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Old 05-17-2012, 11:31 AM   #21
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Bank runs apparently growing and spreading (Bankia in Spain) ...
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Old 05-17-2012, 12:13 PM   #22
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It's getting ugly over there, sort of a sovereign necrotizing fasciitis spreading out across the Euro periphery. I wonder how long before the whole thing locks up? JPM is pissing in their panties right about now, as I suspect the London Whale made a hell of a lot more bets that are going south than the Great Jamie Dimon and his responsible firm are aware of.

When you trot out the CEO of the largest financial entity on the fucking planet to explain away a bad bet, something much bigger is either already going down or getting ready to go down. This story is far from over I suspece. In fact, I believe as the peripheral nations begin to come apart, so will JPM. It will be like a fire on a windy day in dense dry brush: unstoppable.
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Old 05-24-2012, 11:04 AM   #23
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http://www.zerohedge.com/news/german...exit-done-deal

"The EU has finally realized that the Greeks have not met any agreements and will not continue not to meet them."

Well, duh!
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Old 05-24-2012, 12:01 PM   #24
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I have a sneaking suspicion we are going to get a weekend anouncement from the Greeks. we may not......but I think we will.
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Old 05-29-2012, 08:16 AM   #25
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Originally Posted by ancona View Post:
I have a sneaking suspicion we are going to get a weekend anouncement from the Greeks. we may not......but I think we will.
No weekend announcement, but people are preparing for the worst....
http://www.telegraph.co.uk/news/ukne...collapses.html

U.K. already planning on blocking migrants coming into Great Britain in the event of a crash.

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Old 06-04-2012, 08:10 AM   #26
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http://www.dailymail.co.uk/news/arti...nomy-year.html

"The head of the World Bank...said it was ‘far from clear that eurozone leaders have steeled themselves’ for the looming catastrophe amid fears of a Greek exit from the single currency and meltdown in Spain."

"In Berlin the two-year government bond yield fell below zero for the first time, with the bizarre result that jittery international investors are now paying – rather than being paid – for lending to Germany."
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Old 06-04-2012, 08:43 AM   #27
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Robert Zoellick also floated the idea of a gold backed currency ........
Pity he retires at the end of the month.

The clear and simple solution is massive printing on all fronts but the Pols seem unable to grasp the depth and breadth of the poo they helped create.

Suspect the banksters will eventually JFDI and let the Pols bicker about whose to blame.
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Old 06-04-2012, 10:21 AM   #28
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Quote :
Lloyd's of London preparing for euro collapse

The chief executive of the multi-billion pound Lloyd's of London has publicly admitted that the world's leading insurance market is prepared for a collapse in the single currency and has reduced its exposure "as much as possible" to the crisis-ridden continent.
...
http://www.telegraph.co.uk/finance/f...-collapse.html
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Old 06-06-2012, 01:31 PM   #29
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France wants to get to it's collapse as quickly as possible:
http://finance.yahoo.com/news/france...155335200.html

Are you in debt up to your ears because of pensions? The solution is to lower the retirement age!?

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Old 06-06-2012, 01:47 PM   #30
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Sounds like they are taking the Greek approach.
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Old 06-12-2012, 09:10 AM   #31
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Originally Posted by benjamen View Post:
France wants to get to it's collapse as quickly as possible:
http://finance.yahoo.com/news/france...155335200.html

Are you in debt up to your ears because of pensions? The solution is to lower the retirement age!?

Wow, the French are really trying to take the cake for fastest to fail!

http://www.acting-man.com/?p=17470

"Hollande's Socialist bloc looks likely to win the 289 seats needed for an outright majority in the 577-seat National Assembly in next Sunday's run-off, and almost certain to do so with its Greens Party allies, polling institutes said. "

"Apparently the new French government believes that the proper method of combating the recent 13 year high in unemployment is to make it 'as expensive as possible for businesses to fire people'."

"Once a company has at least 50 employees inside France, management must create three worker councils, introduce profit sharing, and submit restructuring plans to the councils if the company decides to fire workers for economic reasons. "

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Old 06-12-2012, 11:45 AM   #32
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...that's why there are so many <50 ppl companies in France, and actually, it is apparently quite common to grow your business by creating a new business entity, rather than to grow your original company past the magic 50 employee mark.

...did I ever told you how I hate the idiots in the governments, who always think that forcing people to do something that they would otherwise never do themselves, is the way to go?

Idiots!!!

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Old 06-18-2012, 10:12 AM   #33
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And the next to fall is Spain?
http://finance.yahoo.com/news/spanis...083959716.html

7.13% rates on 10 year Spainish treasury bonds!
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Old 06-18-2012, 11:05 AM   #34
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The next couple of weeks are going to be interesting to say the least
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Old 06-21-2012, 10:53 AM   #35
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It is bad when thieves are going after crops:
http://hosted.ap.org/dynamic/stories...RTAINMENT.html
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Old 06-27-2012, 02:07 PM   #36
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Originally Posted by benjamen View Post:
Wow, the French are really trying to take the cake for fastest to fail!

http://www.acting-man.com/?p=17470

"Hollande's Socialist bloc looks likely to win the 289 seats needed for an outright majority in the 577-seat National Assembly in next Sunday's run-off, and almost certain to do so with its Greens Party allies, polling institutes said. "

"Apparently the new French government believes that the proper method of combating the recent 13 year high in unemployment is to make it 'as expensive as possible for businesses to fire people'."

"Once a company has at least 50 employees inside France, management must create three worker councils, introduce profit sharing, and submit restructuring plans to the councils if the company decides to fire workers for economic reasons. "

What is next for France? Raise that minimum wage:
http://online.wsj.com/article/SB1000...googlenews_wsj

No one pay attention to the positive coorelation between minimum wage hikes and increases in unemployment:
http://www.unc.edu/depts/econ/byrns_...mployment.html

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Old 06-28-2012, 07:59 AM   #37
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Originally Posted by benjamen View Post:
What is next for France? Raise that minimum wage:
http://online.wsj.com/article/SB1000...googlenews_wsj

No one pay attention to the positive coorelation between minimum wage hikes and increases in unemployment:
http://www.unc.edu/depts/econ/byrns_...mployment.html

Related article:
http://www.acting-man.com/?p=17931

"Hollande insists that he won't let markets dictate his policies. He seems to believe, as though he were invested with divine powers, that the laws of economics don't apply to his government."


Nice link between France's chronically high unemployment rate with the French also raising the minimum wage even faster than CPI going back to the 90s.

The article goes on the look at France's new ideas ticking off Germany.. you know the country that is essentially bankrolling the Euro?
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Old 06-28-2012, 08:39 AM   #38
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A lot of noise so far. Gotta appease the angry masses. I'm waiting to see what they actually do.
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Old 07-02-2012, 10:29 AM   #39
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Wow, this was on CNN:
http://buzz.money.cnn.com/2012/06/29...d=SF_INV_River

"There is a lack of credibility and questions about where the money for the ESM is going to come from," said Camilla Sutton, chief currency strategist with Scotiabank in Toronto. "This plan doesn't accomplish everything and doesn't provide a plan for the type of longer-term ties that are needed. It's not a dramatic enough change to keep the euro rallying."


"Summers notes that about 30% of the ESM's capital is supposed to come from Spain and Italy ... the two nations that are arguably in most need of assistance."
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Old 07-02-2012, 10:34 AM   #40
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If this is the official unemployment rate, I wonder what it is really:
http://money.cnn.com/2012/07/02/news...m?iid=SF_BN_LN

"Spain's unemployment rate is 24.6%. the highest in the region."


How long until the citizens just start revolting?
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