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Flowcharting Europe's Sovereign And Bank Debt Problems
Keeping track of all the various verticals of instability in Europe, which is now forced to improvise on a day to day basis with a leaking dam wall of increasingly insurmountable problems, and is torn between plugging holes in the EFSF/ESM mechanism, Bank recapitalization, generating an overarching fiscal union and, last but not least, getting the ECB involved, has become virtually impossible. Which is why we are happy to present the latest updated UBS flowchart summarizing Europe's sovereign and bank problems. Because there are many. We hope this makes it clearer.
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We hope this makes it clearer.
Look's like Rex Ryan's play book for his (losing) effort against the G-men on Sat. :D
Speaking of losing ... here's a 'just missed by that much'.
Have been curious about what was the 2 millionth (!) comment posted on ZeroHedge the other day.
Spotted the 1,999,999th one, but didn't see the 2 millionth one.
Was it wisdom, was it a troll, was it junk, was it gold?
Should be a prize from Tyler for that milestone. A ZH mug or hat, at least!
Here is the next-to-2-millionth one:
http://www.zerohedge.com/news/guest-post-unpaid-spies-financial-system#c...
« Urban Roman Tue, 12/20/2011 - 22:59 | 1999999
What are Greek bonds up to again? 80% or something? »
That is what Urban Roman said, a few seconds away from the 2 million mark ... if he had just waited a moment longer ...
I wonder if I get to be 2,003,333 an equally interesting NUMBer.
If only you had waited a moment longer too B G in B!
Now now, can I pack some wizdum in here.
"It's all one", till it ain't!
;-)
ori
/the-plan/
Keynesian socialist economists formulating policy.
http://i41.tinypic.com/nv2z43.jpg
you missed out the santa hat...merry xmas!
.
.
Yay. Rah. Ooh ahh ahh.
See my lonely life unfold I see it everyday see my lonely mind explode when I've gone insane
I wanna get outta here I wanna get outta here I I've gotta I've gotta get outta here
http://www.youtube.com/watch?v=jVxr63WaRrs
My wife shows me that same chart anytime she argues with me. She just banks on me not really loking at it which just happened again.
Here is the Readers Digest version: Peter stole to pay Paul. Paul took that money to pay Joseph off for a bad bet on the camel races.
There. Simple.
I'm just covering the the fact that I really dont understand it all. It's a defense mechanism...sorry.
And the guy that Peter stole from? - nobody gives a shit about him.
Clear as a 'bell'. :-( / ;-)
The 'devil' is in the details.
Thank you ZH, this helps immensely.
For those of you still having trouble -
all of the EuroZone's problems boil down to three (3) key elements:
LOL!
I was thinking it's like the classic version of the Game of Life where someone gets a $200K bill, has $10K, and pulls out a Share the Wealth card to split it with the other players who have a sum total of $50K. Ginormous staring contest.
Excellent analysis Schmuck, but just one minor correction:
3. They have NO hope
4. Their charts suck
Brings to mind a quote from a Serb friend of mine:
"In America, they have Steve Jobs, Johnny Cash and Bob Hope. In Serbia we have no jobs, no cash and no hope."
Shit flows downhill/chartology 101
At some point there is No More Hill.
clearly confusing as hell....in brief --> "What?"
and those 1000 blns again...oy, probably doesn't matter as mostly taking place in an imaginary future time based on unrealistic assumptions so what's to worry?
--is there a TIME LORD available to straighten it out? one can only be astounded at the incisive efficacy of the EuroRuleOcrats abilities to solve unsolveable problems. I am truly humbled.
perhaps if they renamed it the "iEuro" everything would work out.
Thousand billions must have polled as a lower number than trillions in focus groups. Either that or trillions is not yet a word in the EuroLexicon.
Personally I think million-millions is the way to go. To most people it sounds like only 2 million. Trillions sound interstellar and either causes eyes to glaze over with incomprehension or alternatively, abject horror.
They only need a thousand-million-million to solve this?
No problem.
No no no... A thousand million million is being reserved to quantify the world ending Quadrillion dollar derivatives market and leave most people thinking it's only 2,001,000.
I blame the Brits myself...its a tacit admission that they cannot comprehend any number over 1,000. Do like your take on it.
A high level summary with everything graphically organized with all problems presented clearly except for details regarding Greece, Belgium, Hungary, Austria, Portugal, the United Kingdom, and Ireland.
Looks to me like representatives for Marx and Keynes having a powerpoint presentation at the end of which they morph into Krugman?
http://finance.yahoo.com/news/Fed-Easy-Money-Policies-wscheats-1879352148.html?x=0
this leaves me speechless
I would like to throw a qe3 reference just to agitate you but I read that and it left me speechles too.
What would they do if they actually had to run or build a viable small business? Living the dream on fairy dust!!
I agree, speechless.
Fed sprinkles happy dust on the economy
this is how economics works...an economist takes credit for what likely would have happened anyway without any action whatsoever.
Eventually an economy turns around and the numb nuts who did the QE last takes credit for that turn around
--they don't take credit for any the bad consequences of their actions though if on occassion their is a consequence more than accidental
that follows from economists 'policies.'
Merrily economists and Bernankes get well paid obscuring the fact they are utterly useless
except to their political bosses as an important disinformation tool --quite unconsciously so--
because after all they have PhDs in ignorance, lies and self delusion.
