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Momentary Freefall: Europe's Getting Crushed (again) [NOT News]
090511

Posted on 09/05/2011 7:08:42 AM PDT by the invisib1e hand

DAX -3%

FTSE - 5%

It's a freefall at the moment.


TOPICS: Business/Economy
KEYWORDS: crushed; dax; downwardspiral; ftse; septemberblues
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1 posted on 09/05/2011 7:08:45 AM PDT by the invisib1e hand
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To: the invisib1e hand

Which means that it’s gonna be bloody Tuesday here..and a nice backdrop to Obama’s speech...


2 posted on 09/05/2011 7:11:59 AM PDT by ken5050
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To: the invisib1e hand

Good thing our market is closed today. Perhaps, cooler heads will prevail tomorrow.


3 posted on 09/05/2011 7:12:13 AM PDT by 3Fingas ( Sons and Daughters of Freedom, Committee of Correspondence)
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To: the invisib1e hand

A “downward spiral” in pictures.


4 posted on 09/05/2011 7:12:49 AM PDT by the invisib1e hand (non-union thug.)
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To: the invisib1e hand

Well, at least I have a job for now... We must survive the Obama Recession


5 posted on 09/05/2011 7:14:33 AM PDT by Porterville (Methink'st thou art a general offence and every man should beat thee.)
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To: the invisib1e hand

Very interesting. Thanks for posting.


6 posted on 09/05/2011 7:15:00 AM PDT by PGalt
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To: the invisib1e hand

Here We Go: US Futures Plunge As Milan, Dax Down 5%, Italian Fins Halted, EURUSD Sub 1.41

It is unclear what just spooked the market, but whatever it is, stocks have had enough fun for the day. After the ECB just announced that it had monetized a whopping E13.3 billion in the past week, nearly double expectations, and a total of E134 billion since the SMP program's inception, the market took one quick look at just how effective this program has been, shuddered, and plunged realizing that neither ECB intervention, nor the shorting halt is doing anything at all. As a result, ES is now down 21, EURUSD just dropped below 1.41 (Chinabot is about to give up), and rolling halt of Italian banks have started, with Intessa, Mediaset and Impreglio all halted. We expect UniCredit to follow suit as usual.


7 posted on 09/05/2011 7:16:49 AM PDT by Zakeet (If it ain't broke, the Wee Wee will fix it until it is)
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To: the invisib1e hand

Gold just hit $1900.


8 posted on 09/05/2011 7:19:36 AM PDT by Bean Counter (Obama got mostly Ds and Fs all through college and law school. Keep saying it.....)
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To: the invisib1e hand

DAX now down 5.5%.


9 posted on 09/05/2011 7:20:16 AM PDT by Farmer Dean (stop worrying about what they want to do to you,start thinking about what you want to do to them)
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To: Zakeet
The game's over in Europe...it can't be fixed..and there is no sense throwing good $$ after bad down the same rathole..it can't even be papered over any more....the "kick the can down the road and hope and pray" approach..

The Germans won't waste any more $$ to let Greeks retire at age 50, and if Merkel keeps trying...she'll be tossed out ....her party justhad a big loss in a regional election..a hint of what's to come..

10 posted on 09/05/2011 7:21:26 AM PDT by ken5050
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To: Zakeet
It is unclear what just spooked the market...

Kidding, right?

THE International Monetary Fund has called on the US and Europe to abandon fiscal austerity and switch to stimulus measures, warning that the global economy faces a ''threatening downward spiral''. [emph added]

Read more: http://www.smh.com.au/business/imf-urges-stimulus-over-austerity-20110905-1ju39.html#ixzz1X5UqWhI2

And this when the US isn't around to pick up the slack.
11 posted on 09/05/2011 7:21:38 AM PDT by the invisib1e hand (non-union thug.)
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To: ken5050

germany will bail them out.


12 posted on 09/05/2011 7:22:14 AM PDT by the invisib1e hand (non-union thug.)
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To: the invisib1e hand

Nope..and neither can Bernake....


13 posted on 09/05/2011 7:23:28 AM PDT by ken5050
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To: ken5050

you’ll see.


14 posted on 09/05/2011 7:27:49 AM PDT by the invisib1e hand (non-union thug.)
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To: the invisib1e hand

I’ll bet you ONE pfennig.....


15 posted on 09/05/2011 7:29:02 AM PDT by ken5050
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To: the invisib1e hand

Germany will end up owning Greece.


16 posted on 09/05/2011 7:30:39 AM PDT by Farmer Dean (stop worrying about what they want to do to you,start thinking about what you want to do to them)
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To: the invisib1e hand

I can just picture the scene 3 days from now - the world financial markets will be in collapse, and boy-Obama will give his long-awaited speech, which will be full of empty lefty cliches and nonsense....


