I think Wall Street will crash this week .. probably tomorrow.

[DemoTex]

And I think it will be big. The JPM and Carlyle margin call news was in the Friday afternoon dump. Tomorrow the panic might hit. I ain't no fancy broker, but I think several thousand points might fall. Verb sap!

Last time I did this was 8/2001. I saw the attacks coming (FAA security warnings all summer, John Ashcroft's quitting flying the airlines in July 2001). I pulled out of the market and saved a fortune. I'm out now .. big time.

BTW: I do think all is going according to plan, re:Bu$hco. We are so totally fucked that we deserve it for letting it happen.

Short rant over.
Mac

[bobthedrummer]

1. I'm looking forward to The Ides of March too! eom

[Horse with no Name]

2. Is there anything in this country that ISN'T broken? n/t

[mac2]

15. Yes...the drive to ruin our democracy and economy.

[jimshoes]

3. Alright, you have my attention

What else does your crystal ball tell you? I'm not in the market but when the shit hits the fan I'd like to not be caught flat footed. Any suggestions?

[DemoTex]

9. If those fancy red shoes have good arch supports, you are OK.

I mean from being flat-footed.

[papau]

26. but what are you shorting in the morning - and at what price do you cover?

[Double T]

4. The question AFTER the crash and collapse of our economic and.......

financial system is WHAT? Do we let the same idiots that created this disaster 'fix it'? Or is time to take back our country from this cancerous vermin? The cure for such things as this in the past has been revolution; has the time come?

[Tandalayo_Scheisskopf]

7. Oh...

I expect that once this happens, the people will make their views very clear to our representatives in Washington. Very clear indeed.

One would hope they don't have the temerity and hubris to blow us off. That would have serious repercussions, indeed.

[Double T]

8. YOU give our inept legislators far too much credit.

The bastards live in a bubble.

[DemoTex]

11. Oh ...

You think they might listen to the people, rather than the power (corporations)? It will get real bad before that happens. But that's what I believe will happen.

[roguevalley]

18. given the amount and scale of people who will be wiped out, there

could be civil unrest. I pulled out of the stock marker last summer, taking a hit in taxes and penalties. I now have it in cd's and am slowly making interest. when it gets to a certain level, I am paying off my house. when bush talked the country into a recession back in 2000, I love 56K. won't happen again. I am sick in my gut for my brothers and sister.

[Tesha]

70. Maybe it's time to invest in the stocks of pitchfork manufacturers? (NT)

[Glorfindel]

20. Alas, not yet...

but soon, maybe. I hope to live to see it. I'd love to see the same sick, surprised look on B*shit's face as appeared on Nicolae Ceauşescu's face when the Romanian people finally had enough of him. "Allons enfants de la Patrie, Le jour de gloire est arrivé !"

[TahitiNut]

5. Asian markets are broadly down as much as 3% in early trading.

Nikkei 225 12,599.78 -183.02 -1.43%
Hang Seng 22,216.14 -285.19 -1.27%
Straits Times 2,811.23 -55.05 -1.92%

http://finance.yahoo.com/intlindices?e=asia

Headlines ...
Asian stocks fall to near 7-week low
Japan's Nikkei falls 1.4 pct on U.S. recession fear

[stevedeshazer]

6. I hope you're wrong, Mac.

But you may well be right, and that's very bad news.

I don't think most people really understand the magnitude of the imminent collapse of the US dollar.

[SoCalDem]

10. It HAS to crash.. Can't let boomers take money out that they have been putting in for decades

It's getting very near to the time we all start wanting off the merry-go-round, sell our homes, pay cash for a smaller "last home", and start withdrawing from IRAs & 401-ks..

Did we really think we would be "allowed" to do that? hah!!

[Yavin4]

12. Now You Know The Real Reason For Privitization of SS

As the boomers retire, Wall Street needs a huge infusion of cash to offset the boomers withdrawing their 401ks.

[DemoTex]

13. All of which is Funny-Money

AKA: Debt

[TahitiNut]

21. There isn't a savings account in any bank or credit union that's not invested in "debt."

I wouldn't put my money in a bank that just stored it in a mayonaisse jar.

