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Berlusconi Wins Budget Vote As Opposition Abstains

Tyler Durden's picture




 

Meet the new boss: same as the old boss:

  • ITALIAN PARLIAMENT VOTING ON BUDGET MEASURE
  • ITALY'S BERLUSCONI WINS BUDGET VOTE AFTER OPPOSITION ABSTAINS WITH 308 VOTES IN 630 SEAT PARLIAMENT
  • BERLUSCONI WINS BUDGET VOTE WITHOUT ABSOLUTE MAJORITY
  • BERLUSCONI WINS VOTE BUDGET VOTE

What is notable is that Berlusconi has now lost his majority. Sure enough:

  • ITALY'S BERSANI CALLS ON BERLUSCONI TO RESIGN

What this means is not quite clear but the EURUSD is not too happy for now.

 

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Tue, 11/08/2011 - 11:16 | 1856361 Irish66
Irish66's picture

Thank goodness thats over, next

Tue, 11/08/2011 - 11:17 | 1856368 GenX Investor
GenX Investor's picture

He vexes me terribly, why won't he simply die?

Tue, 11/08/2011 - 11:31 | 1856383 BaBaBouy
BaBaBouy's picture

Sure, Abstain...

Mercedes Driving EURo TR, Collect the Huge G'ment paycheck, And No Balls At All ...

 

They are doomed...

Tue, 11/08/2011 - 13:26 | 1856931 earleflorida
earleflorida's picture

he who controls the can opener,... keepeth the lid on all transgressions - notably his own 

Tue, 11/08/2011 - 11:22 | 1856394 The Big Ching-aso
The Big Ching-aso's picture

Who's yer cannoli?

Tue, 11/08/2011 - 11:23 | 1856400 jdelano
jdelano's picture

It is going to take a criminal like Berlusconi to bring down the CB criminals.  I'm rooting for him.   Fire with fire.   Watch his corrupt ass pay everyone off, pull strings, and stay in power long enough to put yields over 7%...merk and sark must be totally nonplussed...berlusconi's not only got the right mentality (mafioso) to beat them at their own game, but he's also got more direct resources than their broke asses do.  I hope he seriously fucks everything up for them. 

Tue, 11/08/2011 - 12:11 | 1856656 Coke and Hookers
Coke and Hookers's picture

++++++1

There's been a rumor for a long time that the CIA has run several operations to get rid of Berlusconi. Apparently he's not a good NWO robot and his friendship with Putin has been causing TPTB to shit bricks for years.

Tue, 11/08/2011 - 11:32 | 1856444 rosex229
rosex229's picture

so now the only question is at 3 pm what news will come out that will construe this as bullish

Tue, 11/08/2011 - 11:16 | 1856363 HelluvaEngineer
HelluvaEngineer's picture

Ah, here comes the volume

Tue, 11/08/2011 - 11:31 | 1856429 The Big Ching-aso
The Big Ching-aso's picture

 

 

'Strumming my ass with his fingers

Shitting my life with his verve

Killing me softly with his vote

Killing me softly with his vote

Selling my whole life with his word

Killing me softly with his vote....'

Tue, 11/08/2011 - 11:21 | 1856393 Roland99
Roland99's picture

Pump up the Volume:

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

 

or perhaps ("You ever get the feeling everything in America is completely fucked up?":

http://www.youtube.com/watch?v=9glBgeAb858

 

Tue, 11/08/2011 - 11:17 | 1856367 homersimpson
homersimpson's picture

Um.. that's weird. The market is going south. I thought this was bullish.. just like the tsunami/earthquake in Japan, the EFSF crap, Robotrader's day-late predictions, etc..

Tue, 11/08/2011 - 11:19 | 1856382 vast-dom
vast-dom's picture

semblance of normality is the only weird thing left in these markets.

Tue, 11/08/2011 - 11:20 | 1856385 HelluvaEngineer
HelluvaEngineer's picture

Fraud Street is just waiting for some good news so that they can burn the bulltards.

Tue, 11/08/2011 - 11:21 | 1856391 SheepDog-One
SheepDog-One's picture

Sell any actual news, as it can no longer be used as an algo-frothing rumor.

Tue, 11/08/2011 - 11:18 | 1856375 youngman
youngman's picture

So future cuts...planned but will never be implimented...but money needed today.....short tem day to day worries....lol.....what next week...who is next week...I am tired of the next week....and I think so is the rest of the world...

Tue, 11/08/2011 - 11:25 | 1856406 SheepDog-One
SheepDog-One's picture

Yea yea yea someday we'll get all this fixed we promise...now wheres the damn hookers and blow!

