The "up-to-the-minute Market Data" thread

"China and Germany express concern over US Fed move"

Germany's finance minister Wolfgang Schaeuble said on German television that "with all due respect, US policy is clueless."

www.bbc.co.uk...

James Howard Kunstler, always a kick in the crotch on Mondays, is in rare form this week. Just thought I'd share:

"...Thought exercise: Imagine the vector of a Chevy Trailblazer and a CSX coal train of four 3000-horsepower diesel engines hauling 88 loaded hopper cars four miles north of Chugwater, Wyoming. The Chevy driver left his meth lab, say, fourteen minutes earlier after piping up and doing three tequila shots. The lead engineer on the coal train, a sturdy fellow, five-feet-ten-inches and 270 pounds, having finished his supper of double deluxe nachos (with two meats and extra cheese) is entering a less than blissful realm of myocardial infarction. Meanwhile, a meteor the size of a basketball has passed into the troposphere on a trajectory to strike the planet Earth at precisely the point where the CSX line crosses state road no. 44. That there would be a snapshot of your US political economy....

... Don't worry folks, that sound of heavy breathing you hear is the exhalations of the big banks reviving on their IV drip lines of financial liquidity. Pretty soon, the nurses will bring them Kansas City strip steak dinners, with truffled mashed potatoes, asparagus flown in from Chile, and even a nice year-2000 Clos Du Val reserve cabernet. You - you can go down to the food pantry and get yourself some government cheese. Melt it over some ranch-style Doritos and hunker down with Fox News where a dry drunk will explain to you the morbid workings of the Trilateral Commission and how the Rockefellers are scheming to take over the National Football League for the greater glory of Karl Marx while selling your daughter to Albanian white slavers. You'll think you understand the world. You'll feel fulfilled and easy in your mind."

kunstler.com...

They don't call it "the dismal science" for nothing...

reply to post by silent thunder


Don't sell gold! Don't sell gold!


Is this Kunstler a friend of Kurt?
The time has come for speculative fiction to become true, and for realism to become highly untrue. Or... almost something like that

Gold: 1415...

Hey guys, wassup?
What do you think?

www.bloomberg.com...

U.S. Debt Proposal Would Cut Social Security, Taxes, Medicare

A presidential commission’s leaders proposed a $3.8 trillion deficit-cutting plan that would cut Social Security and Medicare, reduce income-tax rates and eliminate tax breaks including the mortgage-interest deduction.

The co-chairmen of the panel appointed by President Barack Obama suggested reducing Social Security spending by raising the retirement age to 68 in about 2050 and 69 in about 2075. The plan also would slow the rate at which benefits grow. The savings would come between 2012 and 2020.

“This country’s out of money and we better start thinking,” said co-chairman Erskine Bowles. Without “tough choices,” he said, “we’re on the most predictable path toward an economic crisis that I can imagine.”

Fascinating polemical documentary on UK Channel 4 this evening: Britain's Trillion Pound Horror Story. Don't know if you can watch this stateside.

With the national debt so big that "even if every home in the UK was sold it wouldn't raise enough cash to pay it off", the program makes the point that big state = weak economy and vice versa. The Government's attempt to stimulate the economy (with money taxed from the private sector) is likened to a doctor draining blood from a weak patient in order to transfuse some of it back.

Britain's economy has begun to resemble that of the former Soviet Union now that most of it is vested in state monopolies.

reply to post by EvilAxis

The Government's attempt to stimulate the economy (with money taxed from the private sector) is likened to a doctor draining blood from a weak patient in order to transfuse some of it back.

I'd say the above quote sums it up perfectly!

just me
or is the market behaving oddly today?

12 noon
gold down another 30 dollars
market down around 100

here's a video about the EQ2 scheme


www.youtube.com...


NOTE.... the $600 Billion that is being bandied about is only an estimate figure,
designed to quell the unrest that comes about by the very nature of this USD debasement scheme...

the G20-, particularly China, Germany are against this monetary debasement operation,
which in my view will far exceed the $600Billion proposal.
I'd guess the FED will buy Treasuries from the 12 Primary Dealer banks at a monthly rate
NOT-to-exceed $600 Billion...but to approach $2 Trillion during a 18 month QE-2 process.

Let's see, GS and BoA , JPM and the bank cartel will sell Treasuries to the FED after
a substantial mark-up & profit for the bank cartel... Well
that would either result in bigger bonuses for the elite banker/broker class execs OR
with taxable profits in their balance sheets, the Bamks will open the floodgates
of all that cash they have been hoarding and not lending all during the QE-1 phase

watch out for extreme inflation of prices... food, asset, energy, @ inflated prices
also gold & silver assets going up... but ALL wages and incomes being reduced by the
coming 10-19% inflation... with only the top 5% and all government employees getting
their COLAs... while the other 80% of the ravaged poor-middle & upper-middle-class
lose their survival power as food & other necessities drain their incomes.

Irish Republic to get bail-out loan, says central bank

Irish Central Bank governor Patrick Honohan has said he expects the Irish Republic to accept a "very substantial loan" as part of an EU-backed bail-out.

