Jüst án Întrinsically Bad Day

[Virgil Showlion]

Suppose we forget for a moment that gold has pushed past the $1,600.00/oz. panic level and that the S&P is again flirting with negative YTD territory. Let us also forget that BAC dividends were a thing of the past, the US credit rating was dropped to AA+ by yet another independent credit rating firm over the weekend, and a whole new "pack" of spotted atrocities were discovered in Afghanistan.

Forgetting all this, today we are faced with the news that:

• As predicted, US policymakers haven't come to any kind of agreement on deficit reduction. Now the POTUS has threatened to veto any "cut, cap, and balance" plan for balancing the budget and raising the debt ceiling.
  
  
• The US "misery index" just hit a fresh 28-year high.
  
  
• Greek 2-year notes are now paying out 35.19% in interest, while trading of shares in Italian banks has been suspended (again) in the vain hopes of halting their plummet into the abyss.
  
  
• The ECB has now come out and stated that they would reject Greek bonds as collateral in the "event of" a Greek default, at which point the Greeks will probably have to sell themselves into slavery to get the operating cash they need.
  
  
• Italian 10-Year Bonds Extend Drop; Yield Climbs to 6 Percent; Spain 10-Year Bond Yield Surges to Euro-Era Record 6.31 Percent (and more on "Bloody Monday" from ZH and Denninger)

Ladies and gentlemen, it is just an intrinsically bad day today.

Not because things aren't getting better (such has been the case since late 2008) but because we've lost yet another quantum of our precious ability to deny it.

[decoy409]

"Not because things aren't getting better (such has been the case since late 2008) but because we've lost yet another quantum of our precious ability to deny it."

[Small Biz Owner]

Greek 2-year notes are now paying out 35.19% in interest

Time for the fearless



or the foolish to buy them.

[Small Biz Owner]

Time to call my foreign bond broker. Just feeling a little lucky today.

[Virgil Showlion]

Honestly, take your chances with the roulette wheel. The Greek government is tripping over themselves trying to figure out how they can default without calling it a "default".

It boggles the mind. They head to Trichet and ask that their (defaulted) bonds be used as collateral for cash injections from the ECB, which they need because their bonds are defaulted.

Red 14 for me.

[decoy409]

My money is on 'BLACK'

[mtntigger]

Well aren't you just a ray of sunshine? Let's not forget the important things in life... today is "Global Hug Your Kids Day."

[Driftr]

Jul 18, 2011 15:12:03 GMT -5 @mtntigger said:

Well aren't you just a ray of sunshine? Let's not forget the important things in life... today is "Global Hug Your Kids Day."

I think it just goes to show what a crappy world we live in if some bonehead actually thought we needed a day for that.

[mtntigger]

Well, apparently we do need a day for that... especially when someone calls a 24-hour period intrinsically bad.

[Virgil Showlion]

I suppose it could be worse. We haven't made it to "Oh Please Won't You Hug Your Kids Day" yet. Or "Global Feed Your Parents Day", at the rate the SS endowments are drying up.

[decoy409]

Virgil, that is too

[smackdown]

Perhaps TODAY could be... "Get Your Head Out Of The Sand Day" or "Stop Drinking That Kool-Aid Day". Why do I need a holiday as a reason to hug my kids? Perhaps it was created by some adult who prefers to see pink unicorns and rainbows instead of Reality. That's a personal problem, not a holiday theme.

[domeasingold]

In your case it's "get your head out of your ass".

[mtntigger]

Jul 20, 2011 8:24:46 GMT -5 @smackdown said:

Perhaps TODAY could be... "Get Your Head Out Of The Sand Day" or "Stop Drinking That Kool-Aid Day". Why do I need a holiday as a reason to hug my kids? Perhaps it was created by some adult who prefers to see pink unicorns and rainbows instead of Reality. That's a personal problem, not a holiday theme.

We don't need one, just like we don't need a day out of every year to celebrate men being fathers or women being mothers or couples loving one another or soldiers doing their duty or ...
I was trying to point out that there is more to life than just the inability for the elected government to get along (the intrinsically bad day part). But if you want to view "reality" as the government instead of your family, feel free.

[Virgil Showlion]

Let's be comrades, ladies and gentlemen. We don't want to find ourselves in the first ever fist fight over the legitimacy of "Hug Your Kids Day".

[decoy409]

Your a natural Virgil for laughs (#14)