• Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.
  • Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.

Horkel Divide Growing

Tyler Durden's picture




 

France's 'happy' Hollande is out, apres-dejeuner, opining on what occurred today and where he stands. The critical items appear to be the growing divide between his immediate need for 'debt stability' measures versus his disagreement over the assumptive 'fiscal pact' that Merkel will require before any money leaves that nation's shores in its transfer-of-wealth way. Headlines via Bloomberg:

  • HOLLANDE WITHHOLDS ENDORSEMENT OF EU FISCAL PACT
  • HOLLANDE SAYS MUST FIND ALTERNATIVE TO ECB IN CUTTING YIELDS
  • DEBT STABILITY MEASURES NEED TO COME FIRST, HOLLANDE SAYS
  • HOLLANDE SAYS GROWTH MEASURES `AREN'T ENOUGH'

but its just not fair... sacre bleu...

  • HOLLANDE SAYS ITALY-SPAIN YIELDS TOO HIGH, GIVEN THEIR EFFORT
  • BAILOUT FUNDS SHOULD BE USED FOR ITALY-SPAIN, HOLLANDE SAYS

and the piece-de-resistance:

  • EUROPE SHOULD HAVE MORE THAN MARKET ECONOMY, HOLLANDE SAYS
  • WE WILL RENEGOTIATE COUNTRY SPECIFIC RECOMMENDATIONS AND WILL ONLY IMPLEMENT WHAT WE AGREE WITH

When we said that the Spanish bailout inspired Syriza to push on with renegotiating all the Greek pacts, little did we know that Syriza itself would inspire all of Europe to gang up on Merkel. Problem is: Syriza failed as Germany sadly still has all the leverage aka money. The other beggars will be no more successful.

The market's response to this less-than-total-print-fest Summit resolution: ES -8 pts from late-day highs... given back well more than half the 'fat-finger' fiasco...

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Thu, 06/28/2012 - 19:34 | 2571549 Bill D. Cat
Bill D. Cat's picture

Give Merkel a really solid baseball bat , rename her Fat Tony , this is settled before the markets ( hahahahahahahahahaha ) open tomorrow .

Thu, 06/28/2012 - 19:58 | 2571628 lewy14
lewy14's picture

France has nuclear weapons. Germany has... ?!

Thu, 06/28/2012 - 20:01 | 2571645 mjk0259
mjk0259's picture

An economy that can produce goods people want besides perfume, fashion, cheese and wine.

Thu, 06/28/2012 - 20:12 | 2571668 Kayman
Kayman's picture

Cheese and whine.  Fixed it fer ya.

Thu, 06/28/2012 - 20:13 | 2571669 lewy14
lewy14's picture

That should count for something, IMHO. But my opinion counts for nothing.

What it does count - is uncertain.

So far the return to Germany's disproportionate productivity is blame - as in "Germany has benefited most from the Euro" - as justification for why they should pay up, guilty as they are of "merchantilism" and whatnot.

I'm not trying to articulate what should be. The root comment above described one outcome of the application of force and violence to the situation. I'm just trying to establish some context.

Thu, 06/28/2012 - 20:32 | 2571716 Michael
Michael's picture

What the hell does he mean by;

EUROPE SHOULD HAVE MORE THAN MARKET ECONOMY

What does that even mean?

Thu, 06/28/2012 - 20:38 | 2571731 Michael
Michael's picture

Vote Ron Paul in 2016, Obama in 2012 to keep Mitt out

http://www.dailypaul.com/241871/vote-ron-paul-in-2016-obama-in-2012-to-keep-mitt-out

Thu, 06/28/2012 - 20:49 | 2571761 lasvegaspersona
lasvegaspersona's picture

Michael

Ron willl be what? 77? in 2016. I doubt your plan could work.

Thu, 06/28/2012 - 21:34 | 2571915 azzhatter
azzhatter's picture

He's 77 now, he'll be in his 80's. I'd vote for him in his 90's over the current choices

Thu, 06/28/2012 - 21:46 | 2571945 Overfed
Overfed's picture

The fuckin' morons that populate this country had their chance to have Ron Paul as President.They deserve Robomney.

