Posts Tagged ‘ crash ’

05.20.12 AEP: Rising US recession risk poses the real threat to Europe

by John Galt May 20, 2012 23:59 ET But, butt, butt, butttttt, butttttttt, I was told on the teevee that Mr. Obama had saved the day according to the Vice-President, Mrs. Biden. Oopsies, again! Tonight’s editorial/commentary from Ambrose Evans-Pritchard sums up the ultimate definition of “critical mass” if and when the American economy collapses in this article: Again; do what? I thought Obamanomics cured cancer, AIDS, divorce, unwanted pregnancy, herpes, and common toe nail fungus. Apparently, according to the...

by John Galt May 20, 2012 22:50 ET As America parties, the world burns. Unfortunately for some futures contract holders and those who think they can sell anything to the, ahem, “COMMUNIST” Chinese government, er, companies, this rude awakening has hit them in the face with a two by four: China buyers defer raw material cargos (click on the link to read the story in full- Subscription required) In this story from the UK’s Financial Times, the story by Javier...

by John Galt May 20, 2012 08:20 ET Finally, at least one of the banksters of the world has provided some degree of honesty about this mess over in Greece. The threat of the Grexit was enough to turn the debut of Facebook on the NASDAQ into FacePalm creating a concern that the entire world economy is teetering on disaster. From an article in the Athens News yesterday: If Greece leaves the euro zone it could detonate a global financial crisis even...

by John Galt May 16, 2012 16:55 ET What can I say? Ambrose Evans-Pritchard is on a roll this week with his columns in the U.K. Telegraph and this one protion from today’s piece sums up the disaster we are facing quite nicely: The crisis is replicating the pattern of fixed-exchange ruptures through history. Britain was forced off the Gold Standard in 1931 after pay-cut protests in the navy triggered capital flight. Greek banks have lost 30pc of their deposits since...

by John Galt May 15, 2012 18:45 ET Appetiser cost of Greek exit is €155bn for Germany, France: trillions for meat course My fellow internet wanderers, no, your eyes do not deceive you. The costs are almost incalculable because the world has never experienced anything like what we will witness occurring in Greece as their exit from the European Monetary Union seems almost certain now. In tonight’s article from the U.K. Telegraph, Ambrose Evans-Pritchard makes the following, terrifying statement: Needless...

By John Galt May 15, 2012 – 17:55 ET Hide the chuldren. Hide the dogs. Hide the cats. Put the cows into the barn. And buckle up as Doomer Tuesday returns with a news vengeance tonight. Tune into DOOMER TUESDAY at 8 p.m. ET tonight to find out more… Just click on the banner below to find the various audio players to listen or to participate in the chat room with like minded Americans.

by John Galt May 14, 2012 17:35 ET Moody’s unleashed a firestorm with this release today piling on top of the Greece fire: Moody’s downgrades Italian banks; outlooks remain negative Excerpt from the official statement at the link above: The ratings for Italian banks are now amongst the lowest within advanced European countries, reflecting these banks’ susceptibility to the adverse operating environments in Italy and Europe. Today’s rating actions reflect, to differing degrees for each affected bank, the following key...

by John Galt May 6, 2012 12:58 ET From the newspaper Protothema: It does not take much imagination to figure out some of the party symbols such as the Communists K.K.E. or the Neo-Nazi Golden Dawn (XP.AYTH) but here is the breakdown of the poll from the newspaper story which is creating a huge stir in the Greek online community: ND, PASOK and SYRIZA head to head! 06/05/2012 19:00 Unprecedented election thriller show the exit polls. ND, PASOK and SYRIZA move...

by John Galt May 6, 2012 12:25 ET There are many people willing to deny basic economic reality or the news that the manipulated government data points from around the world are sending, however gold and the gold ETF (GLD) continues to flash a warning clarion that can not be missed by any observer. Unfortunately for the naysayers, gold is still the final resting place for value and is indeed viewed as the alternative world currency by major economic powers such as China...

by John Galt April 19, 2012 23:00 ET Tonight’s entry from Ambrose Evans-Pritchard contains not one, but two veiled warnings about the potential for another round of deflationary deleveraging which will stall the U.S. economy if not put it into outright recession, albeit brief, and destroy the European Union should it occur. This one excerpt from George Soros’ commentary within the story should be alarming to U.S. government officials because it is a warning shot across the bow: George Soros has launched all-out...

