Jim Sinclair’s Commentary
Change this headline to "Bernanke’s constant MOPE on draining as well as stopping QE, the Brits BS on stopping QE, yesterday’s nonsense on a strong dollar policy, and crappy jobs numbers, in that order, pushed stocks down sharply."
There is no recovery of sustainability anywhere in the West, so if these guys at the central banks keep up the raving BS then the economic apple cart is going over hard and heavy. States of the US will go bankrupt by the dozens, forget about cities! The need for bailouts then goes ballistic.
Ballistic bailouts will be met by QE to infinity or the US Fed is history. Meanwhile the banksters have cleaned out their respective treasuries with historically high bonuses because it is clearly the last chance they will have in this generation.
Habeas Corpus is history. Washington declares who is a terrorist and who is not.
However, MOPE tells us every day that everything is better than OK! The F-airwaves will tomorrow continue their daily flag waving.
The world has gone so clearly mad the gods must be ready to destroy it. The Mayans are looking far smarter right now than they have ever been given credit for.
Sovereign Debt and Job Worries Push Stocks Down Sharply; Dow Industrials Fall 2.6%
Two of Wall Street’s biggest fears — a deteriorating employment picture and the debt woes facing foreign governments — re-emerged on Thursday, pushing stocks sharply lower. The Dow Jones industrial average fell 2.6% and briefly dipped below 10,000 before closing at 10,002.18 in preliminary figures; broader indexes slid nearly 3 percent.
Thursday’s trading brought hefty declines across the board, with a possible crisis in the European financial system overshadowing news of robust earnings for technology companies.
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