Japan stock market down 14% and that tsunami should hit NYSE tomorrow..

[PeacePlan]

You should all take a look at the Asian markets as they are tanking.. click on the link below. We could be in for a rough ride as this may be the start of the house of cards collapse...

http://finance.yahoo.com/intlindices?e=asia

Hate to holler the sky is falling but it just might be - this is it?

[doodle]

This points to some latest news that is almsost 2.5 times worse than what was known till yesterday when Japan market was down 6%.

http://finance.yahoo.com/q/bc?s=%5EN225&t=5d&l=on&z=l&q=l&c=

So about 20% down in two days?

Today it just fell off the cliff.

[PeacePlan]

I can remember back about 1990 that it was around 40,000........... 20 years later still down from the old highs by more than 75%

[doodle]

Nuclear crisis whacks stocks in Japan, across Asia
Japan shares plunge 12 percent on fears of nuclear crisis, other Asian markets tumble
http://finance.yahoo.com/news/Nuclear-crisis-whacks-stocks-apf-946477833.html?x=0&sec=topStories&pos=main&asset=&ccode=

[PeacePlan]

Japan is either #1 or #2 holder of U.S. treasuries and have been a buyer of them. They may be forced to sell some and stop buying. I smell QE3 is just around the corner only it will be disguised with a new name. We will have to buy more of our own treasuries or interest rates will go up.

[Vessol]

Some things to add:

*Japan is the #1 holder of US treasuries, they very well likely be forced to sell them in order to try to liquidate at least a portion of their mountain of debt.
*Japan has been on the brink of economic collapse for almost two decades now, their debt is 183% of their GDP, one of the highest in the world.
*Japan is the third largest economy following the US and China.

There is going to be MASSIVE ripple effects.

[jclay2]

Japan is either #1 or #2 holder of U.S. treasuries and have been a buyer of them. They may be forced to sell some and stop buying. I smell QE3 is just around the corner only it will be disguised with a new name. We will have to buy more of our own treasuries or interest rates will go up.

"Flight to Safety" in full force right now. Yields are getting whacked. The ten year has had a near 20 bp drop in the last day.

[PeacePlan]

"Flight to Safety" in full force right now. Yields are getting whacked. The ten year has had a near 20 bp drop in the last day.

I will be watching tomorrow in our markets to see how this plays out. My guess right now is the market will dive? I will be watching the interest rates although they can control them by buying them - they at some point have to stop and then game over.

[TheeJoeGlass]

Triple digit losses tomorrow morning.

[Vessol]

To put into comparison, the largest drop ever in a single day on the NYSE on Sept. 28, 2008..was 6.98%.

[PeacePlan]

Dow futures down 244 - click on the link below..

http://money.cnn.com/data/premarket/index.html

[Matt Collins]

There is going to be MASSIVE ripple effects.

http://www.slappytickle.com/images/panic_button.jpg

Sheesh... for once I am truly sorry to say that I was right
(http://www.ronpaulforums.com/showthread.php?283377-Will-the-Japanese-disaster-trigger-global-economic-depression&highlight=ripple)

[muzzled dogg]

What's this gonna do for pm's? Japan will be selling gold no?
Investors elsewhere will be buying gold at lower prices and as their own respective markets stumble?

[angelatc]

You guys worry too much. They're up tonight printing money like crazy, and they'll prop the market up just like they always do. :)

[Vessol]

You guys worry too much. They're up tonight printing money like crazy, and they'll prop the market up just like they always do. :)

Yeah. I'm not worried, Larry Summers said that the earthquake would help the world economy in the long run!

[YumYum]

Worried about money, huh? Uh, is anybody here worried about breathing radiation?

[PeacePlan]

What's this gonna do for pm's? Japan will be selling gold no?
Investors elsewhere will be buying gold at lower prices and as their own respective markets stumble?

My guess is if all the markets start crashing at first gold will go down as every asset will get sold. After the initial selling and as all the fiat countries start printing to try and save the world economy they will come back to buying gold.

Japan has 765 tonnes of gold - I would think they would sell treasuries first before any gold selling. They have a lot of treasuries that can be sold.

[devil21]

Tens of billions to rebuild Japan but that's chicken feed these days. The Fed is monetizing that amount every few weeks! While this has been a terrible human event, I don't think stocks will redirect downward for any sustained length of time. Japan has something like 100 million people in their 3rd largest economy. They will bounce back and most of their manufacturing wasn't affected at all. I think their fishing industry will be the hardest hit. How many fishing boats were destroyed? Just my thoughts.

[HOLLYWOOD]

Tens of billions to rebuild Japan but that's chicken feed these days. The Fed is monetizing that amount every few weeks! While this has been a terrible human event, I don't think stocks will redirect downward for any sustained length of time. Japan has something like 100 million people in their 3rd largest economy. They will bounce back and most of their manufacturing wasn't affected at all. I think their fishing industry will be the hardest hit. How many fishing boats were destroyed? Just my thoughts.

http://www.bloomberg.com/news/2011-03-15/bank-of-japan-fails-to-contain-investor-panic-as-nuclear-danger-escalates.html

Bank Of Japan

MONDAY: $180 Billion in QE
TUESDAY: $100 Billion in QE
WEDNESDAY: $60 Billion in QE (projected)

The hidden problem are the Insurance backers... AFLAC, AIG, etc.

They are definitely downplaying the costs of the damages. No way this is disaster in Japan $10-15 Billion. They can spend that amount on repairing the nuke plants alone... this is where the cover-up will take place.


Before the quake, Japan’s economy was showing signs of a revival, after shrinking an annualized 1.3 percent in the fourth quarter of last year.
Kanno at JPMorgan shaved 0.5 percentage point from his GDP growth forecast for the first quarter, bringing it to 1.7 percent, and cut his second-quarter projection to 0.5 percent from 2.2 percent. He anticipates a rebound in the second half as reconstruction occurs, with a 4 percent expansion in July to September and 2.5 percent gain in the final three months of 2011.
“You wouldn’t expect a macro effect” from the BOJ’s steps so far, said Richard Jerram (http://topics.bloomberg.com/richard-jerram/), chief economist at Macquarie Securities Ltd. in Singapore (http://topics.bloomberg.com/singapore/). “The liquidity supply was a normal response to make sure the markets function in an orderly fashion. It was nothing more than standard operating procedure.”
To contact the reporters on this story: Keiko Ujikane in Tokyo at kujikane@bloomberg.net; Mayumi Otsuma in Tokyo at motsuma@bloomberg.net


http://www.kantei.go.jp/foreign/index-e.html

http://www.kantei.go.jp/foreign/kan/actions/201103/__icsFiles/afieldfile/2011/03/14/13KAIGO_keizai1_1.jpg (http://www.kantei.go.jp/foreign/kan/actions/201103/13KAIGO_keizai_e.html)
Prime Minister Naoto Kan attended the second meeting of the Council on the State of the Economy held at the Prime Minister's Office.
[Sunday, March 13, 2011]

[PeacePlan]

I just put in sell orders on 75% of my mining stocks. I hope to buy back much cheaper in a few days?

[Mike4Freedom]

I just put in sell orders on 75% of my mining stocks. I hope to buy back much cheaper in a few days?

It just may be a bloodbath today