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Brussels... We Have A Problem

Tyler Durden's picture




 

The following chart from Ray Dalio's Bridgewater probably explains why the words "funding gap" (or "math") will never be uttered by any Eurocrat as that would mean the jig is up. It is also quite self-explanatory: it simply presents visually all that ZH and others have been saying for years.

And to think Europe already spent €2 trillion in bailout cash achieving... nothing

 

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Mon, 06/04/2012 - 13:27 | 2492559 barliman
barliman's picture

 

Dive! Dive! Dive!

barliman

Mon, 06/04/2012 - 13:32 | 2492568 nope-1004
nope-1004's picture

Tax evader Tim Geithner to the rescue!

LOL.

 

Mon, 06/04/2012 - 13:35 | 2492590 Ahmeexnal
Ahmeexnal's picture

Merkel illustrates what is coming to the eurosheeple:

 

http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2012/5/31/1338...

"stimmulus für die Schafe"

Mon, 06/04/2012 - 13:39 | 2492618 TheFourthStooge-ing
TheFourthStooge-ing's picture

Das tut mir sehr leid.

Mon, 06/04/2012 - 13:44 | 2492630 MillionDollarBonus_
MillionDollarBonus_'s picture

 

I am shocked and appalled at the immaturity of European politicians and central bankers. I can’t help but empathize with President Van Rompuy as he strives for a united Europe, only to be met with cowardly and childish political gridlock. It is true that Europe is suffering from a lack of integration and monetary union, but more fundamentally Europe is suffering from a sense of political identity. Europeans need to start believing in politics again. They need to start believing in the dream to which visionaries like President Van Rompuy and commissioner Barroso have selflessly dedicated their lives. A dream of a united Europe, with organized, efficient government that delivers what the people need when they need it, and a thriving economy, guided by the best and the brightest economic planners, with freedom, liberty and prosperity for all.    

 

Mon, 06/04/2012 - 13:47 | 2492649 LongSoupLine
LongSoupLine's picture

lol..not bad MDB (not your best, but not bad).

Van Rompuy..."visionary"...ha.

Mon, 06/04/2012 - 13:55 | 2492680 NotApplicable
NotApplicable's picture

Reductio Ad Absurdum, FTMFW!

With a little Poe's Law thrown in for maximum troll-bait.

Mon, 06/04/2012 - 14:29 | 2492845 Killtruck
Killtruck's picture

Why don't these charts ever go past 2012?

...Oh. Well, shit.

Mon, 06/04/2012 - 14:53 | 2492928 Rubbish
Rubbish's picture

Mayan thang

Mon, 06/04/2012 - 22:04 | 2494522 Harlequin001
Harlequin001's picture

'Funding gap?, please, just borrow it...

easy...

Mon, 06/04/2012 - 17:33 | 2493617 long-shorty
long-shorty's picture

I don't understand who is giving MDB the down arrows. This is indeed good stuff.

Mon, 06/04/2012 - 13:47 | 2492655 MsCreant
MsCreant's picture

MBD, you want a job at the Fed, don't cho? You are awesome at spin.

Mon, 06/04/2012 - 13:52 | 2492670 resurger
resurger's picture

iBelieve

now give me my $3,000 thingamajig'z

Mon, 06/04/2012 - 13:53 | 2492675 krispkritter
krispkritter's picture

There's a Mr. Farage on line 2 for you. He's asking for your address and mentioned something about 'kneecaps'...

Mon, 06/04/2012 - 14:02 | 2492707 macholatte
macholatte's picture

 

 

Gold is prone to long booms and busts. Before its latest dip, it multiplied five times in value over a decade, mocking stocks and other investments. Before that, it lost money for 20 years.

 

How Much Gold Do Investors Need? Zero Should Suffice

http://online.wsj.com/article/SB1000142405270230482130457743863363210234...

Mon, 06/04/2012 - 14:31 | 2492849 RealFinney
RealFinney's picture

>one last piece of advice: Forget about Krugerrands. Buy your spouse something expensive, lovely and high-carat.

 

Spoken like someone who has never held a krugerrand.

Mon, 06/04/2012 - 15:00 | 2492959 Rubbish
Rubbish's picture

"In other words, gold might suffer from a multiple personality disorder."

 

Yeah like when it goes under $1000 an ounce.

