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Short Spanish Banks for a 14-20% return
Spain till 7.700-8.700 index
Short BBVA,STD; EWP
Look our CDS http://www.rankia.com/respuestas/851561/fotos/49966
I like when people click on junk... Because im telling the real thing about Spain.
BANKS -Rtrs headline saying up to 15 of 91 banks are expected to fail EU wide stress tests..will have a spec sales comment asap but remember that includes Cajas and Landesbanks..all this from euro zone sources..
So many idiots in positions of power,would not know the truth if it ran over them.
Idiots?!? I think you mean bought and paid for political whores!
Can you be the latter without also being the former?
cable is one of the few currencies (trades) I'm Bullish on! Buy the deep dips! Yen.
I wouldnt. The market has largely left the UK alone as there have been riper , lower hanging fruit to go after , but if cable couldnt break into the 1.70s during the last 2 year risk on move , its not going to now. More likely you will see a fast move down through the 1.50s over the next quarter . The UK cannot and will not raise rates so the stagflation will worsen. As soon as city jobs are lost in London you will see the 500k to 1.5m part of the housing market come unstuck fast. The BoE will end up printing as their next major policy move , not raising rates.
You pay attention to all those painful austerity moves that have happened over the last 6 months? You watch how BOE deals with BIS and ECB junksters!
Admirable, to a degree, at least they aren't completely incognizant of their situation, but they'll need to bring the cable back to ground in order to export and dig out, don't you think?
How much do you think people are willing to pay for Fish and Chips?
Yes I agree 777. Inflation in Sterling. Now a risk off currency, is not a bad thing.
remember when the Greek finance minister was telling speculators they would lose their shirt betting on being short Greece?
My Dear Friend Tyler,
Thank you for the posts. Please keep them coming. Glenn Beck is slowly moving off the front page.
As a resident in UK, I have long adopted the approach - "earn your bread overseas and don't invest a penny in UK, Europe, or USA". Not done me badly so far.
I think somebody has better tell Adam Posen that with economic growth being zero in the UK over the past 6 months and inflation being 4.5% on the CPI measure and 5.2% on the RPI measure that stagflation is already here! Although that would mean he would have to admit his policy errors over the past 2 years. Here is an interesting critique of his views from the economist Shaun Richards.
My critique of Adam Posen’s opinion piece in the Financial Times
Like a stopped clock one day Adam Posen's views will be correct but it is feeling like a very very long wait.
economists don't appear to treat rising prices as evidence of inflation
A show of hands; who here would like to live in Silver City?
You are assuming that it exists. Does it exist?
That was funny, more so in the context of the recent mirage city stories comign out of China.... http://www.foxnews.com/scitech/2011/06/27/lost-civilization-appears-above-chinese-river/?test=faces
And the pound getting pounded. Not quite a sterling currency anymore.
I think the Pound is the canary because it, because after 300-400 years of abuse, it's got to go/give. Way to one world currency that is. ;-)
Posen is a political whore. Just yesterday Mervyn King gave an interview which basically contradicts everything Posen says.
If the BOE's policies are "Ultra Loose", then WTF is the Fed? We're running out of superlatives here.
Posen's position is dictated by this:
If they raise rates there will be a significant failure of the housing market, and a knock-on effect on the British banking system. It could lead to a full-scale depression. If they keep the ZIRP policy and (probably) add further QE the show can be kept on the road (probably) until the next general election. The only people who will suffer from this in the short term are savers, like me. That is why I naturally hate these bastards, but then that's just me.
In the long run the big objection to this policy is that as others have said here capital cannot form in such an environment. Instead capital is steadily being eroded. Therefore in the long run this policy will lead to exactly the same result as an increase in interest rates would now. It just takes longer to get there.
JFC...savers? Where do you think the interest comes from to pay your coupon...magic?
I love how you "savers" think the CBs are cheating you of your due when there is nobody out there who can generate a ROI sufficient to pay your stupid coupon.
The CBs are following the market; there's no demand for credit. Nobody is lining up out there to borrow your "savings" and pay you the interest rate you think you're entitled to.
The market is now so opaque/volatile and there are so many balls being manipulated up in the derivative air by the big boys that anybody who wants to win big has a good chance of losing his skin. Like a virgin.
"You are talking 'nonsense'!"
"No, you are talking 'nonsense'!'
....7 hrs later....
"I am tired. Its time to go to bed."
Are you watching eur/gbp Tool time? Get some exercise. TZamboni!
I left the UK because of the dire situation over there... and the fact I want guns when the SHTF... Its no better in the states IMO, but your devalued currency does have more purchase power within the US...
I earn about half what i did in the UK (if you take into account exchange rates etc.), but i pay less taxes and 100k will get you a hell of a lot more in the US than it will in the UK...
I chat with my family back in the UK and they all say that wages are being cut or staying the same but everything is costing more... and I have family members that range from low to high income families and they all say the same...
UK has been in stagflation for almost 2 decades when one looks at wages versus general inflation.
The buying power of wages has been hammered down and down and down and...
Sadly, as an employer, I have to report that part of the reason is the incompetence of a large part of the workforce.
It's easy to hire someone to sit in a call centre and talk (often incomprehensibly; almost always ungramattically) to customers.
Try hiring a good toolmaker... or CNC programmer.... or plumber... I have been trying to hire a good fencer for a year. I have sacked two contractors. The last one lied so often about when he was going to come I sacked him before he arrived. I have asked one of my ex. Polish employees to come back and work for me again.
We have bred a generation of unemployable twits. No wonder the buying power of wages is low.
The UK is 10 years ahead of the meltdown that's coming in Europe!
C'mon UK is not socialist like Europe!
Fine point Bohemian! When BOE starts edging Rates up, I'm liking the Sterling!
Wait a mo'. There may well be incompetent workers (from the boardrooms down), but I haven't seen pre-tax profits shrinking over the last 20 years. More profits being made should end up in the workforces' pockets (in part), BUT generally, they haven't. They've gone to shareholders ( and owners of the businesses in small companies) and management (in larger companies).
Simply put, the rich have got richer, the poor have got poorer.
The minimum wage has been the best excuse ever for businesses to pay a bare minimum. It has had the effect of keeping wages in many industries artificially low, and all with the backing of the government.
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