By John Galt November 23, 2011 – 14:45 ET Do I really need to offer a snide remark or commentary? Seriously? How about some fireworks to celebrate and congratulate the effort? Yet there are those morons who appear on the “financial news networks” and proclaim that “sure, there’s no problem, the Greeks can pay this off.” There are better odds that we’ll see pictures of Barrack Obama and Michelle Bachmann nude, in bed, at a Motel 6 in Ottumwa, Iowa being leaked to the media.…
By John Galt November 23, 2011 – 14:30 ET This astonishing decision just crossed the wires from Reuters: NY appeals court approves GPS tracking of employee What’s next? They have the right to put a black bag over your head and beat you senseless because you were overheard saying something bad about your boss? Perhaps Creedy will oversee your interrogation and get a few hits on your knees and elbows with a steel pipe to beat a confession out of you. From the article: In…
By John Galt November 23, 2011 – 05:25 ET According to a breaking story this morning, the German 10 Year Bund auction was technically uncovered which is the same as: With only €3.6 billion purchased of €6 billion offered, I would call that the definition of epic failure. Now that the crisis has migrated into the heart of the Eurozone, watch out for pissed off German bankers taking revenge out on the PIIGS. The yields are creeping up slightly but the Euro has just absolutely…
By John Galt November 23, 2011 – 05:15 ET From Ambrose Evans-Pritchard via the U.K. Telegraph: Spain in race against time to avert bail-out Excerpt: The bank said the double whammy of surging borrowing costs and a slide back into recession together risk inflicting serious damage to Spain’s debt-dynamics, pushing public debt above 86pc of GDP over the next three years. The double whammy is when the banks from the Northern European nations fail to have the ability to survive long enough or remain solvent…
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