Sat, 06/09/2012 - 13:46 | 2510448 BigMike
BigMike's picture

There is nothing more bullish than articles like this in WSJ!

 

This makes me feel great

Mon, 06/04/2012 - 14:10 | 2492750 TWSceptic
TWSceptic's picture

I don't know if I should laugh or cry at this troll post, it's ridiculous yet it is reality in the EU...

Mon, 06/04/2012 - 14:12 | 2492759 CPL
CPL's picture

You should submit stuff to the onion.

Mon, 06/04/2012 - 14:21 | 2492796 No Euros please...
No Euros please we're British's picture

lmao I'm loving the sarcasm! Brilliant M$B.

Mon, 06/04/2012 - 14:27 | 2492830 moroots
moroots's picture

"I can’t help but empathize with President Van Rompuy"

No surprise there, you also have the charisma of a damp rag, and I wouldn't be too surprised if you have the appearance of a low-grade bank clerk.

Mon, 06/04/2012 - 15:20 | 2493020 Karl von Bahnhof
Karl von Bahnhof's picture

Mr.Trololo just passed away today... :(

Mon, 06/04/2012 - 15:22 | 2493030 Karl von Bahnhof
Karl von Bahnhof's picture

The fucka Barroso is still here, damn day!

Mon, 06/04/2012 - 14:37 | 2492867 TradingChief
TradingChief's picture

Please let me know who your supplier is, because I want to smoke the stuff you are smoking.

Mon, 06/04/2012 - 14:37 | 2492869 TradingChief
TradingChief's picture

Please let me know who your supplier is, because I want to smoke the stuff you are smoking.

Mon, 06/04/2012 - 14:38 | 2492877 shutupnsing
shutupnsing's picture

...and who, disguised as clark kent, fights a never-ending battle against Progressive boobs, butt-wipes and the endless parade of useful idiots!

Mon, 06/04/2012 - 15:12 | 2492990 BandGap
BandGap's picture

People who found your diatribe interesting also liked this stroy:

http://dba-oracle.blogspot.com/2011/01/giant-panties-for-morbidly-obese-woman.html

 

Mon, 06/04/2012 - 15:34 | 2493088 Carl Spackler
Carl Spackler's picture

More silly, clown-like material from MDB.

Europeans need to start believing in politics again.

All of them believe in politics, they just do not believe in the same politic thought, and there is no chance of that changing, right now.

In so far as believing, again, I am guessing that the first (and last) time they ever believed in the same political thought was when the Roman Empire dominated Europe. 

What Euros need to learn to do is get off their lazy behinds and work.

 

Mon, 06/04/2012 - 16:38 | 2493426 piliage
piliage's picture

MDB is George Soros!!

Mon, 06/04/2012 - 22:05 | 2494525 Harlequin001
Harlequin001's picture

'They need to start believing in the dream...'

Best advice yet...

Mon, 06/04/2012 - 13:33 | 2492594 Spitzer
Spitzer's picture

Europe aint dumb enough to fill that gap but they do have Ben Bernanke/IMF on speed dial.

Mon, 06/04/2012 - 14:59 | 2492955 ExploitTheMarket
ExploitTheMarket's picture

As if the quantitative trends werent bad enough, the qualitative trends (the ideas surrounding this clusterfuck) are even worse -- look at what the european voters and politicians are saying they want.... a supernova is inevitable.

Mon, 06/04/2012 - 13:35 | 2492603 TheFourthStooge-ing
TheFourthStooge-ing's picture

Timmah has a master plan to save the Eurodisneyland Union. Arithmetic will be banned for everyone except those who hold an official government sanctioned License to Figure.

Arithmetic performed by Figure Licensees is subject to modification by the Eurodisneyland Union Ministry of Figures.

 

Mon, 06/04/2012 - 13:40 | 2492622 MsCreant
MsCreant's picture

I gave you an arrow up, not because this was funny, but because it is simply true.

Mon, 06/04/2012 - 13:58 | 2492695 NotApplicable
NotApplicable's picture

The math part had already been accomplished. They refer to is as "Outcome-based Education."

Mon, 06/04/2012 - 13:36 | 2492610 barliman
barliman's picture

 

TIMMAY !!!!

... better bring a lot of salvage equipment.  The e.U.-471 was on the surface trying to fix their ballast tanks.

Probably not going to come back up since they left the screen door open to boot.

barliman

Mon, 06/04/2012 - 13:43 | 2492633 resurger
resurger's picture

FF>>

Mon, 06/04/2012 - 19:47 | 2494030 Buck Johnson
Buck Johnson's picture

When this whole game implodes, it will change the way that countries (if they are the same after the implosion) will ever do business again.  We will have a world wide hyperstagflation and most of the currency will be worth nothing.

Mon, 06/04/2012 - 13:28 | 2492560 Ahmeexnal
Ahmeexnal's picture

No green BRUXELLE SPROUTS?

Mon, 06/04/2012 - 13:29 | 2492565 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

$3k worth of peas is all we need now to stave of any liabilty.

Mon, 06/04/2012 - 13:30 | 2492578 junkyardjack
junkyardjack's picture

He didn't mention if that is $3K in today's dollars or post printing press dollars...

Mon, 06/04/2012 - 13:36 | 2492607 slaughterer
slaughterer's picture

Can't Europe find a thingamajig to fill that gap?

Mon, 06/04/2012 - 13:40 | 2492619 Vernon Wormer
Vernon Wormer's picture

Nice!

Mon, 06/04/2012 - 13:44 | 2492636 MsCreant
MsCreant's picture

Would you put your thingamajig in there? I'm not putting my thingamajig in there, unh-ah.

Mon, 06/04/2012 - 14:00 | 2492700 NotApplicable
NotApplicable's picture

Not even if it was the very last hoohah.

Mon, 06/04/2012 - 14:13 | 2492769 CPL
CPL's picture

Not while the entire business community is bullish on Widgets.

 

Thingamajig's and whatchamacallit's are in a holding pattern until the guy with the stuff shows up and does something about the situation.

 

Clear as mud.

Mon, 06/04/2012 - 13:29 | 2492572 Lost Wages
Lost Wages's picture

Suicide markets.

Mon, 06/04/2012 - 13:31 | 2492581 Ahmeexnal
Mon, 06/04/2012 - 13:58 | 2492693 krispkritter
krispkritter's picture

I hear that their airport security is making sure that every passenger has a gun AND a bomb when boarding.

Janet Napolean-wanto is crapping in her nylons.

Mon, 06/04/2012 - 14:24 | 2492815 Iwanttoknow
Iwanttoknow's picture

No problem.just shift our al-cia-da guys in syria back to libya.

Mon, 06/04/2012 - 13:30 | 2492576 MsCreant
MsCreant's picture

[Deep sigh]

They need to stop.

Just. Fucking. Stop.

Mon, 06/04/2012 - 13:30 | 2492579 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

If we all close our eyes the debt monster will go away.

Mon, 06/04/2012 - 13:32 | 2492588 eclectic syncretist
eclectic syncretist's picture

Well, we're not printing money, we're effectively printing money.  But we can't print money.

http://www.thedailyshow.com/watch/tue-december-7-2010/the-big-bank-theory

Mon, 06/04/2012 - 13:34 | 2492596 CClarity
CClarity's picture

Nope, like quicksand.  We are mired in debt saturation, the sprawled out arms can only keep the Euros on top a few more minutes.  Trying to pull out once the sucking gains momentum will be impossible.  Again, why I expect Germany (and other cores) will make their exit from Euro, not the other way around.  A big bad belching burp!

Mon, 06/04/2012 - 13:31 | 2492582 williambanzai7
williambanzai7's picture

GREXIT ADVISORY SYSTEM

Mon, 06/04/2012 - 13:33 | 2492589 Alex Kintner
Alex Kintner's picture

I thought Grexit was the Green condition. And Grstay was Red.

Mon, 06/04/2012 - 13:35 | 2492604 Dr. Engali
Dr. Engali's picture

Where is the false flag to distract the sheep  from our bumblings threat level?

Mon, 06/04/2012 - 14:02 | 2492714 NotApplicable
NotApplicable's picture

Likely the day after the next "Sorry, but we lost X trillion dollars of your money." mea culpa.

Mon, 06/04/2012 - 14:04 | 2492721 krispkritter
krispkritter's picture

It's been replaced by a $3000 check with Obama's face on it.  And like Obama, comes in the male, er, mail...

Mon, 06/04/2012 - 14:16 | 2492786 CPL
CPL's picture

The sheeple aren't listening because they are only working part time, not enough bread for basic cable which is $50 a month that is being spent on useless things like food, clothing and shelter.

