NWO, after the European bungling the last few days you have to be kidding. Even when they agree they break the agreement a day later. I'b bet on the Euro failing before we see any kind of NWO. Jem, can't believe a level headed person such as yourslef would entertain such a ridiculous notion of a coup! he would be impeached immediately for a start and by as many GOP as Dems. Bush signed the transition executive order already. Even if he could he wouldn't run again, he is done with this gig like no other Prez before him and can't wait to leave office. This is banks/funds selling to raise cash to meet whatever demands they will have made on them when their currently frozen credit assets start to trade again, this is what is driving the selling and what no is talking about, and their downdraft is sucking in many a 401K holder who were trying to use equities to grow their retirement nest egg because they hadn't saved enough.
no this is the end of the credit bubble. the systemic failure comes later after we lose our AAA rating as a country.
I wouldn't be surprised if this 'systematic' touch of this downdraft was caused by letting Lehman fail, with auditors seizing the offshore prime brokerage operations and freezing them, shutting out panicked investors from accessing their multi-billion dollar accounts. LIBOR spikes, Hypo Real semi-failed on the LIBOR spike, Volkswagen spikes 30% while the DAX sells off, AUD implodes 20% over like 10 trading days. Each one of these individually would be 6 sigma events, but in a systematic events they're to be expected. There definitely is a 'domino' like feel to it.
mvic - i appreciate the level headed statement. but, this whole deal is much too orchestrated. Almost a year ago I was on TV as a lawyer about foreclosures and short sales in San Diego. Then one of my websites was promoted on Yahoo. And I have spoken at other venues. Consequently I have been contacted by quite a few conspiracy types. But, two of them have laid out the blueprint for exactly what is happening. I have found one former (pit) bond trader (not Pabst) to have been so accurate in his predictions - I have begun to give his predictions a great deal of weight. My conclusion is that this crisis has been orchestrated. I am not quite sure what the end game is but I am pretty sure it will be about 1 world currency. The rest of that was over the top... but, maybe not. Just remember as the bubble was accelerating they were loosening lending standards and Greenspan said it was not a bubble. That is not what lenders do unless they plan to blow themselves up or they were given a different agenda. Now the unspeakable is happening... the gov't is backstopping banks, offering to take ownership and buying up mortgages.