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Summarizing The Sheer Chaos In Europe: 9 Meetings In 5 Days
For over a year, our premise #1 in interpreting the newsflow out of Europe has been that in the absence of actual practical ideas, and the continent's glaring inability to do simple math, the only option left to bEURaucrats has been to literally baffle people with so much endless bullshit that the general audience would be simply stunned by the possibility of an alternative that the union's leaders were all talk and absolutely no action, let alone analysis. As of today, we now know that that is precisely the case: for over a year Europe has been mouthing off hollow rhetoric in hopes that the market would just leave it alone, and that promises of promises and plans of plans would be sufficient. That plan (pardon the pun) has now failed. And so behind the scenes chaos turns into fully public panic. As the FT's Brussels blog summarizes, the only game left in town for Europe now is to push off D-Day, but not to some indefinite point in the future, like the US, but to tomorrow, and tomorrow and tomorrow, to channel the bard here. And nothing confirms better that it is all over for Europe, than the following summation of the terror and utter cluelessness gripping Europe, than the following sentence from the FT: "Just to recap, by Wednesday night there will have been nine meetings of ministers or national leaders in five days."
- Friday afternoon: Eurozone finance ministers
- Saturday: EU finance ministers
- Saturday: EU foreign ministers (general affairs council)
- Sunday morning: EU national leaders
- Sunday afternoon: Eurozone national leaders
- Wednesday: EU finance ministers
- Wednesday (tbc): Eurozone finance ministers
- Wednesday: EU national leaders
- Wednesday: Eurozone leaders
This excludes some pretty major conferences, such as the impromptu pow-wow for Jean-Claude Trichet’s retirement in Frankfurt last Wednesday, and a bilateral summit between Angela Merkel and Nicolas Sarkozy on Saturday.
Simply said, Europe has telegraphed that it has failed to even plan for a plan.
But for those curious about the largely irrelevant details, here they are again from the FT:
After a two hour overrun, the meeting of the EU 27 has broken up here in Brussels, to be followed by a pow-wow of the 17 eurozone members. This could be another late one.
One thing we know has been agreed so far: more meetings.
Instead of a single summit of eurozone leaders next Wednesday, as had been planned on Thursday afternoon, it now looks like there will be at least two – but probably three – more separate get-togethers.
The most important of those will be European Council (of 27) just before Wednesday’s eurozone summit.
This is painted as a big win for Britain and Poland, the biggest “outs” (of the eurozone) who are afraid of seeing their influence on the wider EU wane by literally not having a seat at the negotiating table for the big decisions taken by eurozone leaders.
Oh, and don't think for a minute that the US is in any way better, or immune: it isn't! Courtesy of the massively interconnected network for global debt, as represented most recently here, we know that any blow up in Europe will immediately shift over to the US. And when that happens, everyone will hit the turbo print button.
The rest is Weimar history.
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ALL IS WELL, MOVE ALONG!
Any counselor will tell you that the most important thing in a relationship is communication. </snark>
I heard that the meetings went like this: http://www.youtube.com/watch?v=OdKa9bXVinE
Well enough to prepare for: a) CRASH b) CRASH c) CRASH
ZH and its catering to doomer redneck goldbugs has gone too far. Look at what CNBC are saying: "Euro zone talks are progressing well on banks and the European Financial Stability Fund, and progress is also being made on Greece, French President Nicolas Sarkozy told a press conference on Sunday." EUR/USD to 1.50 ///SARC. WHY IS THERE SUCH A FUCKING CLUENESSNESS IN THE MSM THI WEEKEN ON THE EURO SUMMIT!!! WHY IS ZH THE ONLY RELIABLE AUTHORITY ON THE EU CLUSTERFUCK????? ARE ALL EURO SHORTS ABOUT TO TAKE IT UP THE BUNGA HOLE WITHOUT K-Y AS THE MSM PROMISES A TOTAL SOLUTION BY WEDNESDAY? A TOTAL FARCE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Funny.Go long young man. go long.
aND DON'T FORGET TO LEVER UP!
