Singapore Expats Forum

The BillyB, Aster & JR8 roundtable!

Discuss about the latest news & interesting topics, real life experience or other out of topic discussions with locals & expatriates in Singapore.

User avatar
JR8
Immortal
Immortal
Posts: 16514
Joined: Wed, 24 Mar 2010
Location: K. Puki Manis

Postby JR8 » Fri, 08 Jun 2012 8:29 pm

Let's have some fun!! :lol:

'As everyone knows' Spain is going to cost at least e500bn to bail out. But how much do you think they will ask for this weekend? Their little liquidity problem is going to be downplayed as much as possible, not least because it spells doom for the euro.

I say e30bn will be asked for, and that solely on the basis of bailing out a bank or two this week.

hehehe....

User avatar
BillyB
Manager
Manager
Posts: 1807
Joined: Fri, 23 Jul 2010
Location: My laptop

Postby BillyB » Fri, 08 Jun 2012 9:50 pm

I'd be more concerned about China cutting rates in the long term

User avatar
JR8
Immortal
Immortal
Posts: 16514
Joined: Wed, 24 Mar 2010
Location: K. Puki Manis

Postby JR8 » Fri, 08 Jun 2012 10:50 pm

Care to elaborate?

User avatar
BillyB
Manager
Manager
Posts: 1807
Joined: Fri, 23 Jul 2010
Location: My laptop

Postby BillyB » Sat, 09 Jun 2012 8:21 am

I believe China is preempting a Euro bail-out and the ripple that creates, by acting early to stimulate economic activity. They've also got one eye on their growth rate which is in danger of slipping below the magic 8% figure - of which they attach significant importance to.

A slow down in China will also hit Australia and the vicious circle begins......

User avatar
JR8
Immortal
Immortal
Posts: 16514
Joined: Wed, 24 Mar 2010
Location: K. Puki Manis

Postby JR8 » Sat, 09 Jun 2012 10:53 am

Thx, eeenteresting... that had been pretty much completely off my radar.


http://www.telegraph.co.uk/finance/fina ... e-cut.html

User avatar
BillyB
Manager
Manager
Posts: 1807
Joined: Fri, 23 Jul 2010
Location: My laptop

Postby BillyB » Sat, 09 Jun 2012 11:03 am

Some good articles on Bbg over the past few days

http://www.bloomberg.com/news/2012-06-0 ... rs-1-.html

User avatar
JR8
Immortal
Immortal
Posts: 16514
Joined: Wed, 24 Mar 2010
Location: K. Puki Manis

Postby JR8 » Sat, 09 Jun 2012 11:36 am

--------------
'It may not prove so easy to convince global investors to mop up large issues of debt. "Our clients won't touch the EFSF because nobody knows what it really is. They have cut it out of their benchmarks altogether," said one bond trader.

The Chinese issued their own verdict on Thursday. The country's sovereign wealth fund said it will not buy any more debt in Europe until the region takes radical steps to restore credibility. "The risk is too big, and the return too low," said Lou Jiwei, the chairman of the China Investment Corporation.

"Europe hasn't got the right policies in place. There is a risk that the euro zone may fall apart and that risk is rising," he told the Wall Street Journal.'
--------------
http://www.telegraph.co.uk/finance/comm ... itoral0806

User avatar
JR8
Immortal
Immortal
Posts: 16514
Joined: Wed, 24 Mar 2010
Location: K. Puki Manis

Postby JR8 » Sun, 10 Jun 2012 11:48 am

JR8 wrote:I say e30bn will be asked for, and that solely on the basis of bailing out a bank or two this week.


[i]'He [Spanish FinMin] denied that it was a rescue of the Spanish economy as a whole, but rather “financial support”

User avatar
BillyB
Manager
Manager
Posts: 1807
Joined: Fri, 23 Jul 2010
Location: My laptop

Postby BillyB » Sun, 10 Jun 2012 5:46 pm

Someone is giving those jenga blocks at the bottom of the tower a little pull!

User avatar
JR8
Immortal
Immortal
Posts: 16514
Joined: Wed, 24 Mar 2010
Location: K. Puki Manis

Postby JR8 » Sun, 10 Jun 2012 7:34 pm

And still the politicians haven't got the slightest clue what to do. Heavens help us.

Even on Friday they were denying that a bail-out was required, and even today they're pretending the issue is solely one of a bank or two with 'little problems'. I wish this comedy came with a smaller price tag.

Edit to add:

'The Prime Minister said he was not pressured into requesting aid... [next breath]... Spain admitted last week that its high borrowing costs of between 6pc and 7pc have meant it was effectively locked out of the money markets.'
http://www.telegraph.co.uk/finance/fina ... ilout.html

I'm sitting here wondering, really wondering, who the intended audience of this ridiculous lying is. I mean the politicians say it because they think people will be fooled, but who... I'm at a loss...

User avatar
JR8
Immortal
Immortal
Posts: 16514
Joined: Wed, 24 Mar 2010
Location: K. Puki Manis

Postby JR8 » Mon, 11 Jun 2012 4:57 pm

Ere, this is good for a laugh.

Italy, that can barely fund itself, is on the hook for 22% of the e100bn Spanish bail-out.

Can't be long until Rome come begging for a 'little help'?

Shutuppayaface!

User avatar
Strong Eagle
Moderator
Moderator
Posts: 10831
Joined: Sat, 10 Jul 2004
Location: Off The Red Dot
Contact:

Postby Strong Eagle » Mon, 11 Jun 2012 5:38 pm

Let's see... Spanish government bails out Spanish banks... Spanish banks bail out Spanish government. Round and round the money goes, where it stops, nobody knows.

User avatar
BillyB
Manager
Manager
Posts: 1807
Joined: Fri, 23 Jul 2010
Location: My laptop

Postby BillyB » Mon, 11 Jun 2012 5:51 pm

I saw one of the Spanish ministers on bloomberg today chirping on about the funding 'not being a bailout, and, apparently, the first the Spanish people knew about the bailout was watching it on TV. Their government didn't even tell them!

What a farce - it's like something out of a Benny Hill sketch

User avatar
JR8
Immortal
Immortal
Posts: 16514
Joined: Wed, 24 Mar 2010
Location: K. Puki Manis

Postby JR8 » Tue, 12 Jun 2012 3:33 am

--------------
[i]'Spain had hailed its bail-out as a victory, presenting the aid from the eurozone’s rescue funds as coming without economic conditions.

But text messages published on Monday in Spain’s El Mundo showed politicians had used the threat of further eurozone turmoil to broker the deal.

Mariano Rajoy, Spain’s prime minister, reportedly told his finance minister: “Resist, we are the 4th power of the EZ [eurozone]. Spain is not Uganda.”

User avatar
JR8
Immortal
Immortal
Posts: 16514
Joined: Wed, 24 Mar 2010
Location: K. Puki Manis

Postby JR8 » Wed, 13 Jun 2012 1:59 am

State theft, I mean 'capital controls' coming to Greek borders soon...

Image


Return to “General Discussions”

Who is online

Users browsing this forum: No registered users and 2 guests