Europe Plunging: Flash Crash Thursday 2.0?

The Business Insider ^ | 5-20-2010 | Joe Weisenthal

[blam]

Europe Plunging: Flash Crash Thursday 2.0?

Joe Weisenthal
May. 20, 2010, 7:49 AM

Update: Things are getting really ugly in the US. S&P futures are down 2.0% following some ugly jobless numbers, and the flood of pictures from Greece.

Original post: Today is feeling frighteningly similar to the day of the Flash Crash, May 6, which happened to be exactly two weeks ago.

For one thing, it's a Thursday. For another thing, Greeks are amassing in protest. And the markets are already selling off hard.

Right now Dow futures are off over 150, and France's CAC-40 is off over 2%.

Gold is also sharply lower.

Here's France:

[snip]

[blam]

Here's What Things Look Like Right Now In Greece's Syntagma Square -- And The Main Protest Faction Has Yet To Arrive

[Jay Howard Smith]

There is that word again ..... Unexpectedly .. !

[TADSLOS]

Unexpectedly unprecedented.

[blam]

Weekly Jobless Claims at 471,000 (Higher than Expected!)

Initial Jobless Claims Of 471,000 Are Worse Than Expected, S&P Futures Down 2%

[screaminsunshine]

Wonder if the PPT will have enough money to stop the crash??

[Red Badger]

Unexpected......................

[Red Badger]

PPT?..............Printing Press Treasury?..................

[screaminsunshine]

Plunge Protection Team.

[blam]

Oil Below $68, Gold Tanking Some More

[blam]

Plunge Protection Team

"The Working Group on Financial Markets (also, President's Working Group on Financial Markets, the Working Group, and colloquially the Plunge Protection Team) was created by Executive Order 12631,[1] signed on March 18, 1988 by United States President Ronald Reagan."

[DaxtonBrown]

The jobless numbers were UNEXPECTED!!

[silverleaf]

Read the comment by “Luc” at end of this article

fascinating- be prepared

http://finance.yahoo.com/tech-ticker/article/492036/America%3A-The-Smart-Kids-in-the-Stupid-Class

[ChinaThreat]

Its amazing that this is the place where “civilization” began as we know it. Socrates, Plato and Aristotle and other great Greeks must be rolling in their grave. What do these people not understand about being broke. Complain all you want, it only makes things worse.

Coming to a city near you sooner than you expect!!!!

[screaminsunshine]

Capital drain going up as market tanks. Roll the printing presses. They are running out of OPM just like Greece.

[Red Badger]

So I was right....

Plunge Protection Team = Printing Press Treasury....;^)

[screaminsunshine]

Yep. They buy on huge plunges or after lunch on smaller plunges.

[GonzoGOP]

Socrates, Plato and Aristotle and other great Greeks must be rolling in their grave.

Let us not forget that Socrates was executed for criticizing the government of Athens for spending money that they didn't have. I think he would have no problem understanding the situation they face now.

[silverleaf]

and I think Nancy Pelosi would have no problem sending hemlock to every GOP member of the House

starting with Michele Bachmann

[Red Badger]

Get set for a huge plunge..............