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Frontrunning: February 24
- Nationwide strike paralyzes Greece, clashes between rioters and Police begin (WSJ, Bloomberg)
- Protests have spread to Spain (El Pais, h/t Paul)
- Dutch snap elections scheduled for June 9 (FT)
- Geithner may give regulator leeway in applying volcker rule (Bloomberg) - Note: Vince Reinhart is co-author of the seminal "Conducting Monetary Policy at Very Low Short-Term Interest Rates" in which the Fed considered buying equities and foreign sovereing bonds
- Reinhart: Bernanke's confidence game (The American)
- Home purchase loan demand at lowest since 1997 (Reuters)
- Does financial innovation lead to economic growth (Economist)
- Iron ore derivative traders bet on tipping point (Bloomberg)
- Martin Wolf: The world economy has no easy way out (FT)
- Junk debt wall to trigger US defaults, Bank of America says (Bloomberg)
- ECB: Greece will need money but less than expected (Eurointelligence, La Repubblica, h/t Paul)
- Hong-Kong Luxury Home Tax May Drive Speculators to Mass Market (Bloomberg)
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Like Greece needing LESS money means anything. That's the same as saying that yesterdays confidence board measure now means nothing since it's down significantly.
What a great photo!! Gotta give it to the Euro youths.....the powers-that-be over there must be starting to get a little worried right about now.
Time for Super Bernanke to put on his cape and fly across the Atlantic and bail them all out.
Get with the program Steve, helicopter, helicopter...
;-)
Yeah. But he can still have a green bodysuit on with a dollar sign on his chest. Maybe a black cape? And the printing press right in the back of the helicopter.
I think Ben's "choppa" turned into a food processor chopping up green shoots.
The brain dead droid officers of the lawjust dont get it--I just love the overhand right--should have been followed with a right kick to the groin.
Welcome to the revolution.
How much money needs California ? Michigan ? Detroit ?
I think the Dead Kenneyds said it best:
Chorus
Riot—the unbeatable high
Riot—shoots your nerves to the sky
Riot—playing into their hands
Tomorrow you're homeless
Tonight it's a blast
"I got nothin' to lose 'cause I don't give a f%$k."
AdRock
That's a good one.
Lorenzo Bini Smaghi, ECB executive board member, told Italian television that it was “possible that money will be needed” to help Greece. But it would be a sum “much more limited” than the figure of about €20bn-€25bn mentioned by Der Spiegel last weekend. He said that the EU needs to be more stringent ex ante and create mechanisms to avoid disaster, (La Repubblica).
He might be right, what he failed to mention is that this money must be given to Greece every year.
More MOPE from the new cover it up slimers----there is no money for anyone period.
http://www.emii.com/Articles/2399505/Banking--Brokerage/Banking--Brokerage-Articles/European-Banks-Face-1T-In-Debt-Rollover.aspx
Headlines
The California Earthquake Authority has filed suit against Wells Fargo over losses it claims it suffered from investing in collateralized debt obligations.
www.emii.com
Anyone see the shitty real estate news this morning? Guess what? Real Estate ETF's are off and running this morning. On some of the shittier news on real estate in a long while.
I give up. I flat out give up. I can't play in a criminally manipulated casino anymore.
Pete, do you mean it? Or are you an addict who is going to go right back in and ask for more abuse?
Not my business, I know.
I got out in 2006-7. I did not take the haircut, though I am screwed a different way (my money is trapped). But it ain't gone yet.
I think they know CRE is going to be bailed out. Shit heads like the Simon group are buying up crap real estate anticipating it. They will buy at lower values, then get bailed out at full value, like the FDIC is doing with forclosed houses on the books of distressed banks that have been taken over.
But just the second you start playing the game with them, they will let it fall because that is what profits them the most at that moment.
If more of you traders quit, they wouldn't have shit to work with.
Just sayin. And I know this is many folk's livelihood and I should probably just shut up.
This is exactly what the Ponzi wants. The scam is that people will finaly recognize it's a hopeless cause to fight the criminals and join in. After all, the top dogs need to sell their crap to someone else, right? Up to now, it's just computers selling to other computers, playing ping pong with themselves. They need the big fish to be lured back into the game so the big boys can cash out.
Steady, steady, hold the line, hold the line, don't shoot until you see the whites of their eyes.
love seeing the words protest, clashes, riots, POLICE. feisty
Time to plan my vacation to Greece....
Down goes Frazier! Down goes Frazier! Down goes Frazier!
Greek strikes are a metavirus that is spreading to other countries.
Who was Joe Stack? Find out now.......
http://www.youtube.com/watch?v=AcIdKWVCQzk
The first rule of Greek Club is you don't talk about Greek Club.
:D
-MobBarley
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