Posts Tagged ‘credit crisis’

Notes From Underground: Oh Where Oh Where Can Tim Geithner Be, Oh Where Oh Where Can He Be?

December 12, 2011

Last week, Secretary Geithner was in Europe prior to the SUMMIT in an effort to influence European policy makers. The Obama administration has been trying to impress upon Europe’s key planners that it was of the utmost importance to get ahead of the CREDIT CRISIS and stop solely reacting. It seems that the U.S. Treasury Secretary failed miserably to convince Merkel and the others that the BIG BAZOOKA needed to be fired. As usual, the EUROCRATS tried to FOOL the financial markets they disdain. Chancellor Merkel has openly stated that she will not be coerced by an UNELECTED FORCE CALLED THE MARKET.



December 7, 2011

Thursday, DECEMBER 8 will it be a day that lives in INFAMY. The Bank of England will be the first mover tomorrow morning as the BOE announces its interest rate policy at 6:00 CST. It is expected that Mervyn King will direct the MPC board to keep rates steady and to keep the QE program at its present 275 BILLION POUNDS. At 6:45 CST the ECB will announce what it plans to do amidst the turmoil. Most analysts expect a 25 basis cut as Mario Draghi undoes the second inane rate increase promoted by Trichet. The more important factor will be if the ECB announces some type of ECB large-scale asset program in an effort to mirror the FED and BOE.


Notes From Underground: Mr. Market to Jean Claude Trichet … CA​N YOU HEAR ME NOW

August 4, 2011

Today’s market meltdown has rendered tomorrow’s employment data from the U.S. and Canada meaningless, but in a more Marxian sense, superfluous. The damage done from the Europeans inability to face the reality of a CREDIT CRISIS is beginning to create high anxiety in all global markets. The theoretical basis for MUDDLING has been exhausted and it is time for real action.