The Check Is In The Mail

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Mon, 10/24/2011 - 08:35 | 1803804 trampstamp
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Is my check in the mail? Bastages! Bring this cow down already

Mon, 10/24/2011 - 08:43 | 1803839 LeonardoFibonacci
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At least Silvio Berlusconi has got it right within the EU!!!!

http://www.youtube.com/watch?v=81vQje8bWmo&feature=related

Mon, 10/24/2011 - 08:45 | 1803843 max2205
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We are inches from comfirmation of a new bull market...for what reason i don't know or care

Mon, 10/24/2011 - 08:49 | 1803854 WonderDawg
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That's good stuff. Inches within confirmation of a new bull market. Hahahaha, that's good, man, where do you come up with your material? That's hilarious, and fresh, too. Can I get some of that stuff you're smoking?

Mon, 10/24/2011 - 08:59 | 1803894 redpill
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So if I read this right, the grand plan is to reissue the same debt from the same bankrupt EU nations, slap the EFSF label on it, and then pretend it's AAA?

I'd say that's trying to put lipstick on a PIIG.

Mon, 10/24/2011 - 09:02 | 1803904 WonderDawg
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Sounds kind of like the sub-prime MBS deal all over again.

Mon, 10/24/2011 - 09:05 | 1803915 redpill
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That's it! Europe's problem is they don't have enough financial derivatives tied to the performance of their sovereign debt!

Mon, 10/24/2011 - 09:35 | 1804015 Harlequin001
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Eurpope's problem is that their financial bullshit is far nmore visible than the Fed's.

But it's still the same bullshit, and the Fed will ultimately fare no better...

Mon, 03/12/2012 - 08:26 | 2246803 Delia39
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Would be interesting to see what would happen to all the greedy pigs if humanity just called it quits on the current currencies. "Sorry those Euros & Dollars are worthless here. Feel free to wash some dishes or bus some tables though." sciatica treatment

 

Mon, 10/24/2011 - 09:01 | 1803899 SheepDog-One
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Or, thats what theyre desperately trying to make you believe.

Mon, 10/24/2011 - 08:47 | 1803845 Harlequin001
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Is anybody else having problems transfering USD through the European banking system?

Mon, 10/24/2011 - 09:01 | 1803898 redpill
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The ECB sure isn't.

Mon, 10/24/2011 - 08:25 | 1803805 GeneMarchbanks
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'No wonder the “Occupy” movement is spreading.'

I'd love to pretend that the movement is spreading because of this but I can't for the simple reason that it's not. There are ten kids overwhelmed with debts and unemployment for every person who joins that has deep understanding of the actual way modern finance operates.

Mon, 10/24/2011 - 08:29 | 1803813 Chief KnocAHoma
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Chief say time to get out da city - buy a lake house and fish for food:

www.blackpineslakehome.com

Mon, 10/24/2011 - 08:48 | 1803823 DormRoom
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There are ten kids overwhelmed with debts and unemployment for every person who joins that has deep understanding of the actual way modern finance operates.

 

Modern finance isn't functioning properly.  You have banks that have been bailed out by taxpayers, and these tax-payers are being foreclosed on by the aforementioned banks. 

Banks aren't lending, cuz no wants debt, so they use those reserves, lend to  hedge funds, that speculate on commodities, pushing up food/energy cost for the 99%.  

 

Governments provide a huge social safety net for banks, while cutting it for the 99%.  Somehow, in our social contract, banks have taken a priviledge position, undermining the bargaining position for the rest (99%).

 

#occupywallstreet

 


Mon, 10/24/2011 - 09:23 | 1803973 GeneMarchbanks
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+ 1

Agreed. Two things, most of the protesters do not seem to articulate anything even remotely close to this when interviewed.

My other point is simple. Now that you've put together a coherent argument no doubt, what are you proposing and/or demanding?

Mon, 10/24/2011 - 11:50 | 1804573 buyingsterling
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The OWS focus is too broad, so lots of innocent people will get swept up in their net. There's a big difference between the 1% and the .01%.  Are 3 million+ Americans really the enemy, or more like 30,000? .01% means about 700,000 people run the world. That still sounds high.

Mon, 10/24/2011 - 09:49 | 1804058 saiybat
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I lost the link to the poll but 49% of OWS protestors in NY support bank bailouts. All I can find is a bunch of sites with a spin on it so take it for what you will. I don't get it. Why would anyone like the merger of state and corporate power? Am I out of touch or has politics taken another reverse flip?

Mon, 10/24/2011 - 10:15 | 1804127 DormRoom
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bank bailouts were necessary, if we wanted to preventa global depression.  Reforms attempted to seperate the utility, and speculative divisions of finance.  Frank-Dodd & the Volcker rule  were attempts at addressing these problems, but the bank lobbyists diluted it, losing most of its effectiveness. We bailed them out, but they continue behave perniciously, as though we didn't. So we are in a worse position.  Even bigger banks; Even less likelihood for the governments to let fail.

 

OWS

Mon, 10/24/2011 - 10:30 | 1804177 saiybat
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If banks went under they wouldn't be able to lend and lending leads to growth and they're not lending now even though they got their bailouts. Same situation in either case. The banks are still here with the same problem. Is another bail out even more necessary since it's worse?

Fri, 03/02/2012 - 08:15 | 2216306 l.hauri
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I will check it! I am sure that it will work perfect for me. yacht charter marmaris

Mon, 10/24/2011 - 09:04 | 1803897 rwe2late
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GeneMarchbanks

 It is somewhat condescending to believe that protestors are incapable of the "deep understanding" (which you doubtless possess) that  bankster finance is connected to unemployment and debt.

Given the causal connection to unemployment and debt, it seems fair to say that past and ongoing bankster shenanigans are causing the "Occupy" movement to spread...

(fair even if one presumptuously believes the "Occupy" protestors lack  the alleged "deep understanding" supposedly necessary to motivate their protestations against Wall St. and the Fed).

 

Mon, 10/24/2011 - 09:34 | 1804010 GeneMarchbanks
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''It is somewhat condescending to believe that protestors are incapable of the "deep understanding" (which you doubtless possess) that  bankster finance is connected to unemployment and debt.''

I don't base my belief(s) on whether or not something is condescending or not toward others, my concerns here are genuine.

''Given the causal connection to unemployment and debt, it seems fair to say that past and ongoing bankster shenanigans are causing the "Occupy" movement to spread...''

I'm not ready to say that they are causing Occupy to spread. I won't deny correlation. Nonetheless, the movement is fractured and isn't really posing any threats to "banksters"... yet IMHO.

 

Mon, 10/24/2011 - 09:11 | 1803931 maddogs
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modern finance - The inability to pay debt(student loans), the ability for bondholder and counter risks to profit(student loans)

Mon, 10/24/2011 - 09:46 | 1804050 xcehn
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Don't forget about the people drowning in underwater mortgages, who bought houses they could easily afford and put down the traditional 20 percent.  Many young people emphasising only their student loan situations do the movement a disservice by failing to mention the misfortunes of others.

Mon, 10/24/2011 - 08:28 | 1803810 djsmps
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Luckily, China and Brazil will bail out Europe.

http://www.cnbc.com/id/45006730

Mon, 10/24/2011 - 08:38 | 1803830 CPL
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lol...whatever.

Mon, 10/24/2011 - 08:59 | 1803887 A Man without Q...
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This was a desperate attempt to look like they had more than one "idea".  As far as I know, there is no confirmation they will invest in the EFSF, which still needs funding, never mind the second derivative super SIV....

Mon, 10/24/2011 - 09:49 | 1804060 xcehn
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The Chinese like to TALK big, but they are not willing to rescue Euroland when the chips are down.

Mon, 10/24/2011 - 08:28 | 1803811 Manthong
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I like Reggie's description "one big, incestuous pool of concentrated risk"

http://boombustblog.com/BoomBustBlog/As-the-markets-climb-on-top-of-one-big-incestuous-pool-of-concentrated-risk.html

Mon, 10/24/2011 - 08:48 | 1803850 Harlequin001
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of course, no body knew that did they...

Mon, 10/24/2011 - 08:30 | 1803815 TooBearish
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The EFSF will be rated AAA - does that help u Pete?

Mon, 10/24/2011 - 08:42 | 1803837 dwdollar
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I'm sure they could trade something with Warren in exchange for the Buffet AAAA rating.

Mon, 10/24/2011 - 09:38 | 1804024 Harlequin001
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'in exchange for the Buffet AAAA rating'

all they need do is put a 'H' on the end of that and it will sound so much more accurate...

Mon, 10/24/2011 - 08:32 | 1803818 Nascent_Variable
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French sources have confirmed that the parties have reached a final agreement on the seating arrangement at the next conference.  German sources vehemently deny that such an agreement has been made.

French sources are now confirming that they forgot to reserve a conference room, so the seating arrangement agreement is on hold indefinitely.

Mon, 10/24/2011 - 08:33 | 1803822 Shitters_Full
Shitters_Full's picture

Perfectly illustrates where they're at in the process.  Nice one.

Mon, 10/24/2011 - 08:37 | 1803827 digitlman
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*LOVE* the username!

 

It's so appropriate!

Mon, 10/24/2011 - 13:19 | 1804940 Shitters_Full
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Yes, it's time to flush this system and start again.

Mon, 10/24/2011 - 08:50 | 1803856 Harlequin001
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'Perfectly illustrates where they're at in the process.  Nice one.' - and not one mention of who is paying the bill!

Mon, 10/24/2011 - 08:54 | 1803873 WonderDawg
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Username from one of my favorite all-time movies. And it's the coming season, too. I'll watch it two or three times this year, probably. Unless, of course, my puts move into the money, at which time I'll probably hire 4 hookers for the month of December.

Mon, 10/24/2011 - 08:55 | 1803877 oogs66
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lol, they spend more time organizing these summits than they do on the details of the plans or their own budgets...probably have a bigger staff of conference organizers than financial analysts

Mon, 10/24/2011 - 09:06 | 1803918 Mae Kadoodie
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The IMF has just announced that they have a conference room that is available so an agreement between the German and French seating charts will be valid.  Bondholders will be invited to such meeting.  Dress is business casual and haircuts required.

Mon, 10/24/2011 - 08:33 | 1803821 John Law Lives
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The EU has been doomed for a long time. Much of Europe is rapidly aging, and the demographics do not bode well for them. It is pure folly to think a select group of bureaucrats can now come up with a comprehensive bailout plan to "fix" this problem.

They will kick the can down the road until it can't be kicked... and then hit the R-E-S-E-T button.

100% FUBAR.

Mon, 10/24/2011 - 08:37 | 1803826 tim73
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Yeah, so much better in the USA with hordes of janitor Latinos invading the place from the South.

Mon, 10/24/2011 - 08:40 | 1803832 John Law Lives
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Nobody said the USA didn't have its problems.  However, the subject of this thread was re. the EU.

Mon, 10/24/2011 - 08:41 | 1803836 spankfish
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If 100% FUBAR was what was being served as our last meal one of its main ingredients would be CDS.

Mon, 10/24/2011 - 08:47 | 1803848 campag
campag's picture

most US stock traders dont know or care where Europe is ! So to infinity and beyond for US stock prices. Trying to short stocks when so firmly bid up in the last half hour of trading is pointless.  

Mon, 10/24/2011 - 08:58 | 1803886 SheepDog-One
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'Most US stock traders'....these arent the droids youre looking for.

Mon, 10/24/2011 - 08:51 | 1803859 Saxxon
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To say 'no one wants debt' we have to define our strata.  Joe Sixpack would take a new Visa card right now, even at 29 percent APR; but Massa Bank will not give it to him, uh uh.  Banks don't lend into contractions.  There is not a damn thing our political masters will do because they are owned by the banks.

One of the advantages to the Troika's fingerfucking and kicking the can is that it keeps the short-selling vultures at bay.  I still believe the grand announcement, if we ever get one, will be followed by the most brutal sell-the-news swathes in the history of commodity and equity markets.

The Troika knows they cannot hold back that hurricane and that efforts to do so, such as banning short selling or any permutation thereof, will get steamrolled.

Fact is none of the white economies have anything left to throw at the debt hydra.  The social engineers, our masters, cannot create jobs, force banks to lend, et cetera.

Mon, 10/24/2011 - 08:51 | 1803861 mayhem_korner
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Hey - CNBC declared victory this am when they said they were right that the U.S. is not heading into another recession.  I agree.  You can't head into another one until you exit the first one.

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