Mr Honohan told RTE radio he expected the loan to amount to "tens of billions" of euros.

The final decision will be up to the Irish government, which has said it has not agreed to a loan from Europe.

The comments come as a team of international officials meet in Dublin for further talks on the debt crisis...

Mr Honohan said that any loan would be substantial. "It'll be a large loan because the purpose of the amount to be advanced or to be made available to be borrowed is to show that Ireland has sufficient firepower to deal with any concerns of the market. That's the purpose of it," he told RTE.

Yep, it's a real confidence-booster.

But seriously, folks:

...An EU handout would be seen as a big loss of face for the Republic - essentially meaning that its survival and solvency were reliant on Brussels.

But BBC business editor Robert Peston said that in terms of Irish resistance to a bail-out, this was "game over".

"The Irish government could not conceivably go against the advice of its [eurozone] partners and its central bank," he said.

Were it to do so, commercial customers of Irish banks would accelerate withdrawals which would be devastating, he said...

Nothing about a run on the banks there. Move along.

Source

I think that some unknown, alien force is providing money for all those bailouts

reply to post by DangerDeath


Yeah, the printing machines at the federal reserve. It sure would be funny if the machine broke down, they wouldn't be able to afford to pay the repairman lol

i was reading this phycological overview of the various reasons why markets have
sometimes schizophrenic/manic periods....
for instance this outtake from the text:


www.zealllc.com...
Trading News Psychology
Adam Hamilton November 26, 2010 2233 Words

While often vexing, sharp news-driven moves can offer good opportunities for speculators. Although each news-driven event is different and unique, there are definitely tradable parallels underlying most of them. As I’ve watched breaking news unfold over the decades, moving the markets and stocks I owned at the time, a definite psychology of news has become apparent. Traders who understand it can capitalize on news-driven moves.


News moves markets simply because it affects sentiment, or how traders happen to feel. When they feel good they are more likely to buy stocks, and when they feel bad they are more likely to sell. News amplifies or dampens prevailing greed or fear, leading to more trades being made. And higher volume, especially when news has galvanized many traders into sharing a similar worldview, sometimes leads to big moves.


The collective emotions of all traders that drive most short-term market action are greed and fear. And they are not symmetrical in their impact. Greed builds gradually, as one at a time traders slowly get excited about rising markets. But fear flares instantly, as a herd traders all get scared simultaneously. Thus fear-driven plunges, big selling events, are virtually always much faster and sharper than greed-driven rallies.


Newsflow plays right into this natural greed-fear asymmetry[..]

this excerpt and the rest of the information makes one very obvious omission...
markets can and are manipulated and many of the big kahunas on Wall Street
do front running trading and the HFT (high-frequency-trading) to affect the markets...

and by (this article) deliberately omitting and down playing the illegal
front-running & HFT programs as contributing factors in 'market psychology'-->
seems to say even they are on the side of Goldman Sacs, JP Morgan and others
in the banking/debt creating cartel ...(imho, a grand racketeering and criminal enterprise)


read the rest of the 2,000+ words, and this whole article seems meant to reinforce the years
old paradigms when stocks tooks days and weeks to be sold & transferred...
back then, (30-100 years past), the elements pointed out by the author were the most
important factors the rich enough to trade public concerned themselves with...
since then times & programs have evolved.

also the courts are just entering into the HFT & front-running assertions against JPM & others,
so to this quintessential CT'ist, the article is intended to water down the contempt for the HFT
advantage and munipulation factor it creates



thanks

They insist on emotional economy, because without it there would be no slavery. Reactive behavior is something they count on and they constantly "fill us in" on this as a "market mover". "Emotional support" so they call it.

reply to post by DangerDeath


The people insist on being emotional and reactionary. It's how we've evolved over the ages. The elite and ruling class simply use this knowledge to their benefit. We have no one to blame but ourselves. People choose to remain bonded to their governments. People choose to remain ignorant. We collectively choose the state of the world. If the current rulers were dethroned, it would only be a matter of minutes before another one stepped in. The people mostly demand to be ruled. It is what it is.

Dow is -1.14% at 10.964... I hope the announcement will be before the closing bell...
I want to see a crash today even if the economy is "recovering" ! Big liars !

reply to post by Terviseks


im sorry im a little lost. what anouncement are we waiting for?

thanks

Everyone expects a crash lol. Yet the markets stage a comeback rally this afternoon.. Has anyone noticed that when everyone thinks the market is going to go down, it actually goes up in a big rally? And when it's supposed to go up, there's usually some bad news that comes out of nowhere to make them go down. Every single time I see people saying there should be a crash, the markets do better.

and buy-backs at the 22 large banks are used to pull the strings...i know a guy in Hawaii that can call the next days equity action....he claims chicago decides at 3 am...new york time.
i'm hugely short with my entry orders on the gbp/xxx pairs that lead the market
i have them stacked downward all the way to OBLIVION... meaning 3 thousand pips

Silver jumped up a dollar today.

Hovering around $28 now.