INCREDIBLE, VIX IS SURGING!!!!!!!!!!!!!!!!!!! RSI ON SPX EXTREMELY LOW, START BUYING, IM A BEAR AND Im saying its almost the time to buy!
Yep, the sky is falling all right. Every margined fool in the universe is being stopped out. Only massive gov't intervention can stop this - but what has the gov't got left in their arsenal that's massive.. ? Maybe QE 2.2 + a lot of talk.
Major banks down 20%. Now all leaders need to do is stand on the sidelines 4 more days and the crisis is over.
Same as 1929 - collapse due to 0 velocity of money due to concentration of wealth. Tax corporations 50% on uninvested holdings and this economy will go into high gear overnight.
A little bit of a problem with your proposal...who has jurisdiction to tax these corporations 50%? They set up affiliates in tax friendly jurisdictions and move it around to avoid said taxation. I suppose the long standing rumors of a movement towards a one world currency would address that situation, but something tells me, these same corporations would be crafting the legislative nuances of such onerous taxation.
They seem to have us by the cajones. Could be the G20 heads will put together a coordinated effort - and invade tax friendly jurisdictions on the grounds that they're harboring terrorists.. or whatever. "Inter arma enim silent leges" - in time of war the law falls silent. If pressed the US will say 'screw domestic and int'l law'. The US has dropped A-bombs on major cities. US gov't will do whatever is necessary to avert catastrophe (for America).
Fed meeting tomorrow. QE3 launched tomorrow, or do they have the balls to wait until end of August, Jackson Hole?