Financial terrorism

Så här ser finansiell terrorism ut signerad bla Godman Sachs. Istället för att skicka unga pojk soldater till Afganistan för att dödas i ett fullständigt meningslös krig bör vi skicka våra grabbar till Wallstret för att hänga upp bankster, som nu skuldsatt generationer av Amerikaner såväl som Europeer för generationer och samtidigt sett till att berika sig själva in i absurdum, i närmast lyktstolpe.

Alldeles på egen hand har dessa finansiella terrorister i det närmaste ödelagt den reala västerländska ekonomin. Det fullständigt groteska är att de som tack för hjälpen dessutom få en oherrans massa skattepengar som stöd i alla upptänkliga former. Detta då deras "verksamhet" anses av vissa men inte särdeles mång längre som en "samhälls kritisk nytta".

Utan investeringsbanker som Lehman, Goldman Sachs fungerar inte samhället sägs det. Det som nu närmare studerar inte minst de sk swappar som nu riskerar att sänka hela Euro samarbete vet att detta bara är ren och skär lögn. Samma typ av försåtlig finansiell minering av den reala ekonomin har vi sett i usa med subprim, paketeringen av värdelösa sk SIVs och sist men definitivt inte minst, derivat hanteringen som fortfaranmde och på allvar riskerar att spränga upp världens ekonomi i småbitar.

So Mr Obama - where is that bloody change you where talking about?

Britain at risk of worse deficit crisis than Greece
"With the budget deficit heading towards 13 per cent of GDP this year, and perhaps exceeding that of Greece, it is clear that a more credible plan to restore the public finances to health will be required shortly after the general election to keep the markets and rating agencies at bay.”

A host of economists and businessmen have urged the Government to slash the deficit faster and deeper than it currently plans, with 20 leading academics warning last weekend that without action on the public finances, Britain could face a crippling fiscal crisis.

"However, the Government’s cost of borrowing, as signified by the interest rate it pays on its bonds, rose to 4.1 per cent – the highest level in 15 months."
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/7266097/Britain-at-risk-of-worse-deficit-crisis-than-Greece.html

A troubling chart from Thomson Reuters this morning, showing Spain facing $203.7bn maturing syndicated debt in the coming six years. That is roughly a fifth of the country’s annual gross domestic product (which was $261.5m for Q4 last year). Italy is second with $95.9bn over the same period. Greece - orange on the chart - is almost insignificant in context.
http://blogs.ft.com/money-supply/files/2010/02/synd-loans.png

Italy Now Suspected Of Using Derivatives To Hide Their Debt Problem, Just Like Greece
http://www.businessinsider.com/eurostat-suspects-that-italy-is-using-derivatives-to-hide-their-debt-problem-just-like-greece-2010-2

Eurozone contagion fears spread to Spain
The problem is size. The Nobel Prize-winning economist Paul Krugman put it this way: "In economic terms the heart of the crisis is in Spain, which is much bigger". The EU's Competition Commissioner Joaquin Almunia – a Spaniard – has suggested that Spain's economic problems look increasingly like those of Greece and Portugal. But in a worst case scenario, Greece is affordable – about 2.5 per cent of European GDP.

Spain, conversely, accounts for about 16 per cent of EU GDP, and is a much more expensive proposition for restoration work. Indeed, there are some grounds for supposing that, even if Berlin wanted to, it might be unable to afford to take on Spain's fiscal challenges. The IMF remains an option, but the damage to the eurozone's cohesion and credibility would be that much greater if an IMF team had to do what the EU demonstrably could not.

Underlying Spain's problems is a badly distorted economy. Unemployment is the obvious threat to stability. At almost 20 per cent of the workforce, there is little doubt that the Spanish economy seems peculiarly unable to generate jobs. Its bubble economy depended on a real estate boom; now its underlying competitiveness is in doubt.
http://www.independent.co.uk/news/world/europe/eurozone-contagion-fears-spread-to-spain-1901754.html


Italy's Audit Court late Wednesday warned that derivative contracts used by Italian municipalities could magnify debt and imbalances over time, potentially forcing authorities to "wring sacrifices from future generations for 20 or even 30 years," Dow Jones Newswires reported.

Italy used derivatives in the 1990s to lower its deficit as it sought to qualify for membership in the euro, Bloomberg reported Wednesday. The swaps allowed Italy to cut interest paid and trim its 1997 deficit, the report said. The European Commission approved the transaction
http://www.marketwatch.com/story/italy-draws-attention-amid-greek-swaps-controversy-2010-02-18?dist=beforebell