2011 Global Stock Market Collapse Watch

Futures Skid Amid Global Growth Worries

Futures extended their sharp losses Thursday after a gloomy forecast on global growth, continuing worries about the European debt crisis and following news that jobless claims rose more than expected last week.

U.S. stock futures slump on growth fears: Weekly jobless claims and CPI data don’t help allay worries

U.S. stock futures slumped on Thursday, as fears over global growth prospects and Europe’s ongoing sovereign-debt woes weighed on equity markets around the world.

Stock-index futures furthered their fall after economic data had new U.S. claims for jobless benefits rising more than expected last week, and consumer prices up 0.5% in July.

You know things are bad when you see an article in the MSM about this:

Treasury Yields to Plunge Before Hyperinflation Kicks In: SocGen

Societe Generale's famously bearish analyst, in contrast to most, did not see 10-year Treasury yields rising above 3 percent just because the Fed was going to stop buying bonds. Instead, he predicted they would fall below 2 percent.

So far, Edwards — who predicted the Asian financial crisis of 1997-98, the U.S. housing implosion and who sees China's economy suffering a hard landing — has been closer than most on his debt call. Last week, yields tested their record low of 2.04 percent.

Edwards says the economy is in an Ice Age — his term for a period of low inflation and near deflation and in which the economy has seen a broad deleveraging from the stock boom of the 1990s.

"That was the great moderation — the great moderation was a lie and a Ponzi scheme built on these massive debt mountains. And now those are finished you go back to normal, or worse than normal because you're so vulnerable," he said.

Bond Yields to Soar, Equities to Plunge

What will end the bond rally is hard to pinpoint. Most likely, he said, it will start in Japan.

"I think Japan will be the first to crack, really crack," he said. "Its demographics mean that big pension funds can no longer fund its huge deficit out of internal savings."

"You will get repeated rounds of money printing to try and stop it, but ultimately gravity has a habit of pulling markets down to where they should be.

You can delay it, you can play around, but ultimately the pigeons come home to roost."

The CPI and jobless claims came out a bit earlier, CPI up .5% jobless claims rise to 408,000. I believe a thread was recently made regarding the jobless claims rise.

ATS Thread - Jobless claims rise 9,000 to 408,000

Im sure everyone knows how Europe and the US are doing right now

Europe -

[atsimg]http://files.abovetopsecret.com/images/member/a169c169b48e.jpg[/atsimg]

US -

[atsimg]http://files.abovetopsecret.com/images/member/05409b7f99e3.jpg[/atsimg]

Watching CNBC and they're saying Europes banks are taking massive hits, some falling over -7% and more. I believe one even went -10%

ETA - Here's some bank numbers

www.marketwatch.com...

Bank of America down -7.51%
Citigroup down -8.10%
JP Morgan Chase down - 3.83%
Morgan Stanley down - 6.41%
Wells Fargo down - 4.02%
GoldmanSachs down - 3.52%


ETA 2 - US treasurys are nearly at an all-time historical low.


Also, another interesting thread relating to the craziness in Europe.

Meet the REAL Looters: "Merkel and Sarkozy Want £13 billion a year from UK taxpayers to save Euro

reply to post by buni11687

Bank of America down -7.51%
Citigroup down -8.10%
JP Morgan Chase down - 3.83%
Morgan Stanley down - 6.41%
Wells Fargo down - 4.02%
GoldmanSachs down - 3.52%

Yep. Those are the banks under scrutiny as they found the SEC shredding documents pertaining to an ongoing investigation. AIG, DeutscheBank, Maddoff, and a handful of others are involves as well. I can see the US markets plunging as much as 5 or 6% today, but they still have to endure the bad economic reports and another trading day after this one. Thos superbankers are having to do a TON of internal damage control on top of the other failing global corporations and entities. Can you say bank holiday?

DOW CRAHING??? -437.34 -3.83

www.marketwatch.com...