[UncleSepp]

45. What, you don't have it in Fred's Bank?

Right over ... right over here, left pocket, white suit... ;-)

[DemBones DemBones]

51. Ah, how many will get the reference?

:hippie:

[mikeytherat]

63. I'd rather put my money in "Security First Trust and Federal Reserve."

But I'm just a wild and crazy guy.

mikey_the_rat

[krkaufman]

67. What a wild and crazy uncle. n/t

[defendandprotect]

44. There are large SS surplusses which they confiscate regularly . . .

Bush wars and tax cuts ---

[better tomorrow]

34. yeah, we got caught on the downsizing.....

were planning on selling and buying two small homes in different locations. Now, we have to stay put here when house decreased 100K in six months. Sent for hubby's pension figures to start collecting in August and they sure are taking their grand old time. I smell something brewing. But, his is an annuity pension in the oil company so hopefully we are safe with that. Still have my WWII coins.......thanks, Mom!

[earth mom]

55. You make a very good point there. It makes total sense!

:grr:

[Speck Tater]

14. IMHO: The BIG crash won't happen till August or Sept. NT

[Dr.Phool]

27. I have April 1st in the Morning Stock Market Watch.

The Day the Dow will be lower than when Bush was sworn in. 1400 points to go.

April 1. George W' Bush Commemoration Day.

AKA April Fools Day.

[kestrel91316]

16. I lost so much value in my piddly little investments, and then took a tax hit

when I had to raid an IRA, and eventually had to clean out the tail end of what was left of the investments because of how Bush has impacted my bottom line for SEVEN YEARS...............I have nothing left in the stock market to lose anymore, lol.

He has already ruined me AND MOST MY CLIENTS financially. The stock market can hit bottom for all I care. Can't get blood from a turnip.

[OmahaBlueDog]

31. So, when the Dow was at 14K, George was taking bows...

..y'know -- the tax cuts which were bringing us all prosperity (aside: my Republican friends all claim the CLinton surplus was an accounting trick)

..so now with the markets about to take a major dive, and the Dollar about to become toilet paper in most of Europe and Asia, will George take the blame as readily as he took the credit?

[jmowreader]

65. Of course not. You know George better than that.

The rise in the economy, the huge homeownership numbers...all Bush's doing.

When all of those things unravel...it's Clinton's fault.

He's been real successful blaming all his fuckups on Clinton, why bother to change?

[kestrel91316]

69. Nah. He'll blame it on Iran and use it as an excuse to attack THEM.

[pa28]

17. It's seems similar to a scenario I read in a book once.

There was a situation where the banks and the brokers were not lending each other money, everybody had margin calls hanging over their heads and had to sell stock to meet their calls. Soon it became clear as prices plummeted there were no buyers at any price because there was no cash in the system.

If it happened again maybe the market would tank 2k or 3k before trading was halted. Chilled here and hoping your hunch is wrong.

[Extend a Hand]

19. I think TPTB are desperately trying to engineer a slow descent

Friday the dow closed down 16% (11893) from the all time high Oct 9 2007 (14164)...and that's NOT taking into account the plummeting value of the dollar.

I can't see any series of events that will save our economy.

[tbyg52]

23. Yep, the PTB are trying to bail themselves out

in full view, with smoke and mirrors.

IT'S THE CORPORATIONS, STUPID!

I must admit to slight (in the big scheme of things) selfishness - I hope I can set me and mine up not too horribly before the bottom drops out. I do not like living in "interesting times"........

[Extend a Hand]

24. I don't think that's selfish

that's prudent. We're trying to do the same thing.

[sarcasmo]

58. Or this Country.

[leftofthedial]

22. don't crashes usually happen on Tuesday?

[TML]

38. October 1987

Black Monday was on, well, you know.

I've seen the market tank on every work day that ends in the letter "y", so there's no exact way to predict it.

[better tomorrow]

39. funny because I thought it was a day that ended in...

"day"

Cute response!

[selador]

25. if you are so certain and were so certain in 2001

then why did u pull OUT of the market in 2001.

bear markets and big drops are IMMENSELY profitable just like up moves. just position short

(puts, DXD QID, short futures, etc.)

if you are so confident, then take a position short. if you were so certain in 2001, then you should have been short, not OUT of the market.

fwiw, i continually take short and long positions and modify my exposure based on a host of factors, but i tend not to "predict".

i respect the tape, and look for high probability trades and investments - long or short.

it's more easier to short individual issues now certainly, since the elimination of the NYSE uptick rule, but even before that, you had numerous vehicles to profit off of moves downwards.

and right now, fear is still not particularly high anyway. VIX under 30 for instance.

that means premium aint cheap on da puts, but it isn't particularly expensive, especially for far out of the money puts, that would be a goldmine IF what you predict comes true

[greyghost]

28. Nothing they attempt at this point can save the economy. It is...

going to crash and burn in Hindenburg fashion. Will it be this week or next? Your guess is as good as mine, but it is coming and NOTHING will stop it.

