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Monti Goes M.A.D.; Sees "Permanent Risk Of Contagion In Euro-Zone"
We can only assume that the technocrat-in-chief of Italy, Mario Monti, has read the second chapter of 'how to be a European leader' as he switches from Juncker's "When it's bad, you have to lie" mantra to "Maybe the real truth will scare 'em into it" as he pushes the spending of other people's money and a growth agenda (which of course will solve all the insolvency problems). As Bloomberg reports, the blackmail negotiations threats continue:
- *MONTI SAYS THERE IS PERMANENT RISK OF CONTAGION IN EURO ZONE
- *MONTI SAYS SPAIN BEING DEALT WITH PROMPTLY, ADEQUATELY
- *MONTI SAYS EU NEEDS GROWTH POLICIES QUICKLY TO STOP CONTAGION
- *MONTI SAYS MARKETS DEMANDING EUROPEAN GROWTH
Perhaps he just noticed the underperformance of Italian bonds the last day or two and just how this will rapidly spill back into his back-yard.
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it all depends on your defintion of "is"
Well there are known knowns; there are things we know that we know. There are known unknowns; that is to say there are things that, we now know we don't know. But there are also unknown unknowns – there are things we do not know, we don't know.
Greece needs to host another sports event to boost their economy. The Olympics was simply insufficient to stimulate aggregate demand.
London is currently benefitting from huge spending programs centred around the Olympics. In addition the whole of the UK is getting a lift from the spirit and soul of the Olympics, which I predict will filter through to the economy.
Maybe schedule quarterly Olympics, that should do it
I believe simultaneous wars and Olympic Games are a win-win proposition. Keynes, Coubertin and Krugman. Noble Prize Winning.
Great post MDB.
http://www.euronews.com/2012/03/03/athens-a-short-lived-legacy/
On the mark tonight. Sleep well knowing you hit the spot. More like this please.
MONTI: "I WILL GUARANTEE YOU CONTAGION!"
We should have a long ETF on that!
why can't we just choose "growth" as a policy? /sarc
That's what gets me they throw "growth" around like it's a simple choice. No mention of the fact that the pie is getting smaller every day and that the fight for a piece is getting more desperate.
As night follows day contagion will happen not only to Monti but to others as well, Tim Geithner comes to mind as he tries to peddle his paper.... luckily for him he 's only got less than a year to do that....peddling and begging that is....
Italy would be better off handing over control of the economy to the Mafia. The Mafia at least does not have a record of having caused a recession/depression.
+
Will anyone ever do the right thing and tells the banks "no more money, have your bond holders take a loss and move on"
You've been here far too long to be expressing thoughts like that.
Or did I miss the /sarc /rhetorical tags?
no more money, have your bond holders take a loss and move on"
Those words will not be uttered until all of the bonds held by the banks are transferred to the sheep. That is the de-facto marching orders of the CBs at this point.
"no more money, have your bond holders take a loss and move on"
Well someone would just do that, but then it starts again. New set of bond holders and new set of bond issuance and the whole thing starts again. Its not like after all this we're going to hard currency, sensible and sustainable economic model.
look at the spy, that should wipe out every worry, no?
it is so good to laugh, thanks tyler
Tyler and Bruce have hinted that the SNB may unpeg EURCHF or repeg at 1.10 - and possibly do it soon or even very soon (this weekend?). What do you guys see as happening to EURUSD and USDCHF if this happens?
the euro, USD and CHF, all you need for a game of thee bill monti. My guess is they all fall down!
The zombie is out of the woods!
So boys and girls, what have we learned this week?
1. To juice the markets, dont annoucne any actual solutions just announce that you are having teleconferences, i guess stocks such as Polycom who benefit from teleconfrences brign up the market 500 points.
2. Dont actually do QE, just leak information out about QE.
3. Baffle them with bullshit, lie then tell the truth, then lie again.
4. Distract them from the fact that nothing has changed in Europe, asia, or the US since last week yet we have and are still rallying.
It's been that way since Oct '11. If it's still working, why switch tactics?
Not quite, at least in late '11 there were actual programs implemented although we all know they were just kick the can programs. Now we just have imaginary stimulus. I guess imaginary is good enough.
To juice the markets,
But Tylers was saying the traders were listening to Obama's speech etc to get to know where the focus and flow would be and how to trade that.
He did'nt say anything more or how that valuabe information is used by the traders, so thanks for clarifying.
No shit Sherlock.
just gonna whip up some growth. if only they thought about that a few years ago.
are you fucking kidding me.
too funny. I was thinking the same thing.
Just gonna hit that GROWTH button and vroom, baby! That's how politicians think. "Why we'll just poor some sugar in right here...." Don't worry about the after effects. We need growth NOW!!!
It's so easy to grow a company that actually makes or sells shit people need and want to buy.
Italy's been trying to find some growth for ten years. If they can't do it in ten, are they saying the Germans could do it for them in one? They tried the whole "borrow lots of money and spend it" thing but the world keeps saying "Mario, Mario, look you owe all this money!"
"Permanent risk" is a first-order contradiction in terms.
*MONTI THREATENS TO HOLD BREATH UNTIL PASSING OUT
cue: duelingMarios (vying for our mario-nette attention?)
here we have mariopizza resonding to marioECB : yes! we have no bananas!
ya can't make this shit up, BiCheZ!
We need that growth strategy as opposed to the non-growth strategy we've been operating on. This fucking piece of shit Monti thinks he can just magically develop growth. How about you fucking quit spending money on useless bureaucrats in Brussels and quit taxing people to death so they have money to spend you little jackoff worm. Better yet, go fuck yourself
Better yet one of those very large porn-star guys does it for him.
The major weakness in all cartels is that at some point self interest will trump the contract.
Is that a FANGUL black hole ?
http://www.youtube.com/watch?v=eBLctZ4q314
Your pic can also be used for the 'flight to safety' bond market....
Quick! Take your euros out of the banks and stash them under your mattress! That will save you!
Is anyone surprised the contagion has not been contained ? Not me.
Pretty soon they'll have to use the last resort and just nuke all of Europe to stop the spread.
3:30pm EST Friday
Attention Markets:
GREECE IS HOLDING AN ELECTION AT THE END OF NEXT WEEK
Hell-o!!!
http://youtu.be/LnLDMqPBeKQ
Mario Don't Spanic! ;-)
Market ....must ....not...fade.....before.........close......
Monti says "stand on your head"
Two words: screw Monti. The guy's not even elected ffs.
Bullish!
ha ha ha the Oligarchs are panicking.
Its time for the Monti-python to take over.
can we throw pancakes and all sorts of shit at each other, before the Titanic sinks? I want a mad hatters party up to the hilt before I go under! C'mon lets twist again like last summerrrr...when we were still kings!
exactly -
we're going lumber from crisis (addressed with insufficient new acronym) to crisis to crisis ....
the passage of time makes things get worse, not better. the markets are starting to figure that out -
Only in a banker universe does QE equal growth.
Relax Monti, after Spain gets put through the grinder, it's your turn. Maybe the Germans will change the blades, fresh, clean cuts you know...
No shit huh?
I've got my silver, so be as contagious as you want.