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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (82428)	10/30/2011 11:03:37 PM
From: TobagoJack	1 Recommendation Respond to of 217791

zerohedge.com While it is not the bears doing the explaining in this latest all too realistic summary of the European non-bailout, it is the next best thing.

To: carranza2 who wrote (82428)	10/31/2011 9:11:07 PM
From: TobagoJack	Read Replies (2) \| Respond to of 217791

just in in-tray acting man update: That Strange Currency - The Crisis Doesn't Skip A Beat We have been thinking of a new motto for the eurocracy and have decided upon the well-worn and highly applicable 'Semper in excretia sumus, only profundum variat' (we're always in the sh*t, only the depth varies). That the crisis hasn't been stopped became evident when late last week, in spite of the collapse in sovereign CDS occasioned by the highly dubious notion that a 50% haircut is not a credit event, Italian and Spanish bond yields kept right on rising. This has caused Italian p.m. Berlusconi to wonder aloud about that 'strange currency', the euro, which 'no-one wants'. Meanwhile, the economies of Portugal and Spain continue to crumble, with ominous implications. Both countries are now in the grip of outright monetary deflation, which is highly reminiscent of what happened in Greece and suggests that 'project ring-fencing' is dead on arrival. Also included, a further discussion of the blow dealt to the sovereign CDS market, and a brief look at Europe's 'banking empires' - small nations that have extended their banking reach way beyond their borders and in all likelihood also beyond the capacity of their governments to provide bailouts in extremis. It appears also that not only are a number of economies crumbling, but so is the 'wall of worry' that has supported the recent stock market rally. We're not in the outright euphoria stage yet, but getting close. Credit market charts updated. acting-man.com