By John Galt August 9, 2011 – 21:22 ET The UK Telegraph‘s Ambrose Evan-Pritchard column really nails the problem with bailouts, as those who do it often end up being brought down with the ship also. The chipping away of the two big boys of the European Union appears to have begun. Click on the title to read the column in full: Bail-outs chip away at France and Germany too
By John Galt August 9, 2011 -10:45 ET The economic circumstances which the Federal Reserve, Wall Street, and Washington, D.C. have been living in was shaken by the events of the past ten days thanks to the realization that both Main Street USA and Europe are in far worse condition than their delusional public statements indicated. Thus the crisis de jour has come upon their doorsteps and the reaction from Washington was to pass a new debt ceiling bill which does nothing to reduce the…
By John Galt August 9, 2011 If Satan’s favorite stock suddenly spikes after 1 p.m. towards the 125 level then QE 3 is a go. However if it suddenly tanks below 117, the entire market will follow as that means there is no sound easing plan to be issued by the Fed in their statement at 2:15 and the market will crater in kind. Just watch this sucker today for a clue as to where the markets will be heading and how the money changers…
By John Galt August 9, 2011 – 05:05 ET This morning’s Ambrose Evans-Pritchard column from the U.K. Telegraph pretty much tells the tale of what the ECB must do and by default the Fed. Read it for a preview of what a massive intervention will look like or the consequences of inaction or to little action. (Click on the title to read the article in full) European Central Bank must go nuclear to save Europe
By John Galt August 9, 2011 – 04:45 The chart of the Saudi Market (live chart from BTFLive.net) says it all: The entire region appears to be falling not just following our markets but due to the total collapse in world oil prices. This could be a sign of a major break in world markets to come.
By John Galt August 9, 2011 04:30 ET Figures. Just when the Fed and its minions did all that hard work bailing out the futures and Asian Markets…. Check out this summary from CNBC.com:
By John Galt August 9, 2011 – 03:55 ET I couldn’t sleep as something was bugging me and sure enough it was a Bernanke mosquito that flew into my house and took a bite out of my wallet as I attempted to slumber. When I was last on these pages just a little over 3 hours ago, the S&P ES futures were down over 20 points, Dow futures down over 245, and world markets were gripping for a nightmare today. I am theorizing that the…
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