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Barclays Says Italy Is Finished
11-09-2011, 02:29 PM #1
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
Euphoria may have returned briefly courtesy of yet another promise for a resignation that will likely not be effectuated for weeks or months, if at all, and already someone has done the math on what the events in the past several days reveal for Italy. That someone is Barcalys, the math is not pretty, and the conclusion is that "Italy is now mathematically beyond point of no return."

http://www.zerohedge.com/news/barclays-s...-no-return

DOW Positive!!! rofl.gif
11-09-2011, 03:10 PM #2
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,350 Threads:1,438 Joined:Feb 2011
Euphoria may have returned briefly, but it's usually short lived. They haven't really solved the Greek crisis, no one wants to lend the EU money and now Italy. I've been saying this was the way it's going to happen bored.gif and of course, it did.
Portugal up next, and this DOW rally is doomed. coffeetime.gif

wonder.gif
11-09-2011, 03:28 PM #3
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
Bear market rallies never last. But I was just being sarcastic lol.

Worldwide Markets Collapse Following Italian Bond Margin Hike

http://www.zerohedge.com/news/worldwide-...argin-hike

Maybe 'collapse' is a bit sensational but there's a good chance there'll be a EU wide flat out panic by Friday. France next? Sarkozy greatly pissed off the Yahoo 37.gif
11-09-2011, 03:32 PM #4
Octo Mother Superior
Posts:42,819 Threads:1,472 Joined:Feb 2011
Markets nose diving beercheer.gif I hear Greece is rethinking the choice of a new PM

Quote:Greek senior ruling party MP Kaklamanis says there is no agreement on the new prime minister.

http://www.telegraph.co.uk/finance/finan...-live.html

3beers.gif Good morning Shadow! hug.gif Doom on!
11-09-2011, 03:37 PM #5
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,350 Threads:1,438 Joined:Feb 2011


rofl.gif

wonder.gif
11-09-2011, 03:39 PM #6
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
Hej Octo!! hug.gif OMG it's fascinating! blink.gif

Rogers: “100% Chance Of Crisis Worse Than 2008,” Italy Implodes

http://www.infowars.com/rogers-100-chanc...-implodes/

He's right, you don't solve debt with more debt yet that's exactly what these countries have been doing for decades!!
11-09-2011, 03:46 PM #7
Octo Mother Superior
Posts:42,819 Threads:1,472 Joined:Feb 2011
omg that SNL take on Greece rofl.gifrofl.gifrofl.gif


Quote:Italian yields at Ponzi levels: having to borrow more just to finance the interest on debt leading to vicious unsustainable debt dynamics. Berlusconi: dithering while Rome is burning. He would rather let Italy burn to the ground rather than leave power.

Nouriel Roubini


pop2.gif
11-09-2011, 03:46 PM #8
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,350 Threads:1,438 Joined:Feb 2011
(11-09-2011, 03:39 PM)Shadow Wrote:  He's right, you don't solve debt with more debt yet that's exactly what these countries have been doing for decades!!

But... but... that's what Obama did, and things are fine now, at least in the US. rofl.gif rofl.gif


wonder.gif
11-09-2011, 03:56 PM #9
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
chuckle.gif that skit was great!!
11-09-2011, 04:15 PM #10
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,350 Threads:1,438 Joined:Feb 2011
We lol'd, glad you enjoyed it.

wonder.gif
11-09-2011, 04:18 PM #11
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
rofl.gif I lol'd too yez.

And Now: France


http://www.zerohedge.com/news/and-now-france
11-09-2011, 04:26 PM #12
Kreeper Griobhtha
Posts:10,733 Threads:641 Joined:Feb 2011
The various European countries need to hire Stone Cold Steve Austin to teach them what to do.





Politicians hide themselves away
They only started the war
Why should they go out to fight?
They leave that role to poor
11-09-2011, 04:29 PM #13
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,350 Threads:1,438 Joined:Feb 2011
Well, that just about spells the end of the €uro. Some contracts are already being written in Europe that include options for exchange of alternative currencies. Too lazy to hunt for the link, but it's true.

wonder.gif
11-09-2011, 04:38 PM #14
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
(11-09-2011, 04:29 PM)JayRodney Wrote:  Well, that just about spells the end of the €uro. Some contracts are already being written in Europe that include options for exchange of alternative currencies. Too lazy to hunt for the link, but it's true.

The black swan event was not calling in the Greek CDSs. That's like having your house burn down and not collecting on the insurance policy because you own the insurance company and collecting would bankrupt you. But you have no house. Now all the money fleeing the Euro will go to gold and US$. I read a quick blurb that Bank of Canada may step in with "exceptional liquidity" Hah! All that means is more debt spending, no way can canada bail even Italy's 1.3 trillion never mind the rest. None of the PIIGS are willing to give up their gold, I wouldn't either, so default it is.
11-09-2011, 04:41 PM #15
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,350 Threads:1,438 Joined:Feb 2011
cheers.gif A toast to default. I'm thinking the term Black Friday may be on the tip of everyone's tongues this weekend.

wonder.gif



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