It's About Liberty: A Conservative Forum
Topics => Economy => Topic started by: Libertas on June 07, 2011, 06:47:03 AM
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2% reserves, with all the insanity they have to deal with over there, 2%?!
This could get fugly quick.
And American banks do have stakes in many euro banks, just so ya know.
http://www.zerohedge.com/article/guest-post-first-history-coming-simultaneous-european-banking-collapse?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29 (http://www.zerohedge.com/article/guest-post-first-history-coming-simultaneous-european-banking-collapse?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29)
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2% reserves, with all the insanity they have to deal with over there, 2%?! This could get fugly quick.And American banks do have stakes in many euro banks, just so ya know.
The general population and investors seem to not understand the interconnected nature of the system -- there really isn't a safe haven anymore, and no one can afford a Euro or a dollar collapse at the moment, so everyone keeps playing "extend and pretend" - an everyday there are more and more people noticing the unstable edifice. Hell, when left leaning USA Today notices 62 Trillion in unfunded liabilities (http://www.usatoday.com/news/washington/2011-06-06-us-owes-62-trillion-in-debt_n.htm?loc=interstitialskip) you know the end is near.
Iran is 2 months from a Nuke. I suspect they will test its operation on a city in Israel, and we will have a full blown war in the Middle East. Obama will of course commit us to fighting it, and thereby justify price-fixing and rationing here at home as part of the war effort, drafting our ever growning jobless younger population (http://politicalcalculations.blogspot.com/2011/06/teens-disappear-from-us-workforce.html) into service to prevent them from rioting at home, deploying out best military personel over seas and hiding the complete failure of his policies the same way FDR did - by making the U.S a command economy. Why do I say this? WWI and WWII have thier roots in a similar envrionment.
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2% reserves, with all the insanity they have to deal with over there, 2%?!
And American banks do have stakes in many euro banks....
That's the 2% they're talking about ! ;D
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This could leave a mark
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2% reserves, with all the insanity they have to deal with over there, 2%?! This could get fugly quick.And American banks do have stakes in many euro banks, just so ya know.
The general population and investors seem to not understand the interconnected nature of the system -- there really isn't a safe haven anymore, and no one can afford a Euro or a dollar collapse at the moment, so everyone keeps playing "extend and pretend" - an everyday there are more and more people noticing the unstable edifice. Hell, when left leaning USA Today notices 62 Trillion in unfunded liabilities (http://www.usatoday.com/news/washington/2011-06-06-us-owes-62-trillion-in-debt_n.htm?loc=interstitialskip) you know the end is near.
Iran is 2 months from a Nuke. I suspect they will test its operation on a city in Israel, and we will have a full blown war in the Middle East. Obama will of course commit us to fighting it, and thereby justify price-fixing and rationing here at home as part of the war effort, drafting our ever growning jobless younger population (http://politicalcalculations.blogspot.com/2011/06/teens-disappear-from-us-workforce.html) into service to prevent them from rioting at home, deploying out best military personel over seas and hiding the complete failure of his policies the same way FDR did - by making the U.S a command economy. Why do I say this? WWI and WWII have thier roots in a similar envrionment.
Man, we were comtemplating this senario....What better way to hide your deficiencies as a leader? Do nothing to stop WW3 then get involved after the fact.
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Man-made disaster at the power of infinity.
::unknowncomic::
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Man-made disaster at the power of infinity.
::unknowncomic::
....and beyond ::hysterical::
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Man-made disaster at the power of infinity.
::unknowncomic::
....and beyond ::hysterical::
Buzz liteyear.
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Heh!
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Greece is in deep doo-doo!
http://www.zerohedge.com/article/greece-imploding?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29 (http://www.zerohedge.com/article/greece-imploding?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29)
27.5% on a two-year Greek note! Talk about junk bonds!
And French banks with Greek exposure are feeling the heat.
http://www.zerohedge.com/article/contagion-risk-increases-%E2%80%93-euro-falls-moody%E2%80%99s-may-cut-rating-3-large-french-banks-exposed-gr?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29 (http://www.zerohedge.com/article/contagion-risk-increases-%E2%80%93-euro-falls-moody%E2%80%99s-may-cut-rating-3-large-french-banks-exposed-gr?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29)
This is only going to affect more and more nations as more PIGS line up for slaughter, then the next tier of nations will go begging. In the end who can bail anyone else out when you yourself are turning to sh*t?! And we here in the US are not learning the lessons of what to avoid and instead are hell-bent on joining them in ruin! This is going to be one fugly collapse. It will make the Great Depression look like a minor blip when all is said an done!
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27.5% on a two-year Greek note! Talk about junk bonds!
Coming soon to a Country near you!
QE3 or not QE3 that is the question.But as this article points out, its really a question of if we are going to turn off the ironlung or not. THe patient is already dead.
http://www.atimes.com/atimes/Global_Economy/MF14Dj05.html (http://www.atimes.com/atimes/Global_Economy/MF14Dj05.html)
Welcome to Zombie Land, home of the undead economy.
