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Rumor Meet News: S&P To Put All 17 Euro Nations On Downgrade Watch

Tyler Durden's picture





 

Just as we noted earlier from the leak to the FT, Bloomberg is now reporting further that

S&P Said to Place All 17 Euro Nations on Rating Downgrade Watch

The AAA aspect is probably the most critical still and the differentiation between Austria and France and the rest of the AAA European sovereigns has been plain to see for a while but the major direct impact of this move will be on EFSF bonds (and the entire support structure) which managed to rally back from just over 200bps to 148bps close today.

EFSF spread to Bunds remains 35bps higher than immediately post the EU Summit.

Charts: Bloomberg

 


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Mon, 12/05/2011 - 16:10 | Link to Comment greased up deaf guy
greased up deaf guy's picture

nobody could have seen this coming.  i'm shocked.  SHOCKED.  lol

Mon, 12/05/2011 - 16:10 | Link to Comment Pladizow
Pladizow's picture

Sha na na na na......

Mon, 12/05/2011 - 16:19 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Aaannnd, third leg down underway, look for the move to go under even for the day, slight dead bounce to finish even at the close.  Your Algo Market at work, ladies and gentlemen.

Mon, 12/05/2011 - 16:20 | Link to Comment CClarity
CClarity's picture

And gold is down why?  Liquidating to cover what?

Mon, 12/05/2011 - 16:22 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Central Banks leased gold to free up their asset sheets, then they leverage the cash 10 to 1 to create liquidity. 

Leasing gold quells demand, dropping the price.

Mon, 12/05/2011 - 16:23 | Link to Comment Chris Jusset
Chris Jusset's picture

KABOOM!

Mon, 12/05/2011 - 16:24 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Today was the easiest trading day of the year.  Drinks on me.

Mon, 12/05/2011 - 16:27 | Link to Comment CClarity
CClarity's picture

Thank you and congrats!

Mon, 12/05/2011 - 16:38 | Link to Comment distopiandreamboy
distopiandreamboy's picture

It seems at least 2 people are recovering alcoholics.

Mon, 12/05/2011 - 16:41 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Just like love, once is forever

Mon, 12/05/2011 - 16:51 | Link to Comment WonderDawg
WonderDawg's picture

More than two in here. I'll have nice cup of Columbian java and strike a match.

Mon, 12/05/2011 - 17:02 | Link to Comment JohnG
JohnG's picture

Why "recover??"

Mon, 12/05/2011 - 17:45 | Link to Comment youngman
youngman's picture

Rehab is for quitters...

Mon, 12/05/2011 - 17:52 | Link to Comment WonderDawg
WonderDawg's picture

If your choices are recover or die, which mine were, recovery seems like a good choice.

Mon, 12/05/2011 - 18:36 | Link to Comment knukles
knukles's picture

...sometimes quickly, sometimes slowly, but they always materialize if we work for them...

Mon, 12/05/2011 - 22:56 | Link to Comment WonderDawg
WonderDawg's picture

Amen, brother.

Mon, 12/05/2011 - 21:25 | Link to Comment Hulk
Hulk's picture

Welcome back!

Mon, 12/05/2011 - 22:58 | Link to Comment WonderDawg
WonderDawg's picture

Thanks, Hulk. It's been a while now, but the memories are still fresh. A clear mind is going to come in handy in the days ahead.

Mon, 12/05/2011 - 16:47 | Link to Comment billhilly
billhilly's picture

Glad for you !

My fresh shorts, MS and FMCN are trading near their highs, shit !  WTF. All red today for me.

Speaking of which, my ex-wife's maiden name was Allred.  Ah, ghosts of losing trades' past.  Such is life.

Mon, 12/05/2011 - 16:50 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

So the part of the trade that I outlined that doesn't work is shorting financials because they are the one's shorting gold on the way down.  They know the trade too. 

But they will get crushed from here on down to Dow 11,500 so I would load up here if I were you.

Mon, 12/05/2011 - 16:39 | Link to Comment Nothing To See Here
Nothing To See Here's picture

@Hendrix, perhaps I'm slow today but I fail to see any rationale for BORROWING gold... seems like kind of a paradox....

Mon, 12/05/2011 - 16:45 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The Fed has 14k tonnes on their books on loan from the Treasurie (8k tonnes of which is being held as custodian of Germany).  The Fed is allowed to do what they want with this digital gold (the gold which is suppossedly held in Knox and other US Military forts). 

