Pelosi Quote
Posted by WARREN MOSLER on 28th October 2011
“It is clear we must enter an era of austerity; to reduce the deficit through shared sacrifice.”
- Nancy Pelosi, Dem Leader, US House
Posted in Deficit | 34 Comments »
Archive for October 28th, 2011
Italy Bond Yields Rise at Auction, 10-Year Bond Auction Yield at New Euro Era High
Posted by WARREN MOSLER on 28th October 2011
Nice, they announce proposal to confiscate 50% of Greek bonds from investors right in front of an Italian auction. And we thought we had sorry politicians…
Posted in Bonds, Greece | 9 Comments »
Euro Bailout Fund Chief Sees No Quick China Deal
Posted by WARREN MOSLER on 28th October 2011
Now it all starts unraveling. It’s all talk- another ‘optical illusion’ with no operational reality I sight. The China participation isn’t a done deal. The 50% haircut isn’t a done deal either as they haven’t yet figured out how to actually do it without a default event. The EFSF contributions aren’t a done deal either.
What they have done is further frightened investors to the point where the ECB will find itself buying a lot more bonds to keep member nation funding in check, while ‘negotiations’ drag on with no resolution, meaning, as previously discussed, this is the resolution.
Hoping i’m wrong…
Euro Bailout Fund Chief Sees No Quick China Deal
By Reuters
October 28 (CNBC) — The head of Europe’s bailout fund said on Friday he does not expect to reach a conclusive deal with Chinese leaders during a visit to Beijing but expects the surplus-rich country to continue buying bonds issued by the fund.