Fucking chicken scratch. Deutsche Bank analyst David Landau believes Europe will need to provide a mere $166 billion in freshly minted currency to bailout the banks, especially the greasy Italian ones. But don’t worry and rest assured, this will not be like 2008. Instead, as Landau put it, we are facing ‘a long, slow, downward spiral.’
Sounds bullish.
“Europe is extremely sick and must start dealing with its problems extremely quickly, or else there may be an accident,” Deutsche Bank’s David Folkerts-Landau said, according to the newspaper. “I’m no doomsday prophet, I am a realist.”
With Italian banks weighed down by 360 billion euros of soured loans, the government has been sounding out regulators on ways to shore up lenders amid a renewed selloff after Britain voted to leave the European Union. Lorenzo Bini Smaghi, a former member of the European Central Bank’s executive board who now chairs Societe Generale SA, said Wednesday that Italy’s banking crisis could spread to the rest of Europe and rules limiting state aid to lenders should be reconsidered to prevent greater upheaval.
“I do not expect a second financial crisis like in 2008,” Folkerts-Landau said, according to Welt. “The banks are much more stable today and have more equity. What we face this time is a slow, long downward spiral.”
UUnicredit is down 68% over the past year. Even MOAR BOOLISH.
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Is it true that Martin Schreli is bidding in size on magic trading cards?
A slow, long downward spiral. And also a slow long flooding of the world with cash liquidity, which will be used to buy MOAR stocks.
What’s that saying “A rising tide lifts all banks.”
I was blown away when I checked out $VFH. What is the best etf that is concentrated with European bank exposure?
your head in sand approach to the dangers around you will assuredly lead to your ruin.
Deutsche… read ’em and weep. https://youtu.be/bgzQMYvBq5I
Good golly. Silver gives zero fucks. Chinese farmers got deep pockets.
They certainly do. A friend of mine who married a Chinese woman and lives there, tells me that they have a huge under-the-table economy in China.