35 Responses to Unquenchable fire spreading: Eurozone crisis already burning markets across Asia

  1. luisport says:

    zerohedge zerohedge
    Banks are now resigned that stocks have to plunge to make Merkel “believe”
    há 31 minutos

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  2. Irene C says:

    Okay, someone explain this to me. On one article I read where India is going all out to improve their military (possibly understandable with China breathing heavily right on the border) and here I read where India is in economic trouble (as of course is everyone else it seems).

    I think I’ll just go back to watching my [American-style] football game. That I can understand.

    Maranatha

    Like

    • Marshallrn says:

      Well just this year the Fed government has almost had to shut down two or three times here in America, yet not a dime has been really pulled from military spending. You see, the governments ear mark tons on funds to spend on their military and weapon stock piles, but only worry about the tax dollars they put towards schools or the American people’s health. You know, the future of our American population. Working or not!

      Like

  3. Dennis E. says:

    In a previous posting, Merkel commented that Germany may have to die to save the EURO?
    To whom will the Germans concede power to, if so?
    The current president of The EU council is Herman Van Rompuy , is he the one?

    Like

    • SD says:

      To whom will the Germans concede power to? Obvious to herself! But via the Vatican, currently led by the german Joseph Ratzinger…. :-)

      Like

  4. luisport says:

    UK will ultimately join euro says Lord Heseltine

    Lord Heseltine is an adviser to David Cameron on economic regeneration
    Continue reading the main story
    Related Stories

    Cameron and Merkel stress unity
    Eurozone crisis: The German solution
    Former deputy prime minister Lord Heseltine has said he still expects the UK to eventually join the euro.

    The Conservative peer, one of his party’s most pro-European figures, said the eurozone had real problems but he hoped it would survive as its collapse would be “catastrophic” for the UK.

    http://www.bbc.co.uk/news/uk-politics-15810970

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  5. luisport says:

    zerohedge zerohedge
    European Black Swan Sighted http://tinyurl.com/7ut8yz3
    há 1 hora

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  6. There is clearly something wrong with the system when a tiny country like Greece can have such a huge effect on the global economy. The damage it can do is absurdly disproportionate with the size of its economy. The global economy receives an imperceptible benefit when Greece is doing well but can be driven into a global crisis when things are going bad. It doesn’t make any sense.

    Like

    • nickk0 says:

      “There is clearly something wrong with the system when a tiny country like Greece can have such a huge effect on the global economy.”
      AGREED. :x

      That’s what happens, when banks bet huge about of money, on horse races, (or countries), and lose.

      – Nick

      Like

      • Bone Idle says:

        It’s the derivatives and C.D.S’s. Currency debt has been leveraged to out of control levels. Greece may only have government debts of a couple of hundred billion dollars – it’s the leveraging of this debt that will snowball bank and then funds failures.
        The derivative time-bomb is believed to be in the region of 600 Trillion dollars (that’s Trillion with a T) .
        The derivative time-bomb is the financial equivalent of Tsar Bomba

        Like

    • Sandhya says:

      Read Kundalini meditation. The third chakra that is Nabhi Chakra of the world is located in Greece. So the global economy will benefit when Greece is doing well but can be driven into a global crisis when things are going bad. It DOES make 100% sense.

      Like

  7. Just my economically uneducated opinion, but I think Britain and UK should declare severance
    from Eurozone. The City of London (bankers) may suffer but possibly the country will survive.
    It’s been there a long time.

    Like

  8. dannrivera says:

    Worlds Economy dead, burned to the ground. Out of the ashes shall rise One World Economy controlled by WHOM? World War IV – World Domination – US/NATO & allies VS CHINA/RUSSIA & friends – this conflict shall detemine WHO will rule the World. That’s why all the Players on both side are brandishing their weapons getting ready for the all out WAR!

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  9. luisport says:

    http://www.marketwatch.com/story/french-bond-yield-rise-risks-aaa-outlook-moodys-2011-11-21?link=MW_home_latest_news FRANKFURT (MarketWatch) — Rising French government borrowing costs and an uncertain economic outlook continue to pose a threat to the outlook for France’s AAA credit rating, Moody’s Investors Service said Monday. “Elevated borrowing costs persisting for an extended period would amplify the fiscal challenge the French government faces amid a deteriorating growth outlook, with negative credit implications,” wrote Alexander Kockerbeck, senior credit officer, in the ratings firm’s Weekly Credit Outlook. The yield on 10-year French government bonds /quotes/zigman/4869091 FR:10YR_FRA -3.47% rose 6 basis points to 3.51%, according to FactSet Research. A basis point is one-hundredth of a percentage point.

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  10. luisport says:

    Spreads are wider across the board in Europe — including in Spain where a new conservative government just won national elections decisively — and markets are getting hammered.

    Italy’s FTSE MIB index is down nearly 3%.

    France is down 2.5%.

    Germany is off 2.8%.

