Attn: 'Bad cops' Plosser, Fisher & Bullard... attn: OWSers... attn: Tea Partyers... attn: Austerity Movement... attn: all savers and hard working people the world over...
EU Sets 50% Greek Writedown, $1.4T in Rescue Fund
"There is nothing wrong with your television set. Do not attempt to adjust the picture. We are controlling transmission. If we wish to make it louder, we will bring up the volume. If we wish to make it softer, we will tune it to a whisper. We will control the horizontal. We will control the vertical. We can roll the image, make it flutter. We can change the focus to a soft blur or sharpen it to crystal clarity. For the next hour, sit quietly and we will control all that you see and hear..."
With Tim Geithner hard in their ears the whole while, Europe's Ministers of Inflationary Excess have come to the rescue in sanitizing the Greek mess. To make everyone feel real warm and fuzzy for the holidays, it comes at the dawn of Wall Street's bonus season (expect it to be a little less high profile this year) and bonus seasons for financial services people the world over.
We are on a rally, EFSF puts Europe to bed for a while, and best of all, the US Fed now holds the status of follower rather than leader, should it need to bail something out in the wake of Greece. And speaking of Greece, might we think this is a precedent? How about all the other leaks in the dike waiting to spring? Oh wait, they are going to get "a commitment from Italy to do more to reduce its debt". Ha ha ha.
Right in the light of day and in the face of OWS and the other US and global movements to stop the insanity of out of control government meddling in economic affairs, Europe does exactly that on a grand scale. They would sustain the bull rally and give the impression that something is fixed.
In reality, they very likely just made the EU much weaker as the other weak links now have a precedent to look forward to. Italy, Spain, Ireland? Who's next at the free munny trough? And the US, which has shown how its done since 2008, stands ready now to follow in the wake of Europe should any err... problems, spring up.
Jonathan and I were 'talking' in the darkest moments of 2008 about inflationary responses and his comment was "it's inflation all the way, baby". That has stuck with me. When he is not being poetic, he is very direct.
Gold getting dinged this morning because of its safe haven bid? Well, most of the safe haven knee jerk numb nuts have been purged from the relic over the last several weeks. Those fixated on the USD as the anti-market, get off that already. The Euro just stepped up to the big leagues along with Uncle Buck.
We have a world of utter basket case paper currencies and the powerful clerks and assorted robots that supposedly steward them. This is bond default and asset appreciation at all costs. This is Wall Street (easy target, I know) and Brussels flipping the bird to the world and you'd better be on the right side of what they are preparing.
http://www.biiwii.blogspot.com
http://www.biiwii.com
SCREW YOU!
"There is nothing wrong with your television set. Do not attempt to adjust the picture. We are controlling transmission. If we wish to make it louder, we will bring up the volume. If we wish to make it softer, we will tune it to a whisper. We will control the horizontal. We will control the vertical. We can roll the image, make it flutter. We can change the focus to a soft blur or sharpen it to crystal clarity. For the next hour, sit quietly and we will control all that you see and hear..."
With Tim Geithner hard in their ears the whole while, Europe's Ministers of Inflationary Excess have come to the rescue in sanitizing the Greek mess. To make everyone feel real warm and fuzzy for the holidays, it comes at the dawn of Wall Street's bonus season (expect it to be a little less high profile this year) and bonus seasons for financial services people the world over.
We are on a rally, EFSF puts Europe to bed for a while, and best of all, the US Fed now holds the status of follower rather than leader, should it need to bail something out in the wake of Greece. And speaking of Greece, might we think this is a precedent? How about all the other leaks in the dike waiting to spring? Oh wait, they are going to get "a commitment from Italy to do more to reduce its debt". Ha ha ha.
Right in the light of day and in the face of OWS and the other US and global movements to stop the insanity of out of control government meddling in economic affairs, Europe does exactly that on a grand scale. They would sustain the bull rally and give the impression that something is fixed.
In reality, they very likely just made the EU much weaker as the other weak links now have a precedent to look forward to. Italy, Spain, Ireland? Who's next at the free munny trough? And the US, which has shown how its done since 2008, stands ready now to follow in the wake of Europe should any err... problems, spring up.
Jonathan and I were 'talking' in the darkest moments of 2008 about inflationary responses and his comment was "it's inflation all the way, baby". That has stuck with me. When he is not being poetic, he is very direct.
Gold getting dinged this morning because of its safe haven bid? Well, most of the safe haven knee jerk numb nuts have been purged from the relic over the last several weeks. Those fixated on the USD as the anti-market, get off that already. The Euro just stepped up to the big leagues along with Uncle Buck.
We have a world of utter basket case paper currencies and the powerful clerks and assorted robots that supposedly steward them. This is bond default and asset appreciation at all costs. This is Wall Street (easy target, I know) and Brussels flipping the bird to the world and you'd better be on the right side of what they are preparing.
http://www.biiwii.blogspot.com
http://www.biiwii.com
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