Tue, 06/05/2012 - 07:26 | 2495170 Bogdog
Bogdog's picture

We're duitifully working on that with both Syria and Iran. One will deliver a nice war for us any day now.

Mon, 06/04/2012 - 13:31 | 2492583 q99x2
q99x2's picture

My mother's social security presciption medication money at the FED got their back.

Mon, 06/04/2012 - 13:32 | 2492585 ghostzapper
ghostzapper's picture

Move along sheeple.  Everything is fine.

 

Sources close to Simon Hobbs assure him everything is well and all of the fantasy bailouts will work perfectly.  All is well. 

Mon, 06/04/2012 - 14:05 | 2492723 NotApplicable
NotApplicable's picture

All fine and well on Threadneedle St., perhaps.

Mon, 06/04/2012 - 14:22 | 2492808 CPL
CPL's picture

Please pull up a refined haute couture stylish wing back, the butler will be by with a high ball and martini.  Together we will watch the world rebuild itself and commerce be prosperous/well run.

 

The unicorn that shits skittles and pisses single malt sipping whiskey should be by soon.

Mon, 06/04/2012 - 13:32 | 2492587 Jacque Itch
Jacque Itch's picture

Would you think any less of me if I said I am ENJOYING THIS SH*T !?!?!?

Mon, 06/04/2012 - 13:34 | 2492595 Alex Kintner
Alex Kintner's picture

No. I couldn't  possibly think less of you.

Mon, 06/04/2012 - 13:33 | 2492592 Dr. Engali
Dr. Engali's picture

Did anybody here get their $3000 thingamajig check yet? I'm hoping they won't get upset if I buy gold instead of a thingamajig.

Mon, 06/04/2012 - 13:37 | 2492612 Alex Kintner
Alex Kintner's picture

Yes but you have to go to Kenya to cash it. Luckily Trump has an excursion rate.

Mon, 06/04/2012 - 14:00 | 2492701 krispkritter
krispkritter's picture

A barbarous thingamajig is still a thingamajig...

Mon, 06/04/2012 - 14:05 | 2492725 Ignatius J Reilly
Ignatius J Reilly's picture

Searched Amazon for it.  For some reason I couldn't find it.  Must be backordered.

Mon, 06/04/2012 - 16:48 | 2493475 piliage
piliage's picture

You could always try substituting it with the whatchamacallit

 

Mon, 06/04/2012 - 13:35 | 2492606 carbonmutant
carbonmutant's picture

What happened when the USSR ran out of other peoples money to spend?

Mon, 06/04/2012 - 13:43 | 2492632 Sandmann
Sandmann's picture

The USSR had OIL and raw materials so it couldn't really run out of money. It ran out of growth and could not move from the heavy hardware into the software age without loosening control on thinking and access to knowledge. It was a very different type of collapse because nooone owned anything and noone could enforce Court Orders - that is Dmitry Orlov's main contention, that in The West it will be much worse

Mon, 06/04/2012 - 13:53 | 2492674 walküre
walküre's picture

UK and US oil majors moved into Russia days before the Berlin wall came down. The whole thing was a hostile takeover. The Russian oligarchs went overboard and that whole communism thing blew up in their faces and they'd be exposed. Russia was ahead of the curve because now it's time for the American oligarchs to eat dirt.

Cue the American equivalent to Vlad Putin to enter the stage ...

Mon, 06/04/2012 - 14:00 | 2492703 MsCreant
MsCreant's picture

There is no one I can think of on the current horizon that comes close. I may not like Vlad, but he can make me think he is a serious bad ass who means business. All our clowns are pussified sycophants and too silly for words.

Mon, 06/04/2012 - 14:07 | 2492741 GeneMarchbanks
GeneMarchbanks's picture

Dead on:

There is no one I can think of on the current horizon that comes close.

Nor will you get one. The mob won't allow for anyone who embodies any sort of characteristic of leadership or individuality so sycophants you'll get.

Look on the bright side, at least you'll get a thingamajig for your stove.

Mon, 06/04/2012 - 14:12 | 2492762 walküre
walküre's picture

That's because America's good guys are too busy working to feed their families. I can't remember the last time America had a President that came from a hard working background.

