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Portugal "Insolvency Sweeping Under The Rug" - Friday Edition

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Fri, 02/18/2011 - 10:54 | 973931 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

If it's anything like them Persian rugs, there will be people in the street soon demanding that the banksters stop messing with their monie.

Fri, 02/18/2011 - 10:55 | 973935 Sudden Debt
Sudden Debt's picture

And at some point European taxpayers may just ask what all their money is being spent on.




Fri, 02/18/2011 - 11:13 | 974003 Azannoth
Azannoth's picture

It' for a good cause, like Attack submarines for Israel

"Unglaublich: Der deutsche Steuerzahler zahlt U-Boote für Israel!" http://info.kopp-verlag.de/hintergruende/deutschland/unglaublich-der-deu...


Fri, 02/18/2011 - 10:55 | 973936 Sueco
Sueco's picture

Apparently European countries can afford higher interest rates... get this farse over with already

Fri, 02/18/2011 - 10:55 | 973938 Ragnarok
Ragnarok's picture

It's nice to know other taxpayers around the world also have soar bums, misery likes company.


Side note: When the waitress says "Would you like it Thai Hot?" just say no, you'll thank me in the morning.

Fri, 02/18/2011 - 10:56 | 973939 doomandbloom
doomandbloom's picture

when the see the $ falling too low...they bring out bad news about Europe...and vice versa...

the great balancing act...

Fri, 02/18/2011 - 11:12 | 973991 Hammurabi
Hammurabi's picture

DoomDoom you absolutley right

Fri, 02/18/2011 - 10:59 | 973942 Ratscam
Ratscam's picture

Mr. Hildebrand (Mr. Ben Shalom B. of Switzerland) incurred currency losses of CHF 31bn (roughly USD 32bn) in 2010. With the help of gold the final loss for the SNB was CHF 21 bn.

Great fucking government banking wankers. Any private company would have fired any of their sorry asses.

Fri, 02/18/2011 - 11:00 | 973947 jus_lite_reading
jus_lite_reading's picture

Now, I don't claim to be the brightest individual on the face of this earth but shouldn't the "markets" be even a little down on-

China curbing lending

EU debt crisis exploding

The Middle East going to hell in a hand basket





And YET-- US Treasury's Geithner says the global economy is in better shape than its been in last 2 to 3 years --AND-- the so called "markets" are GREEN!




Fri, 02/18/2011 - 11:02 | 973957 Mr Lennon Hendrix
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US equities have a free line of credit, why on earth would they go down?

Fri, 02/18/2011 - 11:12 | 973995 jus_lite_reading
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I know, that's why I find it more than ironic, they are worried about "global imbalances" when the so called "FREE markets" are the most imbalanced markets around.

Fri, 02/18/2011 - 11:27 | 974085 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

It is OpEx day. The market will NOT go down at any cost. Monday may be different though.

Fri, 02/18/2011 - 11:00 | 973952 Misean
Misean's picture

That's one hell of a rug. Still, that's gotta leave a bump...

Fri, 02/18/2011 - 11:13 | 973953 firstdivision
firstdivision's picture

Who cares about insolvent countries.  Today is all about the NASDAQ breaking its all time high since the tech bubble burst.

Fri, 02/18/2011 - 11:14 | 974010 gwar5
gwar5's picture

Europe was sequentially rolling out the sovereign crises as long as the ECB was having it's way rolling up the taxpayers. 

Now, not so much. They smell revolutions and trying to keep things quiet so they don't get Mubaracked.

Fri, 02/18/2011 - 11:17 | 974021 Josephine29
Josephine29's picture

The European Central Bank seems to be intervening at the end of the week these days. But as was pointed out in an analysis of the ECB's strategy to help Portugal it is doing this for a reason.

Care is needed here as they were reported as buyers on Thursday and these numbers only include settled trades up until Friday so I expect them next week



So the ECB is trying to hide how much it is buying.......

Fri, 02/18/2011 - 11:19 | 974034 EconSammie
EconSammie's picture

Good point those central bankers are being sneaky again.

Fri, 02/18/2011 - 11:24 | 974071 morph
morph's picture

Meanwhile over at the 2YR...

Fri, 02/18/2011 - 11:42 | 974169 Mike2100
Mike2100's picture

talking about rugs, try Arraiolos, the best in the world.


Portugal is being resilient, isn't it!

Fri, 02/18/2011 - 12:00 | 974249 topcallingtroll
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Where are all the euro snob posters now? I miss their tut tutting about how their system is so much better than ours.

Fri, 02/18/2011 - 12:05 | 974273 apberusdisvet
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If the Irish say FU to the IMF/ECB, then it's game over.

Fri, 02/18/2011 - 14:47 | 975110 topcallingtroll
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they should.  Go Irish!

Fri, 02/18/2011 - 19:38 | 976024 Buck Johnson
Buck Johnson's picture

Mark to Unicorn, extend and pretend whatever, the western banking system is bust and they are doing everything they can to keep it from imploding.

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