Economist is spot-on
The IMF says that last December’s austerity measures go far enough; further cuts would be “pro-cyclical” and produce “policy uncertainty”. The government needs to push through structural reforms in the housing and labour markets, let house prices fall and banks deleverage. Straightening out the kinks in the Dutch economy may mean years of depressed growth. Unpredictable austerity measures will only slow the process.
Watch and see what further deleveraging will do with ING stock price.
I said it before, bank stocks are gambling tools and should not be allowed to be traded until their balance sheets are aligned with the new post-capitalist realities.
Swiss Voters Restrict Pay of Executives
By RAPHAEL MINDER 2:32 PM ET
Swiss residents voted on Sunday to impose some of the world’s tightest restrictions on executive pay.
The market is bipolar since 2003. See pattern of the SP500 Torres del Paines - towers of pain. This pattern will last probaly until 2020.
Sentiment: Strong Sell
So why the hype around 1500? Is a correction coming up? Most likely.
I just put my money in a 10 years time deposit. I believe in a future, not only in the next 3 months.
Some Dutch politicians have argued for a writedown of ordinary bonds of troubled Dutch banking and insurance group SNS Reaal, the paper said.
SNS Reaal, which received Dutch state aid in 2008, is widely expected to require a second bailout because of problems at its property unit and is due to come up with a restructuring plan when it reports its earnings next month.
Fitch could not immediately comment.
"We say now that the chance is 99.5 percent that the government supports ordinary bond holders. If this assumption proves to be wrong you should no longer look at banks' current rating but at their viability rating," Gandy was quoted as saying, without specifically referring to SNS Reaal.
A viability rating, which indicates a credit judgment without implicit state guarantees, is usually two notches lower for big banks than current ratings, the paper said.
Sorry for nasdaq_1010 cynicism. Last post for him: Unruly capitalism needed to be stopped. I'm not sure the fiscal way solves it - Obama had the chance to retighten the rules of the game in 2008. Now it looks the game itself is changing, which makes things imo more unpredictable.
If you don't like the Metro interface get all the colourfull apps off and put your own stuff on the starter interface. There are ways to work around the metro interface. What I absolutely prefer above artificial niceties are file handling and file directory. I do think though some strong window features like right click handling are to be brought back.
Windows 8 may have a different look and feel and may have a usability issue for some but what's more important is that the OS is improved substantially. Suddenly programs that didn't work on Windows Vista work again and data I thought I couldn't use anymore is accesible again. My complements.
Once you get the knack it will be fine. I have Itunes running with it. Tip: get all those redundant Apps off the starters pages. A bit of customization and personalization does wonders.
""""Deutsche Bank isn’t the only one. Capital flight continues to set new records in Spain. According to the Bank of Spain’s just released Balance of Payments, €41.3 billion left the country in May, bringing the first five months of the year to €163 billion. Eleven consecutive months of declines! For a total of €259 billion. 21.6% of GDP. And those are the people who know best.
The coordinated confidence-inspiring words from the Eurozone’s fearless leaders about doing whatever it would take to save the euro was a sign that they were afraid of Spain. Its threat of default had been effective. The ECB caved. And in doing so, it threw down the gauntlet. Read.... War Of The Central Banks?"""
All banks that are worth preserving will be nationalized. Equity holders will probably fleeced.
The mass has a lot of catch-up to do before they see any artificial created bargains. Discount the bubble (1995-present) and the dilution in 2008, and also a new world in which banking can't afford the old ways with excessive leverage and your bargain proposition melts very vast. This bank could be nationalized in two years.
'Only the very big banks can survive'
We need to return to 'small limit purpose banking'. More small banks is good for competition. The Euro anti-trust regulation is a complete failure to allow to big to fail banks in its zone.
since 2000. But this last weeks beats everything: You can sense the clif, you can see it, you can look over it but these WS clan and their bank buddies can turn it around on every unsubstantiated rumour (now Germany and France 2 T dollar fund). Look at AAPL earnings; this could usher in the end of the third industrial age (computer and microchips - that has been extended by smart phones sales last few years). The bank are completed overleveraged. If we hit a twenty transition period (slump) until the next industrial age they are totally dunzo.
Maybe an intermediary two-tier Europe would make it easier for policy makers to keep the EU ship afloat: C-Euro (core euro: Germany, The Netherlands, Austria, Finland, Luxemburg, possibly France and Belgium) and P-Euro (Peripheral Euro). That would make QE and depreciation a lot easier, but still complex, because Europe is a zone with many economic 'speeds' and folkloric institutions, also between countries in the South. But it can be done - the siesta in Spain has considerable less impact on business in Spain than it use to be.
See for further reading this blogger: