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Berlusconi To Give Stock Market Pep Talk With 5:30 PM Address

Submitted by Tyler Durden on 08/03/2011 10:30 -0400

If there is one thing the Italian Bourse needs to stop the relentless bleeding, it is the uber-credible Silvio Berlusconi addressing the country and the various vacuum tubes that trade on the MIB and putting an end to all this selling silliness. Lucky for them, this is precisely what is happening, although not at the originally scheduled time of 3 PM Italian Bailout Time, but only after the market closes, or 5:30 pm. We can't wait to see the limit down in everything tomorrow if indeed someone is pricing in any good news to come out from ole' Silvio whose days are now very much numbered. Reuters reports "Prime Minister Silvio Berlusconi will address parliament on Wednesday seeking to calm escalating market fears that Italy may be dragged into a Greek-style financial crisis that would threaten the euro zone. Italy's Economy Minister Giulio Tremonti met the chairman of euro zone finance ministers, Jean-Claude Juncker, for emergency talks as the yields on Italian and Spanish 10-year bonds flirted with new 14-year highs. Berlusconi, weakened by scandals and largely silent over the past weeks, delayed his address to the lower house, originally scheduled for 3.00 p.m. (1300 GMT), to 5.30 p.m. after the close of the Milan bourse." And the kicker: "It is not clear, however, whether he will have any major new structural reforms or one-off tax measures to announce." In other words this will be merely a Ponzi pep talk...and nothing else.

"In the short term, we're not expecting any new budget correction," one government source said, but added: "Naturally, if it turned out to be necessary, there wouldn't be any particular problem about bringing forward some measures to before 2013."

With Spain also under market attack and doubts growing about the stability of the whole euro zone, the problems are in any case already beyond the capacity of a single government to fix.

"Italy is paying for factors related to the euro zone crisis and the broader European situation rather than domestic factors," said Paolo Mameli, an economist at Intesa SanPaolo Bank in Milan. "Frankly, bringing forward budget correction measures that go into effect mainly from 2013 to at least 2012 may not be able to placate market tensions."

Yields on Italian 10-year bonds are now over 6 percent, a level seen as unsustainable and the premium that investors demand to hold Italian bonds over benchmark German debt has hit euro lifetime highs.

Italian bank stocks, which have been pounded in recent days, rebounded from a slide that has seen shares in the two biggest banks drop more than 20 percent since the start of July. The main Milan stock market index pared losses in volatile trading after hitting a 27-month low earlier on Wednesday.

It gets worse:

With Italy, the euro zone's third largest economy, now being sucked into the debt crisis, alarm has spread at the prospect of a wider regional emergency which would overwhelm bailout measures created to help troubled smaller countries like Greece.

European Economic and Monetary Affairs Commissioner Olli Rehn, who spoke to Tremonti by telephone on Wednesday, sought to provide reassurance with a statement saying Italy was on track to ensure both sustainable growth and budget consolidation.

Berlusconi is due to meet employers' groups and unions on Thursday to try to thrash out a plan to stimulate an economy which has been among the most sluggish in the world over the past decade.

Despite a public debt equivalent to 120 percent of gross domestic product, Italy has until recently stood apart from the crisis thanks to a relatively modest budget deficit, high private savings and a conservative financial system.

However, concerns about the government's ability to overcome internal divisions and revive the stagnant economy have changed perceptions markedly in recent weeks, after warnings from credit ratings agencies that they could cut Italy's credit rating.

In other news, we fully expect the various Italian banks to hit their limit down triggers in the remaining hour before Europe closes.

We hope to bring you the Berlusconi speech live if available for your comic pleasure.

- advertisements -

Wed, 08/03/2011 - 10:40 | 1520476 TruthInSunshine

Berlusconi jinxes everything he comes near.

Just ask Colonel Khadafi.

Berlusconi's nickname is The Black Hand.

Look out below, troias.

Wed, 08/03/2011 - 10:42 | 1520528 HelluvaEngineer

Now is a very good time to buy Chianti. I mean stocks.

Wed, 08/03/2011 - 11:03 | 1520565 Ahmeexnal

Meanwhile, the Bin Laden family is about to build a shrine to their fallen son: the world's tallest tower.

http://www.marketwatch.com/story/bin-laden-group-to-build-worlds-tallest...

Wed, 08/03/2011 - 11:03 | 1520641 snowball777

World's largest Target!

Wed, 08/03/2011 - 12:57 | 1521078 Byte Me

Cinch for an A-320 fuel carrier...

Wed, 08/03/2011 - 10:48 | 1520556 Ratscam

at least lybia had a strong economy until NATO started bombing the shit together. italy is already in a greece style financial mess, they simply try ignoring it.
berlusconi should ask his citizens to buy gold as they are planning to leave the euro soon.

