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Ah yes... The old "head-in-the-sand" solution. How can this possibly not work?
The bond speculators seem to love it though. It would be a spectacle to see them pick up pennies in front of an actual steamroller, rather than the seemingly nebulous bad debt version.
everyone knows by now there is no bad idea bad enough to not merit reconsideration.
Groundhog day, bitchez.
Send Linda Green over there to fix it.
Linda Blair might be whats needed
my little bit of money would be on Linda Tripp.
The finest of MAD. Euro Monetary Union looks like a suicide cult. Oh well, Rome riots shortly...
Watch SOV CDS spreads...appear wider
Are they dumb and making this up as they go along? Or, is it a very twisted Machiavellian plot to incrementally implement a fascist dictatorship using the old problem, reaction, solution paradigm?
Maybe its a bit of both as Hayek illustrated in 1944 in his book The Road To Serfdom, as even the most ideological well meaning central planners in the initial period will inevitably end up dictators over time.
A book I own.
Nice questions, reference to a good book, generally accurate assessment of present day events, who junkt this guy?
We are chimpanzees with opposable thumbs with a gift for mimicry. We have the beginnings of theoretical thought that may allow us to be something more than our base programming. I would guess the financial locusts have a general playbook. When something unscripted happens, you allow it to enhance your reputation, ignore it or blame someone else. Group fortunes rise and fall as members switch troops based on opportunity for advancement and access to chicks (or dudes if you are into Bilderberg).
Being a PM holder..I sit and watch this play out...its quite funny because absolutly no economics is being used..nor are the facts being used....its how one country can save its banks while the other country wants to save their banks...not thinking that there is really no way to save them...and if they think saving them is to add debt to an already broke country...that is where I start laughing..or drinking..
the EFSF thing is a joke. Who will sell to the EFSF? not the banks because they won't take the losses and once the hedge funds figure it out, they will jack up the prices, efsf will buy, funds will be out and then what? and how long can EFSF keep a AAA rating, as doctored up as it might be, if they buy assets and turn them into worse assets?
Little off-topic. Or not.
Iran says it shot down a US spy plane over its Fordu nuclear site, citing state agency
"provide emergency credit for insolvent countries".
Giving someone who is drowning in debt more debt will lead to a bigger default when the inevitable finally happens.
Any way to profit from the upcoming rise of the CDS of the UK?
Short GBP/CHF or maybe short it against AUD, NZD?
The first trade hasn't been precisely a winner this week, but the other two are outstanding.
eur is still a short...just not yet. they will all print in europe, a completely fubar for the EZ. wait till the chaos after that eu summit, on rating agency revenge after that french butnut claimed that rating agencies have no place in europe. EZ is gonna get smoked...GBP/UK too. what a bunch of idoits over there.
ha the ECB is the 'toxic' bank of Europe! Old Europe returns with a vengeance...will they ever learn?
And who gets to own the BAD bank?
HOERA!! THE BILLIONAIRES ARE SAVED ONCE AGAIN!!
Now hang them.
u can't hang those who make the law and eat all the gravy. That's the real world upside down.
Greek debt at some $460 billion with $160 billion CDOs in US bank issuance and Italy at 120% GDP is probably enough by itself to bring down the whole house of cards. the transparent and meretricious charade provided by the ECB, itself leveraged at 25/1 is about to evaporate like the vacuous black hole of the EU itself.
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