Necrophilia on Wall Street, egomania at the BIS, false history from the EC
Miss America and Wall St….still on the job
Two major Wall Street firms are in detailed discussions to create and sell the world’s first bond backed by home-rental payments, people familiar with the matter say. Investors still are hungry for the high returns that are likely to accompany a first-of-its-kind deal, which would be viewed as more risky than well-known securities. The top-rated slice could receive a rating as high as single-A or triple-B from some of the credit-rating firms, some of the people familiar with the deal add. The structure of the deal would be similar to better-known securities, such as those backed by home or commercial mortgages.
Well that sounds nice and safe, what? Absolutely spiffing idea. Here’s another gem via Yahoo finance (my emphasis):
‘Germany maintains a € 3 billion trade surplus with Greece, which means that Germany outsells the assistance needed by Greece almost on a 3:1 ratio basis….Greece is experiencing only a 5% export growth from the EU 27 (during a period that Greece is forcibly asked to turn extrovert) and a 16.4% export growth from elsewhere.’More specifically, Greece is experiencing a Year-to-Date export growth of 7.4% to France, [BUT]: 35.8% export growth to Italy and 40.2% export growth to Spain. The rest of Greece’s phenomenal export growth comes from North Africa with Morocco, Algeria, Libya and Egypt leading the way. And let’s not forget Turkey with 30.2% export growth which is now clearly the number #1 export market for Greece (almost the size of 3 Germanys). So what is this picture telling you? The obvious I think; namely that Greece is a sea faring nation which since antiquity has traded with the Mediterranean and has built its wealth on Med trade. And you don’t have to be in the EU to do that.‘
This is a brilliantly succinct analysis by Dean, but above all it is a damning indictment of the hypocritical falsehoods pouring daily from Wolfie Wheelchair and his dumbo accomplices Olga RaininSpain and Klosed Wriggling. As I’ve been saying since mid 2011, Greece holds all the cards – and with just one straight, unpolluted and wise political leader, they could’ve told Merkel and her German tabloid allies where to stick their altered history. It looks to me like Tsipras may still be that bloke…despite his top-out in the opinion polls.
So once more here at Slogger’s Roost, I can describe the crimes, but not the motive in any really useful sense. Given the current context, why would you launch the most insane collateral form in history since tulips? Why – given that we are near the edge here – would you screw millions to give profits to hundreds? And why – given it’s clearly a potential profit centre for the eurozone finances – would you continue punishing Greece for taking free money when it was offered to them by Gold Insacks and the ECB under Jean-Fraud Cliché?
There will of course be hundreds of contributory sub-agendas, backhanders, geopolitics, fat slobs and call girls to be taken into consideration re this one. But the underlying answer lies thinly veiled within the species-and-culture room, possibly numbered 101. Sorry if my insistence on this is getting tedious, but for newcomers it can act as a compass as to the site’s raison d’être.
Footnote: since I changed the emphasis of The Slog back towards analysis and comment – and away from news ‘exclusives’ – daily site hits have fallen by 18%. This doesn’t bother me, as in an attention-span-of-a-gnat culture, quality is likely to be vastly more important in the long term than quantity. In the immediate term (ie, the last week) there’s been a dip of a further 3%. I’m fairly certain this is a direct consequence of Holohoax spats – and The Slog more actively berating the Left for its not very splendidly isolationist attitude towards creating a common Front against Evil. I’ve no intention of changing my attitude towards mad Holocaust deniers or insular Guardianistas and 101 feminists, because I believe empiricism will always triumph over archaic agendas. I’m sure this will come as a great relief to loyal, genuine Sloggers.
Never forget the old adage: “Eat sh*t, seventy zillion flies can’t be wrong”. But major respect to Tom Watson in the midst of all this tribal onanism.