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Print this. TYLER 599gtO. Yep
intangible assets, a.k.a bullshit.
"€262 billion in Euro bonds on.... €10 billion in tangible equity!"
Capitalism - the 'wealth creator'.
The only thing capitalism creates is debt and misery - and right now it's moved into a brand new paradigm. State sponsored debt and misery.
Real question is why does it come as a surprise. The capitalism we have now is the inevitable consequences of its failings. A lot that post here probably think a return to free market capitalism is the solution. But history teaches us that, that failed about 100 years ago.
According to Mises fascism is one of the branches of socialism. It has nothing to do with capitalism!
insert - corporo-gubment indoctrinated 'cry defending capitalism' comment here..
Mussolini defined fascism as merging of corporations and the state. And that’s what we have now.
Where does one get his hands on some ASSgen CDS's then?
So I should BUY this with both hands and feet right?
After all its all unicorns and roses now no?
While everyone is looking at Spain...This is the big one, before UK, and cross- Atlantic. End is in sight.
And thanks to ZH's Early Warning.
Didn't ALL the Italian insurers just pass the "stress tests"? Lol!
sometimes you ve got to accept that some stocks are overvalued and will go up up up so you have to buy buy buy... boooyahh!!
Am gonna short this sucker all the way down to zero bitcheZ!!!
""Time to Abolish Congress and Replace It with Mass Internet Voting on the Issues"" ...
yes, the contagion is finally spreading and investors are realizing that the PIIGS are the problem, its the banks and insurance companies that failed to build enough capital the last 2 years and held on to too much cr*p that isn't marked properly that will drag the market down again
You seem to forget the fresh liquidity injections our "preffered" European banks received during QE2. These preffered banks would never do a thing like blow up other banks filled with toxic debt so they can buy them for pennies on the dollar with central bank backstops on all the losses.
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