Global financial system implosion begins

[Idaho]

Ok, well this was the crash of this decade. 2000, 2008, 2020.

 

[Humberto]

Where does all this money come from and go to when they do 'market stimulus packages'? How does that work practically?

 

[Humberto]

 

[Humberto]

That won't be paid back will it??

 

[Idaho]

Where does all this money come from and go to when they do 'market stimulus packages'? How does that work practically?

Basically they lend money to banks who are meant to then lend it to other banks and borrowers. In truth those banks have been hoarding or gambling with it.

 

[Humberto]

Basically they lend money to banks who are meant to then lend it to other banks and borrowers. In truth those banks have been hoarding or gambling with it.

So they give enormous sums of public money to private interests for nothing in return?

 

[Artaxerxes]

So they give enormous sums of public money to private interests for nothing in return?

Is this really news?

 

[Humberto]

Is this really news?

Yes see post 6213

 

[ska invita]

So they give enormous sums of public money to private interests for nothing in return?

not for nothing in return, they get to make capitalism great again

 

[Artaxerxes]

Yes see post 6213

They’ve been doing it for decades.

It’s now olds

 

[kabbes]

Somebody is making a lot of money out of this volatility. Not me, but somebody is.

 

[not-bono-ever]

Black box stuff loves volatility- VIX is at its highest since 08

 

[pesh]

Trump is due to speak his brains again at 3pm, so that should be fun.

 

[kabbes]

Trump is due to speak his brains again at 3pm, so that should be fun.

Phew! Up to a 9% rise and then back again in one single day!

 

[kabbes]

How the last Trump speech on this came to be:

Kushner made last-minute changes to Trump's error-riddled coronavirus speech — Business Insider

Jared Kushner, the president's son-in-law and top adviser, and Stephen Miller, a senior policy adviser, took the lead in writing the president's error-riddled coronavirus speech to the nation on Wednesday night. The two aides have no public-health or medical expertise and haven't been deeply...

apple.news

 

[Crispy]

Fed rate now 0%

 

[kabbes]

Fed rate now 0%

And $700bn of QE.

and yet Dow Jones futures down 1000 points. The volatility is crazy high

 

[not-bono-ever]

swap lines massively increased by the central banks today in coordinated move - stuff like this happening on the weekend this is serious.

Trump called the move “terrific” and “very good news.”

ffs

 

[not-bono-ever]

"The Fed also said it would support U.S. banks that began to tap the capital and liquidity buffers they built up in the aftermath of the 2008 financial crisis and would reduce reserve requirement ratios to 0% effective on March 26. "

this is it

 

[not-bono-ever]

And $700bn of QE.

and yet Dow Jones futures down 1000 points. The volatility is crazy high

vix is running at c 58, maybe 8 below 2008 peaks . fuck knows what will happen on monday

* i know, I know, I keep on looking at the VIX*

 

[Badgers]

I imagine that the likes of Virgin Airlines (tax dodging, NHS suing Island owing cunts) and many of the privately owned public transport franchises will be begging for handouts.

 

[Idaho]

FTSE 250 tanking. All other markets tanking too. It's going to be carnage when the us opens. I predict they get switched off after 15 minutes.

 

[kabbes]

The odd part is: what’s this huge drop today in response to? Sentiment on Friday was up, over the weekend, central banks coordinated to inject massive stimulus, there’s no new news in the virus itself and yet... carnage. It’s pure panic selling.

 

[Idaho]

The odd part is: what’s this huge drop today in response to? Sentiment on Friday was up, over the weekend, central banks coordinated to inject massive stimulus, there’s no new news in the virus itself and yet... carnage. It’s pure panic selling.

The fed made a mistake by throwing the kitchen sink at it so soon. I think that's freaked everyone out.

 

[kabbes]

The fed made a mistake by throwing the kitchen sink at it so soon. I think that's freaked everyone out.

... until tomorrow, when it all goes back up by 10%!

 

[Idaho]

... until tomorrow, when it all goes back up by 10%!

I think we're going to see it settling a little... The question is where will we be once August comes.

 

[discokermit]

The odd part is: what’s this huge drop today in response to? Sentiment on Friday was up, over the weekend, central banks coordinated to inject massive stimulus, there’s no new news in the virus itself and yet... carnage. It’s pure panic selling.

the latest figures for the chinese economy were released early this morning.

 

[discokermit]

China Jan-Feb industrial output shrinks 13.5%; investment plunges 24.5%

* Industrial output -13.5% y/y in Jan-Feb; Reuters poll 1.5% y/y

www.reuters.com

 

[kabbes]

Isn’t that already what was expected though?

 

[Idaho]

Isn’t that already what was expected though?

You seem slightly incredulous that the markets are so irrational and sentimental!