SuddenDeath
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anyone know about "outside days" check out daily 30yr us bond chart
hereward the wake
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From Inv Chronicle
Analysts at Roubini Global Economics and Credit Suisse both estimate that Spain's banks will ultimately require a massive €250bn recapitalisation to soak up losses on bad debts (mainly property loans) - not the €40bn that Spain has talked about. It doesn't end there, either: stabilising the banking system doesn't solve the debt death spiral the country is locked into, with public borrowings expected to soar to 87 per cent of GDP by year-end.
And there is more pain to come. Even though the economy is deep in recession and the unemployment rate has trebled to 25 per cent since 2008, central government is committed to tightening public finances by 4.5 per cent of GDP this year through austerity programmes.
It's hardly a surprise that foreign investors - who own much of Spain's debt - have been heading for the exits, cutting exposure to Spanish debt from 50 per cent to 37 per cent of the total in the first quarter. They have good reason, as analysts at RBS calculate that a full-blown rescue of Spain and its banks could eventually balloon into a €450bn bail-out. With Madrid effectively priced out of long-term sovereign bond markets, France, Germany and Italy would have to backstop that vast sum.
If they did, the implications for Italy in particular would be serious. The country already stands behind 17.9 per cent of the European Financial Stability Fund, yet it's saddled with €1.9 trillion of public debt, equivalent to 121 per cent of economic output. With its economy forecast to shrink by 2.5 per cent this year and a further 2 per cent in 2013, public debt will total 137 per cent of GDP by 2014.
The EFSF's successor, the European Stability Mechanism, is not yet operational but in any case is not the answer - all this will do is subordinate other creditors and compound losses for existing debt holders.
Stock markets might be becalmed, but the bond markets are flashing red alert: 10-year bond yields have hit a four-month high of 6.28 per cent, and the spread between Italian and other eurozone yields is widening. The time is rapidly running out for Berlin - or Frankfurt - to take decisive action to stop the contagion spreading.
SuddenDeath
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Greece is being defrauded, how can those who create money out of thin air get back actual real property from spain?
hereward the wake
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Debtocracy, a new documentary film by Costas Lapavitsas, an economist and professor in London, makes the best case for repudiating the debt.According to reports, over a million Greeks have seen it on the Internet. A very well-made film, it introduces the concept of “odious debt,” established in the 1920s by Russian economist Alexander Sack. Several countries have used this concept to repudiate unconstitutional debts throughout history, including Ecuador, which only paid 20 cents on the dollar to cover its debt a few years ago. When the U.S. occupied Iraq in 2003, they inherited a $120 billion debt that Iraq owed to France and Russia. The debt was declared odious, and the U.S. did not have to repay a dime.
An odious debt conforms to three qualifications: a) The government received the loan without the people’s approval; b) The loan was spent for activities not beneficial to the people; and c) The lender was aware of the above yet lent the money anyway, thus committing a hostile act against the people of the target country.
In Greece’s case, the whole financial crisis was created by fraud between Wall Street, the IMF, European bankers and corrupt Greek politicians over the past decade. The Greek people clearly do not benefit from these loans as they merely service interest on previous loans. As a matter of fact, no real money was ever loaned. Rather, ledger entries were made marking interest payments as paid. Not a penny of the $150 billion has actually gone to help the people of Greece. Finally, the lenders were well aware of what was being done because they were complicit in defrauding the people of Greece.
SuddenDeath
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yep thats right, hereward the wake.
You are probably right about the afternoon. I've just closed my long for a loss of 14 points but I may go back in f I like the look of it.
hereward the wake
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Moving averages looking bearish now? Looking for a move below a fib retracement of 5473 ish
hereward the wake
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Moving averages looking bearish now? Looking for a move below a fib retracement of 5473 ish also a bollinger bottom band so will be interesting.
hereward the wake
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Bounced off
Actually, since I had that good win first thing, I am trying to be right a second time to-day. My low average has just crossed the high and so I am long again.
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SuddenDeath
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morning everyone
morning bustech
morning bustech
SuddenDeath
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australian market looks like forming a bear flag on daily chart
Morning SD
Not sure what a bear flag is, doesn’t sound good.
Also does Uk CPI move the FTSE or just the GBP.
hereward the wake
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Morning all. What averages are you using splitlink? I'm using 8, 21 and 34 on a 5 min chart (you can see I'm a fibonacci fan) ;-)
SuddenDeath
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if gbp moves then ftse should move also
just check the etf for australia, it has no bear flag looks very bullish
EWA = australia etf
morning hereward the wake
SuddenDeath
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hereward the wake
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Best place for them ;-)
SuddenDeath
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we love australians, u know bustech is from australia?
