PORTUGAL

6 Years Later the PIIGS and Europe Still Wallow in Bear Markets

by John Galt July 31, 2016 10:00 ET Everything is great. All is quiet on the Western Front, Eastern Front, and Main Street economies with sluggish growth but new all time highs in key equity markets promoted for television purposes. The problems in Portugal, Ireland, Italy, Greece, and Spain are solved because CNBCCNNFBNFNCBBG does not want to cover them on a daily basis. Hence it’s all awesome: Right? Despite the fact that the over indebted United States has managed to hyperinflate its way into a new all time high in equity…


The PIIGS plus Cyprus are Back in the News

  by John Galt July 3, 2013 05:45 ET   What a bloodbath in Portuguese markets this morning!   (chart from Bloomberg.com) The political crisis there pales compared to Greece as the EU has given a 3 day deadline for the Greek government to get back into compliance with their bailout agreement or there will be consequences. (chart from Bloomberg.com) Of course the PIIGS are limited to having only 5 official members so Cyprus is just the plus one so far (unless of course one considers Croatia as 1a and Hungary…


At 10:30 a.m. ET All Hell Could Break Loose in our Stock Markets

  by John Galt July 3, 2013 05:00 ET The reports starting to emanate from Egypt could have a huge impact on trading this morning with equity futures already indicating a negative opening and the NYSE closing at 1 p.m. on a holiday shortened trading session. The first report about the actions starting within Egypt by the military is via Ynet News out of Israel: Report: Muslim Brotherhood officials under house arrest Egypt’s Al-Ahram newspaper reported that Muslim Brotherhood senior officials have been placed under house arrest and the group’s funds…


An Old Fashioned PIIGS story as Portugal Mises Deficit Targets Again

  by John Galt March 28, 2013 21:30 ET   Ah, the good old days. Spain can’t meet it’s goals and needs a break from the European Union. Italy can’t form a government again (again, again, again, etc…). Ireland got drunk and forgot to make a bond payment. Greece well, is Greece. And good old Portugal can’t meet the commitments they made to the IMF, EU, and European Central Bank about their deficit spending. Wait a minute, that’s exactly what El Pais reported this afternoon: Portugal fails to meet public deficit…


7 Charts Indicate Why Europe is Doomed

  by John Galt June 1, 2012 05:15 ET   (All charts courtesy of Bloomberg.com)   Have my readers ever wondered why the financial networks always show 1 year, 6 month, or 3 month charts of stocks, bonds, or indexes whenever possible? Perhaps these seven charts will indicate why they prefer to color the truth and hide the seriousness of the economic realities of Europe. I have posted the charts of the major stock market indexes for the PIIGS plus Cyprus and Hungary to offer perspective as to how severe the…


3.27.12 AEP: Spain to slash spending as economy slumps back into recession

by John Galt March 27, 2012 23:00 ET   The saga of the Eurozone is far from over and the latest piece from Ambrose Evans-Pritchard in the U.K. Telegraph tonight says it all: Spain to slash spending as economy slumps back into recession (click on the title above to read the story in full) As the world thinks the Greek disaster is behind them, the lurking nightmares of Hungary, Ireland, Portugal, and Spain along with Cyprus and other Balkan states hangs over the heads of the banksters in Brussels like an…


3.18.12 AEP: PIMCO chief Mohamed El-Erian expects ‘second Greece’ in Portugal

by John Galt March 18, 2012 16:00 ET The music is fading, the crescendo of crisis overrated according to some, the people of Athens are now found digging through garbage cans fighting their former pets for meals, all while the European Union chieftains and banking elite enjoy Chateaubriand and caviar in celebration of another hollow victory. The bondholders who refused to comply with the Greek default order are going to be paid a pittance compared to the thievery of the banksters and average citizens throughout the West continue to question the…


3.8.12 AEP: Legal skull-duggery in Greece may doom Portugal

by John Galt March 8, 2012 22:15 ET The problem with a Ponzi scheme is that eventually someone gets angry enough to see the con for what it is and asks where the money really is. Welcome to the PECB, the Ponzi European Central Bank. Ambrose Evans-Pritchard has addressed this issue in his column tonight in the U.K. Telegraph: Legal skull-duggery in Greece may doom Portugal (click on the title above to access article in full) As the Greece insolvency crisis continues despite the bond laundering scheme dreamed up by the…


2.28.12 AEP: Irish EU treaty vote threatens chaos

by John Galt February 28, 2012 19:00 ET Can I get an “Oops” and an “AMEN” from the audience please? Irish EU treaty vote threatens chaos Ambrose Evans-Pritchard has elected to defy the powers that be in the European Union again and post an inflammatory but accurate commentary in tonight’s U.K. Telegraph (Click on the title above to read it in full) about what happens when representative democracy meets the agenda of the banksters who wish to enslave populations without proper representation. Excerpted: All three major parties back the treaty but…


1.19 AEP: Portugal is heading into a Grecian Spiral

by John Galt January 19, 2012 23:00 ET As the markets continue their drunken ways, Portugal is sending out a distress signal. Ambrose Evans-Pritchard’s story this morning from the U.K. Telegraph heralds this warning clarion in graphic detail: Portugal to need “debt haircut” as economy tips into Grecian downward spiral (Click on the title to read the full article The excerpt which should set off alarm bells in bankster’s offices from Brussels to Berlin: The problem is the slow-burn threat of debt-deflation. Interest costs for Portuguese companies are painfully high –…


Did the ECB and Fed Decide to Abandon Portugal, Ireland, and Greece today?

By John Galt November 30, 2011 – 12:50 ET If I were to offer an unbiased opinion, I would say that it is too early to tell. However, the lack of a vociferous and solid course of action for the EFSF to bail out anything beyond what has been established for the nations of Portugal,Ireland, and Greece versus the abject panic in Berlin and Paris about the collapse of Italy and Spain tells this blogger that indeed, a decision may have been made to limit exposure to the PIG nations and…



No Picture

PIIGS Downgrades Begin: Portugal Zapped 4 grades by Moody’s

By John Galt July 5, 2011 When you go to Moody’s home page and read the information about the downgrade (available at this link) the lack of faith in the ECB’s plans to quasi-monetize their way out of the European Union PIIGS crisis has been exposed. Yesterday it was S&P commenting on the Greek bailout and today’s move by Moody’s to move Portugal from Baa1 to Ba2 is a bit of a shock to a nation already struggling to implement austerity Juncker style. The reasons they provided for the negative outlook…


%d bloggers like this: