The Market Ticker
Commentary on The Capital Markets- Category [Flash]
2015-06-29 15:09 by Karl Denninger
in Flash , 191 references
 

Oh please.

The current horsecrap being run on CNBS is that the Euro bounced hard and this means that "Europe and the Euro are fine if Greece leaves."

Nope.

Defaults are deflationary.  Big defaults (and this one is €300 billion, roughly) are very deflationary as they withdraw "moneyness" that spends exactly as does capital from circulation.

The market is telling you that the €300 billion Greece "owes" is in fact worth zero.

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2015-06-26 08:21 by Karl Denninger
in Flash , 235 references
 

"I will not be blackmailed."

"I will not be blackmailed!"

When that's what the two sides of a negotiation both say you've got a problem.

And that's what they're both saying.

Here's the problem -- Merkel has the weak hand; by allowing both her banks and her central bank (and yes, the ECB is Germany's central bank since they're the "paymaster") to take on roughly 150 billion Euros of Greek debt through the game-playing perpetrated via the LTRO and similar nonsense Herr Merkel now has the gun in her own mouth and her own hand on the trigger.

This weekend ought to be quite amusing.....

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2015-06-24 16:43 by Karl Denninger
in Flash , 207 references
 

If you're wondering who got the Senate over the 60 vote threshold, well, it could be any of the 60.

But one, Marco Rubio, is trying to be President.

I'm sure the 250-odd Disney IT employees who were effectively forced to train H1B replacements (oh yeah, H1B visas are, as Disney and others maintain, only for jobs you can't get US citizens to doand then were fired will be appreciative of giving even more US jobs to foreigners.

Remember come November folks; they're all a bunch of sell-outs and don't give a damn about you.

Where's God hurling (small) asteroids at the Halls of Congress when you need him?

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I have nothing to add to this -- except burn the phone lines in these offices to a crisp!

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