What an awesome series of manufacturing reports coming out of half of the developed world. Damn, I just cannot fathom why I ever doubted the rally in crude oil. I mean, Germany and China only saw the largest contraction in manufacturing utilization since 2009.
And to top it off with whip cream, Germany of all places could not sell three out of ten of their intended bonds. I mean, if Germany cannot issue debt, who can?
Actually, on second inspection, the Germany news is almost too ludicrous. Is this some sort of conspiracy? Or perhaps a bad joke?
Maybe some financiers got together and decided they’d add the spice of panic to the Germany recipe, hoping that Germany would rethink its “no money printing” position?
Well if they did, they’re completely crazy. The only way this news will be received is as I first phrased it; the failed Germany auction will cause all men and women to ask “if not Germany, then who?” Already, the yields on notes across Europe are jackknifing higher. And Merkel hasn’t changed her rhetoric in the slightest.
She already came out today supporting the ECB and their tight fisted approach.
Ladies and Gentlemen! Boys and Girls!
We are in trouble.
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Come on Cain. You know when the shiite hits the fan, it sprays it everywhere. I just hope it doesn’t happen here. That would be some bad doo doo.
There’s no way the U.S. just walks off an EU crisis. We’ll be lucky to limp away from it.
I’m more worried about China. That will also directly effect the Canadian and Australian dollars.
China is fucked.
Yes, the ghost of China’s “superiority complex” is going to haunt Americans who are betting that that country is just “so much better off than the United States.”
When the going gets tough, who in their right minds want their wellbeing tied to a country who’s leaders don’t formally believe in property rights? Yet there are psycopaths who are putting themselves in just such a position.
It will be ugly.
It’s hard to see anything positive when I look around.(From a macro perspective)
I mean Japan has an aging demographics, they are eventually fucked.
The EU, we all know they is dead. The longer they have these bailouts and austerity programs, the worse off the EU consumer is going to be.
The US, still in recovery mode, except the US is dead because of the deficit.
The BRIC’s are fucked.(I believe they all have/bad inverted yield curves recently)
I look around and I see a dozen potential lehman brothers. Maybe I’m just being pussy. WHO KNOWS.
I don’t disagree. My only reservation to declared the world totally fucked is that when times are darkest, that’s when the most wealth is made.
I just can’t bring myself to say it, because I don’t want to miss the buying opportunity. But we definitely aren’t there yet.