Tue, 11/08/2011 - 11:18 | 1856376 Peter K
Peter K's picture

Silvio lost his majority on this vote. Slight difference:)

Tue, 11/08/2011 - 11:20 | 1856377 IrritableBowels
IrritableBowels's picture

Resignation requested.

 

Edit: Per MCC

Tue, 11/08/2011 - 11:18 | 1856378 pudding
pudding's picture

well, the market can always think about negative comment

Tue, 11/08/2011 - 11:20 | 1856387 Mike2756
Mike2756's picture

Austerity is wildly bullish. Market is glad the system won't collapse, doesn't matter what happens to B'sconi.

Tue, 11/08/2011 - 11:20 | 1856388 Undecided
Undecided's picture

http://www.theglobeandmail.com/globe-investor/financing-for-junior-mining-feels-the-pinch/article2228554/

Financing for Junior Mining feels the pinch. Bullish for the phys? :)

 

Tue, 11/08/2011 - 11:23 | 1856399 gatorengineer
gatorengineer's picture

The hopium is strong in this one.........

Tue, 11/08/2011 - 11:24 | 1856402 Dr. Engali
Dr. Engali's picture

It means BTFD no matter what happens debt explosion, nuclear war, etc. Just BTFD.

Tue, 11/08/2011 - 11:24 | 1856404 pudding
pudding's picture

S&P is so strong

Tue, 11/08/2011 - 11:25 | 1856407 Clam McCain
Clam McCain's picture

Bullish BTFD

Tue, 11/08/2011 - 11:25 | 1856408 the not so migh...
the not so mighty maximiza's picture

Berlusconi wins!!!  Young 18 year old pu-tang for everyone!!!!!!!!

Tue, 11/08/2011 - 11:26 | 1856410 John Law Lives
John Law Lives's picture

Maybe deep down the Italians admire a man who claimed to bed 8 different women in one night...

http://www.telegraph.co.uk/news/worldnews/silvio-berlusconi/8771176/Berl...

Tue, 11/08/2011 - 11:30 | 1856431 stika
stika's picture

Berlusconi will defeat the ECB! Go Bunga... GO!

Tue, 11/08/2011 - 11:32 | 1856434 tim73
tim73's picture

Like an ad from 80's said, "We are second, we try harder!". So give your best shot at Eurozone, you fat, stupid, useless, second grade  Americans and Britons and let's dance and see who is who! (preferably with AC/DC's Who Made Who as background music from neutral Australia, they are ok). :)

Tue, 11/08/2011 - 11:36 | 1856465 jdelano
jdelano's picture

What are you talking about?  this isn't about America versus Europe, this is about the little people versus TPTB.  You're at the wrong rodeo.  

Tue, 11/08/2011 - 12:14 | 1856672 tim73
tim73's picture

It isn't?! You guys have been talking down to Euro since it was invented! TPTB is mostly London/New York problem, good luck with that.

Tue, 11/08/2011 - 11:30 | 1856436 pendragon
pendragon's picture

yesterday rumours of berlusconi's resignations were good for the euro... a broken market.

Tue, 11/08/2011 - 11:33 | 1856451 The 100 Trillio...
The 100 Trillion Dollar Man's picture

Seven more invites to the next Bunga-Bunga party and the confidence motion will pass.

Tue, 11/08/2011 - 11:36 | 1856461 mspgrandi
mspgrandi's picture

market talk that LCH CLearnet will increase margin requirements on italian bonds by 5% . Effective close of Wednesday.

 

happyt birthday

Tue, 11/08/2011 - 11:40 | 1856482 YesWeKahn
YesWeKahn's picture

This must be bullish, the market likes it. There is always buyers at any given price point. Risk on again!

Tue, 11/08/2011 - 11:44 | 1856512 bentaxle
bentaxle's picture

Any fightin' break out yet?

Tue, 11/08/2011 - 12:02 | 1856613 Mike2756
Mike2756's picture

In a basement!

Tue, 11/08/2011 - 11:55 | 1856558 Ponzi Unit
Ponzi Unit's picture

FT gets it wrong?


Silvio Berlusconi’s centre-right government has lost its majority in parliament in a key vote on last year’s accounts that came after mounting concern in bond markets piled pressure on the embattled prime minister by pushing borrowing costs to fresh euro-era highs.

Tue, 11/08/2011 - 12:01 | 1856605 Mike2756
Mike2756's picture

Should be an interesting vote on the tax and bond measures.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/11/08/MNM31LQRR3.DTL&tsp=1

Tue, 11/08/2011 - 12:02 | 1856610 johngerard
johngerard's picture

Berlusconi's won! Hurrah! Whores, coke and kick-backs all 'round!

Tue, 11/08/2011 - 12:07 | 1856635 BobPaulson
BobPaulson's picture

And now, some comments from Woodie Guthrie:

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

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