Monday, May 10, 2010

Euro Propped Up With A Trillion Toothpicks

Will this massive transfusion help a system with a spurting arterial bleed?  The world's banks are pumping a trillion dollars into a plot to save the euro as a currency and slow the debt crisis.

The world markets are giddy with the smell of freshly minted moola, and our own market is expected to open up as much as 400 points.  Paper fortunes will be made and lost in the next few weeks, while Greece riots and Germany sweats. 

The calliope plays on...


  1. The Footsie is way up this morning. Bank shares (Barklays, Lloyds) are the biggest risers.

  2. So, you do realize that sixty billion (or so - very rough math) of those toothpicks are to be provided by the US?

    (That's what our share of the 250B euro IMF loan works out to).

    So basically, when massive austerity programs (raised taxes, government spending cuts) are imposed to pay back this trillion euros, the European demagogues can point the finger at... the US again! And blame us for enforcing their debt slavery. (Greece is already at it).

    How completely f**king awesome.

    The one thing I object to is when people say "the US taxpayers will shoulder this burden". Actually, the US printing presses won't even shoulder the burden; the server farm at 33 Liberty (NY Fed) will shoulder the burden and create the required digital money ex nihilo. I'm sure they're up to it.

    Taxes will go up here, but since we'll keep spending way more than we raise, I'm not sweating the gilded bits sent down the fibre to the EUSSR of A this morning...

    (And besides - this is just the announcement of the capacity of the programs - basically, flashing a bazooka at the "speculators"... there were a record number of traders who went into the weekend short the Euro... bad, bad move...)

  3. The IMF is throwing 40 billion more at Greece, hoping to stave off that country's insolvency for another two years.

    That's 40 billion we'll never see again...down the giant money hole. :(

  4. Lewy, I think most Americans are waking up and smelling the rancid coffee.

    Work harder, America! Greece needs your cash!

  5. Short on the euro? Yikes! Some of these currency speculators will be doing headers out of very tall buildings...

  6. I usually put the news on to listen to when I'm getting showered and dressed after a workout, and some dimwit today was whining about "too many conditions" being given for Greece.

    I nearly had to go back to the gym for some more heavy bag time.

    At this point I'm all about sink or swim. Not totally - I do want to work something out. I want to get out of this mess - EVERYONE out of this mess, and I'm pretty sure it's going to have to be a collective effort.

    But this isn't even an effort.

  7. I would be overjoyed to find out that Soros (Lord of Darkness) took a big soaking, and utterly thrilled if he was one of the ones taking a long dive.

  8. put the radio or TV news on to relax in a shower?

    Why not dump some fire ants in there with you?

    Girl, you need a re-set.

  9. "whining about "too many conditions" being given for Greece."

    Sounds like all the 'hands held out' here.

    That's what ruined Athens, and Rome? Not enough haves to support the have nots.

  10. Ari - it's not to relax! I don't have a lot of catch up time lately, so I have to try and get caught up whenever I can.

    Also, I would like to throw out there that starting in the 2012 Olympics, female boxing will be included. While I am too old, I've had two coaches (one former Olympian)start really pushing me to get my evil blond daughter in training with an Olympic goal. She's really good! But she'd be looking at 2016 or 2020 with her age.

    I thought that was pretty awesome. :)

  11. AFW, maybe you should catch up on the news while sitting on the pot, or scrubbing the bottom of the kitchen garbage can, or spraying for cockroaches. :D

    That's really cool about your daughter! Imagine that! A future Olympian! :)

  12. lady red - that does seem to make more sense. I should turn on the radio while scrubbing the toilet. It would put me in the mood.

    My son is also focused on getting to high competition for boxing (he LOVES it), but he's 2.5 years younger than the Evil Blond One, and he's a boy. Which means that stick-toitivness is not his strong suit at this time. He works hard, but he's not interested in developing technique yet (he's 7). So - maybe later?

    The Evil Blond One is really good - people actually stop to watch her when she's in class. Plus she's cute (and evil). And tiny. It's like Mary Lou Retton got angry and whacked the shit out of something when the EBO gets going.

  13. afw - when it comes time for the EBO to graduate, drop me a line. I'll see what I can do getting her a job in Venture Capital.

  14. LOL! The heck with Venture Capital...EBO for President!!! :)