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European Debt Crisis Cheat Sheet
Even as an ironic major snowstorm blankets most of Europe, the upcoming week will likely be one of the most heated in European history, as the untenable debtload of the periphery becomes increasingly irrelevant and more vigilantes start looking first on Belgium, then Italy, then all of the core (at which poin the EFSF will have run out), then finally America. Which is why to assist our readers with a one stop shop for all the relevant sovereign debt metrics out of Europe, we present the following exhaustive cheet sheat that covers all you need to know and then some on how the European collapse is likely to play out.
And total debt associated cash flows per country.
Via Nomura
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Your avatar is a flying pig....so you are being sarcastic, non?
In case not, just listen and absorb the barrage from Nigel Farage of Nov 24 that is going viral on Youtube.
Seriously, you believe this crap? You know they are lying to you. That is why some people are keen for the demise of the Euro, so that justice and truth prevail.
Well the Euro is dead. The dream of a european super state will die and go in the dust pin of history when Spain is next.
"I before E, except after C"
got that there, doomer?
Listen stupid clown you either have great sarcasm or just naive. Tell me this how will the EU bailout Spain when the current bailout will run out after bailing out Portugal? Will they print more euros but risk devauling the currency. You sir are blind of the collapse of the euro and the deflationary consequences coming along. Plus the dollar is not safe,at some point interest rates will have to rise. By 2015 our national debt will be 24 trillion. How will we continue spending on wars,military bases,entitlements,and many other things with out paying this money back? Let me guess your a Boobus Americanus cititzen. "The rules of economics and histroy do not apply to us!! We are America!!." The dollar will collapse under debt in the next decade. I diasgree with many who say a dollar collapse in two,three,four years away. It will be 10-15 years from now. You do not understand what will happen when the euro debt crisis will spin out of control and collapse.
The ECB will print more while demanding that Germany and the UK raise taxes on their citizens. The Irish will default on the loans and the IMF will take control of all land in Ireland.
The Fed will print as many dollars are necessary to buy back any foreign held debt while the Federal Government will continue to pretend there is no inflation. When OPEC stops taking dollars for oil, the US will establish price controls in the US oil and celebrate the resulting reductions in carbon emissions.
The resulting revolts by 5-10% of the population will result in re-education camps for the "domestic extremists" The rest will just be happy to get enough electricity to watch dancing with the stars.
The ECB will lack jurisdiction in "demanding" anything. Certainly from the UK which uses its own sovereign currency and is outside of their remit.
HTH
Relax, it's Johnny Bravo taking time out to share the latest lesson at the special school he attends. He knows all the important stuff and wants to show us.
Rising intrest rates = smell of smoke in The Bernanks funhouse. Don't yell "fire" just walk to the exit, if you can find it, maybe over behind the maniacally laughing zombie or the hall of mirrors.
The flag has the 12 stars on it, representing the 12 tribes. Don't count it out just yet. It will last, because it is written.
You see 12 tribes. I see 12 colonies, with several cylon basestars about to appear. Probably won't be pretty. After which, they may follow the rising sun, or go hunt for the 13 colonies.
13 Stars
Super state ? That is the whole point of the Euro, its severed from the nation state. It is truly a world reserve currency. It is capable of replacing the dollar.
Don't kid yourself, there is allot of US states like Cali and Ili that are in just as bad of shape as Greece.
O/T (or not)
http://english.yonhapnews.co.kr/
SEOUL, Nov. 28 (Yonhap) -- South Korea's military ordered civilians on Yeonpyeong Island to evacuate to shelters, military officials here said Sunday, as signs of North Korea's artillery firing were spotted.
The military industrial complex is probably giddy with excitement over this one.
The Europeans just can't make up their minds is their problem. They didn't get very far down the austerity road before they realized that all their banks were doomed and started trying to bail them all out in a panic. But then Germany says it doesn't want to bail out the entire European banking system, and so they all panic again over how the other states can possibly borrow enough to bail out all their oversized banks. Running about circles like chickens with their heads cut off.
Socialists running out of pockets to pick!
http://www.reuters.com/article/idUSL3E6MN0SQ20101128
(Reuters) - North Korea has placed surface-to-surface missiles on launch pads in the Yellow Sea, Yonhap news agency reported on Sunday, as the United States and South Korea began joint military exercises.
http://www.youtube.com/watch?v=CgnGn-fwfGU&feature=player_embedded
Fuck, those SK protesters are the most grimly serious I've ever seen. There was one guy firing a heavy duty pepper spray canister at the police. On the other hand the SK police didn't really seem to have a big emotional investment in beating down the protesters. Sympathetic maybe?
- that had to be staged, or that's one of the most pussified confrontations i've ever seen.
http://www.youtube.com/watch?v=qUO8ScYVeDo&feature=related
The 5 point plan to US Economic Recovery
There will not be a US recovery, until banks go bankrupt (pun intended), politicians (male or female) grow cojones, those who broke laws and violated the constitution go to jail and the justice system, liberty, freedom and responsible government void of lobbying punks returns.
Hence, never.
Peak freedom...starvation coming back in a big way.
Remember my warnings.
U.S. Treasury Secretary Timothy Geithner, at the Council on Foreign Relations, said the U.S. is "open" to a proposal by the governor of the China's central bank, which was widely reported as being a call for a new global currency to replace the dollar, but which Geithner described as more modest and "evolutionary."
http://www.youtube.com/watch?v=ds_qGXbxK-4
http://thewapper.wordpress.com/2010/11/26/portugal-ordered-to-apply-bailout/
This is why i read zero hedge.
Any article with comments worth its salt ends up with people talking about gold....
the gold bear above with the baby icon is more of a yankee red-reck that the types here that drone on about guns and bullets.... as if they could pull the trigger.
Tom Berenger in Platoon - 'Death? What you all know about death?'
i digress... the baby icon guy neglects the fact that Bush's wars have fucked the USA and china and india have the advantage - and they love gold.
the US$ is not loved anymore and the lying arabs would replace it at the drop of a hat.
at every turn the chinese drone leadership has outwitted us and the sooner we accept the danger the happier we'll be.
and we can try and fix things.
pretending the US$ is bulletproof or your six shooter will save you is the sort of nonsense and dumb thinking that got us in this shitstorm in the 1st place
"yankee red-reck"
Now now,
Please don't insult the rednecks. Us rednecks holed up here in the south, where it's safe, and hot (but it's a dry heat....sort of...not really...pretty humid mostly....fucking sucks in the summer). There are also many nice women. I could go on and on.....
Yankee's live in the cold climes northward and are assholes, except for the nice ones on ZH that don't want to get our damn stills. Cause that's just not cool. Might get shot trying that.
Yeah, I've been running my still tonight :)
Guns? What you know about guns?
Also, your avatar will not save you.
I would write more nonsense, but I'm busy greasing my 20 shooter.
Enough to know not to call them that, they are Weapons.
"while the subject of this paper is silly, the analysis actually does make sense. This paper, then, is a serious analysis of a ridiculous subject, which is of course the opposite of what is usual in economics." -P. Krugman
...for what it is worth lol
A dose of reality: True News: The Death of the Euro
and .... The extent of the protest movement in California: 'California Dreaming' (check the disgusting cynicism of Bank of America at the 6:00 mark!).
(The full 'California Dreaming' documentary is freely available for download here).
Fantastic linky-post. Thank you Dog. :~))
The people are starting to spit out the kool-aid :
http://www.independent.ie/national-news/default-say-the-people-2439331.html
Would be interesting to see these charts redone to include the same stats for the US and Japan, alongside the EU. It's not all apples to apples, but close enough in my mind.
Nice stats indeed. But these stats unfortunately are the Kool Aid -stats ie. done according to the Eurostat criteria. Much more relevant stats would include the off balance sheet items. For example in Spain those items include roughly 50bn sovereign debt held by the social security fund which does not show up in Eurostat debt/gdp-metric, pending payments accumulated by all levels of government (central govt, autonomous communities, municipalities...), debt accumulated in state owned companies etc. These are the same smoke and mirrors tactics that the opposition in Portugal warned about.
AUSTERITY for AMERICA.........this would be fun on TV:
http://www.cnbc.com/id/40378597
http://www.youtube.com/watch?v=Yjr7NtntWeQ
The scams and schemes of the artful US and UK Dodgers
The reality is that Ireland has long been a so-called Tax-haven for Tax-dodging multinationals like Google (2.4% tax in 2010) ,Apple and Microsoft and other art-ful tax dodgers and it is about high time that this unfair bullshit is going to stop!
Why should this criminals be allowed to exploit slave labour in China and India for i USD a day per child-laborer and then sell it at fucking thousands of times profit-margins and then dodge Taxes on those highway robbery profits ? 40% of the Irish population have never paid any Tax on their income and I have to listen to fucking Idiots and fools shedding crocodile tears about AUSTERITY ? ...fucking Pay your fair share of Taxes and wages to Workers,everything else is just another scam.It is about high time this sheit is going to stop!
If Ireland does not want to collect Taxes due, from free-loading US and UK corporate criminals, then let them be bailed out by their US and UK Tax-dodgers.
because this corrupt tax-avoiding scam has got to stop:
Ireland defends corporate tax haven
Posted November 16, 2010 1:08 PMFrom the Editors
From the Guardian: "Ireland last night insisted it would resist any pressure to ditch its ultra-low corporate tax rate – which has persuaded major companies such as media group WWP to move their headquarters to Dublin – in return for an €80bn (£68bn) bailout by its European partners.
"In a speech in London, the Irish trade minister Batt O'Keeffe insisted a rise in the 12.5% corporation tax rate – the lowest of the major eurozone countries – was not on the agenda for the debt-laden country.
"While Ireland is fiercely fending off any rescue package, there is speculation that a rise in corporation tax could be demanded by countries such as Germany which fear they are losing business because of the country's low tax regime. Germany's equivalent rate is 29.41%, according to data compiled by KPMG.
