EURO DOOM: Spain's Debt Downgraded; Portugal, Ireland and Greece Interest Rates Hit Fresh Highs

Hey, Moody's rated all of that subprime shitty garbage as AAA -- the highest rating -- but at least they gave it their best shot!

Friday will be the day of truth. There will be a meeting in Brussels to discuss the future of the Euro.

Finland already decided to not authorize further loan guarantees:

[link to online.wsj.com]

Finland has got balls, we got Merkel...


There were also discussions today in the German parliament about this topic. Merkels conservative party is supporting further guarantees, while their liberal partners are against further guarantees. There is a serious chance that this will destroy Merkels coalition.

Doom is coming. Take that to the bank. I would not worry about Spain just yet. Greece is literally weeks away from defaulting.

"Greece, a member of the EU and now infamous "PIIGS," simply can't seem to catch a break these days. Austerity measures have proven counterproductive and now last night's latest SEC filing is seen by many investors as a last ditch effort to stave off the inevitable.

Just yesterday, the 8th of March, the ratings agency everyone loves to hate- Moody's, downgraded Greek debt another 3 notches to B1 ("Junk grade", below investment grade) on fears the austerity measures currently in place simply aren't enough to bring spiraling Greek debt under control or to be able to meet EU/IMF bailout requirements in the future."

[link to fiatsfire.blogspot.com]

Yeah, things do not look good for Greece and Ireland is looking to throw in the towel on the EU. Not good for the EU, not good for the global economy at all. We should be very worried. So there is your doom for the day.

GOOD FOR FINLAND! WELL DONE!!!!

AMEN! You nailed the nail on the head! The US is broke, but the EU is even broker since they still ask the U.S. Fed for money!

Everyone is talking about asteroid doom, pole shift doom, alien doom, volcano doom but the real doom is going to be the financial collapse. We have become a stupid greedy species. That will be our downfall.

But you Europeons have to help us invade Libya -egypt iran syria SA so we can have cheap oil here in the states.

Didn't you get the Obama memo from Shillary.

We borrow the money from you and make our debt cool (improving economy) and then repay you with our printing press money.

Bernanke said it will work. He did ...

The main problem with Greece and Ireland is the realization (the now obvious realization) that these bailouts are not only worthless, but they're counter-productive. Why would the German citizens continue to want to fund these fucked up bailouts? The dominoes are falling ... and it spells DOOM!!!!

Perhaps very soon Merkel's already fractured and splintered coalition will fail. But even if she can retain support, for how much longer will this last, and at what cost to the German citizens?

How can Germany be a productive nation......I was there with my wife 3 years ago and they take more breake and time off than you can shake a stick at....ALL the fucking stores in Munich were closed from 12 to 3 and it was pouring and I could'nt even buy a rain coat...........

Well you can revive the Holy Roman Empire and have whole new system

only the Germans make real money.
The French aren't too bad either.

The UK on the other hand

no europe is less broken than Us since our economy it's less related to financial engineering (UK apart)... it's because we cannot print or devaluate that we may ask for your money... you can float artificially for a while (I guess america reached the limit) while we cannot fake it easily.

Then since Germany is doing everything has been required by Rotshild, implementing all the changes required to Europe, the fed may be like printing out some more dollars for EU slaves.

I'm sure there are whole government praying everyday for a mega doom able to cover the disaster we are in.

at a certain point, when people wont have food...they will ask for some explanations, nobody would like to be in charge at that point

It is not so easy, the picture is a lot more complex! Some points you should consider to understand whats going on in German politics:

- Germany has got vital interests to keep the Euro. Sounds strange, but makes sense: The Euro is a lot weaker then the former Deutsche Mark, so German products are cheaper now on the world market. And Germany’s industry is export orientated. We like to call ourself the "Exportweltmeister" (export world-champion).

- You also should consider who lend all those money to the southern European states. The German Banks! If we stop bailing out these countries the German banking system will be on the edge of collapse. That means that we need to bail out the countries like Greece OR we need to bail out our banks. There is no escape... The same situation in France for example.

- Most Germans don’t understand my first two points. So it is very unpopular to support any bail outs, the Germans think that we could save money when we refuse, the awakening will be very hard for many Germans, we will pay for this crap.
And we will have some elections this year in the federal German states. When the conservative parties continue, they will loose all those elections. That is why Merkel is attacked from inside her own party and by her coalition partners. Lets see how long Merkel can take this pressure.

German shops are not closed between 12 to 3, maybe you experienced something special. The shops are open between 9 and 20 in general, some federal states allow longer opening times, Berlin for example.
But of course, German workers have got more rights than American workers. We have got a good network of social security, thanks to our strong unions. And the Germans are proud of this, we call it social market economy (soziale Marktwirtschaft). All this was introduced by conservative, monarchist Chancellor Bismark in the 1880s by the way.

Exactly! Counter-productive! Austerity measures are bad but so are bailouts. There is no answer? How about that asteroid?




Last Edited by market watchers on 03/10/2011 11:33 AM

Man you guys really got the US bailout flu bad. Sorry about that. Its mostly terminal, but the good news is its more like aids than cancer.

HEIL JITLER

This is Moody picking a pocket or two. In short, we in Spain are very well aware of having been cheated at Euro incorporation, this Moody arm is just a prologue of what tomorrow, and what tomorrow is wanted is Cheat, take 2.

Spain is not too big to bailout, what it is, is too old to bailout.

Simply, mediterranean and peripheral countries have all become aware of the (between other) monetary practices set to make people let the goods go. The world is everyday more and more full of hallucinating people that want other people give them goods for printed paper. No, man, no way to get the sweets without earning them.

All amount to a perspective of strategies mixed, some full of wishful thinking ("oh how good it would be if I had Canada, Venezuela, Australia, Antarctica,Siberia"), other far more realistic just trying to keep abreast some current status they estimate benefitial to them.

And for now this is what is in the stage: the more powerful spoiling on the less able to defend.

The current situation will irremediably lead to some situation where so scarce number of people won't be able anymore to hamper the lives of thousands of millions of people in the world. People simply won't tolerate anymore their happiness being stolen in such indemnity by the few.

In fact, the governments of today -in their zeal for power and control- have dared to try to steal the allpowerful and they are paying in kind with a severe retraction in the credit to keep them busy of their things. So they seem not as aware of what debt "is" for the illuminati type guy as Carlos V was, he knew not paying caused trouble.

So the recipe for tomorrow, tomorrow: don't worry, the scam won't prosper and if you want repayment for your junk printed euros you will be repaid in kind, in junk printed euros.

German needed the euro to incorporate eastern germany, now that they have controlled them, they are using the same strategy for all of Europe. The Germans historically have always been a dominating mean bunch of people, who are mean firstly to themselves, and so justify being mean to everyone. As they did in WW2 using guns, this generation is doing it using fiat worthless paper as you mention here Spanish friend. Eventually they will get the STIFF they deserve.

If the euro goes downs then the dollar goes down