Summarizing The Reactions To The Portuguese Bailout

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Wed, 04/06/2011 - 15:32 | 1142338 centerline
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"In some ways it is a positive"  - LOLOLOLOLOLOL

Wed, 04/06/2011 - 15:37 | 1142360 SheepDog-One
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'In some ways it is a positive'...hmm guess he must be looking at a gold chart.

Wed, 04/06/2011 - 16:18 | 1142570 Highrev
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The "positive" is that it's small potatoes compared to the problems the U.S., Japan and China have.


"It's somewhat puzzling this lack of euro reaction to Portugal admitting it needs aid.

Put that next to the U.S. Federal Gov., the States and Locals, the trash that the Bernank has on his balance sheet (and the major U.S. banks) and I think it's a lot less "puzzling".



Wed, 04/06/2011 - 17:27 | 1142811 Cleanclog
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Worries about Portugal are interesting and expected.  But look at Oakland, California.  With a $45 million deficit, city council considers an $11 million dollar parcel tax measure to put before voters, and Mayor suggests Oakland could loan itself the $11 million and make it up if tax passes to collect the tax the next year.

How can they lend themselves $11 million they don't have.  Yet another creative way to increase debt.  Stop stop stop already!

Wed, 04/06/2011 - 21:45 | 1143735 Ahmeexnal
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Portugal's denial was identical to a wino stating time and time again "I don't have a drinking problem". Now that Portugal has come out of the closet, it's "GIMME MY BOOZE!".

Major war is about to break out between EU members.

It's already priced in. BTFD!!

Wed, 04/06/2011 - 22:51 | 1143913 FeralSerf
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It's only a problem when one runs out of his beverage of choice.  The wino, his muscatel; Portugal, her euros.

Thu, 04/07/2011 - 01:25 | 1144328 dark pools of soros
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no worry..  Bernake will put them all on the NIghtTrain..

Wed, 04/06/2011 - 16:37 | 1142631 willien1derland
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+1 - of COURSE it is POSITIVE - the ability to reckon & gauge reality is of vital importance to survival - See Charles Darwin Origin of Species...survival of the fittest...or perhaps the most positive - tragic irony...poetic justice - your call folks...Time to visit the Mr. Xanax....Goooz Frabah.... 

Thu, 04/07/2011 - 01:20 | 1144324 Urban Redneck
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Darwin wrote about evolution in the natural world.

All the BS about teaching Darwin is indicative of the failure of our education system, as the history of humanity is an ongoing attempt to nullify the applicability of the theory of evolution to the human race.

In the natural world there is no mechanical or biomedical engineering to lengthen the lifespan or increase the reproduction of inferior species.

In the human world there is the printing press, which enables the inferior bernankus stupidus  to not only survive longer than it otherwise would (in a natural world), but to reproduce in any location with a central banking facility. 

Thu, 04/07/2011 - 05:15 | 1144483 chistletoe
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Actually, that was a fascinating comment.

Herbert Spencer and others popularized an economic theory called

"Social Darwinism" in the late 1800's

(also called "laissez-faire capitalism") which became the basis,

or rationalization,

for the rise of the extreme wealth of the 1900's robber barons.

It was only the intervention of the US government under Teddy and others,

bringing the rise of government regulation,

which rescued our country from class warfare.


How times do change!

Wed, 04/06/2011 - 17:22 | 1142800 gorillaonyourback
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exactly, if you're a masochist and like austerity shoved up you ass, its a big positive. lololol

you ever wonder when the piigs are go to say to the ecb "take this austerity and shove it, it aint workin here no more" i mean really default and start printing its own money

Wed, 04/06/2011 - 15:33 | 1142340 Ancona
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No reaction? They had better react, because the dominoes are starting to fall. The conclusion to this will not be pretty.

Wed, 04/06/2011 - 15:57 | 1142461 Cdad
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Well, the criminal syndicate known as Wall Street just staged an S&P breakout...and no one showed up.  So I guess failing to react to things is the new thing.

You know, the complete lack of participation in this market is just sad.  This once great nation...

