Topic:
Weekly initial jobless claims down 13,000 to 348,000 [Locked]
ZigmundZag Title: Grammar Nazi Posts: 1,211 Registered: 2002-3-25 23:03:00
Date Posted:1/1/00 12:00amSubject:
Weekly initial jobless claims down 13,000 to 348,000
Sansfear posted: I think she's talking about if/when and whether or not the Greek economy officially defaults which would activate all the credit default swaps tied to it.
They keep throwing money at them in an attempt to avoid that happening, but it is inevitably going to do so (and should have been done awhile back so they could restructure). All they are doing now is throwing hundreds of billions of good money after bad.
Then again, I could be wrong!
There's a growing sense that you're not wrong...in fact "throwing good money after bad" is exactly the phrase I heard used to reference their last meeting/conference call/whatever on the subject.
Date Posted:1/1/00 12:00amSubject:
Weekly initial jobless claims down 13,000 to 348,000
Sansfear posted: I think she's talking about if/when and whether or not the Greek economy officially defaults which would activate all the credit default swaps tied to it.
They keep throwing money at them in an attempt to avoid that happening, but it is inevitably going to do so (and should have been done awhile back so they could restructure). All they are doing now is throwing hundreds of billions of good money after bad.
Then again, I could be wrong!
It is not exactly a secret that the Greek mess could explode even further and that will impact the US. I am not sure what she was trying to say beyond simply pointing to one of the most popular economic stories over the past year.
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"Okay... I'm with you fellas" --Delmar
F is for Fake-believe
"We apologise for the inconvenience" --God
"What Jesus fails to appreciate is that it's the meek who are the problem"--Reg
Run, Forrest! Run!
Date Posted:1/1/00 12:00amSubject:
Weekly initial jobless claims down 13,000 to 348,000
The nutters at WNDHedge have been prophesying our economic destruction for three years now. You never know, if they keep it up, they may accidentally be right eventually.
I lump them in with the war with Iran crowd.
Rosaria Title: They call me Mellow Yellow, quite rightly. Posts: 477 Registered: 2003-8-22 10:07:30
Date Posted:1/1/00 12:00amSubject:
Weekly initial jobless claims down 13,000 to 348,000
Sorry, just got back and am typing this with an eye patch on, so please excuse typos and the occasional burst of Tourette's.
There's a squillion words already printed about Greece but overall I think its a mistake to just say its a case of throwing good money after bad, because the money being spent on Greece is not going to the Greek people, its being diluted across hundreds of international banks and its 'their' money that is magically being guaranteed, not the welfare of the Greek people. This has nothing to do with people because in the final analysis no one gives a shit about Greece. This is about Greek bond swaps that in effect will have the ECB paying far far more than the initial cost of the bond issuance to begin with. Its going to be voted on before anyone even knows if Greece has complied, or has any intention of complying with, the restructuring provisos or not. No one cares, its the shifting of money that matters. Greece has not even made the debt swap offer, and can, after making the offer, withdraw it at any time!
To answer Sin directly, I do not believe there is an LTRO nor a Fed discount window large enough to support international banks who have dreadful risk exposure not only to Greece, but to Spain, Italy, and Portugal in that order. Greece is just one tiny example or portend of four other disasters with abysmally high employment waiting for their turn whose impact is far greater on the overal EU economy.
I simply do not believe any of this action is sustainable, and its going to impact the US in waves because there are no firewalls in place to protect US interests from the financial drama I believe will take place over the next several months. The Mother of All Credit Events is unfolding before us and its infantile to presume that its all because of those 'fatuous and selfish' Greek people.
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"Them Bollinger Bands on the DJIA are starting to look like columns of projectile vomit." ~ Red Pill
Date Posted:1/1/00 12:00amSubject:
Weekly initial jobless claims down 13,000 to 348,000
Rosaria posted: Sorry, just got back and am typing this with an eye patch on, so please excuse typos and the occasional burst of Tourette's.
-----signature-----
In the immortal words of Socrates - "I drank what?"
"God you guys suck at the internet - how can you fail to locate porn?!" - Eternal_Midnight
"Knowing means nothing." - Fat-badger
Rosaria Title: They call me Mellow Yellow, quite rightly. Posts: 477 Registered: 2003-8-22 10:07:30
Date Posted:1/1/00 12:00amSubject:
Weekly initial jobless claims down 13,000 to 348,000
Abaddon_Ambrosius posted:
Rosaria posted: Sorry, just got back and am typing this with an eye patch on, so please excuse typos and the occasional burst of Tourette's.
Fu...fuck..kkk fuck you.
-----signature-----
"Them Bollinger Bands on the DJIA are starting to look like columns of projectile vomit." ~ Red Pill
Date Posted:1/1/00 12:00amSubject:
Weekly initial jobless claims down 13,000 to 348,000
Rosaria posted: Sorry, just got back and am typing this with an eye patch on, so please excuse typos and the occasional burst of Tourette's.
