
LOL... What exactly will they be chasing when they're broke? They're pulling their money out to pay bills and spend it.
...stopped trading 3 months ago. Actually got out at a miniscule profit money wise, but at huge expense emotionally/physically. Trading US markets from New Zealand is a motherfucker and I have been a bear for a long time. Not now though...have been beaten. This is a fucked up manipulated bullshit casino. Bought my last 15k tranche of physical gold at 1640 and NZD at .83. Print away motherfuckers...I am satisfactorily positioned. Will miss trading (after 27 years of it!).
I am out of the market. I may miss some profits but I won't return until I believe it is an honest game to play.
Besides I received a call from the "Jon Corzine Bat Phone" to buy!
How the hell do you think all these financial instruments were created if not to give some value to worthless mortgages? The GSE' own more that 70% of all mortgages, that gov't owned. Fannie Mae operated on the stock market and fudged their #'s to get their bonuses. this contagion was spread world wide via repeal of glass steagal which gave the banks the ability to be exposed to investment firms that merged with them. The regulators were the biggest beneficiaries of these GSE's politically who did everything they could to prevent their regulation. Communists are communits and you should try reading the communist manifesto if only to under stand what these type of people believe. especially if they are useful idiots who buy into hope and change, social and economic justice. these are just emotional ploys to get people to go along with more gov't. Sounds like planning to me. BTW, what is the first tenant of communism? Abolish private propery. you would never go along with their plans if they were honest in their ideas so they use phrases that invoke emotions and not logical thinking.
Who was John Corzine btw? A former Governor and a state senator....from New Fucking Jersey, the realm of integrity just below Chicago. Oh where does our dear leader hail from? Chicago. Corzine was also at the Nut Sach along with every other gov't worm
thats don "corzini" to you......
As Eddie Murphy once quipped, the investors may be cashing in to buy the GI Joe with the kungfu grip for little Jimmy at christmas.
Seriously, it's been noted on a number of occasions on ZH that retail is all but gone. The volume of trades that could have been counted in the billions per day a few years ago on the major exchanges is now in the millions. So what or who is still driving the markets? Why aren't all the brokerages broke? My guess is they will all be filing chpt11 sooner or later, and the only swinging dicks in the markets are the algorithms of the bigger finance houses, the die hards who can't do anything else, and of course Bernanke's pet 21 primary dealers hoovering up every penny they can get to gamble on the markets to bulk up their bonuses. It's a funny old world.
I think the 401K/IRA holdings are still largely untouched. The percentage of people who can be convinced that the 10% tax penalty is worth paying seems to be pretty small. I work with mostly uninformed people, and plenty of them are contributing as much as they can to the company-provided 401K. (I'm doing 1% 'cause it's the smallest amount I can do without having to fill out some paperwork.)
I'd bet the dumber/slower of the companies managing big retirement accounts are probably paying the HFT-bots a few pennies per trade.
401Ks - absolutely & kudos for your pension strategy. As for the companies managing big retirement accounts, you have to wonder if anyone actually reads the news these days - it's full of stories about cash strapped ceos dipping into whatever is left of the retirement funds of employees.
Looking at the performance of equity portfolio managers, the HFT machines they use must be ZX81's.
wat, humans still trade?
Wait a minute, this is all gibberish!!!!!!!!!. How did people pull out money from mutual funds (implying, the stock market)? With a corkscrew or what?
When "people pull out money from the mutual funds", they actually sell their funds back to the fund company, which then sells it to another mutual fund investor, or ultimately sells the underlying stocks/bonds on the market, to somebody else! I.e, there is the same amount of stocss/bonds as before. The only thing that could have happened is that the people sold their holdings for less than they bought.
And another thing, what about ETFs? Could it be that Americans are selling mutual funds to buy ETFs?
If anything, this sounds to me as a perfect contrary indicator!
Umm... that "somebody else" is Benron, who bought the stocks from the fund with the purchasing power that used to be within the money now in your hand.