Mon, 06/04/2012 - 16:46 | 2493469 Argonaught
Argonaught's picture

Truman and Ike were bringing us back from the abyss, but their work was left unfinished by the succession of spineless power-hungry asshats after them.

Mon, 06/04/2012 - 13:36 | 2492608 Mark123
Mark123's picture

Just create more debt that is not backed by anything other than vague central bank/sovereign commitment to the system.

 

Problem solved.

Mon, 06/04/2012 - 13:44 | 2492631 hedgeless_horseman
hedgeless_horseman's picture

 

 

A Princeton grad!  PhD, obviously.  What class?

Mon, 06/04/2012 - 13:45 | 2492635 ArrestBobRubin
ArrestBobRubin's picture

Brussels... We Have A Problem

 

Yes, it's called Brussels and we're not talking Sprouts

Mon, 06/04/2012 - 13:44 | 2492637 NEOSERF
NEOSERF's picture

Need to subtract out the "commitments" of Spain, Italy, Portugal, Greece, Ireland, Estonia and likely others as they are not real...talk about a house of cards...

Mon, 06/04/2012 - 13:46 | 2492641 evolutionx
evolutionx's picture

PIGS yields rising again

ECB over night facility close to 800b

 

http://www.cds-info.com/

Mon, 06/04/2012 - 13:46 | 2492642 timbo_em
timbo_em's picture

Ireland will need a second bailout package, too, and the EFSF expires in summer 2013. Looks to me as if Mme Lagarde needs a bigger purse and someone better start printing.

By the way, France has to rollover approx. 110bn in Q3 2012 which is more than twice as much as the usual amount. That can't be good for Italy ans Spain. Oh, and Italy has to rollover huge amounts in Q3 and Q4 2012.

Mon, 06/04/2012 - 13:46 | 2492647 Centurion9.41
Centurion9.41's picture

It's all fun & games & politics, until some really pissed off & screwed folks start shooting....

Mon, 06/04/2012 - 13:56 | 2492688 walküre
walküre's picture

opportunities and targets galore

Mon, 06/04/2012 - 13:47 | 2492650 TNTARG
TNTARG's picture

I'm sick tired of all this shit.

Don't bankers had enough fun already? Can't they just let go?

What a fuck do they want? A global revolution so they can kill milions with their sophisticated weapons? What a f..k are they going to do with all that money? F..k them all. I had enough of this orwellian shit.

Mon, 06/04/2012 - 13:55 | 2492683 walküre
walküre's picture

Corzine is a free man.

The rule of law has been suspended. There are clearly two sets of laws in this country. You chose what you want to obey.

Stop paying taxes. Stop playing by their rules.

The gig is up.

Mon, 06/04/2012 - 13:59 | 2492699 ArrestBobRubin
ArrestBobRubin's picture

Yup. We need to Vote with our Wallets. The gig IS up. So kill it in a non-violent manner.

It's the only thing they understand. And it's something we can all do.

Mon, 06/04/2012 - 14:18 | 2492795 walküre
walküre's picture

Cash belongs in your house, not the bank at negative interest. The banks (no matter which one) are all insolvent and overleveraged. All banks will go up in smoke unless they're holding lots of tangible assets. Any leverage is too much leverage when the shit show unfolds and everyone is pulling their deposits. Few weeks, months .. maybe if we're lucky.

If anyone is still scratching their head at the drop in paper gold and paper oil prices .. it is someone's liquidation sale. Huge amounts of money are being pulled from the system.

Cash is being hoarded by you know who. Converted into PMs and other tangibles. This has been going on ever since Ben started with OP Twist as opposed to funding the debt fuelled system with QE infinitum.

Mon, 06/04/2012 - 13:53 | 2492672 Herdee
Herdee's picture

I need a new furnace before winter sets in again.Can I get one of those free cheques from the government?All the dumb-ass politicians have to do is order some printing of funny-money some for me.

Mon, 06/04/2012 - 14:02 | 2492708 AetosAeros
AetosAeros's picture

I wait patiently for the big plunge; that moment when 60 percent or better of the industrialized nations people realize that they are sitting at the top of the roller coaster that is standing on one precariously balanced, termite infested, burnt out, wood pole and they see that 50 ft (2 years) down the line, the tracks have been removed and sold for scrap, their seat belts got taken on the ride up and are now adorning one of the escaped circus freaks golden parachute riggings, and the cars are missing a few wheels. That's the moment when everyone will want to jump and run back down the other way, right into the inferno that the operator (Benzo the Clown) started behind them once he hit the 'Go' (read: Print) button.

