Stocks: Market Crash Looming

[Sarge]

Anything goes in CA.

"Mexico opens California office to provide ID for illegals" on Catalina Island.

Next they will paint the island to look like a pinata. I guess free ferry service next.

 

[HOLLYWOOD]

California turns Island into Taxpayer Pinata for Illegal Aliens!

Anything goes in CA.

"Mexico opens California office to provide ID for illegals" on Catalina Island.

Next they will paint the island to look like a pinata. I guess free ferry service next.

 

[HOLLYWOOD]

I told yah so...
I told yah so...
I told yah so...

I've mentioned why are US government officials TREASURY/FED/DC... are in Hungry & Romainia looking over the books and their Austeria plans?

BINGO! They are about to BLOW UP... maybe this weekend

http://www.zerohedge.com/article/meet-latest-european-contagion-casualty-hungary

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ag9dseFh4tOY

Meet The Latest European Contagion Casualty: Hungary

• Eastern Europe
• Hungary
• Sovereign Default

If you are wondering where the latest bout of Euro weakness is coming from, look no further than long-forgotten Eastern Europe. From Bloomberg: "Hungary’s forint weakened against the euro, erasing earlier gains after Napi.hu reported deputy chairman of the ruling Fidesz party, Lajos Kosa, said that the country has a “slim chance to avoid the Greek situation” and that the new government’s primary objective is to avoid a sovereign default." It is rather amazing how long Eastern Europe has managed to squeek through the cracks. Will Hungary be the first rerouting of the PIIGS crisis into this latest European market. This means that another under the radar player, Austria, is about to get whacked big.
h/t David

[h1]Forint Falls on Report Fidesz Sees Possible ‘Greek Situation’ [/h1]
By Stephen Kirkland


June 3 (Bloomberg) -- Hungary’s forint weakened against the euro, erasing earlier gains after Napi.hu reported deputy chairman of the ruling Fidesz party, Lajos Kosa, said that the country has a “slim chance to avoid the Greek situation” and that the new government’s primary objective is to avoid a sovereign default.
The currency fell as much as 0.2 percent, before trading 0.1 percent lower at 275.81 per euro as of 2:39 p.m. in Budapest.

 

[Cowlesy]

I told yah so...
I told yah so...
I told yah so...

I've mentioned why are US government officials TREASURY/FED/DC... are in Hungry & Romainia looking over the books and their Austeria plans?

BINGO! They are about to BLOW UP... maybe this weekend

http://www.zerohedge.com/article/meet-latest-european-contagion-casualty-hungary

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ag9dseFh4tOY

Meet The Latest European Contagion Casualty: Hungary

• Eastern Europe
• Hungary
• Sovereign Default

If you are wondering where the latest bout of Euro weakness is coming from, look no further than long-forgotten Eastern Europe. From Bloomberg: "Hungary’s forint weakened against the euro, erasing earlier gains after Napi.hu reported deputy chairman of the ruling Fidesz party, Lajos Kosa, said that the country has a “slim chance to avoid the Greek situation” and that the new government’s primary objective is to avoid a sovereign default." It is rather amazing how long Eastern Europe has managed to squeek through the cracks. Will Hungary be the first rerouting of the PIIGS crisis into this latest European market. This means that another under the radar player, Austria, is about to get whacked big.
h/t David

[h1]Forint Falls on Report Fidesz Sees Possible ‘Greek Situation’ [/h1]
By Stephen Kirkland


June 3 (Bloomberg) -- Hungary’s forint weakened against the euro, erasing earlier gains after Napi.hu reported deputy chairman of the ruling Fidesz party, Lajos Kosa, said that the country has a “slim chance to avoid the Greek situation” and that the new government’s primary objective is to avoid a sovereign default.
The currency fell as much as 0.2 percent, before trading 0.1 percent lower at 275.81 per euro as of 2:39 p.m. in Budapest.

Thing is, is that they can let Hungary burn easier than Greece, because Hungary still operates on the HUF (Hungarian Forint). I'm not saying it won't cause problems because I have no clue how much Hungarian sovereign debt is outstanding, but at least it isn't connected to the EUR.

 

[MsDoodahs]

So....NFP comes out, there's 431K created and of that 411K are temp census jobs?

then I see BOzo on the tube telling me the jobs report proves we're in recovery?

msdnc spins it with the headline something like "431K jobs created, best in TEN YEARS!"

 

[Cowlesy]

So....NFP comes out, there's 431K created and of that 411K are temp census jobs?

then I see BOzo on the tube telling me the jobs report proves we're in recovery?

He's taking cues from Baghdad Bob.

 

[HOLLYWOOD]

Thing is, is that they can let Hungary burn easier than Greece, because Hungary still operates on the HUF (Hungarian Forint). I'm not saying it won't cause problems because I have no clue how much Hungarian sovereign debt is outstanding, but at least it isn't connected to the EUR.

All this money is internationally connected... CDOs and MBSs are a biggy in Eastern Europe. Talk about the an explosion and artificially inflated real estate. You know the systemic portion and how the banksters got their hands in everything.I think it was the US under secretary of the US Treasury was making his rounds on Hungry, Romania, Solvakia, and the Baltics. Socioete Generale is in Big Trouble.

