Libor Rises Again, As European Jitters Resume, Europe Blasts Moody's Downgrade; ECB Now To Impose 5% Haircut On Greek Collateralized Bonds

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Tue, 06/15/2010 - 08:36 | 414338 jbc77
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What a joke. Now again today the euro is up? Can anyone tell me what planet I'm on? Central bankers must be hard at work again loadin' up their balance sheets full of sh1t ass euro's.

Tue, 06/15/2010 - 08:41 | 414342 Temporalist
Temporalist's picture

Clearly it is Bizzarro world where lying is perfectly acceptable, nay, expected, and magical money and derivatives of debt derived from debt make some people wealthy while driving the majority of people into poverty and unemployment.

Tue, 06/15/2010 - 09:22 | 414406 Mako
Mako's picture

Cycles and cycles within cycles.   Life is more interesting this way.

Tue, 06/15/2010 - 08:40 | 414340 doublethink
doublethink's picture


Auf Wiedersehen


Angela Merkel's government threatened with collapse


Tue, 06/15/2010 - 08:45 | 414350 jbc77
jbc77's picture

Whats frightening is the fact that when this no volume market cracks, it's going to crumble. I'm fairly certain market rallies based off central bank FX manioulation cannot be sustained forever.....or can they?

Tue, 06/15/2010 - 08:59 | 414369 John McCloy
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I agree with you. A continued rally predicated on Euro strength? Their riots are right around the corner and even in our dilapidated state we have a larger economy albeit it broken. How much money have central banks spent just to prop the Euro? It is still not assauging fears and so many broke nations so close geographically is a prelude to war.
Just look at BBY today. Another soon to be bankrupt company with expensive products, Monstrous retail space and leasing costs and they are having their lunch eaten by Amazon. Factor in Americans losing jobs and ending unemployment benefits and sprinkle in a rising dollar you have double mega dip.

Tue, 06/15/2010 - 08:51 | 414358 jkruffin
jkruffin's picture

Empire Manufacturing came in lower again.  Forecast was 21 and came in at 19.6, showing ZERO manufacturing growth.


I can't wait until Thursday to see how badly manipulated the CPI is this time.

Tue, 06/15/2010 - 08:51 | 414359 Tense INDIAN
Tense INDIAN's picture

i am really confused ..isnt a Head and Shoulders pattern a perfectly "Normal market " behaviour...


or the Manipulators are deliberately drawing out that pattern ...just for fun or for the sake of technicals.....

Tue, 06/15/2010 - 08:57 | 414365 Robslob
Robslob's picture

Since almost all retail traders have been leaving in droves it will be the clash of the Titans II as institution vs. institution in the largest tournament of musical chairs will determine the who will be holding the bag for the entire stock market...lmao

Tue, 06/15/2010 - 09:06 | 414376 John McCloy
John McCloy's picture

Amen. The 5 biggest bagholders in history with the Big 4 Banks + The Fed. And now there is a legion of pissed of hedge funds short squeezed to death over the past year salivating at turning them against one another. The plates keep spinning until someone takes their ball and goes home. They sure as shit cannot expect 401ks to pay their way as in the past.

Tue, 06/15/2010 - 08:58 | 414366 luigi
luigi's picture

"On the other hand, seeing how much credibility (none) the Greek government has, after having been caught lying about its deficit for years, is this really a surprise?"

Interestingly enough, you could take out "Greek government" and put in his place "Rating Agency", "Goldman Sachs", "ECB", "FED", "Bernanke", "Draghi", "Barroso"... whatever, and the sentence would maintain its validity...

Tue, 06/15/2010 - 09:00 | 414371 Zina
Zina's picture

Rising Libor? It doesn't matter! What matters is the fact that NORTH KOREA will be SMASHED today!

Brasil will SMASH North Korea national team, today in Johannesburg, for the World Cup!

I hope Kim Jong il doesn't sink some brazilian vessels in retaliation...

By the way, CALA BOCA GALVAO!!

Tue, 06/15/2010 - 09:19 | 414396 Catullus
Catullus's picture

Moodys is a ward of the state. Just another skirmish in the currency war.

Tue, 06/15/2010 - 09:20 | 414402 Grand Supercycle
Grand Supercycle's picture


As suggested earlier,  the EURUSD daily chart is giving bullish signals.

Tue, 06/15/2010 - 09:21 | 414405 russki standart
russki standart's picture

Gott sei Dank

Tue, 06/15/2010 - 09:26 | 414413 SteveNYC
SteveNYC's picture

Sounds like "If we don't get the ratings we want to sustain the Ponzi and suck pension/mutal fund bond investors in, we are going to roll around on the ground crying, banging our fists, and shitting our pants"


Oh well, I'll give them credit for beating the shit out of Moodys, perhaps the end will justify the means here....or not.

Tue, 06/15/2010 - 12:42 | 414869 cwild
cwild's picture

Anyone notice the underperformance of banks over last 2 sessions. UYG normally moves a bit more than >2x SPX, but today just -1.9%, vs SPX +1.3%.. ominous :o

Long SKF US as libor goes north.

Since 1800.. wildcapital.

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