Shoot the moon! This game will go on indefinitely.
Thanks to president obama pretend is now real!
All americans should be grateful for his wise and courageous leadership?
Yes this is a farce. This is why we must all dress up and go for the show!
Show is scheduled to start on 5th november.
http://www.youtube.com/user/TheAnonPress#p/u/2/fKQ8CXNGAcw
We are Anonymous. We are Legion
We never forgive. We never forget.
Expect us.
France vs Germany. That's what it boils down to. French plan: can kick with EFSF then when we're called out by the market, monetize the shit out somebody's ass. Germany: "No, we can't do that, been there done that." So what do propose? "Um... er..."
Obvious choice: Germany returns to the Mark. The sooner they do it the better off for them... The longer they wait, the more uncertainty, and the more difficult the divorce. My guess is an announcement comes in weeks or days...
Contrarian indicator?
http://www.zerohedge.com/news/its-baaack-ft-deutschland-pronounces-deuts...
My understanding is that the German people welcome it according to polls... any Germans care to comment?
any Germans care to comment?
I do. My raw estimate: 40% are pro DEM, 40% are pro EUR, 20% don't care. The current pro-DEM position is much stronger than, say, two years ago and continuously (though slightly) increasing. The younger the people, the more pro EUR they are.
What Germans in general think is not important. Germans follow MSM, so if Merkel wants to sell germans to buy into EURO, they buy it. All sheeples and lemmings
I have no idea in which "germany" black forest is living.
A little history of the EUR, regarding germans:
1. Right before EMU creation: "Ah, yes, we are all one big europe instead of just small countries - now we also get to be like the big boys"
2. Immediatelly after EUR introduction: "WTF is this! Raaaage! We want the D-Mark back!"
3. 2-3 Years of demonstrations and euro-bashing by the media follow. A critical mass however isn't reached. German mentality being conformist, the accept their fate.
4. EMU starts to implode - people go like "Err, wtf? Now even the 'one strong big europe' is untrue, and we are supposed to pay for this neverending crisis?"
Result? Well, after the introduction of the EUR, the majority of germans never really *prefered* it.... they simply tolerated it, and felt unsure about what would happen if the D-Mark comes back. A bit like "If we return to the D-Mark, does then europe stop to exist"? (lol).
So, the current overall sentiment, isn't just NOT pro-EUR.... it actually is pro D-Mark, with the only thing restraining people being:
1. Uncertainity about what then happens to europe.
2. They haven't felt the costs of the current bailout-orgy yet.
#2 is the dealbreaker. The issue is: Germans have paid an extremely high price in livestandard reduction for the EMU, and they are now at a point, where they are just barely restrained. As soon as they even just slightly feel the price for kicking the can, you'll get the german version of the riot-cam.
So, german sentiment: Pro-europe, euro-sceptic, and foam around the mouth
Won't happen as a political decision. Not by a 'leader'. The EURO project is globalist and no single politician will take that bullet.
Much violence to come, and until it is rampant within Germany the globalist will maintain the upper hand
Should see 1250 on es real soon. It's a free market after all. /sarc
Three months ago some bitch was on CNBC and said the same thing.
Her words, The market will go to 1250 because the HFTs like to push things to extremes.
Then we should have a correction. This was before the drop to 1101. Interesting.
I got PMs bought long ago and 100% Cash. Screw them and their manipulated bullshit.
If it really is all HFT folks and a wave of inflation is coming, why wouldn't you expect the damn thing to go to 1400 and beyond. This is sort of like greek 1 year bonds yielding 160%. God only knows how high the paper markets will go at this point.
On paper everything will look great. Sort of like the weatherman telling you it is a sunny day right before you walk out into reality and find yourself in a shitstorm.
Wow, some cash in PMs and still manage to be 100%? Impressive, far better than everyone elses record of buying truckloads of gold on dips and NONE like most of the sheep from 1700++
whoops!
the re- set starts in 5,4,3....
o.k. can we get this over with, please...