But I realize that the plunge may not come soon enough. Keeping the cart at the top for a while longer lets people either jump to their own demise or make peace with their own gods and resign themselves to the fates. Total apathy. I'm glad in all this time I chose to never go for the ride, at least not the one that most are on. I'm still stuck out here in the Midway getting fleeced by a carnival barker who's taking everything he thinks he can get from me, and I'm just standing in line to get something to eat.

Yep, one day they might wake up, but it hasn't happened yet, and they know they can keep everyon on the edge of their seats for now, thinking someone is going to call the fire department and send a ladder to help them all down, cause 'hey' that's what is 'supposed' to happen for 'good, hard-working' people.

Yeah, it's total shit. The transfer of wealth will only be complete when the bankers and economists finally turn on each other and fight for the last few scraps they need to fill their greed. We aren't even close. Their haing waaay too much fun dividing the spoils of our labor, our childrens labor, our childrens... you get the picture. Until we stop giving them our future, they won't stop taking it.

But who am I, just some old pissy bastard who is still waiting patiently. I won't do an Alexandros, cause I still see lots of options for me and my kid, but I will still fervantly yell at the bankers I see "Jump You Fuckers!" and hope that the choir finally joins in the next refrain.

Mon, 06/04/2012 - 14:34 | 2492728 ebworthen
ebworthen's picture

Off Topic:  Rush Limbaugh gives a hat tip to ZeroHedge on Part Time replacing full time career employment today (commented on the following article):

http://www.zerohedge.com/news/americas-transition-part-time-worker-society-accelerates-part-time-jobs-hit-record

On Topic:  Of course it is not enough money; you can't stuff black holes with cotton candy, even in Bizarro World.

Mon, 06/04/2012 - 14:09 | 2492746 Winston Churchill
Winston Churchill's picture

Totally I-N-S-O-L-V-E-N-T,

or Euro for short.

Mon, 06/04/2012 - 14:09 | 2492747 JackT
JackT's picture

I fixed it for the world...you're welcome.

 

http://s14.postimage.org/bj7r7gi1r/Bridgewater_Funding_Gap_FIXED.gif

Mon, 06/04/2012 - 14:14 | 2492771 MsCreant
MsCreant's picture

Nice work babe, nice work.

Mon, 06/04/2012 - 14:17 | 2492790 JackT
JackT's picture

thanks.  get me some scary US student loan or unemployment charts and I'll fix those too.  There is actually a filter in photoshop.  I guess the St. Louis Fed doesn't know about them yet.

Just doing my part for humanity...we're all in this together. 

Mon, 06/04/2012 - 14:19 | 2492798 tim73
tim73's picture

Americans arguing with this "euro crisis" is like a guy who brings fake notes to buy a Porcsche and argues that his neighbor could not buy that Porsche with his honestly earned money. Then even tries to lower the price. I mean WTF?!

You guys are already printing like mad hatters to cover your expenses and still arguing that Europeans cannot afford to bailout these banks/countries. At least we are trying to solve this the old hard ways.

Mon, 06/04/2012 - 14:25 | 2492823 AetosAeros
AetosAeros's picture

If Europe was truly "trying to solve this the old hard ways" there would be some heads on some pikes outside of Bussels along the road and a big dude named Mongo pulling a rope to reset the blade.

Yeah, I'm pointing the finger back at you. Until we all point at the assholes who started this mess, I guess that our angst will all be 'pointless'.

Mon, 06/04/2012 - 14:21 | 2492804 junkyardjack
junkyardjack's picture

Afternoon ramp in progress...

Mon, 06/04/2012 - 15:02 | 2492963 Legolas
Legolas's picture

Woo hoo !   It went positive just a few minutes ago.   They probably don't have anything left after that one !!  LMAO

Mon, 06/04/2012 - 14:27 | 2492828 LawsofPhysics
LawsofPhysics's picture

Same as it ever was.  Same two choices.  Purge the bad debt or inflate it away.  

