Posts Tagged ‘Merkozy’

Notes From Underground: Turning Back the Hands of Time

December 17, 2012

Or, a review of why Draghi was the Financial Times’ “Person of the Year.” Here are two blogs, which are reflective of the week that was. We still find relevance in this week as it sets the table going forward as we look to 2013.

July 25–Notes From Underground: Schaeuble Proves Why 2+2=5

July 29–Notes From Underground: From Merkozy to Merde

 

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Posted in ECB, Europe | 2 Comments »

Notes From Underground: MAY 6 — A Flash Crash For the European Political Elite

May 6, 2012
Before politics, it is important to review the two big stories from Friday:
1. The U.S. unemployment data was certainly on the weak side of expectations as nonfarm payrolls came in at a tepid 115,000, very close to the ADP report. Average hourly earnings were soft, which will challenge the view of consumer demand ramping up any time soon. Yes, the unemployment rate dropped to 8.1%, but with so many people dropping out of the job market this indicator lends itself to so much POLITICAL SPIN THAT ITS USE IS BECOMING NEGLIGIBLE. Economists have twisted its meaning and therefore markets are disregarding its usefulness. The real positive in the data was the continue growth in MANUFACTURING as 16,000 factory jobs were created. Otherwise, the number was weak and will be a reason for the FED TO KEEP THE MUSIC OF OPERATION TWIST IN PLACE.
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Posted in 2012 Election, Debt Market, Europe, France, Germany, Greece | 4 Comments »

Notes From Underground: No Box Can Contain These Thoughts

April 30, 2012
First let’s dispense with the market data:
1. Tonight at 11:30 p.m. CST the RBA will announce its interest rate decision. The market consensus is for a rate CUT of 25 BASIS POINTS  from 4% from 4.25%. There are a few analysts looking for a 1/2% CUT and from looking at the near term curve inversion that is not a far-fetched concept. The overnight/2-year curve is inverted by 125 BASIS POINTS so a larger cut would help correct this inversion. (Not a bad idea for an economy that is slowing and the Aussie Treasurer has made known his desire for raising taxes to help repair the BUDGET DEFICIT that has arisen during the last four years. An anticipated 25 basis point cut be market neutral while a 50 basis point cut would lead to an immediate selloff of the Aussie dollar. More important will be the RBA‘s STATEMENT as our readers know that Governor Stevens is a very astute analyst of the GLOBAL ECONOMY, so listen for any mention of an AUSSIE FEAR OF A SLOWDOWN IN CHINA.
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Posted in 2012 Election, Europe, RBA | 8 Comments »

Notes From Underground: Greece Becomes A Trust Fund Nation

February 21, 2012

The discussion is over–ha, ha, ha–and another 3 a.m. decision is made. The Greeks will get their funding and the banks are off the hook for another short period of time. There are so many stipulations involved that it will take time to understand what really took place in the wee hours of another EUROPEAN meeting. It seems certain thought the Greeks will deposit money in escrow to assure all the “DONATING” parties that the CITIZENS OF GREECE WILL ADHERE TO THE FISCAL AUSTERITY TO WHICH THE GREEK TECHNOCRATS AND POLITICIANS HAVE AGREED. THIS IS SIMILAR TO A YOUNG ADULT HAVING TO AGREE TO CERTAIN STIPULATIONS IN ORDER TO RECEIVE THEIR TRUST FUND CHECK, or what is known as a TRUSTAFARIAN.

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Posted in Europe, Greece, Portugal | 5 Comments »