Portuguese Government Rejects Austerity Plan, Government Collapses

Tyler Durden's picture

Just out:


Next up: government resignation, crisis, bail out, etc. You know the drill.

Very modest drop in the EURUSD for now:

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hugovanderbubble's picture

Next Spain...

Spain is in DEFAULT


DOnt buy Spanish bonds

Neither Public and Private.

Alienated Serf's picture

When Spain goes down, I expect to expect dow +200.


Cash_is_Trash's picture

Show Joe Socrates the door please.

long juan silver's picture

Hell Porgy's good for plus 500 Dow alone! 

Spain? Put me down for plus 1500! In fact, I like that number. If Spain goes tits up-- it's SPX to 1500! Bernake will be en fuego mi hombres!!

Cash_is_Trash's picture

Nigel, Nigel, Nigel...

Nigel Farage that is.

The only sane critic at the Euro Parliament.

invention13's picture

I've been wondering the same thing - where's my buddy Nigel on all of this?

I find him entertaining as hell.


John Law Lives's picture

Your post is funny, but it is so goddam pathetic that I want to vomit.  The Ben Bernank seems intent to destroy the US Dollar and nobody in Washington DC (other than Ron Paul) seems to care enough to speak up about it.

SheepDog-One's picture

Politician puppets never have a word to say about anything until its election time and their phony baloney jobs are on the line. THEN its always fire and brimstone speech time.

Republican Lackey's picture

They don't say a word because their constituients wouldn't understand what they're saying. It's too complicated a subject.

Fred Hayek's picture

That's part of the problem.  The other part is that the part that's easily understood is all bad news.  Politicians have ZERO willingness to give anyone bad news.  Look at the Teleprompter in Chief and his "budget".  Rather than admit what's going on he just declared himself "present". 

Yup, I submitted a budget. 

What's in it?  Hey, look at my NCAA brackets!

I saw a remark at Reason magazine that, not since James Buchanan, has a president so completely failed to even try to deal with the biggest domestic issue of his time.

Cursive's picture

@Alienated Surf

Strong like plutonium bull.

disabledvet's picture

is that kind of like "serf's up, dude"?

Alienated Serf's picture

No. Its like a raging pissed of peasant who bought into the what our feudal overlords were selling, went into debt to work for the lord of the manor, did the dirty work for him and then became so disgusted that he had to quit and be indebted for decaeds to come.

translation- pissed off ex-white collar defense attorney who quit to to take over a 50% cut in pay b/c he could not live with himself for helping pure evil individuals, even though he is in serious debt.

that kind of serf.



el Gallinazo's picture

Couldn't you find some nice, innocent people with a couple of bucks to defend?  Were you hanging out with the wrong crowd?

Fred Hayek's picture

I briefly dated a woman who had worked as a public defender.  She said that she quickly learned two things about the people she was representing.  They all lied to her.  And they were all guilty.

Alienated Serf's picture

if they have enough bucks for a white shoe firm, they aren't innocent.  truth be told, not individuals can afford that, it was for fortune 100 corporations....  bunch of sociopaths.

Alienated Serf's picture

hell yeah!  when indian point melts we'll get a nice 2k bump.  if those wusses would have used plutonium instead of U235 there, would have been 4k.

Yen Cross's picture

Plutionium is in a pit like an apricote. The shell structure I won't disclose.

zebra's picture

why are you so bearish? it would cost at least +1000 in DJ

UninterestedObserver's picture

LOL this was obviously very bullish for US stocks

The Axe's picture

And kick the can....next up the Irish

Gubbmint Cheese's picture

don't forget +327 on the Dow and +15 on the S&P...

squexx's picture

I'm expecting more like 500+ on the DOW!

bothsidesnow's picture

Bernanke trades in helicopter for C-130 Galaxy.

gaoptimize's picture

C-5 Galaxy.  C-130 Hercules



SheepDog-One's picture

Oh nicely timed announcement 1 minute after the bell so as to not spoil Bens 'cntrl/print' 80 point DOW pump herculean effort on nothing but the worst news all day long! Enjoy while it lasts, something tells me it wont be very long. Stocks are so 2007 anyway, wow look at silver rape!

TradingJoe's picture

Yeah! How fucking convenient eh? Right after "market" close Da' Newssss!

Now sell off AH and overnight to only be fucking green in the morning, right on time

for the stupid american sheeple! I really think we al have it coming, this much

ignorance has got to be punished!

