12DrinkMore Posted June 23, 2012 Author Share Posted June 23, 2012 25 hours no posting. the financial crisis can't be that bad... it's got that uncertainty about the inevitable feel to it. There's 'er something wrong about that statement. It's that "I can't believe this is happening" feeling. Hello MJP, been a while since you came past. Link to comment Share on other sites More sharing options...
MJP Posted June 23, 2012 Share Posted June 23, 2012 25 hours no posting. the financial crisis can't be that bad... it's got that uncertainty about the inevitable feel to it. There's 'er something wrong about that statement. It's that "I can't believe this is happening" feeling. Hello MJP, been a while since you came past. It's grim here 12D, truly grim it's June. And it's grim. Ferociously cold, gray and damp. I feel the pull of Heathrow departures. Add to that any sense of 'recovery' has vanished in the past month with sentiment amongst the great unwashed being as low as I've ever seen. Almost a resignation that all is utterly f-ked. Hatches are battening down. Link to comment Share on other sites More sharing options...
12DrinkMore Posted June 25, 2012 Author Share Posted June 25, 2012 It's grim here 12D, truly grim it's June. And it's grim. Ferociously cold, gray and damp. I feel the pull of Heathrow departures. Add to that any sense of 'recovery' has vanished in the past month with sentiment amongst the great unwashed being as low as I've ever seen. Almost a resignation that all is utterly f-ked. Hatches are battening down. And I thought everybody was upbeat about the queen's jubilee and the olympics. I guess that England's defeat by Italy will have dampened the mood a bit. But don't worry! With swathing cuts in government budgets, massive QE from Merv and strident reforms in the economy, the UK will soon be chugging along just great. Maybe. Link to comment Share on other sites More sharing options...
churchill Posted June 26, 2012 Share Posted June 26, 2012 a new paper by lots of presidents ... I expect they include Gollum and Barroso .. loads of waffle telling us nothing and even talking already about risk management after 25 years of meetings and champagne parties why are these people being paid http://ftalphaville.ft.com/blog/2012/06/26/1059301/towards-a-genuine-economic-and-monetary-union-or-something/?utm_source=dlvr.it&utm_medium=twitter surely Brussels has more important rubbish to think about ... yes Brussels acts over garlic tax http://www.ft.com/intl/cms/s/0/e6c1842e-bbce-11e1-9aff-00144feabdc0.html#axzz1ytMqNekf Link to comment Share on other sites More sharing options...
MJP Posted June 26, 2012 Share Posted June 26, 2012 It's grim here 12D, truly grim it's June. And it's grim. Ferociously cold, gray and damp. I feel the pull of Heathrow departures. Add to that any sense of 'recovery' has vanished in the past month with sentiment amongst the great unwashed being as low as I've ever seen. Almost a resignation that all is utterly f-ked. Hatches are battening down. And I thought everybody was upbeat about the queen's jubilee and the olympics. I guess that England's defeat by Italy will have dampened the mood a bit. But don't worry! With swathing cuts in government budgets, massive QE from Merv and strident reforms in the economy, the UK will soon be chugging along just great. Maybe. I wasn't far out . . . . the last six weeks according to Merv . . . . http://www.bbc.co.uk/news/business-18587254 Anyway. Such is working life in Blighty I was too knackered to even call the bomb squad on Sunday when I found a live 105mm shell outside my office. Just starred at the thing. One of the boys dumped it there when they found it in a dig, wondered what it was. Thick knuts! Link to comment Share on other sites More sharing options...
churchill Posted June 27, 2012 Share Posted June 27, 2012 Middle east is not looking so good .. but is this the right way .. They arm we arm ... FCK . Condoleezza Rice calls on U.S. to arm Syria rebels http://www.cbsnews.com/8301-505263_162-57460437/condoleezza-rice-calls-on-u.s-to-arm-syria-rebels/ Link to comment Share on other sites More sharing options...
Naam Posted June 27, 2012 Share Posted June 27, 2012 Condoleezza Rice calls on U.S. to arm Syria rebels gimme a break Condy! you don't know that this is already done? Link to comment Share on other sites More sharing options...
manarak Posted June 27, 2012 Share Posted June 27, 2012 Merkel said yesterday that as long as she lives, there will be no mutualized-risk Eurobonds for the PIIGS to feed on. I wasn't a big fan of Merkel, but now I love her! Link to comment Share on other sites More sharing options...