Did you get to see minutes ago Stuart Varney interview of the unemployment numbers with Economic Fool Christina Romer?

Man, in high def... she was sweating like a Pig and it's only 10AM in the morning.

 

[Cowlesy]

All this money is internationally connected... CDOs and MBSs are a biggy in Eastern Europe. Talk about the an explosion and artificially inflated real estate. You know the systemic portion and how the banksters got their hands in everything.

Did you get to see minutes ago Stuart Varney interview of the unemployment numbers with Economic Fool Christina Romer?

Man, in high def... she was sweating like a Pig and it's only 10AM in the morning.

nope missed it -- we have CNBC on here, and i'm in my office anyway and we have the tubes on mute.

I heard Hilda Solis (Sec. of Labor I think?) trying to put lipstick on the pig --- not having it!

 

[Slutter McGee]

Seriously, California need Chris Christie, or at least somebody with huge brass balls to take on the unions.

Sincerely,

Slutter McGee

 

[HOLLYWOOD]

nope missed it -- we have CNBC on here, and i'm in my office anyway and we have the tubes on mute.

I heard Hilda Solis (Sec. of Labor I think?) trying to put lipstick on the pig --- not having it!

Yeah, NO ONE is buying the DC nonsense. March 2010 Employment numbers revised DOWN 230,000 to 208,000. another 28K gone.

Seriously, California need Chris Christie, or at least somebody with huge brass balls to take on the unions.

Sincerely,

Slutter McGee

Yeah, but the UNIONS are the massive power and control over Sacramento politicians.

Nevada in land mass is 90% conservative, but it's Vegas that controls the state 55-45. it's all SEIU/AFSCME Unions.

That 6 part video clip on New York City and their almost BK/Defaulting and how Ed Koch handled the Union thugs should be required viewing for all City/State managers/comptrollers.

Times have changed, the politicians today are more concerned about themselves and doing the PONZI IT FORWARD scheme to stay in office.

 

[Sarge]

Picked this up on another site. FL nuclear power plants prepare to shut down if oil in water gets near.

http://www.am850.com/index.php?id=3045

They are also saying Tampa gets 15 percent of their water from the treatment of sea water.

Getting ready to get ugly, if they have to shut off power.

Imagine Florida heat and humidity for months with no air conditioning. No cold to store food.

The economic loss will sink millions if that happens.

As LA doesn't like AZ, We might should ask LA if it is OK to send their electricity to Florida and help those folks out. I am sure they would be much more appreciative.

And back at the ranch, BO thinks a hurricane would be good idea to clean the oil out. I wonder if that idea was on his teleprompter? No, let me guess, it was all his own idea.

I can see that statement blown up on 20 feet signs before this is all over.

 

[eric_cartman]

market starting to tank pretty hard... it will be interesting to see what happens this next hour since the last hour has been somewhat volatile recently... will the sell off continue? or will we rally strong? or stay flat?

 

[Cowlesy]

market starting to tank pretty hard... it will be interesting to see what happens this next hour since the last hour has been somewhat volatile recently... will the sell off continue? or will we rally strong? or stay flat?

<Leans back, puts feet up on desk and smiles as his short-Euro position continues to grow and glow Green>

 

[HOLLYWOOD]

<Leans back, puts feet up on desk and smiles as his short-Euro position continues to grow and glow Green>

I've been shorting the EURO since Jan. $$$$$$$$$$$$$$$$$$$$$$

Weeeeeeeeeeeeeeeeeee Here Come the SELLS!

DOWN -325

 

[squarepusher]

futures are turning red!

 

[HOLLYWOOD]

Markets Collapse on BLACK FRIDAY OBAMA JOBS = FAILURE!

LOL! New Global Warming MELTS MARKETS... OBAMA JOBS = FAIL!

 

[Sarge]

I just picked up on a blurb that got yanked faster than I could get back to copy it.

Something about the Fed sending massive amounts of dollars to Europe. Might have to wait until after the market is closed to see if it gets posted. I am wondering if someone blew it by posting before our market close. Something about a dollar shortage there.

Anyone else picking up anything about this? If this is another bailout, it is likely going to get ugly. I think most have had it with the bailouts that are paying for them.

I am having a feeling that it is not going to be a good weekend.

 

[Cowlesy]

I just picked up on a blurb that got yanked faster than I could get back to copy it.

Something about the Fed sending massive amounts of dollars to Europe. Might have to wait until after the market is closed to see if it gets posted. I am wondering if someone blew it by posting before our market close. Something about a dollar shortage there.

Anyone else picking up anything about this? If this is another bailout, it is likely going to get ugly. I think most have had it with the bailouts that are paying for them.

I am having a feeling that it is not going to be a good weekend.

We've shipped $6.6 billion USDs to foreign central banks, of which $6.4 billion has gone to the European Central Bank for it to loan out to European Banks, through swap arrangements.

 

[Sarge]

C,

Thank you for the information. I thought I was loosing it trying to find the article again.

Some how I don't think this ends well. What don't they get about that they are all broke?

 

[devil21]

I don't know about you guys but Im seeing way too many blog posts, articles, and forum mentions about Monday likely being a really, really bad day for the markets. Batten down the hatches folks!