    In the US, pre-market futures are off 1.5%.

    There’s not a ton of “news” really. Some might be inclined to blame the reported failure of the deficit Super-Committee, since that has raised the odds of another sovereign downgrade in the US.

    UPDATE: One thing that may not be helping: French paper Figaro (via SeekingAlpha) is reporting that Moody’s has made some warnings about bad growth being bad for the French sovereign rating. Due to France’s size, and its role in funding the EFSF, the country’s AAA-rating is a major pressure point for the whole area.

    Read more: http://www.businessinsider.com/morning-markets-november-21-2011-11#ixzz1eKrNgLSV

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  11. Gen says:

    Here is an article “Debt in the USA”. Interesting how many trillion dollars were added to US debt by each president from Ronald Reagan down to Barack Obama.

    http://www.abc.net.au/unleashed/3682718.html?section=business

    Like

  12. luisport says:

    zerohedge zerohedge
    China Outflows Signal Economic Woes http://on.wsj.com/uHqKN4
    há 3 minutos

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  13. luisport says:

    …The 12-member bipartisan supercommittee likely will announce today that it can’t reach agreement on deficit savings, according to a Democratic aide. The aide, who wasn’t authorized to discuss internal matters publicly and requested not to be identified, said in an e-mail that it was highly unlikely that the committee’s talks could be salvaged…

    http://www.bloomberg.com/news/2011-11-21/u-s-debt-supercommittee-is-said-to-be-poised-to-announce-failure-of-talks.html#

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  14. luisport says:

    zerohedge zerohedge
    Must. Create. Panic. Credit Suisse sees last days of Euro and Italian and Spanish yields could spike above 9%
    há 21 minutos

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  15. luisport says:

    zerohedge zerohedge
    Bank Of Spain Nationalizes Banco De Valencia http://t.co/6ALPes4X
    há 13 minutos

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  16. luisport says:

    zerohedge zerohedge
    BELGIUM’S DI RUPO OFFERS RESIGNATION TO KING ALBERT II. So now they really have no government?
    há 38 minutos

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  17. luisport says:

    zerohedge zerohedge
    COSPEDAL CALLS FOR ACCORD TO `GUARANTEE SOLVENCY’ OF SPAIN DEBT. Yes, we need a guarantee of Spanish debt solvency
    há 2 minutos

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  18. luisport says:

    “We seem to have entered the last days of the euro as we currently know it,” Credit Suisse’s Fixed Income Research team writes in a note out this morning. “The fate of the euro is about to be decided.”

    Market pressures are swiftly coming to a head, and EU leaders will be forced to take stronger action to respond to the crisis.

    Investor fear is causing conditions in the euro area—particularly for Italy and Spain—to deteriorate rapidly, and if EU leaders are to rescue the currency, they probably have to do it by mid-January.

    Read more: http://www.businessinsider.com/credit-suisse-these-are-the-last-days-of-the-euro-2011-11#ixzz1eMqLcL48

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  19. luisport says:

    Key moving average is broken
    November 21, 2011, 1:35 PM.Today’s market plunge has sent the major market averages below their key 50-day moving averages. Combined with last week’s breaking of the 200-day moving average, today’s action means that the market is now below both of these widely-used definitions of the market’s intermediate- and major trends.

    That much is clear.

    What is less clear is whether today’s breaking of the 50-day moving average will, in itself, place any more downward pressure on the market than it already is experiencing. After all, those who pay attention to the 200-day moving average would have already concluded last week that we are in a bear market. And the market since August has been operating within the rubric of the dreaded “death cross,” which occurs whenever the 50-day moving average declines below the 200-day.

    It may be, therefore, that today’s breaking of the 50-day moving average amounts to little more than icing on the bear’s cake.

    -Mark Hulbert

    http://blogs.marketwatch.com/thetell/2011/11/21/key-moving-average-is-broken/

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  20. luisport says:

    Crash in AAA-rated bonds in 2012 21/11/2011
    GEAB: We predict that in 2012 an average of all the Western States government bonds must be written down by 30%. End of 2011, the priming composition of the European debt will raise the U.S. debt bomb to explode. We expect that by early 2013 30.000 billion bill will be written off assets. – Bank of the dying phase has begun.

    An analysis of the GEAB

    The second half of 2011 is now almost over and 15.000 billion bill assets have dissolved into thin air since July, as we did in the 56th . And we believe this process the following year will continue in the same rhythm. We expect that occurs with the Greek debt cut of 50% of the global systemic crisis into a new phase, namely in the phase in which all bonds of the Western states are reversed. As a result of the global financial market is now divided regionally. We predict that in 2012 an average of all the Western States government bonds must be written down by 30%. Accordingly, the assets of the balance sheets of global financial institutions will be to assess lower.

    http://translate.googleusercontent.com/translate_c?act=url&hl=de&ie=UTF8&prev=_t&rurl=translate.google.com&sl=de&tl=en&u=http://www.mmnews.de/index.php/wirtschaft/8914-crash-bei-aaa-anleihen-2012&usg=ALkJrhh10eUqsE2mSCM8XS6-MNJvjgYIPw

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  21. luisport says:

    zerohedge zerohedge
    Fed’s Lockhart says QE3 would only be justified if the US is in a recession… also known as 900 on the S&P
    há 1 minuto zerohedge zerohedge
    @ @cr3dit 950 on the S&P
    há 4 minutos

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  22. luisport says:

    Here You Go: It’s Over
    CNBC is reporting that there are now clients running out of the markets entirely because they do not believe their customer funds are safe.

