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Tiger's Robertson "Europe In State Of Financial Collapse"
In a moment of clarity, Tiger's Julian Robertson educates the money-honey on just how bad things are. Robertson started by trumpeting how bad macro is everywhere, moved on to Europe being in a 'state of financial collapse', likes shorting weak European currencies (Hungarian Forint) and warns of the possibility of a rapid rise in interest rates in the US. He is positive on NOK, thinks Canada is a 'very well run country', is a buyer of US large cap tech (citing GOOG and AAPL specifically), and sees Visa/Mastercard growing at 20%+ per year for some time.
The full interview is embedded below, and while some is group-think, he is very clear on where he sees risk and return potential in the world.
Bad (from Bloomberg):
*TIGER'S ROBERTSON SAYS `MACRO IS SO BAD EVERYWHERE' :285691Z US
*TIGER'S ROBERTSON SAYS EUROPE IN `STATE OF FINANCIAL COLLAPSE'
*TIGER'S ROBERTSON SAYS EXPECTING GREEK DEFAULT :285691Z US (and is worried for Portugal and Italy also)
*TIGER'S ROBERTSON SAYS WORTH SHORTING WEAK EURO. CURRENCIES
*TIGER'S ROBERTSON SAYS HUNGARY'S CURRENCY `LOT OF RISK': CNBC
Neutral:
*TIGER'S ROBERTSON HASN'T LOOKED AT FINANCIAL INVEST.: CNBC
Good:
*TIGER'S ROBERTSON SAYS LONG NORWAY CURRENCY: CNBC :285691Z US
*TIGER'S ROBERTSON SAYS CANADA `VERY WELL RUN COUNTRY'
*TIGER'S ROBERTSON SAYS SINGAPORE DOLLAR `AS STRONG AS CAN BE'
*TIGER'S ROBERTSON SAYS GOOGLE `VERY ATTRACTIVE' :285691Z US
*TIGER'S ROBERTSON LIKES APPLE: CNBC :285691Z US, AAPL US
*TIGER'S ROBERTSON: VISA MASTERCARD TO GROW 20%+ `FOR SOME TIME'
And for those looking to participate in Julian's FX trade views - here is HUFNOK:
Chart: BBG
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These fucktards never follow their own logic to its logical conclusion. Buying equities when Europe is in the middle of a financial meltdown? Whaa? Buying any fiat when others are burning?
The whole system is based upon debt-money, derivatives, and unicorns shitting skittles forever. When the system goes, it will get ugly...
Personally, I like Mike 'n Ikes more than I like Skittles.
I like the box. Drives my thumbs nuts, batting it all over. They tape the ends shut now.
What? You don't even have thumbs.
Or are you one of those new-fangled breeds with the jellyfish gene splices? I hear you guys glow in the dark, too.
and the rumor cycle via dumbass goverments and CBs just sent oil bid. Nice. The EZ and China (especially) just got a mth worth of oil inflation.
I try to point that out to friends and family every time we have seen these bullshit rallies. Some stupid piece of news comes out that drives the market up and they like to act like that is a sign that things are going well. I tell them to enjoy the higher prices at the pump because they always drive oil up with the stock market. That makes them a little less cheery. I then say, "by the way, how much does gas cost nowadays?" I never really know what gas costs but I'm pretty certain they do. Bwahahaha. Cheer on the corruption, bitchez.
Djesus, that guy looks like a talking corpse. Long plywood?
With his kind of money, he could get a bed full of nubile college coeds most any night and also the 5 pounds of Viagra and Crank he would need to use them til morning.
Of course, his wife would probably kill him for it when she found out. But still.
yeah europe is done.
Jim Rogers says if Greece can be allowed bankruptcy, he would be backing up the track to load up all the Euros he can get.
A Greece bankruptcy would actually be a good thing because it's time for people to acknowledge reality. If you’re bankrupt, go bankrupt, reorganize. Countries have been going bankrupt for centuries, there’s nothing new about it.
