Epstein Secrets

ast time the term Maestro got thrown around, it was a case of premature exaltation. The latest from Europe: my head is hot and my feet are freezing Angela Merkel described Europe as being ‘“‘a good way up the mountain path” regarding the debt crisis. Courtesy of the ECB, there has been a dramatic improvement i

: my head is hot and my feet are freezing Angela Merkel described Europe as being ‘“‘a good way up the mo

™ undexd -05 875 90 -0.6 775 -0.7 675 -3% 2008 2009 2010 2011 2012 2005 2006 2007 2008 2009 2010 2011 Source: Citigroup, Bloomberg. Source: Eurostat, Bundesbank. After four years that challenge some of the basic assumptions of efficient markets and laissez-faire capitalism, there is a pent-up demand for norm

ast time the term Maestro got thrown around, it was a case of premature exaltation. The latest from Europe: my head is hot and my feet are freezing Angela Merkel described Europe as being "a good way up the mountain path" regarding the debt crisis. Courtesy of the ECB, there has been a dramatic improvement in

: my head is hot and my feet are freezing Angela Merkel described Europe as being "a good way up the moun

Unfortunately, the ECB can't create jobs Employment percent change, O0O, saar 3% .3% 2005 2006 2007 2008 2009 2010 2011 Source: EurostaL Bundesbank. After four years that challenge some of the basic assumptions of efficient markets and laissez-faire capitalism, there is a pent-up demand for nor

bjections of a lone dissenter: Bundesbank President Jens Weidmann. And the undertaker was not ECB President Mario Draghi; it was German Chancellor Angela Merkel. The Bundesbank did not fall victim to a sinister southern European conspiracy; rather, it rendered itself irrelevant. Had it gotten its way, the

nt Mario Draghi; it was German Chancellor Angela Merkel. The Bundesbank did not fall victim to a siniste

ing by the European Central Bank; refusal to support mutual liability for debt; and, finally, the transformation of the ECB from a copy of the old Bundesbank into a European Federal Reserve Bank based on the Anglo-Saxon model. What remains is the rejection of Eurobonds, but that, too, will ultimately di

objections of a lone dissenter: Bundesbank President Jens Weidmann. And the undertaker was not ECB President Mario Draghi; it was German Chancellor Angela Merkel. The Bundesbank did not fall victim to a sinister southern European conspiracy; rather, it rendered itself irrelevant. Had it gotten its way, the

nt Mario Draghi; it was German Chancellor Angela Merkel. The Bundesbank did not fall victim to a siniste

opean Central Bank; refusal to support EFTA00711886 mutual liability for debt; and, finally, the transformation of the ECB from a copy of the old Bundesbank into a European Federal Reserve Bank based on the Anglo-Saxon model. What remains is the rejection of Eurobonds, but that, too, will ultimately di

ide back into Soviet rule, or anarchy (that view turned out to be wrong). Anyone market-weight European risk out of the expectation that “Trichet and Merkel will fix surely it” is taking a binary risk that impossible to handicap. Similarly, we should not start buying anything just because we think Qe3 is

re eventually shut down after the ECB (for now) rejected being the buyer of last resort for Italian government bonds, as the markets were hoping. The Bundesbank apparently has objections to the idea. This is a problem: Italy has issued around as much public debt as Germany, but is a considerably smaller count

ide back into Soviet rule, or anarchy (that view turned out to be wrong). Anyone market-weight European risk out of the expectation that “Trichet and Merkel will fix surely it” is taking a binary risk that impossible to handicap. Similarly, we should not start buying anything just because we think Qe3 is

re eventually shut down after the ECB (for now) rejected being the buyer of last resort for Italian government bonds, as the markets were hoping. The Bundesbank apparently has objections to the idea. This is a problem: Italy has issued around as much public debt as Germany, but is a considerably smaller count

ide back into Soviet rule, or anarchy (that view turned out to be wrong). Anyone market-weight European risk out of the expectation that "Trichet and Merkel will fix surely it" is taking a binary risk that impossible to handicap. Similarly, we should not start buying anything just because we think Qe3 is

re eventually shut down after the ECB (for now) rejected being the buyer of last resort for Italian government bonds, as the markets were hoping. The Bundesbank apparently has objections to the idea. This is a problem: Italy has issued around as much public debt as Germany, but is a considerably smaller count

ECeG> The Greek crisis will fast expose Mr Hollande FT Comment<http://www.ft.com/cms/s/0/77e65d0e-9608-11e1-9d9d-00144feab49a.htmlffaxzzluFoJECeG> Merkel urges Athens to stick with reform FT<http://www.ft.com/cms/s/0/fb8abe22- 9845-11e1-8617-00144feabdc0.html#axzzluFoJECeG> Eurozone crisis: democracy

May 17, a technocrat government will be appointed to lead the country to fresh elections as early as June 17 (high probability of this). Meanwhile, Bundesbank president Jens Weidmann writes a piece in the FT<http://www.ft.com/cms/s/0/bc917f20-9607-11e1-9d9d- 00144feab49a.html#axzzluFwoqqQT> in which he arg