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Complete summary: Mooooooooooooooooore Bullshit!
Good summary, I do believe. but this 9th, then the 16th, 19th, 21st, 25th... all charged dates this year. Slippery slopes.
I'm no prophet, but I do like profit, and there are three nations who have not been often (relatively speaking) mentioned in the Main Lame Ass Stream Media that warrant far more discussion because they either have some of the highest real debt to GDP/GNP levels of any nations AND/OR have some of the largest aggregate toxic debts outstanding emanating from government banks (i.e. nationalized zombies) and private or quasi-private banks in the world AND/OR have some of the highest levels of misallocated capital investment and dislocated markets that go along with such gross misallocations of capital.
Two of the three are in Europe:
1) The U.K. certainly meets the first two criteria above, with the highest % of debt to GDP of any nation, as even stated OFFICIALLY (1000% to GDP) AND toxic loans galore, with many more going south as their housing bubble has yet to pop in earnest as of yet - but it will;
2) France, which like the UK, has a massive debt to GDP ratio as stated in OFFICIAL terms (and what they're not disclosing officially is truly frightening, much like the U.S.), along with the epic levels of toxic loans still just floating out in animated suspension, like Wile E. Coyote who ran off the cliff - legs still moving furiously, catching air; and
3) China, which Bangs Dae-Ho on the 2nd and 3rd criteria above, and hard. We're seeing a genuine slowdown in Chinese manufacturing, caused by the delerium tremors in the U.S. and EU, which is now starting to cannibalize their domestic property market and float to the water's surface all the HAZMAT level loans on regional Chinese bank and PBOC balance sheets, caused by a central planning wet dream party that went on for the last 10 years, where trade surpluses were shoveled into the most inefficient and bizarre domestic stimulus that even Fellini would have imaginative difficulty in besting (after dropping acid).
+1 for the Dae-Ho referrence alone!
Going down, Bitchez!
Someone needs to tell Europe that the way out of this debt problem is to double down with more debt. And eat your peas.
...the good news about that plan is that the unemployment rate goes down. The bad news is that there won't be a labor force.
And also to start lying better about unemployment, GDP, etc...its ALL GOOD in the age of the Maniacal Monetizers.
Equity markets are dumb.
Shanghai dropped over 1% again last night. It is about 30 points off its YTD lows.
But #btfd as apparently Santa's workshop is providing lots of toys (don't worry if 50% of them end up on the island of misfit toys).
Sadly, the market will not wake up until Europe admits failure or when Q4 results are released. While traffic as stores will be up, most of the sales were on items that the store lost money on. Retail sales will be flat YOY at best.
Even sadder, theyll pull the rug out from equities or 'wake up' when they decide it serves them best, and it will probably be on a big up day too.
More of the same but the market has already started rewarding them...short of an October downdraft, the Europeans have been masterful in headline misdirection and I expect more of the same...Dow 13K by January...
OT: This was an LOL article. http://www.bloomberg.com/news/2011-12-05/no-lost-decade-for-s-p-500-as-market-value-bias-masks-66-rally-since-2000.html
Take inflation into account and it was quite a pitiful decade.
WTI/Brent are looking forward to massive sanctions against the 4th largest crude producer. This is bullish for the consumer. I have noticed that gas prices haven't seemed to keep pace with crude prices in my area.
what a piece of BS!!
this sums it up: "“It was only a lost decade if you anchored on equities as your core holding and you relied on cap-weighting [..] It was a lost decade for most investors, but it didn’t have to be."
bb has one of the most ignorant team of "journalists" out there. why do they even bother writing such pieces. what a bunch of shitheads...
everybody who can read a normal chart understand that the last 10 years where completely lost for the public. and if you go back to 1998, there you have it.
CONVERT ALL WEALTH INTO BONUSES BITHEZ! MAKE BANKSTERS RULE THE WORLD!!
This is a european jackson hole 2010 and subsequent QE. Only masochists short
MetLife: Exposure To Greece $377M, 'A Very Manageable Number' [Dow Jones]
uh huh...100% writedown on $377M is, uh, $377M. Very manageable indeed.
It's easy when the $377M is other people's money (be they depositors or taxpayers).
What the hell is going on in India with the Rupee?
Those software companies, paying those bloated salaries need one of two things to survive. Weak Rupee or Strong Dollar.
Dollar is still refusing to show it's hand re. the final swan dive before the plunge.
So the rupee is kept weak, weak protestations from Central Bank notwithstanding.
Both Bulls and Bears now seem to be expecting a santa rally off the back of Euro optimism.
It's beginning to look a bit too obvious to be true.
Name 1 EU meeting where they constructively solved a problem... any problem.... don't worry... I've got time....
The reason Merkel's diet wasn't working was solved by Sarko in the 14th crisis summit I believe
"says she is on a diet and then helps herself to a second helping of cheese."
That's all I can think of.
woof woof, going nowhere. Just floating in shit. Can we have hot babe pictures instead. This Euro crap is getting tooooooo fucking old.
"Are there any adults left in the room?"
I know we've all seen somebody make that comment before online, but to be blunt, why should there be any adults left in the room if there are barely any adults left in the world?
I was watching our local Pittsburgh CBS station this morning, and upon completion of the sports segment - in which we giddily learned for the 1,000th time that the Steelers beat the Cincinnati Bengals yesterday - the weather forecaster came on and gleefully spouted that seeing those highlights must surely put a spring (or a hop or something or another) in our steps this morning.
Yes, glorious day indeed!
Very few adults, just many large children.
Cue 'I've Got You, Babe'
A key insight from this morning's business radio 'Euro crisis roundup': There appears to be NO signature musical theme for Belgium. But, I made up a rumor that this musical deficit crisis will be addressed at this week's critical meeting/summit/weinerfest.
Allah be praised, Europe is saved! Er, wait, that cheer is still kinda 'up and coming' isn't it....Hoorah for the diverse and happy peoples of the EuroGroan! Um, we'll get back to you on the cheer.
Just STFU and BTFD.
why no jingle for belgium? pedobear has his day off
The Caliphate thanks you for your business.
Perfectly good reason to pre-pump ES...there will be NEWS Friday!
Hey, believe it or not Jon Corzine's Italian debt trade is now working. That in essence says it all. The stock market has become so untrustworthy even the most insane trade works out.
I really don't see Europeans giving up their sovereignty without a fight...
I really like your way of expressing the opinions and sharing the information. It is good to move as chance bring new things in life, paves the way for advancement, etc.
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