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And (Long Overdue) Scene: Belgium Downgraded By S&P From AA+ To AA, Outlook Negative
The dominos are now falling daily, if not hourly. We give AustriAAA a few days at the most.
Just as we hinted earlier in the week when the Dexia deal started to crumble, it seems a major driver of the downgrade is the country's financial sector risk.
The spread between Blegium and France has legged wider as Dexia has deteriorated - its seems if there is any risk transfer this will change but at this rate, only France will be capable (and even then not really).
And as a comparison, here are the German, French, Belgian, and Italian yield curves.
Chart: Bloomberg
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End of trading day in Europe... now it's time for the real news.
It will be very promising the next week :) I can not wait for European markets to reopen.
Can anybody tell me why I am seeing (via CNBC) children on the floor of the NYSE? Jesus, I'd rather have my kid alone in a smoke filled bar with ppl that work for the city.....;.It would pry be safer for them.
Are they being held as collateral?
How so?
They are already levered 60x.
"Look Jimmy, these are the people that have sold your generation to the Chinese. On we go the Capitol building to see the other half of America's finest, come along now..."
Corzine's using them as human shields.
those are the oldidorks grandkids being shown how to screw the 99%ers!
Ya.
The parents in this case need Baby Sitting.
"When all else fails it's time for more bunga bunga!"
Sylvio 'Bunga Bunga' Berlusconi, 11/25/11, Emeritus In Exile
I have a feeling that next week will be a killer for sure.
The world's outlook is negative - after all... BITCHEZ!
If no one is AAA anymore, does that mean AA is the new AAA?
No. It just means gold is the only AAA asset left.
The real question is when do they outlaw credit reporting?
I expect some ratings agency execs to get pepper sprayed any day now. It will be "for their own good"...lol.
Hear about the woman pepper spraying people in line ahead of her for the deals she wanted?
Battle for Black Friday deals includes pepper spray, shootingsThat's the kind of determined gal to do your last minute shopping for you.
Whats wrong with her use of pepper spray the police use it all the time and no one gives a shit , hell she should have a tazer, dead sheeple are good sheeple
Yup. Too funny. I heard a report that somebody was at Dick's Sporting Goods at 5:00 AM. Place was empty except for the firearms dept.
CASH HOARDING!!!!
That would put the EFSF back in the run which would really make this a farce. So the answer is.. probably.
Furious Fiat Fail, Bitchez!
The ratings are falling like rain
Unleashing some Eurozone pain
But what can I say
About French triple A
The CRAs may be insane
Don't stop believing...cut to black.
At least they'll always have van Damme.
And they still make wonderful gold-foiled covered chocolates and truffles.
Don't forget the pedophiles.
And great beer......
Let's not forget their waffles. Where would the world be without their waffles.
Every time I close down the bar, I stumble over to their house for breakfast.
There´s also Tintin and the smurfs. Maybe the hollywood movies will bump album sales and thus Belgiums economy. I´m going long. Future is bright.
even european batteries have been downgraded from AAA to AA!
I've never understood why AAA batteries are smaller than AA batteries.
And where are the B batteries? They have A and C.
I guess its because asking for BBBBBbatteries could get a bit confusing and silly.
If this is true,how come the dildo's there are getting bigger...?
And who will fuck them next....?
So many questions,
So few A's........
The circle gets smaller as it circles the toilet bowl.
The wheels are coming off now,
BITCHEZZZZZZZ!
Wars = Force Majeure... Just a matter of time.
Hey permabulls, just wonderin....is that bullish?
Yes, yes it is. Absolutely everything is bullshit. Oh, wait, bullish... erm... I'm sure it is for Robo in some sick yet to be announced way.
Belgian Waffles still AAA, French female armpits -CCC
French female armpits -BO....
CNBC is reporting that S&P downgraded Belgium due to concerns over financial stability.
No Shit
Dang! No WAY!
CNBC,Smart like rock.
There is a cognitive dissonance with Tyler that I cannot resolve.
On the one hand he has declared the ratings agencies to be a total farce, on the other hand he jubilantly and rejoicingly announces every and any of their downgrades.
There is something fishy here, something seems just not right.
Caveat emptor, bitchez!
The ratings agencies are full of it, but they are, now and then, leaking some of the truth...
The preacher gets excited every time one of his sinners converts...
Well Franken, the markets are also a farce, but I'll also rather see them red then on another full-retard tear up.
My view is that we want them to do their job. If they do what we know to be true then they should be acknowledged for doing the right thing. When they maintain the bullshit either for fees or to keep from making waves then they should be called out.
I think rejoicing is from the ratings agencies actually having to admit in a small way that the sovereign finances are getting worse, even though they don't want to. It is still a farce in that the true credit ratings should be much much lower.
It's like the ratings agencies are the referress in a fixed game. You hate them but you can't help but rejoice the few times the call goes your way.