Wed, 04/06/2011 - 16:06 | 1142489 SheepDog-One
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Dang, they staged a market rally, and no one showed up? And there was Timmah and Bernanke dressed in their best belle of the ball evening gowns waiting to greet everyone, so sad. The markets once the pinnacle of world economy now lay in ruins, only participants a small group on each others speed dials, with no hope of anyone trusting them in the least bit ever again. Print that, Bernanke!

Wed, 04/06/2011 - 16:27 | 1142591 Highrev
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Post March 2009 highs on the Dow and the Composite.

Breakouts higher in the financials.

Wed, 04/06/2011 - 16:35 | 1142622 Cdad
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with no hope of anyone trusting them in the least bit ever again.


And despite the truth of your statement, the layoffs still have not come, and the prosecutions are nominal...basically, three insider trading cases involving a nominal number of individuals.  This is how we know we are still in crisis, Dog.  

Unless and until the criminal syndicate known as Wall Street is right sized and cleaned out of its criminal elements, including the thousands of individuals involved in mortgage/MBS fraud, there is no reason for capital to form and move into equities.  And so the Bernank can "print that," but his printing only leads to a greater and greater measure of distrust. Thus, he can never exit the Ponzi scheme...and his counterfeit dollars represent the investment of the last greater fool in.

There is no replacing "trust" in any financial entity.  

Wed, 04/06/2011 - 16:35 | 1142623 Caviar Emptor
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The people and governments of the earth had long since annihilated each other using nuclear waste and biological agents. But the HFT bots still dutifully fired up each morning and traded with one another. By the end of each week the market ticker was always green, a color that no longer existed in the world. 

Wed, 04/06/2011 - 16:11 | 1142541 cosmictrainwreck
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I just love it, Cdad, how you always say: "the criminal syndicate....." :)

Wed, 04/06/2011 - 16:40 | 1142659 Cdad
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Right now, criminal syndicate bankers have essentially formed a new party, having gotten together with crony capitalist corporations and soft headed DC politicians.  I call that new powerhouse the new American Marxist/Banker party

These things need fixing.  Until they are fixed, I shall continue to call them what they are.

Wed, 04/06/2011 - 15:37 | 1142352 SheepDog-One
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Its all good man, here suck up a bunch more Hopium smoke.

Wed, 04/06/2011 - 15:37 | 1142359 ZeroPower
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Hey look, EURUSD >1.43s!

If its not a full 100bp higher tomorrow from the ECB, might be the end of the squeeze..

Wed, 04/06/2011 - 15:42 | 1142395 slaughterer
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EURUSD >1.43 blew through the pivot that GS gave us in last weekend's "kick start."  Gee, thanks for that good advice, squid.

Wed, 04/06/2011 - 16:38 | 1142627 Highrev
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Currently in a daily profit taking zone and just below very long term horizontal support/resistance.

This is a big level for the EURUSD.

Bullish above, bearish below big.


Add: It's been said that the USD is trading an equally important level. ;-)


Wed, 04/06/2011 - 15:39 | 1142376 oogs66
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Maybe we can turn the good bank/bad bank into good euro/bad euro. For every current euro you get some good euros backed by germany and holland and France. And some less good euros backed by the rest. They can have separate interest rates etc and politicians can be happy because they didn't have to abandon the euro.

Wed, 04/06/2011 - 15:40 | 1142379 camoes
camoes's picture

I said it already and say it again it's the BUY ANYTHING THAT HAPPENS F'CKING DIP SCHEME! Tell your friends and family!

Wed, 04/06/2011 - 15:43 | 1142386 Mae Kadoodie
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"traders every day have been looking at the widening spreads between the German sovereign debt and the Portuguese sovereign debt and wondering how it all ends."

well.. wonder no more.

Wed, 04/06/2011 - 15:46 | 1142391 FunkyMonkeyBoy
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Why the need for aid? Sell all that gold you have portugal.

After all, what's the point in having all that gold, if not for times in need like these? Well?

26 Jan 2011:

Value of Reserves: $18.21 billion 

Holdings Total: 421.6 tons 

Wed, 04/06/2011 - 15:47 | 1142417 DoChenRollingBearing
DoChenRollingBearing's picture

No, MUCH better for Portugal to get a bailout and keep their gold!

