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Wow, the market doesn't like the Greek bailout
Topic Started: Apr 26 2010, 02:33 AM (437 Views)
jon-nyc
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Even short-term bonds are floundering. Check out these yields on their 2-Yr.

Posted Image

The market seems to think they'll be forced into some kind of restructuring.
In my defense, I was left unsupervised.
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Klaus
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HOLY CARP!!!
The bailout is insane. It seems that more and more politicians in the Euro states (mostly Germany) recognize that a bailout does not solve any problem.

The only reasonable solution in my opinion is one where a) the debts are restructured, and the debitors will only get a part of their money back (they knew and profited from the risk in the past) and b) Greece abandons the Euro such that it can devaluate its currency to be competitive again.

The sad part of the story is that it is likely we will hear it again soon with Spain/Portugal/Ireland and maybe Italy.
Edited by Klaus, Apr 26 2010, 04:47 AM.
Trifonov Fleisher Klaus Sokolov Zimmerman
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jon-nyc
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The market seems to be predicting one of those two options. Either way the bond holders would be taking a haircut.

I think any austerity plan consistent with full repayment of debts would severely threaten Greek social cohesion.

In my defense, I was left unsupervised.
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Klaus
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jon-nyc
Apr 26 2010, 04:49 AM
I think any austerity plan consistent with full repayment of debts would severely threaten Greek social cohesion.

...or the wallet of the other Euro states :cursing:
Trifonov Fleisher Klaus Sokolov Zimmerman
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jon-nyc
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If it does fall out or default, what happens to Portugal? and the rest of the PIIGS?
In my defense, I was left unsupervised.
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jon-nyc
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By the way, I indirectly own about 6k US worth of short term Greek treasuries, via an international sovereign bond fund. The fund holds two issues maturing in Aug-2011, both of which are trading at a 10% yield.


So pony up some cash, would you Klaus? :lol:
In my defense, I was left unsupervised.
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Klaus
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:veryangry: :veryangry: :veryangry: :veryangry:
Trifonov Fleisher Klaus Sokolov Zimmerman
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John Galt
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Klaus
Apr 26 2010, 05:05 AM
:veryangry: :veryangry: :veryangry: :veryangry:
jon, I think that's a "no".

In fact, I think it's a "hell, no".
Let us begin anew, remembering on both sides that civility is not a sign of weakness.
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Piano*Dad
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Bull-Carp
Yeah, and it's also what the Icelanders are saying to the Brits.
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Kincaid
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HOLY CARP!!!
jon-nyc
Apr 26 2010, 02:33 AM
Even short-term bonds are floundering. Check out these yields on their 2-Yr.

Posted Image

The market seems to think they'll be forced into some kind of restructuring.
I hope it's not doing that across the board with bonds here. Just last Thursday I put $5k of college kids money into a bond fund that attempts to beat inflation - so that maybe we'd get a little something extra when we pull it back out in September. :P

Meanwhile, I'm still holding onto an international stock fund that I put into the 529 plan ($1000) into back in 2008 - been languishing around $850 ever since.
Kincaid - disgusted Republican Partisan since 2006.
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Mark
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You're better off going to Vegas or playing the lottery Kincaid.

I refuse to play that game. Immoral, unethical thieves who produce nothing and make their money off of other people's misery.
___.___
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When I see an adult on a bicycle, I do not despair for the future of the human race. H.G. Wells
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John D'Oh
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MAMIL
Is this the beginning of the end for the EU?
What do you mean "we", have you got a mouse in your pocket?
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jon-nyc
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Mark
Apr 26 2010, 07:29 AM
Immoral, unethical thieves who produce nothing and make their money off of other people's misery.
As opposed to all those upstanding citizens selling gold to Glen Beck's audience.
In my defense, I was left unsupervised.
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Luke's Dad
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Emperor Pengin
So this is what they mean by greek style.
The problem with having an open mind is that people keep trying to put things in it.
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Mark
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jon-nyc
Apr 26 2010, 07:34 AM
Mark
Apr 26 2010, 07:29 AM
Immoral, unethical thieves who produce nothing and make their money off of other people's misery.
As opposed to all those upstanding citizens selling gold to Glen Beck's audience.
At least when you have gold in your hands you have something that has real value that can be used in the production of goods.

Producers vs. Looters.

I will always be a producer, never a looter.
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When I see an adult on a bicycle, I do not despair for the future of the human race. H.G. Wells
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Axtremus
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Mark
Apr 26 2010, 08:11 AM
At least when you have gold in your hands you have something that has real value that can be used in the production of goods.
But you can't eat gold.

Horace is the only guy with the right idea. He has a corn.
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Mark
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HOLY CARP!!!
Axtremus
Apr 26 2010, 08:14 AM
Mark
Apr 26 2010, 08:11 AM
At least when you have gold in your hands you have something that has real value that can be used in the production of goods.
But you can't eat gold.

Horace is the only guy with the right idea. He has a corn.
Yes you can eat gold!

http://www.businesspundit.com/10-ways-people-eat-gold/
:tongue:
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When I see an adult on a bicycle, I do not despair for the future of the human race. H.G. Wells
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John D'Oh
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MAMIL
Mark
Apr 26 2010, 08:17 AM
Axtremus
Apr 26 2010, 08:14 AM
Mark
Apr 26 2010, 08:11 AM
At least when you have gold in your hands you have something that has real value that can be used in the production of goods.
But you can't eat gold.

Horace is the only guy with the right idea. He has a corn.
Yes you can eat gold!

http://www.businesspundit.com/10-ways-people-eat-gold/
:tongue:
An abundance of riches!

Why people should eat more excrement
What do you mean "we", have you got a mouse in your pocket?
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1hp
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Fulla-Carp

Quote:
 
It seems that more and more politicians in the Euro states (mostly Germany) recognize that a bailout does not solve any problem


Wish US politicians had recognised before September 2008.

There are 10 kinds of people in this world, those that understand binary and................
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Steve Miller
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Bull-Carp
John D'Oh
Apr 26 2010, 09:31 AM
There is no way in hell I am going to click on that.

I'll take your word for it. :eek:
Wag more
Bark less
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jon-nyc
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Yields jumped to 13% yesterday.

This is getting crazy. Their bonds are now riskier than either Argentina's or Venezuela's.
In my defense, I was left unsupervised.
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jon-nyc
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Interesting stats on exposure to Greek debt. (in USD)

French banks - 75B,
German - banks - 43B

- all European banks 252B

US banks - only 16B

In my defense, I was left unsupervised.
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