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Is this addressed to me?

Fo' shizzle... If Japan spirals away, all bets are off.

This paranoia has to stop... Nobody is attacking Spain. I f*cking hope it (and Ireland) survives, but the politicians have to stop this bullsh1t.

Ginormous QE out of the ECB is one possibility. Uncle Axel will probably need to be put in restraints, while this happens. Other than that, maybe the Chinese (through the IMF or unilaterally) step in aggressively (not punily like they did before).

Fair 'nuff, dude... I hear ya.

It's carry, innit? Interest rate parity and all that jazz...

Because US QE came to the fore for a while, accompanied by hawkish talk from the ECB... There's a sound theory behind a lower EUR and that's simply that there's a risk there will be no more EUR rather sooner than later. All that other bailout malarkey doesn't really matter, in the grand...

Here you go

EUR's problems are binary in nature. It's not about it getting stronger or weaker, but rather a question of whether it survives. At the rate the Eurozone officials are moving, I don't see it surviving, to be honest. At any rate, you, of all people, Debaser, should be aware of the risks...

So given the movements in cable while your call has been in effect, what do you think is the Sharpe ratio of your recommendation?

Spain is a real problem and so are Spanish govt's economic statistics.

UK is gonna be just fine, as Merv has his finger on the "Print" button. Debt isn't an issue, although sterling might, indeed, get a mighty spankage.

Uncle Axel is properly scared now...

Here: http://www.nakedcapitalism.com/2010/11/ring-a-ring-o-roses.html

I thought this was very funny (from Naked Capitalism) 1. Spain is not Greece – Elena Salgado, Spanish Finance Minister, ~February, 2010. 2. Portugal is not Greece – The Economist, 22nd April, 2010. 3. Greece is not Ireland – George Papaconstantinou, Greek Finance Minister, 8th...

Nobody has tapped the $1T package yet (I assume you're referring to the EFSF). As to the Germans, their commitment to the EFSF may (or may not) increase if other countries end up pulling out. Lack of clarity is one of the issues with the EFSF, in fact, so who knows.

Ireland is suffering the aftermath of a collapse of a housing bubble, which has brought down an overleveraged banking system. Whose fault was it?

The underlying structural reason is called "interest rate parity"...

'Cause there's a perception in the mkt that Greece will have to restructure, with or w/o the EU/IMF package.

I made a comment on another thread about the strength and stability of the currency union known as the US of A. I take my comment back. Looks like it's also showing signs of stress. I think this "American Thinker", David Skeel or Mark Steyn (are they the same person?), knows not what he says.