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So now he's saying there could be losses at the level of these regional thrift banks? Didn't Steinbrück say just last year how those German Sparkassen (regional state-owned thrift banks) were superior to the "greed-based" anglo-saxon banking system, a "shining example in global banking...

I believe they automatically (!) assume you give up your citizenship for reasons of tax avoidance if either a) your annual income is $200k + b) your net worth is $2m+ Ironic, isn't it. They pass this "hero act" in 2008, hide the "fuck the rich tax dodgers" paragraph in there and screw...

The US has extradition agreements with over 100 jurisdictions. Usually, these cover any type of criminal activity punishable in BOTH jurisdictions with jail terms of a minimum of one year. Unfortunately, tax fraud and evasion usually qualifies for most jurisdictions.

Much of the "real cost of living" is influenced directly by percentage growth of wages and disposable income (and much less by % change in gasoline prices or soybean meal). Rents, cleaning lady, getting a haircut, legal costs, pool maintenance etc. etc. Food and beverages are 15%...

Ganz should have been nominated for an academy award for that movie scene alone. Incredible performance.

There are so many inflation fear-mongers doing their job out there that I'd be very very surprised for US congress to pass any further debt-financed stimulus over the next 24 months.

This time is different?

Yea can only be "new money from the west". Can't be the trillions of Dollars the emerging economies already own and the billions they're making every year from trade surpluses.

I was in the Marbella area the other week. Designer shops were dead, not a single customer in sight. Every now and then you'd see the odd botox MILF with fake boobs window shopping, but otherwise ultra dead. Easy to get seaside restaurant spots as well. Heard very few English voices, no...

Where is Weber these days? Hiding? I thought all these "gigantic" excess reserves (which could in turn well be dwarfed by future write downs) would find their ways into newly disseminated corporate and consumer credit in "record time", sowing the seeds of hyperinflation in Europe? What ever...

Once the S&P hits 350 he should also be able to upgrade to a decent pair of leather shoes (and get rid of those $15 Chinese rubber loafers) next time they shoot a photo of him.

Japan had how many stimulus packages over the last 18 years? Half a dozen or so.

And oh boy, do us trendfollowers love all those "traders" trying to religiously fade each and every breakout/breakdown. Bring it on!

1998 + 18 (18 year commodity cycle he believe in, last peak 1980) = 2016 :cool:

I had no idea there still was a market for steel in the EU :cool:

Won't last long... right. People will stop increasing the savings rate and go right back to a credit financed spending binge? The aftermath of a 25 years of household credit mania only lasted 8 months? Debt & interest service as a % of disposable income is at a 25 year high. How will this...

Who knows, the rating outlook change on UK debt turned out to be bullish for the FTSE100 and GBP :cool:

I was wondering the same thing. How is the "certain knowledge" of the recession being over (or not) going to make Kneale and his viewers money? What's the trade? Long CL? Long ES? Short ZN? Long AUD/CAD/NZD? Long HG? The recession could well be over and all the above trades could still...

Rising unemployment + rising transfer payments (see "disposable income" in the US which is up in recent months (!) as unemployment is sky rocketing, which only means more and more government checks are being mailed 24/7 like clockwork) + below trend GDP growth. This is a cocktail resulting...

For the unemployed you mean. Yes, for them not much changed in Europe over the last 2 years. Large export dependent corporations still going to hell left and right. Still the same fat socialist government checks coming in every month.