Portuguese Government Rejects Austerity Plan, Government Collapses

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Wed, 03/23/2011 - 16:01 | 1091853 hugovanderbubble
hugovanderbubble's picture

Next Spain...

Spain is in DEFAULT

 

DOnt buy Spanish bonds

Neither Public and Private.

Wed, 03/23/2011 - 16:05 | 1091867 Alienated Serf
Alienated Serf's picture

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

BUY BUY BUY

Wed, 03/23/2011 - 16:10 | 1091906 Cash_is_Trash
Cash_is_Trash's picture

Show Joe Socrates the door please.

Wed, 03/23/2011 - 20:26 | 1092916 StychoKiller
Wed, 03/23/2011 - 16:11 | 1091913 long juan silver
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!!

Wed, 03/23/2011 - 16:13 | 1091942 Cash_is_Trash
Cash_is_Trash's picture

Nigel, Nigel, Nigel...

Nigel Farage that is.

The only sane critic at the Euro Parliament.

Wed, 03/23/2011 - 16:25 | 1092005 Thomas
Wed, 03/23/2011 - 19:28 | 1092736 invention13
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.

 

Wed, 03/23/2011 - 16:25 | 1092016 John Law Lives
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.

Wed, 03/23/2011 - 16:36 | 1092091 SheepDog-One
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.

Wed, 03/23/2011 - 17:30 | 1092393 Republican Lackey
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.

Wed, 03/23/2011 - 19:12 | 1092693 NidStyles
NidStyles's picture

Likely excuse.

Wed, 03/23/2011 - 21:02 | 1093017 Fred Hayek
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.

Wed, 03/23/2011 - 16:15 | 1091946 Cursive
Cursive's picture

@Alienated Surf

Strong like plutonium bull.

Wed, 03/23/2011 - 16:18 | 1091967 disabledvet
disabledvet's picture

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

Wed, 03/23/2011 - 16:43 | 1092123 Alienated Serf
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.

 

 

Wed, 03/23/2011 - 19:04 | 1092673 el Gallinazo
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?

Wed, 03/23/2011 - 21:04 | 1093034 Fred Hayek
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.

Wed, 03/23/2011 - 22:44 | 1093339 Alienated Serf
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.

Wed, 03/23/2011 - 16:49 | 1092154 Alienated Serf
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.

Wed, 03/23/2011 - 22:51 | 1093373 Yen Cross
Yen Cross's picture

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

Wed, 03/23/2011 - 16:20 | 1091992 zebra
zebra's picture

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

Wed, 03/23/2011 - 16:29 | 1092036 UninterestedObserver
UninterestedObserver's picture

LOL this was obviously very bullish for US stocks

Wed, 03/23/2011 - 16:01 | 1091854 The Axe
The Axe's picture

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

Wed, 03/23/2011 - 16:04 | 1091859 Gubbmint Cheese
Gubbmint Cheese's picture

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

Wed, 03/23/2011 - 16:03 | 1091866 squexx
squexx's picture

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

Wed, 03/23/2011 - 16:57 | 1092216 bothsidesnow
bothsidesnow's picture

Bernanke trades in helicopter for C-130 Galaxy.

Wed, 03/23/2011 - 18:14 | 1092547 gaoptimize
gaoptimize's picture

C-5 Galaxy.  C-130 Hercules

-gaoptimize

(IRR USAF LtCol)

Wed, 03/23/2011 - 16:05 | 1091861 SheepDog-One
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!

Wed, 03/23/2011 - 16:10 | 1091911 TradingJoe
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!

Wed, 03/23/2011 - 16:16 | 1091947 SheepDog-One
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.

Wed, 03/23/2011 - 16:31 | 1092054 Cognitive Dissonance
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.  

http://www.cnbc.com/id/15838087

Wed, 03/23/2011 - 16:41 | 1092115 SheepDog-One
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.

Wed, 03/23/2011 - 17:46 | 1092426 AhhhItBurns
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.

Wed, 03/23/2011 - 17:06 | 1092262 Atomizer
Atomizer's picture

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

Wed, 03/23/2011 - 17:05 | 1092269 cossack55
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.

Wed, 03/23/2011 - 20:01 | 1092859 QQQBall
QQQBall's picture

Too much personal info CD. ;)

Thu, 03/24/2011 - 00:30 | 1093769 RockyRacoon
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.

Wed, 03/23/2011 - 16:30 | 1092043 John Law Lives
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...

Wed, 03/23/2011 - 19:56 | 1092846 unununium
unununium's picture

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

http://www.scribd.com/doc/51212528/JP-Morgan-Facility-CFTC-Approval-with...

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

http://seekingalpha.com/article/259549-will-jpmorgan-now-make-and-take-d...

 

Wed, 03/23/2011 - 16:02 | 1091863 99er
99er's picture

SPX

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

http://www.zerohedge.com/forum/99er-charts-0

 

Wed, 03/23/2011 - 16:33 | 1092078 SheepDog-One
SheepDog-One's picture

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

Wed, 03/23/2011 - 16:03 | 1091865 Alea Iacta Est
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.

Wed, 03/23/2011 - 16:11 | 1091925 johnnynaps
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.

Wed, 03/23/2011 - 16:05 | 1091869 RobotTrader
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.

LOL....

 

Wed, 03/23/2011 - 16:06 | 1091882 SheepDog-One
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!!

Wed, 03/23/2011 - 16:16 | 1091960 Backspin
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.

Wed, 03/23/2011 - 16:25 | 1092018 Robot Traders Mom
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.

Wed, 03/23/2011 - 18:45 | 1092629 hamurobby
hamurobby's picture

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

Wed, 03/23/2011 - 16:07 | 1091885 plocequ1
plocequ1's picture

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

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