Dow Futures

[Medic3]

Dow Futures down 125 pts at 840 pm EST , was down about 175 earlier.

Nikkei down 220

[DryCreek]

Uh oh. Time to unleash QE to infinity (and Beyond!).

[BoatGuy]

Look at all the good news! France elected a socialist that is about to tell Germany to stuff austerity up the old gazoo. Greece may well do the same. The euro took a dive as soon as the market opened and the dollar shot up! Woohoo! Maybe the treasury should get a new motto? "The Dollar - It Doesn't Suck As Bad As The Euro"

The EU is doomed, I think. If the people think they are poor now, just wait till the new pollies get into office and give them, say, less than a year to get the ball rolling... off a cliff.

[DryCreek]

The EU is doomed, I think. If the people think they are poor now, just wait till the new pollies get into office and give them, say, less than a year to get the ball rolling... off a cliff.

I don't know, it seemed like a good result when Iceland gave the raised middle finger to the banksters.

[undead]

and our monkey invites the new French cheese-eating monkey to the White House already

socialist circle-jerk

[gdpetti]

Remember it was our Fed, Treasury Secretary and company that kept 'requesting' the EU to do what we did, have the ECB (their Fed) spend trillions like we did, just keep most of it in debt and out of the money supply as much as possible and don't tell the public. Holland and the PM of Italy - Monti and his GSachs buddy in Greece (who might not be around much longer) are all thinking along these lines it seems.

Just keep 'kicking the can down the road' till '14 when the comets arrive, and after that who cares, anyone left standing Please Turn the Lights Out!

But seriously, what else can they do? Tell the Truth?

[KenGin31]

Yep. Tomorrow will be bad. Wait till he starts his tax the rich agenda.

[BoatGuy]

I don't know, it seemed like a good result when Iceland gave the raised middle finger to the banksters.

Not sure what numbers you're looking at. But, Iceland has a GDP of around $12.5 billion. Buffett could recapitalize the country out of petty cash. As for giving the banksters the middle finger, they created 3 new banks to help stabilize the three big banks that failed and absorb their assets. Two of those banks have foreign majority ownerships. The third one is actually owned by the state.They also took $10 billion from the IMF. So, in relation to the overall EU, they are a grain of sand on the beach, IMO. Almost one half of Iceland's GDP is currently owed to Dutch and British nationals, who lost their money when one of the big banks folded. So, it doesn't look too rosy to me. But, being small with some natural resources (I believe mosty fishing and agriculture), they at least have a chance at getting out of the morass. On the bright side, their growth has gone from -6.8% to +2.4% since 2009.

I know that they started looking at joining the EU in 2010. If I were Iceland, I'd run the other direction.. in a hurry. And, it looks their citizens are starting to feel the same way.

(Source for most facts and figures was the CIA Factbook 2012
https://www.cia.gov/library/publicat...k/geos/ic.html)

[Double_A]

Look at all the good news! France elected a socialist that is about to tell Germany to stuff austerity up the old gazoo. Greece may well do the same. The euro took a dive as soon as the market opened and the dollar shot up! Woohoo! Maybe the treasury should get a new motto? "The Dollar - It Doesn't Suck As Bad As The Euro"

The EU is doomed, I think. If the people think they are poor now, just wait till the new pollies get into office and give them, say, less than a year to get the ball rolling... off a cliff.

The dollar will benefit for a short period of time until 1) people find a better place for their money and 2) The USA falls apart in much the same manner.

[DryCreek]

Not sure what numbers you're looking at. But, Iceland has a GDP of around $12.5 billion. Buffett could recapitalize the country out of petty cash.

Sometimes it isn't the size of the first shot - it's merely the fact that it was fired. In the long run you are right - they merely shrugged of the yoke of the British bankers, choosing instead the Dutch. They decided that the British debts were not valid, and would not be honored - thus my reference to them giving bankers the finger.

[BoatGuy]

The dollar will benefit for a short period of time until 1) people find a better place for their money and 2) The USA falls apart in much the same manner.

Absolutely. The important thing to remember, is that the numbers "they" tout as being indicative of the value of the dollar, are actually ratios, and not absolute values. So, when one currency goes down, the others go up, and vice versa.

It's been said before, and I'll say it once more... The dollar is just the least ugly girl at the dance. If you want an indication of absolute value, look at inflation. That really says it all. Oh, and don't use the government's numbers for that either. Use shadowstats.com.

Apparently, the government thinks that food and energy shouldn't be included in inflation numbers, since they make the number so high. Currently, the REAL inflation rate is 6%.

[Hansa44]

At least the price of oil is dropping. Could mean a couple of things. People are tightening their belts and not using near as much. OR.........................

This is the precurser to prices escalating big time for the summer....



Crude Oil and Commodity Prices
May, Monday 7 2012 - 11:06:24
WTI Crude Oil
$96.57 ▼1.92 1.95%
11:06 AM EDT - 2012.05.07





Brent Crude Oil
$112.09 ▼1.09 0.96%
11:06 AM EDT - 2012.05.07