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Morgan Stanley On European Contagion
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Didnt see anyone post this yet.
To all those who enjoy this particular celebration for the food and libations - a happy Cinco de Mayo to you. Now pass the tequila!
I guess the riots and strikes don't factor into the calculus ?
Morgan assumes the populus will simply fall in and toe the severe austerity line being dictated ?
almost 1/2 of the year is up and it doesn't look like austerity is inclining the populace to obey and pay why should we believe they will for the second 1/2 of the year.......things are only intensifying; This government can't do like the Iranians and fly over pouring acid and shooting people but I bet their protesters are just as fierce or more so than the Iranians were when they attempted coup de tat.
The last drop of water that finally overflows the cup is never too small.
ummm...isn't Portugal a bigger economy than Greece?
I spoke too soon. Portugal is 2/3 of Greek GDP.
But still, Portugal will just be adding to the craziness.
Stating that more severe austerity measures need to be put in place is laughable. The austerity plans have zero chance of working. It's like telling a person with terminal cancer that they should stop smoking. The damage has already been done.
People don't voluntarily let themselves be raped. The Greeks will burn down the government before the long-term austerity measures are implemented for any amount of time. Hell, the Greek government is already beginning to lose the support of their military - once that happens it's game over.
"you Americans never know coup only freedom" Of course the Greeks will "fall in line." What's the point of the overthrow, right?
these are the guys calling for 4.5% 10 year right. good luck with that.
Why do we listen to these people again?
The headlines are junk, no use to clients at all. But some of the charts are pretty.
Classic research bullshit line - "Following our downgrade in Feb. we remain equal weight European credit".
Translation - "see, we downgraded, we are smart..."
Actually should read "we were bullish then we panicked then the SHTF, i mean, who could have seen this coming? So we told you to stop buying, really we wanted to tell you to sell & run for the hills but our traders didnt want to buy that shit from you."
The proprietary indicators I use can identify trend changes before they occur and they have been warning of a USD rally since last year.
Just posted a new EURUSD chart: showing long term trendline with important support around 1.2770
http://www.zerohedge.com/forum/latest-market-outlook-0