By John Galt April 17, 2012 – 19:00 ET And just as the British, Roman, and Arab Empires declined and fell in history, the Empire of America is changing into an empire of decline. Tune in at 8 p.m. ET for the latest HARDCORE NEWS, financial reports, and a scathing look at a new FEMA report on how to encourage civilian participation which would make the Stasi oh so proud. Remember the Sermon and Muster call! Just click on the banner below to find...

by John Galt March 28, 2012 22:25 ET That cured nation saved from the disaster and end of the world via a Eurozone banking collapse is not back in the international news, but since I’ve been one of the bloggers covering the story for ages now, perhaps a reminder from tonight’s edition of the Athens News is in order: Banks continue to bleed deposits: ECB (click on the title to read the story in full) This excerpt from the story says it all: Firms...

by John Galt March 27, 2012 23:00 ET The saga of the Eurozone is far from over and the latest piece from Ambrose Evans-Pritchard in the U.K. Telegraph tonight says it all: Spain to slash spending as economy slumps back into recession (click on the title above to read the story in full) As the world thinks the Greek disaster is behind them, the lurking nightmares of Hungary, Ireland, Portugal, and Spain along with Cyprus and other Balkan states hangs over the heads...

by John Galt March 18, 2012 16:00 ET The music is fading, the crescendo of crisis overrated according to some, the people of Athens are now found digging through garbage cans fighting their former pets for meals, all while the European Union chieftains and banking elite enjoy Chateaubriand and caviar in celebration of another hollow victory. The bondholders who refused to comply with the Greek default order are going to be paid a pittance compared to the thievery of the banksters and average citizens...

By John Galt March 6, 2012 – 18:15 ET Live. No “War of the Worlds” intro. Just doom, straight up, on the rocks. Tune into DOOMER TUESDAY at 8 p.m. ET tonight to find out more… YOUR CALLS TONIGHT ABOUT WHAT YOU ARE WITNESSING AT THE LOCAL LEVEL OR LAST NIGHT’S PROGRAM ARE INVITED AT: 877-213-6404 Just click on the banner below to find the various audio players to listen or to participate in the chat room with like minded Americans.

by John Galt February 28, 2012 16:10 ET Is any commentary really necessary? Now that the two gratuitous size queen photos are out of the way, here is what the United States Department of the Treasury, Propaganda Division, wants you to see: And what they don’t want you to see: Carry on. And buy more Gold and Silver. I’m just sayin’.

by John Galt February 28, 2012 05:30 ET The nation of Greece is now officially in default according to Standard and Poor’s (click here to read the story in full). The Troika and German expansionist government has declared that they would support the second bailout to preserve the status quo of confusion, deception, and deliberate subjugation of the Greek people. Unfortunately for the Germans, NATO, the European Union, and United States, a wildcard has been thrown into the fire by non other than the...

by John Galt February 27, 2012 17:00 ET While the world burns and turns, the Dow flirts with the big 13K (why it is big, who knows other than CNBC), and the MENA region disintegrates into a flaming pyre, the one predictable action of the day has occurred after the Greek government decided to obey their Germanic masters and follow the U.S. government example of screwing bondholders as a practice to achieve even further disorder in the markets. The statement from S&P is pretty...

by John Galt February 26, 2012 21:55 ET Hard as this to believe, I’m no longer going to pound my head on an exposed nail in the wall and preach to the insane that the world is about to end. In fact, I have no intention of any longer telling the foolish that the world is about implode. I’ve warned. I’ve preached. I’ve provided the warning signs. The financial system is irrevocably broken and the idiots in charge continue to preach that all is...