If Greece defaults, some other countries will default too—Italy, Spain, Ireland and a few others. If this happens the euro will go down a far amount. But I would buy all the euro I could at that point because then that would mean that Europe is going to have a very strong, sound currency. People can not lie about their finances anyone, people have to run a tight ship.
It would be a lot of pain between now and then, but boy if that happened in the next month or so, buy all the euros you can. - in CNBC
The new head of the IMF has said to the [euro zone], ‘guys you’ve got to raise more capital’ [and] they do. They’re the ones who bought all this garbage, why should you and I and Finnish taxpayers bail out banks that made mistakes? I didn’t make those loans, they made the loans," he explained.
Jim Rogers also said he was going short Treasuries earlier this year.
Here's the chart
http://4.bp.blogspot.com/-hYRn0m_YcuU/Tm_guAgG7OI/AAAAAAAAAKQ/ivfVVb_-ASA/s1600/10yr.PNG
Yes, yes, it's true. But He's generally right. It's almost impossible to avoid shorting treasuries; you know the fucking things are worthless, and they can't go much higher; but then they do. I'm short the long bond right now and not doing very well; (under water a little); but some day, our ship will come in ! Of course, in the mean time I may have to take my third stop-loss on these damn things. Couldn't we just say, it's not easy being Jim Rogers; and give him a pass?
I am with you.
Short December 30 year. Under a little myself ( 137.5) tried to get more @142.5 but it hasn't got that high yet
It's easy money. I might have to go under water a lot more but just like when gold tanks, it let's me add to my position. It might take three years, but when it pays, it will be worth it. Don't forget to sell puts.
All just my opinion. I can afford to lose the money and just might. Before following my trade, read my name.
Good luck
Just buy scads of TLT. Play the kneejerk reaction.
bad puddy!
Canada is as well run as any other Ponzi scheme.
Something that went by fairly unnoticed was the $500 billion debt limit increase passed by the US Senate last week. WSJ covers it here. Half a trillion is not what it used to be and merely chump change nowadays.
http://www.economicfreefall.com/
Hey! It's a pretty big deal for the 6 or 7 people who're gonna find jobs because of it, OK? Might even be 8 or 9 jobs saved or created from that half-trillion. USA! USA!
PS That particular debt-raise was actually legislatively "priced-in" as part of the original deal. What isn't is this new $447bn jobs for the boys crap. Which is apparently going to be paid for by tax hikes on carried interest (i.e. capital gains).
Popcorn time...
in other words... everything is fine... if you are into geting bet over ..
CANADA is on the verge of going tits up. US sneezes CANADA is in critical condition. What world is he in? For instance, taking in consideration that we have 10% of the pop., BC is going in debt to the tune of 2 billion just for taking the HST away. CAnadians live pay check to paycheck. We are in DEBT more then AMERICANS per capita! The list is emdless. Google CMHC collapse
Shhhhh.....we all know were different up here. I mean were a little different up here. So don't go and spoil our wondrous delusions with anymore of that reality crap. Oh and have a nice day!!
Well at least we made a pile of money on the Olympics.. we can use some of that to repay the HST thingy....
We made money on it right?
Right?
*crickets*
CANADA is on the verge of going tits up, eh. US sneezes CANADA is in critical condition, eh. What world is he in, eh? For instance, taking in consideration that we have 10% of the pop., BC is going in debt to the tune of 2 billion just for taking the HST away, eh. CAnadians live pay check to paycheck, eh. We are in DEBT more then AMERICANS per capita! The list is emdless, eh. Google CMHC collapse, eh
Shhhhh.....we all know were different up here, eh. I mean were a little different up here, eh. So don't go and spoil our wondrous delusions with anymore of that reality crap, eh. Oh and have a nice day!!
Well at least we made a pile of money on the Olympics.. we can use some of that to repay the HST thingy...., eh
We made money on it right, eh?
Right, eh?
*crickets*
There, fixed it for all three of you, eh.
You read the globe and mail and ZH basement trolls too much, Canada's real estate will crash - yes, instead of whining about it use it to your advantage.
If some idiots didn't listen and learn from the USD then they deserve to get fucked.
Buy the crap from their bankers at 5 cents on the dollar.