There's a squillion words already printed about Greece but overall I think its a mistake to just say its a case of throwing good money after bad, because the money being spent on Greece is not going to the Greek people, its being diluted across hundreds of international banks and its 'their' money that is magically being guaranteed, not the welfare of the Greek people. This has nothing to do with people because in the final analysis no one gives a shit about Greece. This is about Greek bond swaps that in effect will have the ECB paying far far more than the initial cost of the bond issuance to begin with. Its going to be voted on before anyone even knows if Greece has complied, or has any intention of complying with, the restructuring provisos or not. No one cares, its the shifting of money that matters. Greece has not even made the debt swap offer, and can, after making the offer, withdraw it at any time!
To answer Sin directly, I do not believe there is an LTRO nor a Fed discount window large enough to support international banks who have dreadful risk exposure not only to Greece, but to Spain, Italy, and Portugal in that order. Greece is just one tiny example or portend of four other disasters with abysmally high employment waiting for their turn whose impact is far greater on the overal EU economy.
I simply do not believe any of this action is sustainable, and its going to impact the US in waves because there are no firewalls in place to protect US interests from the financial drama I believe will take place over the next several months. The Mother of All Credit Events is unfolding before us and its infantile to presume that its all because of those 'fatuous and selfish' Greek people.
I thought the whole point of the massive amount of CDS was to bet against Greece. In fact the amount of CDS outstanding seem to suggest that the market is less about insurance and more about high stakes gambling.
At this point it is like everyone is just waiting for the implosion to occur and spread. Those who have risk exposure have had plenty of time to address that risk which should help.
The US is exposed to the European crisis but not to the same degree Europe is exposed to our own economic hardships.
/shrug
-----signature-----
"Okay... I'm with you fellas" --Delmar
F is for Fake-believe
"We apologise for the inconvenience" --God
"What Jesus fails to appreciate is that it's the meek who are the problem"--Reg
Run, Forrest! Run!
Date Posted:1/1/00 12:00amSubject:
Weekly initial jobless claims down 13,000 to 348,000
imaloon1 posted:
Rosaria posted: Fu...fuck..kkk fuck you.
LMAO.... I have no idea why you're cussing him but I think it's funny anyway.
LOL she's just adding the Tourette's since I was remiss and only provided the eye patch.
I get Rosie better than I probably should, sometimes.
-----signature-----
In the immortal words of Socrates - "I drank what?"
"God you guys suck at the internet - how can you fail to locate porn?!" - Eternal_Midnight
"Knowing means nothing." - Fat-badger
Date Posted:1/1/00 12:00amSubject:
Weekly initial jobless claims down 13,000 to 348,000
Sin_of_Onin posted:
Rosaria posted: Sorry, just got back and am typing this with an eye patch on, so please excuse typos and the occasional burst of Tourette's.
There's a squillion words already printed about Greece but overall I think its a mistake to just say its a case of throwing good money after bad, because the money being spent on Greece is not going to the Greek people, its being diluted across hundreds of international banks and its 'their' money that is magically being guaranteed, not the welfare of the Greek people. This has nothing to do with people because in the final analysis no one gives a shit about Greece. This is about Greek bond swaps that in effect will have the ECB paying far far more than the initial cost of the bond issuance to begin with. Its going to be voted on before anyone even knows if Greece has complied, or has any intention of complying with, the restructuring provisos or not. No one cares, its the shifting of money that matters. Greece has not even made the debt swap offer, and can, after making the offer, withdraw it at any time!
To answer Sin directly, I do not believe there is an LTRO nor a Fed discount window large enough to support international banks who have dreadful risk exposure not only to Greece, but to Spain, Italy, and Portugal in that order. Greece is just one tiny example or portend of four other disasters with abysmally high employment waiting for their turn whose impact is far greater on the overal EU economy.
I simply do not believe any of this action is sustainable, and its going to impact the US in waves because there are no firewalls in place to protect US interests from the financial drama I believe will take place over the next several months. The Mother of All Credit Events is unfolding before us and its infantile to presume that its all because of those 'fatuous and selfish' Greek people.
I thought the whole point of the massive amount of CDS was to bet against Greece. In fact the amount of CDS outstanding seem to suggest that the market is less about insurance and more about high stakes gambling.
At this point it is like everyone is just waiting for the implosion to occur and spread. Those who have risk exposure have had plenty of time to address that risk which should help.
The US is exposed to the European crisis but not to the same degree Europe is exposed to our own economic hardships.
/shrug
That is how I have been looking at all these messes. It appears all they have done is spread a depression out over time. There is no saving of anyones butt. There is only time for many large players to soften their landings. Yet one has to wonder what would have happened if the world had not embraced "too big to fail".
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"The poison of our ordinary habits has killed the magic of the moment"
"Men are not in hell because God is angry with them . . .
they stand in the state of division and separation which by their own motion, they have made for themselves"