It is amazing how long they have delayed. Can they delay longer? I would think not, given that even the rubes are aware now.
The only thing left is normalcy bias. Too many people just can't believe we are fucked!
well, if the tea leaves are correct
this week...
there about to get a wake up call
in the form that would make a infantry drill sergeant proud....
I think this is article is ahead of itself by a month or two, but we'll see on Wednesday. The market will be believe any bullshit, even underplanned plans so long as they hold things up until tomorrow to tomorrow to tomorrow, and that is precisely what we get on the 26th. Plans to stave things off, if even for just another day, two, or month or two.
I'm convinced at this point: we won't see a 15% downtick day....we'll see it slowly unravel, then fast. Plan accordingly.
What, pray tell, are these continual references to Wednesday?
hey, knuckles..
this is what ive heard...
reinhardt, the same guy who called the 2008 collapse, to the DAY, is saying the same thing is going down weds. the 26th...
maybe its going down....maybe not...
hope that answers it for you....
who is this guy? you have a link?
from what ive seen...
its on wordpress...
subscription only...
but, yeah, he seems to be spot on...
no joke...
p.s. his other website is enterpisecorruption.com for non subscribers...
hopefully it'll help
Mistyped - Should be www.enterprisecorruption.com
sorry, bro...
my bad...
Ah hah! Many thanks, Captain.
anytime, bro...
happy troll hunting...
:)
It's Rebecca Black's new single, haven't you heard?
Sarkozy's new favorite.
That's probably the best reason for a market crash to date. Gives me an idea for correlating down days with pop music releases.
'What, pray tell, are these continual references to Wednesday?'
Wednesday, good sir, is the day after next Tuesday, when I shall pay you for the hamburger you so generously served to me today.
OR NOT!!!
But all these meetings must be creating some economic activity. Maybe this is their anti-austerity medicine.
I'm sure the buffets alone create billions in economic activity.
"World power swings back to America" --- Forget crisis, collapse, weltdown, Armageddon: the US will rise again, like a Phoenix. AEP tells it all.
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/8844646/World-power-swings-back-to-America.html
So these blogs can be shut down:
http://endoftheamericandream.com/
http://thecomingdepression.blogspot.com/
http://theeconomiccollapseblog.com/
http://www.shtfplan.com/
Not only the euro will survive, the $$ too, as well the economy. Told you soooooo. Really, no worries, just look at the future. Merry Christmas. Boring world we live in.
World power swings back to America
I think so. Just a matter of time. Ten, twenty years.
Who owns "America?"
Nationalism, what a trite conceit.
Other interesting things are:
Standard of living
Value of the dollar
War
Famine
International chaos
Environmental Glow
GMO
will this allow the banks to pay back their debt. Will Mary Magdalene reappear. Will frak gas be so good that it doesn't blow up manhattan? Merry xmas indeed!
Yes, I saw that article too. Many, many comparison were made to Japan in the 1980's Sure buddy, and how much has the Japanese market returned over the last 20 years? Winning!
Boring world indeed. I'll take the contrarian play and expect an exciting world over the next 20 years with conflicts in all kinds of places that you never would have expected it.
AEP doesn't have it right on US oil import/consumption. Imports are nearly 60% now. 20 years ago it was more like 30%. We produce slightly more than we did in the 80's, but use a LOT more.
AEP may have it right on the oil thing and labor costs ... maybe.
Our problems go far deeper than labor costs, however. Our medcial care is too expensive, we have too many lawyers and we still borrow $1.6T / year at a federal level.
His article mentioned none of these issues.
sschu
They agree to disagree
They agree something needs to be done but can't agree on who will pay or when.
The only thing left to do is downgrade anything AAA. This way we live in AA world, who's wiser to the difference (kind of like what we did with our standarized tests) Manage the expectation by lowering the standard...it's the American way
The United States has its own suicide pact in the form of the super committee.
BTW, when is the date of the "automatic cuts"?? I thought it was in November, is that correct?
Doesn't matter. They will just legislate around it, i.e., change the rules again. The game goes on. Like an endless Monopoly game at 4 AM and there is no beer left. Misery.
My understanding is the "automatic cuts" come into play Jan 2013 (NOTE -- after the next election). But you will never see those. As the previous poster said, there's 15 months for CON-gress to pass another law that vaporizes the automatic-ness, or at least exempts sacred cows.
We could always send our Super Committee to Europe to help out as a Grand Gesture of International Good Will Demonstration of the Effacicy of the New World Order Size is Better Maximus Leviathianus.
"We could always send our Super Committee to Europe to help out . . . "
Brilliant! By Jove, you've hit upon the viable plan. They've had all the other necessary ingrediants to arrive at a solution - French logic, German attention to detail, Italian fervor - what they've lacked is American know how. Super Committee To The Rescue! My hat's off to you.
They are losing credibility - even with the markets. I think the markets are ready for reset, unless they come up with very specific plan that has chance of being approved by parlaments. Their ability to bs around ends this week.
"plan that has chance of being approved by parliaments."
Maybe they'll pass a plan that they realize won't receive parliamentary approval, just to kick the can down the road for another month or two.
It's Halloween soon, one of the most important illuminati sacrifical holidays, if not the most. Is the whole of Europe and it's peoples about to be sacrificed as part of a sick illuminati ritual?
"October 31 - Samhain, also known as Halloween, or All Hallows Eve. This date is the Illuminati's highest day of human sacrifice"
head lines at both cnbc.com and market watch are both extremely positive about europe meeting today??????????
Well of course. If you're in the supposed news, shits and giggles perceptions management business, you'd kinda cut your own throat if you just said...
"Ladies and Gentlemen, It's Fucking Over."
What then?
More Jersey Shore re-runs?
"World power swings back to America" --- Forget crisis, collapse, weltdown, Armageddon: the US will rise again, like a Phoenix. AEP tells it all.
Not if Bernanke doesn't take a foot off the monetary accelerator!!!!!!!
http://confoundedinterest.wordpress.com
Yellin and Tarullo are already screaming for more QE and inflation!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
We all scream for more QE. Be honest and say you don't want any? You can't.
http://www.businessinsider.com/huge-prediction-from-bofa-another-us-debt...
Hey, it's businessinsider but ya never know...
You scream, I scream, we all scream for Benny Bubbles' Schweddy Balls ice QE3ream!
Sarko tells Cameron, "Fuck off you toffee-nosed English twat. I fart in your general direction". Cameron replies "I say, steady on old chap".
http://www.telegraph.co.uk/news/worldnews/europe/eu/8844773/Nicolas-Sarkozy-tells-David-Cameron-Were-sick-of-you-telling-us-what-to-do.html
three card poker: The british trojan horse, the french keynesian brigade and the german austrian vision of mercantile industrial export model. Its centuries old since Richelieu days. Poor Jean Monnet must be turning in his grave. "We haven't moved an inch!"
This charade has proven that IN REALITY politicians are irrelevant as intermediaries between people and oligarchs; except that democracy makes their presence indispensable. How do you resolve that without rubbing noses with Caesar? Its the rubik cubic.
Change the can to a soccer ball and we are all cool. In fact the euros are great with the feet and not with their hands which I think explains a lot. Afraid to get their hands too dirty don't you know.
Is THAT why Da Bears and Da Bucks are currently playing at Wembley?
So when Europe blows up, the fallout spreads to the US, which will then print like mad and hyperinflate the dollar. OK, that's clear and plausible enough.
But what about the euro? If the Europeans (or rather, the Germans) are so protective of it that they would rather let the whole system blow up than to allow the ECB to print, does this mean that the euro will still be there when the dust clears, all good and ready to take over as the world's reserve currency? Or will the euro somehow be undone by the collapse of the European banking system?