[Zorro]

29. Maybe not tomorrow

Monday might actually be an up day, since the Asian markets aren't off that much so far. Need to lead some more sheep to the slaughter. I'd say the bottom could fall out Wednesday or so.

Got out of pretty much all stocks last November, because I've been thinking the shit's about to hit the fan. I had been thinking it would happen back in January (not that it was such a good month), but I do sense we're reaching the end of the line soon.

[roamer65]

30. This going to one of the roughest weeks on Wall Street ever.

If panic sets in, we're toast.

[OmahaBlueDog]

33. Strangely, it's harder for true panic to set in like it used to

1. They have the trade-time outs for certain loss benchmarks
2. While computerized trading can create sell stampedes, it tends to start buying after certain benchmarks are cleared
3. There are still a lot of small investors who, like crazed Las Vegas gamblers, will see any massive trading losses as a signal to double down and buy like crazy.

[better tomorrow]

32. yeah, the plan, boss, the plan...remember that

the best way to change a country is to devalue its currency.....we are on the path to the North American Union and the emergence of Region number 1....I think that is what we are going to be called, right?

Dubya said the other day that he still has things to do before he leaves and he is steamrolling ahead. Bad summer.....worse fall....

[HCE SuiGeneris]

35. The consensus here is disturbing. And yes, I would tend to hold the same perception.

Very rough waters ahead.

Good link to Asian markets in real time: http://finance.yahoo.com/intlindices?e=asia

[better tomorrow]

36. my take is....

that it will be tied to some astronomical calendar. You know, those Illuminists always use numbers in their plan. So, when is a Friday the 13th? When is the moon full? Etc. etc. etc. Oh, and don't forget...John McCain sure is using the signs....ballcaps with the number 13, saying he is "superstitious". Listen for them. I think he will hold a clue as to when it will happen....

[DemBones DemBones]

52. One unusual thing that's happening is how early

Easter is this year. Unless you're now 95, you have never experienced Easter being this early (and since the hypothetical you was then a baby, you don't remember it, anyway.)

More interestingly, it's going to be a couple of centuries before Easter is this early again.

The date for Easter is based on the first full moon following the vernal equinox, so it's astronomical.

And it would be just like certain faux Christians to engineer a Holy Week crash.

[CountAllVotes]

37. BofA is rethinking the Countrywide deal I heard

was just reading about it. Might not happen it seems.

Look out below!!

:kick:

[L. Coyote]

40. I'm sure you are right, so I just burned all my money.

What the heck, it was just going down in value, right?
Right? You are always right, right? :rofl:

[better tomorrow]

41. but remember....now all they have to do is....

turn off the ATM machines and shut down the Internet and no one can get any money......and no one will have any coins.....it's called "The Creature from Jekyll Island" Anyone remember that story?

[Manifestor_of_Light]

42. I have a question about all this.

Some people own stocks and ETFs that are traded on the NYSE, but they are foreign companies and/or based on foreign currencies.

Many Americans are urged to invest in foreign companies because of the dollar's fall. But if you have securities traded on U.S. exchanges, but based in foreign companies and/or currencies, does that protect you any? Or do you need to get your investments COMPLETELY out of the U.S. and into a foreign bank, let's say?

Thank you for your responses. Please PM me.

[defendandprotect]

43. Where is Bush getting $ for the rebates . . . ??? Let me guess . .. SS?

[Swamp Rat]

46. Asia stocks at 7-week low as global fears build

Reuters
Asia stocks at 7-week low as global fears build
Monday March 10, 3:02 am ET
By Rafael Nam

HONG KONG (Reuters) - Asian stocks hit their lowest in almost seven weeks on Monday, while the dollar was near a record low against the euro and an eight-year low against the yen after weak U.S. employment data fuelled recession fears.

(snip)

"We're at a pretty terrible place where the economic news continues to be bad," said Adnan Kucukalic, equity strategist at Credit Suisse. "Our belief is that this slowdown is going to be across the globe. If the U.S. slows, of course the entire world slows. Things look pretty grim in the next three months or so."

(snip)

Malaysian stocks (Kuala Lumpur:^KLSE - News) were among Asia's biggest decliners, falling more than 8 percent to a seven-month low after the ruling coalition suffered its worst election result in decades.

