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Irish Bonds Plunge: New Bund Spread Record As Euro Pushes Ever Higher; Ultraviolence To Follow?
The market is once again getting plain retarded. One look at what is happening in Europe should be sufficient for every self-respecting investor to throw up all over this bullshit and quit the business forever. 10 Year Irish bonds have just hit an all time wide spread to bunds of just over 480 bps, a jump of 100 bps in a week, as Irish bonds are essentially bidless. And as this is happening, the EUR is pushing north of 1.40, and stock markets everywhere are gunning for new 2010 highs. This is the kind of central banking-cum-centralized planning garbage that can make people plead insanity after a period of brief ultraviolence.
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Ben to announce that the FED will be buying Irish and Greek debt tmr?
FULL RETARD BITCHEZ!!!
Ultraviolence on the way!
Probably a little of the old in-out in-out as well.
Yes, a bit of the old ultraviolence....
They did have some wild parties in the film.
Well, we all know why. The market is driven by central bank rates and QE. Nothing else. Since many, many years.
I'm not surprised that this "phenomenom" is occurring. What is surprising is that the people have not begun an uprising!
Wake me when Europe matters to the others.
I LOVE IT!!!!
Long live Zimbabwe Ben. Until we string him up with the rest of them, that is.
Good droogie.
What's not to like?
What's that graph for?
Sorry, didn't mean to distract with the graph. The map came from an "airline" site, so the graph merely indicates the price of airline tickets.
My goal was to illustrate the physical proximity of Ireland to the Icelandic volcano (and this was the best map I found to show Iceland<==>Ireland after a quick search). This is not a small issue, and Ireland will catch quite a lot of the economic "brunt" from the eruption.
Over 4k for a ticket to Inverness but only 200 to London? What kind of fucked up airline is that? I am intrigued.
http://www.skyscanner.com/flights-to/is/cheap-flights-to-iceland.html
I blame all those Yanks on Zero Hedge ,trying to prevent us from bullshitting out of this sewer.
www.youtube.com/watch?v=phcO1wkDHJs
And who could forget the Brits
www.youtube.com/watch?v=k3L0B2At_W4
And finally the church
www.youtube.com/watch?v=2PIV2UB-raw
A. To illustrate the how far and wide the interwoven matrix of risk is dispersed.
B. To show you haw fucked the EU is.
C. Illustrate why a cheeseburger in Dublin is going to cost 42.50.
D. Can't tell from the information provided.
Cheeseburger in dublin? In Paris you call that a royale with cheese.
That's a quarter pounder.
One of my favorite movies....
Check out the big brain on Internet Tough Guy!
Higher yields backed by the ECB...these are not the druids you are looking for
They should get their central bank to print up some money so they can just buy that debt and drive the price up. Oh, wait...
It's all powering higher... until we reach the black hole.
At some point the downturn will start again, and this time around they'll need to print so much more money to keep the illusion of normality going.
In the meantime I'll keep stocking up on PMs and cheap food.
I prefer to look at it another way.If we know things are this bad in Euroland and the Euro is rising vertically against the pound,how bad are things in the UK economy!!!
The forex market is telling you a basket case currency of a self destructing melee of bickering bankrupt states is worth more than sterling,whose economy you hear very little about.It gives you a warning of the quantitive easing and financial collapse of the UK to come,which make the problems of the Eurozone seem trivial in comparison.
It boggles my mind that the Euro is still together. I got killed in a EUR/CHF short, and I could get killed again in a EUR/USD short. So I'm looking for rationale to explain my repeated failure...
It incredible to me that the PIIGS can take the strong ECB policy, and conversely that Germany is willing to sponsor their membership through ECB sovereign debt purchase. I expected governments to be thrown out of office and the Euro to split. That may all turn out true, but it looks like the Euro can stick around longer than I can stay solvent.
In Europe (I live in France), we have even more old people than you. They are usually living the landlord way, because they could buy cheap real estate back in the 1970s.
And this kind of people doesn't like change. So if there is a change in Europe, it won't come from politics and voters. It will be a forced one.
Noticed we had the same avatar so I changed mine.
Good luck on the short
You made me think of that Telegraph guy who made a living of announcing the demise of the Euro.
Yet the causalities behind a strengthening of the EU was stronger than the causalities leading to a weakening of the EU.
See, France and UK 've just furthered their military cooperation and France and Germany have announced a a modification in lastest treaty to allow economical governance in time of crisis (crisis in governmental lingo meaning anytime they deem it right)
Substituting reality with ones wishes can end by being destructive.
You are definitely right about substituting one's wishes for reality, and it's clear I don't understand the reality.
