Germany is coming to their senses. They have run their country the right way, while the PIIGS have lived far above their means for decades. The entire European Union rests on the back of Germany. They’ve bailed out Ireland. They’ve bailed out Greece. It looks like they are going to tell Italy to fuck off. Most people don’t realize how big Italy is. They have the 8th highest GDP in the world. Their GDP is $2 trillion. Germany’s is $3.3 trillion. Germany will bankrupt itself trying to save the Italians. Plus, Germany knows that Spain is in worse shape than Italy. They have the 12th largest economy in the world.
If Germany is balking, then European stocks will crater on Monday. Asian stocks will crater in anticipation that Europe and the US markets will collapse on Monday. The earliest indication we have is Saudi Arabia, whose market is down 5.5%.
You can bet that the phone lines are buzzing between Timmy Geithner, Bennie Bernanke and their friendly puppet master CEOs – Lloyd Blankfein, Jamie Dimon, Vikrim Pandit, Ken Lewis, John Mack. These are the people trying to retain their wealth and power. They DO NOT care about you, the country, or the long term best interests of our nation. They care about their billions. This is a game to them. They are agreeing on a plan of attack to manipulate the markets on Monday.
It is highly likely that the markets will plunge at the opening as a knee jerk reaction to the S&P downgrade. The criminal Wall Street banks will then instruct their computers to buy stocks and an unbelievable rally will commence. This is supposed to pump confidence back into the investing public. CNBC will do their part and tell you to buy the fucking dip. This is all a show.
The S&P downgrade should have happened two years ago. The US is a bad long term credit. We will default by printing money and paying interest to gullible foreigners in worthless pieces of paper. The US economy is in recession. Stocks fall 40% during recessions. The wheels are coming off this bus. It doesn’t matter whether stocks finish up or down on Monday. They will be at least 30% lower in the next year. You can Buy the Fucking Dip or you can focus on the facts and the truth.
It Just Went From Bad To Far, Far Worse As Germany Says Italy Is Too Big For EFSF To Save, Refuses To Carry Euro Bailout Burden
Submitted by Tyler Durden on 08/06/2011 12:20 -0400
Remember when we said (yesterday) that Germany will soon balk over the fact that it is pledging its entire economy to bail out an insolvent Europe? Well, that moment has come.
Dow Jones just hitting the tape referencing Spiegel
- German Govt: Italy Too Big For EFSF To Save – Spiegel
- German Govt: Doubts Whether Tripling EFSF Would Help It Save Italy
- German Govt: Italy Must Make Savings, Reforms To Exit Crisis – Spiegel
- Italy Debt Guarantee Could Raise Doubts Over Germany’s Finances – Spiegel
- German Govt: EFSF Should Only Help Small, Mid-Size Countries – Spiegel
As a reminder, yesterday’s stopgap announcement by the ECB to expand its SMP purchases of secondary market Italian and Spanish bonds was merely as a precursor to full EFSF monetization until its comes fully online in September (or sooner) in a vastly expanded format (between €1.5 and €3.5 trillion).
If Germany is now against this, which appears to be the case, it pretty much means, well, game over.
Add the uncerainty over the unwind of the Europe rescue “gamechanger” as one of the more naive CNBC anchors said yesterday, and Monday is now guaranteed to be a bloodbath.
As for those saying China will gladly step in and fund a $5 trillion EFSF shortfall, they may want to read the following article from Reuters:
Italian Economy Minister Giulio Tremonti said on Thursday that Asian investors are reluctant to buy Italian bonds because it sees they are not being bought by the European Central Bank.
Speaking at a news conference, Tremonti also said it would be desirable for the central bank to follow the lead of the Japanese and Swiss central banks in taking expansionary steps to tackly the euro zone’s crisis.
“I note that the Bank of Japan today launched quantitative easing and the Swiss cen bank cut rates to zero, we are waiting for decisions if possible, but desirable (from the ECB),” Tremonti said.
When you talk to Asia they say: “We don’t understand what Europe is,” he continued. “The second point is that they say ‘if your central bank doesn’t buy your bonds, why should we buy them”?
P.S. Time to unwind that Bund short we suggested yesterday. In fact, if true, it is time for a big rush to safety.
Jim..if you want some good stuff…go to this web site…order the Bioplex Whey protein powder…5 pounds for about 70 bucks…..it’s the best stuff on the market and it’s not loaded down with extra shit in the ingredients. I’d buy a vacuum packer from FoodSaver and pack a lot of this stuff in small packets for traveling.
