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Egan-Jones Downgrades Germany From A+ To A, Outlook Negative
The more you try to shut them up, the more they have to say...
Just out from Egan-Jones
4/17/2013: Federal Republic Of Germany: EJR lowered A+ to A (Neg.) (S&P: AAA) (3413Z GR)
Although Germany's credit metrics are respectable, the country has exposure to its banks and the weaker EU members. Deutche Bank has adjusted shareholders' equity to asset near 2% and might need EUR 100B of support. Via the ECB's Target 2, Germany is owed EUR700B of which perhaps 50% is collectible and then there is the banks' southern EMU exposures. Germany's debt to GDP was 80.6% as of 2011. However, increasing Germany's debt by EUR500B raises the adjusted debt to GDP to 100%. The deficit to GDP of .8% is reasonably strong. Unemployment is 6.9% but will probably rise as global economies continue to show weakness. The positive (EUR16.8B) balance of trade (per GFSO) and the positive EUR5.59B current account (per the OECD) help. Inflation has been moderate at 1.4% (per GFSO).
Chancellor Merkel continues to resist calls for EU bonds (shared liabs.) and money printing and is pushing for fiscal controls and the seniority of bailout funding. Germany is likely to be outvoted by other ECB members and therefore will have greater prospective exposure. Watch for the EFSF and the ESM morphing into banks (thereby depressing eventual recoveries) and a rise in the number of euros. Watch progress on the EU banking union. We used the IMF's data for Germany's debt which is greater than Eurostat's data. Downgrading.
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well that was good for a whole half a 32nd tick in bonds!!
Synopsis: "I'm not satisfied with being persona non grata in just one country!"
Time for a false flag reichstag fire.
Germany's credit is still good enough to buy a Toyota.
All you need is a used shotgun.
EJ - only rating agency with ethical balls!
Swine-hella Merde-kel is following on the footsteps of Hitler:
http://www.foxbusiness.com/news/2013/04/16/german-state-rhineland-palati...
Tax evaders and gold hoarders to be sent to "re-education" camps.
I thoght Sean Egan was on double secret probation and not allowed to issue ratings.
"Everything is under control!"
Uh uh ... here comes Godwin's Law again.
Never fails.
Watch out! AUDUSD carry trades unwinding, 1.03 now
1:1 soon
Say it with me, Ghordius...
Eurobonds, bitchezzz!!!
Thanks, No, thanks
Wall Street and The City can go fly a kite
Funny how it's them pushing most for a integration...
And banking union ain't something to be... rushed. And completed soon...
...but completed it must be.
Ballroom Blitzkreig in 5...4...3...2...
~
http://www.youtube.com/watch?v=LmCIe2VEOtE
Blitzkreig Bop in 5...4...3...2...
~
https://www.youtube.com/watch?v=TYh1lRR1m6Y
Armageddon Days Are Here (Again)If the real Jesus Christ were to stand up today
He'd be gunned down cold by the C.I.A.
Oh, the lights that now burn brightest behind stained glass
Will cast the darkest shadows upon the human heart
But God didn't build himself that throne
God doesn't live in Israel or Rome
God doesn’t belong to the yankee dollar
God doesn't plant the bombs for Hezbollah
God doesn't even go to church
And God won't send us down to Allah to burn
No, God will remind us what we already know
That the human race is about to reap what it's sown.
Matt Johnson- 1989
Only the faces have changed.
http://www.youtube.com/watch?v=lel0PzhU6Pk
"Luuuuuuke. I am your Father-lander...Luuuuuuuuke.....Luuuuuuke....
A preemptive strike?
http://www.zerohedge.com/news/2013-04-17/boston-bombing-suspect-arrested...
Absolutely NOT necessary.
Don't they usually wait until Friday afternoon after the close to downgade countries? Oh yeah this is Egan Jones.
Why does Egan Jones remind me of this ....
"That's when I fell for ..."
http://www.youtube.com/watch?feature=player_detailpage&v=McvWodRXA7k#t=28s
"The SEC was always putting him down, down ..."
No sauerkraut, and schnitzel for Egan Jones this Christmas.
ah 2006 and the "let's put some lipstick on this pig and get her out the door" salad days. sorry about that (insert small town in somewhere, various pension funds....wow, that guy was buying?!, etc...) here.
Let's stop beating around the bush and simply mark them all as Junk Status.
http://sprottmoneyblog.com/
Bullish bitchez, buy buy buy, house of pleasure.....
Downgrade is synonymous with upgrade, right?
Uh-oh. France is about to be over run with Panzers in retaliation. Sucks to be them.
Too bad the muzzled you on the U.S Egan
Yeah but will this or any other news actually bring equities lower for a second day in a row, tomorrow? Would have to see it to believe it. Cover shorts now.
I can only presume the Egan Jones will now be tagged as some sort of terrorist organization.
They already were harrassed by the SEC, maybe stronger measures will be needed this time...
he rude! Drone that nigga!
It all makes sense now. Eagan caused the gold crash when it took a page out of the Fed's book and leaked its downgrade intentions to every hedge fund under the sun last Thursday. Reason for the downgrade: Germany can't get its gold back from the Fed and is therefore overstating its value on the asset side of the ledger. Ha. Ha. I have written funnier.
