By John Galt November 21, 2011 – 21:45 ET From Ambrose Evans-Pritchard of the U.K. Telegraph; read them and weep for our friends in Europe: Self-serving myths of Europe’s neo-Calvinists Hungary turns to IMF as stress mounts in Eastern Europe
Daily Archives: 21/11/2011
Arab Spring Egyptian Edition November Body Count: 33 dead, over 1250 Wounded
By John Galt November 21, 2011 – 17:45 ET So is President Obama happy yet with the body count or shall he come out with another proclamation of just how wonderful the “Arab Spring” movement is in Egyptian cities? Per Reuters (click to read story here), the body count is at 33 with over 1,250 wounded thus far. The Muslim Brotherhood has vowed to “not” participate in any further demonstrations in an attempt to calm the waters before the election period. What is worse though,…
Greece: Athens Stock Exchange trades below 700, lowest level in 14 years
By John Galt November 21, 2011 – 09:05 ET If you’re looking for a crash, I think it is easy enough to find by simply going to Bloomberg’s home page for the Athens Stock Exchange to see what is spreading: While that is impressive, as the sub 700 level has not been seen since the 1990′s, the five year chart is even more eye opening: If the new Greek leadership does not reach some sort of agreement regarding the demand for blood oaths from the…
11/21 U.S. Market Preview: The Blame Game
By John Galt November 21, 2011 – 07:15 ET With futures looking pretty ugly already, the blame game has begun. Blame the Spanish election. Blame the Italians. Blame the Greeks. Blame the ECB. Blame the extra-Constitutional super-committee. In reality these entities have been the problem all along, creating a nightmarish if not illegal Ponzi economy which as it implodes takes layer upon layer of their citizen’s wealth with them. The desperation expressed by the financial and political elites to preserve their power base and the…
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