BTW, this may be the weekend when all financial hell breaks loose...

[wgadget]

In which They crank up the never-ending money-printing machine in a non-transparent effort to keep the Keynesian money laundering scheme going.

Pay attention to the elections in Greece.

I predict we will have yet another occasion to curse the bankers as they devalue our dollars, and another occasion to see Ron Paul's economic wisdom.

 

[ns1000]

The exit poll says too close to call. I wonder if the results will come in before the markets open in Japan. I figure "they" will manipulate so the pro-austerity, pro-euro party New Democracy will win eventually.

 

[Carlybee]

We have a long thread on the Euro Debt Crisis over at our forum if anyone is interested. http://seekingamerica.org/topic/9355444/8/#new (or click link in my sig)

*hope that isn't against the rules to post...if so mods feel free to delete but it is quite an extensive list of articles relating to this

 

[Lindsey]

Should I go hit up the ATM?

 

[jay_dub]

The Dollar is likely to strengthen on any bad news from Europe. Though it's bad news for the whole system, people will flock to the Dollar, much like rats running to the bow of the ship as the stern goes under.

 

[thoughtomator]

Nah, not yet, there's at least a few more months before the big one hits. It will probably be timed as a September/October surprise, just like with TARP. The finance industry has hostage-taking down to a science.

 

[Cowlesy]

I don't know. All week to me it felt like New Democracy was going to win, which conventional wisdom says will cause the market to rally. But there is an alternative way to play it, which was for me to buy the rumor, sell the news. So if we get a pop on Monday from New Democracy winning the election, I am going to sell into it.

Nothing has really changed. We are 36 jelly donuts into our sugar high of excess money in the system, so I don't think Greece being settled increases confidence worldwide.

From Hedge Fund Manager David Einhorn:

****

A Jelly Donut is a yummy mid-afternoon energy boost.

Two Jelly Donuts are an indulgent breakfast.

Three Jelly Donuts may induce a tummy ache.

Six Jelly Donuts -- that's an eating disorder.

Twelve Jelly Donuts is fraternity pledge hazing.

My point is that you can have too much of a good thing and overdoses are destructive. Chairman Bernanke is presently force-feeding us what seems like the 36th Jelly Donut of easy money and wondering why it isn't giving us energy or making us feel better. Instead of a robust recovery, the economy continues to be sluggish. Last year, when asked why his measures weren't working, he suggested it was "bad luck."

I don't think luck has anything to do with it. The blame lies in his misunderstanding of human nature. The textbooks presume that easier money will always result in a stronger economy, but that's a bad assumption.

****

 

[ns1000]

The french socialist just won control of the parliament. So president Hollande can now go on his crazy spending spree.

 

[Cowlesy]

Also, for those who are interested, it seems like Joe Wiesenthal (@TheStalwart) for Business Insider is providing really good on-the-ground (he went to Greece) updates on what's happening.

It looks like New Democracy wins, SYRIZA second, but PASOK (third) is refusing to join the government unless SYRIZA was involved (New Democracy + PASOK could actually form a government) to somehow taint SYRIZA as being also for austerity. It looks like more uncertainty ahead.

 

[ns1000]

Looks like New Democracy won the elections, but they will still need a coalition partner. PASOK will win enough seats, to give them both a majority. I guess this result will lead to a temporary rally on the markets.

 

[ns1000]

nment unless SYRIZA was involved (New Democracy + PASOK could actually form a government) to somehow taint SYRIZA as being also for austerity. It looks like more uncertainty ahead.

Yes, the result is almost identical to the last elections, but PASOK this time might be forced by external pressure to join the coalition. The Germans are pushing really hard. But anyways, we will have to wait for next week.

Ironically Germany will probably play Greece in the quarter finals at Euro 2012, how iconic

 

[Cowlesy]

Yes, the result is almost identical to the last elections, but PASOK this time might be forced by external pressure to join the coalition. The Germans are pushing really hard. But anyways, we will have to wait for next week.

Ironically Germany will probably play Greece in the quarter finals at Euro 2012, how iconic

I think PASOK will join too, they're likely just bargaining for incremental influence on the government.

 

[DamianTV]

One thing is for certain. If not this weekend, it will still happen very soon.

 

[Cowlesy]

I don't know. All week to me it felt like New Democracy was going to win, which conventional wisdom says will cause the market to rally. But there is an alternative way to play it, which was for me to buy the rumor, sell the news. So if we get a pop on Monday from New Democracy winning the election, I am going to sell into it.

Nothing has really changed. We are 36 jelly donuts into our sugar high of excess money in the system, so I don't think Greece being settled increases confidence worldwide.

From Hedge Fund Manager David Einhorn:

It looks like we are selling the news today from the weakness in the futures.

 

[Cowlesy]

One thing is for certain. If not this weekend, it will still happen very soon.

 

[buck000]

From Hedge Fund Manager David Einhorn:

Sounds like Paul Krugman needs to condescendingly explain to Mr. Einhorn that the problem is that Bernanke didn't feed us 100 donuts...