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There are a few huge events: First, PMI day begins tonight. We get Chinese PMI tonight, and then European PMI numbers on Monday, while the US is off for labor day. Then on Tuesday, the US returns from summer, and we our first test of whether market volumes pick up. We also have the US ISM and construction spending. The Democratic National Convention also starts on Tuesday. On Wednesday, it’s a tad quiet, with PMI Services reports [...] https://twitter.com/zerohedge/status/238980359440695296 The market was just starting to digest the schizophrenic Durable Goods data when chatter broke of the German FINMIN discussing a ‘temporary’ GRExit. In other words, just like Mario Draghi could transmogrify the twilight zone into reality during Merkel’s vacation, and spread unfounded rumors that Europe is fine, now that the Chancellor has returned, the rumors take on the other side of the equation, and the mice no longer can [...]
Rank 1 2 3 ^ 4 5 6 * 6 ^ 6 ** 6 * 10 10 12 12 ** 12 12 ** 16 16 16 ** 19 19 19 * 19 19 19 * 25 25 25 28 28 ^ 28 28 32 ^ 32 34 34 36 36 36 * 39 40 41 41 ^ 41 * * the full list : http://sq.4mg.com/NationIQ.htm Daniel Hannan To grasp the sheer unfairness of the euro system, consider Slovakia. For a few days last October, this nation of five million defied the might of Brussels. Its MPs refused to approve the bail-out fund, arguing that it was wrong for prudent countries to be fined so as to reward profligate ones. The EU promptly turned its hideous strength against the plucky Carpathian republic. Within five days, [...] 1) Andorra
- Envey Austria public debt $306.5 Billion 72.1% of GDP External debt $883.5 Billion208% of GDP…Government surplus/deficit -$22.2Billion Trade deficit/surplus -$2.4 Billion Largestconsumer of exports Germany 32% Italy 7.9%…largest supplier of importsGermany 44% Italy 6.8% Oil deficit/surplus -248,310bbl/day Belgium public debt $527.4 Billion 99.7% of GDP External debt $1,399 Trillion264% of GDP…Government surplus/deficit -$15Billion Trade deficit/surplus -$0.4 Billion Largestconsumer of exports Germany 19.1% France 17%…largest supplier of importsNetherlands 19.1% Germany 16.4% Oil deficit/surplus [...] *T European politics has become a giant Jenga game. Since June 2010 governments have fallen in the Netherlands, Slovakia, Belgium, Ireland, Finland, Portugal, Slovenia, Greece and Italy. Here’s How You’ll Know If The Financial System Is About To Implode Yesterday we mentioned the big spasm of “end of the world” analyst notes, as suddenly more and more people on Wall Street conclude that [...] European politics has become a giant Jenga game. Since June 2010 governments have fallen in the Netherlands, Slovakia, Belgium, Ireland, Finland, Portugal, Slovenia, Greece and Italy. Here’s How You’ll Know If The Financial System Is About To Implode Yesterday we mentioned the big spasm of “end of the world” analyst notes, as suddenly more and more people on Wall Street conclude that [...] Elevated levels of the radioactive element iodine-131 that were detected in several nations have been identified as likely originating at a Hungarian research institute, nuclear authorities said Thursday. The institute has acknowledged emitting higher quantities of iodine-131 than normal but denies being the source of any elevated radiation. “Radiation levels in [...] From Peter Tchir of TF Market Advisors On the bright side… EFSF is targeting having some real documentation sometime in the next month or so. The IMF is looking at some options to be able to set up short term credit lines more quickly. Think anyone there wishes they had something implemented already? There is no way the EFSF gets anything new up and running in a short timeframe. From the documents [...] Slovakia’s opposition leader says the deal to approve expanding the EU bailout fund has been reached and it will be voted in later this week. Earlier, the country’s parliament voted against it, which caused the collapse of country’s ruling coalition. Slovakia was the only member to say ‘no’ to increasing the facility, which already got the green light from 16 of the 17 Eurozone [...] Just a few headlines Slovakia fails to agree on eurozone rescue plan By William L. Watts FRANKFURT (MarketWatch) — Slovakia’s Freedom and Solidarity party said it won’t participate in a Tuesday vote on revamping the 440 billion euro ($601.2 billion) European Financial Stability Facility, likely leaving the ruling coalition short of the votes needed to win approval. Earlier, Prime Minister Iveta Radicova tied the vote to a no-confidence motion in the government, upping pressure on Freedom and [...] Image: Wikimedia Commons After yesterday’s vicious rally in the US and Europe, markets are sliding again. Italy is off about 0.5%. France is off 1%. US futures are off a bit under 1%. The story of the moment: Slovakia. When and will it pass the EFSF. Developments coming hot and fast on this one. Stay tuned. Image: Wikimedia Commons Having failed so far to cobble up enough votes in order to approve the expansion to the EFSF, [...] Telegraph Will Greece repay a cent of its €109 billion bailout? It has been some time since anyone in financial markets took seriously the concept that Greece might eventually repay its debts. Outright default was priced in, and the debate moved on to how big the default would be. The July 21st Greece II bailout agreement envisaged a default equivalent to about 21 per cent for participating bonds, but [...] Greeks Yank Billions Out Of Country’s Banks As Crisis Worsens (Mish)
He gives a link to the translation. The translation is bad, but easily understood. =============================== Debt Talks Pressure Greek Bonds “Greek two-year spreads over corresponding German treasury notes, or schatz, were up 0.114 basis points at 23.168 percentage points by late morning in Europe. Further down the curve, Italian and Spanish yield spreads have widened more than Greek yield spreads as Italy [...] AP File Photo Coalition Forces / Iraq vs. Libya
Coalition Countries – Iraq – 2003 Afghanistan, [Source: US State Department] Coalition – Libya – 2011 United States - Fox news
Slovakia Leaving EU? Newcomer Nation May Be Looking For Exit, 30 December 2010, by Karel Janicek and George Jahn – Bratislava (The Huffington Post) http://www.huffingtonpost.com/2010/12/30/slovakia-eu_n_802590.html Italy’s debt costs approach red zone, 29 December 2010, by Ambrose Evans-Pritchard (The Telegraph) http://www.telegraph.co.uk/finance/financetopics/financialcrisis/8230413/Italys-debt-costs-approach-red-zone.html Greek 10 Year hit a whopping 12.55% today (12.484 now) 30 Dec. 2010, http://www.bloomberg.com/apps/quote?ticker=GGGB10YR:IND The ECB is deflowered, Maastricht raped and the Euro verdrachmet , 28 December 2010, by Geert Noels (Econoshock) (google [...] The UK is slipping behind its international rivals in the number of graduates, according to a report. Between 2000 and 2008, it fell from third highest to fifteenth among top industrialised nations for the proportion of young people graduating. * 1 – Finland (63%) (And don’t forget this is just 80Bln euros, compared to the 750Bln (of whcih 440Bln is put together in the same way) 80Bln Greek aid components: Slovakia 0.8Bln Portugal 2Bln (2.9% of [...] (no joke) Germany : 27,93 % France : 20;97 % Itally : 18,43 % Spain : 12,24 % The Netherlands: 5,88 % Belgium : 3,58 % Austria: 2,86 % Portugal : 2;58 % finland : 1,84 % Ireland: 1,64 % Slovakia : 1,02 % Slovenia: 0,49 % Luxembourg: 0,25 % Cyprus: 0,21 % Malta: 0,09 % Ooooh my god…. - adventure |
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