The € EURO thread

[Trajan]

Yields have collapsed this week for Spain, France and Italy.

Europe is saved!

tongue in cheek you little devil you.

 

[Toro]

American banks: Contagion? What contagion? | The Economist

 

[ekrem]

 

[ekrem]

 

[editec]

...America’s banks are reasonably healthy. They have significantly bolstered capital since 2008 and now boast core capital of 9% of assets, well above regulatory requirements

Well shoot!. If the FED had given me trillions of dollars in ZERO PERCENT LOANS, money that I could then lend back to the FEDERAL GOVERNMENT at 3% interest, I guess I'd be reasonably economically healthy, too.

Guess, now that the FED has given enough CORPORATE WELFARE to the US Banksters, they'll also have to make whole the US BANSTERS' VICTIMS, too.

 

[KissMy]

EFSF gets downgraded. The end is near!

 

[Trajan]

EFSF gets downgraded. The end is near!

I so prophesied 2 pages ago and was told NO, when asked if Germany would be DGed etc etc...they are all on several Ratings co. lists, as a grp. individually, Germany too.....I demand prophecy rep you mortals!!!!!!!!!!!!!!

* DECEMBER 6, 2011, 9:52 A.M. ET

S&P Threatens EFSF Downgrade


S&P Threatens EFSF Downgrade - WSJ.com

 

[Trajan]

a visual representation....France? AAA? *chuckle*...

 

[Toro]

Draghi, gettin' street cred with da Germans!

 

[FireFly]

It all comes crashing down after tomorrow.

 

[Trajan]

always good..



Hitler hears about the eurozone downgrade - YouTube

"Go and get the D-Marks"...

 

[KissMy]

Draghi, gettin' street cred with da Germans!

There goes the economy!

 

[Toro]

Europe’s disastrous summit | Felix Salmon

 

[Trajan]

Europe’s disastrous summit | Felix Salmon

is anyone up on their Eliot?Why he wrote it and what he was trying to say...the seeds could have been sonw there... they thought not, that they could fool nature, but each other,not.

from the Hollow Men-

This is the way the world ends
This is the way the world ends
This is the way the world ends
Not with a bang but a whimper.


and my fav?

"Mistah Kurtz - he dead"

 

[PeteEU]

Europe’s disastrous summit | Felix Salmon

Weird article.. almost as if it was written before the summit even started. Not much of what he writes is reflective of what actually happened at the summit or the actual facts of the issue.

 

[KissMy]

Printing presses are now running full time to keep the EU a-float until they get a working united governmental budget structure with teeth in place. This will likely take them 2 years. There will be an awful lot of printing going on until then. The Euro-zone will now become a successive string of bailouts. It started with EFSF then global coordination of central bankers & next the ESM. The Euro-zone economies will weaken in-spite of the devalued Euro. Negative GDP for some EU countries.

 

[Trajan]

Printing presses are now running full time to keep the EU a-float until they get a working united governmental budget structure with teeth in place. This will likely take them 2 years. There will be an awful lot of printing going on until then. The Euro-zone will now become a successive string of bailouts. It started with EFSF then global coordination of central bankers & next the ESM. The Euro-zone economies will weaken in-spite of the devalued Euro. Negative GDP for some EU countries.

the IMF has never been a 'pro growth' outfit. were they go, the 'sag' follows. look, raising taxes in say Greece or Italy, both of whom have HUGE underground economies is a non starter, aside from turning even more folks into law breakers as tax cheats and generating a profligate disrespect for tax authority and regulation, they won't realize half of what they claim on paper. Greece is already giving up on collecting taxes they have enacted.

Its the age old definition of insanity; doing the same over and over expecting different results.

They need to somehow some way, destroy the old paradigm of work regs rules and top down economic mgt. they have been using.

does any know for instance how a long haul trucker in Greece or Italy gets a license to do so? the gov. has a cap on the number of licenses it allows at any one time. the market in these licenses is like a taxi lic. (Medallion) in NYC. Its willed to family members or sold under ground from one person to another, no growth, no competition.

Want to open a pharmacy? If its within a certain distance of another pharmacy, nope, no dice. I could go on............but you get the picture.

 

[Toro]

Niall Ferguson: Great Britain Saves Itself by Rejecting the EU - The Daily Beast

 

[Toro]

Let's put aside the above concerns for a minute. When all is said and done, I am still amazed that the outcome of this summit is being described as a move toward fiscal union. It is not that - it is commitment to unified fiscal austerity, nothing more. Consider just a strict enforcement of the 3% deficit ceiling in light of actual deficits in the EU. Via NPR:

Just on the surface, it is tough to see any commitment to fiscal austerity as credible. Germany itself exceeded the targets in 7 out of the past 11 years. Talk about the pot calling the kettle black. France missed 6 in the past 11 years. And Italy 8 times. Thus, in addition to the periphery nations, the biggest economies in the Eurozone will all need to increase government saving to meet these targets.

Such saving will be attempted in the context of a recession in which the private sector also will be increasing savings as well. In other words, the public sector will be engaging in massive pro-cyclical fiscal policy as the recession intensifies. You have to imagine the end result is a substantial deflationary environment.

A Mixed Bag From Europe - Tim Duy's Fed Watch

 

[Trajan]

Niall Ferguson: Great Britain Saves Itself by Rejecting the EU - The Daily Beast

When hasn't Britain walked its own path vis a vis Europe?

This should be entirely consistent with the Brits character.

There is and was huge pressure brought by the usual suspects, academics, the Fabian elitists, Eurotrash set that wanted the UK to dump the Pound back then and they have not given up, they are applying the pressure on Cameron to cave right now. But the rubes didn't roll over then, who's laughing now?