Thu, 06/28/2012 - 20:46 | 2571747 knukles
knukles's picture

More than market.
In addition to market
An extension of market
Past market
Like outside the confine of market
Like non market
Like gubamint market
Like gubamint aided
Gubamint helped along by the amazing technocrats
Like ensured that the market is of benefit to all, helped along and molded by the Amazing Technocrats
Like a second parallel Amazing Technocrat designed alternative to the market
Funded by that suspicious market, for the benefit of the People who we, The Amazing Technocrats care for.
The Amazing Technocrat Economy, funded by the evil fucking speculators in the market economy
That we're gonna wipe off the face of the earth
And once we do, everybody will see just how Fucking Great We The Amazing Technocrats Are with our Amazing technocrat Market
And we'll call it United Europe, United Under the New World Order
The European Union Part II all over again!
Where everything is fair and liberal.
Socialista via socialism
Vive Brussels and the Technocrats
Long Live Europe

Now, give me your fucking money.

Thu, 06/28/2012 - 22:20 | 2572028 Newsboy
Newsboy's picture

@ Michael

Europe already does have "more" than market economy, with lots of societal and financial socialism and fascism, so that makes this statement more sinister, suggesting he actually means "other" than market economy.

Fri, 06/29/2012 - 04:54 | 2572522 Karl von Bahnhof
Karl von Bahnhof's picture

Horkel is fine, but Merde is better!

Thu, 06/28/2012 - 21:05 | 2571814 brooklynlou
brooklynlou's picture

Ovens. And they know how to use them.

Thu, 06/28/2012 - 22:27 | 2572053 indygo55
indygo55's picture

9 9 9

Geeze, where's Herman Cain when you need him?

Thu, 06/28/2012 - 22:26 | 2572051 Buck Johnson
Buck Johnson's picture

Germany may come out and say Nein to everything and possibly one up the chicken play by saying if we continue down this path Germany may decided to leave the EU (they won't say currency but it will be implied).  And the ball will be in Spain and Italy and France's (US also) court.

Thu, 06/28/2012 - 19:35 | 2571552 BORT
BORT's picture

What does it mean;  comment voulez-vous dire:  More than market??

Thu, 06/28/2012 - 19:47 | 2571590 northman
northman's picture

nous pouvons dire....plus que marché ?

 

Makes a good slogan: Francois 'plus que marché' Hollande.

Thu, 06/28/2012 - 19:35 | 2571554 midgetrannyporn
midgetrannyporn's picture

He's right. Rising bond yields make it impossible for them to service their debt. They should default already.

Thu, 06/28/2012 - 19:47 | 2571598 Peter Pan
Peter Pan's picture

Don't worry. None of these politicians wants the show to come to an abrupt ending. They will compromise by allowing an initial amount of Eurobonds to be issued as a down payment on some progress being made for fiscal unity and all that other motherhood crap.

Thu, 06/28/2012 - 19:55 | 2571620 TonyCoitus
TonyCoitus's picture

I believe in Merkel's
Where're you from,
you sexy thing, you
sexy thang you
I believe in Merkel's
since u came along,
you sexy thing

Thu, 06/28/2012 - 19:36 | 2571557 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Anyone else getting dizzy?

Thu, 06/28/2012 - 19:47 | 2571596 chump666
chump666's picture

lol

Thu, 06/28/2012 - 20:16 | 2571676 XitSam
XitSam's picture

Remember the good old days when Europe talked of EFSF, EFSF 2.0, EFSF 3.0, fiscal union and Eurobonds? Why it seems like only yesterday ...

Thu, 06/28/2012 - 20:12 | 2571667 Ineverslice
Ineverslice's picture

 Horkel-Smackdown 

Round-1....Let's get it on!

 

Thu, 06/28/2012 - 19:36 | 2571559 chump666
chump666's picture

Hollande is mad.  Much like 99% of the European leaders.

Thu, 06/28/2012 - 20:02 | 2571647 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

EUROPE SHOULD HAVE MORE THAN MARKET ECONOMY

 

And what would that be?

Thu, 06/28/2012 - 20:34 | 2571722 walküre
walküre's picture

Glad you asked.

Want some more central planning and communism with those Long LOST Freedom Fries?

Thu, 06/28/2012 - 19:35 | 2571560 American34
American34's picture

Hollande apparently thinks Europe needs a Command Socialist Market economy.

Thu, 06/28/2012 - 19:44 | 2571582 dwdollar
dwdollar's picture

They don't already have one?

Thu, 06/28/2012 - 20:47 | 2571749 Bunga Bunga
Bunga Bunga's picture

They have, but still need to find somebody to pay for.

Thu, 06/28/2012 - 20:50 | 2571763 knukles
knukles's picture

Not enough.

And dipshits like him think that's the reason for the problem.