by John Galt February 22, 2012 05:30 ET In what can only be called a determination of default by investors, the sell off of Greece’s short term debt tells a tale of woe. The 1 year bond yield moved from yesterday’s close of 652% to 752% overnight while the 2 year moved a whopping 20 bps from 192% to 212%. If this isn’t the true vote on the alleged ECB/IMF “bailout” I do not know what is. This is a nation falling into...

by John Galt February 21, 2012 05:05 ET The technocrats are all patting themselves on the back but the truth about today’s “bailout” announcement comes from the Hellenic Financial Authority and its statement today (via The Athens News): The Hellenic Republic today announced the key terms of a voluntary transaction in furtherance of the 26 October 2011 Euro Summit Statement, known as the Private Sector Involvement, and in the context of its economic reform programme that has been agreed with the European Union...

by John Galt February 17, 2012 05:20 ET Of course TPTB will tell us, just like they did with Indymac, Fannie, Freddie, and Bear Stearns that is “contained” and no big deal. Of course tell the Greeks digging through dumpsters this fact and I’m sure they will provide you with a sip from a Molotov cocktail. I give this less than a month before we see a 1000% yield. The intraday high today, thus far, was a nasty 639%. Just wow. (via...

by John Galt February 12, 2012 17:50 ET The sad sorry joke being perpetuated on the citizens of Greece who are clueless sheep and the mindless individual investors, what few are left, playing the Wall Street casino, is that tonight’s vote on the new Greek austerity program by the Greek parliament is irrelevant. The nation of Greece is completely insolvent, totally dependent on the whims of IMF and European Union technocrats along with banksters from New York to London, and the people have...

by John Galt February 12, 2012 16:45 ET Tonight’s editorial from Ambrose Evans-Pritchard in the U.K. Telegraph is perhaps the starkest commentary yet on the disaster in the European Union and inside of Greece: Germany’s Carthaginian terms for Greece (click on the title to read the commentary in full) One sentence describes the EU’s folly best of all in this must read article: Belief that EMU fall-out from Greek exit – or “Grexit” in market slang – can be contained by firewalls and...

by John Galt February 12, 2012 10:50 ET From Zougla.gr: Today’s debate and vote later on might be a forgone conclusion, but the reaction of the masses in the street is what will be most fascinating to watch.

by John Galt January 19, 2012 05:30 ET Based on the 1, 2, and 10 year bond yields in Greece, the markets are voting on a Greek default. So ignore the MSM and Financial media nonsense that is spewed today and prepare for a shock wave to hit the banksters around the world in the next 60 days. Next up after Greece are Ireland and Portugal.

by John Galt January 8, 2012 20:45 ET The incessant screaming that the markets are fine, the economy is recovering, and don’t worry about Europe as we’ll bail them out and life will move forward into a new era of unicorns flying across the skies, painting them purple as they poop rainbows and Skittles. Of course what the bubblemedia, economists, and some biased news broadcasters, er, scratch that, all biased newscasters, will not tell the average viewer is that literally hundreds of billions of...

by John Galt January 8, 2012 19:00 ET There really isn’t much to add to this other than if anyone thinks this “decoupling” and crash will not impact the U.S. markets at some point, then those individuals are smoking the same hippie lettuce that old Monti is. (Chart is from Yahoo Finance. Click to enlarge)

by John Galt January 8, 2012 18:30 ET The headline in tonight’s edition of the UK Telegraph caused me to do a double take, and the article in full (at the link below) was even more insane: Italian Prime Minister Mario Monti: ‘The euro is not in crisis’ Uh, since when did Italy go Dutch? This is the most absurd headline of the day but the story only makes it better when one starts reading the details inside of it: “The euro is not...

by John Galt January 6, 2012 05:30 ET Despite the popular belief that the Euro will survive there is ample evidence that the ultra-wealthy and many banks believe otherwise. The examples below are just of the German 1 year yield and the Euroswiss 3 month which both have displayed negative yields at various points in their recent trading history but more so recently as all faith in the ECB has evaporated. Bankers and wealthy investors do not pay central banks to hold their cash...

by John Galt January 5, 2012 05:30 ET The implosion of the Euro is well under way and this will trigger a massive sell-off in the U.S. equity markets if the central banksters don’t break out their inner piggy and bail it out immediately. The technical condition is now shattered in the EUR/JPY swap with new decade plus lows being made daily and this morning being no exception: (from ForexPros.com – live 5 minute chart updates automatically) 96 is now in play in that...