Wed, 08/03/2011 - 17:00 | 1521989 Hugh G Rection

Anyone notice the Illuminati scumbag throwing up the devil horns???

The Elites Gang Sign

http://www.youtube.com/watch?v=tgnH1puriH4

Thu, 08/04/2011 - 00:37 | 1522972 phyuckyiu

They all -LOVE- the Texas Longhorns silly, just like the Clintons and Cheneys and Bushes and Prince William and Sarkozy and.. well you get the idea. Nothing to see here...

Wed, 08/03/2011 - 23:39 | 1522881 mason5566

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Thu, 08/04/2011 - 00:40 | 1522977 phyuckyiu

Holy Crap and official SPAMMER!! And you even waited a week to post!!! LOL. I thought you fools were an extinct species. BAN coming in 3 - 2 - 1.....

Wed, 08/03/2011 - 10:33 | 1520479 John McCloy

When are we getting the QE3 rumor today from the Fed? I have my money around 1:45 if the market is still deep in the red.

" The bankers need their rockkss Babbyy (Scratches Arm)"

Wed, 08/03/2011 - 10:41 | 1520521 4shzl

30-yr. going beserk -- up another 2 points. TYX = 3.80% UFB

Wed, 08/03/2011 - 10:34 | 1520481 Caviar Emptor

Time to divert attention away from markets and toward the threat we really should focus on: grave robbers from outerspace!

Wed, 08/03/2011 - 10:34 | 1520482 swissaustrian

His message: "If you stop selling, i´ll buy hookers for everyone".

Wed, 08/03/2011 - 10:38 | 1520501 Pay Day Today

Perhaps he could sponsor a cheerleading squad for the Italian banks made up of the teeny girls he loves to party with?

Wed, 08/03/2011 - 10:53 | 1520582 mudduck

I think he is gonna do that anyhow (hookers all around). Looks like he was suggesting "smella my fingers," from looking at the picture.

Wed, 08/03/2011 - 10:58 | 1520613 Ethics Gradient

I'm hoping for:

Signore e belle ragazze,

Mi trovo qui oggi per annunciare che l'Italia sta lasciando l'Euro. La nostra competitività sarà ripristinato e la nostra politica fiscale sarà il nostro. Il nostro paese è grande e non sarà mai presentare alla Germania!

Viva la Lira!

E non dimenticate di votare per me alle prossime elezioni.

Wed, 08/03/2011 - 12:19 | 1520934 Ghordius

No, he did not mention any girls, the bastard... Here, from my notes (thanks, Tyler, for the link):

Berlusconi said (you might call it a LIBERTARIAN speech:

- Less spending, bitchez!

- We have to spend near zero until Year End.

- No spending, dammit!

- Here, 7 billions for the South

- AUSTERITY, bitchez!

- Banks have to function better

- Did I mention Austerity?

- I'll try to say it without demagogy (sic): we have to function better.

- Efficiency, bitchez!

- Less cost, also MPs have to cost less.

- We have to overcome the "heavy inheritance"

- We have now (starts to count the initiatives)

- Less taxes for start-ups (entrepreneurs younger than 35y)

- We have now a good collaboration with the Trade unions

- We have to close ranks!

- AUSTERITY!!!

- We all have to work harder for the common good.

- Nobody says we are not in a crisis.

- You are listening to an entrepreneur that has three listed companies, I'm too "in the trenches"

- We have to take Italy out of this planetary crisis

- Bring Ideas, opposition-bitchez! Our door is open (as long as we cut costs)

- 2013 is election time, let's count the months until them

- To the Italians: we have the coalition ready to do it's duty.

- HARD TIMES, BITCHEZ!

- We will overcome the crisis.

Perhaps it is time I get back my Italian Citizenship…

+100000 for Berlusconi, love him or hate him, he does not talk like most politicians…

He might be buying MP votes left and right, but hey, I DO approve his course...

Wed, 08/03/2011 - 10:35 | 1520489 snowball777

Guess who's turn it is for Bunga Bunga, Berlie?

Wed, 08/03/2011 - 10:38 | 1520493 Bard

Polish stock (WSE) - 3,7% and still sinking. Its another Lehman till QE3.

Wed, 08/03/2011 - 10:36 | 1520495 KeyserSoze

Is he gonna pep it up by sticking his dick in it?

MAMA MIA!!!

Wed, 08/03/2011 - 10:40 | 1520517 snowball777

Is it under-age?

Wed, 08/03/2011 - 11:17 | 1520745 KeyserSoze

flirted with new 14-year highs.

Yes.

