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ECB's Draghi Explains His "All-In' Rate-Cut Move - Live Press Conference Stream
We noted yesterday that if the EUR got much stronger then peripheral Europe was going to lose much of its 'competitive' gains and while this is a notable surprise to many, we can't wait to hear how Draghi explains the decision given the world's insistence that Europe has turned the corner already... (which it clearly has not).
- *DRAGHI SAYS EURO AREA GROWTH RISKS REMAIN `ON THE DOWNSIDE'
- *DRAGHI SAYS EURO AREA INFLATION RISKS ARE `BROADLY BALANCED'
- *DRAGHI: MARKET CONDITIONS POTENTIALLY NEGATIVE FOR ECONOMY
- *DRAGHI SAYS UNEMPLOYMENT REMAINS HIGH
- *DRAGHI: EURO AREA MAY FACE PROLONGED PERIOD OF LOW INFLATION
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Fuck you, Draghi-bitch!
And fuck you, Bernanke-bitch!
Looney
Duly noted
I was just thinking that it was time for another press conference.....spooky huh?
so i will assume hugh hendry is very very happy....
None of this shit matters now because there's no more Muppets left to sucker and the consumer is tapped out even worse now with Obamacare!
This ECB rate cut is just spitting into the wind.
"This ECB rate cut is just spitting into the wind." +1 pure cosmetics. and that's the reason why it was so damn unnecessary. now excuse me, I have to follow the instructions of your avatar
The mere talk of "taper" brought the 10yr up 90% on months. Benocide sticks his tail between his legs and says "oops, no taper". The EUR has been rising as well, so what does Draghi do? Cut rates.
Seems very odd to me that the markets are wanting to price in the fact that this CB experiment is not working, yet the boyz are trying like hell to go against nature. This is the start of some serious intervention, because what comes next is either full blown default, currency reset, and bank holidays, or intense CB intervention to further try to control natural forces.
These fuckers are so stupid. This is not going to end well. Wonder if they even care?
Every dam has a limit to how much pressure it can withstand.
Why bother raising kids to become lawful citizens? Why tell them they should go to school, learn a profession and obey the system? Screw that! The system is fucked and the deck is stacked against them unless they cheat, lie and learn to steal. There is no honor in this society. The elite is stealing, cheating and lying and abusing the serves. From now on, they shall learn to "survive" at any cost. Nothing else makes sense anymore. The revolution is on and it will be carried by the next generation. Ready to deploy as soon as the elite makes the first move, which they will. In the meantime, take from the elite what you can. Nonstop. Fuck "honest" work for an "honest" days pay. Corruption pays. Know your enemy. We're going down into the sewer one way or another. Survival of the fittest and smartest is where it's at.
Lesson #1 : Don't eat and shit in the same place.
It's not about the consumer, it's about giving an additional 25 bps to euro TBTFs
Ignore the risks, put the peddle to the metal.
at least he is not half black....and his accent makes it somewhat more tolerable....just sayin...
Mario & Luigi: Superstar Saga Quotes :::: "Ow… Grrrr… Hey, wanna dodge this nut's attacks?"
Great stuff, MOAR just as Europe is coming "out of recession"
That's the right way to look at it. Agreed.
This reminds me of someone...
http://www.youtube.com/watch?v=FBg478jtpus
repost:pretaining to all in and keeping status quo
ponzi (defined)
all these systems in place have one goal-take from unsuspecting. all the word and definitions are in place to keep some kind of a red-blue debate while the masters of deception harvest by growth one more forced into the system to be harvested human.
harvested as in labor/time til death. if you are one of the fortunate humans to truely like what you do for money than you have truely beat the system...
or you gained eneough early in life and can live well within your means and understand moar IS NOT moar and DON'T have to work, but have a seMblence of life that keeps you happy and busy enuf - hedge horse and cog dis come(s) to mind...
VERY FEW HUMANS HAVE THEIR SHIT TOGETHER...
MOST BUMBLE THRU LIFE AND ARE CLUELESS AS TO WTF IS GOING ON AROUND THEM..tobe harvested humans!
you have choices and each individual choice adds up to whether you are harvested or NOT!
VERY FEW HUMANS HAVE THEIR SHIT TOGETHER...
Then maybe we should help them get their shit together?
German figures have being getting alot worse. This is why he cut, not the periphery which are already screwed
Really? Which numbers do you refer to? Exports are roaring. New orders increasing by 3% last month, industrial production October (adjusted flat, but higher for the year). National consumption is stagnant. But it's been like that for 15 years. Germany's growth comes from exports alone.
This doesn't help Germany at all. On the contrary. Germany's housing market in the major cities is in a bubble that reminds me of Spain and Ireland. Even more loose money is extremely dangerous for Germany.
The 0.25% is meant for the PIGS only. They're still struggling with growing unemployment and deflation due to collapsing consumption. This helps debtors, not creditors.
In any event, a retarded policy by Draghi. Now there's zero firepower left on the interest front. What if fundamentals get weaker still? Abenomics next? The € is fucked.
They killed the Club Med middle class and it won't come back to the table. Even if they wanted to, the banks aren't lending to unemployed Greeks, Italians or Spaniards.
