Via Disciplined Investor:
This afternoon’s drop in prices casts doubt on this report from Steve Liesman of CNBC yesterday that lit a fire under the market.
8X1 leverage and over $trillion dollars to buy junk sovereign debt:
We will learn (eventually) how accurate this proposal is . . .
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Dollar depreciation leads to higher inflation and ultimately forces foreign creditors to question their rationale and indeed their sanity for continuing purchases of U.S. Treasuries." -Bill Gross
Signs continue that European markets are getting tired. The Spanish and Italian stock markets, big beneficiaries of the sharp decline in their bond yields over the past few months are falling to the lowest since Feb 1. The European bank index is at a 1 1/2 week low after earnings reports from Commerzbank and Credit Ag (RBS bouncing although reporting weaker than expected earnings) were disappointing. This market action is in spite of the German IFO business confidence figure which rose to a 7 month high coming in a touch above expectations and Italian consumer confidence which bounced more than...
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September 27th, 2011 at 6:08 pm
Do these shills have any skin in the game ?
September 27th, 2011 at 9:14 pm
CNBC–enough said.
The German people, and apparently the German courts, will not let the politicians put the German citizens on the hook for debts of other countries.
September 27th, 2011 at 11:14 pm
This is all Horse Shit. All of these maneuvers /shoveling money for point A to point B will do nothing.
We have too much leverage in the system and they want to “levelerage 8 to 1” or some shit like that.
September 28th, 2011 at 6:59 am
All they care about is moving the market higher, that is all… nothing else really matters since to these people the market is the center of the universe.
It will probably take 8 to 1 leverage plus a Greek debt haircut of 45% to resolve the European mess w/o having a major French bank going bust. TPTB will stop at nothing to preserve the Western banking hegemony.