• Pivotfarm
    08/03/2015 - 15:25
    The quest for perfection is man’s unattainable goal. Man can never be perfect if we are to believe the English philosopher Thomas Hobbes. Man is man’s wolf and all of that.

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Tyler Durden's picture

The Shocking 2008 AIG Report On "Empire Europe" And The Death Of Greece





"What Europe Wants" - to use global issues as excuses to extend its power:

  • environmental issues: increase control over member countries; advance idea of global governance
  • terrorism: use excuse for greater control over police and judicial issues; increase extent of surveillance
  • global financial crisis: kill two birds (free market; Anglo-Saxon economies) with one stone (Europe-wide regulator; attempts at global financial governance)
  • EMU: create a crisis to force introduction of “European economic government”
 
Tyler Durden's picture

Auto Loan Rejection Rate Falls To Lowest Level On Record





Amid record auto loan ABS issuance, record loan terms, and record high average payments, it's no secret that the market for auto loans in the US has become dangerously stretched. Now, the NY Fed is out with what is perhaps the most shocking statistic yet on just how "darn easy" it is to get a car loan

 
Tyler Durden's picture

Greece's New German Overlords "Irritated" By Tsipras "I Don't Support What I'm Doing" Comment





Comments by Greek Prime Minister Alexis Tsipras on Tuesday evening undermined trust that Greek govt will take ownership of economic adjustments in new bailout program, German Deputy Finance Minister Jens Spahn says on ARD public television. Spahn is a member of Chancellor Angela Merkel’s CDU party.  “What the Greek prime minister did on Greek television yesterday irritates me."

 
Tyler Durden's picture

UK Furious At Proposed €7 Billion Greek Ponzi-Perpetuating Bridge Loan





The EU Commission has submitted a formal request to tap the mothballed EFSM for a bridge loan to Greece. The UK may look to block the proposal, but fortunately, Europe has a creative "soultion". 

 
Tyler Durden's picture

"Everybody Benefits By Avoiding Defaults": Citi Explains How To Goalseek Student Loan ABS Ratings





Moody's and Fitch are taking a hard look at student loan-backed ABS and they don't necessarily like what they see. Fortunately, Citi has some pointers on how the ratings agencies might go about avoiding downgrades.

 
Tyler Durden's picture

Greece Just Gave Everyone The Best Trade Opportunity Of The Year





At an annualized return of approximately 20,622,184,553,370,800,000,000,000,000,000,000,000,000,000%, Greece just gave everyone the best trade opportunity of the year...

 
Tyler Durden's picture

Tsipras Interviewed, Sticks Foot In Mouth: "I Signed A Deal I Do Not Believe In But Am Willing To Implement"





GREEK PM TSIPRAS SAYS I SIGNED I DEAL I DO NOT BELIEVE IN BUT I'M WILLING TO IMPLEMENT AND WILL ASSUME RESPONSIBILITIES

 
Tyler Durden's picture

Greek Debt/GDP: 336% By 2025





Several days ago when we first calculated that the new Greek debt/GDP post bailout #3 will promptly hit 200%, something the IMF agreed with earlier today. But it won't stop here, and as the  following analysis from Michael Lebowitz at 720 Global shows, just based on the country's negative growth rate and positive interest rate, Greek debt/GDP will keep rising indefinitely and will likely hit 336% in about one decade, at which point Greece will, for all intents and purposes, cease to exist.

 
Tyler Durden's picture

Complete Humiliation: Greek Parliament Pressed To "Approve" German "Coup"





In the final act of what has become a modern Greek tragedy, lawmakers will now be forced to choose between "approving" what is effectively a German overthrow of the Greek government, or face the collapse of the banking system and an economic depression of unimaginable propotions. 

 
Tyler Durden's picture

David Einhorn Says Varoufakis "Must Not Be Familiar With The Tyler Durden School Of Negotiation"





"Mr. Varoufakis, who kept reminding everyone that he is a professor of game theory, believed that the European leaders would prefer to make concessions now rather than manage the disruption of a Greek default. He must not be familiar with the Tyler Durden school of negotiation: the first rule of using game theory is you do not talk about using game theory. What’s more obvious is that Syriza didn’t understand what the game is."

 
Phoenix Capital Research's picture

Is the Dollar Signaling Another 2008-Type Autumn is Coming?





The whole thing feels a bit like the summer of 2008 all over. Once again, the global economy is weakening, a significant crisis has erupted, and temporary solutions to said crisis are being hailed as a success.

 
Tyler Durden's picture

German Production Is A Facade Built On Bad Loans...





Similar to the US banks who funded home owners that shouldn’t have received mortgages and made a fortune doing so – at least initially, the Germans funded the periphery nations in an effort to drive output growth domestically. However, financing a large portion of ones’ customer purchases is a high risk endeavour. And the Germans are in the midst of this hard lesson.

 
Tyler Durden's picture

Why Did Schauble Almost Use The "Nuclear Option" - Tim Geithner Explains





"The idea was that with Greece out, Germany would be more likely to provide the financial support the eurozone needed because the German people would no longer perceive aid to Europe as a bailout for the Greeks. At the same time, a Grexit would be traumatic enough that it would help scare the rest of Europe into giving up more sovereignty to a stronger banking and fiscal union."

 
Tyler Durden's picture

Argentina As A Model For Greece





"I think that if Greece were to leave the Euro things would get very complicated for them... and this would create the same very unhealthy situation as we have in Argentina. Why? If people start storing value in a foreign currency, in this case Greeks using Euros, this will create a huge lack of transparency and affect normal trade flows and transactions. And we know that the parallel economy in Greece is already quite large the way it is. So imagine an exponential version of that. It would be a very difficult period for Greece."

 
Tyler Durden's picture

Yanis Varoufakis: "Merkel's Control Over The Eurogroup Is Absolute, They Are Beyond The Law"





The new Greek deal is "absolutely impossible, totally non-viable and toxic …[they were] the kind of proposals you present to another side when you don’t want an agreement." Speaking with The New Statesman, former Greek FinMin Yanis Varoufakis blasts Wolfgang Schaeuble's position which will lead to "a humanitarian crisis" for Greece and warns, regarding this latest creditors' proposal, "if anything it will be worse [for the Greeks]." His conclusion is succinct, "we were set up...," Merkel and Schäuble’s control over the Eurogroup is absolute, and that the group itself is beyond the law.

 
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