QE to Infinity.....AND BEYOND!!!!!
No,no,no! No QE yet! That's 'sposed to happen just before Obummer's reelection!
Meetings like QE to the Nth won't save this motherfucker!
What is the link showing how exposed the USA is to the whole Euro debt crisis mess?
Good request. USA is utterly intertwined, shadow bookeeping and other swarthy accounting notwithstanding.
They saaaid, the U.S. has minimal exposure to the EU's soverign debt. Now shut up and believe what's put in front of you.
What? A - for sarcasm? /sarcasm. There I fixed it. Now you might understand.
Sark and Mr. Bean I never noticed the resemblance before, its the eyes (and the mouth and the nose...)
found this
http://images.cheezburger.com/completestore/2010/4/16/129159227580691946...
That cube doesn't make sense... I see whatya did there... clever.
They should make those meetings public
will be uber interesting to listen to idle talk and bullshit
Don't know if this got skipped. Banks are still on top?
http://www.financialtrustindex.org/
The only thing left is to close the markets and close everyone out. Then these fuckers don't have to do shit. Just like they always have.
You have got to hand it to the German people. Modern Germany is a productive, forward looking place. There people are friendly and they do the decent thing.
However, this problem is a bit too big. So the German plan is this:
* Can't write a cheque big enough to solve the problem (and don't see why they should)
* Have to be seen to be doing the right thing
* Sarkozy / EU / French Govenments are either idoits, meglamaniacs or fantasists, some times all three - so just string them along.
* Write a quite big cheque to a) Show good will b) Plough money back in to German Banks to prepare for default losses
* Once ready, hit the "eject" button on the EURO and lanch the new Deuch Mark. Make sure you are first to leave the euro and use the BIG CHEQUE previously issued as cover for the fall out.
* With German banks saved, they can cherry pick the bargin investments post EURO crash
There is a plan, its just not being discussed
And you can bet there'll be some cherry pickin' post Euro crash; that's how Sir John Templeton made all his moola post WW2.
LOL! Yeah, it is until the cheap energy is taken away. Oh yeah, just got that Lybian crude on board. Germany lives on.
I don't get this constant reference to Libya's oil production. It supplied/supplies just circa 2% of Global consumption, the World's 17th largest producer. Is it really a game changer, am I missing something?
all will be explained on wednesday next...the messiah cometh.
Even God took seven days to build the world. Merkozy are on schedule.
This is all bullish! Get with the CNBC Cramerica view of things! Market looking to challenge the upper Bollinger band at ES 1380 just like 2008! /sarc Caveat: 340% short as of Friday close. Fuck the Euro summit.
i am going all-in long next week bitchez
Awesome- that almost guarantees a drop in the S&P....
yeah, i know, sux donit?
Being one of the 99%, and way below the "out of money" 1% line, I've decided to do my best to profit from the ensuing end of the world just like the TBTF crowd. Here's my offer to the betterment of man kind:
I'm selling squares at $5 a pop for those who want to place their bets when exactly the world ends! Precise date and time required. I'll split the pot with the winner; well, I understand that's tough to do once the world actually ENDS, but those are just more picky little details. PM's will allow a 10% discount on square price! Get 'em quick while they're available!!!! Contact "www.theworldends.com" to place bets!
If this goes over well, I'll be expanding this little endeavor to include other key events such as:
DISCLAIMER: winnings may or may not be "shared" depending on circumstances beyond / caused by Newbee's control.
OK, this is a post from an earlier one and I don't give a crap!
A pub in Newcastle, UK has a "Stiffs Club"- you bet which celebrity dies that week, as an accumulator- Michael Jacksons early demise awarded somebody there £1450
Ah yes, but what do all those pesky meetings matter when you have all those good eats and comphy beds in swanky hotels; might as well live it right up to the last.
Funny how everyone here is predicting a crash.
Why all the doom and gloom?
