Let’s be realistic here. Germany represents just 27% of the EU GDP. Moreover, Italy and Spain represents a combined 29% of EU GDP. So, please tell me, how in the world do you expect the Germans to bail them out? Mathematically, it is impossible.
The only way out, sadly enough, is to print euros and legalize accounting fraud, just like we did in America. Here in America, our banks are allowed to lie about their balance sheets and our Fed are serial money printers, of the worst kind. Eventually, the chickens will come home to roost. This is bullshit, all of it.
The only thing I intend on buying is EXK, but not now. I am hoping for lower prices, in order to position myself for a November surge.
Just know this, whatever deal concocted out of Europe will be fallacious. Anything short of default is legalized accounting fraud. They are asking for a “voluntary” 50% haircut from Greek bond holders in order to prevent CDS from triggering. Tell me, how the fuck is that possible?
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Shenanigans; Making things possible since 6000bc.
Love it!
“The music has stopped .. I hear nothing.. “
Was it over when the Germans bombed Pearl Harbor?
go watch the movie Margin Call
I am sensing Merlin is looking for an appearance today.
Anybody shorting GMCR into earnings? I am seriously thinking of buying a few Putz here (very very small position).
Then again, I might be playing with pin less grenades…look at FSLR.
When I read your message, all I see is small putz. They call you Big Mike?
I hear your rage and agree with it…I am an American living over here in old Europe…Nobody, except me, seems overly concerned by any of his amongst my friends….The math does NOT add up..
Decades of socialism in Euro land has left most of the inhabitants nothing more than mindless zombies who never ask, “what if” or, “how come”…..
Fly, I understand your PM thesis, but why not just buy dollars? Both should do well if Europe decides to either inflate or deflate, but if we enter vapor lock mode circa 2008, dollars should hold up better.
Or, are you trying to stay away from the mighty Bernanke’s pimp hand and think the printing presses could still start up over here?
I have 10% of my assets in TLT. That is dollars with a dividend.
Thanks
just like we did here America LMBO
The answer is quality, not mere quantity Fly.
With lots of admiration for the use of products from throughout Europe, it’s the equipment, the technological sophistication requisite pre-manufacture shipping (i.e. to the east for production), that Germany produces that results in the current state of affairs.
So it may seem unfair, but it’s sort of like saying my car gets 27 mpg and yours 25 mpg. But my car has superior detail and technology, whilst yours is of a mediocre level.
Both cars can travel from point A to B.
You are right, Fly. Most people don’t want to learn to do math, because they would have to face the fact that they can’t have their cake and eat it too.
Politicians, banks, lots of powerful folks, get their power by telling folks what they want to hear– but it’s all lies. And people’s smiles disappear when it all inevitably blows up in their faces.
cake sounds great.
http://opinion.financialpost.com/2011/10/25/peter-foster-europe%E2%80%99s-systemic-irresponsibility/
The only solution is a united europe under one fiscal authority.
Anything else is just noise.
That’s true that that would solve the problem if it were possible to do it.
But these countries have nothing in common fiscally. So there is no basis for them to do this.
EU is a retarded idea, a fantasy. Uniting for common interests is a good idea. But these countries don’t have enough common interests for them to become that involved with one another and dependent on one another.
exactly.
the only way it may happen is when the pain hits Germany (and they can take a lot)until then all bets are off.
when the united europe is created Germany will have the biggest say at the table.
never happen
So this recent rally, is it not really mm’s running to beat benchmarks but rather, foreign money realizing the US equities are the tallest “little person” in the room i.e.(money running to US equities from around the world b/c earnings, currency strength and balance sheets here are more predictable and stable here than anywhere else)?
The shell game lives on!
Indeud. I find the whole idea of 50% haircut being “voluntary” entirely laughable. What’s the point of CDS if nobody ever needs to pay because all haircuts are “voluntary”? If Greece wants another 50% on top of that, will that be voluntary too?
The point of the CDSs is so the fraudulent enterprises selling them can collect premiums. Because of long standing moral hazard, they write these things with impunity, paying no mind to whether they actually have the reserve to cover, and thus win big when no default occurs but also win when default does occur as they are able to socialize the losses via tax payer bail outs!
“There are no markets anymore just interventions,” its absolutely rotten out there!
Words mean nothing. There is no responsibility. No such thing. Remember, it all depends on what “is”, “is”.
The financial world has become one giant knife fight in a rubber raft.
This too shall pass, this buck will (not) stop….time will heal all….right…Right??
Right???
Check out GPL, it’s a solid miner like EXK.
Time for Germany to go on another pointless military adventure against their neighbors. They tend to do that every 30 or 40 years and they’re overdue.
Yep. Anyone who doesnt think this sort of shit isnt a recipe for European conflict doesnt understand history.
Somebody is getting invaded. Set it in stone.
Hah!! Someone gets it!!
There is a 1500 year history in Europe that is buried no more than skin deep. It is like a pimple waiting to get to the point where it needs to be popped. Then WhAMMO!! Pus everywhere 🙂
Seriously though, at some point in the next ten years, they will find the straw that breaks the camels back. It will not be pretty. The Euro’s have lot’s of practice killing each other.
In the past Europe didn’t have hundreds of thousands of Uncle Sam’s finest killing machines parked in their backyard.
Been yapping here about the North Sea petroleum finds and rig utilization in harsh environments. See this release:
http://www.rigzone.com/news/article.asp?a_id=112102&hmpn=1
Still long SDRL and NADL
NAD.L ???
or NBL ???
.
CMG (ie. Chipotle Mexican Grill) seems poised to be the next MoMo stock to plumet back to Earth. imo
LONG tha food … SHORT tha stock ! (as it were)
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… Triple Top is in place ! fwiw
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Senor’ Alf,
If I may be so bold, what brings you to you’re thesis on CMG. Just curious. Thanks
…strictly a chart read !
As I stated in the above post … “Triple Top” in place !
I could see it pull-back to the 30 week EMA around the $300 area ! imo
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The EU’s issues are going to take a long time to figure out.
The culture in Europe is one that takes a long time to make decisions.
And as Mesieur Le Fly (sic no homo) says..
A voluntary haircut is not possible. (Technically it may be – but not probable!..No way.)
Thks Fly BUY 7,500 EPV
What the hell is wrong printing money?
ALL upside: Devalues debt, bails out pension funds, and props up stock markets.
And the other plus is it devalues the wealth of the richie-rich bondholders, who didn’t do JACK SHIT to amass their wealth.
Destroys savings, creates commodities inflation, results in mass starvation in developing countries – for starters.
Wow…we bounced EXACTLY AT 1221. or 1221.06. The last line of defense for the Bulls.
Very very impressive bounce… people are still buying out there.
People, or POMO?
fly it surprises me that you are surprised their oligarchy is gonna lie and cheat it’s way out of this one just like our did here. we are all slaves to the banks and corrupt govt. OWS bitches!
Fly,
Dole foods has a marketcap under 1 bil 30% short interest. You can’t go wrong with fruits and vegetables, not to mention Pineapple coffin demand is growing exponentially.