Europe rejects austerity, the left is ascendant once more.

http://www.bbc.co.uk/news/world-europe-17975660

Socialist Francois Hollande 'wins French presidency'

http://www.guardian.co.uk/world/2012/may/06/greek-elections-exit-polls-parties?newsfeed=true

A new day for Europe.

It is fitting that in the birthplace of democracy, there has been a revival of the popular will. Today is the day where there is a dawning realization that austerity does not work, a lesson that should have been learned in the 1930s. A schism to how to reply to the debt crisis has begun, with a pro-growth, dovish faction growing in strength with each passing election. The people of Europe will no longer stand for the bondholders that have driven their countries to madness.

 

You want the people who run BNP Paribas and SocGen too?

lolololololol. They'll be wealth creators until their badly leveraged banks fail. Good luck with all the golden capital-controlling geese, especially when they're in a speculative mood.

 

http://www.dailymail.co.uk/news/art...commits-suicide-outside-Greek-parliament.html

'This is a dignified end before I have to start scrounging food from the trash': Desperate man, 77, shoots himself dead outside Greek parliament during rush hour

 

The Euro was dead long before this happened. Some would even say it was dead as soon as it was created. Europe has never been an optimal currency area, and we're seeing why now.

 

Total and complete rejection of austerity today.

The markets will have their corpse. things will be much worse before they become better. But austerity was like blood-letting anyways---the wrong cure that slowly killed the continent. If that changes, there is hope.

DJIA futures down to below 13000.

 

True say.

However, I'm tracking a set of off-exchange OTC derivatives on the DJIA, and let's just say, even though it's a much smaller market, things are not looking good.

 

Don't fault me if your MBA education didn't equip you with the means to understand simple economic statements.

 

Anyways, I can tell that you're raring for another gif-posting tantrum session, so I've put you on temporary ignore list ATW.

Have a great day!

http://www.bloomberg.com/news/2012-...-result-since-1950-in-schleswig-holstein.html

 

I think they're angling for Greece to default and get it over with.

I mean, the country is irredeemable from a debt dynamics perspective, so I have some sympathy for this notion.