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"Whatever It Takes": European Corporate Results Crater Thanks To Strong Euro
Talking-heads and commission-takers have momentum-chased clients' hard-earned money into Europe's 'what works now' markets - on the basis of what has now proved to be entirely fallacious macro- and micro-fundamental improvement (as we noted here and here). But, while "whatever it takes" has smashed bond spreads lower and has blown stock prices higher; most critically, the 'confidence' has seen the EUR rise almost 15% against the USD from its July 2012 "whatever It Takes" lows. The effect of this EUR strength is to collapse earnings growth expectations as European competitiveness is crushed (core or periphery). Of course, bulls can rest assured, as the following chart shows, 2014 is expected to hockey-stock back to record EPS growth (just like 2013 was supposed to?).
So it would seem, "whetever it takes" now means - jawbone the EUR down whenever we can... (and we wonder what that will do to US earnings as the USD is ramped)...
Source: UBS
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you know... that shit happend AFTER MY VACATION TO AMERICA!!!
I paid the full pot for my dollars...
And it happened BEFORE my trip to Europe......
Just imagine what would happen if all the transactions were in a currency that couldn't be messed with centrally. Just imagine...could actually do some business and make something weird called a 'profit'. I know it hasn't been seen in 100 years with the gross level of subsidization, but never know, weirder things have happened.
So weary of this ongoing clownshow.
I don't know...
you remember those charts with all those flashy colours back in the days? like a few months ago?
this chart... uses the autumn colour pallet....
I feel a dark cloud gathering...
Yes, europeans must just hate it when their wages and savings maintain purchasing power.
/s
we do...
you Americans always get the best of luck with your ever decreasing purchasing power....
and it counldn't have happend at a worser moment...
the holliday season...
people... will be able to spend less... and get moar....
THIS IS NOT WHAT CHRISTMAS IS ALL ABOUT!!!
CHRISTMAS IS ALL ABOUT FOOD DRIVES AND HAND OUTS AND THE SALVATION ARMY....
Oceania has always been at war with Eurasia...except, occasionally, during Christmas.
Raging Rudolph – Italian version
Santa Gets Arrested - Jew version
Enjoy the shitbag fucks who want you to sit home unemployed for the state. They rolled out the plan some 10-15 years ago with the UK & EU.
They think it's bad now...
Wait until Jan gets cranked up, that will finish it off. LOL!!!
Why are financial estimates from wall street EVER be used as forward guidance by main street people. These assholes dropped 2013 earnings from October 2012 while they ramped 2014 earnings. November 2013 is really egregious. Yet, the CNBC, Bloomberg and Fox Business talking heads will be using 2014 earnings estimate to convince main street people to BUY while wall street SELLS. Finally, wall street will laugh on TV telling everyone that once again the retail market bought the high.
Everybody LIES!
I am sure we will see ECB crank up the printing. This is a currency war afterall.
Euro climbs higher as unemployment in Europe continue to break already record highs.
Fuck, I love this planet.
Sounds like the 2013-2014 version of Napoleon soldiers dying in Russia because, no one would accept their Euro trash currency to feed or house them from the bitter cold.
/sarc
Europe needs their own version of Abenomics to regain the lead in the race to the bottom.