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They can't handle it... until they find a new creative way to cover it over.
"Hey -- Trichet ! Ba fangul !"
IWM just printed high of the day, wait for it.... $66.60
juncker....good thing he is not Moody's analyst rating junk bonds.
well, fish, they dont need a new, creative way...
just the old standby...
tptb have trade routes to secure...
resources to grab...
labor to exploit...
+1 to fish
JUNCKER SAYS TRICHET IS A DOUCHEBAG
TRICHET RETORTS JUCNKER IS A CUM DUMPSTER
Deutsche Bank says Tricket is junk
Deutsche bank burns down 3 more banks to cover tracks.
Those who can't stay optimistic will be put out to pasture, Junker's departure is iminent.
Smells a lot like exactly that.
They have been milking the Tuesday announcement of agreement to agree for about 48 hrs now. That has been the plan for weeks. Run to the microphones and say things crafted so that the newsreader computers will pick up.
He did make the announcement from Luxemborg. Was that Mr. tax free talking or Mr. taxpay?
Tylers are quite the comedians these days.
put a different way
only one those 4 statements is true
JUNCKER SAYS BEATINGS WILL CONTINUE UNTIL MORALE IMPROVES
Oh my. There's a need to rescue Italy in our future?
Excuse me a moment. I have some trades to execute.
ECB will suppress Italy's government bond yields for years to come.Most likely outcome in my opinion will be a G8-meeting in early spring announcing a worldwide cross currency peg (USD, YEN, EUR, RMB).
Won't solve the debt problem.
Won't solve trade imbalances.
Won't solve structural unemployment crisis.
Won't solve national budget crises.
all irrelevant in the face of the oil problem
Problem? Where? My gas is 3.29 and will continue to drop in the face of deflation
Yep, the gas will be cheap, now the bribe that you may have to pay in order to access the gas or your security while pumping gas might be a bit expensive in the future.
That's how it works. Oil price surges and destroys society's economies. There will now be an attempt to grow, and that will ramp demand and because supply can't, price will spike again.
Then down goes society's economies again . . . and again . . . and again, lower each time.
Your gas price was well over 10% lower this time last year:
The Saudi's (for example) have an $75-$85 per barrel MINIMUM cost for extraction, That is the SAME price AT LEAST to cover their national budget (read keep the peasants subdued and bought off).
Oil will NOT drop to $30 a barrel, None of the oil producers can afford it to. Any hint of it will cause a embargo(over a manufactured problem if necessary).
You would sooner see them pump half the amount and double the price first.
How quickly it gets forgotten. Oil has been over $100 for the entire year, missing at most 3 days, since about February (pre Libya).
But no one thinks about it.
You and Trav are in a very small group on here who truly GET IT.
Yes, The financial problem will stop growth because of
the geometric progression of interest(a known end point since it's conception)
HOWEVER, However, PEAK OIL will make No Growth PERMANENT
Bye Bye Global Distribution.
Budget crisis? Really???!!!! Where?
Cash for Junker's? I thought we did that already!
This is very bullish - clear sign that EFSF will be expanded :)
... until EFSF is a CDO2
That goes a long wy to instill confidence.
I didn't know it was a freudian slip.
If there's a coy sexual reference here Italy should take this as a a commitment...oops i mean compliment! a "compliment"!
And as usual, market is conflicted.
Strange thing is they aren't doing that great of a job with Greece, if past performance is an indicator, these guys couldn't organise a cat fight.
The only thing that would save Italy: nationalizing banks
Next move: nationalization of the states.
Squid must be starved.
That's why ECB will keep monetizing the thrash PIIGS-debt. Of course Trichet tries to mask it under "making sure the monetary policy transfer mechanism will work" or some other blatant lie. Next on agenda from ECB is unsterilised monetization of the debts of these banana republics and probably senior unsecured bank bonds. When that happens, Germany will say "nein" and introduce D-mark. After that the upcoming head of ecb, ex-goldmanite italian dude, will probably start buying equities.
The ECB will do no such thing.
Germany has experienced hyper-inflation, unlike so many other countries. It haunts them still. They will not allow more monetization. Nein.
If they must choose between Europe, and price stability, they will choose the latter.
Two germans have already left ECB because of the decisions to buy PIIGS-debt. Today Trichet announced that ECB will buy covered bonds for EUR 40 billion and that ECB will be buying those partly from primary markets. Covered bonds are senior secured bank debt. None of these idiotic moves by ECB to keep the insolvent political dream called euro together have worked. None. So they will do more, it's just a matter of time (which they don't have much left). And at that point my guess is that Germany will save themselves, not the PIIGS.
And btw, 2% annual growth in inflation, what ECB calls "price stability", is not stability. That relation grows exponentially in time and it's quite far from the definition of "stable".
But the German hyperinflation is a part of the historical record, and everyone knows nobody learns from history, and are thus doomed to repeat it.
It'll be just like the movie 'Groundhogs Day'!
don't touch my juncker bitchez!
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