TMD

In the long run Germany knows they can't stop this. Going BK trying to do so makes no sense.

Expect them to ringfence and ride out the storm IMO. This is financial sanity not suicide.

Everyone will lose jobs. Everyone will see severe pain. DOing nothing for Germany is the lesser of two evils unfortunately.

Well, look on the bright side. Karl will have high schools named after him and Europe will be a cheap holiday.

Denninger Elementary School

No Social Studies
No Science
No Music
No Bull****

All Math....

Could happen :)

uhm... Agree on the no bull**** - but not the rest. Personally could do without the music, but you honestly think there wouldn't be social studies and science?!

Come on...

Is there any public record that shows the exact debt owed, rollover schedules for the bonds etc etc. for Italy?

It would be interesting to see what the "situation" looks like.

I wanted to understand does this rate spike hit the Italians immediately or does this play out for another couple of months(or years?!?).

"Social Studies" would be replaced by History and Geography. Also, Philosophy ought to be required so people can learn to question their relationship with each other and with the State. Reading, Writing, Math, Science, Engineering, should be required. Music and art should be made available for interested students. This scenario would be a private school, btw, and not require extortion for funding.

isn't math a science?

and I'd note we are veering badly off topic for a breaking price thread.

Quote:

isn't math a science?

It's reality. In fact, they should rename it reality class, so students understand its importance.

You guys forgot two important classes :

Logic

Ethics

ZZT: I don't want any unionized people teaching ethics. Ever. That is inherently self-defeating.

Rickyd in the middle of the first page

http://tickerforum.org/cgi-ticker/akcs-w....

@Particenens

Do you mean this...

http://blog.thomsonreuters.com/index.php....

Now we know where Tanzilla got his tan... visiting the lovely beaches of the Mediterranean



Would you believe this guy is still alive and walking free?

At Denninger High, repeated failures to grasp mathematical truths would result in his version of detention, known affectionately as "Skull**** Saturday". Students would be required to repeat "exponential growth cannot continue indefinitely" while removing pigeon **** from the statues of Austrian economists in the courtyard with toothbrushes. Further failures to grasp these concepts would require the student to eat his or her lunch from a spacial bag, known as the "Bag 'o Dicks". Students who still can't grasp the concepts would have their transcripts(and voting rights) burned in a ceremony in front of the whole student body. This would be known as "Dying in a fire."

The question is not whether there are bond vigilantes but when they will show up in the US. Right now our 10 year is 1.96% on the yahoo quote board.... Seems are the money still runs to US bonds.

It will, as long as Europe and Japan are still in trouble. The US is the CENTER of the global financial system. The center won't fall until the periphery goes up in flames. During that time, capital will continue to flow to the US. Rates will remain low. Eventually the focus will fall on the US debt situation, and THEN we go . Not before. It is not so much that the rest of the developed world is screwed more, IMO, it is that they are screwed first. We are still a (literal) few years away from a US economic meltdown I think.

Frag wrote..

At Denninger High, repeated failures to grasp mathematical truths would result in his version of detention, known affectionately as "Skull**** Saturday". Students would be required to repeat "exponential growth cannot continue indefinitely" while removing pigeon **** from the statues of Austrian economists in the courtyard with toothbrushes. Further failures to grasp these concepts would require the student to eat his or her lunch from a spacial bag, known as the "Bag 'o Dicks". Students who still can't grasp the concepts would have their transcripts(and voting rights) burned in a ceremony in front of the whole student body. This would be known as "Dying in a fire."

I just totally destroyed my keyboard.

You're rough on keyboards. :)

Italian 12 month bills now yield 8.46%...a truly parabolic chart http://www.bloomberg.com/apps/quote?tick....

That really is quite impressive.

That is impressive. Even I admit it.

Rumors of Bondzilla's demise were a bit premature, methinks.

Not allowing the CDS to kick in (even though probably worthless and would not have covered the losses anyway) was a sever blow to the polly anna bond buyers.

Quote:

Not allowing the CDS to kick in (even though probably worthless and would not have covered the losses anyway) was a sever blow to the polly anna bond buyers.

Confidence destroyer. Now at the slightest hint of trouble, there is panic selling. My theory is that the CDS decision is having a material impact on Italian debt and accounts for the massive moves.

I've said that here for YEARS now. The last thing to happen is that the banks' confidence in the system is shattered. Is this it? I don't know. Depends upon what governments can do now that will CONVINCE them to trust that the governments can continue to loot their citizens.

What I do know, is the tide is going out, and soon we will see who is swimming naked.

That didn't work out so good for Enron.