Berlusconi To Resign After Passage Of 2012 Budget... Some Time In The Future
Surely this means all Italian labor unions, which are at the heart of this whole fiasco, will now gladly unravel and Italian debt will be promptly rolled. All $400+ billion of it in the next 12 months.
Just out from Bloomberg:
- BERLUSCONI TO RESIGN AFTER APPROVAL OF AUSTERITY LAWS
- ITALY'S PRESIDENT NAPOLITANO COMMENTS IN E-MAIL STATEMENT
- ITALY'S BERLUSCONI TO RESIGN AFTER APPROVAL OF AUSTERITY LAW
- ITALY'S PRESIDENT TO START CONSULTATIONS AFTER RESIGNATION
Naturally there is fine print and it is that Berlusconi would resign after the 2012 Budget is passed. As a reminder, today saw the 2010 budget passage. So, Silvio is out... in 2013?
In the meantime, this:
...At least until Silvio updates his facebook wall and says it was all a misunderstanding.
(11 votes)
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and this does what?
Yay! italian bond yields will fall to where they were a week ago to levels that were at the time records.
clearly the world is saved.
How many "governments" does this make for the Repubblica Italiana since 1945 ?
66 ?
'Atomic Energy for Power', Collected Papers (Note e Memorie) (1939-1945), Vol. 2, 556
POMPINO!
ciao bitchez!
Bullish .. it.
Bloomberg:
"U.S. stocks rose for a second day and the euro strengthened as Italy’s president said Prime Minister Silvio Berlusconi has agreed to resign,"
http://www.bloomberg.com/news/2011-11-08/euro-weakens-a-third-day-before-italy-vote-as-japan-shares-fall-on-olympus.html
I still don't see why this is a positive sign for the markets. The Italian Parliament is unlikely to be able to form a majority government and who knows what would result from elections in January. I guess the short-term austerity package is all the market cares about, but it seems like stupid myopic enthusiasm to me.
all signs are bullish and all the real players are gone, the stock market is simply a sponge used by government to fund its mad scientist like dreams of political utopia
As long as it causes more delays, it is positive. I have come to find out through being bearish and losing my ass in the market that the actual news matters very little since it is usually all rumor, empty promises and innuendo. It is all a matter of how the news is spun and liberal amounts of printed/computer generated fiat currency pumped into the markets. Throw in some algobots with a positive bias and presto! You have a year-end melt up rally! Hooray beer!
I appreciate the Red Stripe shout out at the least!
G Pap told him about the island he is retiring and the ammenities. Berlusconi can't wait to quit. Zapatero joining soon.
It will be interesting to see the point were a product of bunga bunga tries to reclaim his maybe fathers throne.
maps.google.com
But the island isn't finished yet!
http://principalityofnewutopia.com/
But "this time it's different"...all those hard choices Italy (and US) always put off, all those structural reforms that were politically untouchable, all those unneccessary gov workers...well there gone - it's all taken care of now and we'll grow our GDP at 5X's the average to boot. Of course it's rally time.
I agree. Each day I become more and more amazed at how stupid people really are. What exactly does this do? They still, never mind. This is not a rational thinking market with rational thinking people. This is going to end very badly....
No no no... a terrible mistake has been made.
Berlusconi meant to say re-sign not resign.
Apparently he meant to say he is going to be re-signing himself up one more five year term as Prime Minister.
he was the reason people were selling italian bonds? yeah, right :D
Keyword here is "after": an open-ended preposition.
It means that soon Silvio will be free to pay for underage prostitutes without public scrutiny.
Are you saying he's going to become a catholic priest?
No...he likes girls.
and priests NEVER pay for it
You must not be Catholic, as you must have been asleep these past few decades...priests or ministers or any religious leader getting a pass, like any Republican or conservative remotely connected to anything gets a pass...LOL, either you're Rip Van Winkle or simply plain stupid. In regards to anything sexual, this whole country and culture has become stuck in adolescence which mirrors our governments and central banks ideas about the stock market perfectly
it is a shame that his "hot" cabinet members might leave with him. dude, some of them are really nice looking chicks.
Condemns the average Italian to poverty, while Bunga-Bunga heads for the exits, quick!
Nearly. Bunga bunga has a week to plan which exit to take from parliament to ensure he's not arrested then how to get to the plane and to ensure he has a stack of shiny yellow metal prepositioned at his favoured destination.
Guns the market into the close...
Hide your daughters, hide your wife...
...they rapin' everybody out here!
lol!
http://www.youtube.com/watch?v=S9M_nw6p8qs
lol!
Lock up your back door, run for your life...
http://www.youtube.com/watch?v=pR30knJs4Xk
ACDC
John Fogerty: "You better hide-y hide-y hide -- the old man is down the road."
http://www.youtube.com/watch?v=gsLkb-5NU-o&feature=related
And hide your ass as well.
means the austerity laws won't be passed
Now THAT would be interesting.