(snip)

The dollar continued this year's slump, falling around 0.6 percent from Friday to 102.16 yen, near an eight-year low of 101.40. The euro rose 0.2 percent to $1.5380, near a record high of $1.5465 hit in electronic trade on Friday.

(snip)

Oil prices were range-bound on Monday, with U.S. light crude for April delivery up 10 cents to $105.25 a barrel, within sight of the record $106.54 hit on Friday.

(snip)

http://biz.yahoo.com/rb/080310/markets_global.html?.v=2

[salin]

47. meanwhile, McInsane is campaigning on economic policies of...

keeping bushco's tax cuts (i.e., high deficits continued), and lowering "regulatory burden's on business.

Because 8 years of this economic disaster just isn't enough!

[krkaufman]

68. Yeah, I had to chuckle when I heard him saying that.

He wasn't lying when he said he didn't know much about economics.

[alterfurz]

73. McCain=McBush=McHoover

the only hope now is that somehow Obama=FDR

[AZgirl7]

48. Right on DemoTex

I thought the same thing after reading FT this morning. It doesn't take much to turn the crowd into a mob. I felt from the get-go that the Fed made B of A SAY they were going to buy Countrywide just to quell the panic. Then you didn't hear another word about it because the cancer then spread to THEM! I called my retired friend this morning, who's broker STILL has him in financials and mortgage 'backed' instruments and told him to GET OUT of all of it first thing this Mon.! The jerk has been taking him for a ride, telling him not to buy any gold and to hold tight. Jesus. Pretty hard for me, a HAIRDRESSER, to override that crap advice! But I've been watching this thing like a hawk and put all my money into gold in Aug-Oct.

Here's an example of what the "BIG BOYS" have been thinking. A clip from a McClatchy article today:

"The losses stood in stark contrast to the forecasts of most mainstream economists, who'd predicted an increase of about 25,000 jobs in February".

WTF????

Thanks to Mike Whitney's "wildly pessimistic" articles this past year, I've been ahead of this shell game.

[salin]

49. I, too, think the margin call news were a big harbinger

Not sure about a traditional "crash" - but pretty darn sure that we are at the beginning of a financial institutions avalanche. I think it will be slow moving - but have very long tentacles and far-reaching (scope and duration) consequences. The level of leveraged debt from fed/state/local govts, to corporations, to financial institutions - is untenable. The unraveling of this bubble, is going to topple a whole lot of other areas of "leveraged debt." Someone else said yesterday that we are in uncharted territory - and I have to agree.

[Windex]

50. when we screw up

we sell what we can, borrow, go into foreclosure, suffer the credit card calls or late payment charges..all that

When big corporations screw up they get bailed out and taxpaying citizens go into a recession.

[DemBones DemBones]

53. You said it. nt

[sarcasmo]

59. That's where the Industrial Prison Complex comes into play. No more Bankruptcy, it was passed for

a reason.

[DemBones DemBones]

54. I figured they'd manage to hold it off until they were

ready to jump in their planes and go to the big spread they bought in Paraguay, next door to "Rev." Moon's spread.

Think they'll resign before their term's out?

[El Pinko]

56. I'm sure it will drop, but probably not that dramatically.

I just don't find these events that shocking. I'm fully expecting a big lender, maybe Citi - to go under in the next couple of months, but the market will keep doing what it's been doing - a slow-motion crash punctuated by periodic rallies of desperate hope...

[sarcasmo]

57. When it crashes it will crash hard, good on you for getting out of that shell game.

[w8liftinglady]

60. I believe it-but how will a crash be defined?

What defines it?Drops in stock value?

[graywarrior]

61. Your blog is great!

[L. Coyote]

62. Do you think this quadrennial Doom and Gloom Campaign will successfully repress voting?

Is "the crash" why commodity demand is pushing prices up?

The world has never before seen this rate of development and the current scale of development globally.

Trust me, the fear is just in your mind, and Bush wants to keep it there.

[leveymg]

64. If you waited until 08/01 to get your money out of the market, you lost a fortune

NASDAQ crashed the previous summer, didn't recover. Dow lost half its value in 2000, rallied, but was down 25-30% from its previous highs on the eve of 9/11.

[0007]

66. Thanks Mac. 'Tis nice to see you in the joint again.

I was wondering what happen to ya.

[Feron]

71. I disagree.

If I had a dime for every Wall Street crash prediction, well you know the rest...

[Wednesdays]

72. It's not a sudden crash, but stocks are steadily bleeding to death

Australia's stock market is down 1.81% as of this moment...they've been open only an hour.

Edit: Japan's stock off 1.31% upon opening.