Hätähuuto Suomen puolesta

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Lopettakaa ihan oikeasti sen ulkomaisen viihdelaitekrääsän ostaminen, ostakaa kotimaista. Muuttakaa kulutustottumuksia, parempi totutella nyt, kuin herätä joku aamu, ja yhteiskunta on lakkautettu...

"Moreover, we know that Europe is in a very bad place. Here’s a quick 30,000 foot view of Europe in bullet point form. I’m focusing on the country that’s in the most trouble (Spain) and the country that is the backstop for the EU (Germany).

All of the following are facts:

Spain:

1) Spain’s banking system saw a bank run to the tune of €70 billion in August. The market cap for all of Spain’s banks is just €114 billion. So Spanish banks need to raise at least €20+ billion or so per month in the coming months to stay afloat. This is without depositors pulling additional funds in September onwards. That’s really bad news.

2) Spain’s now nationalized Bankia just took another €5.4 billion from Spain’s in-country rescue fund. This indicates that once nationalized, problem banks DO NOT cease to be problems.

3) The region of Andalusia is requesting a bailout from the Spanish Federal Government. This comes on the heels of bailout requests from the regions of Valencia, Murcia and Catalonia (none of which want any “conditions” on the funds).

4) Spain has set aside €18 billion to bailout its regions. The current bailout requests already amount to €10.8 billion. That’s just from this year alone.

Simply put, Spain has MAJOR problems. And this is after the ECB put over €1 trillion in liquidity into the EU banking system to cover three year funding gaps for EU banks.

Despite these measures, Spain has already asked for a €100 billion bailout for its banks from the EU. However, it’s yet to request a formal sovereign bailout.

The reason for this is Spain doesn’t want the EU or IMF to impose conditions on its already troubled economy (youth unemployment at 50% and total unemployment at 25%).

Also, Spain doesn’t want IMF and EU bean counters to sift through its book. Case in point, the country just discovered another €28 billion in debt on its books. One wonders what else is hidden in the darkness of Spain’s officials “numbers.”

Germany:

1) The country is now sporting a Debt to GDP of 90% courtesy of its EU bailouts.

2) Germany has committed over €2.1 trillion in backdoor bailouts to the EU.

3) German Chancellor Angela Merkel is up for re-election next year. The EU bailouts will be THE election topic. And she is facing backlash from members in her own party as well as opposition leaders concerning her actions in helping the EU.

So, we see a problem country (Spain) facing a severe bank run, regional bailouts, and more at the precise time that its ultimate backstop (Germany) has put its own solvency into question due to various EU bailout schemes.

I believe that the Fed’s decision to announce QE 3 now was in part due to the severity of these issues. One has to remember that a significant number of the Fed’s Primary Dealers are based in Europe. The Fed will be feeding them liquidity via QE 3.

Remember, the ECB’s recent open-ended bond program requires countries to meet “conditions.” The Fed’s QE 3 doesn’t. So this can be seen in some ways as a potential back-door bailout to Europe in that it will get liquidity into European banks.

Again, I firmly believe that one of the primary reasons the Fed did this was to deal with liquidity issues that are occurring “behind the scenes.” The fact the Fed piggy-backed this announcement after the ECB’s announcement of its open-ended bond purchasing program makes this a coordinated central bank intervention.

Why would the Fed and ECB do this? Because they’re scared stiff of what’s happening and are trying to shock and awe the markets into submission with terms like “open ended” and “unlimited.”

There is only one reason to do this: things are in fact much worse than anyone has admitted.

Mulla ollut sama putki-TV 5 vuotta, naurattaa kun kaverit ostavat vuoden parin välein taulutelkkareita kun edelliset hajoaa joko kersan nyrkiniskusta, tai muuten vaan huonon laadun takia.

Kuvakin on jotenkin sahalaitainen niissä taulutelkuissa.