sell! sell! sell!

[tiznow]

Yeah I suppose the conservatives themselves I guess it doesn't matter ... I'm thinking more along the lines of independents/fence sitters as to which side of the one party charade they are going to choose

Poltics today is just a complete joke ... Become a team sport where u support your team/side with any pure an utter BS that you can come up with with no rational thinking involved .... Divide an conquer as the little guys bicker amongst themselves as they all get flushed down the toilet bowl as crony corporatism reigns supreme making the mega rich even richer ...

 

[SmallDaddy]

Cant wait....CANT WAIT for the Daily Show. Its gonna be EPIC!!!!!

Jonny Stizzle will bring the Hizzle!!

 

[tiznow]

That Roberts loophole none sense today was so fishy ... It's unconstitutional buttttt I found some reach around reason to let it slide .... the conspirasist in me says the neocons (who are liberals thru and thru that talk a conservative game) hand selected him to be the swing guy when a big government intrusion issue came up but will vote the party lines on all the lesser issues ...

 

[SmallDaddy]

Oh come on now

Roberts is tilting Republican 99 out of a 100 but he is a liberal plant????

 

[tiznow]

Daily show is a bad joke

Keep all the masses laughing at all the political nonsense going on rather then doing anything produuctive about it ... as we get flushed down the drain

Give the masses bread and circus and they won't revolt

Daily show is part of the overall circus

 

[SmallDaddy]

Lesser issues like unlimited corporate money to buy elections???

 

[tiznow]

That's exactly why it's fishy Smalldaddy when the biggest decision he has to make to date under his tenure comes up he sides with the liberals

I don't really care about this specific issue persay

The bigger issue is the precedent it sets for the future... As they take baby steps slowly but surely diluting the constitution a government grabs more and more power..

 

[tiznow]

What does corporate money matter ... On the big stage at least they put up two big government empty suits and say have at it we don't care who wins ... Either way it's a win win for the elite

 

[tiznow]

California Is Not Spain, Uganda, Or Greece; But Stockton Sure Is: Largest US City Bankruptcy Is Now Official
Submitted by Tyler Durden on 06/28/2012 - 20:42
Greece Italy
The longest foreplay, well except what they have going on over in Europe these days, is now over:

STOCKTON, CALIFORNIA, FILES FOR BANKRUPTCY COURT PROTECTION
Let's see: this week we have had official insolvency filings from Spain's banks, Cyprus, now Stockton, and rumors that Slovenia is next. It also appears that Spain and Italy do not want to be "fake" bailed out unless they are "for real" bailed out. Things are certainly picking up speed. What next: Stoxit? And what is the Bloomberg text symbol for the Confederate dollar?

 

[tiznow]

Well we have our answer for the late ramp somebody in the know front running this .... Utter joke how rigged this shit is at this point.. Futures up 1%

--------------


Juncker 'Hoped For More' As Italy And Spain Get (As Yet Unquantified) 'Band-Aid'
Submitted by Tyler Durden on 06/28/2012 - 23:03
Copper headlines Italy Reality
UPDATE:

*MONTI SAYS EURO LEADERS HAVE NO PLAN FOR BOOSTING BAILOUT FUNDS
*ITALY HAS NO INTENTION TO `APPLY FOR THIS,' MONTI SAYS
*

Early morning (drunk-dialing/texting) headlines from the EU Summit that there has been some short-term measures approved in terms of the removal of the seniority preference for ESM/EFSF rescue fund recaps of Italian and Spanish banks (though no details of the levels of dilution, cram-downs, or amounts have been discussed). The market, being as thin as it can be, is ripping higher on this realistically 'not much' news - though clearly someone 'blinked' a little. Headlines via Bloomberg:

*EURO LEADERS RENOUNCE SENIORITY ON SPAIN LOANS
*EURO LEADERS AGREE TO OPEN FUNDS WITHOUT AUSTERITY PROGRAMS
*BANKS CAN RECAPPED DIRECTLY WITH AID FUNDS, VAN ROMPUY SAYS
But it's not all free-money and unicorn tears:

*MERKEL SAYS EU LEADERS TO CONTINUE WORK ON LONG-TERM MEASURES
*JUNCKER SAYS WOULD HAVE `HOPED FOR MORE' FROM EU SUMMIT

 

[tiznow]

Euro Zone Agrees on Bank Supervision, Bond Support
Reuters | June 28, 2012 | 11:16 PM EDT
European leaders agreed on Friday to create a single supervisory body for euro zone banks and to allow them to be recapitalized directly by the currency area's rescue fund without adding to government debt.

