Tomorrow will be exciting

[solarbird]

Good evening.

Asia markets are having a very bad day, and the EU just told the FSB countries in eastern Europe that they're on their own. Remember what I've said about the European banking system? Keep that in mind. Also, something strange is going on at HSBC, and they're pulling back sharply on US operations as of immediately.

DJIA futures are down around 100 and have a 6-handle. Here's a graph of annualised GDP quarterly reports, courtesy cow. Here are a lot of other important graphs summarising February, economically. You won't like them.

Tomorrow will be exciting. Good luck.

eta: HSBC is facing substantial losses, and is going to issue £12.85 billion in new stock. Equities markets are predictably unhappy, but not in freefall.

Comments

[xanath.livejournal.com]

I was referred here by a friend--can't remember which one, as I'm brain-dead from insomnia today--but I wanted to let you know two things.

1) Thank you for taking the time to write this blog. I work in the financial business, and I really appreciate your depth of knowledge in explaining matters that have been complicated beyond belief.

2) Thanks again for the heads-up about HSBC. The word for the day seems to be, "YIKES!"

[quen-elf.livejournal.com]

To be fair, HSBC's substantial losses are only in the US (where it's lost essentially everything, because it paid a lot of money for a company that is worthless). Overall it actually made a large, albeit rather smaller than last year, profit.

I know you know that because the article you linked says so, just saying in case anybody else is confused :)

[solarbird]

Well, just remember: I am not an investment advisor, and this is never, ever, investment advice. ^_^

[xanath.livejournal.com]

Me either. I took what was left of my 401K last November and tossed it into a Vanguard index fund. Every day when I have lunch, I turn to the TV in the company breakroom, always tuned to CNBC, and extend both middle fingers to the screen.