Global Markets Plunge as the Reality of the Trans-Atlantic Bankruptcy Overshadows Bernanke's Antics!

• Global Markets Plunge as the Reality of the Trans-Atlantic Bankruptcy Overshadows Bernanke’s Antics! 
  by http://larouchepac.com/
  Following Bernanke’s clown show on Wednesday, where he pontificated on the clinical difference between “tapering” and “tightening,” the world markets reflected the obvious fact that the Fed has no idea what to do about the state of bankruptcy of the entire western financial system — in fact, it doesn’t matter what the Fed does. The system crashes whether Bernanke tightens or not, because the system is thoroughly bankrupt. 
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  All markets were roiled for a second day, with stocks and bonds both falling simultaneously everywhere, currencies crashing against the dollar, and capital fleeing out of the developing sector. One estimate says $2 trillion in global equity has been lost.
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  Bloomberg reports that the benchmark index of global equities fell the most in 19 months, and bonds fell around the world. The DOW, S&P, and Nasdaq exchanges in NYC were all down over 2%, creating the biggest two-day drop of the year.
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  Ten-year Treasury note yields rose nine basis points to 2.44 percent, the highest since August 2011, as rates surged from New Zealand to Germany. Emerging-market assets fell, with India’s rupee and Turkey’s lira touching record lows. The S&P GSCI gauge of raw materials slid 2.8 percent, the most since September, while gold and silver futures closed at their lowest levels in more than 2 ½ years.

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