We have more gold in the ground than 99% of all countries?
We have mroe oil in the ground than 99% of other countries.
Our debt to GDP is the best in the G7
You fucking negativists are laughable.
Jump off a fucking bridge then and get over with it.
Next
Golllllllllllddddddddd.
'BC is going in debt to the tune of 2 billion just for taking the HST away'
That was the people of B.C saying fuck you to Ottawa.
Prosperity is left for the “one percent” of the population. I feel like everything is moving in the direction of "the French revolution II".
Americakkans don't want to rock the boat because all they want is right there in the front of their LCD screens and maintaining the benefits of the Empire.
Doesn't it seem ridiculous that he would call it "ridiculous" that Apple's mutiple isn't at least 3/4x higher? Really? That would put the market cap over a trillion and the multiple at 60x.
Mastercard is at 20x earnings. Seriously. If you had a company generating $100 in profits would you pay $2,000 for it....
Just silly. Therefore, he will be spot-on. Anything that doesn't make sense one should go long on.
No, really; the only thing I can come up with is he's ga-ga. It doesn't make any sense; and it really isn't going to happen. I promise to apologiise if I'm wrong; but there's a limit to nonsense, too; just like everything else.
LONG Norway currency? This is proof that Tiger counts every one 4 Retarded.
Ooooooiiiiiiillllllllllllllllll.
I warned my boss today that Europe is going to tank any near term rally in the market and that due to the law of diminishing returns on easing it is not going to rebound as quickly this time. He didn't like that much. Then I told him that within a few years the same crisis that is happening in greece is going to unfold in America. Pretty sure I'm now very close to getting fired. Oh well. Even Galileo was wrong for a spell, 'merica.
If you are working with a bunch of clowns you might as well be their cheerleader and carry on with your day job. Nothing is going to prevent a major financial global collapse now. Very few want to listen. Most live in la la land only worried about what will happen in the next few hours.
jdelano and King
Green.
YES re shutting up around the Sheeple especially if your boss is one! I only know two others who have bought real amounts of PMs in recent years. TWO!
ZH-er tmosley has commented that only 1% or so of Americans have investment gold (non-jewelry gold). But, maybe it is 3%? I don't know. But, even if 3%, that means hardly anyone is ready... I presume most survivalists have PMs as well. Still, that is a tiny percentage...
And yet as is pointed out here "even fewer own equities." of course it's really hard to buy equities because... because...because...
Agreed.
These days...squeaky wheels don't get greased....they get burned.
If you like your job do it and keep your mouth shut. Nobody likes a smartass....especially an expendable smartass....
Just sayin'..
Maybe, instead of firing you, he will just make you leave he grill and work the counter for a while.
FWIW.... Unless you are very good friends with your boss, never boast or make unfavorable predictions. It always ends poorly.
Seems unduly hostile. He asked my opinion, I gave it to him. As it happens, I'm a VP for a heavy civil contracting firm, and its my job to manage risk in the company's portfolio. Or at least, it was until today... If I get canned though I wouldn't be ashamed to take the grill job. Better that than 99 weeks of sucking on uncle Sam's tit.
OK...., my humble appologies. You're the exception and not the rule. ;)
Good for you man. I pissed off a lot of people 5 years ago- I was working in a real estate adjacent capacity- by telling them it was going to shit soon. Nearly got fired before I resigned for another job. Now I've got former bosses begging me for consulting work. When I tell them the last 3 years have been paper fantasy, they get pissed AGAIN! The VERY few that listen, though, are listening intently.
I was about to fall asleep listening to him talk.
Endorsing Romney at the end says it all for me. Twat.
Time to lighten up my short EURUSD position from 08/03/2011 All the negative Euro talk is staarting to make me think the bottom may be close. Half profit here, close the rest if there is a daily close over 1.3900.
There's a fair amount of gloomy talk, but few drops of blood, let alone rivers of blood, in the streets.
I'd say there's a long, hard fall ahead.