Hang on to your panties, Mabel . . . we're about to eclipse the -500 mark and we're not even an hour in to it!!!

Dow falls over 500
Nasdaq down more than 5%
S&P near going down past 5%

[atsimg]http://files.abovetopsecret.com/images/member/351ba145e6e3.jpg[/atsimg]

CNBC saying French banks going down between -6% to nearly -10%. Societe Generale is down nearly -9.40%. Possibility of another Lehman Brothers?
Spanish banks falling down near the -5% to -6%.


Europe is still falling even more. DAX down over -6% FTSE MIB down over -6%

[atsimg]http://files.abovetopsecret.com/images/member/61aa3fb64788.jpg[/atsimg]


VIX Volatility Index soaring 30%

This is John Thomas of the Titor Project
I can't prove that I am from the future.
Some say I'm just good at reading patterns.

I predict that Bank of America will collapse.
Then Citigroup.
Then AIG.

Key executives at these 3 banks above may be plotting mergers.

The rest of the banks will consolidate their earnings.
Goldman Sachs will lead. They've got the most U.S. politicians.

DAX IS 6% interesting day for sure

2nd

Don't want to mix maya with this, but.. Today is the start of 5th night 'the start of destruction'. Just saying.

www.free-spirit-insight.nl...

Gold broke the $1825 mark.
Oil slumped below $83/bbl
Headlines show selloffs to go into 'safer havens' like gold and treasuries. I guess those folks don't know that gold is manipulated heavily, and bonds are no more than a CDO derivative at this point. Interesting times indeed

And the ponzi puppets are starting up the 'life is good' cheerleading already

Leading Economic Indicators ar UP

So inflation is a positive indicator of the CPI these days?

The increase is due to rising prices in a number of areas, said the report, including financial services and clothing and footwear.

Prices for furniture, household equipment and maintenance, which usually fall between June and July due to the sales season, also fell by less this year (-1.1%) than a year ago (-1.9). The most notable upward effects came from most types of furniture and furnishings, and household textiles, said the ONS.

The only large downward pressure to the change in CPI inflation during the period came from food and non-alcoholic beverages, where prices rose by 0.3% overall, compared with a rise of 1% a year ago.

In the year to July, Retail Price Index annual inflation was 5%, unchanged from June.

diyweek.net...

Meanwhile our currency gets devalued more and more. Projections were that the CPI was supposed to be 2% and now the math projects it to be 6% by years end!!!

The talking heads at WSJ say that inflation doesn't mean anything because it will be corrected because no one is spending any money, but what about when QE3 happens?!?! Then you have the Fed making inflation rates go even higher!!!

Update on biggest bank losses in Europe

www.marketwatch.com...

Barclays PLC down - 11.32%
Barclays PLC ADS down - 12.09%
Societe Generale down - 10.13%
Dexia SA down - 12.64%

Some are saying today brought the "perfect storm" to the markets.

Perfect storm of activity hits markets

Most everything in the article has recently been brought up in this thread, then this caught my eye.

The Philadelphia Federal Reserve reported that manufacturing activity for the region has weakened markedly. The bank said its business condition index plunged to a negative 30.7 in August from 3.2 in July, reaching its lowest level since March 2009.

ETA - Just found this out. Russia has halted their Micex for "technical" reasons

In Russia, Market Halts You!.

Dow Jones reports that trading on Russia’s Micex has been halted for technical reasons

Russia’s RTS index, which has been the strongest in Europe this year, up 10.8%, was only down 2.25% at last check today. So maybe this is a real technical issue, rather than a “let’s take a breather to preserve our melting faces” halt.

This article gives a little more info on the Philly manufacturing recession

www.marketwatch.com...

The Philly Fed’s business outlook survey fell to negative 30.7 in August from 3.2 in July. This is the lowest reading since March 2009.

Readings below zero indicate contraction in the region’s factories

Negative 30.7 !!! Guess what they were hoping for?

