Watch The Portuguese Parliamentry Session Live

Tyler Durden's picture

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Pool Shark's picture

 

Remember Portugal; follow Iceland NOT Ireland...

 (Just say "no" to the banksters...)

 

metastar's picture

Did that woman on the lower right just give Europe the finger??

snowball777's picture

I think she's half-way through simulating the fisting that the IMF has in store for the EuroZombies.

Aengrod's picture

I'd still hit her, Mhmhmh redheads :)

Long-John-Silver's picture

I can't stand watching train wrecks in progress.

Dave Thomas's picture

Don't they take four hour lunch breaks in Portugal?

barkster's picture

ever notice that the portugese language sounds like russian....

monmick's picture

OK, what did Benny say to make the US markets shoot up?

moldygoat's picture

no shit, zoom up with no apparent bad news.

John McCloy's picture

Stored Pomo cash from earlier in the day. I cannot see how buying equities in this market as June closes in and oil rises as doing anything but throwing money down a hole. 

Frank Redner's picture

I guess holding cash is like throwing money down a hole. Holding stocks will at least keep your value or outperform.

LRC Fan's picture

Right.  I think going forward it's PMs (physical obviously)>>>>>>stocks>>>>cash>bonds.  Holding stocks isn't the worst idea ever, it certainly beats a savings account and most likely bonds as well. 

For all the hysteria around here about PMs, if you bought stocks back near the lows, you are doing very well and could quite easily cash out now and get a nice amount of PMs.  But with stocks it's going to be all about timing.  They could blow up at any point and crash hard.  I don't see PMs going down any time soon, if ever, at least not physical.  Paper might crash but physical most certainly won't be going down substantially for a good while, if ever. 

Also you can't really "run out" of shares of stock, there will always be plenty for you to buy.  Physical PMs, not so much.  So yeah PMs rule, but stocks have been going up for a while, and every time bad news comes out they seem to charge higher and higher.  Yet we all act surprised, even though we know it's all due to Ben and the BoJ and everyone else printing up shittons of fiat. 

Disclaimer: I am short the market, and have been for about 2 weeks.  Hoping for a huge plunge so I can cash out and buy more PMs...but I am done putting on shorts for now and simply buying up PMs every week or so as I can afford it. 

snowball777's picture

That's it...live dangerously.

Rodent Freikorps's picture

Remember that story about a guy going over a cliff, knowing grabbing a blade of grass won't save him, but he still has grab that blade of grass?

DosZap's picture

Er', Scuse me.

HOW much more bad do you want?.

Get ready, your going to see BAD.

Long-John-Silver's picture

The Discount Window just opened so Blythe can buy more counterfeit Silver contracts.

Silver is about to breach $37 an ounce.

fuu's picture

Spot just rocketed to $37.09.

LowProfile's picture

Silver makes a higher high, but gold fails to do so...  Hmm...

Be careful, or just buy and turn off the computer until you have more cash to buy PMs with...

Threeggg's picture

"but gold fails to do so"

Thats because they are using Silver as a proxy too keep Mom and Pop off of Gold.

It's kinds like "Hey ! Look over there, is that a Toucan"

@ least until they can get Kadaffys stash !!

Dr. Richard Head's picture

It was, of course, a flight to safety.  PE on these stocks are a perfect buy opportunity.  You don't want to miss this opportunity to buy.

Zero Govt's picture

Monmick  "..markets up.." ...down 7% since Feb, you looking at the same markets as me??

SheepDog-One's picture

Theyre just typical americans with their 1 hour avg attention span. Nevermind markets are actually way down for the year in purchasing power, the green flashing stocks is highly hypnotic to the talking monkeys.

snakeboat's picture

Few of us are typical.  Most of us are very susceptible to MSM and Govt messages, tho.  Jury's out on who makes it to the finish line...

monmick's picture

Bernanke was speaking at noon today. Have a look at the daily charts for the Dow, Nasdaq and S&P...

swissaustrian's picture

muito obrigado

Anybody capable of Portugese?

Zina's picture

Só não faço a tradução simultânea da seção do Parlamento pra vocês porque no computador onde estou no momento não tem caixas de som...

Tulli's picture

Também não há muito para dizer. Aquilo é basiacamente o Louçã a dizer que o mundo vai acabar, o Teixeirinha a afirmar que fez os cortes por "lealdade" e a Ferreira Leite a dizer "eu avisei"

Porreiro, pá.

gwar5's picture

I thought it was ombrigado, but I see where both are wiki'd.

Went to Brazil and picked up a little, but it wasn't the language that I picked up.

Zina's picture

It's obrigado, without "m".

By the way, the Japanese word "arikato" (or arigatou) originated from the Portuguese "obrigado", through the contacts with the Portuguese navigators in the 17th century.

See? There is a clear conection between Fukushima and what's happening in Portugal!

Aductor's picture

As European markets close for trade, the US markets goes lala-land. You can rely on the casino.

Tulli's picture

Portuguese PM announced a few minutes ago that he is meeting the President at 19.00 and will come on TV at 20.00 GMT for a statement.

Here's the skinny: Government falls today. Portugal has less than 4 BN EUR in cash and has to pay over 4 BN EUR bonds early in April.

Without a Government, POrtugal cannot request a bailout.

Elections will take 2 months to call, plus another 1 month for the government to take office.

Really cool.

Alternative: the President appoints for a "presidential initiative government" without elections, sending democracy to the bin, mandating this new "salvation government" to get the bailout, drinking the kool aid.

Total fiasco.

Meanwhile, Constancio at the ECB will keep on extending "support" by purchasing more debt.... to pay for debt.

Coolness.

 

Negro Primero's picture

Here's another link, "Porto TV"... seems to be working fine right now:

http://wwitv.com/tv_channels/b6008.htm

Oh regional Indian's picture

Portugal implosion could be the nudge that send Spain into the craphouse.

Or rather, trouble in portugal might bring about the realization tht Spain IS in the craphouse. It's a watch this hand, no that hand....no no, the other, other hand....

ORI

http://aadivaahan.wordpress.com/2011/03/22/interesting-times-sweet-validations/

DosZap's picture

I just wanna know WHO's on first!

X. Kurt OSis's picture

Who's watching the ramp job in US equities right now.  Citi just covered its short in euro-zone sovereigns and its prop desk just re-allocated proceeds across its book.

 

JLee2027's picture

All sing together now "kumbaya"

X. Kurt OSis's picture

The bloomberg, the Warren Buffett and the Tim Geethner just told us the US economy loves black swans... it's the new national bird.  The eagle is endangered.  We have set up an unlimited supply of black swans. 

Who thinks its snowing in lower Manhattan today?  Its a flock of black swans sprinkling us with their radioactive BTFD dust.

Be on the right side of this trade people.

Dow 20k here we come.

Zina's picture

Ai Jisus! 'stamos a afundar... E daixamos a bóia no Porto!

Tulli's picture

LOL! mas olha, mandar o Socrinhas plantar couves é uma óptima ideia.

Quanto ao resto, venha o bailout - pelo menos alguém terá mão nesta m&r$a.

Zina's picture

Com o fim da carreira política, Sócrates agora pode voltar a carreira de filósofo na Grécia ou de jogador de futebol sênior no Brasil...