Have you loaded up on vitamins ?
http://www.physicaladdictions.com/Proteins/Whey-Protein/Pure-WPI-Isolate-Whey-5-Pounds
“Why is it Kerry always seems to want to interrupt people during their timed speeches?”
Because he was, is and always will be a self centered prick.
Doc: looks like a pretty good start. But a bunch of AR15s pretty much sucks. Diversify. Get a real MBR, something in 7.62X51. My favorite is the M1A in any of its variances. Ultimately a .50BMG will round out your gun safe. Only kidding! Whatever floats your boat is OK. I’ll say one thing, you have a shit-load of mags. Keep yo’ powder dry, looks like we might need it.
If we make it to Christmas, I’m asking Santa for one of these.
http://www.youtube.com/watch?v=lUe4NWiOq5A&feature=related
Buckhed – I wouldn’t have that many mags either. Most of my stockpile stays on stripper clips and I rotate loaded mags every few weeks to keep the feed lips from cracking. I’ve recently become a huge fan of Magpul’s PMAG’s though – they’re cheap (as low as $12 for a 30rd) and have a cover plate that depresses the rounds just enough to relieve tension on the mag body. No problems feeding or dropping free and polymer so now worries about corrosion in the long term. The first one came with the new MP-15 I picked up a few weeks back and I’ve since ordered 5 more to add to the stash. Getcha a few!!
Ragman…the M1A format is spot on,I have a buddy who has a tricked out M14….dang thang is a tack driver but he spent a lot of bucks on upgrades….it’s not an out of the box weapon.
Some small companies are making excellent AR’s…..Spikes Tactical is one.
fwiw imho – Jeezus… you think they’d combine shipping if we ordered a few at a time? Like a TBP Special Edition?
If you have the money…this is a killer hand gun. 30 round clips are available and it YOU are capable, it can hit a target at 100 meters with ease.
http://www.fnhusa.com/le/products/firearms/family.asp?fid=FNF003&gid=FNG001
Eclip…Magpul makes good stuff
And They’re Off!
dow futes open down 266 and falling. s+p off 30, but rising a tad. gold 1687.
(you see, monday morning starts at 6pm sunday evening. these are american futures markets. they stay open from now ’til close friday afternoon, except for a 15 minute lockup each day at 4:15pm.)
I’ve got my old AR-15 from my army days. A lot of guys bought their own ( semi of course) so they didn’t have to dirty their GI one in the field. Also an AR-7 survival.22. Don’t think I’ll need anymore than that but what I would like is some explosives to make suicide chihuahuas.
You see, I’m basically a coward. But chihuahuas aren’t as we all know. They’ll come after your ass even though you outweight them 20 to 1. If there are some bad dudes prowling around my house in the Mad Max era, who knows what weapons they have or how many there. I don’t want to find out so why not ‘deploy’ a suicide chihuahua. A human seeking yapping sentinel loading with C-4! He’s small and fast so very tough to hit and he’ll close with the enemy no matter the odds. When he gets close you detonate him and that’s that. They don’t eat much either and I’ve never met a guy who really liked a chihuahua so its unlikely you’d grow attached to your ‘arsenal’.
Scott, Brilliant. You can usually find free ones on craigs list… just saying…
ecliptix543:
I’ll remember the cookies and milk. I came down the chimney, there was a bear trap in the fireplace, now I’m at the ER getting my ass stapled back together.
Bloomberg covers all Asian markets, NZ and Australia. Should be good entertainment tonight.
AU up +36, But it ended Friday at 1666, and now at 1688, that is up +22. Not going to be a nice Monday.
Slow down, you are going to fast, this is starting scare my aged ass.
I have to post this again. “John Smith” got 48 thumbs down for saying the same thing a White House spokesman said on American television today. Once again I ask you, where is the outrage and angst? How stupid does the president think we are?
White House adviser blames tea party for downgrade
WASHINGTON (AP) — A top White House adviser is blaming the downgrade of the U.S. credit rating on tea party Republicans, whom he says were unwilling to compromise on how to reduce the federal debt.
The adviser to President Barack Obama, David Axelrod, tells CBS’ “Face the Nation” on Sunday that the decision by the Standard & Poor’s credit agency to downgrade the U.S. from AAA to AA+ for the first time was strongly influenced by weeks of standoff between Democrats and Republicans over the debt.
Axelrod calls the action, in his words, “a tea party downgrade” and says it’s clearly on the backs of lawmakers who were willing to see the country default to get their way.
Axelrod also criticized GOP presidential candidates for not speaking up in favor of compromise.
