Today is a big day, markets pricing in Lehman-like event

This ain't looking good.

Today there are :
- the German vote on the European bailouts.
- US GDP numbers
- Italy selling $9 billion in bonds.
- Jobless claims
- Fed Balance

Asia Stocks, Commodities Drop on Europe Crisis

“The market is priced for some kind of Lehman-like event,” Brian Barish, the Denver-based president of Cambiar Investors LLC, which oversees about $8 billion, said in a Bloomberg Television interview. “It’s clear that this is coming to a head. If for some reason, Greece goes into an uncontrolled default and it spreads to Italy, which is a $3 trillion bond market, I don’t know how you’re going to put Humpty Dumpty back together again in terms of the world economy.”

German lawmakers will vote today on changes to the European Financial Stability Facility. The plan before the lower house in Berlin would allow the fund to buy bonds of distressed states and offer emergency loans to governments. and offer emergency loans to governments.

Italy will auction as much as 9 billion euros ($12.2 billion) of bonds today.

I'll repost this since it's very very very important :

“It’s clear that this is coming to a head. If for some reason, Greece goes into an uncontrolled default and it spreads to Italy, which is a $3 trillion bond market

3 trillion. 3 trillion. Can you imagine? Most exposed to Italian debt : France, Germany and the UK.

Copper, the deflation/inflation asset, sank 5.5%... which means we are heading for deflation.

Merkel government could fall over the EFSF vote.
Merkel coalition fears collapse after election humiliation

he Merkel government faces its next major test in just under two weeks when, as part of its plans to rescue Greece, parliaments meet to ratify boosting the lending capacity of the European Financial Stability Facility (EFSF) from €250bn to €440bn. With opposition increasing from within her own ranks, Ms Merkel cannot be certain of a majority.

The Chancellor has indicated that she may have no option but to rely on the votes of opposition Social Democrats and Greens to get the measure through parliament. Observers predict that, if she takes this course, she will be forced to hold a parliamentary vote of confidence in her government, which would almost certainly result in the end of her administration.

Today could be the beginning of the end of the 30+ years economic ponzi scheme they've been pulling.

reply to post by Vitchilo


You forgot,even if the Vote passes,Germany could be downgraded because of the increased financial Burden...

Originally posted by Shenon
reply to post by Vitchilo

 

You forgot,even if the Vote passes,Germany could be downgraded because of the increased financial Burden...

Totally. Not ``could`` but WILL.

All of the debts will end up on German shoulders. Screwing it forever.

If the new Europe bailout goes through, Germany gets to shoulder most of Europe's debts

So the German parliament better think real hard before making their vote.

Vote A : Screw the German people for generations and possibly end up with your head on a pike.
Vote B : Tell the globalists to take a hike.

reply to post by Vitchilo

Today could be the beginning of the end of the 30+ years economic ponzi scheme they've been pulling.

Not if someone came in like Milken* and underwrote enough junk bonds to offset the defaults...

reply to post by Vitchilo


When are they having their meeting today? Everytime they have a concall, it seems that the stocks and commadities level for a bit. But eventually one or the other will collapse.

I don't see the EU coming out on top with this...and the rest of the world will follow suit before to long.

But everytime things collapse, there is a profit to be made in some sector....which one will it be is the question.

I say, "So let it breathe, let it fly, let it go. Let it fall, let it crash, burn slow."

reply to post by TDawgRex


In Germany,they cover it live 08.50am - 12.00am (thats in 3 1/2 Hours) I´m sure CNBC or others will cover it too...it is kinda important

Originally posted by Shenon
reply to post by TDawgRex

 

In Germany,they cover it live 08.50am - 12.00am (thats in 3 1/2 Hours) I´m sure CNBC or others will cover it too...it is kinda important

Geez....thanks.

I'm on the night shift here. It's gonna be a interesting nite.

But my eyes will be burning by 6am EST from reading everything and looking at charts.

Oh well, sometimes, you have "them" days.

Looks like an exciting day with this news. I have my reasons for this thinking but anyway, that dude is correct in that Humpty Dumpty cannot be put back together again for the world economy should another Lehman like event be unleashed. I'm not so sure a major collapse is on the doorstep but it is forthcoming and could come in weeks or months, or it could hit unexpectingly in days for anyone knows. Then we might see the architects of the new world order emerge from the chaos to promptly restore financial and social order and implement their one world government and currency. IMO the current financial and political mess and growing global imbalances is actually providing a mandate for such a system to be introduced.

It's mindblowing really.

It doesn't take great intelligence to know they're damned if they do and damned if they don't ... and actually a little less damned if they don't because, at least then they've stopped feeding the speculative monster.