SheepDog-One's picture

Sure! All anyone does anyway is the navel-gazing analysis of how theyre raping today and marveling at the captors ability to rip everyone off right in front of their nose day after day.

Cognitive Dissonance's picture

I am beginning to detect the slightest whiff of fear and even panic in the air. While conducting my morning shower and shave ritual I usually subject myself to one (and only one) hour of CNBC inbetween combing over the bald spot and trying to spot the family jewels over the pot belly.

Joe Kernen is what I would describe as a Kool-Aid drinking "insider" if ever there was one. And he is showing some disturbing signs of fear. While the change is subtle and not always apparent to the two types of viewer, one that is either elbow to elbow with Joe at the bar or throwing things at the TV every time Joe opens his pie hole, I see some uncertainty in Joe's eyes and an occasional quiver in his voice.

Joe was promised that by this point we would be well past green shoots and well into harvesting wheat and corn. We are not and he is beginning to become a bit worried. My one hour of self torture is slowing turning into pleasure as I watch him begin to squirm.  


SheepDog-One's picture

Good point certainly. I sense the same from the media all around that things they were promised would happen by now if only they lied real big for a while and carried the handlers buckets around for them. They seem nervous now, probably imagining what will happen to them in a worst case scenario and theyre left to the public theyve been lying to about all this when its shown to have been total BS.

AhhhItBurns's picture

The 'news' making it to 24 hour news networks is jaw dropping. I started to get most of my news by print/online (quicker, and more detailed) years ago and I have been a lot better for it. I got lazy today and turned on CNN for a while to find no mention of current debt events in Europe. A soft news story was quickly followed up with a general 'don't worry' line about the Japanese nuclear ball dropping and its destruction of crops and food products. Better yet, you can take a blind party line stance if you turn the channel up a few. Nothing better than reaffirmed values and strawmen to start your day off right.

Atomizer's picture

Good observation CD. Even Becky is showing signs of distress. IMHO, Karl is still completely clueless.

cossack55's picture

One of the great motivators to keep me going is the hope (and changey) that one AM I will turn on CNBC and see only the lower calves and shoes seemingly suspended in midair and slowly swinging on the silent set.  A dream, I know, but what a dream.

RockyRacoon's picture

Thanks, CD.  Is your comb-over as nice as Mark Haynes?  His is absolutely the worst one on TV -- period.   Somebody in management over there should set the boy down and get real with his makeup artist.   I've got a balding situation myself but I revel in it.  You know what they say:  God only made so many perfect heads; the others he put hair on.

John Law Lives's picture

It is easier to pump the market in AH.  It must be great to have the power that the Chairsatan has and nobody can do anything about it...

unununium's picture

Did anybody see this last week?  JPM was approved to be a COMEX depository  -- in just 2 days:


JPM's facility at 1 Chase Manhattan Plaza is literally across the street from the New York Fed.  Beneath the New York Fed is a huge vault containing custodial metal and presumably a large part of the 10M oz Au the Fed supposedly has.  Would there be, I don't know, any tunnels connecting these two?


Cogent thoughts from a guy at alphaville



99er's picture


Life in the fast...er...middle...lane.



SheepDog-One's picture

SPX...you mean that German owned market? Its relevant to me why?

Alea Iacta Est's picture

Hey Sancho is the market closed?

Si, El Presidente!

Great.  Ok, time to collapse the government guys.


Well timed, Portugal...well timed.

johnnynaps's picture

It's amazing isn't it. One day, the collective effort of these governments to kick the can down the road will cease to exist.

RobotTrader's picture

Looks like we either crash on this news or the markets sky bigtime tomorrow.

No in-between, the Algo/Igor/Robots are either "All In" or "All Out".

The FemBots must be getting torn in all directions, wondering which way to horsewhip the 19-year joystickers.



SheepDog-One's picture

WOW highly relevant and cutting edge post as usual RainbowTrader! 'Looks like markets will go either up or down from here'....SPECTACULAR!!

Backspin's picture

Robo's not just predicting up or down.  His call is for volatility.  That's a valid call.  We'll see if he's right.

Robot Traders Mom's picture

Don't encourage him. Also, his call for volatility is like me saying that he'll have more stupid shit to say in the next 24 hours. No guarantee it will happen, but in all probability it will.

hamurobby's picture

Robo you are right, lets see if retail will really join in, again.

plocequ1's picture

Come on bitchez. Junk The Robomeister on this one. I dare ya