The most wonderful part of that speechless rendering article is
“When the Fed sprinkles happy dust on the economy, we always respond,” said Allen Sinai, co-founder and chief global economist and strategist at Decision Economics in New York. “The happy dust has been out there a long, long time, and I think it finally may be settling in some places.”
'Happy dust' yah, I want that guy making economic decisions for me. Breaking - Fed Renames 'Chairman' rank 'HEAD HAPPY DUST FAERY'
Allen Sinai is so full of shit. These people have no clue.
I also love listening to Bloomberg News for entertainment ..certainly not enlightenment The talkin tits like Kathleen Hayes, et al... just can't seem to figure anything out. They actually believe the Fed and the ECB's money printing is going to save the day!
That looks remarkably similar to AIG's strategic plan.
Buy back shares at 50. Buy back shares at 40. At 30 scream that it is cheap but have no money left. At 20 scream bloody murder. At 10 say world dies if you do. Restrike your options and give yourself multi year guarantees paid up front.
hilarious!
Like the Fed and US .gov, the ECB and EU refuse to pay the cost of a burst mega bubble. They think they're being smart having "learned the lesson" of the Great Depression. They didn't learn a thing. The price being paid in preventing creative destruction with bankruptcies, defaults, reorganizations and haircuts is living in a zombie economy where failed business models succeed choking out competition, new ideas and new entrants. The next price to be paid is Biflation as reflation is the only option to save the paper economy (shadow banking, derivatives and bad debt) which serves to undercut the real economy which is deflating. The third price to pay is in pushing the limit of autocratic central control of the economy very close to the line. But increasingly it will be required as incomes and prices mismatch, capital flees, and social unrest proliferates.
Oh.. ZH ... ze German NZZ is watching! Goebbels was just informed in mid sleep. You have no idea who you are dealing with!
Ze Noose mussst bi gut, ja! Javooooool!
+1000 - Ja, must keep ze sheeple happy.
You forgot the part where Obama suspends habeas corpus and Eric Holder begins opening "re-education" camps.
That chart makes my hair hurt.
It's all bullshit anyway. The printing presses are rolling on as I'm buying more gold and "stuff" :)
beware of charts the arrows point in all directions...
Nobody sneeze.
Thanks for the Attempt .. Ill have to scrutinize it ....
BUT ..GENTLEMEN ... 1 THING BAFFLES ME , and that is : HOW can it be that INTELLIGENT people totally abstract from FACTS when it comes to geopolitical assesments ( where they themselves somehow are counterparty ) . In an evaluation of personal Budgets the main Yard-stick is : Do I spend MORE than I make . It is fairly easy ... and most of us do know where we stand. It isnt so much more difficult with an evaluation of National Budgets . The question is : does a Nation earn more than it spends ? Its as simple as that . If so ..or if not so .. and the consequences of either outcome can be OBSCURED by a long row of financial Smoke-screens ....BUT .. in the end .. thats the way to judge a Nation...or an area.. in this globally interconnected world .. because that will be the difference on the question : is there MONEY ..or is there NOTHING .
Now ..if we look at the EURO Area .. this entity has had positive Trading Balance and Currency Balance in a cumulative sense in the time of its existence . It even ..in spite of postulated "Capital Flight to Safety" still has a positive Current ( and Trading ) Account Balance as we speak ( so this "Flight " cant be THAT disasterous ! ) The LOGICAL CONCLUSION of above FACTS can only be ONE : THE MONEY IS THERE .. even if this capital may be distributed unevenly . This POSITIVE CASH FLOW has been achieved in spite of step rises of its currency the Euro , during the last 10 years .
Let us then look at The USA and the UK . Exactely the opposite of the European Area regarding REAL WEALTH CREATION ,,, is a FACT , Both nations have for as long as I have been able to read ( long time ) allowed thermselves to run HUGE TRADING and CURRENT ACCOUNT IMBALANCES . The missing funds were financed by LOANS from the external world. Even more ominous ..in spite of substantial devaluations of respective currencies .. these nations have NOT succeeded in becoming COMPETITIVE on Global Markets .
And what is stated above ... are FACTS !
Now ... clever boys ... WHO .. is in a better position ?
And isnt it a bit IRONIC .. that these EXTERNALLY GROSSLY INDEBTED COUNTRIES have lounged a major .. ill hidden ATTACK on the area which .. basically has been quite successfull .. bringing to market all sorts of "ADVICE " ... welll it isnt in fact Ironic..it is AN INSULT !
THe U.S. is in a better position. You bought our crap and then made some more of your own. Smart.
Dream on United States of Europe Dream on...
-by the way what's a "Currency Balance"?
In this context i would like to make available a LINK to EXPLAIN the situation .
http://www.comw.org/pda/fulltext/9709brzezinski.html
It is an Article in "Foreign Affairs " by Leonid Brezhinsky published in 1997 . which for me was an EYE opener ..in regards to the REAL INTENTIONS of the USA . The Policies described in this Article have been the mainstay of US Foreign Policy since that time. One cannot read a much more CYNICAL and MACHIAVELLIAN essay !
And I was astonished .. that it was published ... at all .
You can find the explanation for preeceeding and current US Political and Economical Actions ....in this Article in combination with the FAILINGS of the Anglosaxon Area to achieve economical self dependence ..by their own labour and efforts .
I'm sorry. Did someone just attempt to draw a flow chart using a spreadsheet?
Yes. Don't hate, appreciate.
Using logic to sort on an illogical series of actions may not be the best mental tool either.
Adding the ECB operations would round the picture, IMO. Going deeper into the hole.