Not enuf central planning

God help us all.
Where's Barry Goldwater when we need him?
Or Tiny Tim?
Or Jeffery Dhalmer?

Jesus.
We are soooooooooooooooooooooooooo fucked.

Thu, 06/28/2012 - 21:08 | 2571825 brooklynlou
brooklynlou's picture

Big Brother Surrender Monkey says: "You will wear that brand of perfume and like it!"

The French make a tasty sandwich and they don't smell like shit. Other than that what do they do?

Thu, 06/28/2012 - 19:36 | 2571561 Conrad Murray
Conrad Murray's picture

The yields are too damn high!

Thu, 06/28/2012 - 19:39 | 2571572 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

So are all of the politicians.

Thu, 06/28/2012 - 20:39 | 2571732 Michael
Michael's picture

So is thr rent.

Thu, 06/28/2012 - 19:36 | 2571562 vintageyz
vintageyz's picture

Sarkozy must have left some good weed at the presidents residence

Thu, 06/28/2012 - 19:48 | 2571599 tiger
tiger's picture

He must be eating his speech as a dessert about "nothing absolutely nothing will refrain us from setting the nwo"

Thu, 06/28/2012 - 19:52 | 2571615 potlatch
potlatch's picture

if you enjoy zombification weed, yes.

Thu, 06/28/2012 - 19:41 | 2571579 strannick
strannick's picture

HOLLANDE SAYS ITALY-SPAIN YIELDS TOO HIGH, GIVEN THEIR EFFORT.

Bond Vigillantes dont give points (take points) for effort? No blue ribbons to everyone for trying? Incroyable....

Thu, 06/28/2012 - 22:07 | 2571976 lewy14
lewy14's picture

The yield is Too. Damn. High.

[Rings a bell... where've I heard that before... ?!]

Thu, 06/28/2012 - 22:39 | 2572079 Ropingdown
Ropingdown's picture

Yep, miss a payment on Visa and you'll pay 24%....but 6.8% is called by the FT "extortionate"?  Think we have to keep paying attention to this whole Europe kerfluffle.  24% lending used to land banks in jail in the US.  9% would often do it.  There was a good reason. 

Thu, 06/28/2012 - 19:44 | 2571585 zippy_uk
zippy_uk's picture

...But Angela - how ever much you tell me you have all the money - and I believe you, I have the votes  - believe me.

I have told all of France I am a socialist - they expect me to spend someone else's money as does the rest of Europe,

so as you are the only one with money I think you understand where I am coming from.

-Francios

Thu, 06/28/2012 - 20:14 | 2571673 Rogier
Rogier's picture

'Bien sur Francois, I know where you're coming from. Now lick my German boots.'

- Angela

Thu, 06/28/2012 - 20:28 | 2571702 zippy_uk
zippy_uk's picture

How many NUKEs you got Angie ? The may be French made, but they are ours

Thu, 06/28/2012 - 19:47 | 2571594 XtraBullish
XtraBullish's picture

Tyler - "Fat Finger" = "Working Group on Capital Markets" = "Plunge Protection Team" and (as ZH has NAILED) all residing at 33 Liberty.

 

Great work, Tyler.

Thu, 06/28/2012 - 19:50 | 2571608 insanelysane
insanelysane's picture

Typical liberal socialists, give us the money first and we promise, that in a few years, we will cut back.

Thu, 06/28/2012 - 19:55 | 2571622 potlatch
potlatch's picture

If I can contribute a small suggestion: this is the *general* point.  No one wants a real market.  Socialists want unfundable services and goods first, then for the market to figure out how to afford it.  Financial institutions want the leeway to "keep up" with speculative activities that totter over the real economy, and wants the government to figure out how to manage *that*.

 

Everyone is trying to get something, and have the system adjust to give it to them.

 

But that is not how reality works best.  Plans adjust to reality is best; trying to make reality adjust to plans creates the multi-train wreck we are in today, in which no one's hands a reclean.  Transcende the left-right dichotomoy, grashopper: the problem is endemic, not partisan.

Thu, 06/28/2012 - 19:51 | 2571613 JustObserving
JustObserving's picture

"EUROPE SHOULD HAVE MORE THAN MARKET ECONOMY, HOLLANDE SAYS"

Yes they need market intervention and control like the USA.  Of course, it must be done without officially admitting it.  They should invite Bernanke to Europe.  


Thu, 06/28/2012 - 20:53 | 2571773 knukles
knukles's picture

 

Where'd Roberts go on his last vacation?

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