2011 Global Stock Market Collapse Watch

reply to post by surrealist


"slide on recession worries" seems to be a common phrase in the media at the moment which I actually find worrisome as it seems to be anchored to most economic news..

I guess I see that phrase and think to myself that if they are frantically trying to downplay the desperate position we find ourselves in then the day of reckoning is fast approaching.

reply to post by thoughtsfull


I read somewhere that about 25% of economists surveyed see a recession ahead. Therefore I can conclude with confidence that we´ve already been in recession for at least 2-3 months and that it´s going to deepen.

I took a look at futures and they are pretty damn bloody right now. Asia is just opening up, down but not massively. It's going to be an interesting 72 hrs. Europe and banks are once again the focus. CNBC is in special coverage. News of a large Belgian Bank CEO quitting over at zerohedge. If you enjoy watching this stuff tonight and tomorrow should be fun.

It´s 100% official now: The US economy has been in recession for 2-3 months at least already and it will deepen:

------------------------------------------------------------------------------------------

World Bank expects slow US growth but no recession

4 minutes ago

The U.S. economy will likely limp along with slow growth and high unemployment but avoid a recession, World Bank President Robert Zoellick said Tuesday. "I don't believe the U.S. and the world will go into a double-dip, but there is a high degree of uncertainty," he told reporters in Singapore. "Events in the eurozone can have ripple effects all around the world, not only in terms of financial markets but also confidence, whether it be consumers or businesses."

Associated Press

so we've been in a recession 2-3 mos already? seems longer but yea

the article says it will (somehow) avoid a recession

similarly, theres MSM talk about the looks like its stabilizing

how hopeful

reply to post by ignant


When Uncle Sam´s bean counters, The World Bank, IMF and other economists finally declare that the recession has started it´ll have been over for a few months.

WOW just saw gold hit $1902 an ounce on cnbc.

i remember someone predicted it to hit $2000 BEFORE something big happens.

edit: cant remember who it was tho.....

Originally posted by galdur
reply to post by thoughtsfull

 

I read somewhere that about 25% of economists surveyed see a recession ahead. Therefore I can conclude with confidence that we´ve already been in recession for at least 2-3 months and that it´s going to deepen.

The problem is the fudged figures that are coming out from all sides to obscure the obvious.

In some ways it is going to be an interesting winter that I hope won't be too harsh, but I fear it will be.

As a project manager (my scope is EMEA but sometimes extends to include the Western Hemisphere) my specialism has been fixing broken corporates and while the economy might scream otherwise no one it seems is trying to fix their leaky buckets.

Nor does anyone seem interested in reorganising their business models to be effective, cost savings seem to be viewed only in terms of work force reduction, while no attention is being paid to achieving efficiencies, being effective in the market or adding resilience to any area of weakness.

All of which leaves me wondering how on earth they will weather what is to come! and what the real fallout will be this time around..

Well I'm about to go to bed as it is 10.30pm here in Aust (AEST) and looking forward to seeing what the outcome of the US markets are in the morning. Futures appear to be significantly down at time of writing and it appears European stocks have slipped a bit again.

Billions wiped out as euro woes grow

Australian stocks lost more than $36 billion in value at the open this morning on growing worries about the European debt crisis and global growth, while shares in Cochlear dived after a product recall.

In mid-morning trade, the benchmark S&P/ASX200 was 126.8 points lower, or 3 per cent, at 4067.9, while the broader All Ordinaries index slumped 121.5 points lower, or 2.8 per cent, to 4155.9.

The Australian dollar fell to $US1.04, but rose to 76.94 euro cents, putting it within striking distance of its all-time high of 77.08 euro cents reached at the end of December 2010.


The start of sharemarket trade was even poorer than investors had expected, amid weak offshore leads stemming from investor fears that Greece would default on its massive mountain of debt.

The woes were exasperated by the unexpected resignation on Friday of the European Central Bank’s chief economist, Juergen Stark, stoking market fears that the euro zone's debt crisis will escalate.

Australian stocks down around 3% after only opened for just over 1.5 hours. May recover some this afternoon, but for the time being, there are some major fears and big losses!

reply to post by surrealist


Greek two-year yields ended last week up 852 bps to 53.05% (up a staggering 4,081 bps year to date).

The market is probably pricing in a 95% + probability of Greek default.

About 17 months ago the Greek debt rating was decreased to BB+ (junk).

Originally posted by scoobyrob
WOW just saw gold hit $1902 an ounce on cnbc.

i remember someone predicted it to hit $2000 BEFORE something big happens.

edit: cant remember who it was tho.....

edit on 6/9/11 by scoobyrob because: (no reason given)

It was the much maligned Major Ed Dames.

Any bets for the Markets on they will open on monday? surely they will open postive after 9/11 seeing how i bet they will be forced to, and that fact greece will have a huge protest soon i dont see any postives for the Markets on monday.

reply to post by Agent_USA_Supporter


The U.S. dollar is on a good run, which is detrimental to U.S. stocks and commodities. I expect a fairly weak open in the U.S. market, Monday maybe 50-100 or so down in the DOW.

Interesting:

"""The S&P 500 may sink to as low as 970 because Wall Street analysts’ earnings estimates are too optimistic, according to MKM Partners LLC’s Michael Darda. The 2012 forecast for S&P 500 company profits of about $108 a share may have to come down by as much as 30 percent, said Darda, chief market strategist at the Stamford, Connecticut- based research and trading firm. He cited the history of U.S. business cycles and the relationship between bond yields and earnings in making the prediction. “We believe the S&P 500 will fall to 970-1,030 before bottoming,” Darda wrote in today’s report titled “Profit Squeeze Coming.” He added, “If conditions are less favorable than average, the S&P 500 could surely fall more.” """

www.bloomberg.com...

reply to post by galdur


futures are down 200 so that opening drop should be larger

Is this amazing, or what.

Greek 1-Year Debt Yield Hits 108%.

[atsimg]http://files.abovetopsecret.com/images/member/65f3976cc36a.png[/atsimg]

Market internals are atrocious today with 40 new highs and 500 new lows.

Market and commodities are deadly scared of the dollar obviously. Also, the price of US govt. debt stays at a 200-year high.

If they can´t hold the S&P neckline at 1140, this could be heading much lower.

Somebody in Europe must of farted over night as US stocks ended up and investors saw the flatulence as a good reason to buy.

Another interesting piece of information for you all.

Bloomberg News 12/09/2011

reply to post by Pentothal


Interesting, the CEO of Société Générale is arguing they are solvent amid 'rumors' of the banks solvency.