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Portuguese Government Rejects Austerity Plan, Government Collapses
Just out:
PORTUGUESE PARLIAMENT REJECTS GOVERNMENT'S DEFICIT-CUTTING PLAN
PORTUGAL'S PARLIAMENT BACKS RESOLUTION AGAINST GOVERNMENT PLAN
Next up: government resignation, crisis, bail out, etc. You know the drill.
Very modest drop in the EURUSD for now:
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Yup Nasdaq did great until 2000 came along
In this market, there is no such thing as "bad news". There are only varying degrees of great news.
You are allowed to chose from the following two news categories:
a) It's Great News.
b) It's The Greatest News Ever.
Bad news boosts GDP. Just ask the Japan bulls.
When news of an impending asteroid strike hits, I'm gonna go long media outlets and telescope manufacturers BIG TIME! That's gonna be one hell of a rally.
Buy! Buy!
http://reinep.wordpress.com/2011/01/18/comet-elenin-could-hit-earth/
So how many trillion Yen is this going to cost Japan ?
Don't worry - according our Keynesian overlords, there's a magical multiplier that means the more the Japanese print and spend, the better off they'll all be.
The trouble with Japan is it's tainted goods.
Every man and his dog now expects the 'Big One' to hit Tokyo anytime. Now if you invest in something tangible you need good aftersales service and value. You need to know the vendor will still be there next year.
"Next up: government resignation, crisis, bail out, etc. You know the drill."
Next up: Portuguese 10yr goes to 10%
Next up: ECB buys Portugese Bonds.
Next up: Portugal gets violated from behind.
Should may this meeting interesting.
http://www.rte.ie/news/2011/0309/politics1.html
Their test is almost complete- yes it seems americans actually will believe the complete safety of the biggest sham ever devised, as long as the other guy is doing it BAAA BAAAAAA and will put the last of their money in against all common sense to 'BTFD', total rapage next up!
All the crap coming out of Ireland and Portugal and the the Euro manages to loose just over 100pips against the dollar in the last couple of days.
I can't decide if EURUSD is the short of the year or the dollar is actually dead.
Is it not possible that all of the fiats are effectively equally worthless?
So the FX market is just whistling past the graveyard?
Bingo, but I don't think it is completely played out just yet.
Agreed. The "playas" have not yet decided on who gets the spoils.
All currencies about equally worthless.
Though the FX market would have you believe that some are more worthless than others.
The only news that would cause a sell off is Warren Buffet was kidnapped to Pakistan
Don't get my hopes up...
NO...that would cause a market rally...the Pakistani govt would print $500 trillion and give to the kidnappers for his safe return....they could then invest it with Warren....its a win-win!!
Ah yes, sort of like standing on the deck of the titanic and proudly declaring that you are not sinking. STFU and start fashioning life boats out of whatever will float already.
Exactly.
Regain control of the Sovereign.
The bankers are already in the life boats.
Make boats. Find weapons. Commandeer the life boats. Drown the bankers.
Perfect.
Unfortunately the world is not.
It is imperfect and messy.
I see this as an evolution.
Not sure I like the thing evolving.
...dead bodies float.
"...dead bodies float."
...dead bankers float.
Fixed that for ya.
*chuckle* Thanks ;-)
From the Matrix:
Spoon boy: Do not try and analyze the market. That's impossible. Instead... only try to realize the truth.
Neo: What truth?
Spoon boy: There is no market.
Neo: There is no market?
Spoon boy: Then you'll see, that it is not the market that moves, it is only The Bernank.
LOL!
+1438
Fight back Portugal - show the Irish, Greece, and Spain the way -- PIIGS unite!
Gimme a PEE!
Gimme an EYE!
Gimme another EYE!
Gimme a GEE!
Gimme an ESS!
What does it spell?
Angela, Angela, she's our gal
She better get her bailout pail!
Go Angela!
Merkel, Merkel, she's our girl
Watch the Euro do the swirl!
Yay Merkel!
I think Ben knew what was coming 1 minute after the bell and did his best to pump a bit higher today. Theyve got to correct here from these ridiculous highs. About time for some good ol 'fear and panic' anyway if they want to put the sheeple herd back in 'save us do whatever!' mode for QE3 anyway. Tic toc tic toc.
Funny considering todays green equity markets are actually a loss priced in PM's moves today. People are so easily impressed. I'd be so lucky with the high heeled lookers at the club I'd be estatic!
But fast money just said that it takes 5 portugals to = spain....so if you round (1/5) down to the nearest number, its zero....so portugal defaulting is insignificant.
Solid math/logic. The Bernank would be proud.
STRONG BUY IN EQUITIES, BONDS, COMMODITIES. JAPAN NEEDS TO BE REBUILT. FASTEN YOUR SEATBELTS. WARREN BUFFET IS RIGHT: BUYING OPPORTUNITY. WHO DOES NOT LISTEN TO SKYNET WILL BE SHORT-COVERED / TERMINATED. SKYNET OUT. ZZZZzzzzzz.....
