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Domino #2, Ireland, Set To Topple?
The Irish-Bund spread is going nuts on reports that the ECB is bidding up sovereign debt once again, together with a WSJ report that the Stress Test was, as everyone with half a brain knew all too well, a blatant lie, and sovereign debt was misrepresented. Earlier, a report in the FT Deutschland suggested that the bailout of Anglo Irish alone, (not to mention AIB and Irish Nationwide) would be sufficient to threaten the country's solvency. Things domestically are no better, after a poll in the Sunday Independent found that 74% of respondents believed the country would default, and preceded earlier news that Irish consumer confidence plunged from 66.2 to 61.4. The IMF's recent expansion and creation of credit facilities is now roundly seen as having focused on Ireland, but many now believe that it may be too late and a Greek-type rescue is in the works as the second domino is about to topple. Hopefully the Irish will figure out the Ambrose Evans-Pritchard was right all along, and that the time to riot is now if they hope to get the same preferential treatment by the ECB/EU/IMF as was afforded to Greece... Because we all know what the endgame is now.
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Don't worry, Trichet and Banana Ben will print fresh trillions.
Is this a pattern developing here?
Any chart that points up, is a good chart ;)
thats ok now the markets will go back down to 1010
be satick saved, irlenad will be bailed out then the markets will rally
next country starts to topple, markets sink....
rince repeat
banks earn billions from "trading"
In the meantime, the 10YR continues to go nuts. http://www.bloomberg.com/apps/quote?ticker=GIGB10YR:IND
The rate is already not sustainable. Government revenues are less flexible than the market.
not too many Americans even know that we the United States are bailing them out via the IMF. That is what I find disturbing when I solicit the ignorant masses.....
The Irish government said all is well. So we just need to believe that.
The ECB has been banging its people over their stress tests like a sreendoor in a tornado. Back and forth, back and forth.
just default and be damned with it
AS Peter Schiff says the DEpression is the cure not the disease.
Pity the governmnet doesn't listen to Hendry, Schiff and Bill Bonner. Instead they listen to twats like Krugman.
Let them default and get this over with
Ireland set to topple? Ctrl+Alt + 877355irish then hit enter. No more ireland issue. Uncle Ben is on it
But.....but.....but I thought more debt was the answer.
Eh they will keep things going until all those spring 2011 bonds come due..then there will be the troubles.
Itish Banks have to roll €30bn this month.
Serious Economists are proposing to let Anglo (bank) default
http://www.irishtimes.com/newspaper/opinion/2010/0902/1224278050364.html
Interesting Discussion
http://www.irisheconomy.ie/index.php/2010/09/02/lucey-on-anglo-loss-shar...
Yes.
I have read both.
They are at a wake.
It's an Irish thing.
Yes.
I have read both.
They are at a wake.
It's an Irish thing.
Yes.
I have read both.
They are at a wake.
It's an Irish thing.
Nationwide have issued 4 BN to themselves..
Story here: http://www.irishtimes.com/newspaper/finance/2010/0908/1224278447479.html
I forget. What is in the Leprechauns pot at the end of the rainbow....CDSs or CDOs?
They would probably prefer to go the Icelandic route if they were not so close to England.
From the looks of eur/chf, money is flowing like a river out of euro banks, perhaps a raging river into Swiss accounts. I love the smell of euro bailouts in the morning....
So, anybody short here AngloIrish and Irish Nationwide ?
You can't short either.
Anglo Irish has been nationalised.
INBS is a mutual (not quoted).
Bennie boy is going to need a bigger chopper
So, what's the trade for us peons here?
The trade is fiat dollars for gold & silver. You had to ask?
Precisely because peons have no other viable alternatives.
Guinness, bitchez!
Murphy's!
Commuters Walloped by Strikes in France, London
http://www.cnbc.com/id/39034442
Yep, things are about to get interesting again. I wonder if those SP and IWM Call Options I bought last week are finished going up?
Not to worry. An English investment banker explains it all.
http://dailybail.com/home/british-tv-silly-money-bird-and-fortune-satirizing-the-finan.html
This chart is the same view my girlfriend has of me- just after getting up and looking back over her shoulder at me each morning.
R.I.P. EU and the Euro. R.I.P. socialism.
It would be great if Tyler included instructions for Bloomberg equipped readers to recreate the charts he posts. Maybe he doesn't wish to dilute the intellectual capital - but I, for one, would greatly appreciate the information.
its usually possible to work it out from the command line at the top. get creative. constructing the 2s10s30s index was a fun one...
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DOW/S&P500/FTSE/EURO short signal continues:
http://stockmarket618.wordpress.com
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