13/06/2012

Meanwhile, back in Spain the Miners Protesting Pay and Austerity Intensifies

  by John Galt June 13, 2012 11:00 ET   The American media’s obsession with ignoring bad news and engaging in propaganda via the art of omission works well for the target audience which is more concerned about Lindsey Lohan or a “yes we can” chant. However when the internet news hounds (my readers) and those concerned about the future of Europe and hence, the U.S. economy start to dig into the severity of the situation in Europe new facts emerge to raise the concern level.   In Spain, that goes…


And another Failed Italian Bond Auction

  by John Galt June 13, 2012 05:10 ET   Wow. From Bloomberg TV:   1 year (364 day) Italian bond auction this morning-   on May 11th auction went off with a 2.34% yield   This morning with a 3.972% yield.   Can you smell the pizza burning in that Italian kitchen? They may have sold all €6.5 billion put out for bid, but to have yields blow out by over 1.6% is a failure in anyone’s book because it means that increasingly, investors are lumping Italy into the PIIGS…


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