MSM: Global sell-off shudders markets as euro plunges to 8-month low amid fears of debt default

(DailyMail) – London’s top stocks lost another one per cent today as worries over US and European economic health sparked a sell-off for the second session in a row.

The Biggest Bust Will Follow the Biggest Bubble

Our “Crash Alert” flag goes back up the pole…
October is almost half over. Will we get through the month without a major sell-off?

A Dollar Rout Or More Bernanke Trickery? – Mike Whitney

Consumer credit is falling fast. In July, consumer credit plunged by $19 billion, followed by an August drop of $12 billion, a 5.8 percent annual rate. Credit card spending decreased by nearly $10 billion in August, while non-revolving debt, including auto loans, fell by $2 billion. Credit has shrunk for 7 consecutive months, the longest period of decline since 1991.

Video: Peter Schiff Vlog – Stock market sell-off phony recovery and Japan’s election

September 1st, 2009

MSM: China loves Blackstone’s ‘American Dream’ – 5-28-07

And Buffett warns about ‘selling off the farm’ to feed our addictions

Remember America’s so-called “ownership society?” Oh, you forgot that political rhetoric? Well, China didn’t. It’s cashing in on the “American Dream.” Why? The country is tired of lending us megabucks to fund our mega trade deficits to indulge in our mega out-of-control addiction to their “stuff.”

Dollar plunges after record rate cut by US Federal Reserve

In the two days since the Federal Reserve Board cut its benchmark interest rate to a record low range of 0 to 0.25 percent and announced that it will supply an unlimited amount of liquidity to near-frozen credit markets, the US dollar has fallen sharply on world currency markets. The panic sell-off of dollars is an expression of falling confidence in the solvency of US financial institutions and the credit-worthiness of the American currency, and mounting fears that the recession that began with the collapse of the US housing and credit markets could develop into a full-blown depression.

MSM: Cramer – Get Ready for Another Black Monday

The Dow lost 2,000 points this week, making it the worst sell-off since 1933, Cramer said. He doesn’t think we’re done, though.

Today’s late-day rally brought us too far too fast, he said, and bottoms rarely happen on Fridays anyway. Main Street isn’t paying attention, they find out what happened over the weekend, and then Monday they start to sell.

Asian stocks plunge on fears of global recession

TOKYO (AP) — A meltdown in confidence strangled Asian stock markets Wednesday on accelerating fears that the widening financial crisis could spawn a global recession.

After a miserable day on Wall Street when the Dow Jones industrials lost more than 500 points, investors from Tokyo to Mumbai, Seoul to Sydney dumped shares in a broad regional sell-off.

Anxious investors in Tokyo sent shares into a free-fall, with the benchmark Nikkei 225 stock average plunging 9.4 percent — its biggest drop in 21 years — to 9,203.32, a five-year low.