When just Friday, 2 Dow stocks broke out to new highs, and 15 of 30 cleared to new highs for the move.
The market seems to be getting stronger, not weaker.
ROBO EURO OPTIMIST--the eternal bull.
I agree.
Was an awesome signal in Oct 2007.
The DOW high is 14,100 and all original DOW companies are gone sans 1 (GE)
AIG was in the DOW as early as 3 years ago...how are they doing?
You are not going to change the stripes on Robo (he is a perma bull through and through) and the facts seldom matter especially when they do not fit his trading stance.
First loss would have been the best one here. Eighteen months later and now Greece has gone from saying they no money to needing 450B Euros.
Remember this from January 2010:
We don’t expect to be bailed out by anybody as, I think, is perfectly clear we’re doing what needs to be done to bring the deficit down and control the public debt,” Finance MinisterGeorge Papaconstantinou said in an interview with Bloomberg Television today.
Papaconstantinou is trying to buttress confidence in Greece’s fiscal plans after the ballooning budget deficit last month triggered a sell-off of the country’s bonds. European Central Bank Executive Board member Juergen Stark earlier spooked some investors about Greece’s vulnerability to default when Il Sole newspaper quoted him as saying the rest of the EU won’t rescue the country if its fiscal position worsens
Papaconstantinou said today there are “absolutely” no discussions under way with other European governments about crafting a rescue package for Greece.
“The markets are deluding themselves when they think at a certain point the other member states will put their hands on their wallets to save Greece,” Il Sole cited him as saying.
Papaconstantinou acknowledged that financial markets will be looking at Greece “very carefully over the next few months.”
“Hopefully what they will be seeing will be reassuring them that indeed we are moving in the right direction and they should continue funding our large debt,” he said.
Concentrate on the Math and what Germany AND the IMF say. At this point it is ALL that matters. Not even sure the ECB has much of a say anymore.
This was a productive weekend!
I think I finally managed to match them!
Now I have a really superb forecasting /history study interest tool . Have a look at exercise behind matching GREAT DEPRESSION and GREAT RECESSION timelines for the first time ( once I managed to patternalize ( ?) OUT FED's grip on USA stock market prices) and, as usual, better visibility charts plus explanations here:
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&p=34732#p34730
And here:
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&p=34732#p34732
The supplement chart for rereading the history of GREAT DEPRESSION and rethinking the future as time line can be extended as well:
http://farm7.static.flickr.com/6055/6273870574_8de9d22b08_o.png
http://farm7.static.flickr.com/6217/6273870954_52bd042a99_o.png
http://farm7.static.flickr.com/6232/6273871980_62a22ec234_o.png
IMF vs. EU:
We need a few more days to trump up a new terrorist threat to sell our new wealth distribution program. LOL.
Scare as Sarkozy departs Israel
More scary strawman can convince the masses to take cover.
Everyone here in Los Angeles is pumped about all the great football games played this weekend.
And Xmas season is already approaching, people are making plans for a prosperous shopping season.
Nobody, I mean nobody gives a rats ass about Europe or the OWS movement right now.
What movement? A bunch of nobodies sleeping in their own filth, using a (fine example of American capitalism no less) restaurant's bathroom when in need, tweeting their protest pics from cell phones their parents bought them... ill give those hippies until the cold weather comes in.
Talk about bubbles ... you need to get out more. If European banks or sovereigns going bk don't matter what the hell does?
It's nice that you can speek for everyone in California. That's just awesome and special.
It sure is. Every day, the other 57 states pray that you fall into the pacific ocean so we don't have to pay for your European central planning mistakes.
Hey, he's from LA.
Even the rest of CA hates LA.
Remember when that film "Battle Los Angeles" came out?
