Thursday, 13 October 2011 05:05

ECONOMIC MELTDOWN CONTINUES WITH FURY

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"It was about an hour before the market close, which means it was time for the latest FT rumor. Only this time, unlike the 3 or so times before, the bazooka was not only a dud, it caused the inverse reaction of that intended, and led to a broad market selloff."
 
Remember now that every expert and official in the world has been yelling that European banks need to recapitalize... which means raise more money. They're going to raise money by selling off paper assets... like Greek bonds and who knows how many other fraudulent paper assets there are in the derivatives bubble. There will not be a stampede waiting for the doors to open. The bottom is about to fall out of the bond market. Hell, maybe they'll sell some packaged BofA mortgage backed securities. -- MCR
 
Big Trouble Brewing (Chris Martenson)
Always more than worth your time. -- MCR
 
We have more extensive coverage on the ubiquity of the economic meltdown on the World News Desk . 
Last modified on Thursday, 13 October 2011 05:18
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