Back in the '60's, to quell the rising demand of gold, the US sold it outright on the open market.  They did this in cordination with the IMF and Britain.  By the early '70's they realized that they were selling all of their gold.  So they closed the gold window, and stopped selling it.  But this had an impact on price; as demand shot up, price followed.  So then they began to lease gold.

They told countries such as China, "Hey, if you buy our paper, we will lease you gold."  China thought, "Well, that will hedge our paper positions, so we will go along with it."  So now when the Treasurie calls China and asks for them to buy paper, China calls the Fed and asks how much gold they can lease to hedge for inflation of paper assets.

Mon, 12/05/2011 - 18:33 | Link to Comment LooseLee
LooseLee's picture

But the Fed cannot prove that this Gold exists and resists any congressional mandate to audit...Would you resist any madate to prove you actually had sex with any babe?

Mon, 12/05/2011 - 16:25 | Link to Comment tbone654
tbone654's picture

convert to cash... stuff your matress...  remember M/F Global...  cash is king...

Mon, 12/05/2011 - 16:30 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Paper burns and your house is on fire.

Mon, 12/05/2011 - 17:06 | Link to Comment Long-John-Silver
Long-John-Silver's picture

Fiat Paper contains 12.44 BTU so it's never worth nothing until you convert them to heat.

Mon, 12/05/2011 - 18:30 | Link to Comment LooseLee
LooseLee's picture

Gold is down because fools have to cover losing paper investments.

Mon, 12/05/2011 - 19:26 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Gold was down before equitie was

Mon, 12/05/2011 - 16:44 | Link to Comment Max Fischer
Max Fischer's picture

 

 

If silver can't catch a bid even after all 17 Euro nations get threatened with a downgrade and with the viability of the euro front and center, then it's probably time to get out. 

Silver was the BIGGEST joke of 2011.  There's only ONE person who made money on silver this year: Eric Sprott, and that's only because he spent a good portion of the year pumping his funds with hyperbolic nonsense, and then dumping millions of his shares into the subsequent hysteria. 

Plus, remember Buy physical, crash JP Morgue? ....what a joke!  Silver is doing EXACTLY what it did the last time it went parabolic in the late 70's and early 80's:  it's slowly grinding back to reality.

Max Fischer, Civis Mundi

Mon, 12/05/2011 - 16:48 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I made money, and JPM is down 16% year to date. 

WinningDuh!

Mon, 12/05/2011 - 16:47 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

You've convinced me, I just sold and bought Bernanke bux. Thanks.

Mon, 12/05/2011 - 16:50 | Link to Comment taraxias
taraxias's picture

I had you on downgrade watch but your downgrade to fucknut is imminent if you keep posting rubbish like this. Just a heads up.

Mon, 12/05/2011 - 16:51 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Egan-Jones has him at junk

Mon, 12/05/2011 - 19:47 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

Ratings from taraxias and Egan-Jones have proven far more reliable than those from S&P, Fitch, and Moody's.

 

Mon, 12/05/2011 - 16:59 | Link to Comment Jonas Parker
Jonas Parker's picture

Sorry Max. I made out pretty good on silver this year. Better luck next time...

Mon, 12/05/2011 - 17:11 | Link to Comment Max Fischer
Max Fischer's picture

 

 

Well, silver began the year at ~$30.  Currently, it's under $32.  If you consider the huge, ripoff margins between wholesale and retail, you're definitely underwater.

Or, you could have been trading paper silver, which is the EXACT OPPOSITE of what the doomer lemmings say to do. And you certainly weren't following the advice of Turd Ferguson.  He totally missed the summer run (in fact, he advised to stay out of it), and failed to predict both the collapses in April and September.  You would have had better luck with a dart board.    

You should have just done your patriotic duty and bought a 30Y bond.  No risk.  No volatility.  No need to dig holes in the woods, and its got a 40 year trend of insatiable demand and proven safety.

Max Fischer, Civis Mundi

Tue, 12/06/2011 - 02:52 | Link to Comment jeff montanye
jeff montanye's picture

thirty year bull trend: 1981 to 2011 (really the bottom yield/top price of december 2008 still holds at 2.53% on the thirty year).   the prior ten years, 1971 to 1981 were the last decade in a thirty year bear market taking yields from around current levels to 16% in the fall of '81, comprising the worst price declines, not to mention losses from inflation, in the history of the u.s. treasury market.  

however your greater mistake is the wildly wrong claim of no risk, no volatility.  the full coupon thirty year treasury, and even more its zero coupon relations, are highly volatile investments with price changes of twenty or thirty percent in a few weeks or months commonplace:  http://futures.tradingcharts.com/historical/TR/2011/0/continuous.html

Mon, 12/05/2011 - 17:02 | Link to Comment antidisestablis...
antidisestablishmentarianismishness's picture

"Plus, remember Buy physical, crash JP Morgue? ....what a joke!"

