Premature Speculation

Tyler Durden's picture

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JW n FL's picture



Think of a time when Eurpoe turned its back on the Untied States in its push for Energy Security..

fast forward to today.. and what do we have?

pay back.

metastar's picture

Collapse into the NWO bitchez!

Deadpool's picture

when will all this Euro-bable be over and the world focus on the real issue and that's US insolvency? what a joke this 24/7/365 Europe issue is when the numbers are really added up they are NOT the growth drivers of the world. Screw France and italy. It's all about CA, IL, NJ and social security/medicade/military budget. dollar doo-doo.

CIABS's picture

anglo-american media are keeping the focus on the eurozone.

ivars's picture

Here is comparison chart between my feb 6th chart of DJIA and actual prices. After 8 months with mistakes in the middle, its for last 2 months within 0-5% of actual DJIA:


In original chart, the trend continues to go down with increasing speed.

Hiwatt's picture

There's A LOT of ringfencing still to be done to think about a proper Greek default. Such a proposition in the current envirmonment is plainly stupid.

stiler's picture

time is money...

HistorySquared's picture

Iceland did well by letting their banks go bust through losses to private bondholders and shareholders. The same applies to governments. Bankruptcy allows previous promises to be restructured (such as untennable pension deals, government salaries, etc) This is much better than putting it on the back of taxpayers, who are prone to riot if forced to bail aforementioned parties. Unfortunately, printing is easier politically and satisifies short term stability, but sets up the economy for long term catastrophe. Pretty sure polticians make 99% of their decisions based on < 2 year out look. 

bxy's picture

the difference is Iceland has no political capital......the elites go for the big scams.

shazbotz's picture

<2 yr outlook...and how much their secret banks accounts are filled by special interest groups and lobbyists

hambone's picture

Premature E-Speculation???  In these very exciting times and situations, I share that problem.

A Man without Qualities's picture

"I wonder if the plans had been proposed and shot down, and some excitable ministry of finance official tried to get it approved via the back-door by leaking it to the media and hoping it got so much positive momentum that the people who had rejected it out of hand would have to reconsider?"

yes - and my money's on France.  Sarko thinks he can charm Merkel into anything, because he's a narcissist, but Merkel knows she cannot agree to it, whatever the consequences otherwise.  

pantheo's picture

Too generous my friend. Once Greece goes down, Port, Ire, Italy and Spain will follow, plus a couple of huge US banks that placed the trillions of derivatives bets. France will be BBsomething, no EFSF, no ESM. 2008 will be a walk in park. SSE broke a 20 year support, TLT its resistance, DXY is about to cross 79 and a million other signs that the mother of ALL wars is coming. Middle East is a mess, Putin will be another 8 years facelifted on the top along with his fiancee Dimitri...Just take a look around you, even if you are leaving in Beverly Hills. There will be no growth for the next 3 to 4 years at least, because everyone is lying about their entries in the books, from the grocery store, to the smallest Spanish municipality, to the biggest US bank to the biggest Chinese ghost town. It's a paradigm shift, S&P by Nov will be 900 and by the next March at 400. Full stop. Take a big breathe and dive....

narnia's picture

There is no painless way out of the global bankruptcy.  The EUR is fundamentally flawed.  The EU should release the legal tender provision / monetary restrictions, let the currencies go where they need to go, and stay committed to a free trade & travel zone.    

What the EU does not need is more EUR fiat or an even greater and more flawed IMF SDR fiat.  

TradingJoe's picture

More like 850-950 rather then 1000-1150 Pete!

DormRoom's picture

Hedgefunds may start more deleveraging Monday, after Redemptions are called.

THE DORK OF CORK's picture

Given the fact that the Irish banks are not producing credit I do not see why they can't be shut once they can continue to operate their checking accounts - transfer their term deposits over to the post office and give the ECB the mortgage crap - I would like to see those bastards getting their money back in a all cash market.

This country is still running a huge trade surplus ,  a marginal current account surplus - but all the infrastruture is depreciating into the soil so that those bastards can save their miserable hides.

Smithovsky's picture

In the end they will print, absolutely no doubt about that.

Nate H's picture

I think there is CONSIDERABLE doubt about 'printing'.  Printing money as response from central banks to end of growth is a blogosphere meme gone awry. Central banks do not control our money supply -via monetary policy they have done about all that can be done. Money is creating via bank lending. Hard to do that now....Gold may go up but not due to 'printing'...

gmak's picture

Let all the banks fail - make them take their write=offs. Then, take $3 trillion from around the world and set up 30 clean banks with $100 billion in capital each. Allow them to lever 10 - 15 to 1. What sort of economic growth could one get from $30 - $45 trillion in loans priced appropriately to avoid malinvestment, and used to add to productive capacity?  We are all what we produce - no more no less. This is where economic growth comes from. If I bake 10 loaves of bread a day - that is what I have to exchange for food, shelter, clothing etc. You are what you make.

monopoly's picture

Sold core positions. Have nothing but physical gold, silver. This looks way to scary for me. Time for all to buy miners, lol.

Lets see what happens in October.

Long-John-Silver's picture

Apparently pulling the plug on Greece is like pulling the plug on your Mom.

caerus's picture

s&p should downgrade after the bell

YesWeKahn's picture

Tyler, your equilty and credit market analysis has been right on. I've made 100% return since I joined the group, insane!.

monopoly's picture

Just too much event risk to play this game. Even miners collapsing. And they should have excellent earnings this quarter. Margin calls just never seem to stop.

Reform1776's picture


MaximusR's picture

Anyone see that moron Bob - PiSS in my pants Pisani...I can't stand that guy speak...pure market cheer leader....they market can be down 200+ points and the fool is still trying to bring up the positives and some how pass over the real issues.....

gwar5's picture

So true. My favorite worn out phrase by MSNBCers after a big downturn, "time to BUY?!"


gwar5's picture

So true. My favorite worn out phrase by MSNBCers after a big downturn, "time to BUY?!"


gwar5's picture

So true. My favorite worn out phrase by MSNBCers after a big downturn, "time to BUY?!"


gwar5's picture

So true. My favorite worn out phrase by MSNBCers after a big downturn, "time to BUY?!"


Joe Sixpack's picture

Not even original- stolen from gold/silver bugs

gwar5's picture

"Premature speculation is often the result of a cunning linguism." -- Schweddy B. Alls


jal's picture




... the next big move will be if the global economies can resurrect growth...



s2man's picture

Since all trading is done online, now, wouldn't that be better termed, Premature eSpeculation?

NoTTD's picture

Better  headline: "Premature eSpeculation".

slewie the pi-rat's picture


now, with deflation, they will probably adjust:  "GDP shrank 5% y-o-y, but the deflation rate was (-)6.5%, so the economy grew  ...adjusted for deflation..." 

navy62802's picture

If it gets to the point where no Eurozone country is big enough to bail the other Eurozone nations out, the US will step in against the will of its citizens. Hell, the US has already done this to a certain extent. I have no doubt that the Fed will do it again. We could say that the US is actually the most influential member of the Eurozone.

Fedophile's picture

I continue to believe that the best solution for Europe is to allow Greece to default and then protect all the banks and institutions that can be protected.

Why? The banks have known of Greece's problems for years now, if they haven't already taken steps to protect themselves they need to fail, not be protected.

zorba THE GREEK's picture

Whenever I have premature speculation, I fall back on my talent of being a cunning linguist. Keeps the gals happy.