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27.5% on a two-year Greek note! Talk about junk bonds!
Coming soon to a Country near you!
QE3 or not QE3 that is the question.But as this article points out, its really a question of if we are going to turn off the ironlung or not. THe patient is already dead.
http://www.atimes.com/atimes/Global_Economy/MF14Dj05.html (http://www.atimes.com/atimes/Global_Economy/MF14Dj05.html)
Welcome to Zombie Land, home of the undead economy.
Heh, I may have to use that line from time to time!
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At least actual zombies have the sense to look for brains! So there it is, even zombies have a greater sense of self-assessment than proglodytes.
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I might be tempted to lend them money at 27.5% if the secured it with beach front property.
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I might be tempted to lend them money at 27.5% if the secured it with beach front property.
::thumbsup::
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Re:http://www.atimes.com/atimes/Global_Economy/MF14Dj05.html
[blockquote]...
The great Reagan expansion of 1984-2008 gave us a very different sort of equity market than we have seen before or since, namely a market in which investors looked to future price appreciation rather than present income.
...
Investors had such confidence that earnings would rise, or that the price-earnings ratio would rise, that they ignored current income. Was that a bubble? Not at the outset; an entrepreneurial economy destroys the safety of existing cash flows, and creates value in new enterprises. As the US economy shifted from a Fortune 500 preserve to a creative-destruction economy during the 1980s, this sort of outcome should have been expected.
[/blockquote]
End uncertainty and regulation and this will be done again. Corporations, Entrepreneurs, event Banks are engorged with energy and reserves waiting for the free release of an open market. That's all that's necessary, it will be frenetic bliss.
If, however we elect some get-a-long or worst keep the same administration you can bend over and kiss capitalism and the Republic good buy. Republic In Name Only.
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Re:http://www.atimes.com/atimes/Global_Economy/MF14Dj05.html
[blockquote]...
The great Reagan expansion of 1984-2008 gave us a very different sort of equity market than we have seen before or since, namely a market in which investors looked to future price appreciation rather than present income.
...
Investors had such confidence that earnings would rise, or that the price-earnings ratio would rise, that they ignored current income. Was that a bubble? Not at the outset; an entrepreneurial economy destroys the safety of existing cash flows, and creates value in new enterprises. As the US economy shifted from a Fortune 500 preserve to a creative-destruction economy during the 1980s, this sort of outcome should have been expected.
[/blockquote]
End uncertainty and regulation and this will be done again. Corporations, Entrepreneurs, event Banks are engorged with energy and reserves waiting for the free release of an open market. That's all that's necessary, it will be frenetic bliss.
If, however we elect some get-a-long or worst keep the same administration you can bend over and kiss capitalism and the Republic good buy. Republic In Name Only.
A static tax policy would be nice too. And in the housing arena flushing F/F down the drain and removing CRA from the statutes would go a long way in returning proper risk assessment in lending practices and ensure the toxicity shell game of the democrats is never repeated again!
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27.5% on a two-year Greek note! Talk about junk bonds!
Coming soon to a Country near you!
QE3 or not QE3 that is the question.But as this article points out, its really a question of if we are going to turn off the ironlung or not. THe patient is already dead.
http://www.atimes.com/atimes/Global_Economy/MF14Dj05.html (http://www.atimes.com/atimes/Global_Economy/MF14Dj05.html)
Welcome to Zombie Land, home of the undead economy.
Check this out. The comments by the people shows just how well conditioned by the socialists pipe-dream they are! Looks great on the front end and a nightmare on the back end...the perfect description of socialist policies if there ever was one!!!
http://www.zerohedge.com/article/beware-contagion-greeks-baring-rifts-0?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29 (http://www.zerohedge.com/article/beware-contagion-greeks-baring-rifts-0?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29)
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We've been heading that way. We already have one half crop of kids
loving living the dream.
One more missed election and all those 8 yr. old's in 2012 shall have matured in loving dream care.
And that Betty White, have you seen here commercial for AARP? Old folks are the biggest voting block and those idiots who cannot pony up a simple declarative sentence supporting the Ryan Plan, you too Ann Barnhardt, are making a serious mistake. If they steel the old vote...
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How much can people write off before real pain is actually felt?
I guess we'll find out...