17 posted on 09/05/2011 7:32:22 AM PDT by PGR88 (I'm so open-minded my brains fell out)
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To: 3Fingas

-——cooler heads will prevail -——

My thought is that the first string will return to the game after the August vacations and soothe the frenzy.

Then I thought...... that’s exactly what happened in Europe and they declared the disaster worse than the second team would acknowledge. The first string is on the field and all hell broke loose.


18 posted on 09/05/2011 7:32:28 AM PDT by bert (K.E. N.P. +12 ....Rats carry plague)
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To: the invisib1e hand

Not only does the U.S. have to put up with our own citizens robbing the treasury, every other country and the IMF wants to help rob our treasury. Looks like it’s too late to be worried about tomorrow.


19 posted on 09/05/2011 7:32:32 AM PDT by no-to-illegals (Please God, Protect and Bless Our Men and Women in Uniform with Victory. Amen.)
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To: ken5050
I’ll bet you ONE pfennig....

what'll that be worth when it's time to settle up?

20 posted on 09/05/2011 7:33:17 AM PDT by the invisib1e hand (non-union thug.)
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To: Farmer Dean
Germany will end up owning Greece

that's too bad for the Germans! That place isn't worth having even as a colony.

21 posted on 09/05/2011 7:33:41 AM PDT by PGR88 (I'm so open-minded my brains fell out)
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To: All

apologies: it’s ftse -3% and dax -5%.


22 posted on 09/05/2011 7:34:20 AM PDT by the invisib1e hand (non-union thug.)
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To: PGR88

Ohh I dunno,some of the women are pretty hot....


23 posted on 09/05/2011 7:36:36 AM PDT by Farmer Dean (stop worrying about what they want to do to you,start thinking about what you want to do to them)
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To: bert

Won’t affect me immediately regardless. I am divested from the stock market. All my money is in US bonds and physical gold and silver (which I bought at $600/once and $13/once respectively).


24 posted on 09/05/2011 7:37:12 AM PDT by 3Fingas ( Sons and Daughters of Freedom, Committee of Correspondence)
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To: PGR88
-----Obama will give his long-awaited speech-----

I have come to think of it as his VIAGRA Speech

It is the speech to overcome Presidential impotence

25 posted on 09/05/2011 7:37:18 AM PDT by bert (K.E. N.P. +12 ....Rats carry plague)
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To: the invisib1e hand

Blood will fill Wall Street above the street signs tomorrow.

LLS


26 posted on 09/05/2011 8:04:34 AM PDT by LibLieSlayer (Certified Al Palin Hobbit Terrorist)
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To: Bean Counter
$2500.00 by Christmas. I watched Pawn Stars yesterday... Rick bought a mint 1932 Lincoln from a fellow for $95,000. The man accepted his offer... in solid GOLD coins... carried his gold off in a sack with an armed guard supplied by Rick. He said... No one will want this car in a year... everyone wants gold. Smart man. He better have plenty of brass and lead too.

LLS

27 posted on 09/05/2011 8:08:12 AM PDT by LibLieSlayer (Certified Al Palin Hobbit Terrorist)
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To: Farmer Dean
One can only eat so much Baklava.

LLS

28 posted on 09/05/2011 8:09:46 AM PDT by LibLieSlayer (Certified Al Palin Hobbit Terrorist)
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To: the invisib1e hand

German parliment votes tomorrow on the bailout. I guess a bad vote turns the whole thing into meltdown phase.


29 posted on 09/05/2011 8:28:50 AM PDT by wiggen (The teacher card. When the racism card just won't work.)
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To: LibLieSlayer
"Blood will fill Wall Street above the street signs tomorrow. "

Buy When There's Blood In The Streets

" Baron Rothschild, an 18th century British nobleman and member of the Rothschild banking family, is credited with saying that "The time to buy is when there's blood in the streets."

30 posted on 09/05/2011 8:36:01 AM PDT by blam
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To: the invisib1e hand; LibLieSlayer; Bean Counter; Farmer Dean; ken5050; bert
TOTAL BLOODBATH IN EUROPE: Here's What You Need To Know

Joe Weisenthal
Sep. 5, 2011, 10:38 AM

Fears that the Eurozone might go kaput led to a total bloodbath in Europe today (and it's not quite over).

We mentioned the selling earlier, when the major indices were down some 3%, but now it's worse.

Here's a quick look at the equity markets.

Italy -5.3%.

Germany -5.5%.

France -4.9%.

Athens -3.1%. That index is now down about 50% since March.

Greek 2-year yields blew past 50% for the first time.

Meanwhile, banks are getting destroyed.

