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Yep, so a crisis becomes not only a wasted opportunity to improve matters, but actually makes things worse. Given that it happens every time and we're still incapable of learning the lesson, what does that make us Westerners?

Yep, I am completely with you on this, denner... Personally I believe that entities like Citi and BoA should not have been allowed to exist in the first place. When the crisis hits, as demonstrated by history time and time again, the govt and the public are powerless. Therefore, even though...

Yes, of course... The fundamental fact of the matter is that the system and all of Western society is addicted to leverage. What often happens to an addict that is forced to go "cold turkey"? In order to avoid a possibly calamitous outcome, the govt has to expand its balance sheet to, in...

I have seen this effect occasionally in Bunds. It's not smth I would call "statistically significant", so wouldn't bet the farm.

For sure, sle. Hence, it's a bit of an art, not a science. That is why I try to combine whatever RV malarkey I do with being long some outstrikes, if I can get hold of them cheaply. Obviously, it's not always possible. Another way I deal with these things is size them accordingly...

Difficult question... There's positive aspects to both ways and, as usual, the truth is somewhere in the middle.

There's the true wisdom for y'all option losers... Read it and weep, 'cause the God of Mkts has spoken.

I knew it!!! It's a conspiracy, an international cabal of staggering proportions! Justin Beaver is Britney Spears! They're actually the same man/woman/boy/alien (take your pick)!

I do it... Why not? It can be fun, if you have time for it...

Need I say more? I think not...

Thx for answering my question... Personally, I think you're completely wrong. It ain't the Fed. It's the extraterrestrial aliens and their spiritual leader, Britney Spears. They're the ones manipulating the mkt.

Are you for real?

Yeah, I know what happened in JGBs today, although I think it's happened a few times this week, but it didn't help treasuries. Generally, I am an RV guy, rather than a macro punter, so a) I don't do a lot of outright directional stuff; b) I normally add as the trade moves against me; c) I...

Haha, I like where you going with this... I just got so long, I can't see straight.

Why not 3+% in Dec13? Besides 10% of that is basis + turn.

Real insight from ZH? I haven't yet witnessed anything of the sort... Most of the crap they post is just that, crap.

USD - still the best looking horse at the glue factory... Likely to remain that way for a while. Moreover, why do you need to specifically position yourself for it, unless you have some major foreign ccy liabilities. Or is this a question about how to trade this, in a speculative sense?

Of course the question has been asked... My fav take on the matter is the excellent article by Simon Johnson, "The Quiet Coup". You can find it here: http://www.theatlantic.com/magazine/archive/2009/05/the-quiet-coup/7364/ However, as usual, talk is cheap and it seems like nothing's gonna...

Actually, I completely agree with you... As I mentioned in another post, I am not applying random moral standards to what happened in the 90s. Like you I also happen to think that, regardless of how it actually came about, things are a lot better now than they used to be, for exactly the...

Well, I am not saying RBS is in a great shape or anything (Lloyds is actually a lot worse), but RBS has frenemies in high places (specifically, Swervin' Mervyn will make sure nothing bad happens to them on his watch, until he manages to break them up). Generally, Italian banks look a lot...