Monday, May 23, 2011


PIIGS © fintag

News comments:
What with Greece defaulting, Young Spaniards sleeping on the streets and Italy denying it has any problems, the Credit Rating Agencies are slowly but surely destroying them. Ireland has somehow been beaten to death but is in a coma. These other countries will soon be following the same fate.

This news drags on and on, as does the QE in the USA.

The knock effects of printing money has been a commodity bubble and oil being at stupid prices given the supply is absolutely fine.

Will the new IMF leader please decouple the US dollar from the price of commodities? The US are screwing it up for the rest of the world.

Today's shorts:
Bernanke to keep staring into the light (bloomberg)

Today's longs:
Italy prepares to nuke Germany (reuters)

IMF staff to be forced to become celibate.