Deutsche Bank if off over 8%.

Credit Suisse is down 8.8%.

Italy's UniCredit is off 7.4%.

And the major US equity indices, fresh off their ~2.5% losses on Friday are down another 2.5% or so today.

Drink up!

31 posted on 09/05/2011 8:43:25 AM PDT by blam
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To: blam

I suspect the Greek pols are gonna do something stupid..really stupid....


32 posted on 09/05/2011 8:53:35 AM PDT by ken5050
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To: PGR88

How ironic. If only Hitler had waited, the Third Reich could have eventually bought Europe at a discount. ;-)


33 posted on 09/05/2011 8:58:40 AM PDT by Steel Wolf ("Few men desire liberty; most men wish only for a just master." - Gaius Sallustius Crispus)
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To: PGR88
As Sarah Palin wisely observed, we can't rescue the economy by making solar shingles and fast trains.
34 posted on 09/05/2011 9:29:07 AM PDT by hinckley buzzard
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To: the invisib1e hand

I would not call that “freefall.” It’s probably a reaction more to the Greece thing than anything else. Their banking system no doubt has a lot of exposure to sovereign debt.


35 posted on 09/05/2011 9:29:40 AM PDT by Brilliant
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To: Steel Wolf

Yes, the Germans have finally accomplished what they were trying for in the 30s.


36 posted on 09/05/2011 9:30:22 AM PDT by AceMineral (Some people are too stupid for their own good.)
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To: the invisib1e hand

Too bad they don’t have Labor Day in Europe.


37 posted on 09/05/2011 9:31:06 AM PDT by AceMineral (Some people are too stupid for their own good.)
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To: blam
Buy the stuff that will survive the coming times... good advice.

LLS

38 posted on 09/05/2011 9:31:10 AM PDT by LibLieSlayer (Certified Al Palin Hobbit Terrorist)
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To: blam
Many of us on FR... including yourself... are not surprised by any of this. The only question was when... and it looks like the time is now.

LLS

39 posted on 09/05/2011 9:33:51 AM PDT by LibLieSlayer (Certified Al Palin Hobbit Terrorist)
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To: blam

Watching......


40 posted on 09/05/2011 9:41:11 AM PDT by misanthrope (What is it with Russian racehorses?)
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To: the invisib1e hand

germany will bail them out.


Maybe the German govt will, but the German electorate is starting to balk. This is a problem.


41 posted on 09/05/2011 9:48:16 AM PDT by cornfedcowboy (Trust in God, but empty the clip.)
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To: LibLieSlayer
"Buy the stuff that will survive the coming times... good advice."


42 posted on 09/05/2011 9:49:29 AM PDT by blam
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To: the invisib1e hand

They closed a lot worse:

http://www.bloomberg.com/markets/stocks/futures/

Now, Dow futures down 200+, S&P 500 Futures down 36.

Maybe the US market will continue going down this week to officially inform 0b0z0 that ANOTHER SPEECH loaded with stimulus and revenue won’t cut it because it won’t do anything as already proven and the added attraction of not passing the House.


43 posted on 09/05/2011 10:10:16 AM PDT by melancholy (0b0z0's '12 campaign slogan: Read My Lips, Nooo...Newwww...Joooobs.)
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To: blam

g’luck with that, champ.


44 posted on 09/05/2011 10:28:43 AM PDT by the invisib1e hand (non-union thug.)
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To: the invisib1e hand

Okay, bub.


45 posted on 09/05/2011 10:30:08 AM PDT by blam
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To: cornfedcowboy
Maybe the German govt will, but the German electorate is starting to balk. This is a problem.

A mere formality.

Tell me -- think it through: what choice is there? Do you think the DAX is tanking because they're not going to bail them out?

46 posted on 09/05/2011 10:41:09 AM PDT by the invisib1e hand (non-union thug.)
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To: blam

let us know how it goes, pally.


47 posted on 09/05/2011 10:41:55 AM PDT by the invisib1e hand (non-union thug.)
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To: cornfedcowboy
The German taxpayers are sick of supporting a bunch of Mediterranean bums.The Germans have a saying,"Everything south of Rome is Africa." Merkel had better be careful or she's going to be shown the door.
48 posted on 09/05/2011 10:46:10 AM PDT by Farmer Dean (stop worrying about what they want to do to you,start thinking about what you want to do to them)
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To: AceMineral
Too bad they don’t have Labor Day in Europe.

At least they're not hypocrites in that regard.

49 posted on 09/05/2011 10:46:54 AM PDT by the invisib1e hand (non-union thug.)
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To: the invisib1e hand

You bet, chump.


50 posted on 09/05/2011 11:23:35 AM PDT by blam
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