    That’s the end of it. The belief that there are more MF Globals has now taken hold. The thieves have pushed it too far and now we’ve got the start of a global liquidity run, and with good reason.

    The authorities both in the regulatory side and on the prosecutorial side have refused to put a stop to the thievery and now the risk factors have turned into realized risk.

    http://market-ticker.org/akcs-www?post=197878&page=1

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  23. luisport says:

    zerohedge zerohedge
    RT @TonyTassell: Austrian banks told to limit lending to their east European subsidiaries http://t.co/3iaoPXwv
    há 3 minutos

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  24. luisport says:

    zerohedge zerohedge
    Scramble From European Insurers Accelerates: ASSGEN, Allianz CDS Soar http://t.co/ZEerJPbF
    há 14 minutos »

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  25. luisport says:

    The U.S. deficit super-committee is expected fail. But is anyone really surprised?

    First, the scoreboard:

    Dow: -247.5 pts, -1.7%
    S&P 500: -22.5 pts, -1.5%
    NASDAQ: -49.5 pts, -1.6%

    And now, the top stories:

    So, the U.S. super-committee is expected to announce that it failed to agree on a deal to reduce the federal budget deficit by $1.2 trillion. Failure will trigger $1.2 trillion worth of automatic spending cuts starting in 2013. The healthcare and defense sectors will be hit hardest. The Super-Committee Failing Is A Major Problem For These 15 Companies >
    Europe’s debt crisis is also no closer to being resolved. Moody’s warned that France’s weak economic outlook and elevated borrowing costs could eventually lead to the loss of the country’s AAA rating. Borrowing costs in Europe’s debt-laden countries spiked and European stock markets plummeted.
    Experts continue to offer solutions to the eurozone crisis. There are new arguments for and against ECB money printing. Ed Yardeni and David Zervos have even suggested ways for the Federal Reserve to get involved.
    U.S. economic data continues to come in better than expected. October annualized existing home sales unexpectedly climbed 1.4% month-over-month to 4.97 million. Analysts were expecting a decline to 4.8 million.
    Despite the positive economic data, markets were overwhelmed by uncertainty out of both Europe and the U.S. Investors flocked to the safe havens like U.S. Treasury securities. The 10-year note is at 1.96% and the 30-year bond is at 2.95%. Gold, which some argue to be a safe haven, wasn’t safe at all today. Gold futures fell $46.50/oz, or 2.7%, to $1,678.60/oz.
    Gilead Sciences announced that it would buy Pharmmaset, a maker of hepatitis treatments, for $11 billion. Shares of Gilead fell 10%, as Pharmmaset shares jumped 85%.
    Jefferies Group came out with yet another statement to further downplay its exposure to Europe. The stock actually fared relatively well today. Other financials did not perform as well. Bank of America and Citigroup each fell by more than 4%. Morgan Stanley fell 3%.
    Muddy Waters, the research firm that brought wreaked havoc on Sino-Forest shares, made headlines again putting a strong sell rating on Chinese company Focus Media. The firm accused it of “significant overstatement of the number of screens in its LCDnetwork” and “Olympus-style acquisition overpayments.” Several other Chinese companies, including YouKu.com and SINA Corp. got crushed today.

    Read more: http://www.businessinsider.com/closing-bell-21-2011-11#ixzz1eNNdheVH

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  26. atul says:

    America is Even Worse Shape Than You Thought…. A new study shows economic and social conditions in the U.S. rank near the bottom of the developed nations

    http://www.salon.com/2011/10/29/why_inequality_in_america_is_even_worse_than_you_thought/singleton/

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  27. Gen says:

    Thanks Luisport for your continued updates. Just one thing

    “Experts continue to offer solutions to the eurozone crisis.”

    So far as I am aware the world has not had to deal with anything like this particular current situation before, so how can anyone be expert when it comes to solutions.

    In the usual human fashion the powers that be will keep going around in circles until the whole thing goes up in a puff (more likely huge explosion) of smoke.

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  28. Gen says:

    This is the second article by Satyajit Das following on from “Debt in the USA”

    http://www.abc.net.au/unleashed/3686994.html

    Like

  29. Gen says:

    This is the third article by Satyajit Das.

    http://www.abc.net.au/unleashed/3687316.html

    Like

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