The modified treaty and the joint defense pact don't surprise, but it has been my impression that the European political class holds a vision of 'One Europe' that the citizens of the countries involves don't agree with. I expected the decision to be taken out of the hands of the Euro-philes by the citizens in each country.
Oh yes, some of that old ultraviolence!
Now where did I park my Durango 95?
Merkel circle jerkel sez: We'll bail you bad boys out this time but next time we'll make everyone share the pain. Yeah, right. The only way the bond holders take a hit is if they are all owned by the pension funds and none owned by the banks. Lube up Angela.
In all my time of watching the markets and news I don't think I have ever felt quite so strongly that 'something' unexpected is going to happen. Something that is going to take everybody by suprise.
It just doesn't feel right.
I think an lot of people around here are expecting the unexpected....
There is a dire need for a major crisis/distraction.
Prosperity through printing !!!
Yes, But the market is up. Please explain. Shouldn't the market be down? Im an intrigued and confused scholar.
Logic is beautiful flower which smells bad. [/spock]
Election Day erection? I dont know, always SOME reason the bullshit markets are up and cant be down.
If something is unsustainable, it won't be sustained.
Very poetic. Does Hal know about this ancient proverb?? I didnt think so. Rally on.
computers have no idea where Ireland is ???? Just buy NFLX, CMG, AAPl, BIDU, or PCLN rinse and then repeat...
Yep, euro still ploughing on regardless and my shorts have went thoroughly under water too; who says the markets' always right??(someone has to be) There must be an Irish auction comming up, maybe they were trying to keep it under the radar or something.
There is a headline just in that Irish deficits were "only" 14bln for october!, too funny.
Fed may disappoint EUR longs.. Not sure though (of course).. I'm looking to short EUR/USD very soon..
So what happens after default?...I wanna bet on that. people will still need toilet paper...(arkansas excepted)
There is no question that violence will one day hit the streets of America. Once austerity programs hit our shores and entitlement programs are cut, the dog will bite the hand that feeds it. Just look at the World Series mob attack on a car last night in San Francisco. And to think - thier team won!
http://www.ktvu.com/video/25602908/index.html
All buying time, the big shell game. It would appear that "they" are pretty good at it, eh? Ireland schmireland son, keep your eyes on the walnuts, see, the pea is right here ...
If you stopped worrying about the future and went long with leverage, you would be sending boxes of chocolate to the Chairman instead of being miserable in your discontents ...
What would be most entertaining is EURUSD at 1.50. You can make the case on a REER basis.
Personally, I think the CBs are trying to maintain a tight range, but again, no one is bigger than the markets in the long run (yes, when we're all dead too).
All the smaller periphery countries are getting hit big time. ECB interventions making no difference atm. Starting to see weak price action in Spanish bonds during the last couple of days too. Can You see big headlines? Panic? Something? Of course not! What You can see is equities chasing new highs courtesy of the assumed black hole Benron will provide tomorrow. That's gonna save us all, right...
G-Pap hitting wires saying Greece 2009 budget deficit may be 15% of GDP or more. That's gonna give some extra kick for european equities for sure. Just wondering if the revisions to those Greek numbers will never end. LOL!
European, well I'm a poop'n.
Europe = US (roughly speaking in GDP terms). Therefore PIIGS = California, Germany = Texas.
Can't wait for the Germans to start pushing for the right to bear arms.
Like clockwork, cycles. Unstoppable.
Get your droogs in a row.
The whitest of white nations (Iceland) was picked off first.
A black as black can be nation (Zimbabwe) was sinking right about then.
Now, they see... people will protest, mostly mildly. Game on. For some reason, the future of the anglo-saxon world is not looking particularly bright right now.
St. Petered out?
ORI
http://aadivaahan.wordpress.com
Angela Merkel's new attitude towards eurozone defaults is very interesting..
..That and the jellyfish population explosion :)
We are entering the new era, a world with few fish, default|monetary/fiscal-responsibility in europe and a repatriation of the now defunct world reserve currency, the once mighty USD
disturbing
Viddy well, little brother. Viddy well.
In a world economy where bad is good and "not as bad as the market thought" is the driver of price action I would have to agree with Tyler. As a trader I know this feeling well. True fundamentals have long been thrown out the window and it is simply a game of who can Bullshit the best is he who wins. Intrinsic value???? Please! Faith backed currency???? Please! Buyer/Seller market transaction???? Please! It is not like I don't know a good poker game when I see one but this level of Bullshit would even give pause to Charles Ponzi himself. What ever happened to the Maastricht agreement when over 60% of the countries that make up the agreement are insolvent? This is classified as a solid, faith backed, currency of a sound fiscal European nation, with sound fiscal policy? Fraud and rulelessness is running rampant and I have to wonder "what can possibly trump this"?
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