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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (104326)	11/17/2011 11:42:06 AM
From: RetiredNow	Read Replies (1) \| Respond to of 149317

Thread, don't know if you realize this, but there is an ongoing run on Europe. Sovereign debt spreads are increasing at an alarming pace. Bond investors are dumping European debt very fast now and there's open talk of printing Euro's to buy sovereign debt. Germany is holding fast against that, because they know that they also are in the catch-22. Either they let the bond holders get creamed and let sovereigns service debt at higher rates or they spark massive inflation. All of this is a repeat of history circa pre-WWII. The end game for all this debt in Europe and in the US is fast approaching. My guess is that it will tank stock markets in a repeat of the lows of March 2009. Sounds incredible, but the odds of this are rising daily. Then add in the extra risk of the Super Committee's bullshit and the inevitable realization by investors and American citizens alike that cutting our deficits by less than 10% is a freaking joke of a drop in the bucket, then we have all the ingredients for the recipe of a market tanking event DIRECTLY ahead. Global risks in every corner are very high right now. The probability that any one of the risks on the table blows up hasn't been this high since the months preceding the Bear Sterns and Lehman events in 2008. Beware. Check Spain out: zerohedge.com Today is a rerun of Tuesday when it was all about the horrible Spanish auction. Well, let's use a different adjective for what came out of Spain today: dreadful, atrocious, awful: all words used not by us but by Wall Street experts to describe what just happened (see below). To summarize: Spain sold €3.56 billion euros of a new ten-year benchmark bond, well below the €4 billion targeted. The average yield on the bond was 6.975 percent, the highest paid since 1997, and almost 2% higher compared to the 5.433% paid on October 20.