Citi Chief Economist Willem Buiter: A Spanish Or Italian Default Could Happen In A Few Short Days

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Wed, 11/16/2011 - 16:32 | 1884094 mayhem_korner
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Italian Bonds = muffin stumps; ECB = Newman

Wed, 11/16/2011 - 16:35 | 1884115 BaBaBouy
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Anyone Know What Pellossi's trades are today ???

Wed, 11/16/2011 - 16:39 | 1884151 Hedgetard55
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She went long on BOTOX.

Wed, 11/16/2011 - 17:23 | 1884442 redpill
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Germans are known for being logical and calculating.  Great engineers and craftsmen.  However, if you piss them off a little bit too much it's like you flip a switch, and suddenly that skill and ability is used in aggression, and you're left with a rabid, fire-breathing Germanic horde trampling down everything in its way with Rammstein blaring in the background.  The last time this happened was when David Hasslehoff cancelled a concert.  Let's just say it got ugly.

Good luck, Angela.

Wed, 11/16/2011 - 17:44 | 1884615 allocater
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This time we will let Poland in peace. The Panzers will roll south and take out Switzerland and Liechtenstein. The Luftwaffe will take care of Monaco and Andorra.

Wed, 11/16/2011 - 18:07 | 1884765 unky
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The German army is a joke

Wed, 11/16/2011 - 18:12 | 1884778 redpill
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--Belgium, May 1, 1940 

Wed, 11/16/2011 - 21:43 | 1885417 Harlequin001
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Wed, 11/16/2011 - 21:40 | 1885424 Harlequin001
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'will temporarily transfer a significant amount of fiscal sovereignty to some super-national body, but then when they get restored to health,' - by selling tickets for rides on magic unicorns one presumes...

It's always the weak point in the plan, how they "just get fixed'...

Thu, 11/17/2011 - 02:24 | 1885919 jeff montanye
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good point.  another possibility is german withdrawal from the euro, instituting of a new dm for german use, converting german euro debt to dm, inflating euro debt "away" without extracting fiscal resources from germany, and, possibly, having germany rejoin the euro zone at some "future time".  please see

Wed, 11/16/2011 - 23:13 | 1885614 LeonardoFibonacci
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sorry blue haired girl, you got that totally wrong!

Wed, 11/16/2011 - 18:18 | 1884805 cossack55
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No!!! Not Andorra!!!! Where would one get cheap Cubans if not Andorra!!!!

Wed, 11/16/2011 - 18:17 | 1884801 eatthebanksters
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I heard she's taking massive doses of estrogen to keep her balls from growing back...

Wed, 11/16/2011 - 21:29 | 1885404 Pondmaster
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....and implants , chest and butt ones

Wed, 11/16/2011 - 23:23 | 1885631 Ted K
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Personally I think I would short the particular BOTOX maker she uses.  She got the Al Pacino thing where her lips are now 2 feet from her nose.  I wonder when it's going to dawn on these idiots 6 months of good looks for the rest of your life as a zombie isn't a good trade off.

I'm a Democrat, and that's one thing I have to concede to Republicans---Pelosi is the ultimate hypocritical BITCH.  God help us if she's supposed to protect the middle class from the 1%.

Wed, 11/16/2011 - 16:48 | 1884209 sabra1
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Dildos and extra batteries! you don't want those batteries to die when you ain't finished! janet napolitano learned it the hard way!!!

Wed, 11/16/2011 - 16:53 | 1884228 gatorengineer
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Short on BRAIN I thought?

Wed, 11/16/2011 - 17:05 | 1884330 Robot Traders Mom
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Anal beads

Wed, 11/16/2011 - 18:09 | 1884770 Mugatu
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His comment:

"No, I think to pursue competitiveness policies by manipulating or steering down the nominal values of the exchange rate is a loser's game. " 

If this is true, how come the chinese have been doing it for years?  It has not been a loser's game for them.

Wed, 11/16/2011 - 19:26 | 1885076 BigJim
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It has been a loser's game - for Chinese workers who would have seen the purchasing power of their wages appreciate along with the Yuan if their government hadn't been suppressing their currency.

Thu, 11/17/2011 - 01:23 | 1885827 ub40onlyonce
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She traded her vagina in for a Mao Tse Tung

Wed, 11/16/2011 - 16:37 | 1884134 GeneMarchbanks
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What are Spanish bonds in that case? TurKramer?

Wed, 11/16/2011 - 16:43 | 1884180 mayhem_korner
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I was thinking of merging Spanish and Italian into a single word, but didn't want to give up the shot at the pole position. 

Wed, 11/16/2011 - 16:53 | 1884234 GeneMarchbanks
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SPITalian has a nice ring to it, no?

Wed, 11/16/2011 - 17:25 | 1884500 CrazyCooter
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Oh, how about SH (SpanisH) and IT (ITalian).



Wed, 11/16/2011 - 17:30 | 1884540 arizona11912
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EURO BONDS will be the catch phrase on ZH. Just watch. Euro bonds cant be implemented unless there's sheer panic in Europe. I'm selling pre-order Euro bonds. Come on China and Japan, I know you want in on some of this action.

Wed, 11/16/2011 - 17:30 | 1884541 arizona11912
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EURO BONDS will be the catch phrase on ZH. Just watch. Euro bonds cant be implemented unless there's sheer panic in Europe. I'm selling pre-order Euro bonds. Come on China and Japan, I know you want in on some of this action.

