Move Over the Republics of Europe, Your New Masters are…..
Bankers. Not your elected leaders!
NY Times:
ROME — A day after accepting the resignation of Prime Minister Silvio Berlusconi, Italy’s president on Sunday asked Mario Monti, a former European Commissioner, to form a government charged with helping defend Italy from Europe’s sovereign debt crisis.
President Giorgio Napolitano formally tapped Mr. Monti on Sunday evening after a day [...]
From the (THINGS THAT MAKE YOU GO Hmmm) article linked via Scribd. Other than saying this is exactly what I was saying on my show on Friday (Oct 28 — Telugu podcast will follow), no further commentary needed:
With the carefully-orchestrated way in which the word ‘voluntary’ was unceremoniously shoehorned in front of the word ‘haircut’ [...]
The Telegraph: Eurozone summit – despair and backbiting in the corridors of power
October 23, 2011 Comments Off
In case if you were betting that Europe will be fixed over the weekend… the headline says it all. Friday’s “breakout” in stocks could be a head-fake. Via Telegraph.
Just when the eurozone governments thought it could not get worse for Europe’s single currency, it did.
Shell-shocked EU finance ministers meeting in Brussels on Saturday were already [...]
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The picture above shows today’s Credit Default Swap spreads of the sovereign debt of PIIGS (Portugal, Italy, Ireland, Greece and Spain) countries. It means that the interest rate spread OVER the comparable Treasuries is 1737 basis points. Or, full 17% higher than the Treasuries. It means that it is virtually certain one of the countries [...]
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Stock markets around the world have new fuel for rally: rumors. There is a rumor every minute.
Yesterday: “China to buy Italian bonds.” Not true. But, market rallied for over 100 DOW points in 5 min.
Today: “French President and Greek PM are to “talk.” But markets bolted higher.
Late today: Brazil to the rescue of European debt [...]
On Friday, Aug 5 2011 at 8:01 PM when all financial markets (ex ForEx) in all western countries have closed for trading, Standard and Poor’s downgraded US Debt. Via Bloomberg:
S&P lowered the U.S. one level to AA+ while keeping the outlook at “negative” as it becomes less confident Congress will end Bush-era tax cuts or [...]
Sorry to spoil your morning. CNBC’s Larry Kudlow tweeted this last night. Bank runs in Italy. This cannot be good.
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Short-Term Yields Going Negative
In simple English, it means that you have to PAY THE BANK TO KEEP YOUR money. This kind of imbalance happens in extreme panic situations.Via Zero Hedge:
The stunner in this morning’s newsflow (the long, long overdue market collapse which is a much needed catalyst for QE3 should not surprise anyone), comes out [...]
Carl Bernstein — the Washington Post investigative journalist who (along with Bob Woodward) exposed Nixon’s 3rd rate burglary and break-in of Watergate weighs in on Murdoch’s News of the World hacking scandal. He doesn’t mince any words.
Visit msnbc.com for breaking news, world news, and news about the economy
Once again, Jon Stewart gives Fix News taste of their Own Medicine on his Jul 19th show. Cal Thomas on Fox: “The biggest case of piling on since the last rugby game I saw.” Jon picked from that moment and pounced. Jon contrasted Fox’s hysteric coverage of a comment made by NPR executive to virtual [...]
Continue reading …“Ireland is Not Greece, Portugal” Never Believe a Rumor Until it is Officially Denied Edition
June 23, 2011 Comments Off
The caption on an official T-shirt to be printed by Ireland, “Ireland is Not Greece, Portugal” says it all. I for one confirm a rumor as true when it is officially denied. Thanks to Zero Hedge.. this is definitely “The Onion” material.
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John Isner of USA finally won the longest match in tennis history, which lasted for 3 days. The American hit a backhand winner to win the last of the match’s 980 points, and he took the fifth set Thursday against Nicolas Mahut, 70-68.
The first-round match took 11 hours, 5 minutes over three [...]
Today (May 20, 2010) on Wall Street
The pounding continues in Asia (9:08 PM, May 20, 2010)
What is going on? Sovereign debt crisis, leading to disintegrating Euro, leading to major currency crisis. More on this on Friday, May 21st MMGL.
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