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That should be good enough reason for GS "to try" and get the right way round now its rolled over its 1K upside down S&P Big ones.....
The reporter who broke the story is Angela Merkel . Can't have the Euro over 1.20 now can we?
Fucking Draghi. The man singlehandedly pushed Italy to were it is now.
former Goldman man--disgraziato!!
THE GOOD, THE BAD...:
Ha!... All of PIGSHItaly is ugly!
Gotta love Tuco. Good thing I was there when it happened Blondie. One of the best movie bad guys ever.
concur. I liked Simon Phoenix too
Ah, this looks like a good reason for the algos to go add another 100 points on the positive side of the dow, don't you think?
GS to BB ..need conveyor belt between stock exchange and print press. Please Hurry.
Z1 just released.
Not good... -$202B(q2q) for Q1 2010 at $52.126T from $52.902T in Q1 2009. Credit system is collapsing.
Which table are you looking at?
Just looking at the summary table, it demonstrates what commentors here have been pointing out for months - private debt is down, public debt is growing.
Obviously not sustainable, but net debt is still growing, feeding the exponential equation.
Total credit market debt.
Total credit/debt is being destroyed at an -$800B annualized rate.
2007 Peak : $4.7T(quarterly rate annualized)
2008 Unable to expand at rate needed ($2.589T)
2009 Started collapsing....($-261B)
2010 Continue collapsing... ($-808B Q1 annualized)
.... eventually liquidation
You are correct though, without the Federal government you would probably be sitting in Mad Max right now, without their debt creation it would probably be negative $2T if not much more. Eventually they will be flatten by the oncoming train.
"You are correct though, without the Federal government you would probably be sitting in Mad Max right now"
I would love to see some of these guys "Face the Wheel" !!
Most will face their own personal "face the wheel", as we all will.
Maybe is not only europe..
Lovely. Have a happy Weekend, everyone!
As an Italian and a ZH lover, I completely agree on Draghi. Former Goldman man and people here don't know that (most don't) and I can't stand him, as a person as well as a bank thief. About time to pack and move away, at last (considering I am 31)? Best wishes to all ZH readers, writer and to TD!
So some Italian fat cat more or less asked for a ratings downgrade so their interest rates can skyrocket? Was he lubed up with a few too many Cinzanos, or was this headline just taken out of context?
That's ok, today we have 200 DOW points we can give them to help them pay interest. Bernanke, quick, to the chopper.....
Below 1036 (ES) would be better now GS is the right way round after the fun a games
they had to play with the Big SP Contracts.
" Bank of Italy Director Salvatore Rossi, speaking before Senate hearing, said Italy’s interest payments on debt were subject to great uncertainty and that a 1% rise or fall in interest rates on debt maturing from 2011 would cut or hike the 2012 deficit by 0.5 percentage points"
Looks like this headline caused a haircut on the Euro. Good.
There are no shortage with paper, paint and electricity.
Now THERE is an idea, the USA could default on the INTEREST payments to the private member owned Federal Reserve. That sounds like a good plan to me.
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