Interesting analysis....
Open the window. I've had enough. Addio Mondo Crudele. Time to bow out.
Can I have your gold?
means the austerity laws won't be passed
First Joe Paterno and now this! where will adolescents go now to become adults?!
indeed....what if this is the top for the euro? not guessing just wondering when..
Like a Fellini movie over there...bizarre characters, weird plot twists..too many what the hell is that moments to count..
Here is some insight
http://www.minyanville.com/businessmarkets/articles/italy-government-ita...
Ah....good for another 1,000 pts on the DOW.
Yes. Action is like yesterday's intraday moves... exactly.
rally monkey is on!!!
rally monkey is on!!!
Gold and silver getting freaking hammered. Equities rolling. Shorts frying. Other than gold and silver tanking, pretty straight forward. Market is pricing in some gnarly inflation coming out of this
"hammered"? your thesaurus must be broken. gold over $1800 +25% on the year is a hammering?
Bang, bang, Maxwell's Silver Hammer came down upon his head...
For once. this is not even a rumor.
So that means he PM for life
I thought they already made and denied that rumor. Its a bit early for it to make a second round, we haven't even heard about China bailing out Europe again again
Judging by the market reaction, he's being replaced by Jamie Dimon.
Classy move huh? Fuck the nation in the ass and leave town.
That cocksucking fuckhead.
by the look of him he did use lube, coulda been worse
http://www.news24.com/World/News/Berlusconi-to-quit-within-hours-20111107
Now is the time for the faaahhcking!
http://www.news24.com/World/News/Berlusconi-to-quit-within-hours-20111107
BERLUSCONI: "Can I still get girls after I resign?"
NWO: "Sure"
BERLUSCONI: "Then challenge accepted..."
http://s3.amazonaws.com/kym-assets/entries/icons/original/000/004/457/ch...
wow, think of all the Ginnie tweener female broken hearts over that one.
shit... time to place one last order for silver.
*edit hopefully it's not my last order..
http://www.news24.com/World/News/Berlusconi-to-quit-within-hours-20111107
3:00 rumor came early. I wonder which fed tool they will put in as a replacement. Is this what the Bernank means when he says the fed still has plenty of tools?
Check out Mario Monti, Trilateral and Bilderberg, former EU commissioner, came out of his defence position just today. He will be the one. Super Mario^2!
No.
Bernank was talking about you.
(just kidding, sweetie)
All of the countries should get to vote on whether or not they will participate in these bailouts, or default. It is crazy this fucker can do this and resign. Talk about not having skin in the game. His skin is in some teenager somewhere, he does not give a fuck about his people.
Now we know what Bill Daley is being prepped for.
Don't they at least have the dignity to wait until 3PM to release this? Why so early?
HEY don't steal my avatar...
Seriously, Italy is like all the governments of the world these days (especially the US):
Rule #1: If it moves, tax it.
Rule #2: If it keeps moving, regulate it.
Rule #3: If it stops moving, subsidize it.
"after approval of austerity laws"
That could be like saying Greek PM to resign after they pay their bills.
after approval of his immunity from prosecution
Nice, gentle melt up in the market 30 mins before that announcement. Golden handjob for Silvio?
After leaving his office he swung by the local high school and picked up his new girlfriend.
HAhaha...yea....and then he swung by the elementary school to lure one of the blossoming young fillies in grade 7.
HAhaha...yea....and then he swung by the elementary school to lure one of the blossoming young fillies in grade 7.
Don't they at least have the dignity to wait until 3PM to release this? Why so early?
Bullish!!
don't know why.... but BULLISH!!
Problem solved.
The headline could have read "Italy to spend less printed money" How is this good for stocks that sell to Europe?
because Ms Merkel is no longer an unf*ckable hobbit, but Chancellor of Germany.
And it puts the lotion in the basket...
notice how quickly, the escalation of replacement leaders in europe, and the middle east has taken place? gotta place all your croonies in for the final roundup!
Step 1: Let them reign long enough to gain credibility.
Step 2: Meanwhile, they legalize and supervise the looting.
Step 3: Profit! (as they are deposed and replaced with the next batch of power-seekers)
Step 4: Goto Step 1
Well that should bring the Italian 10yr back down to 3%:) NOT:))))))
unless he is going to get immunity he won't step down, but will play the game as G &L_Paps
The rats are escaping the sinking vessel.. the SS EU.
The high-level rats are now leaving the ship. That should be enough to float the sinking Euro boat for -- oh say -- two additional seconds.
But have no fear, those rats will be right back in a couple years to pick up the pieces of their war-torn nations. Despots returning triumphant always bring the best gifts.
Après moi, le déluge, indeed.
SO if Berlusconi is worth 12 ES points, do we have a table of how many ES points we get per leader who resigns? Probably a thousand for Obama