Wed, 11/16/2011 - 18:18 | 1884804 vast-dom
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Got Default?

No Fucking Shit!


Wed, 11/16/2011 - 16:32 | 1884097 Comay Mierda
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Wed, 11/16/2011 - 16:36 | 1884122 Hedgetard55
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Waterfall in all the bankster stocks!

Wed, 11/16/2011 - 16:45 | 1884190 Comay Mierda
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quick someone get cramer to start pumping!

Wed, 11/16/2011 - 16:54 | 1884244 DoChenRollingBearing
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Another $500 comes out of the ATM on my way home today.

Wed, 11/16/2011 - 17:36 | 1884582 viahj
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thanks for the reminder

Wed, 11/16/2011 - 16:47 | 1884204 WonderDawg
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Late day sell off, Dow just tanked 100 points in minutes...

Wed, 11/16/2011 - 16:56 | 1884252 GeneMarchbanks
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FlashSmash. Sovereign downgrade imminent?

Wed, 11/16/2011 - 16:50 | 1884215 bartek
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Give us 3 trillion or the world will end and half of population will die.
Yea, right
Scumbags wailing for their $5 million Christmas bonuses

Wed, 11/16/2011 - 16:33 | 1884100 MassDecep
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The sky is falling, the sky is falling. Bet ya, they don't default!

Print the money!

Wed, 11/16/2011 - 16:36 | 1884123 SheepDog-One
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Dont look to bet me, bet in the market! May I suggest all-in on 00 black? Good of a bet as anything else....go bet!

Wed, 11/16/2011 - 16:33 | 1884103 SheepDog-One
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Noooooooo! Not when everything was just going so great and the FED's just came out and said theyre 'bout to print more and hand it to ECB and banks and all is well arrrrgghhhhhhhhh!!!

Wed, 11/16/2011 - 16:34 | 1884105 J 457
J 457's picture

BAC @ $5.96.

Wed, 11/16/2011 - 16:34 | 1884110 Hedgetard55
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Buiter = one more worker bee in the bankster hive. Fuck him.

Wed, 11/16/2011 - 16:54 | 1884239 Lord Welligton
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No mention that Greece and Italy cannot compete within the Eurozone.

Just take your medicine for 10 years like good boys and girls.

Then we, Citi and Friends, will own the very ground you walk on.

Wed, 11/16/2011 - 17:58 | 1884710 Calmyourself
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That is pretty much it isn't it.  France, Italy and the rest we loaned you money we never had and now you can buckle down and slave away to enrich the banker class in perpetuity.  Ohh and the CB's will print to make us whole forever, MMMMhhhhaaa, evil laugh..

Thu, 11/17/2011 - 01:40 | 1885868 Elorant
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Of course they can compete. Besides machines you have to eat something. Try eating a tomato from Germany and one from Greece and then you'll know. The problem with Greeks is that they lack the marketing to export their products.

Wed, 11/16/2011 - 16:34 | 1884113 homersimpson
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FAZ it up! *w00t*

Wed, 11/16/2011 - 16:34 | 1884114 SheepDog-One
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'Why hasnt the ECB 'acted' yet'...

Well thats all the ECB and FED does! ACT! As in a fucking puppet show! Phony actors!

Wed, 11/16/2011 - 16:35 | 1884117 SDRII
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Buiter speaks with forked tongue. This is the same pink paper prodigy who never missed a chance to bang the barbaric relic meme. His proposals included a thought exercise to impose negative interest rates by destroying random serial number currency. First rate shill who should be applauded only for his ability to add.

Wed, 11/16/2011 - 16:59 | 1884200 sitenine
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Agreed. This dipshit sounds like Krugman. EFSF 3 trillion how?! The ECB should start printing?! If this is success, we should PRAY for failure! Debt is not an asset when you're the one that owes, and debt is not an asset when your debtor can't pay. Don't know how to say it any simpler than that.

Thu, 11/17/2011 - 03:59 | 1885993 zhandax
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Let's elaborate on that a bit more.... how do you like this quote, "No for several reasons.  First of all, AIG happened and everybody learned from it. Whereas the sovereign CDS, the regulators by and large know who wrote it, who issued it and who holds it. "

The ECB may know who in Europe wrote, issued, and holds it, but do they even care who in the US wrote, issued, and holds it?  Not their problem, perhaps?  Perhaps they think that surely the US regulators will stop watching tranny porn long enough to do something before TSHTF.  Perhaps they know that the US banks will take the hit and uncle sugar will pull another Hammerin' Hank bailout.  Only thing is, Hammerin' Hank is out to pasture and lil' timmay ain't gonna get the job done this time around.  Congress decided in '08 that they would rather face the wrath of the voters than the wrath of Hank.  timmay seems to lack that same gift for suasion.  When TSHTF, everyone wants to believe that their uncle is rich.

Wed, 11/16/2011 - 16:35 | 1884118 partimer1
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Ray dalio, the hard-head truth-seeker told you this long time ago. default will happen, and once it happens, it cannot be stopped easily. Reality works in certain way. This is not Larry Summer's tomorrow is beeter than today shit. If you don't have the money to pay the bill today, you are in default. its just that simple.

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