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Whats the possible end game here. Debt restructuring for all of Europe? Where do we think this road ends.....??
These people know the end-game.......:
Bankers take haircuts? No way the end game is the the Fed coming enforcing 5 year rules for selling equities,permanent ban of short selling stocks, mandatory 401k contributions similar to social security and if needed them coming to your home and selling your dvd collection on Ebay for your own good and the stability of the state.
Sounds crazy right. About as crazy as the fact that in 1913 the average personal income of a U.S. citizen could purchase 277 boxes of cornflakes with their weekly salary.
In 2009 they could buy 208 boxes of cornflakes wit their weekly salary but it does not end there since that 208 boxes is based on no income tax. Considering income tax we are now at 167 boxes of cornflakes.
This also does not include such popular taxes in modern day america as:
* Property tax
*State sales tax
*New MTA .375% transit tax
* Water tax, school tax
This is prosperity? We make less than we did 100 years ago and only the nominal number has changed.
Very nice stat, thx Mr McCloy. Personally I got rich by skipping breakfast.
Do these bankers know what assets the ECB invests their Euros in? The same ones it uses to create them in the first place?
Exactly, the ECB is becoming a clearing house for the interbank market. Nobody wants to take the counterparty risk, so they use the ECB as an intermediary.
The euros are being stockpiled to exchange them for dollars via the fed's swap lines.
"Currency Wars". A new board game by Milton Bradley.
This should be good for a 200 point rally.
Only another world war or similar scale response to some massive society-threatening natural disaster would be able to convince the skeptical public to spend enough to fulfill the Keynesian stimulus work order. But wait... we have the makings for both of those already! Perfect!
ZH is like drinking from the firehose.
I'm short EURUSD to the tune of $100k via DRR and I can't decide whether to leave it there or not. (Sorry I'm only leveraged 2x - I can't run with the big dogs).
same here, I'm sticking mainly because I'm an undisciplined trader and I guess I have faith that fundamentals will win out over interventions, eventually . . . hopefully before my survival rate has dropped to zero.
Alpo, good morning.
You have bigger balls than most, having that kind of dough in a somewhat illiquid stock. Seriously, best of luck.
I thought these numbers indicated the amount being deposited with the ECB in their overnight facility? Tyler?
The EURO breakout I suggested yesterday, has made its move ...
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