By your logic, if money cannot leave the market, then it cannot enter, either. The trick here that you're missing is price. A real market would show the cash drain as a downward pressure on prices. What we have instead, is a magical levitation, so as not to scare the remainder into racing for the exits faster than they can monetize them.
Stocks "disappear" from the market only if they are repurchased by the company. That is the only way.
This is probably the worst post I've seen from Tyler. The market is the market. It goes up and down for numerous reasons. It is neither moral nor a-moral, therefore the name-calling of the market is misplaced. Truly, this post sounds as if Tyler has simply lost a lot of money in the market, and just doesn't like it very much.
While I can't speak for anyone but myself - the issue is that over the years we have moved from a transparent free market to a poorly regulated debt driven market to now a central planner manipulated and controlled market.
As I said, the market moves for many reasons. We either take advantage of the movement or it takes advantage of us. The market itself is neither moral nor a-moral, right nor wrong.
So. you're saying that there's no value to be gained in watching the race for the exits? Interesting.
I disagree.
The market should be neither moral nor immoral. The market should be amoral.
Looks immoral to me right now.
"It goes up and down for numerous reasons."
And there is the rub. It may go up and down for many reasons that have nothing to do with the perceived value of the underlying companies.
If "The market" is rigged, doesn't that make it something other than a market?
Compare the broad averages to the cost of a gallon of milk or any other basic staple over any extended period of time and it is a joke. The stock market is a great tax on "Investors", (there is another fucked up term, " Investors")_... How can anybody call the US markets investing at this point? Yeah, give your money to the wolves they will take care of it like they always have.
I am trying to start a personal compaign asking people to pull their money out of the stock market and not to use credit/debit cards. It is the only power we have againt the wallstreet and the banks. I have registered a domain named "NoStockNoCard.com" and plan to build a community where you can exchange ideas on how to fight back without getting arrested. What do you guys think?
And what do you do with the money? Hide it under the matresse, or in a vault (and pay service fees)?
Purchase tangible assets that can retain value over time.
You buy gold and silver...and put your bullion in a vault or hide it. :)
First run all your cards to the moon and then walk on your mortgage and your CC balances. Nail them to their own cross.
Until the legal tender status of Fed Notes goes away (allowing the wholesale purchase of the world out of thin air), there's little to done that can be effective in undermining their power. The day you see someone refuse to accept Fed Notes for payment, is the day they are defeated. Until then, they've gotten a choke-hold over our means of sustenance (short of living life as peasants).
It use to be that the Stock Exchange was only for a select few. That were wealthy and connected enough to be able to participate. It was only an insiders game.
It has only been over the last 20 to 30 years that Retail was in essence invited to the party to be scalped by the pros, with their 401Ks.
Looks like they want Retail out of the market again. The best way is to take all of their money and let them go off into the shadows broken. Maybe then they will trust the People of Wall Street that get a lot of money to manage their money. So, their money will then disappear with fees.
What? The stock market has been extracting wealth from suckers since at least 1929 and probably well before that. Recently however, the herd which the wolves prey on has been declining significantly.
What is really going on!!!!
$123 billion this year and 98 billion last year are indication that out market just keep loosing its track!
And it seems that the best thing that an investor can do is to make a move on pulling their money and manage themselves!
When is this going to end? Don't know either!
Visit Crumblrr for exciting Xmas discounts!
My 2 cents. People in their 40's, 50's and 60's are (yes, still) getting laid off from their 50k-150k jobs and are pulling out their 401k and pension money (even with the penalties) while the market is in relatively decent shape. They can still get some good value so why wait for another crash? Most in their late 50's and early 60's well remember the crash of 2008 that reduced their 401k value by 50%. Many of them sense that another crash is likely soon. Why tempt fate? They take the penalty on the 401k, take as much of a lump sum payment from their pensions as is allowed and allot the remainder to something fairly conservative, if allowed.