Rate cut won't create one single fucking job but it will drive stock markets into hyperdrive. Markets are due for a correction because of "taper" and "earnings outlooks". At least markets would have stalled for a while. Now they're going to the moon but the money is worthless. The only reason the markets are going up is because there's nowhere else to put money. Has nothing to do with fundamentals.
Most people don't own stocks, don't want stocks and don't participate. But they will feel the real hard negative effects of currency devaluation.
This is the stuff revolutions are made of.
Sepur Merio Draghi
Somehow Mario reminds me of Sven Goran Eriksson being caught naked on the couch by the husband...Mario's time for getting caught is approaching fast...
"We soon found ourselves naked on the sofa," Eriksson explains in the Norwegian version. "She had not said anything about being married but suddenly the door opened and there was a big man: 'Who the hell are you?' he said. I said: 'I think it is probably best if I leave,' and he replied: 'I think it probably is."
http://www.theguardian.com/football/2013/nov/07/sven-goran-eriksson-book...
This is nothing. Piece of cake. There will be nothing allowed to get into the way of Miss Mielke, err, Merkel before the new Bundestag has elected her chancellor again. And, of course, the Sack from Goldman, Draghi, knows that all too well.
Race to the bottom.
Over.
No. Synchronized diving.
when the fat store is all used up the cells feed on each other as last gasp...
Maybe this time will be different?
Probably not.
Oceania has always been at war with Eurasia.
or when the maggots emerge and all (life giving matter) is gone they transform to bankers and search the next steaming pile...
blah, blah, blah. same shit from another goldman shit.stick.statusquo.org
all lies to game the gameable sheep trapped in THEIR system.
resist, fight, disobey, resist moar. OPT OUT...
I could make it a very short press conference. Bankers wanted more money. Questions?
The robbing of the bottom 70% continues
Steve Leasman loves this guy. Flaming prestitute.
+1 for the term "presstitute". :-)
That there would a Gerald Celenteism
do yourself a favor for yourself(not me)- turn off the idiotbox...
At least he's hinting at the state of the economy there.
But he's providing the wrong solution.
Can't wait for the whole thing to implode. It's going to be EPIC!
Draghi says SFA
The wheels on the bus go round and round... round and round... round and round...
Then they fall off.
The driver of the bus says Fuck You Kids!... Fuck You Kids!... Fuck You Kids!
The driver of the bus says Fuck You Kids!
Then lights another cig
Hmm looks like recovery!
#hotIPO
Hot steamy loaf
So yesterdays 'no rate cut' was wildly bullish....todays 'rate cut' is even moar bullish.
Sure glad I just gave up long ago, there's no front-running these last-gasping lunatics!
*DRAGHI: EURO AREA MAY FACE PROLONGED PERIOD OF LOW INFLATION
Absolutely FANTASTIC news......
Bring on deflation, even better!!!!!
Into the Charybdis it is then.
+1
Sadly, the banks do not feel the same way.
"Sir, are you or are you not completely full of shit?"
"I would not want to prevaricate by claiming that I am not at least partially full of a some kind of fecal matter, but the level of that fecal matter is yet to be determined at this time."
And so, since the "Euro Area growth risks remain 'on the downside' 'unemployment remains high', and they have a 'potentially negative economy', stocks are leaping HIGHER as a result! Is logic, reason, and risk so foreign to these people in the financial markets, that they ignore all reality?
Short answer: yes
Longer answer: something about an Upton Sinclair quote to the effect that they are well-paid to ignore reality
"The official declaration of the European hegemony of “bankcracy” with the signature of Mario Draghi, is now a fact. The European Central Bank, ECB, becomes the absolute dominant, through the unlimited purchase of government bonds in eurozone, and the Frankfurt bankers are preparing for their biggest party so far. As expected, the bank-occupied media rushed – once again – to crow."
...
http://failedevolution.blogspot.gr/2012/09/lea-jacta-est-by-emperor-drag...
These bankers need to be put against a wall and shot. They're not stopping until we're all dead otherwise. How many people are going to suffer terribly because the bankers are meddling with currency? The means of exchange between goods and services should not be under their control.
I don't want to buy fucking stocks, bankers! Get it in your fucking head! I don't want to consume more and more just because the money I earn is worth less and less every day! What is the fucking point to all this?
FUCK THEM ALL AND DO OUR KIDS A FAVOR!
+1 Fuck Paper!
Seems to me everyone is reflating in one way or another. Australia, Canada, Japan, England, Europe. BUT I guess the U.S. is soooooo strong further easing is not necessary, in fact U.S. must restrain growth with the TAPER.
Selling gold here is ridiculous unless one believes the deflationary spiral will be allowed.
.
Prolonged period of low inflation "and rising prices"...
Here we go with Currency Wars at its prime:
James Rickards - Gold, US Dollar And Future of Money 2.0
We would like to share the great insights into the monetary system its limits and Gold from the author of "Currency Wars". http://sufiy.blogspot.co.uk/2013/11/james-rickards-gold-us-dollar-and.html#
Jim Rickards – Why China is Buying Gold & Calling for a De-Amercanized World GLD, MUX, TNR.v, GDX
"Jim Rickards steps in with his analysis of the recent China Call to De-Americanized World and its implications for the Gold market. China buys Gold by tons now on the dips and taking the physical delivery."
Keynesian logic when it gets serious you have to go full retard. Just look at Abenomics over in Japan.