Collapse on Wall Street
http://www.mikeruppert.blogspot.com
Monday, September 15, 2008
Collapse on Wall Street
This is what collapse looks like on Wall Street. October looks like
it is going to be bloody beyond belief. Read the story closely and
smell the fear. T here is now a $400 trillion derivatives bubble
hanging in the balance. The government has drawn the line on
bailouts. That's good but it means the Fed is getting seriously
squeezed and it hasn't dealt with Ike yet. We don't have a clue as to
how much damage Ike did yet but it was serious. The price of gold has
been bombed as bad as the price of oil. Both are due for huge
breakouts and capital is looking for the exits. Today is going to be
a busy, busy day. We have passed the Plunge Protection Team's pay grade.
I have no way of knowing because I won't take the enormous time to d
oit; but I wonder if Lehman was also trading oil. You see all the
lies that the short-sighted markets tell themselves have maturity
dates beyond the markets' visual range. Then, like two trains, they
round ab end from opposite directions and things get "marked to
market". Lehman is only one car in the train. Bear Stearns was the
first; then Lehman. Fannie and Freddie are a different train wreck
with the same cause. B of A just bought Merril Lynch. How many times
have I said it was always going to be a liquidity crisis that broke
things open? There isn't enough opium in Afghanistan or Coca in
Bolivia to fix this one.
http://money.cnn.com/2008/09/14/news/companies/lehman_brothers/index.htm
(Yes, I live in L.A. and it was a God-awful train crash we had.)
MCR