I am one of those people. Filling out paperwork for two 401k distributions tonight. If the market falls before i MUST have it, how long do I have to wait for the market to recover? I do not want to work a couple extra years just because the market doesn't fit my schedule.
We're looking at a nearly 1000 point climb in the Dow over the past 5 trading days. That is market manipulation in its purest form. The only thing that has happened over those five days is that news has continually gotten worse. Algos are going crazy because there is no safe place for their money. So the sentient beings who are invested in the market and who move their money based on human judgment see this irrationality and the run for the door. It's not such a hard thing to understand. There are no safe havens in the market right now.
Got to make sure everybody is feeling good so they will go out and spend as much money as they can't afford on plastic baubles for Christmas.
CNBC: Can we still have a Santa Claus rally? lol
Tyler sounds like he had a bad day.
Welcome to DirtyFuckerVille, have a nice day.... Classic Tyler, very nice. "Shit shows" are us.
So did the nation.
Good thing it's merely an abstraction, and not something real.
In OTHER news Amazon wants you to go to the store, scan an item into an Amazon App which they will then sell to you at a discount + free shipping + no sales tax. WTF.
Well if the money goes out and the charts go up, who is pushing more money in?
I'm assuming this is rhetorical, but just in case, I'll spill the beans.
It's you. (by proxy)
I figured it was us, the tax payer.
The only solution to that would be a complete and total repudition of our current financial system in the markets.
When your last dollar becomes zero and imaginary binarys assigned to you for future debt...
Call it whatever floats the boat, it is future demand. If one heard the inverse that retail investors were long out the ass, the posts about heading to the exits would be extremely pervasive.
They’re desperate; they just bought another day. And that desperation is good news…because it adds another wave of observers who learn the truth about a manipulated market and a manipulated government.
And for those keeping score, a total of $123 billion has now been pulled from stocks in 2011, well over the $98 billion withdrawn in 2010.
Benny is keeping score ...he has a printer to fill the hole ...it's like Stalin or Mao taking over agricultural production (same result too)
Here's the article I referenced above about MFG impacting next year's production. (though it's not Greg Hunter, as I originally stated)
http://www.reuters.com/article/2011/12/06/us-mfglobal-agriculture-idUSTR...
I foresee food riots at the food banks (which are starting to get overwhelmed with requests for aid).
Evertime I see a photo of the Bernank and his little, beady rats' eyes and cute little beard I throw up a little. Smug little beatch!
One other factor to consider. If people are leaving the market they are going to park that money somewhere where they believe they will at least get it back. Whether it's pm's or raw land it seems to me this money is being converted out of the stock market for the longer term and never returning. Why? The collapse of MFGlobal tells me that if TPTB want to steal/commingle/take your money they will and alot of people just are not going to take the chance of that occuring. Especially if your family is living on the edge financially.
Thing is, this ain't hedge fund money, it's mutual fund money. These people are likely cashing out to meet current needs far more than they are looking to save wealth over time. I'd bet it ALL goes to current consumption, or debt service on past consumption.
Of course, let's not forget fedgov's 10% cut for all of the early 401 liquidations, allowing the Obummer's to pay for their vacations and whatnot.
End of the world as we know it bitchez!
psssssssst.
sp 500 corps are buying back equity at better than $100 billion per quarter or around 8 billion dollars a week. so even though the world is going to end, for the moment it isn't.
If only they can do this to their deposits at the banks and start buying physical then more will be saved from the shit show that our central planners call policy.
Something wicked this way comes...for about 3 years now...
Fraud Street is seething and demands that the Bernank bail out Europe in time for Bonusmas. Soooo many people losing jobs in the financial services racket. And the ripple effects are only just starting to get obvious. The economy is going waaaaaaay down, despite all the government's lies.
looks like these dumbasses did it to themselves. baby boomers are retiring so their withdrawals will begin to ramp. unemployed people are withdrawing money with no end in sight for the real number of unemployed and fewer people going into jobs with 401ks or the like which have fueled the market for 20 odd years. the game is over. better start a new one.