DOUGLAS V. GIBBS<---------->RADIO<---------->BOOKS<---------->CONSTITUTION <---------->CONTACT/FOLLOW <----------> DONATE

Wednesday, January 20, 2016

Global Stock Market Implosion Accelerates

by JASmius



That's great, it starts with an earthquake
Birds and snakes, an aeroplane, and Lenny Bruce is not afraid

Eye of a hurricane, listen to yourself churn
World serves its own needs, don't misserve your own needs
Feed it up a knock, speed, grunt, no, strength
The ladder starts to clatter with a fear of height, down, height
Wire in a fire, represent the seven games
And a government for hire and a combat site
Left her, wasn't coming in a hurry with the Furies breathing down your neck

Team by team, reporters baffled, trumped, tethered, cropped
Look at that low plane, fine, then
Uh-oh, overflow, population, common group
But it'll do, save yourself, serve yourself
World serves its own needs, listen to your heart bleed
Tell me with the Rapture and the reverent in the right, right
You vitriolic, patriotic, slam fight, bright light
Feeling pretty psyched

It's the end of the world as we know it
It's the end of the world as we know it
It's the end of the world as we know it, and I feel fine

Six o'clock, TV hour, don't get caught in foreign tower
Slash and burn, return, listen to yourself churn
Lock him in uniform, book burning, bloodletting
Every motive escalate, automotive incinerate
Light a candle, light a motive, step down, step down
Watch your heel crush, crush, uh-oh
This means no fear, cavalier, renegade and steering clear
A tournament, a tournament, a tournament of lies
Offer me solutions, offer me alternatives, and I decline

It's the end of the world as we know it (I had some time alone)
It's the end of the world as we know it (I had some time alone)
It's the end of the world as we know it, and I feel fine (It's time I had some time alone)
I feel fine (I feel fine)

It's the end of the world as we know it (It's time I had some time alone)
It's the end of the world as we know it (It's time I had some time alone)
It's the end of the world as we know it, and I feel fine (It's time I had some time alone)

The other night I dreamt a nice continental drift divide
Mountains sit in a line, Leonard Bernstein
Leonid Brezhnev, Lenny Bruce, and Lester Bangs
Birthday party, cheesecake, jellybean, boom
You symbiotic, patriotic, slam but neck, right? Right

It's the end of the world as we know it (It's time I had some time alone)
It's the end of the world as we know it (It's time I had some time alone)
It's the end of the world as we know it, and I feel fine (It's time I had some time alone)

It's the end of the world as we know it
It's the end of the world as we know it
It's the end of the world as we know it, and I feel fine (It's time I had some time alone)

It's the end of the world as we know it (It's time I had some time alone)
It's the end of the world as we know it (It's time I had some time alone)
It's the end of the world as we know it, and I feel fine (It's time I had some time alone)

It's the end of the world as we know it (It's time I had some time alone)
It's the end of the world as we know it (It's time I had some time alone)
It's the end of the world as we know it, and I feel fine (It's time I had some time alone)

- R.E.M.

U.S. stocks tumbled, following a renewed selloff across stocks worldwide as skepticism about the strength of the global economy intensified.

Commodity shares remained at the forefront of the selloff, with energy companies sinking further into five-year lows and on pace for their worst monthly slump since 2008. International Business Machines Corp. fell 5.5% after its earnings forecast missed projections. Banks slid for a third day, with Citigroup Inc. and Bank of America Corporation down more than 3.4%.

The Standard & Poor’s 500 Index dropped 2.1% to 1,842.19 at 9:58 a.m. in New York, putting it on track for its lowest level since April 2014. The Dow Jones Industrial Average lost 319.16 points, or 2%, to 15,696.86. The Nasdaq Composite Index and the Russell 2000 Index sank 2.4%....

Global equities’ worst-ever start to a year is deepening as oil continues its collapse and a[n engineered] slowdown in [Red] China weighs on sentiment. Japanese shares joined benchmark indexes in [Red] China and Europe in tumbling into a bear market today. West Texas Intermediate crude futures slumped below $28 a barrel.

About $2.2 trillion has been wiped off the value of U.S. stocks this year through yesterday, with the S&P 500 down 8%. And any rallies are getting shakier: nerves are weakening in a market where everything from China to oil and the Federal Reserve are proving capable of knocking equities down at any time. It’s a reversal of the [Fed easy-money-fueled] optimism that underpinned the last three years of the bull market, when traders viewed bad news as transitory and used declines as opportunities to buy the dip. [emphasis added]



Incidentally, remember when Barack Obama said that we couldn't drill our way to lower gasoline prices?  Good times, good times.



No comments: