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BOOM! into the new week
Semantic Debate strikes back, Bitchez! Euro 1.4019! ;-)
Relax... don't do it...
"Relax don't do it When you want to suck to it Relax don't do it When you want to come"
Sorry, but I don't want to suck to it. Do you?
Monday... it's only Monday. Sarkozy should be muttering to himself like schizo while the Bernank is now going to have to deliver one hell of a speech on Wednesday.
"it's only Monday. Sarkozy should be muttering to himself like schizo" How's that different than any other day? :)
The Fireworks will come early this year
Quick,To the time machine
This sure is a long process. I wish they'd just get it over with.
Top Ramen for Christmas. Ask Costco to drop ship them. Get the early bird specials. Western nation Christmas is gonna be dreadful. No IPHONE, IPAD, Acura and diamond rings and his her toys. Stupid Fucks
Happy Hallowe'en, Bitchez!
It's like leaving the bowl of Halloween candy on the front porch with a note that says "Please only take one piece". Did they not know that the Morgan boys and the Goldman girls live near by?
First kid to knock on my door wearing a Vampire-Squid costume gets all the candy.
you missed horrendous inflation data out of italy
Who the hell would even think about buying a CDS on any PIIGS now? Isn't it absolutely clear that there will be no "credit event" ever, ever, as long as Barc/HBC/DB/etc are writing them?
Want a good laugh?
Now that's comedy...
Mort de rire :)
What are the odds: black monday on haloween?
It isn't really contagion. Italy had more potential than any to fall of the cliff. Berlusconi has borrowed his way to power. He has maintained his power due to borrowing. And the bill belongs to the tax payers. I assume mr Berlusconi has some nice riches in Switzerland, Austria, Panama etc.
His popularity in Italy over the years have shown the problem with democracy. No one votes for the guy who says "HIGEHER TAXES" "LESS WELFARE" "LONGER WORK HOURS" "RETIRE LATER". The one who gives gets the votes even if what he gives is built on nothing but a house of cards. In that way, people deserve what is coming. It is simply the democratic response to the house of cards crumbling if you like.
I am sad it always have to really crash before people wake up. Berlusconi and the bankers will be criminalized. Who cares, the end result is less welfare, longer working hours, higher taxes and a higher retirement age.
That said. I am afraid that contagion can happen NOW. France is the key. This is where the fences have to be built. We can not afford to "lose France". We REALLY CANNOT AFFORD TO LOSE FRANCE. But, we will! Then good luck to us.
sorry, could not resist... "Berlusconi has borrowed his way to power" ??
his four governments have shrinked the gov deficits, compared to the others...
not enough for my taste, but at least they are going in the right direction (including brawls in parliament over the thorny issue of extending the pension age)
I agree with you over France - there is the key to all
My little 20min research on this gave me this answer:
Berlusconi, who has served as prime minister for about half the time since May 1994, has overseen a 13.5 percent cumulative increase in debt per capita while in office. The debt rose 5.1 percent under four other premiers in the period.
He has obviously had some tough times with higher borrowing costs and recessions baked in, but he has also had some glorious bull runs to surf on.
Eurodollar, my views on Italy go back to the late sixties and there is this little detail of what happened to all budget deficits since 2008. Cumulative nominal amounts are always higher for the later deficits, thanks to inflation. Shall I concede the point and retract to say that I "endorse" the Berlusconi Govs II + III only? Or shall I just concede and write a lame "without him it would be worse?".
The point I'd like to make is visible on the Bloomberg graph you've kindly provided: all Italian govs since quite a while were on a containement course. I just can't agree with this "uh, this man criminal, this man bankrupting country". Now, if they just would tighten the spending belt a notch...
"Berlusconi has borrowed his way to power"? No. Your graph is not conclusive.
Note how the article is structured: "The debt burden almost doubled between 1982, when it amounted to 63.1 percent of gross domestic product, to 121.8 percent under Berlusconi’s first government in 1994"
Berlusconi I started in 1994 and ended in 1995. The article gives the impression his gov I doubled the debt from 60% to 120% (with 4.8%?). Just as a reminder how some little data is fudged in words. If the man says "I have inherited a huge debt mountain" and he refers to his first gov, then sorry, the rascal is right.
Ghordius; Thanks for the insight. As always there are shades of gray and most certainly you prove that point. Trust me, it is most appreciated! I am here to learn, and to get my views ripped apart :) I went about acquiring some experience first, now I am studying the theory. Now I find it too facinating. It consumes me. I can't stop reading, looking at videos or let the topic be at any family dinner. Feel free to crtitizise or bring me up to speed at any time, I love it.
Economic history (even the sixties is history for me) is something I haven't had the time to go through yet, but I will.
My friend in spirit, I have to thank you. If you are interested in the EURUSD, don't miss:
IMO the MegaBanks want 1.3 for a big fat Xmas bonus, so be careful...
and get an avatar! Cranky-old-geezer has the best avatars I've seen here around... mine's has only annoyance value
But the french will never surrender the fight - when the going gets tough the french...
Oh crap. We're doomed.
shrinked = lapsus for illusively ?
'his four governments have shrinked the gov deficits, compared to the others...'
Shrunk. Grammar aside, EU troubles got you a bit frazzled, much to lose for EU member states no doubt.
Let's just say it "shunked" and split the difference...
Shrunk. Thanks. Frazzled? Perhaps, I'm not sure about that. Some bad dreams, yes.
Much to lose? Well, yes, the way I see it some part of the MSM and the "alternative media" have lost sight of the fact that we are all in together.
"We" is the "First World & Allies", the biggest commercial "Empire" the world has seen. "We" is all NATO+BRICS.
Don't get me wrong, "something's gotta give", IMO. But just "bashing" the "usual suspects" just because Murdoch's goons want their media market shares is a bit ignorant, IMHO.
Fractional reserved currency systems have all the contagion prevention properties of condoms made out of herpes scabs lubed in clap juice.
Doc says this was a common reaction to the sedative administered earlier. He asked us not to freak out when we see the cocoon if we go back in there.
The trend I want to learn more about hasn't started yet? Something about Europe borrowing RMB instead of China buying the lolbonds? And then notChina can issue RMB denominated paper?
meh. stupid rabbit hole.
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