Weekend Economists Chart the Bradbury Chronicles, June 8-10,2012

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50. 21 Signs That This Could Be A Long, Hot, Turbulent Summer

http://www.businessinsider.com/21-signs-that-this-could-be-a-long-hot-crazy-summer-for-the-global-financial-system-2012-6



***SNIP

#1 There are rumors that major financial institutions are canceling employee vacations in anticipation of a major financial crisis this summer. The following are a couple of tweets quoted in a recent article by Kenneth Schortgen Jr....
Todd Harrison tweet: Hearing (not confirmed) @PIMCO asked employees to cancel vacations to have "all hands on deck" for a Lehman-type tail event. Confirm?
Todd M. Schoenberger tweet: @todd_harrison @pimco I heard the same thing, but I also heard the same for "some" at JPM. Heard it today at a hedge fund luncheon.
As Schortgen points out, these are not just your average Twitter users....
Todd Harrison is the CEO of the award winning internet media company Minyanville, while Todd Shoenberger is a managing principal at the Blackbay Group, and an adjunct professor of Finance at Cecil College.
#2 The Bank for International Settlements is warning that global lending is contracting at the fastest pace since the financial crisis of 2008.
#3 Unemployment in the eurozone has hit a brand new all-time record high.
#4 The government of Portugal has just announced that it will be bailing out three major banks.
#5 Many U.S. banking stocks are being hit extremely hard. For example, Morgan Stanley stock has declined by 40 percent over the past four months.


Read more: http://theeconomiccollapseblog.com/archives/21-signs-that-this-could-be-a-long-hot-crazy-summer-for-the-global-financial-system#ixzz1xIi4r1WD