[TheNegotiator]

Call me a cynic, but there is something not quite right with the way the Eurozone are being squeezed. One after the other, they are being pushed to the limit. Spreads are widening regardless, but when it's a country's 'turn', the heat really gets turned up.

So Italy is in the spotlight now. Confidence votes and resignation denials from Berlusconi in the media makes it pretty obvious that Italy needs to put measures in place to make the market 'happy'. The mass financial consciousness, has decided that it can no longer accept anything less than strong action and commitment by Italy to paying it's money back. If "The Market"(TM) decides that Berlusconi is no longer suitable to run this commitment to repayment of debt, the market will squeeze the politicians so hard until it gets its way. I suspect this is going to happen but we'll have to see.

The trillions in debt Italy owes is rather more than Greece. So my thought is, how long can Italy politically procrastinate in the hopes of maintaining the illusion that they are in control and not TM? If it's not 'fixed' quickly, things are gonna get a whole lot uglier!

[TheNegotiator]

I'm sure there are others and if anyone wants to post a good one, please do so. But here is a live Eurozone debt crisis blog from the FT:-

Live Eurozone Debt Crisis Blog

[Tams]

Originally Posted by TheNegotiator »

Call me a cynic, but there is something not quite right with the way the Eurozone are being squeezed. One after the other, they are being pushed to the limit. Spreads are widening regardless, but when it's a country's 'turn', the heat really gets turned up.

So Italy is in the spotlight now. Confidence votes and resignation denials from Berlusconi in the media makes it pretty obvious that Italy needs to put measures in place to make the market 'happy'. The mass financial consciousness, has decided that it can no longer accept anything less than strong action and commitment by Italy to paying it's money back. If "The Market"(TM) decides that Berlusconi is no longer suitable to run this commitment to repayment of debt, the market will squeeze the politicians so hard until it gets its way. I suspect this is going to happen but we'll have to see.

The trillions in debt Italy owes is rather more than Greece. So my thought is, how long can Italy politically procrastinate in the hopes of maintaining the illusion that they are in control and not TM? If it's not 'fixed' quickly, things are gonna get a whole lot uglier!

scary, isn't it.

the scariest thought -- the domino is falling one by one, and USA is somewhere in the line !!!

[TheNegotiator]

And what's it all about? The mega rich not losing too much money. And who'll get stuffed the most? The common man(and woman ).

[Tams]

I don't know who is telling the truth...

statistics can be sliced different way to create different "truths".

The Top 10 Percent of Earners Paid 70 Percent of Federal Income Taxes

Top earners are the target for new tax increases, but the U.S. tax system is already highly progressive. The top 1 percent of income earners paid 38 percent of all federal income taxes in 2008, while the bottom 50 percent paid only 3 percent. Forty-nine percent of U.S. households paid no federal income tax at all.

The Top 10 Percent of Income Earners Paid 71 Percent of Federal Income Tax

[MadMarketScientist]

Originally Posted by Tams »

scary, isn't it.
the scariest thought -- the domino is falling one by one, and USA is somewhere in the line !!!

Yup ... the only thing 'good' about the US is that Europe is worse! Funny but the flight to safety from the Europe is straight to US treasuries ... but eventually hopefully it will be to gold and silver.

MMS

[TheNegotiator]

Spain anyone?
........

[zdo]

Italian numbers dwarf the scale of Greece issues and
fwiw, I personally think Italy is ‘culturally’ more predisposed to default than is Greece

ECB will find a way to ‘counterfiat' - (even though they aren’t supposed to)... so Italy may not be 'next' for sure....
Marc Faber: They Can Postpone the Endgame For Five or Ten Years

.. btw, the current EUR rally is not keeping up with the US index rally like usual ???
C’mon fly little Euro.
http://www.traderslaboratory.com/for...eurotrash.html
…
http://www.traderslaboratory.com/for...rotrash-6.html
Fly! …so I can short you some more...