The bottom is already in. Go ahead and take the profit. FX is all about pros hustling Long and then hustling Short; it's not rational; it's not transparent. It doesn't make any sense to let the market take profit back before you close out. The market not's going away; iti'll still be around next week.
fossil. he should be out shopping for nursing homes and funeral plots instead of telling young people how to invest.
don't be so hard on him he gave the world the heads up on curve steepeners back in early 08
I and an hundred thousand other bloggers gave the world a heads up about the housing bubble in 2005. A fat lot of good that did.
Pray he lives, atleast to attend Euro's funeral.
EL Er said just about the same think in his alarmist Pimpcoish way earlier on BBrg
http://www.bloomberg.com/news/2011-09-13/europe-getting-close-to-banking...
of course they have a paywall so you can't hear the interview
but I will try and summarize as best I can (no guarantee for accuracy)
EL " we are on the verge of a financial melt down in Europe"
Tom "what can be done"
El "it's totally up to the policy makers"
Tom "we're screwed"
El "is there an ATM near by?"
there's a way around those paywalls -
just cut and paste the article headline into Google and you get unrestricted access
problem is it's audio
how dare she ask what kind of profit can be made out of whats going on. didn't she even listen to him. what kind of reality have we accepted. 90% of us are being taken for suckers.
I DEMAND AN OVER THROW
FBI is waiting for French Bank wire transfer to clear and a free Domino's pizza order delivery.
The battle of the Billionaires is joined!!!!!!!!!!
I thought Greece would default in my "target zone" of 18-19 %! Today the Grk 10 year is over 24%! and still climbing and not yet defaulted.. officially anyway.
Now when it does go .. the entire EU is going with it incredible. I thought they would contain/cutoff that Gerek biatch.. it must have been too far gone to do anything.
Where did Can-ada buy its soul: where did USA forget?
One act of terrorism in USA starts a storm: 30 years of USA funded terrorism in the UK/EU is not worth a mention: and USA people provided the funds, the arms and the advanced technologies - to kill British women and children while they were shopping!
Not an issue (really)!
Britain = a horrible place for Americans (even the original ones): free support, free health, free education, free medical: How can that country torture so many people!
USA = shoot on sight, wet-back policy, die or pay, born ignorant so stay ignorant, suffer, suffer! As for toture - we train our young soldiers to piss on anyone who thinks we are not Rambo!
USA: you had your day, now go away (you own the moon - move there)!!
Sniffing Glue only kills the Weak brains cells!
Belivieving USA movies is not a brain cell worth!
This was censored by Yahoo everytime I posted....what is harmful in the below statements.
The Fed...our markets and currency have become dependent on 1 man?
The Federal Reserve is a Private Bank supported by a federation of other banks.
BIS: Bank of International Settlements (The Central Bankers Bank)
ECB - European Central Bank
BOE - Bank of England
BOJ - Bank of Japan
PBOC - People's (laugh) Bank Of China
The Federal Reserve Bank
bis.org/about/board.htm
If this doesn't tell you the Global Banking Cartel is in charge of our governments nothing will.
Ooops...I hear helicopters...got to go...
I suspect you are young: 100 years of 'truth-sayers' has changed nothing!
.
You are simply not listening: Germany lost the battle and has since won the war: with our aid!
Liberal thinkers should be shot on sight!
Not for skins - they are worthless full and empty: just for the pleasure of it!
Kill a liberal a day, keep 'wooly thinking' away!
Actually - rape the wife of a liberal, then demand payment: that seems like fair play!
They all turn into nio-facists: with no weapon! Liberal or what!
Banking services for central banks
The BIS offers a wide range of financial services specifically designed to assist central banks and other official monetary institutions in the management of their foreign exchange reserves. Some 140 customers, including various international financial institutions, currently make use of these services and on average, over the last few years, some 4% of global foreign exchange reserves have been invested by central banks with the BIS. BIS financial services are provided out of two linked trading rooms: one at its Basel head office and one at its office in Hong Kong SAR.
The Bank continually adapts its product range in order to respond more effectively to the evolving needs of central banks. Besides standard services such as sight/notice accounts and fixed-term deposits, the Bank has developed a range of more sophisticated financial products which central banks can actively trade with the BIS to increase the return on their foreign assets. The Bank also transacts foreign exchange and gold on behalf of its customers.
