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Presenting The Most F*#&$d Up Curve In The World
If you thought a Fed bailout is ugly, you ain't seen nothing yet: this is what a European bailout looks like. Not much commentary needed. With Europe and the IMF explicitly funding the delta from the smooth inverted curve (it's inverted because the market knows too well the country will default) and with a bulk of Greek debt in the short-dated side of the curve, the implicit immediate loss borne by European and US taxpayers is about 6% on $145 billion of debt or about $10 billion, which investors in the short end are underwater by currently. We are not even accounting what the impicit cost for the broader parallel curve shift as a result of this intervention is, but something tells us it is in the tens of billions too. Yet somehow, we are certain that the ECB and the IMF will spin this as a massive victory for the bulls. We are confident the appropriate talents of CNBC in this regard have already been retained.
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It looks like the malaka poustis win!!
LOL, what a bunch of mounopana (douches)!
The appropiate CNBC talent are too busy sucking off Uncle Warren this morning. No doubt a victory for those (especially Uncle Warren) who still believe the head of the IMF is a chick.
We need a new ZH poll: Who is the best fluffer of the "financial media"?
I nominate both Becky Quick and Maria Barto....
I hear Harry Wagner gives better blowjobs.
It's a leading indicator based on the fundamentals.
Becky Quick is the worst....she's totally clueless. A couple of weeks ago she was all bent out of shape because Syracuse students were protesting Jamie Dimon speaking at their commencement. It's amazing to me that people "in the business" could be so brain-dead and myopic.
HOOOOORRAYYY for my alma mater!!!!! GO ORANGE!
This morning, Becky Quick asked Uncle Warren a question about Blankfein that went along these lines.
Do you think the CEO of GS is doing a superior job?
Talk about unbiased questions, Uncle Warren has $5 Billion in preferred and around $60 Billion of derivatives in GS. Of course the GS CEO is doing a brilliant job. Thank you for asking Becky.
The repeaters (not a typo) on CNBC don't see anything wrong with what they do. They are fully assimilated into the hive.
"I play for whoever owns the supper dish." ~ Snoopy
LOL
Doesn't get much more basic than that, does it? May I amend? It appears that CNBC and its cast of whores can be rented as well as owned.
"I play with whomever fills my supper dish." ~ Snoopy
You always forget to mention that the bailout isn't free money given to the Greeks exactly and it has a 5% inerrest rate charge fron the EU members and 3.3% for the IMF. Merckel said many times to the parliament that Germany will have benefit from the bailout over 1 billion euros.
Ben Bernanke opened the way for the bailouts and Europe is following now. The experiment seems to work so far...
That's what the guy said jumping head first off a 50 story building, as he passed the 21st floor.
LMAO!
Of course it is free money - do you think there is any chance at all that one Euro of these "credits" is ever going to be paid back???
The bailout freight train is at full speed now,Just wonder how they go back to normal.(You screwed up your gone period).
"We are having a do-over." -President Obama
So, finally someone is calling the global bulltard bluff.
+1
No problem, party on Greece! Say what they want to hear, then do what you want!
Lots of German and American taxpayers starting fell like suckers now I imagine.
Germans feeling like suckers? Not yet, two battles remain: 1) it still needs Bundestag approval, and 2) Prof. Starblatty's constitutional challenge in the high court.
It remains to be seen if we win the war, but there are still two fights left.
There is NO HOPE that Greece gets any German taxpayer funded Euro's before they default! Greece needs the money NOW, and the Germans are going to take their time to get this through the Bundestag (if it makes it at all). If the Portuguese realize they will need to borrow their contribution at a higher interest rate than Greece is paying, then Portuguese money won't be coming anytime soon.
Greece will take as much money as they can. The citizens will then sit on their asses and vote in a government that'll gladly default.
Lol that's like if someone said those good old CDO's they bought made some money, knowing full well they're going to lose 100% of it later, but not wanting others to be aware of that now.
Why not default? If i was hugely leveraged and promised years and years of sitting on my property for free I would do so, maxing everything, spending everything, and defaulting, since there are no real consequences in today's world for doing so.
Could this be the Fed's and Treasury's hidden agenda?
It's clearly Larry Kudlow. That guy gives a mean one.
"the story" has now become "the experiment." even Buffet said "I really have no idea how this is going to turn out." not that it really matters materially to you and me if we don't live there HOWEVER: this information is worth "retaining" not the least because we are dealing with "governments" which for all of us should be short hand for "corruption." Stay tuned as doing nothing costs nothing--but doing nothing is not an option, so now the real disaster begins. Think of it as "your first investment."
Carl quintanilla is pretty good
http://www.youtube.com/watch?v=XtRkZ3i1ERQ
at blowjobs?
Have these governments politicians got masters degrees in stupidity?
Nopes, I would have to say a Ph.D.! :-p
looks like someone/everyone is getting rid of the Euro!
I had 1300 Euros in cash when we went to Italy (we did of course spend more than that with the credit card and Euros from the ATM). I returned with just 90.
I bought as much exotic European booze as I could get into my suitcases (8). 1 of those bottles is Italian Absinthe, I can hardly wait to try it, although I did read that they have only allowed absinthe to be made with the "bad" stuff taken out.
Since I do not feel any better longer term re the dollar, I will just go out soon and buy more gold and ammo.
duration weighted MTM neutral trades are fucked like the curve (which looks like a goddess ready to get an a$$ ramping)
Someone really IS dumping the Euro!
Yes. It's the NBG.
Hey ECB are you carefully monitoring the situation?
Without actually doing anything of course!
I hear Harry Wagner gives better blowjobs!
I can't wait to see the fist f**cking porno flick Harry invested into and is expected to appear in. He's playing a horney cheerleader that gets incrediably exited while watching CNBC infomericals. Opening in November in a Wall Street Alley near you.
This is why the world is in such a mess
http://failblog.files.wordpress.com/2009/09/fail-owned-hard-work-fail.jp...
If it's not that, it's porn.
I don't actually know any "white collar" people who do more than 30 minutes to 1 hour of actual "work" on any given day anymore.
We are a lazy, greedy, and utterly useless society.......
This comment stream proves your point bubbles!
This chart can not make up it's mind as to the moment for the eminent collapse of the economy!
Well, will it be two years, or four years?
I say go short and beat them off the burning bridge. Two years.
DOW/SP500 intra day chart gives bullish signal.
Interesting ...
MARKET UPDATES:
http://www.zerohedge.com/forum/latest-market-outlook-0
United States
37,149.3 29,345.1 939.0 190.5 28,596.5 8,553.2 23.0Greece
823.0 668.3 16.0 0.0 652.3 170.8 20.8Financing IMF Transactions Quarterly Report
http://www.imf.org/external/np/tre/ftp/2009/020110.htm