Comments on: Another Bad Start to the Day in Asia (Update: Carnage!) http://www.nakedcapitalism.com/2008/10/another-bad-start-to-day-in-asia.html Sun, 22 Nov 2009 14:06:54 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: bena gyerek http://www.nakedcapitalism.com/2008/10/another-bad-start-to-day-in-asia.html#comment-20085 bena gyerek Wed, 08 Oct 2008 10:21:00 +0000 http://www.nakedcapitalism.com/2008/10/another-bad-start-to-the-day-in-asia-update-carnage/#comment-20085 richard, how about "oblivion october"?<br/><br/>i've given up waiting for a sucker's rally. i'm going to sell all my remaining shares today.<br/><br/>market hasn't even woken up to the coming meltdowns in china, consumer credit and corporate credit yet. fun times ahead.. richard, how about “oblivion october”?

i’ve given up waiting for a sucker’s rally. i’m going to sell all my remaining shares today.

market hasn’t even woken up to the coming meltdowns in china, consumer credit and corporate credit yet. fun times ahead..

]]> By: Richard Kline http://www.nakedcapitalism.com/2008/10/another-bad-start-to-day-in-asia.html#comment-20076 Richard Kline Wed, 08 Oct 2008 09:16:00 +0000 http://www.nakedcapitalism.com/2008/10/another-bad-start-to-the-day-in-asia-update-carnage/#comment-20076 Someone want to tell me again how strong the yen is going to be with their zero bound policy rates, and toilet bound export economy? <br/><br/>Ben B. playing with his rates is really and truly pathetic. For him to say at this juncture, as he did in Tuesday's remarks, that we do not have a solvency problem in the US is delusional; he's yesterday's man indeed, and simply unwilling to see what he is looking at. Rate diddling is pointless, and the idea of using rates to 'give a confidence boost' to the markets is a confidence scheme all right. Some of the things the Fed has tried are, in fact clever, and they may yet wake up on the right side of the bed and get behind a Bitter Swedish Solution for the US. I don't think Bernanke has that in him, and events will simply sweep by and past him if he doesn't. <br/><br/>Those are breath-take-away implosions in the Asian markets, even if they are more volatile. But equities _have_ to come down; it's a bitter blow, but they've been pumped up like everything else. If we are going to get a _crash_ out of this collapse in equity prices in the US, it looks to be this week. If September was Black, what do we call October? Lightless? The Black Hole of Manhattan??? Someone want to tell me again how strong the yen is going to be with their zero bound policy rates, and toilet bound export economy?

Ben B. playing with his rates is really and truly pathetic. For him to say at this juncture, as he did in Tuesday’s remarks, that we do not have a solvency problem in the US is delusional; he’s yesterday’s man indeed, and simply unwilling to see what he is looking at. Rate diddling is pointless, and the idea of using rates to ‘give a confidence boost’ to the markets is a confidence scheme all right. Some of the things the Fed has tried are, in fact clever, and they may yet wake up on the right side of the bed and get behind a Bitter Swedish Solution for the US. I don’t think Bernanke has that in him, and events will simply sweep by and past him if he doesn’t.

Those are breath-take-away implosions in the Asian markets, even if they are more volatile. But equities _have_ to come down; it’s a bitter blow, but they’ve been pumped up like everything else. If we are going to get a _crash_ out of this collapse in equity prices in the US, it looks to be this week. If September was Black, what do we call October? Lightless? The Black Hole of Manhattan???

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/another-bad-start-to-day-in-asia.html#comment-20071 Anonymous Wed, 08 Oct 2008 08:23:00 +0000 http://www.nakedcapitalism.com/2008/10/another-bad-start-to-the-day-in-asia-update-carnage/#comment-20071 The rumor that Toyota might report weaker-than-expected sales probably helped accelerate the Japanese markets to the downside. I don't have any idea whether or not that rumor is true but... I just finshed listening to Corning's (ticker: GLW)most recent conference call. In that call, Jim Flaws hinted that auto sales were not only significantly down in the US, but also worldwide. The rumor that Toyota might report weaker-than-expected sales probably helped accelerate the Japanese markets to the downside. I don’t have any idea whether or not that rumor is true but… I just finshed listening to Corning’s (ticker: GLW)most recent conference call. In that call, Jim Flaws hinted that auto sales were not only significantly down in the US, but also worldwide.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/another-bad-start-to-day-in-asia.html#comment-20066 Anonymous Wed, 08 Oct 2008 07:56:00 +0000 http://www.nakedcapitalism.com/2008/10/another-bad-start-to-the-day-in-asia-update-carnage/#comment-20066 "3 a.m., Yves? Sleep, rest, repeat."<br/><br/>yves is like my boss; both of them only need 4 hours of sleep a day. “3 a.m., Yves? Sleep, rest, repeat.”

yves is like my boss; both of them only need 4 hours of sleep a day.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/another-bad-start-to-day-in-asia.html#comment-20063 Anonymous Wed, 08 Oct 2008 07:47:00 +0000 http://www.nakedcapitalism.com/2008/10/another-bad-start-to-the-day-in-asia-update-carnage/#comment-20063 3 a.m., Yves? Sleep, rest, repeat. 3 a.m., Yves? Sleep, rest, repeat.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/another-bad-start-to-day-in-asia.html#comment-20048 Anonymous Wed, 08 Oct 2008 05:58:00 +0000 http://www.nakedcapitalism.com/2008/10/another-bad-start-to-the-day-in-asia-update-carnage/#comment-20048 Nikkei down almost 9% at this point. These aren't normal moves in mature markets. What an amazing time we're experiencing. Nikkei down almost 9% at this point. These aren’t normal moves in mature markets. What an amazing time we’re experiencing.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/another-bad-start-to-day-in-asia.html#comment-20047 Anonymous Wed, 08 Oct 2008 05:54:00 +0000 http://www.nakedcapitalism.com/2008/10/another-bad-start-to-the-day-in-asia-update-carnage/#comment-20047 I think the rate cut is already discounted. Looks like pure panic at this point in time. Agree that the European markets will tell a lot of the tale but the central banks are starting to run out of bullets. <br/><br/>Is the British solution the only viable option left on the table? I think the rate cut is already discounted. Looks like pure panic at this point in time. Agree that the European markets will tell a lot of the tale but the central banks are starting to run out of bullets.

Is the British solution the only viable option left on the table?

]]> By: tyaresun http://www.nakedcapitalism.com/2008/10/another-bad-start-to-day-in-asia.html#comment-20041 tyaresun Wed, 08 Oct 2008 04:26:00 +0000 http://www.nakedcapitalism.com/2008/10/another-bad-start-to-the-day-in-asia-update-carnage/#comment-20041 The chinese markets were closed, aren't they simply playing catch up? Of course that does not hold true for the Nikkei and the rest of the Asian markets.<br/><br/>I am more curious to see if the European markets continue to fall. <br/><br/>If the all the markets continue to fall I think we will see a coordinated action before the Asian markets open on Friday morning, perhaps a coordinated rate cut. The chinese markets were closed, aren’t they simply playing catch up? Of course that does not hold true for the Nikkei and the rest of the Asian markets.

I am more curious to see if the European markets continue to fall.

If the all the markets continue to fall I think we will see a coordinated action before the Asian markets open on Friday morning, perhaps a coordinated rate cut.

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