European Council chairman Herman Van Rompuy said the aim was to create a supervisory mechanism involving the European Central Bank by the end of this year, and to break the "vicious circle" between banks and sovereign governments.

He also said countries that were complying with European Union budget policies would be able to access the bloc's temporary EFSF and permanent ESM rescue funds to support their government bonds on financial markets.

"We are opening the possibility to countries that are well behaving to make use of financial stability instruments in order to reassure markets and to get again some stability around some of the sovereign bonds of our member states," Van Rompuy told a 4.30 a.m. (0230 GMT) news conference after late night talks with leaders of the 17-nation currency zone.

Spain and Italy had withheld their agreement to a growth package at a European Union summit to demand emergency action to bring down their spiraling borrowing costs, which threatened to force the third and fourth largest economies in the euro zone out of the capital markets.

 

[tiznow]

Seems like more of the same "plans" with no substance to back it up and won't really "fix" anything ... But good for a short squeeze ... Hilarious action ...

We'll see if 1341 was the ES high and continues to fizzle by morn or not ... 1337 right now

 

[SmallDaddy]

Europe is printing!

 

[tiznow]

Nah... This has nothing to do with ECB or anything

Just making more good sounding promises/plans they can't keep with the ESM/EFSF

 

[tiznow]

"It should not be too long, however, until market participants will begin to contemplate the limitations of this approach. First, unlike the ECB, the EFSF/ESM do not have the means to intervene in size. Unless ECB repos will become possible the markets will question how the EFSF/ESM will be able to raise the money for meaningful Interventions" said Rieger.
"Second, even if the ESM would have the means, its firepower is limited. With more countries applying for regular/banking aid, the theoretical ESM capacity of 500 billion euros could also quickly reach its limits amid sizeable secondary market interventions for non-program countries" said Rieger, who believes today's relief rally could be short lived.

------------

Plus it has to make it through German parliament which is becoming increasingly irked by all this

It's more of the same EU was getting backed into a corner big time do they came up with a nice sounding grand plan to buy more time and good for a pop in the risk trade which will likely fizzle sooner rather then later ...

There are no "fixes" to this situation

 

[tiznow]

Well they set to have a nice party into open futures still moving up 1348 on ES ...

My guess is sell the open as has been the case almost every time with these EU plans/"bailouts" etc but maybe this one will have legs


all I know is gold is clearly saying nothing is fixed ... The day you see gold tank and markets soar on intervention news is a good indication they onto something for once ....

 

[tiznow]

Not calling for a crash just the begininng of a new bear move ....

I will stand aside if they manage to get it back up to 1380 (entered short above that) or thereabouts I agree with chop on that

We shall see if yet another EU plan inspired rally fizzles as has been the case for a while now

Oil squeeze today is insanity ..EU Iran oil embargo goes into effect July 1 adding extra fuel to that rally ...

No sub 3 dollar gas yet for the peons "they" depend on to spend to keep the system stable ...and have fun paying huge A/C bills with 100+ heat ... Last winter average joe got a huge break with mild winter and cheap gas

Bottom line is its all one huge balancing act that is getting harder for them to balance that will inevitably crack at some point maybe it's now maybe it's november maybe it's even later ... But regardless it will and upside is very limited

 

[tiznow]

Markets basicially back to the QE2 ending peak in may 11

Then we started cliff diving the reaction was Ben twisting and ECB LTRO , and EU "plans" galore" got us back to this


Now we just floundering around and I doubt any Ben or ECB actions come out unless we fall at least 100 S&P points from here

 

[Romanowski]

He beat tricky dicky in the first ever televised presidential stuff and got the vote on the day
He didn't last long though

A US President is either a Baptist/Methodist/Presbyterian/Quaker
Any protestant denomination

Catholics... mormons... not really

Jefferson was the only "Anglican" and he wasn't a serious one

2 cents

You still beleive this? before Obama there had never been a Black president either

And Obama is.... United Church of Christ... that doesnt sound so Iberian/Anglo/Protestant

On your point, no creed is more overly represented than Episcopalians in all of US govt and Military complex

 

[snoop]

Europe is printing!

Uncle Sam dropped another $100 billions of funding for ongoing infrastructure projects across the country. Include w/ the bill passed this morning was a measurement to prevent student loans interest rates to double to 6% from the current 3%.