In addition, the BIS offers a range of asset management services in sovereign securities or high-grade assets. These may be either a specific portfolio mandate negotiated between the BIS and a central bank or an open-end fund structure - the BIS Investment Pool (BISIP) - allowing customers to invest in a common pool of assets. The two Asian Bond Funds (ABF1 and ABF2) are administered by the BIS under the BISIP umbrella: ABF1 is managed by the BIS and ABF2 by a group of external fund managers.
The BIS extends short-term credits to central banks, usually on a collateralised basis. From time to time, the BIS also coordinates emergency short-term lending to countries in financial crisis. In these circumstances, the BIS advances funds on behalf of, and with the backing and guarantee of, a group of supporting central banks.
The Bank's Statutes do not allow the Bank to open current accounts in the name of, or make advances to, governments. The BIS does not accept deposits from, or generally provide financial services to, private individuals or corporate entities.
My daughter was intent on studying in Scotland until I explained their Socialist education system, UK and Sct residents atend for next to nothing but Americans have the opportunity to pay 1000 x the UK rate @ 30000 pr yr.. Socialism is always looking for a deep pocket. I thought the school to be interesting but wasnt impressed with it at all. I gently advised go for the summer and see the socialists like everyone else does.
Well it's a good thing.. A little humor for you begins @ 2.97m. I can poke fun at my nationality, enjoy the humor. The progressive Government wants your daughter around many sheep or cows, because the medical field will be able to validate job security . LOL
Alan Partridge on Farming
Still working on the Danville train Virgil?
i caught that Hulk.
http://www.youtube.com/watch?v=-VShpcqd3zE
I'm partial to Joan Baez's version, though I think she may have gotten the words wrong...
http://www.youtube.com/watch?v=nnS9M03F-fA
You know what?
Here we have the bright and the articulate around here who instead of learning and getting ideas from people who have ruled the fucking world you would rather flame the guy who has invested in times of duress just like today and made a fortune.
It shows what a sad sack of shit the average idiot around here is. If you don;t like to learn what the fuck are you doing here? Fucking Trolls. Day in day out you drone on.
Get out of your fucking momma's basement and get a job ya fucking idiots.
He's a billionaire because he was fucking smart and lucky.
Unlike you smartphone addled fuckheads who flame every commentator here.
You deserve the buttfuck you're gonna get.
You sound upset?
The United States needs a presidential candidate with the guts to say this.
Mogul Fucker, I mean Rider-
You sound like every other upper middle class upper middle manager I've dealt with the last 10 years- you think tomorrow is going to be similar to today. You have no vision, no concept, of the future discontinuities that we face. Thank God I listened to Ron Paul after 9/11 and bought a LOT of gold at +/- $300/oz, and even though I kicked myself a few times as I watched the condos and houses I thought about investing in go up in value, I never sold out- and then in 2008 my gut turned out to be right. The money I've made off that gold is worth far more than the massive losses I would have taken on those real estate bets.
Robertson made money yesterday, and some of his ideas for tomorrow are good, but he's a blind fool when it comes to the hundreds of black swans that are circling the current financial system.
They should be renamed black vultures, because they are going to pick the carcass of people like you clean to the bone.
The onset of a weak banking sector in Canada means the likely collapse of the housing asset price bubble, which also means that banks will be hastily writing off their long-standing sell-side bets on gold mining companies since the crash of Bre-X.
So, you have an appreciating $CDN against the $U.S., a credit crunch and the buy-back of all of those hundreds of milions of shares in gold mining companies in business since before 1997(Bre-X) sold into the market without actually owning any, I would say this is a lay-up for a mining bull market. So the catalyst for gold mining companies, at least in North America will be the retreat of the banking sector from the playing field.
Nice article from seeking Alpha on the rebalancing of GDXJ, you can get a very choice list of mining juniors:
http://seekingalpha.com/article/293249-reacting-to-a-rebalancing-of-junior-gold-miners-etf?source=yahoo
Absolute Bollox - Mit Romney ? Jesus H Christ.
