[Cashmere]

A "deal" will be worked out before the markets open, and stocks will soar in full celebratory mode. That's what's been happening all along. Why should it be different with Lehman?

Because there is no "deal" that won't result in major damage.

No fed bailout - credit crisis deepens. Fed bailout - dollar value plummets.

[Cashmere]

Banks and Markets in Asia are closed for Holiday.

Perhaps some! Not all Alex . . . Taiwan down 5%!
Linky Linky Link

[ReverseEngineer]

Appeal to the other central banks, sovereign funds to step in and bail out WAMU and AIG. Its in their interest that the system does not collapse. If the US system goes down........so will the rest of the world.

This already was tried with the Koreans. They walked away from the table.

I'm sure most of the other central bankers know what this means. However, they are on board the Titanic also, and there are no Lifeboats. No safe haven for capital, there isn't enough real Gold in all the world to buy now.

How ANY country will retain its political structure once the effects of this reverberate through the world economy is impossible to say. If you have a Bug Out Plan, now would be a good time.
Reverse Engineer

[Cashmere]

Appeal to the other central banks, sovereign funds to step in and bail out WAMU and AIG. Its in their interest that the system does not collapse. If the US system goes down....so will the rest of the world.

If you have a Bug Out Plan, now would be a good time.

Do not bug out yet. That would be a panic bug out.

Just make sure your bug out bag is packed.

[AlexdeLarge]

Bug out to where??? I picked a bad day to stop drinking!!!

[jerry_mcmanus]

Things are moving fast: Latest developments at LA Times

A couple of hours into the trading session, the Australian market was down 2.4%, the Taiwan market was off 3.6% and the Singapore market was down 2.4%

Cheers,
Jerry

[ReverseEngineer]

Do not bug out yet. That would be a panic bug out. Just make sure your bug out bag is packed.

I Pushed TSHTF Button too soon again?
Reverse Engineer

[mos6507]

I Pushed TSHTF Button too soon again?

Don't you already live in the middle of nowhere?

[ReverseEngineer]

I Pushed TSHTF Button too soon again?

Don't you already live in the middle of nowhere?

Pretty much. I Pushed TSHTF Button on myself a couple of years ago, I was a little ahead of the curve I guess Certain amount of luck and circumstances related to the move, but I have been spinning outward toward the edge of civilization since my birth in NYC 50 years ago. In a neighborhood called Hell's Kitchen in Lower Manhattan, appropriately enough I suppose from your opinion of me

Could still go a bit further out, but if I did I would lose touch with people entirely, so here in this community I will make my Last Stand. Just have to see how it goes here. I'll finish with something DIFFERENT than Tom Joad for a change, just to relieve the boredom

From the Last of the Mohicans:
British Officer: You call yourself a patriot, and loyal subject to the Crown?
Hawkeye: I do not call myself subject to much at all.

Duncan: There is a war on. How is it you are headed west?
Hawkeye: Well, we kinda face to the north and real sudden-like turn left.

Duncan: And who empowered these colonials to pass judgement on England's policies, and to come and go without so much as a "by your leave"?
Cora Munro: They do not live their lives "by your leave"! They hack it out of the wilderness with their own two hands, bearing their children along the way!

So it will be again.
Reverse Engineer

[jbrovont]

Might want to add some whisky to your bug-out bag. I am.

Bug out to where?? I picked a bad day to stop drinking!!! See photo AlexdeLarge's post

[Cid_Yama]

Dow futures down 348, Nasdaq futures down 50, S&P futures down 48

[Cashmere]

I don't see any way they can put enough lipstick on this pig, but they've been very creative since the crisis began last summer (which Mr. Bill missed), so I won't put it by them to have the market back up tomorrow.

[firestarter]

It's op ex week, so anything can and will happen. The Fed can now literally pump the market up, so I think a crash is not likely, but who knows, perhaps the forces of unwind are too much even for them and their illegal interventions.

[Roy]

[Cid_Yama]

AIG down over 60%

[Cid_Yama]

On CNBC they said "too late to panic".

What the hell does that mean. What, like, "We managed to talk you out out of most of your capital, might as well give us the rest?"

[Specop_007]

On CNBC they said "too late to panic".

What the hell does that mean. What, like, "We managed to talk you out out of most of your capital, might as well give us the rest?"

It means what most of us were saying 6 months ago.

At this point we're strappped into the chair and going down the track of this roller coaster. It IS too late to panic, it was toolate 6 months ago. We're struck for the ride now, nothing to do but hang on and smile.

[Cid_Yama]

Yeah, I've been telling everyone to get out totally since summer 2007.

Myself, I got totally out when I got my fingers burned on MCI/Worldcom. I was really angry at the time even though I didn't really lose that much.
Now I'm thinking, maybe it was a good thing, because it woke me up and saved me from major losses.