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dumb vs. dumber
Let's look on the bright side.
The sky is falling.
However, we are still free to watch the lovely Becky Quick and rub one out from time to time.
In fact, I am gently fondling my proletarian farm tool as we speak.
Just thought I'd share.
Anyway, so long.
And God bless all you Marxist cocksuckers.
"European services and manufacturing growth weakened more than economists forecast to the slowest pace in almost two years, adding to signs the euro-region recovery is losing momentum as the debt crisis persists."
So if it is to work like TARP, can we expect the ECB to stealth fund many US banks??
No, because Dodd-Frank fixed all of our problems.
Can't recall. did the dollar tank when TARP was released? Will the same happen to the Euro?
July 21, 2011 Banking regulators refused to commit to releasing details of their investigations into illegal foreclosure practices by the nation's largest banks.http://www.entendance.com/forums/viewtopic.php?f=6&t=791&p=18271#p18271
Ridiculous. Gold is down 22 dollars from a life time high and they are selling. You have to laugh at the idiocy of what are called investors. Well, lets get rid of them and then we can base and move up to the next plateau.
The market rallies on the finality of 16 Trillion in debt that cannot be repaid. Beyond words I think even for Tyler.
grasping at straws
but the european union is evolving!
paulson is happy because now if it goes bad he wasn't the only idiot..he has company and they did it after him
paulson is happy he is not in the brig, waiting to hear the verdict from his treason trial.
Paulson is happy because he got to sell his entire GS stake tax free!
not to mention the commemorative coins from the US Mint. actually, they are not coins; they are medallions. they come in different sizes and there is a whole wonderful neocon assortment to collect and share with your friends.
Seriously where is this money going to come from? The ECB is raising rates to fight inflation and now they are going to print a bunch of Euros to fund the EFSF?
Same place all money comes from now, digital printing press. Its the cornerstone and foundation of all prosperity. I mean, seriously, who doesn't like to have more money.
Europeans are probably feeling pretty foolish now about causing all that angst and fear over possible default when all they had to do was whip up a few billion.
This guy hits it on the nose. Everybody and his lame dog is rallying on this Eurogroup deal, despite nasty PMI numbers out of China and Europe, and nobody's asking yet, how is the EFSF going to get that AAA rating?
The answer is, only if the EFSF is greatly expanded while setting a strict limit on its spending/lending to far less than its total capital. The limit won't be nearly enough to rescue Spain or Italy, but the total capital will be plenty to weigh on the creditability of the rest of Europe. And will Spain and Italy have to contribute to this EFSF expansion? Looking for the moment to put those Euro bank shorts back on and I think it's coming soon.
They did a good job of packing toxic crappy deals that even the major ratings agencies finally called junk into Maiden Lane and then slapped a AAA rating on it. Voila - the bank balance sheets & capitalizations of the US FED member banks are fixed. Unless something has changed from previous incarnations of Maiden Lane (and now rue des salopes), they have a remarkable tendency for recycling and tricking down the credit improvement right back to the privately owned banks.
I'll say it again 103 years later. Merkel's Boner.
JUST A STEP TOWARDS EUROBONDS!!!
She basically caved and went in for a bunch of different fiscal transfers, some better disguised than others. Won't take the Germans long to figure that out. Some more local elections coming up in September.
But I'm more interested in whether Italy is supposed to help fund the EFSF expansion. Yeah that's how you stop "contagion", have the big, insolvent countries spend down more of their clout to fund bureaucratically selected "investments" in Greece, emergency bail outs of any failing bank anywhere in the Eurozone, and various other lovely things.
A lost million is a crime, a billion a tragedy, but a trillion merely a statistic...
Q: What happens to Greek CDS with this so-called arranged partial/temporary default?? Do they pay off or not? This nightmare is far from over...
The solution to Euro currency dilemma is a two tier system. One euro currency between two structurally different economic blocs is not feasible. Plus there now urgently has to be fiscal discipline and euro bonding. Now that the EU has gone totally central planned, they might as well go the whole hog and get it streamlined into a lean mean structure, with the south going thirty percent lower than northern currency peg. I don't know if they can save the banks in the meantime from a truly deserved wash out for being sons of Wall Street in the real estate bubble in Spain, Portugal, etc. The current political framework makes this scenario political pipe dream. There will be much more pain ... like elsewhere.
I thought it was EFFS...Euro?!?! For Fucks Sake!!!
This reeks of an IMF bailout funded by the US tax payor. How else can yo explain dollar weakness and euro strength.
>There are stories that EFSF might buy assets from the ECB at cost<
I just came in from ths sun and a tough day at the beach; so forgive my request for clarfication, and whether I am missing the bloody obvious...
WHAT assets? What real assets does the ECB have? The gold it holds on behalf of eurozone countries?
That's the only assets I know of. Shit, all the other "assets" are almost worthless euro-junk bonds from Greece, Ireland and Portugal. True?
They said this is a 1 time offer for Greece only that will NOT be extended to other countries. So the whole thing will just blow up again when one of the other troubled countries has a mini flare up. Surging Euro is a *hoot*.
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