Delusional .... and Apple - How the Fuck is Apple going to save the world.
God - where has the old America disappeared to ?
www.youtube.com/watch?v=tAjmoHDTEoA
The old America: yes something we can all mourn. The economic and political system has passed on.
With record poverty levels, record real unemployment, real wages back to 1968 levels.
It's all very tenuously held together now. So tenuous that the whole thing could blow up in a minute and either devolve into cycles of violence, rebellion and crime or go straight to fascism to protect the wealth of the elites at the expense of everyone else's wealth and freedoms.
America choked on it's own hubris and prosperity, something that was never supposed to happen
It just never could get over peak oil - understanable I guess , when you build technological capital without austerity and then require austerity to sustain these capital projects - politics comes in to take the pain away ........... for a while.
It just never could get over peak oil - understanable I guess , when you build technological capital without austerity and then require austerity to sustain these capital projects - politics comes in to take the pain away ........... for a while.
WHat did Hungary do to deserve getting destroyed, bitchez?
Nothing. Awsome place.
Who wants to destroy Hungary?
Canadians are deluded and a government run PR machine has worked tirelessly to pull the wool over everyone's eyes. Quite a myth they have created about sound banking and financial health here in the great white north.
http://www.theeconomicanalyst.com/content/leading-indicators-point-slowd...
One foot in the grave!
Canada is a well run country...?????
Ya O.K. ....Fucking dolt.
It's ran by Steven USA Harper.
Scooby doo
How bout this one
Drunk moose stuck in apple tree..... LOL
http://www.ktvz.com/news/29122322/detail.html
On another note I have some ass wipe Dr following me on twitter that claims he can commercially manufacture Silver for $1 an oz....skeptical...I went to his website and he had Stephen Hawking's name misspelled....so now Im sure he can make silver so my $19.95 is in the mail for his how to book!!!
http://drjoechampion.com/
Hey mogal rider...
Fuck you you piece of moldy shit.
Delusional Fuck Tard.
He was being nice to the financials by saying "I don't pay much attention to that sector" instead of "The U.S. banks are just as insolvent as the European banks."
He payed for a young blood that will do as told!
That is obvious from his own words!
Rapid rise in interest rates huh? Would that be our efficient markets backing up rates to where they should be given our reckless spending? Or is there the possibility that the Treasury market is a bit rigged on the short, middle and long end these days? What do you think would happen if the long bond went over its historical average of 6%? Well, thats not really a question at all, we'd simply join those who are about to end up in the soverign debt graveyard which of course is where we are going to end up eventually anyway...
<dupe comment>
Who cares about the successes of a smart guy who knew how to grow, prosper - even thrive in a world existing on credit and fractional reserve banking - which will at the very least eiter cease or be radically altered by a world endebted by dozens even hundred of trillions of dollars worth of interlaced and interwoven derivatives. This fancy debt will have to be forgiven because it'll never be paid back, it can't be paid back. This alone guarantees a new world order because the debt holders - insurance companies, trusts, sovereigns,pensions, whatever and whoever is still counting on eight percent returns (sounds sorta funny now). Skills, pm's, relationships - community, etc. are what will matter. We'll just start fresh with a new batch of tolerable asshole leaders who are corruptable.
The downsizing of America continues unabated
Say's he got hammered shorting bonds lol, and still thinks there is risk that foreigners will sell treasuries forcing interest rates abruptly up. He said it is hard to imagine the end of the world but does believe there is risk.
Tyler, please add functionality so when you click the avatar, it expands to full screen.
F*ck EZ and the US for the time being. Looking at Asian now re: China inflation beatdown and potential crash. Asian markets looking crappy again.
Santa rally = yes or no?
Best case is weak. Real case is No!
Now that is a statement you can cook my meat-balls on, with red sauce!
Is there one of you that can play with me - without hedging?
Come on little girls: the bet is not with me - mine is in: so show your dirty knickers!
Bye bye baby, bye bye (before New Year)!
From 1968, the north face sale shop became known as north face brand from a little shop, at that tiem the north face sale store retails high-performance climbing and backpacking equipment.
