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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.
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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
WB7 comic relief senses ... tingling.
that's right you get panic momo buyups on resignations which is actually bearish. thing is berlusconi isn't going to resign. rather he will can austerity in an attempt to win the voters/people back. bring back the Lira and that old Europe thing of dissin other coutries or blaming them for Italy's self induced mess.
Sgt. Shultz, "I zee nuhting!"
Succesive shots are having less and less of an effect.
Keep shooting up like this and it may be your last.
Something's up...Both G-Pap and Berlusconi gone within a week...
He's getting out while the getting is good. Stupid for him to want to stay. With a face like that it'll be hard for him to hide anywhere. He'll be making a visit to some plastic surgeons soon I'm sure.
Ooh! Simon Hobbs CNBS:
You can see the blood from Berlusconi's fingernails...
He did say he was worried about what might happen to his business. I wonder what that meant?
right "after" austerity laws....
Italian 10yr @ 7% coming soon
Quiting Rallies???
Gotta love where this is going.
Maybe Death Rally is next?
Quake Rally? Apocolypse Rally? Rally Rallies???
All the Best.
MA/RH
First of all they just voting on 2010 Budget.
At the rate Italy moves the will be voting on 2012 budget in November if 2013.
Berlusconi ain't going anywhere. There is no way that he is done. No way.
you are 100% correct. he isn't going anywhere. he will simply can austerity, bring back the Lira and win the voters back.
Quiting Rallies???
Gotta love where this is going.
Maybe Death Rally is next?
Quake Rally? Apocolypse Rally? Rally Rallies???
All the Best.
MA/RH
Quick someone check his Facebook page so he can refute this.
Wish someone who is buying into this rally could tell me how this solves anyone's debt issues.
I think Silvio is pushing for Angelino Alfano to take over..
thank god he doesn't have any conflicts of interest/problems/history..
/snark
HAHA! I fucking called this as the 3p rumor!
1000 points that will be gone by mid-Thursday
Austerity fatigue. First Greece, then Italy. No one wants to be the Grinch who steals Christmas. They know that the S is about to HTF. Kind of like Greenspan resigning just as the housing bubble was about to collapse.
"Well guys, I think I need a little vacation. You fix it."
HAHA! I fucking called this as the 3p rumor!
http://www.zerohedge.com/comment/reply/440188/1856714
That's the power of markets nowaadays. Berlusconi controlled RAI and Mediaset and hence was the first Italian PM to stay for 17 years and then, within a week...
Just shorted XLK on the pop.
That's the power of markets nowaadays. Berlusconi controlled RAI and Mediaset and hence was the first Italian PM to stay for 17 years and then, within a week...
That's the power of markets nowaadays. Berlusconi controlled RAI and Mediaset and hence was the first Italian PM to stay for 17 years and then, within a week...
Not to be confused, I am not valuing one against the other, I only wonder what else that power is going to topple.
PS: Sorry about multiple posts, seemed not to have been posted.
|Mario (goldman sachs) Monti|
Even European head of Trilateral, educated at Yale by Tobin. After European commission parked at Bocconi, so he did not get burned in everyday politics, remained calm, and then suddenly spoke out today.
Market will move higher, Berlusca won, lost the majority, but Napolitano has to face the problems. 10 y btp will make big figure change heading north within days. And only then, my friends, something will happen. As long as reflation trade is in, weak USD, strong EUR, the algoshow will go on. Don't forget, the markets will teach a lesson to the italian fanullonis and will kick them hard in their asses, but they will enjoy nice meals, wine and the macchine blu......and the easteuropean hookers.....
Fourteen Defining Characteristics Of Fascism
#10. Power of labor suppressed or eliminated
Since organized labor was seen as the one power center that could challenge the political hegemony of the ruling elite and its corporate allies, it was inevitably crushed or made powerless.
The poor formed an underclass, viewed with suspicion or outright contempt. Under some regimes, being poor was considered akin to a vice.
for fukk's sakes, just resign you complete buffoon! You've made a laughing stock of the country with your ridiculous bunga bunga nonsense & that hairpiece. Just bugger off and let the country deal with the bankruptcy mess you created. Maybe you could concentrate instead on trying to keep out of jail for all your corruption. Jeez...enough already with this clown.
And it took Bloomberg milliseconds to put the breaking news headline up. Anything to keep charging the markets up when they start to dwindle a little.
Domani! Domani!
LOL
Now what are they going to do to keep the Market up?
BASTA!
Kind of an Uncomfortably Numb feeling...Super-Committee market nerves coming in 10 days time...With Greece and Italy in limbo more than ever...I smell a big short from the big boys...Just my hunch...
Just an excuse to let 1800 calls on gold expire worthless next week, f'ing pathetic
Does this mean Goat Balls will go on sale soon?
Tired of paying full price.
Bunga man,G-Pap....Putin brothers.Democracy is over.Align with oligarch.
Minghia, Don Silvio! Ma comme? Addesso si e poi no?!?! Mamma Mia!!!
...all the while the goons over at CNBC make fools of themselves (what else is new) talking about a Berlusconi pop... hmmm, a 'pop' of 50 or so points... it must hurt being forced to work at that place.
BERLUSKKO'S FACEBOOK UPDATE: "I'm very happy; Bunga-Bunga is the best invention I ever made... thanks to all my girlfriends".
Kudos to the "Blow Jobs" creator.
Is it me or does it feel like a club is starting to form?
Wonder, what influence his immunity and threat of imprisonment is having on his decision to step down and how in the world the new government will argue for his not being sentenced.
....don't you think this picture is out of decency ? ....or does no one realize?
Thanks for the LOL
Italian prime minister resigns. Italian 10yr yields surging. Problem solved. Next.
Good to see the child catcher looking well.
Knowing the report (Silvio Berlusconi resigning as Prime Minister of Italy) isn't a surprise anymore for most indivdiuals. In fact, some are thankful for the step made by the Prime Minister considering the fact that his 3rd term as Prime Minister of Italy has been tangled up with scandal. Berlusconi has been one of the most controversial figures in world politics for some time. He has faced accusations of corruption, narrowly survived votes of no confidence and earlier this year, according to the Guardian, was put on trial for criminal charges. He was alleged to have had sexual encounters with an underage prostitute named “Ruby the Heart Stealer,” among many other allegations concerning his personal life. Austerity measures were passed earlier this year including reducing public benefits, raising the retirement age from 65 to 67 and tax hikes, but the European Central Bank, among other creditors, feels they weren’t effective enough. According to the Los Angeles Times, it isn’t known what the further austerity measures will entail or when they will be presented. Berlusconi has now lost support in the government and finally decided to resign.