Look at the sources of the bailout rumors that are hitting this weekend.
The €545 billion splurge by the Fed on EU held MBS paper came from a fucking survey of dick holes with no visible channels to the Federal Reserve. Accompanying that rumor was an equally audacious lie about a €700 billion plus bailout just for little old Italy.
The European Stability Treaty sounds exactly like the the EFSF, save now it has an extra layer of hoops it has to jump through meaning it takes even longer to implement. Because things were so expedient we had time to spare, eh?
I would be more inclined to listen to this horseshit if it weren’t the ninth round of totally unsubstantiated hearsay. Fuck everyone; until I hear Bernanke say we’re getting a bailout personally, it isn’t happening.
In my heart, I just cannot believe that some stupid little bailout found stands a chance of easing this crisis. It is massive and front loaded. All this debt comes due all at once. How do you print that much without crushing the economy at the back end?
It’s like not balancing a check book. It doesn’t matter that you change your habits if you still have huge swaths of outstanding checks. Nobody cares that you found Jesus when the next one bounces.
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Lol the €517 billion bailout rumor came from inside Italy itself. And they just happen to have a bond auction tomorrow of course…
By the way, how much money has the EFSF raised?
I guess we should fade the 2% opening gap tomorrow …
Absolutely.
Oh shit the IMF bailout already broke? No problem. Now EU “elite” bonds are going to be issued. They are exactly like joint bonds, save that now the AAA countries are taking ALL the liability.
BULLSHIT!
Dude, they will print. Chill.
Who is going to print? No one with the power to print has as of yet said “we are going to print.”
People like you have said “they are going to print.” That means nothing to me.
This post sounds desperate…
Pedro, we’ve had at least 5 different rumors in 5 hours. I am not a sucker; I can spot frantic and erratic behavior.
Cain,
I also am not a sucker and can spot a frustrated short when I see one. If they have this kind of power with just “rumors,” doesn’t it terrify you (as a short) what might happen if they actually do print? As I have said, the rumors, the EFSF, etc. have all been with the intention of buying enough time to get some kind of fiscally integration before the inevitable print job.
So you’re long ‘extend and pretend’ and believe the CBs have this bitch under control?
I’m long those in power doing everything they can to maintain the status quo.
No. I am not full short. I have shorts that I want to see pan out.
Besides, 2% futures bounce after a 7% selloff is not as of yet a threat. Let’s see it stick.
At the end of the day it is real outcomes that must happen; rumors count for shit.
yeah pedro..all those frustrated shorts now that the market is down what..100 handles over the past few weeks..and please define “fiscally integration” – and i’m not referring to your poor grammar – what, exactly, needs to be done while they are “buying time” before they print..why can’t they just print? exactly what loose ends need to be tied before they print? that argument is pure buzzword crap…fiscal integration is the ANTITHESIS of why they would print..if they print it’s because they don’t want to jointly be responsible for others debts..why would Germany contractually put itself on the hook for all of southern europe, only to then just print it all away…i have no idea if the ECB ends up printing, but to claim that it’s the likely outcome and all we’re waiting on is some economic unification first is just pure drivel..they haven’t printed because they are terrified of the consequences in southern europe of everyone simultaneously refusing to pay their debts and the ECB owning every piece of sovereign paper on the continent..
Angela Merkel Ordering the people to sit down on the grass, He took the five loaves and the two fish, and looking up toward heaven, He blessed the food, and breaking the loaves He gave them to the disciples, and the disciples gave them to the crowds,
and they all ate and were satisfied. They picked up what was left over of the broken pieces, twelve full baskets.
There were about five thousand men who ate, besides women and children
The trend in stocks from the 2009 low is remarkably similar to the one that led to the 1937 bear market. Patterns in currency relationships also point to ‘risk off’.
http://www.dailyfx.com/forex/video/technical_analysis/2011/11/18/Charting_the_1930s_Stock_Market_to_Now_-_Look_out_Below.html
Dollar off fitty cent. Prolly has another $1.50 to go at least in this cycle.
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Anyone have any info on the BTB 10 year auction “no charge day” that they’re talking about on CNBC? Apparently Italian citizens can buy the bonds at auction today without paying for them right away. Google search comes up empty.
It’s Italian “Buy a Bond Day”. No joke: http://www.bloomberg.com/news/2011-11-28/italian-banks-try-patriotism-route-to-spur-investor-demand-for-local-bonds.html
Lol
And reality starts to set in http://www.marketwatch.com/story/italy-borrowing-costs-jump-in-small-auction-2011-11-28?link=MW_home_latest_news