Daily US Opening News And Market Re-Cap: August 19

Tyler Durden's picture

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Sudden Debt's picture

So Finland has the smartest politicians in the world... SO WHAT?!


Thorlyx's picture

Give my your money and I will agree to lend it back to you. Geniuses...

When governments are seriously doing these weird things, it is really time to get gold..


disabledvet's picture

EXACTLY! The problem is never asking for the money but the fact that those "asshole Finns actually got it." Don't they know they're dealing with Austrians? Now hear their whine with that cheese!

westboundnup's picture

Welcome to another edition of THUNDERDOME!

RunningMan's picture

thunderdome was on the other night. two men enter, one man leaves. when two tribes go to war...

chinaguy's picture

Rumors of Emergency Fed meeting? impact on EUR/USD & Futures...

RunningMan's picture

Markets plunge, world collapsing. Markets surge, bulls are running.  Seriously, the whole oscillation between complete collapse and future is now type propaganda is worn thinner than a spider's thread.

Moneyswirth's picture

Reuters story:  "Tempted to bail on stocks?  Think again"




The sheeple are so boned, its not even funny.  The last few weeks have been as orderly an exit as in recent memory.  Wait till the water starts rushing in.  

zorba THE GREEK's picture

At least I won't be bored today.

boiltherich's picture

And then there was this guest opinion at at CNBS from Paul Donovan, deputy head of Global Economics:

 "Let’s have a quick reality check on the United States, every single real economic data point this month, every single data release on the real economy, has come out better than expected… better than the market was looking for," Donovan said.

I really almost fell out of my chair when I saw that, I cannot recall ever seeing such a blatent outright lie in a major financial website, I mean you often see spin, you will occasionally see bending of the truth, and you will even see the rare lie that is phrased in such a way it can later be retracted as an error, but this is just sinister in it's scope and depth of lying.

He added there were reasons to be optimistic about a recovery in the US and the media had overblown the significance of the debt crisis, sparking negative market sentiment.

"The sentiment data has been negative and why is that? Because you have wall to wall coverage across all media in the last month telling you that the debt crisis is huge," he said.

"There are problems in the States, but the consumer's spending more money, they've got more income, they've got more jobs, the banks at least in the last survey were saying they're prepared to lend more money… it's not a strong recovery, but at the same time what I think we've got at the moment is excessive," he explained.

Every single thing this guy said is an outright lie, it is not a mistake, it is not a fantasy, it is a lie.  According to him there has been not a single data point that was a miss in the last month. 

Published: Friday, 19 Aug 2011 | 7:34 AM ET

By: Antonya Allen
Assistant Editor, CNBC.com

He whines about lack of political leadership in Europe, which is true enough, but then says:

"What we want is a European statesperson. Not a politician, a statesperson to come out, take the lead and say: You know what? I'm going to do what is in the interests of Europe," Donovan suggested.


However, he said as the situation becomes "unremittingly bad" politicians will be forced to take "extreme action" in response to extreme volatility in global markets.

And who may I remind you was Time Magazines Man of the Year in 1938?  A statesman who negotiated "peace in our time."  Why none other than that little corporal from Austria we all know and love.