Yeah, whoever came up with that concept was a genius.  He could make a killing as a lemming bait salesman.

Mon, 12/05/2011 - 18:12 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I've never baited a lemming because lemmings don't know what real monie looks like.

Mon, 12/05/2011 - 17:05 | Link to Comment JohnG
JohnG's picture

Then explain my 102% gain from November '10to April '11?

Fuckwad.

Mon, 12/05/2011 - 17:23 | Link to Comment Max Fischer
Max Fischer's picture

 

 

Who cares.  It collapsed into a pile of burning rubble afterwards.

For the year, it's only up a buck or two.

You should have bought teen retailers.

Max Fischer, Civis Mundi

Mon, 12/05/2011 - 17:06 | Link to Comment tmosley
tmosley's picture

Yeah, and short Bernie Madoff was the BIGGEST joke of 2008.

Also note that I, and everyone else who owned silver a year ago, is up 8% in Bernanke Bux.  Gold did better, returning 21%.  But the current price only matters if you are buying or selling.  As the thesis of most silverbugs is to hold silver through a dollar collapse, they aren't selling now, and the low prices only enable them to buy more metal.

And I guess you missed the part where JPMorgan is down 17% in the same time period.

Tue, 12/06/2011 - 03:02 | Link to Comment jeff montanye
jeff montanye's picture

one might also refer to http://www.gold-speculator.com/editors-picks/5010-600-year-chart-silver.... for broad historical purposes or http://www.oilngold.com/analysis/research/gold-a-gold-stocks-during-peri... for a comparison of the price action of (gold) miners during the last deflationary depression (with a far less inflationary set of global central bankers).   

Mon, 12/05/2011 - 17:28 | Link to Comment Ku
Ku's picture


Silver is doing EXACTLY what it did the last time it went parabolic in the late 70's and early 80's:

So you think the tops in for silver for the next decade or so? is that what u mean. HAHAHAHAHAHAHAHAHAH

today was thinking 32.20 to buy silver, riskd dwn and went for SLW calls instead

Mon, 12/05/2011 - 17:24 | Link to Comment ZeroPower
ZeroPower's picture

Youre right for the most part. Ive been advocating strongly against any new positions in silver since last April when it was clear it was heading parabolic and into a crash. What i cant comprehend is why people expect another new parabolic rise out of silver so short after the last when. Forget the ones that can't read a chart, just consider:

  • The only people bullish on silver are PMs who have silver to sell you
  • If you want an inflation hedge, you buy gold
  • The chart
  • Silver supplies: while there are many 'pros' out there who say supplies are on the decline, i can find just as many charts or statistics that speak of stale silver inventories. Why invest in something with so much noise

 

 

Mon, 12/05/2011 - 18:35 | Link to Comment LooseLee
LooseLee's picture

OK, so short the SLV (while maintaing a sufficient portion of physical in your possession)...

Mon, 12/05/2011 - 18:39 | Link to Comment knukles
knukles's picture

...or make that into a nice paired trade with a PSLV long.
Delivery bitchez...

Mon, 12/05/2011 - 16:16 | Link to Comment Hansel
Hansel's picture

SHOCKED!

Mon, 12/05/2011 - 16:25 | Link to Comment The Big Ching-aso
The Big Ching-aso's picture

 

S&P needs to pull its collective ass out of its head (sic).  Why don't they just downgrade the entire world instead of this penny-ante country by country bullshit.  Where were these nimrods before all this global-wide derivative inspired crap hit?    

Nothing like being armchair quarterbacks after the fucking game is already over. 

Mon, 12/05/2011 - 16:27 | Link to Comment HedgeAccordingly
HedgeAccordingly's picture

Look at this CHURN for stops before the S&P headline hit.. - shady - https://bitly.com/rrplmK

Mon, 12/05/2011 - 16:18 | Link to Comment BorisTheBlade
BorisTheBlade's picture

17 nations on the downgrade list? so fucking what? reality is an illusion caused by the lack of liquidity in the system. ben shalom, pour us another tranche of QE, we're getting thursty.

