ECB needs to buy or go home
At this point, we have to hope the European Central Bank counters the Italian bond rout by printing trillions of euros.
Pretty simple: Buy or go home. That's what you have to hope for soon from the European Central Bank to counter the Italian bond rout. The ECB has to go buy 2 trillion euros' worth of Italian bonds. Yeah. It does have to be that big. It has to clean them out. The sellers. The investors. The traders.
It has to end this nonsense by printing euros, trillions of them, and making it very clear that the crisis is over.
To do that, these leaders will have to do two things:
- Remember that when governments run out of money, they can do desperate things that can pull many countries down.
- Forget what happened in Weimar.
Both of them have to happen.
I know this is drastic. And I know it is probably not going to happen.
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But if there is a chance to get beyond this, something must be done with a level of force that tells people that Italy will not go down.
Then we have time to work out a more realistic solution.
If it doesn't happen, then we will have ripple effects that could shut down the banking system rather quickly and make you feel pretty darned silly about being invested in anything financial.
One other thought: Last night's debate showed me that they had better get their act together over there, because if any of the Republicans whom I saw last night wins the election, there will be no help whatsoever coming from the White House -- and, if anything, scorn would be the strategy -- if indeed scorn is a strategy at all.
pretty darn silly being invested in anything financial?
pretty darn sillier listening to your "tips"
cramer your unprofessional outburst at the debate was way worse than perry's gaff
why didn't you ask a pertinent question like:mortgage rates are at record lows so what good is that if nobody is allowed to re-fi?
instead you made some obscure rant about helping little people
please help us little people by curing your mouth diarrhea
remember , i am giving you yet another chance by tracking your strong
thesis of buying goog at 612 because it is going to 715-750 in 6 months
today's score: day 3...goog at 595
He really gets paid to write this kind of nonsense? How about hiring me to write for you: I have this fast disappearing trait called common sense. Really: think about it: Spend 2 trillion Euros by countries that are themselves not too far from the edge of default to tell everyone that we are serious. Serious about what? Pulling the whole world into the most massive depression ever seen? How do you get away with printing this type of trash as if it made sense? Even worse; there are many people who apparently can't think for themselves who agree with this nonsense.
GOD Help Us !!
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Stocks drift lower and bonds are hit as investors await the Fed. Prepare for higher volatility this week.
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