Hahaha, Germany!

Wed, 04/06/2011 - 15:49 | 1142428 SheepDog-One
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Seems countries gold reserves are simply for when the people riot and the leader takes off with the gold in the cargo hold.

Wed, 04/06/2011 - 15:57 | 1142460 youngman
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There is a lot more gold buyers in Portugal tonight as they just found out their government was lying to them....LOL

Wed, 04/06/2011 - 15:46 | 1142412 sabra1
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do the germans know about this?

Wed, 04/06/2011 - 16:22 | 1142590 Josh Randall
Wed, 04/06/2011 - 17:15 | 1142776 PY-129-20
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Yes, we know about this. And all those German media whores (think of CNBC alikes) are finally admitting that there is a problem with the bailout parade. Even the financial media is printing more Euro-critical articles lately.

Thu, 04/07/2011 - 01:29 | 1144335 dark pools of soros
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who's the German Becky Quickie???

Wed, 04/06/2011 - 15:50 | 1142423 Misean
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In denial!?!?! OMFG! Thank you Dr. Phil! Now we have whole countries that create a positive by admiting a negative! ROFLMAO!

Wed, 04/06/2011 - 15:50 | 1142434 SheepDog-One
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'Encounter group therapy' world economic model!

Wed, 04/06/2011 - 15:51 | 1142437 TaxEstate
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I can summarize the stock market's reaction in one word: Yawn.

Wed, 04/06/2011 - 15:52 | 1142446 SheepDog-One
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Nukes could be raining down from the west to east coast, and the DOW would be up +40.

Wed, 04/06/2011 - 16:05 | 1142507 TaxEstate
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Yes, great for GDP as the rebuilding process begins. Perhaps all Amercians just need to burn down their homes, and drive their cars off a cliff- that will bring back prosperity to America.

Wed, 04/06/2011 - 16:09 | 1142521 SheepDog-One
SheepDog-One's picture

Nah, now WW3 begins, its kicking off in the mid east big time. ALL this BS from 2008 on was for the global elites to suck up all the wealth, now its time for world war and mass population reduction. Everything else is smoke and mirrors hiding from the real truth.

Wed, 04/06/2011 - 17:20 | 1142797 PY-129-20
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You could create a great campaign - support your nation today and drive your car off a cliff!

Wed, 04/06/2011 - 15:53 | 1142444 M.B. Drapier
M.B. Drapier's picture

What's up with the tightening in IIGS sov. debt at the moment? ECB buying again?

Wed, 04/06/2011 - 15:53 | 1142449 falak pema
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portugal is peanuts like Spain...where the rain falls mainly on another financial plane

Wed, 04/06/2011 - 15:57 | 1142474 Herman Strandsc...
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'The Rain In Spain Fall(out)s Mainly on The Plain'

Wed, 04/06/2011 - 15:57 | 1142472 claycalhoun
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Spain next??


....... and then ? Italy maybe?


........and then ? 


The whole debacle is a fraud of gigantic proportions!!

Wed, 04/06/2011 - 16:22 | 1142583 claycalhoun
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Who is going to default and give up the Euro, nobody until the Germans decide to go back to the deutschmark

Wed, 04/06/2011 - 16:46 | 1142691 willien1derland
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Not to mention that the Greek banks are the PRIMARY lenders to Eastern Europe - and the French Banks hold the majority of Greek Sovereign Debt

Wed, 04/06/2011 - 18:03 | 1142954 claycalhoun
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Looks like it's inevitable that this is going to end in 'defaults'

Wed, 04/06/2011 - 16:04 | 1142495 monkeyfaction
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It's only a matter of time before they have to ramp up the Euro printing presses to Bernanke speed.

I'm betting there will be no rate rise tomorrow either.

Wed, 04/06/2011 - 16:12 | 1142538 CheapKUNGFU
CheapKUNGFU's picture

All your bailouts are belong to us, make your time...

on gold, they claim to have 18.2 billion, but are we sure its atually inside the country in BULLION?

next up, Spain, then Italy...


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