Mon, 12/05/2011 - 16:22 | Link to Comment oogs66
oogs66's picture

Isn't that an upgrade for about half of them?

Mon, 12/05/2011 - 16:50 | Link to Comment BorisTheBlade
BorisTheBlade's picture

it can't be the exact half, since it's not an even number, so it's 'about' meaning 8 or 9. if you are an optimist, you'd say for 8, pessimist - 9, realist - doesn't matter, probably all of them.

Tue, 12/06/2011 - 03:06 | Link to Comment jeff montanye
jeff montanye's picture

not, not, not lack of liquidity.  insolvency.  http://www.hussmanfunds.com/wmc/wmc111205.htm

Mon, 12/05/2011 - 16:23 | Link to Comment tbone654
tbone654's picture

December 17 ...  prelude

Mon, 12/05/2011 - 16:30 | Link to Comment vast-dom
vast-dom's picture

yeah i called this in my earlier today post = entire eurozone = bullish¿¿¿¿¿¿¿¿¿¿¿¿¿¿¿¿¿it!!!!!!!!!!

Mon, 12/05/2011 - 16:49 | Link to Comment Chupacabra-322
Chupacabra-322's picture

Still don't belive we're not living in a modern day Scientific Techoncrat Fascist Dictatorship spend five minuites watching this. 

UNITED STATES is a Corporation - There are Two Constitutions - Sovereignty

http://www.youtube.com/watch?v=lVsMUpPgdT0

Mon, 12/05/2011 - 17:07 | Link to Comment Spooky Polish
Spooky Polish's picture

nobody expects a spanish inquisition ! 

 

http://www.youtube.com/watch?v=Tym0MObFpTI

Mon, 12/05/2011 - 16:09 | Link to Comment Vincent Vega
Vincent Vega's picture

Expecting 5 but got 17. How many standard deviations is that?

Mon, 12/05/2011 - 16:10 | Link to Comment baby_BLYTHE
baby_BLYTHE's picture

Any job in a privately owned currency system is equivalent to Slavery. We must Finish the Job started by JFK to End the Federal Express..... I mean Federal Reserve System..... Until then, I say take your Just Over Broke (JOB) and shove it you know where. For those who still believe in Voting, Ron Paul is the Only choice. Good Luck.

Mon, 12/05/2011 - 16:17 | Link to Comment SilverIsKing
SilverIsKing's picture

"For those who still believe in Voting, Ron Paul is the Only choice"

Well said.

To all Paul supporters: Convert someone today!

Mon, 12/05/2011 - 16:26 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

You can't. Some people are just born that way...

Mon, 12/05/2011 - 18:41 | Link to Comment LooseLee
LooseLee's picture

Many otherwise level-headed Americans are afraid of his Military/Defense position. They have been brainwashed by TPTB's position that the ME rejects our 'Freedom'. I ask, "What Freedom"? Moreover, the ME does not give a shit about our lifestyle, but our insistence on occupying their countries for their OIL.......let them live as they please and adjust our lifestyle to compensate for maybe not having access to all of their OIL...

Mon, 12/05/2011 - 16:34 | Link to Comment pods
pods's picture

Agree that when your labor is priced in something controlled by other men, you are a slave.

Saw an interesting piece by G. Edward Griffin about how JFK was NOT trying to break the FED by EO 11110 though.  Makes sense.

http://www.freedomforceinternational.org/freedomcontent.cfm?fuseaction=jfkmyth

pods

Mon, 12/05/2011 - 16:52 | Link to Comment baby_BLYTHE
baby_BLYTHE's picture

that is an excellent read, High recommend!

Mon, 12/05/2011 - 16:38 | Link to Comment 11b40
11b40's picture

 

http://www.youtube.com/watch?feature=player_embedded&v=M1lJd2eLG0M

Well worth the 3 minutes, if you have not already seen the latest Dylan Ratigan rant on the debt and the lack of political leadership (gonads).

Mon, 12/05/2011 - 16:09 | Link to Comment Hedgetard55
Hedgetard55's picture

Waterfall, bitchez.

Mon, 12/05/2011 - 16:10 | Link to Comment Black Forest
Black Forest's picture

Holy shit.

Mon, 12/05/2011 - 16:10 | Link to Comment hugovanderbubble
hugovanderbubble's picture

EFSF fund is made of JUNK so wont ever be AAA....

