This coming and going, is driving me nuts...
I hear ya and of course the markets are confusing,
but you're not the only one with mixed emotions,
you're not the only ship adrift on this ocean...
... and there is always some good news, even about Italy and all that.
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4 comments:
I guess I had forgotten that Mick Jagger had to be middle-aged at some point before he got old.
From the Karabell article you cite Italy needs perhaps $650 billion to allow it to avoid tapping public markets for the next three years. That is a decent sum, but more than within the ability of Italy, in conjunction with the eurozone, to obtain—and that is a worst cae. It is not a “game-ending” sum of money. It is not on par with the trillions of dollars of derivatives that companies such as AIG and Lehman had put into motion in 2008. It is a big number, but it is not that big a number, and when you look at actual Italian borrowing costs right now—that extra $15 billion cited above—the number becomes much smaller indeed.
But, as in the case of AIG/Lehman, does anybody even know how much the CDS side bets amount to?
>> does anybody even know how much the CDS side bets amount to
probably not, but as we have learned the CDS may never trigger ...
>> middle-aged at some point before he got old.
what i find frightening is how quickly one moves from middle-aged to old
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