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Brussels... We Have A Problem
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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Dive! Dive! Dive!
barliman
Tax evader Tim Geithner to the rescue!
LOL.
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"
Das tut mir sehr leid.
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.
lol..not bad MDB (not your best, but not bad).
Van Rompuy..."visionary"...ha.
Reductio Ad Absurdum, FTMFW!
With a little Poe's Law thrown in for maximum troll-bait.
Why don't these charts ever go past 2012?
...Oh. Well, shit.
Mayan thang
'Funding gap?, please, just borrow it...
easy...
I don't understand who is giving MDB the down arrows. This is indeed good stuff.
MBD, you want a job at the Fed, don't cho? You are awesome at spin.
iBelieve
now give me my $3,000 thingamajig'z
There's a Mr. Farage on line 2 for you. He's asking for your address and mentioned something about 'kneecaps'...
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 Sufficehttp://online.wsj.com/article/SB1000142405270230482130457743863363210234...
>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.
"In other words, gold might suffer from a multiple personality disorder."
Yeah like when it goes under $1000 an ounce.
There is nothing more bullish than articles like this in WSJ!
This makes me feel great
I don't know if I should laugh or cry at this troll post, it's ridiculous yet it is reality in the EU...
You should submit stuff to the onion.
lmao I'm loving the sarcasm! Brilliant M$B.
"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.
Mr.Trololo just passed away today... :(
The fucka Barroso is still here, damn day!
Please let me know who your supplier is, because I want to smoke the stuff you are smoking.
Please let me know who your supplier is, because I want to smoke the stuff you are smoking.
...and who, disguised as clark kent, fights a never-ending battle against Progressive boobs, butt-wipes and the endless parade of useful idiots!
People who found your diatribe interesting also liked this stroy:
http://dba-oracle.blogspot.com/2011/01/giant-panties-for-morbidly-obese-woman.html
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.
MDB is George Soros!!
'They need to start believing in the dream...'
Best advice yet...
Europe aint dumb enough to fill that gap but they do have Ben Bernanke/IMF on speed dial.
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.
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.
I gave you an arrow up, not because this was funny, but because it is simply true.
The math part had already been accomplished. They refer to is as "Outcome-based Education."
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
FF>>
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.
No green BRUXELLE SPROUTS?
$3k worth of peas is all we need now to stave of any liabilty.
He didn't mention if that is $3K in today's dollars or post printing press dollars...
Can't Europe find a thingamajig to fill that gap?
Nice!
Would you put your thingamajig in there? I'm not putting my thingamajig in there, unh-ah.
Not even if it was the very last hoohah.
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.
Suicide markets.
Ghadaffi Loyalists take Tripoli airport:
http://www.foxnews.com/world/2012/06/04/libya-armed-brigade-surrounds-tr...
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.
No problem.just shift our al-cia-da guys in syria back to libya.
[Deep sigh]
They need to stop.
Just. Fucking. Stop.
If we all close our eyes the debt monster will go away.
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
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!
I thought Grexit was the Green condition. And Grstay was Red.
Where is the false flag to distract the sheep from our bumblings threat level?
Likely the day after the next "Sorry, but we lost X trillion dollars of your money." mea culpa.
It's been replaced by a $3000 check with Obama's face on it. And like Obama, comes in the male, er, mail...
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.
We're duitifully working on that with both Syria and Iran. One will deliver a nice war for us any day now.
My mother's social security presciption medication money at the FED got their back.
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.
All fine and well on Threadneedle St., perhaps.
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.
Would you think any less of me if I said I am ENJOYING THIS SH*T !?!?!?
No. I couldn't possibly think less of you.
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.
Yes but you have to go to Kenya to cash it. Luckily Trump has an excursion rate.
A barbarous thingamajig is still a thingamajig...
Searched Amazon for it. For some reason I couldn't find it. Must be backordered.
This is what ur looking for?:
http://www.dailymail.co.uk/news/article-2153780/Gold-plated-vibrator-wor...
You could always try substituting it with the whatchamacallit
What happened when the USSR ran out of other peoples money to spend?
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
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 ...
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.
Dead on:
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.
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.
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.
Just create more debt that is not backed by anything other than vague central bank/sovereign commitment to the system.
Problem solved.
A Princeton grad! PhD, obviously. What class?
Brussels... We Have A Problem
Yes, it's called Brussels and we're not talking Sprouts
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...
PIGS yields rising again
ECB over night facility close to 800b
http://www.cds-info.com/
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.
It's all fun & games & politics, until some really pissed off & screwed folks start shooting....
opportunities and targets galore
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.
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.
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.
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.
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.
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.
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.
Totally I-N-S-O-L-V-E-N-T,
or Euro for short.
I fixed it for the world...you're welcome.
http://s14.postimage.org/bj7r7gi1r/Bridgewater_Funding_Gap_FIXED.gif
Nice work babe, nice work.
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.
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.
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'.
Afternoon ramp in progress...
Woo hoo ! It went positive just a few minutes ago. They probably don't have anything left after that one !! LMAO
Same as it ever was. Same two choices. Purge the bad debt or inflate it away.
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.
Cramer to the rescue; have the US bail 'em out.
http://www.cnbc.com/id/47653557
AIG CEO has the answer...
AIG Chief Sees Retirement Age as High as 80 After Crisishttp://www.bloomberg.com/news/2012-06-03/aig-chief-sees-retirement-age-a...
excerpt:
12 pt SPY ramp out of nowhere. MotherForkers!
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.
"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!
Math is overrated. /sarc
Does that exclude the fact that Spain and Italy are supposedly responsible for 1/3 of the EFSF contributions?
Will rates stay low, QE or no?
http://www.cnhedge.com/thread-7086-1-1.html
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.