ECB is collapsed

Central Banks are TOASTED

 

MAYANS TIME COMING

Mon, 12/05/2011 - 16:18 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

'Twas all good and then you fucked up with:

'MAYANS TIME COMING'


Mon, 12/05/2011 - 16:25 | Link to Comment willien1derland
willien1derland's picture

Mayan civilization has been downgraded by S&P - Timely as always!

Mon, 12/05/2011 - 16:26 | Link to Comment Mesquite
Mesquite's picture

Anyone notice how the $CAC was topping..Few people knew...??

Mon, 12/05/2011 - 16:26 | Link to Comment willien1derland
willien1derland's picture

Mayan civilization downgraded by S&P - Very timely...

Mon, 12/05/2011 - 16:34 | Link to Comment hugovanderbubble
hugovanderbubble's picture

QATAR,

BAHREIN,

DUBAI...

= JUNK

DUBAI just Empty Real Estate - A Desert of Speculation - DUBAI WORLD CO: IS IN DEFAULT and every BRITISH TRADER KNOWS IT.

and Qatar just GAS and oil speculation...no one wants to live in a desert...

Mon, 12/05/2011 - 16:47 | Link to Comment DonutBoy
DonutBoy's picture

No, you don't get it.  Despite the fact that none of the member states are AAA - the EFSF is because it is the combined risk of these uncorrelated constituents that matters.  There will be an EFSF AAA tranche, an EFSF AA tranche, and an EFSF high-yield tranche...

Mon, 12/05/2011 - 16:11 | Link to Comment lolmao500
lolmao500's picture

When do they downgrade Japan, the UK and the US again?

Mon, 12/05/2011 - 16:23 | Link to Comment earleflorida
earleflorida's picture

as soon as the 'bis' says so,... afterall they got the world in the mess were in now - all prize fighters love the upper-cut sucker shot

Mon, 12/05/2011 - 16:11 | Link to Comment lizzy36
lizzy36's picture

I wonder if this will take us to Defcon 2 on our Getting Back to Even scale?

Mon, 12/05/2011 - 16:34 | Link to Comment fuu
fuu's picture

Certainly starting to feel like ground 0.

Mon, 12/05/2011 - 16:11 | Link to Comment taniquetil
taniquetil's picture

That does it. I'm calling it right now.

 

Bullish.

Mon, 12/05/2011 - 16:14 | Link to Comment BlackSea
BlackSea's picture

For physical gold.

Mon, 12/05/2011 - 16:17 | Link to Comment Hansel
Hansel's picture

BULLISH!

Mon, 12/05/2011 - 16:11 | Link to Comment Aunty Christ
Aunty Christ's picture

why do I get this uneasy feeling that this "news" will fuel a rally in the AAA-lites, just like when the US was downgraded?

Mon, 12/05/2011 - 16:12 | Link to Comment lizzy36
lizzy36's picture

LAST AAA in the world will be.........(hint home of the frozen and land of maple syrup....suck on it yanks)

Mon, 12/05/2011 - 16:13 | Link to Comment BlackSea
BlackSea's picture

Mongolia? Vermont? The suspense is killing me...

Mon, 12/05/2011 - 16:17 | Link to Comment Pool Shark
Pool Shark's picture

 

 

Vermont or Aunt Jemima?

 

Mon, 12/05/2011 - 16:22 | Link to Comment Manthong
Mon, 12/05/2011 - 16:42 | Link to Comment derkesthai
derkesthai's picture

Vermont?

I love Canada but won't suck on it. I do, however, wish more of it was like Quebec. Rick Mercer informed us yanks about the National Igloo which I didn't know about before. And thanks for letting the Irish vote. They deserve it.

Rick Mercer: Talking to Americans on Youtube

http://www.youtube.com/watch?v=FeNrgXZpeAw&feature=related

 

Mon, 12/05/2011 - 17:15 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Iceland will be the only AAA+ nation in about a year.

Mon, 12/05/2011 - 16:12 | Link to Comment Josh Randall
Josh Randall's picture

No way Timmy and The Bernanke will stand for this, more money will be there to assist post haste!

Mon, 12/05/2011 - 16:16 | Link to Comment Sudden Debt
Sudden Debt's picture

Is there a site where i can give them my account number for their deposits?
A cool trillion will do.... A billion to.... I won't even complain if it's just a million.

Mon, 12/05/2011 - 16:22 | Link to Comment Hansel
Hansel's picture

I require $1 trillion+.  I am a man of discretion.

Mon, 12/05/2011 - 16:13 | Link to Comment Sudden Debt
Sudden Debt's picture

KABOOM EUROCRATS!!!
hAHahahahaha!
Today some morons saw this green day as the recovery at work and went to their desks to go long on banks... After 20 warnings....
Morons....
Tomorrow they'll be fried!