ronz28 Posted June 29, 2012 Share Posted June 29, 2012 Greece's spending on social programs as a % of GDP appears to be no more than the rest of Europe but others are trusted to pay their bills probably because they actually collect taxes and balance budgets within reason. http://www.theatlantic.com/business/archive/2012/06/the-myth-that-entitlements-ruin-countries-busted-in-1-little-graph/259056/# Can spending austerity alone make the Greeks financial responsible? It seems hopeless without requiring payment of their taxes to balance their budget. Focusing on actually collecting more taxes to pay for spending and payment of debt service would be more to the point. Otherwise they should go their own way and print all their own worthless currency the market will stand. Time to get on with it. Link to comment Share on other sites More sharing options...
churchill Posted June 29, 2012 Share Posted June 29, 2012 (edited) At the end of the last summit .. They said they had laid out a detailed roadmap to solve the crisis .... So at the end of this summit .. 'In draft summit conclusions, subject to amendment on Friday, the leaders were set to ask the EU's top four officials to produce a detailed, time-bound roadmap in December leading to a genuine economic and monetary union. But markets may not wait that long.' http://www.reuters.c...E85O0CS20120629 Words .. They cannot agree , they do not know what to do ... So now they plan to have a plan ..if if if Edited June 29, 2012 by churchill Link to comment Share on other sites More sharing options...
Naam Posted June 29, 2012 Share Posted June 29, 2012 Words .. They cannot agree, they do not know what to do ... ...and keep on flogging the dead horse that gold will any time now shoot up to galactic heights Link to comment Share on other sites More sharing options...
Naam Posted June 29, 2012 Share Posted June 29, 2012 Greece's spending on social programs as a % of GDP appears to be no more than the rest of Europe but others are trusted to pay their bills probably because they actually collect taxes and balance budgets within reason. http://www.theatlant...-graph/259056/# Can spending austerity alone make the Greeks financial responsible? It seems hopeless without requiring payment of their taxes to balance their budget. Focusing on actually collecting more taxes to pay for spending and payment of debt service would be more to the point. Otherwise they should go their own way and print all their own worthless currency the market will stand. Time to get on with it. seconded! Link to comment Share on other sites More sharing options...
Naam Posted June 29, 2012 Share Posted June 29, 2012 Italian Prime Minister Mario Monti and his Spanish counterpart, Mariano Rajoy, refused to sign off on a 120 billion euro ($149 billion) growth package until EU paymaster Germany approved short-term measures to ease their cost of credit.http://www.reuters.com/article/2012/06/29/us-eurozone-idUSBRE85O0CS20120629 beggars can't be choosers! Link to comment Share on other sites More sharing options...
Naam Posted June 29, 2012 Share Posted June 29, 2012 Merkel insists that fundamental reforms to give European Union authorities power to override national budget and economic policies must come before any further shared liability. he she who pays the piper calls the tune! Link to comment Share on other sites More sharing options...
Naam Posted June 29, 2012 Share Posted June 29, 2012 But markets may not wait that long if markets are not willing to wait, let them walk away! Link to comment Share on other sites More sharing options...
churchill Posted June 29, 2012 Share Posted June 29, 2012 I'm surprised They have agreed something ...which seems to be having a calming effect EU agrees banks recap thru aid funds http://www.fxstreet.com/fundamental/market-view/european-crisis/2012/06/29/ Link to comment Share on other sites More sharing options...
churchill Posted June 29, 2012 Share Posted June 29, 2012 Germany caves in over bond buying, bank aid after Italy and Spain threaten to block 'everything' http://www.telegraph.co.uk/finance/financialcrisis/9363900/Debt-crisis-Germany-caves-in-over-bond-buying-bank-aid-after-Italy-and-Spain-threaten-to-block-everything.html 'Angela Merkel (not) @Queen_Europe Oh just stick all your breakfasts on my room bill then you b***ards.' Link to comment Share on other sites More sharing options...
Naam Posted June 29, 2012 Share Posted June 29, 2012 Germany caves in... only in the mind of an ignorant anglo-telegraph-journàsslist! here's the beef: Under the deal, Spanish banks will be recapitalised directly by allowing a €100 billion EU bailout to transferred off Spain’s balance sheet after the European Central Bank takes over as the single currency’s banking supervisor at the end of the year. The decision, taken by a meeting of eurozone leaders in the early hours of Friday morning, will be based on a move to put the ECB at the centre of a “effective single supervisory mechanism” for banks after an EU summit in December. Link to comment Share on other sites More sharing options...
Naam Posted June 29, 2012 Share Posted June 29, 2012 ECB in the driver's seat? i might have to change plans! Link to comment Share on other sites More sharing options...
churchill Posted June 29, 2012 Share Posted June 29, 2012 Ireland is also excited ..... 'Dramatic dawn deal to reduce Ireland’s debt' http://www.independent.ie/business/irish/eu-summit-dramatic-dawn-deal-to-reduce-irelands-debt-3153543.html 'Angela Merkel (not) @Queen_Europe A decisive solution: using a fund that doesn't exist to buy debt that won't be repaid via a mechanism that hasn't been agreed.' Link to comment Share on other sites More sharing options...
