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Zany, zealous, zippy, zonked. Brilliant work. Zero is the greatest.
Speaking of PIIGS, what's up with this?
How DEEP is this portuguese abyss?
Where are all those idiots who said they will convert all their USD to EUR when it was trading north of 1.50? So quiet now.
The structure of the Euro system actually makes the deflation debt apocalypse that has been promised everywhere possible there.
The EU does not collect taxes. Hence, it cannot issue debt on these taxes. Hence, it cannot bail out any member country.
Germany is not going to bail out other countries. That would be like Texas bailing out California, unthinkable and impossible.
The PIGS are not going to withdraw from the Euro. To seize control of the currency, states have to be at the peak of their power, typically during war-time. The PIGS are at the trough of their power. They are clinging to life and can't make people do anything.
Buying Euros may be the gamble that pays off the biggest this year.
if greece defaults and other pigs follow
and take back their original currency
wouldn't the euro go down?
What makes you think they have the power to take back their original currency?
It takes a ruthlessly united government to seize control of the currency, the kind that only exists in war-time.
"The structure of the Euro system actually makes the deflation debt apocalypse that has been promised everywhere possible there . . .
Buying Euros may be the gamble that pays off the biggest this year."
And Latvia is arguably the EU member that is furthest along in its debt & wage deflation, so buying the Latvian lat (LVL) should be an even better gamble!
The forex speculators can't attack it because they can't borrow it anywhere.
Look, its Haley's Comet!
Who woulda thunk the latest tremors would begin in Europe?
The fact that "suddenly" (meaning over the past few months) they're having serious problems leads me to think either they want these problems to occur as an excuse for the collapse they knew they could never stop or they are deliberately pushing these patsy countries over the brink as an excuse............
Ideas anyone? I'll listen to any you have to offer except ones that claim "coincidences" which I gave up believing in shortly after Santa Claus and the Easter Bunny abandoned me.
Remember where you heard it first:
Thus, with a superb mix of condescention and 'we know best' the central powers of Europe will gain effective control of a new empire. I mean, we are looking at a deal here: let's not fight any more, let's just rule it between ourselves.
I can´t help to notice (as a portuguese) that you misspelled Portugal in the title!
In the other hand, keep up the good work...
Oh boy, pour me a Cockburn.
Every effort is being taken in order to distract attention from USD, which is next in the domino row. Let the EURO fail, and may everyone buy dollars and USTs; but once the purchases will have been completed and the people are sitting on the wads of newly printed FRNs and USTs, what's next, where to invest? that is the question...
If you have read this site, you should know where..
Meanwhile, US debt ceiling is increased by 1.9 trillion to 14.3 trillion .....
Give me leave to rail at you, -I ask nothing but my due:To call you false, and then to sayYou shall not keep my heart a day.But alas! against my willI must be your captive still.Ah! be kinder, then, for ICannot change, and would not die.Kindness has resistless charms;All besides but weakly move;Fiercest anger it disarms,And clips the wings of flying love.Beauty does the heart invade,Kindness only can persuade;It gilds the lover's servile chain,And makes the slave grow pleased again.
Tick Tock. Tick Tock.
Os gajos estão a se foder, ora pois...
Nice comment Zina...
It's all Greek to me, Dude. I know I'm just a ugly American but could you please translate into English, considering this is an English language web site?
Something like "they (portuguese) are getting screwed, as expected..." this is an interpretation, portuguese language is litle bit dubious.
The real problem for Europe will be Spain and, in a worst case scenario, UK but that is IMO.
That was with a characteristic accent from Portugal (at least the stereotyped accent that we, Brazilians, used to believe that people in Portugal have).
I believe the literal translation is "they (working class) are getting fucked, as usual. It would appear that the Portuguese model is similar in structure to the US model.
You'd think somebody who tries to act as smart as you do, CD, would know that Google has a translate feature built into the search page now. It's less work than asking the board....
"...tries to act as smart as you do, CD,.."
As opposed to you, who are actually smart without really trying, right?
I make observations that apply to the world and how we deal with it, not just financial or economic. I'm the first to admit that I'm only scratching the surface and that I do everything I claim others do. I often speak using the words "I" and "we" to include myself in the subject, both because I am talking about myself and so as not to offend.
And you remain anonymous so that you can snip yet be invisible. Cowardly is what I would call it. At least I stick my neck out and can be identified and also searched for prior comments and history. You can get an ID and avatar and yet remain anonymous. So what's stopping you? Oh, that's right, so you can remain unaccountable.
"Don't worry, he Happy"
Spain will be the real fun... Portugal is actually a smaller economy than Greece.
The Siesta is a Spanish thing... check your facts before playing smart-ass next time ;)
Widened another 23bps (eonia+90) after the auction...Not a lot of DV01 out there 2 pay though. With VGH0/EUR trying to break lower (albeit on crap volume) not gonna be pretty in Lisbon tom.
Who sells these CDS? How crazy do you have to be to keep issuing them?!
Weeeeee! it did a cup and handle thingy.
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