We were seeing another flick and the "LA" trailer starts and everybody started hooting and hollering, cheering for LA to get wiped off the map by the aliens.
and you know what "everyone" in LA is doing for xmas how? did you take a survey, do you interview people on the street?
and if so did you go into places like Pomona, Compton, Inglewood,watts, echo park ect?
somehow I doubt it..
so I'm guessing you actually you don't know if anybody outside of your own little myopic box of a world is planning for a "prosperous shopping season"
nor do you have any clue as to how people may or may not feel about Europe or OWS...
another day, another bullshit post from robot trader.
teddy bear for the new kid
http://www.spiegel.de/images/image-274912-galleryV9-tqlr.jpg
To Print or not to Print, that is the question.
Sarkozy would Print for fear of the death of the Ponzi and the debt bubble.
Merkel and the ECB would not Print for fear of the dreaded Hyperinflation.
If it be Print the Bankers and Longs will rejoice as the flow of new fiat courses through their books and markets inflate.
If it be not Print the Shorts will rejoice as the Ponzi implodes without fiat to sustain it and the stock and bond markets crash.
Which is it to be come Wednesday?
I'm leaning toward the ugly German bitch.
Yup
What he said Boss
Baffle'm with Bullshit Boss,Baffle'm with Bullshit.
Delusional FuckTards.
What do the Rothschilds suggest ?
They must have a good finacial strategy.
Guesstimating here makes little sense, but if history still is ANY guide, next week will be EPIC! Oh, there will be of course one he'll of a Santa rally, but AFTER printing presses have been launched!!! Or Not?!?!? See how ridiculous all this "bitching" really is? Those who own the game are the only ones who KNOW THE RULES and can change them at any time!!! Or as I like to say, the SITUATION is fluid to the last minute!!!
They were told not to take it seriously, and not give give the crisis any credibility by giving it enough respect to merit a 'plan'.
This is how the West is run these days, they think facts don't matter, it is simply a question of managing the information and trying to feed the media with the approved storyline.
And that's why we are in real trouble.
I don't even think Churchill's 'only once they have exhausted all other options, will politicians ever do the right thing' even applies any more.
New history coming down the track, the minute some media figurehead takes up the flag.
You know what comes after nine meetings -- 15 reports!
Think about the poor trees!
This is all just one big dog and pony show, with the objective of getting America to bail out Europe again.
Never let a good crisis go to waste. Maybe TPTB are just waiting and agitating for this sucker to go down, so they can come to our rescue with their one world currency.
Now that we had that surprise scheduled pull-out in Iraq, maybe it's time to start WWIII with an attack on Iran and Pakistan simultaneously? That along with a Euro zone Finance breakdown should do the trick.
Treasury considers 'new' debt security...
Clown heads of Europe.
This is so confusing.....exactly what would be acting in a contrarian manner?
Ok, here's the game plan for the last few weeks.
(1) The TPTB hold a weekend meething that "fails" miserably, at least in public, so the people inclined to short the markets will pile on.
(2) Next the TPTB asks their friends in HTF land to juice the upward momentum, inducing an epic short squeeze, that allows the TBTF banks to unload more of their stinking assets.
(3) Midweek announce another weekend tryst for Sarkozy/Merkel.
Rinse, repeat to taste, until there are no more suckers who want to be sacrificial shorts. The contrarian play obviously is to incorporate a euro-bank and plug yourself in to the inner circle.
Full quote from "the bard"
Macbeth:
To-morrow, and to-morrow, and to-morrow,
Creeps in this petty pace from day to day,
To the last syllable of recorded time;
And all our yesterdays have lighted fools
The way to dusty death. Out, out, brief candle!
Life's but a walking shadow, a poor player,
That struts and frets his hour upon the stage,
And then is heard no more. It is a tale
Told by an idiot, full of sound and fury,
Signifying nothing.
Macbeth Act 5, scene 5, 19–28
The European chaos will likely be ignored this week because of all the confusion of meetings, but a push higher in equities will likely setup the next larger mover lower. The SPX is pointing to higher levels this week as the DX is inversely moving to lower levels. The "rIsk on" tone is expected to continue this week. http://bit.ly/q2Vjrx
Bullish!