On a more interesting note, Chris Martenson and Mike Maloney did an impromptu interview to discuss the crash. Chris lays it at the feet of a scramble to prevent the revelation that Germany's gold can't be returned or otherwise as a precaution that a few more countries will repatriate and that really will expose the notion that all of the gold has been leased out 20 times over.
http://www.youtube.com/watch?v=_u2wkW4tYEg
I thought Egan-Jones had been declared an "assault weapon" in an executive order somewhere...
Or maybe it was the Feinstein "list"...
No one will care because it is Egan Jones, and they (at least somewhat) tell the truth. That isn't really popular these days...
YOU CAN'T HANDLE THE TRUTH! YOU NEED ME ON THAT WALL, YOU WANT ME ON THAT WALL.....
Sorry got a little carried away.
bernanke has a lot of printing to do the next 2 days if he wants a positive week.
we will prob be down after today a total of around 315 on the dow for the week, and 45 on the s&p for the week, and nasdaq around 115 or so for week.
we shall see if bernanke and his criminals start printing the next 2 days.
i hope this is the beginning of a major crash
these pm miners will all be at zero by Friday.
Free gold mines! Excellent! I'll take 2 please.
What are the margin requirements for something trading at zero?
Deutsche Bank and Allianz have risk profiles to astound, but Paul Achleitner knows both very well and has just been told by BAFin to remove his Chief Legal Counsel and replace him with a German speaker. There are changes on the Aufsichtsrat because Jain has quite a few problems ahead
As Adenauer used to say: was kümmert mich mein Geschwätz von gestern. So move along!
They will not be welcome in Davos next year.
Links to egan jones and boston in 3..2...
Egan's an Irish surname. Boston has the Irish mob. Sean Egan is thus linked to Boston.
You can thank me later, feds.
Boston Irish? Hey wait, didn't they used to bankroll some organisation who planted pipe bombs in public places? Just asking.
another brilliant finish coming up....and we have cheap energy now!!!!!!
Guys, Today my message is one of hope...I'm sensing a possible turn of the political worm..but for many that may not be so good...but as for me, I could sure use some sanity for a change...even if it means a tougher life to live in some ways...simplicity might be waiting in the wings...and I sure hope I'm right especially this time! btw, check the record, I was one of the few to catch this stock fall with near perfect timing....bought SDS 3 ticks from the low yesterday...and took profits on that trade today...even a blind hog finds an acorn sometimes...lol
"Das wurde aber auch verdammt nochmal Zeit, ihr Penner!"
Translates roughly to: That was about time, you dorks!
SLW Apr 22 calls....load up baby... big bounce tomorrow morning. Sell the ZSL calls from yesterday and cover your SLW short and go long Apr 22's until noon tomorrow....
buythedipbuythedipbuythedipbuythedipbuythedipbuythedipbuythedip
Ihr Bastarde!
Vorsicht,ja?!
Long live gold!
selltheripselltheripselltheripselltheripselltheripselltherip
Off the lows .. Off the lows ... Well off the lows. Clown News?
Entschuldigung Mr. E. Jones, Downgrades sind verboten....
Well the PPT tried to pull it out today...but were not very successful...nay,nay...I ain't buying nuttin'...selling is the side for at least now....
Watch out for the 800lb gorilla in the room, Italy is giving a try to elect a president, no one cares, but.....might boost the spread. The aftermath will be interesting, Egan J. should do some homework.
They might as well have said Merkel is an unfuckable lard ass.
Now feel the wrath of Merkel's thigh's on skinny Egan Jones' torso....not a nice image
in her EveningVare...
Merkel may not like shared liabilities and money printing but she isn't STOPPING it.
She will never do so, perché è culo e camicia con Mario D.
\EJ/
I'm so confused now; is this bullish or bearish?
Chaise Longue.
Regain AAA. Return to the Deutschemark.
I would go for the Reichsmark
This is bullshit.
Not the post, but the analytical ejaculation from EJ. Some shorting haircut blew a fuse with higher up equity jockeys and they're lashing out. Repatriation, respective conservatism in comparable models and industrial/manufacturing data doesn't support this.
Fuck off Egan-Jones
China, Germany...Boston...what happened to de-coupling?
Relatively speaking, I agree totally! But never forget that nasty word...politics!
If they assigned real ratings they would be know as Egads!-Jones
American Express down after the close...
EBay...down hard after close!
Too bad (if you are short) that nobody gives a shit about this rating agency.
So true.
Which will only make it all the more fun.
Vaya con dios amigo!
May be wrong...but the worm seems to be turning...I see distribution!
A for Germany, AA for the US ...
Liar!!!
All of the western countries are FFFFFFFFFFFFFFFFFFFFFFF .....
At least he US can just print more! Gemany...has to ask the little countries to print moar!
Excuse to print Euros?
It's like a global ticker tape parade!
Maybe if it were read by Lord Farage
sound like the kinda news to lower 10Y bonds (if i'm correct with the uber financial nonesense of these days ?)
Ben,German Banks need more money!eom