Hope we will not bail out Europe. It will be the death of us IMO.
Comments »Leftist governments forced out in Europe
Comments »MADRID (AP) — Throw a dart at a map of Europe now and it takes expert aim to hit a country run by a left-of-center government, especially after Spain’s Socialists were emphatically drubbed out of power over the weekend.
Although the shift to the right began years ago in such heavyweights as France and Germany, it is now all but complete three years into the continent’s grinding debt and economic crisis. Why? When times get tough — when “the cows get thin” as the Spanish say — political experts say edgy voters seek comfort with conservatives.
“The center-right is the natural preference in times of crisis,” said Piotr Kaczynski of the Centre for European Policy Studies in Brussels. “If you look at societies and how they make their preferences, they all tend to vote more conservative in times of crisis and more center-left in times of economic progress.”
Granted, on the European Union map there are scattered spots of leftist liberalism. A new Social Democratic government runs Denmark, there is a center left government in Norway and there is a broad Social Democratic-led coalition in Austria. And the Socialists might beat conservative President Nicolas Sarkozy in France’s presidential election next year.
Update on European 10 Year Yields
Italy 6.66% +.39%
Spain 6.55% +2.74%
France 3.44% -.78%
Belgium 4.79% +.29%
Poland 5.81% +.42%
Czech Republic 4.06% +2.59%
Hungary 8.39% +1.1%
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Foreign Banks Double Dollar Reserves As The Euro Crisis Accelerates
Egytian Police Put the Hammer Down on Protesters (VIDEO)
Europe faces lost decade
Comments »The austerity measures being rolled out in countries across Europe will have a devastating effect on the living standards of its population, an economist told CNBC Friday.
“These reforms are going to be devastatingly impacting on the population in these countries.
We are looking at a decade of lost living standards across most of Europe. The austerity measures are part of the solution but they are also going to deepen the downturn,” James Shugg, senior economist at Westpac, told CNBC.
He added that countries would be facing a prolonged period of hardship because tax revenues would also be hit.
“Europe needs to pull out all the stops and learn from its mistakes to ensure it can come through this with the least possible damage.
There is no easy solution to this, it will be hugely painful,” he said.
Documentary: Zeitgeist the Movie
Coffee Break: #OWS – “Beware The Zeitgeist” Lost Children Of Babylon
[youtube://http://www.youtube.com/watch?v=SJk-9fP9nV0 450 300]
Comments »Ireland Presents a New Round of Measures to Germany in Order to Show Restructuring
Zoellick Says If Europe Produces a Plan the U.S. and China Would Back Them Via the IMF
So the IMF angle is now being pitched to calm markets. At least today yields are not blowing out.
Comments »Morgan Stanley: we’re seeing a complete avoidance of EUR-denominated assets altogether
A new rift in spreads has caused investors to avoid even the safest debt in Europe.
Comments »French CDS At New All Time High
Conspiracy or Reality ?
Fed’s Bullard: European Debt Crisis Unlikely to Impact US
What are they smoking in St. Louis ?
” Europe’s persistent debt crisis is likely to “tumble along” for an extended period of time but not have much effect on the U.S., St. Louis Federal Reserve President James Bullard told CNBC.”
Comments »LIBOR Spreads Widen Overnight Over EU Debt Problems
Overnight spreads widened by 38 basis points and 5 year spreads widened by 45 basis points.
Comments »France and Germany Continue to Disagree Over ECB’s Role in Debt Crisis
China Says They Can Not Ease Monetary Policy Until Clarity Comes to Europe’s Debt Problems
China is probably waiting to see if the ECB will start printing money as their society feels the effects quickly from debasement.
Comments »Culture: Get Some
French and Spanish 10 Year Yields Edge Higher
French 10 yr is at 3.7% and Spanish yields are at 6.41%.
Comments »Chair Professor of Finance at the Chinese University of Hong Kong Larry Lang : “Chinese regime is in a serious economic crisis—on the brink of bankruptcy”
“China’s economy has a reputation for being strong and prosperous, but according to a well-known Chinese television personality the country’s Gross Domestic Product is going in reverse.
Larry Lang, chair professor of Finance at the Chinese University of Hong Kong, said in a lecture that he didn’t think was being recorded that the Chinese regime is in a serious economic crisis—on the brink of bankruptcy. In his memorable formulation: every province in China is Greece.
The restrictions Lang placed on the Oct. 22 speech in Shenyang City, in northern China’s Liaoning Province, included no audio or video recording, and no media. He can be heard saying that people should not post his speech online, or “everyone will look bad,” in the audio that is now on Youtube.”
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