Mon, 12/05/2011 - 16:17 | Link to Comment Village Smithy
Village Smithy's picture

That's the incredible thing. Inspite of this taste of reality the markets were so ramped up overnight that they are for the moment at least, still in the green. Why, it's almost as if someone knew this was coming. Didn't Tyler suspect this in one of his earliest posts of today?

Mon, 12/05/2011 - 16:13 | Link to Comment way-out-west
way-out-west's picture

I'm confused. Is this bullish?

Mon, 12/05/2011 - 16:14 | Link to Comment Sudden Debt
Sudden Debt's picture

VERY!!
If you shorted about everything on the market :)

Mon, 12/05/2011 - 16:16 | Link to Comment jonan
jonan's picture

your guess is as good as mine, i call manbearbullpig-ish???

Mon, 12/05/2011 - 16:27 | Link to Comment earleflorida
earleflorida's picture

are you serial?

Mon, 12/05/2011 - 18:02 | Link to Comment jonan
jonan's picture

i'm ssssuppper ssssserrrial!!!

Mon, 12/05/2011 - 16:17 | Link to Comment wandstrasse
wandstrasse's picture

it is clear and simple: bearish is bullish, long is short, up is down. question answered? yes or yes?

Mon, 12/05/2011 - 16:19 | Link to Comment Hansel
Hansel's picture

yes

Mon, 12/05/2011 - 20:16 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

Saaaaaay, that is clear and simple...well, not clear, but it sure...hey, wait a minute...

 

Mon, 12/05/2011 - 16:13 | Link to Comment wandstrasse
wandstrasse's picture

farce in full force

Mon, 12/05/2011 - 16:18 | Link to Comment TruthInSunshine
TruthInSunshine's picture

While everyone was (understandably) focused on the capital devouring bacterium ravaging PIIGS, the U.K. with a 1000% debt to GDP ratio (officially; unofficially it's much higher) and the giant sucking chest wound of the most undercapitalized banks in the world in France (along with a nearly UK level debt in France) seemed to just miss the purview of the pundits, pontificators and prattlers on CNBS & Bloomturd.

"Nobody could have seen this coming."

-- Ben S. Bernanke testimony before the Senate, explaining why he unilaterally took unconsitutional measures using U.S. taxpayer monies, at a future hearing sometime in 2012

Mon, 12/05/2011 - 16:15 | Link to Comment BlackSea
BlackSea's picture

Wait, I thought the new head of S&P came from Citi and that he was not supposed to pull things like this. Shocked, just shocked!

Mon, 12/05/2011 - 16:15 | Link to Comment Matt1973
Matt1973's picture

And to that lady crying on the front of today's WSJ....FU, you fat cat scoialist !

Mon, 12/05/2011 - 16:15 | Link to Comment Shizzmoney
Mon, 12/05/2011 - 16:15 | Link to Comment PicassoInActions
PicassoInActions's picture

with all this news we are still positive for the day.

And euro is resilent. some1 is pumping big.

Mon, 12/05/2011 - 16:19 | Link to Comment Sudden Debt
Sudden Debt's picture

If a flock of lemmings is running of the cliff... How do you stop them?
Can you stop them?
Do you want to stop them?
Let's do a recap of 2008, 1 week before the market crashed nose down.

Mon, 12/05/2011 - 16:16 | Link to Comment Teddy Turner
Teddy Turner's picture

Most important video you will ever watch.

 

http://www.youtube.com/watch?v=eUsKrulPnTE

Mon, 12/05/2011 - 16:33 | Link to Comment Worker Bee
Worker Bee's picture

bahahhahahahahahah! lololololoolloloolololololol,...bahahahahahahahahahahah! Its all clear now! *facepalm*

Mon, 12/05/2011 - 16:58 | Link to Comment Teddy Turner
Teddy Turner's picture

Wow.  I remember what it was like to be ignorant.  I understand.

Mon, 12/05/2011 - 17:06 | Link to Comment Sudden Debt
Sudden Debt's picture

It took lt 2 seconds to click it away :)
Did you know people actually pay for shit like that?

Mon, 12/05/2011 - 17:12 | Link to Comment Teddy Turner
Teddy Turner's picture

I'm just trying to get people to think a little outside the box.  Watch it again sometime with an open mind.