Market situation looking dicey:
Ten Year Treasury rates up 17 basis points.
Gold up $36
Dollar falling and approaching lows set in 2008
Dow Futures down 260
Sorry about the bear trap in the fireplace… the poison darts weren’t doing the job so I had to upgrade my Autonomous Remote Security Enhancements (ARSE) to something more.. graphic. And, it’s not milk. It’s beer. Johnny Walker Gold would do the trick too – two bottles will get you the codes to my ARSE…
buckhead: I just got a Spikes for my birfday. Bare bones, probably weighs 5 pounds but it is an awesome rifle. I put flip-up metal sights on it(LaRue via Troy) with a trijicon dot up front. I’ve been thinking of an optical sight but it is so slick the way it is, I just don’t know. Good shooting and keep yo’ powder dry! M1A is indeed expensive but well worth it!
Congrats on the Spikes, ragman! Have you heard of the new Open Tip Match penetrator rounds being issued to the guys over on the sandbox? It’s a 62gr just like the regular SS109, but the jacket is reverse drawn so it ends up with a tiny hole in the front and a solid copper base instead of steel. I have two boxes on order for testing purposes… They’re allegedly designed to be barrier-blind and hold a much better terminal trajectory after passing through glass or light steel. Also said to be optimized for the standard M4 profile 14.5″/16″ barrel. If you want, I’ll keep you posted on the testing results…
ecliptix: please do. I understand the 55grain doesn’t do too well going through glass or light metal. Better get all we can before the Kenyan gets re-elected.
Do a quick search for 5.56 Mk318 Mod 0. There is already a metric assload of ballistics data on it, including a pdf of the bid request/contract from DoD that you can read. Cheaper Than Dirt has them, Silver State Armory has better prices but are out of stock at the moment…
suicide chihuahuas. so wrong. so brilliant. i’m gonna remember that handy home defense tip.
Call me a politician again and someone just might find out I can take em in a fist fight! I was endorsed by Ron Paul and Sheriff Mack, I am not running again though website is still up from last election. I fear we are too far gone to get our Republic back by election. I agree politicians are lower than whale shit
@Delia
oooh – good start 🙂
While most commentators here are poo flinging monkeys, provided you can keep up and not say anything too stupid, you’ll normally eventually gain their respect. You can tell you’ve gained their respect when they insult you more often – it means they know you can take it.
I don’t seem to be the target of much airborne biological waste product, this may be because they don’t respect me, maybe because they’re afraid of Australians, or perhaps because the average punter here cannot understand sentences that have words like ‘colour’, ‘gaol’, and ‘realise’ spelt correctly.
You mean ‘Spelled’ correctly? Such a dishonourable display of Aussie grammar skills… jackass… 😉
Lower than whale shit – Thats some pretty bad stuff – The only thing worse is alligator shit.
@ecliptix – no, I mean spelt – as in the past tense of the word ‘spell’
link – http://dictionary.reference.com/browse/spelt
I believe that’s a point to me 🙂
I shall blatantly disregard the link to a dictionary that is obviously corrupted. Aussie spellings don’t count as long as the dictionary is upside down and you guys still insist on driving on the wrong side of the road!!
(I got to live in Townsville, QLD for about 3 months a few years back. I’d drop my shit here and move in a second if I had the resources and a permanent residency visa…)
It’s black monday for the banks.
Bank of America: -16%
Citigroup: -10%
AIG: -8%
Some mention of another TARP will be needed. Talk about another tipping point. Ouch. AIG selling credit default swaps like hot-cakes, with rates going through the ceiling, especially on Bank of America. Can you say 2008 all over again? Oh wait, the deficit is now $14.5 trillion, good luck getting any more TARP money. Or will they bring back fireball Hank Paulson to con the Congress and taxpayers? When those European CDS’s come due, it’s going to be every man for himself, head for the hills, kiss your ass goodbye.
Can’t wait to here what Obama is going to say; let me guess, the fucking Tea Party caused all this, and Republicans. The markets would go up 200 points if he simply admitted mistakes were made, admitted responsibility, and grew a pair and became a fucking leader. No chance of that happening.
Admin: this post/thread needs to be back on top. It’s monday, the topic is black monday, how bout it?
@ecliptix
You lived in Townsville?
I’m so very sorry for you. Townsville is a horrible place.
Next time you make it up here where people stand the right way up try a bit further north. Sure there’s more crocodiles, cyclones and stingers, but the beaches are better. My missues and I spent a month around christmas/new year camping on a few islands on the Whitsundays.