The Germans, Italians, French... Most Of Western Europe On The Brink Of Bank Collapse!

Reggie Middleton's picture

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chinawholesaler's picture

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aleph0's picture

Hey Reggie,

maybe they're going to use ( what's left of ) the German Pension Funds to bailout the banks :

Schäuble is (provisionally) calculating a new "Retirement Age"  : 69

http://www.welt.de/wirtschaft/article13597978/Schaeuble-laesst-Rente-mit...

 

I wish he'd do the calculation for 73 , it makes the swindle so much easier to understand !
;-)

Itinerant's picture

It's the mother lode, something completely different than mother load.

how to trade armageddon's picture

I'm wondering Reggie what's your take on this oft-quoted number that Eurobanks had already completed 80% of this year's funding by July. Sounds to me like something some sell-side guy who doesn't know jack just made up. Why would 80% roll over in the first seven months of the year. Maybe what actually happened was they accelerated short-term borrowing in Jan-July to compensate for lack of longer-term offers and deposits? And now ...

bankruptcylawyer's picture

reggie you da man.

i only hope youre getting rich off this.

 

are you supporting obama or ron paul? 

g's picture

a most excellent question, do tell

Zero Govt's picture

any person 'supporting' a politician is a bit like a moron following a retard ...the 50% of voters that vote are actually borderline delusional-insane, the ones that don't vote "because it makes no difference" are correct (realists)

sun tzu's picture

The US banks were close to collapse until Timmy and Benny rode in to the rescue with taxpayer funds and inflationary policies. The same will happen in Europa

Zenster's picture

Thanks for the article.

gookempucky's picture

Geithner should be REGGIES BITCH period---get my coffee son and just one cube of sugar...oh and take the trash out while your at it.

sodbuster's picture

Then Timmay would be sitting out on the curb!!

anony's picture

Anyone who has actually visited European countries who comes away with the notion that Europeans are anything but near Third World status has had too much wine.

I haven't seen such sad looking people since my last trip to Detroit, Compton and Harlem. These are susbsistence only countries, forget success, progress, and wealth for anyone but the top skinteenth.

Reggie Middleton's picture

Harlem has more millionaires within its confines than at any time in its history due to gentrification (socio-economic, not racial). Take a trip to Red Rooster off of 125th and Lennox, where the Obama family dined a few months ago and look at the upper middle class, highly educated, pretty people crowd that you didn't know you were speaking of.

sun tzu's picture

I'm sure some parts of Harlem have gotten better due to gentrification. The same can be said of areas in Brooklyn. It is still generally an impoverished area compared to the rest of New York

Reggie Middleton's picture

Brooklyn contains some of the most upscale portions of the NY metro area. I live in a part of Brooklyn where 5,000 to 12,000 sq. foot, landmarked (100 yr old and up) mansions are the norm, not the exception. There are many parts such as this, Park Slope, Brooklyn Heights, etc.

Below is a listing of two townhouses in Brooklyn, the first is Brooklyn Heights, which has been upscale for several decades, the second is Fort Greene which was considered by many to be a veritable ghetto just 25 years ago.

 


Brooklyn Heights
69 Willow Street Info | Photos | Floorplan  Townhouse 5,800     $5,750,000
             
Fort Greene
181 Washington Park Info | Photos | Floorplan  Townhouse 4,400   5 floors $3,450,000

These are townhouses (brownstones) that require phycial maintenance plus all the trappings that go along with home ownership. Many consider this level of home ownership wealthy, and this is the face of much of Brooklyn, where many Manhattanites go when they have more than one child.

Those of you who adhere to ideas of what's going on versus what is actually going on will get hurt, whether it be real estate, banks, Global macro issues or even the mobile tech wars. Adhere to the facts, all of the time.

how to trade armageddon's picture

No, there's no way you could call today's Harlem "impoverished". Property values are obviously less than lower Manhattan but well higher than NYC average. Incomes are probably about in line with NYC average, with a very wide range within Harlem itself. These days the NYC disaster zones are well out of Manhattan and mostly out of NYC itself, in places like Hempstead and Newark.

ReactionToClosedMinds's picture

am another 'close to subscribing' person (issue: have other subscriptions already ... gonna have to stop something else ...so there is the foot drag) Go read bio of Andrew Mellon (quite good on multiple fronts ... e.g., art market, AM's clearly precocious financial astuteness & biz sense especially new trans-formative technologies/biz models ... rarely went to public markets interestingly - did not want to reveal anything) Point: after Fall 2008 realized 'this time is different' so went on panic read: many deep econ tracts, treatises, classics (strongly recommend J Schumpeter), historical analyses. But the Mellon bio gave me best timeline feel of the ripe instability from 1929 market crash which did not cause great depression to waiting slow roll of Creditstaldt collapse in August 1931 (Summer?) due to French/Brit fears Germany & Austria were about to enter into (verboten by Versailles Treaty) customs union ..... slow domino tumble started ... all Euro land banks went down then spread to USA banks as gold was king ...for awhile ...as countries dropped gold standard to stop gold redemption which US ultimately forced to do You should study this in detail (Summer 1931 through end of 1931 60 day bank run around December that started Depression ... the comparison to present is too eerie to articulate here .... different circumstances and specific dynamics ... but broad comparable dynamics at work then and now

Are you kidding's picture

I gotta agree...so?  Blacks with money...it doesn't change what's inside.  It's the last place I'd want to eat in NY.  Sorry...but we don't want you around.

Cui Bono's picture

I don;t know who booked your vacation package but you gotta fire those bitchez....

andybev01's picture

Thank you for the laugh!

Nozza's picture

Thanks Reggie

Alway good to read your insightful and detailed posts here

Lol

Noz

Manco's picture

Thanks for telling it like it is Reggie!

nah's picture

BASTARDS BITCHEZ!

lynnybee's picture

I can't rest, I WON'T REST until that s.o.b. ROBERT RUBIN is behind bars .

anony's picture

Then plan on a lifetime of staying awake.

The jews of Wall Street are Untouchable.

Moe Howard's picture

Thanks for the article.

the not so mighty maximiza's picture

gotta start thinking in positive terms, its not collapsing its being reborn.

zorba THE GREEK's picture

In the long run, it is better for both the EMU and Greece for Greece to fail now

and for European banks to be recapitalized. Debt problems can never be solved

by more debt.

Robslob's picture

LOL!

 

Stingy bastards...seems like we are all going to have to be stingy for awhile Reggie

 

As always...Fantastic research and follow through...yes, I may even subscribe!