By John Galt December 30, 2011 07:50 ET Buckle up. 2012 is almost here. Last year I was so-so in my predictions and for 2012 I probably will be also. If you are meek put on your Depends for this show or just assume the fetal position when the theme music stops. In the first half hour I’ll cover the news of the day, the financial news and then begin the prognostications which cover geopolitics, sports, U.S. politics, the economy, weather, and whatever else...

By John Galt December 30, 2011 – 07:43 ET While many a commentator and bubblevisionista will argue that 2011 was a “safe” year with the Dow up about 6% for the year and the S&P 500 treading water but up slightly, the decline in the NASDAQ is the lesson of the year and a warning sign for stocks in early 2012. Traditionally during an election year markets rally as the election gets closer and I expect 2012 to be no exception. While timing is...

By John Galt December 28, 2011 – 12:45 ET The mid-day action in gold is a nasty reminder that when deflation warnings are ignored, the ignorant shall be punished: With gold down almost 2% at 12:30 ET in thin trading most bubbleheads are on the financial networks pointing out the fact that gold is a horrible investment because it just sits there or that there is no reason to buy gold. In reality, once gold breaks the danger zone support levels in the chart...

By John Galt December 28, 2011 – 08:15 ET When these pages say “preparing for the fall” I am not referring to a change in seasons. The one chart, a bear among the most bearish, says it all: The breakdown of of Goldman Sachs is a leading, not lagging indicator of future activity. This collapse after the death cross as pictured above is usually a warning for a stock and in this case the financials that further stresses are about to impact the markets....

By John Galt December 27, 2011 – 07:30 ET Now that the holidays are over with, the returns complete, it is time to prepare for a harsh reality once again. First, the continued crisis in Italy continues with the 10 year yield crossing 7% again this morning, despite massive intervention by the ECB and member banks. (chart via Bloomberg.com) Secondly, the EUR/JPY swap is signaling another leg down in the Euro currency is imminent, probably at the end of this week or the next...

By John Galt December 21, 2011 – 14:55 ET Over the past few years I have been writing and commenting on the other housing crisis in Europe, that being of the nations who issued mortgages in Euros to Eastern European nations. Hungary was one of the largest nations in which the citizens borrowed heavily from Austrian banks in Euros but their local currency, the Forint, was used to pay those banks back. That worked fine until the Euro skyrocketed in value and the Hungarian...

By John Galt December 21, 2011 – 09:50 ET Because it is poor form to report bad economic news before Christmas and blasphemy to acknowledge data which gives the impression that our Imperious Leader (sorry, Dear Leader was taken) is impotent and incompetent regarding economic matters, the housing data reported yesterday was trumpeted as an indication of a possible bottom or start of the bottoming process in the housing market. In fact some blogs like Business Insider performed their usual duty of posting blog...

By John Galt December 20, 2011 – 05:20 ET Yesterday’s market action on thin volume was in a word, brutal. All of the indicators that Santa Claus was going to save the day failed. Gold rallied above $1600, then fell. Oil barely moved. Financial stocks scream of a disaster building cause in the markets. And despite the horrid yields, people are piling cash into the U.S. bond market, even accepting real and net negative yields to insure the return of capital. The S&P 500′s...

By John Galt December 19, 2011 – 16:45 ET Tonight’s commentary from Ambrose Evans-Pritchard via the U.K. Telegraph: Spain grits teeth yet again as austerity deepens <click on the title to read the full article> This excerpt really sums up the depth of the crisis about to hit the Spanish people, remainder of the PIIGS, and the European Union as a whole: It may prove harder this time within the euro straight-jacket. “The global economy was much stronger then and they benefitted from devaluation,”...