These Portuguese seem smarter than Greek and Irish put together, for the time being, that is...
Are they in fact making a short cut for bail out, or will they give the EU the finger and quit? In the latter case, Spain - their biggest creditor - is toast.
good for you Portugal !
Very modest drop in the EUR because I don't think Portugal was a big part of the EUR's strength. Economic basket case. Wait til we hear that Germany has problems like the US does and they get their Der Bernank out.
How many pips are CA & IL good for?
There this nice law that prevents states from going trough bankruptcy officially. But we all know CA is dead meat already
http://www.youtube.com/watch?v=0r4t4VZ3bM8&feature=channel_video_title
1st to Default WINS!
I assume that Portugal did not reject the austerity plan because the cuts were not deep enough....
If the PIIGS would just hold a "PIIGS summit" to discuss pulling out of the EU, the EU would totally shit their pants. Paging Nigel Farage.... paging Nigel Farage.....
Portugal is now the new Ireland. They'll get a new government that will bitch back at the EU banks. Nothing says you have to let the lion kill you.
Wheels are coming off this high speed train, Spain is definitely next.
In the view of how these things evolve (credit due to the ZHer who posted this, if it was you, please let me know), Portugal is at the end of Phase 3.
Phase 1 - Financial Crisis
Phase 2 - Sovereign Crisis
Phase 3 - Political Crisis
Phase 4 - People Crisis
If the politicians are punting on this one and essentially have no solutions, then the people will be handed the turd. For them this means austerity by default, figuratively and literally.
Their leaders have let them down, soon we in the US will get to experience a similar choice. It will go something like this, forfeit your retirement and 401K to pay our debts and for the children or face a currency collapse. You have 2 minutes to decide.
sschu
Hey now; leave Ferguson out of this.
Exactly - which is why "I know" of certain people that cashed out their 401k's and IRA's and bought PM's
Starting to look like everyone's that been buying food and other supplies for the past year or so shoulda bought stocks instead. I hope they taste good. How would you stir fry digital zero's anyhow? At least you can ingest gold in small quantity.
U$D flight to safety is over kids. Prepare accordingly. Wheeeeeeeeee!
And Socrates drinks the hemlock...
http://www.bbc.co.uk/news/world-europe-12841492
at this point Im honestly numb...japan, the middle east EVERY day, real estate, the PIIGS....its just non stop...and STILL the markets UP...some how .... just about EVERY day... WTF...these markets have no basis in reality anymore... theres no reason to try and go short or use common sense....god, guns and gold....
Portugal Taxation & Globalization
Two links:
09.02.2011
http://www.bis.org/country/portugal.htm
www.bportugal.pt/en-US/BdP%20Publications%20Research/wp201020.pdf
Now for the hardcore information thrill seekers.
Let me google that for you
http://lmgtfy.com/?q=portugal+taxation+and+globalization
ALERT
What's Really Going On In Libya
So I guess there are certain countries on the O.K. List and certain countries on the NOT O.K. LIST
Read this, and at the same time consider that Quddafi created the EIGHTH Wonder of The World by building the Aquifer System that has made Libya and it's people agriculturally self sufficient. He built it with $25 billion, using the country's own money and NOT IMF or World Bank Funds.
************************************
Is Libya being bombed by bloody U.S. Zio thugs because Gaddafi wants to introduce gold dinar? Publication time: 22 March 2011, 16:14The present World Economic Crisis has forced a number of governments to consider introduction of an interstate gold currency, writes a minor Russian oligarch Sterligov on his blog.
Since gold yuan coinage was announced by China, talks about the gold standard had been brought up in the Middle East. The main initiator of non-payment in dollars and euros is the Leader and Guide of the Revolution in Libya, Colonel Muammar Gaddafi. He called on Arab and African world to adopt a single current - the gold dinar.
On this financial basis, Colonel Gaddafi offered to create a single African state with Arab and Black African population numbering 200 million people.
The idea of creating a single gold currency and uniting the countries of Africa into one powerful federal system has been actively supported during the last year by a number of Arabic and almost all African states. Democracy-infested South Africa and the Arab League opposed to the idea.
The US and the EU reacted very negatively to such a initiative. According to a French Zio "president" Sarkozy, "the Libyans have set on the financial security of mankind." Repeated calls by the Leader of the Libyan Revolution yields some results: Gaddafi has made more and more steps aimed at creating a United Africa.
Two false arguments have been invented to cover up the true reason for the present Zio-Christian Crusade against Libya: officially - "to defend human rights" and unofficially - an attempt to steal oil from the Libyan people. Both of these arguments do not hold up to scrutiny.
The truth is that Colonel Muammar Gaddafi decided to repeat the attempts by French General de Gaulle to abandon the use of U.S. junk paper money called "dollars" and return to gold, i.e. he attempts to attack the chief power of modern parasitic Zio Democracy - the banking system.
Department of Monitorng
Kavkaz Center
Club Med. Their Euros are guaranteed by olive branches.
May the least bankrupt State win!!! #USA WINNING!!!
Oh, wait . . .
Never mind.