Europe is the future
America is fucked
it's a cruel world...;)
Warmly welcome you to my true religion jeans on sale online store to purchase cheap true religion jeans in excellent detail designs.
"In a moment of clarity" ha ha, nice one.
Now is the best time of year to buy cheap true religion jeans from true religion outlet shop or true religion sale online store,they are offering the best price for you now.
The collapse in Greece is starting with a popular refusal to pay all government fees and taxes, in responce to which the Greek government has imposed a 4 euro/sq. meter tax on floorspace in all buildings: these extreme measures on both sides have to signal the beginning of a Greek financial breakdown that cannot be remedied with ongoing rescue advances by euro troika fiat sources, and I have the popcorn and drinks ready for when the action starts:
http://www.shtfplan.com/headline-news/warning-for-americans-be-safe-and-stay-alert-its-coming_09132011
Oh, I just love the mitt romney too, and also obviously fake tits, overly botoxed middle aged women, 90's pontiac grand ams, mcgriddles and cheese puffs.
How do all of you " Regular Posters " find the time? I have new species to discover.
J Rob has been going broke on steepeners for years. Ultimately he ain't nothing but another kleptokeynesian
Filing this in my "No Shit" file from some old white guy telling me/ us what I/we already know.
Europe In State Of Financial Collapse
Ditto for America.
The problem in both cases is staggering sovereign debt with staggering currency printing to keep rolling it over and allow more debt PLUS even more currency printing to bail out this huge bank and that huge bank in successive waves of bailouts, one after another.
We're approaching the end of the can-kicking. The Euro is close to currency collapse and the US dollar isn't far behind, while creditor nations (like China) get more and more pissed off watching the value of their Forex holdings dropping.
I'm particularly concerned about China. China's leaders may be just as corrupt as America's leaders, but they're in a position to damage America pretty severely if they were to say "enough" and decide to retaliate against America's criminal banking cabal, not to mention America meddling in Iran, China's 3rd biggest oil supplier.
This may be a contrarian view, even a crazy view, but I believe China may well stop Europe's and America's can kicking ...the hard way ...the painful way.
You brought the " Sunday Gap" back! Yaaaa!!!!
China is the big unknown. It is in precarious shape- trillions wasted on "structural improvements" that are unused (the ghost cities) and infrastructure that is fundamentally unsound (the high speed rails and dams) and a big shock could crash them faster than the US/EU- whereas we have a semi-free market, they are 90% command/control and cannot adjust fast enough to any big systemic shocks. A TBill dump (unlikely, but more possible each day) or massive US/EU mega-recession (already here, just artificially held at bay) will hurt them as much as us.
The whole world is tied together in one big Marxist/Keynesian fiscal knot, and when it frays, the repercussions will be swift, worldwide, and epic.
Ragnarok?
America is fucked and here is why:
Bernanke has run out of options. The only hope left for the failed 200 year experiment of what is called the United States of America, the only hope left is for the debased Reserve US Dollar to devalue even further and hope and prey and pray that Interest Rates stay always at Zero. There are NO more other options left for America. It is an endless game of 'beggar thy Neighbour' in the hope that the rest of the world will pay for the excesses of a debt ridden America, that spend US 15 trillion on two failed wars in Iraq and Afghanistan and megalomanic dreams of world domination ever since WWI.
A multi-cultural Europe is the future, it is the only answer to the crumbling fascist Empires and their depleted, exploited and dehumanized slave-labour colonies. England and America are the last remains of the crumbling British Empire, still trying to hold on to world domination against all hope even in the face of total cultural and economic failure.
the more England and America are fighting a united Europe, the more irrelevant and isolated they will become.
A multi-cultural Europe is the future.
wr;)
Good luck supporting your man Mitt there...Tiger.
Rabobank CEO Bert Bruggink: “ The question whether Greece goes bankrupt, is now over. The question is only when.”
Rabobank CEO: Greece goes bankrupt , 13 September 2011, (AD) (google trans from Dutch) http://tinyurl.com/6atrbny