The size of the decline in the index stunned analysts — economists had expected a reading of 0.5 in August, according to a survey conducted by MarketWatch — and added fuel to Thursday’s rout in the stock market.

A positive .5 and instead its down negative 30.7

This is it. Endgame.

EU is finished.

If those European banksters and corporations had any conscience left, now is the time to surrender, declare bankruptcy, let liquidators move in SO THAT at least a significant clueless but sincere bank depositors and investors can get some of their money back.

The banksters and corporations are rich anyway, as their money would have had long been deposited into safe havens. Now are OTHERS' money that is being played.

Cash rich safe haven nations are trusted due to their better national economic management of human capital and resources. This is now a time to share and redistribute wealth. Wasteful manufactering be allowed to let die, for it only use up vital resources. Use funds to circulate money through HUMANITY, not banks, in infrasture works, tech raised productivity, quick turnaround for tech research into the market place, fund vital science and tech researches, seek out diverse kind of economies for each nation to develope their niche and best.

It will be over soon for banksters and corporations, but we are still FAR from end of civilisation, for we humans still have needs and our planet still HAVE resources to provide, only that we better manage it this time to give good yields than corporation led cheat style of quantity but no quality.

HOWEVER...for all this to happen, it will take the banksters and corps to listen, but will they? I doubt so, but nevertheless, their endgame is near. It is only a matter of time, and may the courageous good men of humanity stand ready to finally lead mankind to progress and evolution this time.

reply to post by SeekerofTruth101


I agree with you that the EU is on it's last leg. I just read in another thread on ATS www.abovetopsecret.com... that the second Greek bailout may get cancelled. That would be the finishing touch right there to get the ball rolling. I'm sure they still have another plan up their sleeves to bail themselves out at the last minute though. It won't be pretty I am sure of that.

Europe is about to close, and it dosent look too good.

Looks like Sweden is gearing up for some economic turmoil

Regulator tells Sweden banks to prepare for crisis

FRANKFURT (MarketWatch) -- A Swedish regulatory official said the nation's banks must do more to prepare for a debt crisis that could freeze interbank lending markets and cut off funding, Bloomberg reported Thursday. "It won't take much for the interbank market to collapse," said Lars Frisell, chief economist at Sweden's financial regulator, the report said. "It's not that serious at the moment but it feels like it could very easily become that way and everything will freeze," he said.

This is what I have to say
about the entire financial system
summed up in one little picture for all.

Inflate the market, or crash the market.
No one is gonna get Donky Kong, everyone is still on the slide.


David Grouchy


[atsimg]http://files.abovetopsecret.com/images/member/d8d1ab3b85fd.gif[/atsimg]

Europe just closed down. Pretty terrible over there. DAX was really hurting earlier, falling to -7%, but made a little comeback

[atsimg]http://files.abovetopsecret.com/images/member/fc39c82e210d.jpg[/atsimg]

ETA - I think DAX just got revised to -5.85%. Better than -6%, but still pretty bad. (still getting the last minute #s in)

South/Central American stocks are taking hits to

www.marketwatch.com...

Brazil's Bovespa down -4.09%
Mexico IPC index down -2.09%
Chile's IPSA down -2.52%
Argentina's Merval down -3.90%

ETA 2 - I believe the European markets have finished all the last minute numbers and have updated the screenshot above.

Here's an article with a little more on other stocks in Europes close.

www.marketwatch.com...

Stoxx 600 index down -4.77%

I think this may have been the worse drop, or 2nd worse drop, for Europe in 2 years (CNBC is saying it is).


I just checked Europe's closes from the other week on this thread, and todays looks alot worse

[atsimg]http://files.abovetopsecret.com/images/member/ca94c3c665d4.gif[/atsimg]

So the hope is over as the Franco-German meeting didn't deliver what the markets and the bankers wanted, they wanted a bailout no a power grab