Another Day, Another Stock Market Crash

Former Gordon Brown aide Damian McBride:

damian_mcbride

Cashpoint was open, and no queue, so I got money out easy. And then strolled across the road to my usual ‘rallying point’, the local pub. Where I bought a beer – because basically, well, I guess I just prefer beer to bottled water. The landlady remarked that August’s weather had been “rubbish,” which was true. And then I sat outside nervously smoking under an awning holding about 30 gallons of rainwater, slowly sloshing to and fro in the wind, and occasionally spilling down the sides.

Tomorrow, if the world hasn’t ended, and the town hasn’t burned down, and there aren’t Islamic State beheading parties roaming the streets, and it’s not still raining, I may go back and have another beer. And smoke some more cigarettes.

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About Frank Davis

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11 Responses to Another Day, Another Stock Market Crash

  1. harleyrider1978 says:

    My wifes client today was bytching about how much in values shes already lost on the crash……..

    Told her your suppose to get out at the high and come back in at the low………or not be in that fixed racket to begin with.

    • harleyrider1978 says:

      Then as usual about 10 am this morning the FED stepped in dumping billions to buy up the losses as they came in trying to stabilize the sell offs everywhere. Now they revert to the usual propaganda and call it a correction,its not a correction it was a free fall and everytime it happens the FED dumps tens of billions to the wall st banksters to buy up everything being dumped and the FED holds it and then sells bits of it back over time but usually they get stuck with worthless paper. The taxpayer gets stuck for that.

  2. harleyrider1978 says:

    Global Trade In Freefall: Container Freight Rates From Asia To Europe Crash 60% In Three Weeks |…

    Three weeks ago, “something just snapped.” Now, it is getting worse by the day.
    http://www.zerohedge.com/news/2015-08-23/global-trade-freefall-container-freight-rates-asia-europe-crash-60-three-weeks

    • harleyrider1978 says:

      Three weeks ago, when we last looked at the collapse in trade along what may be the most trafficked route involving China, i.e., from Asia to Northern Europe, we noted that while that particular shipping freight rate Europe had crashed some 23% on just one week, there was some good news: at least the Baltic Dry index was still inexplicably rising, and at last check it was hovering just above 1,100.

      That is no longer the case, and just as with everything else in recent months, the Baltic Dry dead cat bounce is now over, with the BDIY topping out just above 1200 on August 4, and now back in triple digit territory, rapidly sliding back to the reality of recent record lows which a few months ago we suggested hinted that much more is wrong with global trade, and the global economy, than artificially manipulated stock markets would admit.

  3. harleyrider1978 says:

    Andrew Phillips

    5 hrs ·

    .

    Well that economic recovery sure looks like a big f**king train wreck coming right at us to me.

    Central Bank Omnipotence Fails, Stocks Melt Down in Asia and Europe, Oil Plunges, Dollar Swoons

    It’s easy to deny the existence of a bubble. It’s impossible to deny its implosion.
    http://wolfstreet.com/2015/08/24/central-bank-omnipotence-fails-stocks-melt-down-in-asia-europe-oil-plunges-dollar-swoons/

  4. Lepercolonist says:

    Frank, you made me laugh.

  5. roobeedoo2 says:

    Got caught in the most amazing downpour yesterday. From supermarket door to driving away we got completely drenched. It was far too wet to smoke on the way home *boo* but husband had drive home bare chested, which was nice.

  6. smokingscot says:

    Seems those at the sharp took the same devil may care attitude as yourself.

    The FT 100 closed about 3% UP on the day today.

    https://uk.finance.yahoo.com/echarts?s=%5EFTSE

    “do you have enough …etc to live indoors for a month?”

    I’d suggest Mc Bride try that himself without running water, an effective sewage system, no electricity and of course no telephone. It’d be fairly quiet after a couple of days, without fuel sod-all will be on the roads.

    Then he’ll hear all manner of things going on outside, until the feral gangs do the normal, natural thing of taking from the weakest. Mc Bride’d just cave in.

    However that sort of scare story’ll play well with people who think they’ll die if they breathe free floating tobacco smoke. Doubtless Andy Black and Debs Arnott had their respective flunkies go buy 30 bottles of water and 300 loo rolls.

    (I see the NYSE and Nasdaq both closed down on the day, however that’s probably on account the fact they’re somewhat pissed off that interest rates won’t be going up next month, something lots of pundits prophesied).

  7. harleyrider1978 says:

    OMG the stomach flu has hit me this morning after I drank 1 cup of coffee at 530. you feel feverish/cold stomach knotted up and just general fluish feeling all over with a tad of nausea. Able to keep liquids down but jesus this crap is tough.

  8. scot says:

    I think it’s all to do with the simultaneous announcment that “1-D” had decided to to take a year long hiatus to count all their money. This affected the far-East markets, leading to another economic downturn, well if you watched the news on TV you could well believe it was the same story but divided into differing segments… (it didn’t get past me though…)

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