Bundesbank, Bank of Italy, Bank of France confirm buying government bonds today

Quote from Ivanovich:

"... Take Greece, for instance. I'm truly interested in hearing anyone who believes that Greece will actually be successful in it's austerity programs.
More...

Not a chance. This $1Trillion package just gives the EU cover for coming weakness in the rest of the PIIGS, et al... they'll be "bidness as usual" until they run through the money.... then, they do it again.
 
Quote from Ivanovich:

Don't these countries that are forced into additional fiscal tightening actually have to tighten before it's destruction?

I rank that success rate up there with the OPEC cartel's "we're all cutting supply" (and then they all don't cut supply because they want to sell more oil individually but not publicly say so).

Take Greece, for instance. I'm truly interested in hearing anyone who believes that Greece will actually be successful in it's austerity programs.
More...
Well, arguably, Ireland, Spain and Portugal have tightened and are continuing to move in the right direction... For some anecdotal evidence, look here: http://www.telegraph.co.uk/news/wor...-the-Irish-are-facing-up-to-their-plight.html

Greece is, of course, a special case... Maybe they need a terminally ill finance minister and union leaders who can face reality.
 
Quote from Ivanovich:

So much for remaining vigilant on price stability! Print, Axel! Prrrriiiiiiinnnntttt!
More...

The powers that be have shown they will do absolutely everything in their power to keep this bubble inflated and keep everybody spending more than they have. If there was any doubt about that, it's gone now. Time to print & spend money with both hands.

May you live in interesting times. Holy moly. This whole thing will a chapter in every econ text a few generations from now.
 
Quote from Ivanovich:

Don't these countries that are forced into additional fiscal tightening actually have to tighten before it's destruction?

I rank that success rate up there with the OPEC cartel's "we're all cutting supply" (and then they all don't cut supply because they want to sell more oil individually but not publicly say so).

Take Greece, for instance. I'm truly interested in hearing anyone who believes that Greece will actually be successful in it's austerity programs.
More...

Greeks prefer austerity cuts to bankruptcy, poll shows

http://economictimes.indiatimes.com...bankruptcy-poll-shows/articleshow/5909477.cms
 
Quote from Martinghoul:

Well, arguably, Ireland, Spain and Portugal have tightened and are continuing to move in the right direction... For some anecdotal evidence, look here: http://www.telegraph.co.uk/news/wor...-the-Irish-are-facing-up-to-their-plight.html

Greece is, of course, a special case... Maybe they need a terminally ill finance minister and union leaders who can face reality.
More...

Ireland's a special case the other way. They're pretty used to being poor and their bubble has been deflating. IMO, it looks like Ireland will make corrections, Greece will fail. Portugal's pretty small. So the question becomes, what about the two big PIIGS? I dunno.
 
Quote from TGregg:

Ireland's a special case the other way. They're pretty used to being poor and their bubble has been deflating. IMO, it looks like Ireland will make corrections, Greece will fail. Portugal's pretty small. So the question becomes, what about the two big PIIGS? I dunno.
More...
Well, Italy's current budget deficit is smaller than that of many other Eurozone countries, so, in terms of their burn rate, they're not doing too badly (in fact, Italy should be running a primary budget surplus this year). They have also done a lot more than other Eurozone countries in terms of pension reform and Italian households and corporates are some of the least leveraged in Europe. Italy's problem is the stock of govt debt currently outstanding. On the other hand, Spain is a big concern, for sure.
 
You must log in or register to reply here.
Back
Top