From The Value Investing Congress yesterday

Based on previous defaults it may take years. Hopefully history will not repeat itself…

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Let them default already

French yields climbed higher than Germany’s yields for the first time since the Euro began…

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Germany is a trickster 

The hope is global recovery is happening 

Really 

Get ready 

Really ?

HAVANA – Venezuelan president Hugo Chavez likely has less than two years to live, his former doctor said, as the ailing firebrand traveled to Cuba for a checkup following cancer treatment.

Chavez, 57, has been through four rounds of chemotherapy in Cuba since revealing he had a cancerous tumor removed in June. But Venezuela has provided few details about the exact nature of the cancer, aside from that it was in the pelvic area.

Salvador Navarrete, his former personal surgeon, told Mexican newspaper Milenio Semanal on Sunday that the leader’s condition likely was worse than publicly admitted.

The doctor described the prognosis as “not good.” He added, “When I say this, I mean that he has no more than two years to live.”

Navarrete said Chavez likely was suffering from either a tumor in his pelvis or a sarcoma, which would explain the intensive course of treatment.

Navarrete was the personal surgeon for Chavez from 2002 until earlier this year, when Chavez changed his medical staff to exclusively Cuban doctors.

Before departing for Havana, Chavez told Venezuelan TV that the visit was routine, but he did not disclose any details of his condition. Earlier reports said the visit was for a checkup, to see whether there were any malignant cells in his body, AFP reported.

Chavez has been in power since 1999 and has maintained that he will recover in time to win re-election in 2012.

Josef Ackerman, head of DB and chief lobbyist for international banks, is fighting back against European banks taking larger haircuts from Greece and recapitalizing them.  The shit is about to hit equity markets again as no bazooka will be in force and Germany states the problem will last well into next year.

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Perhaps a tell for holiday sales 

Merkel said all the ideas and dreams taking place to save Europe will not happen.

“The search for an end to the crisis “surely extends well into next year.” 

Markets Pare Gains

Police in Honduras said six men were shot dead as they left an airport in the northern part of the country, which has one of the world’s highest homicide rates.

The incident took place on Friday, at the exit for the carpark at the airport in San Pedro Sula, which is located 240 kilometers (150 miles) north of the capital Tegucigalpa.

On Thursday, the Violence Observatory at the National Autonomous University of Honduras released a study indicating that the small Central American country of eight million was on course to break world records with its murder rate.

Honduras will reach 86 murders per 100,000 inhabitants by the end of this year, according to the observatory’s coordinator Migdonia Ayestas.

Honduras leads 207 countries with its murder rate this year, according to a UN study that estimated it at 82.1 deaths per 100,000 people. It is followed in the region by El Salvador (66) and Guatemala (41.4).

Authorities have blamed some of the violence on international drug cartels, which have used Central American countries such as Honduras as transit routes to export cocaine to the United States.

SOURCE 

Finer details to be made on October 23rd

I agree; until we see an external shock

I guess this is a safer way for them to invest into Europe’s troubled banks 

Fun times

Shareholders and other private parties a highly skeptical of putting any more money into euro zone banks…

The State must act

Liquid and solvency problems still abound