http://www.dasgelbeforum.de.org/forum_entry.php?id=45732
In den USA berichten Blogger von Anzeichen dafür, daß die Logistik zusammenbricht.
verfasst von Talleyrand , 11.10.2008, 17:01
"....Was just chatting with My Uncle,...He is "stuck", in the Mid-west, (Nebraska?), after unloading, because His fuel card isn't working...Another "unconfirmed" report from Va, Beach area,From a Fishing Bud that resides up in that area.. Truckers "stranded" as Fuel Cards are not/Stopped working..."
http://www.tickerforum.org/cgi-ticker/akcs-www?post=66661
und hier der journalistische Blickwinkel:
"** POTENTIAL ECONOMIC SEIZURE DEAD AHEAD **
... The selloff this afternoon is the "real deal." It was not caused by the stock market getting "mad", it was caused by the short-term credit market along with the Treasury market suddenly dislocating at a few minutes before the bond pit closed at 2:00 PM.
Worse is also the fact that institutional lending has essentially disappeared - both between banks and now it is choking off commercial short-term credit across the board.
It doesn't get any more serious than this. To repeat: short-term commercial credit is threatening to completely disappear from the American scene.
...
In the overnight market the futures are imploding once again; the Osaka exchange was closed in Japan after hitting its "lock limit" within minutes prior to the Nikkei opening; the Nikkei is now down ANOTHER 10%, for a total loss of nearly 20% in just two days, with Japanese banks trading "offer only" - that is, NO BID. There are rumors of government bond market fails in parts of Europe, and Iceland has essentially been cut off from the rest of the world Interbank marketplace.
Japanese banks are now firewalling themselves from European and US claims; the interbank market is about to explode. Iceland has effectively defaulted on sovereign debt and today there was a rumor that Hungary had a failed bond auction, effectively defaulting as well.
...
Please understand - the TRUCKER who has a full load of food headed for your grocer REQUIRES commercial credit in order to fill his truck with diesel.
The local GAS STATION owner REQUIRES commercial credit to fill his underground storage tank.
The local CAR DEALER REQUIRES commercial credit to have cars - and parts - in his dealership. No credit, no car - and no car repairs.
The manufacturer over in China REQUIRES commercial credit (letters of credit from the buyer's bank) to be able to ship those goods to America, where you can buy them. If the bank over there won't take the LOC from the bank over here, suddenly you have no tires, DVDs and other similar products to buy.
IF THESE MARKETS DO NOT IMMEDIATELY UNFREEZE THE CONSEQUENCE WILL BE THAT FOOD AND FUEL, ALONG WITH ALL OTHER MANNER OF CONSUMER PRODUCTS, MAY NOT FLOW TO YOUR GROCERY STORE AND GAS STATION.
...
We have "pumped liquidity" and even bailed out firms with taxpayer money, and yet the markets have not unfrozen.
...
THIS IS NO LONGER JUST ABOUT YOUR RETIREMENT SAVINGS AND HOUSE (although that's important) IT NOW IS, QUITE LITERALLY, ABOUT THE ABILITY OF ORDINARY COMMERCE TO CONTINUE AND ESSENTIAL GOODS AND SERVICES - FOOD AND FUEL AMONG THEM - TO REACH OUR MARKETS.
...
Update 7:30 AM CT 10/10 - Overnight LIBOR has come in dramatically, but 3 month dollar LIBOR has not - in fact, it went higher. This tells you that while people do not believe the market is due to implode tomorrow - an improvement over yesterday - they also don't believe that anything will be fixed in the next few months. Thus, as of this time, the nightmare scenario remains on the table.
8:00 AM - Trading desks (from the forum and a quick check) are reporting agencies being dumped by Chinese holders. Don't be too quick to call this "screw those evil Americans" - this smells like have to sell as opposed to want to sell. LOC seizures mean goods aren't moving which means you have to sell what you can, irrespective of price. Ditto for the price dislocation in the Treasury market. Say goodnight to what's left of the housing market - as I expected would happen - its done.
9:53 - Again, for the second day, no OMO (Open Market Operations) at The Fed. Read this report carefully. Note that there are no Agencies and no Treasuries left on The Fed's balance sheet. All gone. All that is left is $80 billion of crappy MBS. Bluntly, without printing raw money, The Fed is out of Treasuries with which to lend into the market, and thus cannot perform OMO any more; they must do "other things" (like print money.) We are now officially into the twilight zone and Fed Solvency is an issue on the table. President Bush spoke again but none one word about forcing transparency among financial institutions. Raise cash now and be prepared for potential essential good and service disruptions as the supply pipelines could begin to go dry on these as soon as early next week."
http://market-ticker.denninger…C-SEIZURE-DEAD-AHEAD.html