http://www.zerohedge.com/article/guest-post-countdown-sovereign-debt-write-offs-has-started?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29 (http://www.zerohedge.com/article/guest-post-countdown-sovereign-debt-write-offs-has-started?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29)
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If the EuroBank continues to subsidize a failed socialist ( read communist ) state like Greece then it deserves to go under . This sh*t has to stop somewhere ! ::gaah::
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Courtesy of the recently declassified Fed discount window documents, we now know that the biggest beneficiaries of the Fed's generosity during the peak of the credit crisis were foreign banks, among which Belgium's Dexia was the most troubled, and thus most lent to, bank. Having been thus exposed, many speculated that going forward the US central bank would primarily focus its "rescue" efforts on US banks, not US-based (or local branches) of foreign (read European) banks: after all that's what the ECB is for, while the Fed's role is to stimulate US employment and to keep US inflation modest. And furthermore, should the ECB need to bail out its banks, it could simply do what the Fed does, and monetize debt, thus boosting its assets, while concurrently expanding its excess reserves thus generating fungible capital which would go to European banks. Wrong. Below we present that not only has the Fed's bailout of foreign banks not terminated with the drop in discount window borrowings or the unwind of the Primary Dealer Credit Facility, but that the only beneficiary of the reserves generated were US-based branches of foreign banks (which in turn turned around and funnelled the cash back to their domestic branches), a shocking finding which explains not only why US banks have been unwilling and, far more importantly, unable to lend out these reserves, but that anyone retaining hopes that with the end of QE2 the reserves that hypothetically had been accumulated at US banks would be flipped to purchase Treasurys, has been dead wrong, therefore making the case for QE3 a done deal.
In summary, instead of doing everything in its power to stimulate reserve, and thus cash, accumulation at domestic (US) banks which would in turn encourage lending to US borrowers, the Fed has been conducting yet another stealthy foreign bank rescue operation, which rerouted $600 billion in capital from potential borrowers to insolvent foreign financial institutions in the past 7 months. QE2 was nothing more (or less) than another European bank rescue operation!
http://www.zerohedge.com/article/exclusive-feds-600-billion-stealth-bailout-foreign-banks-continues-expense-domestic-economy- (http://www.zerohedge.com/article/exclusive-feds-600-billion-stealth-bailout-foreign-banks-continues-expense-domestic-economy-)
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After the last election Republican leadership refrained allowing Ron Paul to chair House Financial Services Committee this weak action left the door open for the Fed and Treasury to continue their shenanigans.
Paul had declared plans for hearings and investigations which the Ruling Class successfully snuffed.
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Below we present that not only has the Fed's bailout of foreign banks not terminated with the drop in discount window borrowings or the unwind of the Primary Dealer Credit Facility, but that the only beneficiary of the reserves generated were US-based branches of foreign banks (which in turn turned around and funnelled the cash back to their domestic branches)
The whole banking system and world economic system is interconnected. If it wasn't China wouldn't be able to loan us money sowe could buy thier products, which is the same thing the US did after WWII. But this shows why US Dolla inflation seems to be so muchhigher overseas.. I thought it was largely because of actual exports, but that appears to be only part of the story - much of the QE2 was in fact loaned out overseas. However, wedid buy something for that - time. THe world is focused on Europe and thier problems and the U.S. dollar is still seen as a "safer bet" than the Euro. Using this scheme they were able to prop up both markets. Kicking the can down the road so to speak. Which is fine with me.The more time w get to prep the better. The slower we ease into our new 3rd world status, the fewer all out riots we will see, and there is a chance to maintain law and order. Of course, that may also give them time to strengthen the police state as well.
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Greece is screwed and they are screwing Europe in the process. They (the socialists) cannot have their cake and eat it too, but they still try, and now the angry mob that was once their bling & loyal supporters are eager to pillage and murder...and all the bankers did is suspend their quarterly support payment under the old agreement to bail them out. The rest of the PIGS will topple like dominos and then the bigger nations will literally be under the gun.
ZH's summary of the Euro statement is spot on.
http://www.zerohedge.com/article/official-statement-insolvent-europe-insolvent-greece?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29 (http://www.zerohedge.com/article/official-statement-insolvent-europe-insolvent-greece?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29)
Socialism, why it exists in any form, is a testament of how truly lazy and deluded sheeple are!!!
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Euro is getting pounded because of Greece...
The dollar is gaining on the Euro and Pound, but declining against everyone else, so we are only benefiting from someone elses worse misery...for now...
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At one time Merkel suggested they sell assets, such as their islands, for cash and pay their debt, too bad she didn't stick to it.
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Probably because they are not worth enough to be a viable option, especially now since real estate in general has deflated...
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For us, "socialism works until you run out of other people's money" is self-evident. But for them it is no such thing. For them, the corollary is "when you run out of other people's money, start seizing their property. They stole it from 'the people' anyway"
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I don't see much hope for the future when the EuroBank and socialst governments are tighter than the nuts on a switch engine !
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Speaking of nuts...
This is a decent analysis (can't believe an NBC division came up with this), basically says the Euros will meet their Waterloo in Italy, not Greece or Spain, although the latter two will be warning bells going into Italy!
http://www.cnbc.com/id/43474315 (http://www.cnbc.com/id/43474315)
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Greek PM survives no-confidence vote.
ZH posted this interesting take...
http://www.zerohedge.com/article/not-program-salvage-greek-economy-its-program-pillage-bankruptcy?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29 (http://www.zerohedge.com/article/not-program-salvage-greek-economy-its-program-pillage-bankruptcy?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29)
Yes, parasites intend to feed on a carcass until there is nothing left, then move on to a new host.
"The problem with socialism is that eventually you run out of other people’s money’" - Margaret Thatcher
Chickens, see roost.
::bashing::