Franken, it really has more to do with the fact that you're a flaming idiot, rather than any spin you "think" Tyler puts on anything he reports.......
Keep posting, tho- it's like watching a black hole........
Their Stable has all Four-in-One: as for you . . . you've only ever had hobson's choice
there is no eenie. Only Meanie
likewise there's never been a mine either, although minus is close
as for mo . . . over 300yrs of it under them, The Big Momentum increases to the extent that-- false choices, as with its underlying dialectic, hegelian or otherwise, {although a shizophrenic Is stuck with its dissociative splits|and whispering antitheses} again and again do seem to arise just before each and every Post-Time --every bookie,bettor,tout&tipster believes in any such a thing as a stakesrace at Rothschildt Downs . . . round'n'round, a mere merry-go-round, it's long-past time to know that when it comes to anything close to racing, roulette or runnin-in-circles in all their own casinos, totally owned, there are No numbers, entries, chances nor thoroughbreds, double-negative, beyond 1. Big Winner.
zero
otherwise, denying the obvious, keep betting it's an itsy-bitsy teenie-weenie . . . and you have eenie odds
__It's Now Post Time: nonetheless__
The message is: bond ratings are a reflection of how well a local government successfully suppresses working class and popular revolt.
That is lesson 1.
http://www.counterpunch.org/2011/11/24/meet-the-global-ruling-class-2/
Tyler is right in saying the rating agencies are a farce.
And reporting on the Agencies rating Downgrade,well ,Tyler just is reporting Facts......
It's a finacial blog Bozo.
Shush, you will upset someone, the obvious is showing through the camo....
When Black Friday comes
I'll stand down by the door
And catch the grey men when they
Dive from the fourteenth floor
When Black Friday comes
I'll collect everything I'm owed
And before my friends find out
I'll be on the road
When Black Friday falls you know it's got to be
Don't let it fall on me
When Black Friday comes
I'll fly down to Muswellbrook
Gonna strike all the big red words
From my little black book
Gonna do just what I please
Gonna wear no socks and shoes
With nothing to do but feed
All the kangaroos
When Black Friday comes I'll be on that hill
You know I will
When Black Friday comes
I'm gonna dig myself a hole
Gonna lay down in it 'til
I satisfy my soul
Gonna let the world pass by me
The Archbishop's gonna sanctify me
And if he don't come across
I'm gonna let it roll
When Black Friday comes
I'm gonna stake my claim
I'll guess I'll change my name
When Black Friday comes
I'm gonna dig myself a hole
Gonna lay down in it 'til
I satisfy my soul
Hmm, is a grave plot a hole in the ground, or a plan?
And Belgian attempts to break into the "Sick Sevens"!
Europe's Sick Sevens - Sovereign 10 Year Debt Yields Above 7% (And Spain Teetering on the Brink)
http://confoundedinterest.wordpress.com
maybe thier gov can step in say the numbers are wrong , oh wait a sec they dont have one like the us. think ill dust off the old rebel flag. get ahead of the break up coming here. yeah bit out of context but ya gota start somewhere
Is it now time to sell my Belgian chocolate reserves?
I'll swap them for 25% of their NPV (if you haven't licked them!)
this is the same as color Orange alert on the terrorist watch......Confusing and meaningless
The message seems clear enough to me...get the fuck out of paper.
And what about Portugal, Italy, Hungary, Poland, Spain, South Africa, Belgium, Ireland, .....????????????
Europe's "Sick Sevens" - Sovereign 10 Year Debt Yields Above 7% (And Spain. Belgium Teetering on the Brink)
http://confoundedinterest.wordpress.com
Contagion!...Pepperspray contagion...
breaking news: sodden_debt has been arrested!
Damn it! On what grounds!? I demand to know. I love that avatar and want it back!
interpol arrested him for fringe blogging...
and...he confessed!
Meanwhile Belgian politicians are encouraging citizens to buy Belgian debt at a significant discount compared to Belgian debt yields on the secondary market.
Belgian sheeple have so far committed 518 million EUR, making it the most succesful auction since 1998.
The amount of noise in the media about this new debt offering aimed at regular citizens was quite stunning. Very nicely executed propaganda, although smart people will realize half a billion is next to nothing compared to the 80 billion EUR the government will have to auction next year.
Next they man up and downgrade France and America again.
Last time when Deven Sharma was man enough, he got unceremoniously booted from his CEO position. The instinct for self preservation is acute on Wall Street
No one will be man enough to try it again for a couple of years - Land of the Free, Home of the Brave
any chance the market is crashed before we even wake up on Monday?
hey, oogZ!
first the bad news: it's between slim & none, and slim is eating his 2nd turkey sandwich
the good news is that i'm almost always completely wrong!
Hmm, if a man is talking in the forest and a woman isn't around to hear him, is he still wrong? :>D
So I guess next up is "Temporary Suspension" of Rating Agencies.
"Mark to Model" Ratings......