Mon, 12/05/2011 - 16:16 | Link to Comment bob_dabolina
bob_dabolina's picture

o/t

New Ron Paul ad...only posting because it's really funny

http://www.youtube.com/watch?feature=player_embedded&v=oxtT2SdZ8ZU

Mon, 12/05/2011 - 16:16 | Link to Comment Everybodys All ...
Everybodys All American's picture

Tomorrow is likely to be blood red in Europe ... unless Timmay goes aawwwwweee in.

Mon, 12/05/2011 - 16:22 | Link to Comment hugovanderbubble
hugovanderbubble's picture

Spain Riots, Strikes will be the biggest ever in history.

Italy the same

Belgium a chaos

French Banks super bankruns coming (yes yes, specially in Societe Generale and Credit Agricole) Who has helped GROUPAMA LAST WEEK? " CAMARA DE COMPENSACION FRANCESA" ....so its a kind of NATIONALIZATION IN FRENCH BANKING SYSTEM? what is SARKOZY TRYING TO HIDE THE REST OF THE WORLD: SARKO RESIGN, DSK knows everything and u have tried to manipulate everything with Christine Lagarde, (IMF).... DSK knows perfectly FRENCH SYSTEM is COLLAPSED.

DSK knows the truth¡

German Landesbanks Trapped in lies and hidden tricked accounting - Commerzbank gonna be nationalizated. 2nd Hyporealestate....Aareal bank toasted.

AND US....ure not exempted, ur MUNIBONDS WILL EXPLODE YES OR YES cos US IS IN DEFAULT and the USD WORTH NOTHING -------------in 2-3 years the USD will explode and in 1-2 the BOND BUBBLE WILL BURST all ur accounts

then IRAN WAR.... (MUSLIMS VS OCCIDENT) ------------------------------------>HYPERINFLATION -------------------------> Gold 3.000-5.000 or more....who cares about fiats....Keynesianism has ended . No more printing machines, he have run out of ink. we need to be backed by real hard assets commodities.

Welcome to III.WW. ILLUMINATI 3rd LETTER SHOW TIME ( Hugo Peterssen Madrid 5 th december 2011)

Mon, 12/05/2011 - 16:21 | Link to Comment Peter K
Peter K's picture

S&P puts all 17 EZ countries on downgrade watch and all we got is a lousy 50pip break in the EUR/USD. Winning the Futures?

I tell ya, it just ain't fair:)

Mon, 12/05/2011 - 16:18 | Link to Comment Hansel
Hansel's picture

SHOCKED BULLISH!

Mon, 12/05/2011 - 16:18 | Link to Comment gatorengineer
gatorengineer's picture

This isnt necessarily Bearish...... May be spun into a December QE3 for the US.........  Gold is going the wrong way on the news....

Dont assume this highly manipulated market is logical, if it were we would be at 8,000 already, and 2500 an ounce....

 

Mon, 12/05/2011 - 16:31 | Link to Comment OttoMBMP
OttoMBMP's picture

Just be grateful for the occasion to pick up some more.

Mon, 12/05/2011 - 16:37 | Link to Comment SheepDog-One
SheepDog-One's picture

Some market force is out there preventing printfest...if they could have they would have by now.

Mon, 12/05/2011 - 16:54 | Link to Comment Xanadu_doo
Xanadu_doo's picture

I'll say it again -- TPTB (politankers) need to play the HERO here, to rush in at the last second and SAVE US ALL like they always do.

Three Cheers for hopium!!

Therefore, we sheep need to feel some pain. We need to beg for a new wealth effect. Or said another way, a few eggs will get cracked first before they serve us up their grand debt omlette.

Mon, 12/05/2011 - 16:20 | Link to Comment TheSheepWolf
TheSheepWolf's picture

Shouldn't we start our own rating agency?

Mon, 12/05/2011 - 16:27 | Link to Comment wandstrasse
wandstrasse's picture

human language has not sufficiently ugly words for ZHers to rate any country or financial institution. but... trying would be fun...

Mon, 12/05/2011 - 16:41 | Link to Comment tmosley
tmosley's picture

I think we can get Cecil on it:

http://www.youtube.com/watch?v=xXyhJB3zYNU

Mon, 12/05/2011 - 16:50 | Link to Comment Bolweevil
Bolweevil's picture

Queasing

Kabukification

Ponzirific

Scroomed

Help me out here...

 

Mon, 12/05/2011 - 17:21 | Link to Comment pods
pods's picture

Fucked?