Mon, 06/04/2012 - 14:29 | 2492839 Stock Tips Inve...
Stock Tips Investment's picture

These huge figures represent not only the financing needs in Europe. Behind them is very important suspuestos. For example, the fiscal deficit down to "zero" percent in two years. This means that these figures only reflect the funding ncesidades the existence of fiscal discipline that Europe has for many years. I think it's important to be prepared to ride the wave that is coming.

Mon, 06/04/2012 - 14:31 | 2492848 synsolve
synsolve's picture

Cramer to the rescue; have the US bail 'em out.

http://www.cnbc.com/id/47653557

Mon, 06/04/2012 - 14:40 | 2492875 Disenchanted
Disenchanted's picture

 

 

 

AIG CEO has the answer...

 

 

AIG Chief Sees Retirement Age as High as 80 After Crisis

http://www.bloomberg.com/news/2012-06-03/aig-chief-sees-retirement-age-a...

 

excerpt:

 

“Retirement ages will have to move to 70, 80 years old,” Benmosche, who turned 68 last week, said during a weekend interview at his seaside villa in Dubrovnik, Croatia. “That would make pensions, medical services more affordable. They will keep people working longer and will take that burden off of the youth.”

 

The crisis, now in its third year, threatens to destroy Europe’s 17-nation currency union as Greece contemplates exiting the euro and Spain sees its bond yields rise and banking industry falter. German Chancellor Angela Merkel hardened her opposition to joint debt sharing in the euro region as U.S. President Barack Obama singled out Europe’s leaders for not doing enough to arrest the crisis.

 

Greece abandoning the euro could be a disaster for the country and Europe must work to keep that from happening, said Benmosche, whose company was the world’s biggest insurer before it took a U.S. bailout.

 

“People in Greece have to see there is no easy way out of this” and the government must get them to work longer, he said in the June 2 interview on the Adriatic coast. “If not, and if they go to their own currency, I think they will see huge inflation and it will be devastating for people on fixed incomes.”

 

 

 

Mon, 06/04/2012 - 14:45 | 2492896 SmoothCoolSmoke
SmoothCoolSmoke's picture

12 pt SPY ramp out of nowhere.  MotherForkers!

Mon, 06/04/2012 - 15:07 | 2492977 walküre
walküre's picture

Frau Merkel, it is now almost lunch time in New York. We need your statement very soon. Danke.

Frau Merkel, the statement is as follows: (the statement as ordered by the bankers)

Frau Merkel, also say that there is another meeting this week. Your schedule is available. No need to double check. May we remind you that we own you?

Frau Merkel, there is this nasty bit of Germany's history that we would really like to forget about. Just don't remind us, please.

Frau Merkel, the Eurobonds don't need to be popular. Just sign the papers. We will not talk about 'die Vergangenheit'.

Frau Merkel, that went well. The markets believed it and turned around at least on the surface. You just bought us some more time.

Frau Merkel, we will contact you later this week. Do not say anything until we speak to you again.

Mon, 06/04/2012 - 14:53 | 2492934 falak pema
falak pema's picture

"I came here as a missionary for the Indians. I think the white man will need me more..."

River of no return... a classic film with MM and a wonderful epitaph to our current age...

"One silver dollar , one silver dollar changing hands..cHanging hearts, changing lives, changing hands...

Love is a shining dove...wasted in love, in the dust of time..."

Even the Limerick king will have a problem beating that! 

Mon, 06/04/2012 - 15:09 | 2492983 HardlyZero
HardlyZero's picture

Math is overrated. /sarc

Mon, 06/04/2012 - 15:10 | 2492987 MarkTwainsMustache
MarkTwainsMustache's picture

Does that exclude the fact that Spain and Italy are supposedly responsible for 1/3 of the EFSF contributions?

 

Tue, 06/05/2012 - 05:59 | 2495082 cnhedge3
cnhedge3's picture

Will rates stay low, QE or no?
http://www.cnhedge.com/thread-7086-1-1.html

Sat, 06/09/2012 - 13:41 | 2510429 russwinter
russwinter's picture

Once Spain takes the money, then their obligation in the EFSF bail out mechanism would be taken over by others.   Those "others" are Italy, whose share rises from 19pc to 22pc.  France's share rises from 22pc to 25pc, and Germany's from 29pc to 33pc.

The smaller core countries like the Netherlands, Belgium, etc will pick up a little more as well.  By piling more on Italy, and Belgium and for that matter France,  the credibility of the guarantees given to EFSF bonds would collapse.

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