"Elmar Brok, German Christian Democrat (CDU) member of the European parliament, told Reuters: "Ireland has two options to consolidate its budget – cut expenses even further or increase taxes like the corporate tax rate.""
http://www.freedompolitics.com/news/corporate-2193-ireland-tax.html
Belgium is broke, economically and politically...southern part of the country, Wallonia, is pathetic.
The Europe is on the edge, and unless the ECB pulls the same trick like FED, BOE, BOJ and prints some money and buys debt, Europe will fall.
Soon after, counted in minutes, the world markets will crash.
The future is bright!
Mission Accomplished.
Everyone is a debt slave!
http://www.opencongress.org/bill/110-h393/show
I am worried about my children and a draft, he writing is on the wall.
By the way how do you mistakenly turn your cannon to fire multiple shells on a DMZ?
Put your seatbelts on folks, their are several black swans flying over the pond this week.
Some crazy bugger will shoot one down.
UK's triple A is bogus in collution with the US triple A which is also bogus as we all know.
UK's situation has changed dramatically now with the Irish situation so could be next on the financial markets hit list.
Next?? Before Portugal, Spain and Italy??
I don't think so, but if the UK govt is smart they will start to announce extra cuts and asset sales before they are forced to.
http://www.bibleprophesy.org/goldsilver.htm
http://www.bibleprophesy.org/goldsilver.htm
http://www.bibleprophesy.org/goldsilver.htm
It will start in Austria, a Domino Effect will Spread Across Europe just like in 1931. The end result will be collapse of the entire banking and financial sector of Germany , putting a end to the EU\ NATO apparatus.
Very OT, but I'm waiting for the day that I try to get on ZeroHedge and I get this instead:
http://thehill.com/blogs/hillicon-valley/technology/130763-homeland-secu...
Yup, saw it on Drudge. Scary that they believe they can be like the Chinese and restrict information flow. They start with P2P because most don't care. Fox News, MSNBC and sites like zerohedge and infowars will be blocked eventually.
Don't all shout at once...
"Forget the dollar and gold, here are the real safe havens Contemplating eurozone disintegration, renewed hostilities in Korea and an anti-inflationary clampdown in China, investors' default reaction has been a time-honoured retreat into the perceived safe havens of the dollar, Treasuries and gold. I'm not sure this makes much sense."
- http://www.telegraph.co.uk/finance/comment/tom-stevenson/8163647/Forget-the-dollar-and-gold-here-are-the-real-safe-havens.html
I agree about dollar and USA treasuries, but the Gold makes lots of sense.
And if the currency in which these investments are denominated experiences a major devaluation that doesn't count as a loss as long as, by god, we are getting a dividend?
There is no sure fire investment that will maintain purchasing power with this monetary system (gold comes close given enough time). Blue chip companies don't exist in a vacuum, unaffected by the travails of the people who work there, buy their product or the political whims of the idiots running the gov't. More wishful thinking, imo.
For those who have made it this far, I present some Sunday morning tunes. There are some artists that were new to me that I've been enjoying greatly (Abdomen Burst for one) and some tracks from artists folks have told me they want to hear more from. Without further adoooo
exhale (a playlist):
http://www.youtube.com/view_play_list?p=BC8D4475D9DA7B4D
Thanks for posting these, Steak. I, for one, appreciate the unique contribution. Cheers :-)
much thanks for your kind words :)
you'd be the man, steaky, boogie woogie.
David Stockman on CNN/CCCP this morning,
"As an investor, I would buy gold, beans, bottled water... anything Bernanke can't destroy."
Looks like ZH is going mainstream. Some of these dudes are getting it.
In a stark contrast to what you saw, I saw David Rosenberg on a PBS show this morning and while he was bearish and deflationist as usual I was stunned by how rational he made Bernanke and the Fed sound. He was not nearly as critical as I have seen in some venues.
What I have come to realize is that folks like him tone down their message so that they will be invited back and not labeled an "extremist." My guess is that part of the problem with getting the word out there is that the messengers, when they get the soap box, do not feel totally free to speak their minds. Creepy.
so what your saying is, PBS will unlikely ever have Max Keiser on, to discuss current affairs or his buy a silver coin and BK JPMorgan Chase. Darn†
Creepy?.
No, to be totally expected.
100% Soros, Progressive(100% Socialistsa programming, and news.)Just like NPR.
When you dump Juan Williams as too conservative, you KNOW what your dealing with.
May as well be labled " THE US MARXIST NETWORK".
sponsored by the bastions of capitalism exxon, bp, etc
Belgium is named more and more as the next domino (even before Italy). They have an upcoming auction tomorrow (29/11), let's see how it goes. Between 1.5 and 2.5nb€ is on offer.
Is buying Euribor puts, not a fabulous idea right now?
@goldsaver. Interesting. Thanks.
Thanks, but I bloviated a lot. What did you find interesting?
The problem with the EU, and especially PIGS is that they were spending too much even before the depression. Greece's debt didn't suddenly magically appear as a result of a recession. It was already there, it just became fatal when the economy went south. The problem for the EU isn't just an economic downturn. If that was the only problem, some stimulus spending could arguably be the answer. The problem for the EU is debt combined with a flat economy.
http://www.financemetrics.com/european-debt-crisis-means-continent-is-on...