Mon, 12/05/2011 - 16:38 | Link to Comment Vincent Vega
Vincent Vega's picture

Great idea. We could simply have ratings of "good" or "bad" with accompanying green or red arrows to click.

Mon, 12/05/2011 - 16:20 | Link to Comment sabra1
sabra1's picture

c'mon, this is in the script! the oldidorks have the best scientists, economists, etc., working for them! we're all part of the play, until the final act, which has already been written! WAKE UP PEOPLE!!!!

Mon, 12/05/2011 - 16:23 | Link to Comment chump666
chump666's picture

thats it sell.  no print job just yet until the market sinks 20%.  that an oil has to at least lose 30.  

Mon, 12/05/2011 - 16:53 | Link to Comment Stax Edwards
Stax Edwards's picture

Oil not a problem yet.  Brent has not surged, WTI spread has collapsed. Brent is better benchmark of gas prices in US. We like to refine the light sweet.

Mon, 12/05/2011 - 16:57 | Link to Comment chump666
chump666's picture

yo stax you might want tell the US creditor that...china.  their break point is 95 re inflation.  remember they are net importers.  again the maret is almost blind to the china crah happening now check yuan selling outflows etc.  that is pure danger.  

Mon, 12/05/2011 - 16:23 | Link to Comment Sophist Economicus
Sophist Economicus's picture

Won't matter -- Just like Treasury -- The banks and governments are strange bed-fellows now.   This will be ignored till the day the SHTF....

Mon, 12/05/2011 - 16:23 | Link to Comment vote_libertaria...
vote_libertarian_party's picture

aaaaaaand US stocks are still green.

Mon, 12/05/2011 - 16:27 | Link to Comment junkyardjack
junkyardjack's picture

US equity investors don't care about fundamentals.  Just a bigger idiot

Mon, 12/05/2011 - 16:30 | Link to Comment chunga
chunga's picture

Mic check: Is there anyone left who believes the stock market is a bellwether of anything but fraud and manipulation?

Mon, 12/05/2011 - 16:35 | Link to Comment fuu
fuu's picture

Is there anyone left who believes the stock market is a bellwether of anything but fraud and manipulation?

Mon, 12/05/2011 - 16:40 | Link to Comment Peter K
Peter K's picture

Down twinkles

Mon, 12/05/2011 - 17:41 | Link to Comment chunga
chunga's picture

No

Yes

Mon, 12/05/2011 - 16:37 | Link to Comment tmosley
tmosley's picture

Hey, I just landed on Go and collected $200.  Who cares about global economic catastrophe?  

Mon, 12/05/2011 - 16:38 | Link to Comment SheepDog-One
SheepDog-One's picture

Remember, US stocks are the kids with hockey helmets on playing with cat turds in the sand box.

Mon, 12/05/2011 - 16:24 | Link to Comment firstdivision
firstdivision's picture

Brian Sack is sure defending that 1250 line with every penny he's allowed to comingle.

Mon, 12/05/2011 - 16:26 | Link to Comment RobotTrader
RobotTrader's picture

Gold getting dumped like a bad habit

Everyone piling once again into U.S. Fiat

Interest rates plunging, bringing out "Animal Spirits" which will boost equities even higher after this selloff is over.

Mon, 12/05/2011 - 16:30 | Link to Comment GNWT
GNWT's picture

Sorry Robo, got it backwards this time maybe.

Just a big ole ABC, heading back to low 2100's on the NQ.

Trend is your friend, may be anticipating but an old tape reader like myself can feel the heat from the kitchen, I think.

Mon, 12/05/2011 - 16:40 | Link to Comment SheepDog-One
SheepDog-One's picture

'Even higher' than what....the 1995 levels equities are at right now?

Mon, 12/05/2011 - 16:26 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Kill the whales & seals.

But save John Corzine.

 

#JohnCorzineInnocenceProject

#EricPlaceHolderProjectGunRunner

#LetTheFedsLaunderYourNarcoMoney

Mon, 12/05/2011 - 16:28 | Link to Comment GNWT
GNWT's picture

Hourly Euro and NQ are now lower low lower high, fundamentals back the move.

Risk-Offers?  Risk On for Shorts

Mon, 12/05/2011 - 16:29 | Link to Comment OttoMBMP
OttoMBMP's picture

I send my congratulations to Mitterrand & Delors!

Germany is down, the establishment of the EUSSR's transfer union is now confirmed. Add another national holiday: 11 November, 8 May and now: 5 December!

François, how is your boiling hot champain down in hell?

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