Wednesday, November 23, 2011

No Sign of Healing...But U Are Haven't Seen Anything "BIG" Yet!!!

Three Doomsday Scenarios: What Happens If the Eurozone Breaks Up?
The time has come to confront an ugly truth: The possibility that the Eurozone will break up, or rather fall apart, is growing increasingly likely.

Perfect Storm For Europe to Declare Bankruptcy in Early 2012?
Panic is spreading says Steen Jakobsen, chief economist at Saxo Bank. Steen eyes the perfect storm including a potential "Chapter 11" call for European banks.

Expect A Global Recession No Matters What Happens In The Euro Zone
After MF Global went bust, most people believe it was an extreme "spectacular recklessness" under Jon Corzine, and that the U.S. banks should have only "moderate" European Exposure.  However, banking stocks have been under pressure with increasing investors worries.

Gerald Celente: Run, “Entire System is Collapsing”
Many have long predicted a time to run for cover would come, but the notion that the reason for selling your paper assets to move into plain ol’ cash, or better yet, physical gold and silver, would be triggered by a fear of becoming victim of fraud by the U.S. government is beyond newsworthy; it’s perverse.
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Even more calendars predict End in 2012
With all the hype about the ancient Mayan calendar suggesting the demise of human civilization taking place in 2012, an American author wants everyone to know that other calendars predict the same outcome, and he claims a demonic plot bringing about the end date could be hiding in plain sight inside the U.S. Capitol and your wallet right now.
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China media says US sitting on debt 'bomb'
SHANGHAI (AFP) - China's state media Tuesday blasted the United States over its "ticking debt bomb" and urged American lawmakers to be more responsible after they failed to agree on deficit-cutting measures.

Commodity Futures Market News
Further Downside
Most commodities and stocks have traded lower in recent sessions and we feel there is more to accordingly. From here we see support at the 18 day MA at $96.20 with resistance at the 9 day MA at $98.50 in January.

From Bad To Worse As Europe Opens
The overnight news of worries over Dexia's bailout deal and the weak Chinese PMI print did nothing to help the generally poor sentiment as the US closed on the stress test news. Equity and Treasury Futures (as cash was closed in Tokyo) were in risk off mode but stabilized with ES around 1170 (-1% from US close).

Futures Plunge As Fed Discloses New Stress Test:
Fears US Banks Will Need To Raise Tens Of Billions In New Capital. Those banks are Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo.

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