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Frontrunning: July 22
- Every bankrupt bank prepares to pass the Stress Farce, latest one: Bank of Ireland, Allied Irish Said to Pass EU's Stress Tests (Bloomberg)
- The tax tsunami on the horizon (IBD)
- Merkel hails "robust" German recovery (FT)
- BOJ Official Voices Caution on Yen (WSJ)
- British economy set for triple whammy, admits Bank chief (Independent)
- IMF Sees Euro-Zone Debt Hobbling Growth (WSJ)
- Bernanke's Fed exit door now swings two ways (Bloomberg)
- EU Banks May Disclose Sovereign-Debt Holdings With Stress Tests (Bloomberg)
- An exercise in debt sustainability (Morgan Stanley)
- And appropriately, Economists=Idiots? Part 1829 (Angry Bear)
- Fed ready to act amid uncertain outlook (FT)
- CNBC's Dennis Kneale goes native (CJR)
- Bernanke Indicates Added Stimulus Requires More Slowdown Signs (BusinessWeek)
- We're in a one-and-a-half dip recession (HuffPo)
- U.S. Puts New Curbs on North Korea (WSJ)
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End is near, time of revenge is coming, a new society will emerge against exploitation, and will sweep clean mobsters, crooks, plutocrats, and other enemys of the people. Revolution!
Since the Fed is all about the most bizarre, delusional psychological social engineering of Joe - Six -Pack - one can understand why his first "hearing" is at 2pm - to Close. Then see how the "market" ( the barometer of the degree of social delusions) reacts. The following day- having fully incorporated the "Market" reaction - Bennie gets a second chance to tailor his pscho-social engineering messages mor precisely.
Did I get that right?
Double top on mini ES on pre market, absolutely no volume at all. Let's see how it goes.
Well looks like the highlight of the morning maybe maxine waters questioning (i use this term very loosely) bernanke. God, i hope she brings her A game this morning.
yeah - the Water questioning is exactly the moment when you realize why bennie gets paid the big bucks ( ie. to just sit there poker faced and not laugh).
Yesterdays selloff erased with 100,000 ES contracts, like magic. This is one rigged market. NY Fed pushes the SP futures Goldman and JP Morgan piggy back. Gee they sure are smart.
I wonder if Merkel realizes that robust has a big old bust in it's tail sting.
Liar!
ORI
http://aadivaahan.wordpress.com
The Financial Reform bill is nothing but a tax bill....Biden for President
The punchline is that Allied Irish Bank[s] (at least) will probably get an extra government bailout anyway. Our dead-keen new financial regulator has decreed core capital of 8% by the end of the year. More details here. Note AIB's helping hand.
Kneale going Native is worth the stars alone!