Wed, 08/03/2011 - 10:38 | 1520503 entendance

TOLD YOU IN ADVANCE...LOL

http://www.entendance.com/forums/viewtopic.php?f=7&t=568&p=18501#p18501

Wed, 08/03/2011 - 10:39 | 1520506 Long-John-Silver

This pretty much covers it.

http://youtu.be/-o2gzNVab9w

Wed, 08/03/2011 - 10:39 | 1520508 JSD

This should be akin to a 6th Ave. Electronics salesman telling a customer "I'm not making any money on this deal, but I'll hook you up."

Wed, 08/03/2011 - 10:42 | 1520513 hedgeless_horseman

<---- This is 80%+ of my current investment strategy

<---- What does a cruise ship have to do with anything?

Timing QE3 announcement.

Wait for it...wait for it...wait...

Wed, 08/03/2011 - 10:43 | 1520536 SheepDog-One

QE3 probably another big sell-the-news just like the 'debt done deal' euphoric run up everyone predicted. I bet all those who piled in huge a couple weeks ago, or said they did, arent doing so well today.

Wed, 08/03/2011 - 10:45 | 1520541 hedgeless_horseman

I bet all those who piled in huge a couple weeks ago, or said they did, arent doing so well today.

Have you noticed the price of gold?

Wed, 08/03/2011 - 10:50 | 1520557 SheepDog-One

No I meant the stock pumper weenies. Just go back 2 weeks to any ZH article and look at everyone predicting the huge 'done-deal market surge'. Of course Ive been here for a couple years saying sell all paper, buy PM's.

Wed, 08/03/2011 - 10:52 | 1520573 hedgeless_horseman

Relax, Dog. You know I'm just fucking with you.

Wed, 08/03/2011 - 10:40 | 1520518 vegas

Let's lend Italy Obama. Maybe the both of them can go pick up babes in Rome or something. Anything to get that dickhead out of the US.

Wed, 08/03/2011 - 10:41 | 1520522 SheepDog-One

WOW look even Berlusconi is a Texas A&M fan too!! HA HA HA HAAAAA!

Wed, 08/03/2011 - 10:44 | 1520537 Long-John-Silver

Looks like he forgot to use toilet paper when he wiped his ass.

Wed, 08/03/2011 - 10:45 | 1520543 HelluvaEngineer

I thought it was a "Hail Satan"

Wed, 08/03/2011 - 10:47 | 1520552 SheepDog-One

Weird picture, looks like hes got blood all over his fingers? WTF?

Wed, 08/03/2011 - 10:55 | 1520591 Miss Expectations

Italian Hand Gestures Explained

http://www.youtube.com/watch?v=jVCuyrPk7P4

Wed, 08/03/2011 - 11:07 | 1520685 snowball777

Yes, he is quite the Cornuto.

Wed, 08/03/2011 - 11:22 | 1520770 KeyserSoze

Your video of what the hand gesture means still doesn't make sense in the context of how Berlusconi is using it.

Why would he give that hand gesture to someone whilst in the middle of a gathering of world leaders with the cameras pointed at him, if he just wants to insult someone else?

Wed, 08/03/2011 - 11:35 | 1520816 Tree of Liberty

It is and very scary as of recent many Leaders are making these Satanic hand signals more and more out in open public. He is a Luciferian much like most of the Bilderberg power elite. This is the Hegalian Dialectic at work; Problem, Reaction, Solution.

QE3 Soon to follow, with potential false flag/war (see Celente most recent Trends Journal as well as last Web Bot edition).

What these Luciferian NWO types do not realize is that they will loose when Jesus Christ returns in Revelation 19:20.

Like Johnny Cash stated in his last years of life in his song, "It's Going by the Book".

Wed, 08/03/2011 - 11:39 | 1520824 Agent P

A&M??? That's UT baby! Hook 'em Horns!!!

Wed, 08/03/2011 - 10:41 | 1520524 Mr Lennon Hendrix

Caption contest:

I'm with Ba'al.

Wed, 08/03/2011 - 10:59 | 1520594 TruthInSunshine

He's definitely waving the ole' illuminati hand gesture.

How quaint.

http://3.bp.blogspot.com/_lxHkFGQPc90/S3cMICTVviI/AAAAAAAAAU8/8OSKII4JuA...

http://www.lovethetruth.com/jis_images/bush_satan_sign.jpg

http://antinwomillita.webs.com/photos/Celebrities-involved-/Pope-Illumin...

https://xeroxed88.files.wordpress.com/2010/11/clinton-illuminati-inducti...

Wed, 08/03/2011 - 11:08 | 1520693 snowball777

Merkel and I are together. Here's me. And she's over here.

Wed, 08/03/2011 - 10:43 | 1520531 youngman

If he was smart he would announce his resignation....get out before the SHTF...

