09/06/2012

BREAKING NEWS: Maximum Amount EU to offer for Spain Bank Bail out is € 100 Billion

  by John Galt June 9, 2012 13:18 ET   Per breaking news in El Confidencial in Spain, the maximum amount that Brussels will authorize is € 100,000 million (€ 100 billion) which means that Spain will be left on their own to fund any future or additional bail outs for their banking system. From the article translated using Google Translate(original in Spanish at this link):   The total amount of the ransom to Spain could amount to 100,000 million euros, according to sources at The Confidential financial and community sources…


4 More Bank Failures last Night

  by John Galt June 9, 2012 07:40 ET   The FDIC was busy again last night zapping banks in NC, IL, OK, and SC. Even though the troubled regional banks and corrupt megabanks are apparently now exempt from failing the small community banks which have had insane mandatory rules and fees added on to these institutions are, as expected, breaking their backs and enabling larger banks to buy them for a song via the FDIC. CalOkie will have a very interesting chart update with this sudden spate of activity by…


Chinese Inflation Eases Unexpectedly as Economy Slows

  by John Galt June 9, 2012 07:15 ET   The Chinese Communist Economists learned from the best and in the tradition of the American Bureau of Labor Statistics, the mythical Consumer Price Index inflation data was released this morning (From Xinhua):   China’s inflation eases further, more monetary easing expected   BEIJING, June 9 (Xinhua) — China’s inflation unexpectedly eased to a 23-month low due to falling food prices and base effect, providing ample room for the government to boost slower-than-expected growth in the world’s second-largest economy.   The consumer…


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