Naam Posted June 29, 2012 Share Posted June 29, 2012 A decisive solution: using a fund that doesn't exist to buy debt that won't be repaid via a mechanism that hasn't been agreed.' a correct interpretation! Link to comment Share on other sites More sharing options...
manarak Posted June 29, 2012 Share Posted June 29, 2012 I don't know what the forex traders find so relieving about the summits "achievements" - a bail out for italian and spanish banks? dosen't look like a real breakthrough to me - why does that make the dollar plunge by nearly 2% ?? Link to comment Share on other sites More sharing options...
Naam Posted June 29, 2012 Share Posted June 29, 2012 I don't know what the forex traders find so relieving about the summits "achievements" - a bail out for italian and spanish banks? dosen't look like a real breakthrough to me - why does that make the dollar plunge by nearly 2% ?? surely a part of that plunge is short covering. monday we'll know more. Link to comment Share on other sites More sharing options...
jaysg Posted June 30, 2012 Share Posted June 30, 2012 Good news in a deal in EU was done. Link to comment Share on other sites More sharing options...
ronz28 Posted July 3, 2012 Share Posted July 3, 2012 Mainstream media better late than never... http://www.bloomberg.com/news/2012-07-02/barclays-case-shows-something-s-rotten-in-banking-culture.html Link to comment Share on other sites More sharing options...
flying Posted July 5, 2012 Share Posted July 5, 2012 (edited) Mainstream media better late than never... http://www.bloomberg...ng-culture.html Well at least we see all the world banking is in sync When the news first broke I wondered if it would be any different there than the USA Then I heard the threats by Diamond that if he was prosecuted he would rat out a bunch of regulators obviously in on the dealings......... Next step....Diamond allowed to resign no charges seem to be forthcoming Oh sure they say they will look into it....The regulators that is....Hey are they the same regulators Diamond threatened to out? ....Probably Then to top it off this article states.... Heads should roll at other banks, too. Regulators and criminal prosecutors, including the U.S. Justice Department, are investigating at least a dozen other firms to determine whether they colluded to rig the rate :lol...........yeah at some point we really need to decide who will watch the watchers....... Because if heads rolling is anything like heads rolling in the US Banksters business that means early retirement with millions stashed + bonuses & probably a side deal to stay on as advisor Edited July 5, 2012 by flying Link to comment Share on other sites More sharing options...
flying Posted July 5, 2012 Share Posted July 5, 2012 (edited) Good news in a deal in EU was done. If I had to guess I would say Germany is close to or will refuse any further guarantees to the unsolvable Euro Debt problem .....How many deals will they stomach/shoulder? How many are yet to surface in need? I also highly doubt any further US QE's Even the FED now know that it will do more harm long term than good. Interest rates really cannot go lower. Higher gas prices will cripple the already limping economy. Further QE will only artificially inflate the already over inflated stock market. I would guess the FED know this.....I would guess they know now is the point of batten down the hatches & ride it out/accept some pain.....but you never know with the FED & BS Bernanke....Not to mention election year. All this would point to less liquidity....which makes one wonder....since 2008 have we moved anywhere at all? Or was the time just a prepping gift I dont think anyone is out of the woods by a long shot Just my opinion of course Edited July 5, 2012 by flying Link to comment Share on other sites More sharing options...
churchill Posted July 5, 2012 Share Posted July 5, 2012 Who needs banks ..? Most business with cash can sell on their own terms offering better rates than banks .. If anybody wants to buy property , or business... negotiate direct ... why bother with the cowboys ... Link to comment Share on other sites More sharing options...
Lopburi99 Posted July 5, 2012 Share Posted July 5, 2012 You weren't by chance born in the U.S. were you Ms. Merkel? Sure wish we had somebody like you to run against Obummer. We fiscal conservatives believe the U.S. is straight on the same glidepath as the troubled Eurozone countries were/are. No way Barry will seriously confront the debt crisis. He just wants to use his presidency to put in place his social programs and re-distribute wealth as much as possible. He will have made his mark, and will happily defer to the next president the inevitable rain pouring on America's parade. Link to comment Share on other sites More sharing options...
yoshiwara Posted July 6, 2012 Share Posted July 6, 2012 Who needs banks ..? Most business with cash can sell on their own terms offering better rates than banks .. If anybody wants to buy property , or business... negotiate direct ... why bother with the cowboys ... The appropriate phrase is disintermediation. Old hat. Link to comment Share on other sites More sharing options...
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