Wed, 08/03/2011 - 10:43 | 1520534 mayhem_korner

I hope it's subtitled in engrish so he can tank the U.S. markets.

And remember, Wednesday is Prince Spaghetti day! A-A-A-Anthony?

Wed, 08/03/2011 - 10:43 | 1520535 the not so migh...

in that picture did he just finger two young girls that sick creep?

Wed, 08/03/2011 - 10:49 | 1520561 mayhem_korner

You just pre-empted any hope for a caption contest.

Wed, 08/03/2011 - 10:57 | 1520608 MachoMan

It's the Italian Shocker...

Wed, 08/03/2011 - 12:01 | 1520887 Ignatius J Reilly

I think he is bragging about what he did with that intern.

Wed, 08/03/2011 - 12:02 | 1520890 Ignatius J Reilly

I think he is bragging about what he did with that intern.

Wed, 08/03/2011 - 10:55 | 1520590 dabonett

In Italy thist means:

1- a gesture to ward off bad luck

2 - a gesture that means your wife cheated you.

I would say both...

And for your fun: Italy chambers will be closed for more than 40 days after today ( and a full week in Holy Land in September)

Wed, 08/03/2011 - 11:06 | 1520675 nedwardkelly

It's almost 'i love you' in sign language. Yay,silvio loves us.

Wed, 08/03/2011 - 11:08 | 1520697 Ghordius

Specifically:

upward: your wife cheated you

downward: gesture to ward off bad luck

This photo is from the epic day when he had a fight with a German EU MP.

Tyler: Berlusconi uber-credible? Compared to who? You might be astonished how many Italians believe him (when he is not joking).

Wed, 08/03/2011 - 21:00 | 1522515 pain_and_soros

That says a lot about him, but more about Italians in general.

Another Mussolini here we come.

Wed, 08/03/2011 - 10:45 | 1520540 Version 7

Case to say the devil is in the details. So you're along with the freaks, Berlusconi.. Shame on you.

Wed, 08/03/2011 - 10:45 | 1520544 SheepDog-One

I'm with Satan, buy stocks! No really people, stocks are great m'kay?

Wed, 08/03/2011 - 10:45 | 1520545 Long-John-Silver

Damn! Look at Silver go.

Wed, 08/03/2011 - 10:47 | 1520554 mayhem_korner

Decoupling, dude.

Wed, 08/03/2011 - 10:46 | 1520551 Subprime JD

S&P at 1235!

Wed, 08/03/2011 - 10:48 | 1520555 caerus

it's the evil speculators

Wed, 08/03/2011 - 10:54 | 1520587 Subprime JD

The CNBC douches are calling for a "violent snapback" due to extreme oversold conditions. Over course they never talk about a violent selloff after a HFT algo driven ramp lol. But I will say for a near term trade a good bounce is possible at this point.

Pure panic on CNBC. I love every second of it.

Wed, 08/03/2011 - 10:57 | 1520606 caerus

agreed...the stock cheerleaders are pissed...imo a snapback test of the neckline is good news for the bears...i think it'll fail but it will give those who are still long a last chance to dump...imho

Wed, 08/03/2011 - 10:50 | 1520566 baby_BLYTHE

Berlusconi must be a metalhead, \m/

http://www.youtube.com/watch?v=-UjVRXs3qW0

Wed, 08/03/2011 - 10:53 | 1520581 SheepDog-One

Right, or a Texas A&M fan. WHOOP hook em horns!!

Wed, 08/03/2011 - 10:52 | 1520574 High Plains Drifter

is he a texas longhorn's fan?

Wed, 08/03/2011 - 10:54 | 1520584 caerus

i think he's a metal fan...sources tell me this photo was taken at a metallica concert

Wed, 08/03/2011 - 10:54 | 1520586 Negro Primero

Madonna, Berlusconi, Putin.... lot of blow-jobs in some italian press today

http://100cosecosi.blogspot.com/

Wed, 08/03/2011 - 10:54 | 1520588 Long-John-Silver

Where's Robo Trader?

http://youtu.be/W4hfdaC7eL4

Wed, 08/03/2011 - 11:13 | 1520718 glenlloyd

forget Robo, WTF happened to the idiot Wanger twins?

Wed, 08/03/2011 - 10:56 | 1520601 oogs66

Maybe he will recite this old favorite:

Mama Mia, papa pia, btps got the diareha

Wed, 08/03/2011 - 10:59 | 1520618 Goldenballs

If you keep on destroying the Italian economy you will wake up with a horses head on the bed and you will not have to bother with Christmas presents for the kids.

Wed, 08/03/2011 - 11:01 | 1520621 Goldenballs

Its about time that shitty don Luigi Obama started doing as he is told.

Wed, 08/03/2011 - 11:04 | 1520654 phraseshifter