I mean, Iceland gets it. Why doesn't anybody else get it?

Oh yeah - lobbyists. Silly me.

We have been feed the importance of the money system our entire lives. Many of us have shaped our lives towards getting an education so that we may have a good paying job. The youth of today have very little to hope in terms of that future world any more, yet we hold on to hope as if things are going to turn around financially. The debts can't be re-paid so we allow the media to tell us that we will have to pay even more in taxes, take cut backs in funding, etc.

Their money system is not even real. It's supported by our imagination and cult like belief in it's power.

Let's stop pretending that it matters. It's not real. It was a very clever trick played upon the masses for many many years. Continuing to believe in it's power will only make you a slave to it's purpose.

Originally posted by starshift
We have been feed the importance of the money system our entire lives. Many of us have shaped our lives towards getting an education so that we may have a good paying job. The youth of today have very little to hope in terms of that future world any more, yet we hold on to hope as if things are going to turn around financially. The debts can't be re-paid so we allow the media to tell us that we will have to pay even more in taxes, take cut backs in funding, etc.

Their money system is not even real. It's supported by our imagination and cult like belief in it's power.

Let's stop pretending that it matters. It's not real. It was a very clever trick played upon the masses for many many years. Continuing to believe in it's power will only make you a slave to it's purpose.

The Matrix

Originally posted by xXHORUSXx
]

The Matrix

And it's about to reset

the markets are calm today - and eerily reminds of the calm before the storm not unlike the resounding calm before lehman's went down.

here in australia its interesting that the msm is always going on about how bad things are yet today there is hardly any mention of the economy. things are not looking good.

If Germany collapses, the EU follows so with that in mind this could be the "Death blow blessing in disguise" as eventually TPTB are going to be shouldering so much debt that they themselves will eventually have to be declared as insolvent as they cannot keep printing money like if it's water.

Germany's Top Income generators are as follows :

1. Daimler, AG
2. VW Groupo, AG
3. BMW Group, AG
4. Rammstien music act.

Audi is a member of The VW Group and so is Porsche. VW Group includes VW, Porsche, Audi, Lamborghini, Bentley, Bugatti
Daimler owns Maybach, Mercedes-Benz, smart, Freightliner, small stake in Tesla
BMW owns Mini and Rolls-Royce

Germany survives off it's entertainment and manufactuering industry and both have yet to bounce back as no one can afford $250,000 cars nowadays. Entertainment is in collapse due to the advent of mp3 trading so which tells me that Germany can't handle much more. Let's see what The DAX does as that is their exchange and if it tanks that's the best indicator for what could happen. Take out both within say, 6 months the system there will not be able to recover. Space them further apart and the system could recover and recuperate any losses while minimizing any fallout.

For now, let's avoid speculations as speculations is part in part to what got us in this mess we are in today.

I thought that the EU was taking up the model of building a money printing scheme like the USAs federal reserve

the Federalization of the EU in effect... and this central bank will be printing Trillions to keep the banks solvent and liquid for now.


but the capicaty utilization ~or whatever, and the fake unemployment data will be two key drivers in the analysis that both europe & the usa are grinding to an economic halt....

Well looks like some positive data on the new claims for unemployment benefits in the US and revised GDP for Q2 up to 1.3% from previous 1.0%.

The vote has passed.... 523 for and 85 against.

This boosts the package from 250 billion Euro to 440 billion Euro.

Yeah it seems everything is solved!

In the ``good news`` :

- Germany passed the EFSF... Merkel government didn't fall. (doesn't matter that it screws Germany or make the debt problem WORSE)
- Initial claims went down, a lot... (probably another manipulation, anyway, we'll see next week for the final and REAL number)
- GDP numbers : US GDP Annualised (Q2 T) Q/Q 1.3% vs. Exp. 1.2% (Prev. 1.0%) (doesn't matter that : US GDP Price Index (Q2 T) Q/Q 2.5% vs. Exp. 2.4% (Prev. 2.4%) ... so basically inflation is 1.2% higher than GDP, meaning a real -1.2% GDP, but even worse than that, the US GDP Price Index doesn't include the increase of prices of imports (oil, etc))

Bad news :
- Italian bonds sale real ugly. They didn't sell everything they wanted and they what they could sell was at an higher interest.
Ugly Italian Bond Auction Which Fails To Meet Issuance Targets Follows Atrocious German 5 Year Bobl Auction

In edition:

The Euro countries say they might be ready with a solution on nov. 3rd and 4th when G20 is launched.
There is talk about turning the EFSF into a bank that can take loans through the European Central Bank on behalf of EFSF bond acquisitions from endangered countries.

I bet the ECB is just clapping in their little hands now.