Rollin' Like Sisyphus

No Shenanigans

Posted in The Fail Pail by Huckleberry on August 24, 2015

Dow plunges 1,000+ immediately upon opening bell, despite this:

Wall Street authorities have invoked a rarely-used regulation called Rule 48, in an effort to speed up and smooth trading when trading begins in a few minutes. CNBC explains: The rule allows NYSE to open stocks without indications. “It was set up for situations like this,” said Art Hogan, chief market strategist at Wunderich Securities. It was last used in the financial crisis.

Bang-up job.
The Dow has “miraculously” rebounded since though, and is at the time of this writing down ~415 points. Because as El Borak notes, someone had $400M burning a hole in their pocket.
Meanwhile, The Independent UK has the best analysis I’ve seen yet this morning:

A former advisor to Gordon Brown has urged people to stock up on canned goods and bottled water as stock markets around the world slide.

Not the worst idea.


7 Responses

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  1. El Borak said, on August 24, 2015 at 08:07

    I hope that’s not the same guy who advised Mr. Brown to sell half of Britain’s gold at $250/oz.

    Besides, shouldn’t the Limeys be buying tinned goods?

    • Huckleberry said, on August 24, 2015 at 08:09

      Besides, shouldn’t the Limeys be buying tinned goods?


  2. Doom said, on August 24, 2015 at 12:30

    You say $400m? Look, that isn’t even chump change to spread out to keep the can going. They have no more choice than you have to take your next breath. And, being how money can just be made, and is mostly just digital, I greatly doubt if any”one” kicked out anything.

    How long has it been since US debt has been being counted? At this point, it really, truly, doesn’t matter. They are just making it up, day to day, hoping the people who need to believe do so and that those who don’t, and can prove it, will ask their bankster bosses or cohorts before going public. So they can help them do the right thing.

    He says $400 million like it means something! *sniggering and chuckling* You slay me.

    • El B's phone said, on August 24, 2015 at 15:38

      Tbh I pulled that number out of my ass. But if it’s not that number it’s surely another.

      • Doom said, on August 24, 2015 at 16:41

        Ass numbers are all we have, my friend. I have put a range to it, and shipped it. Not to be outdone, or to outdo, just to add my two cents. Well, I have it at the $300~$600 m, and I have it that the money is gone, through the process, spent on stability. If they have to shoot you for it, I suppose I am next in line. Oh, but if so, let me go first. I hate waiting, and standing… and you know how these f*cking bureaucrats are. This’ll take hours!

  3. Huckleberry said, on August 24, 2015 at 12:32

    We may hit -1,000 yet.
    Tumble, tumble, boil and bumble…

    • Doom said, on August 24, 2015 at 18:18

      The Lord knows, tis good to have friends of cheer. If China can’t keep it in check, we are among the next. And, I’m betting China, even with bombing their manufacturing, twice to be sure, won’t be able to save much. Is Russia even trying anymore? I’m thinking Russia is no longer running a small US state economy, but more like a larger US state county economy. China will soon be catching up.

      If you didn’t notice, they gas prices are going up while oil is going down. My guess is our government is robbing us through the petrol companies. Does the government just own, or manage, the bigs anymore? They must. And it isn’t just at the federal level. The states allow the feds so they can get their share.

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