Obama and the Private Sector

Lets Get Real:

The Romney Campaign is going hard on President Obama's remarks that the private sector is doing fine. These remarks could define the Obama Presidency, thus own goal by the Oval. The Oval needs to get the President in to Campaign mode, also to keep to the message, its almost politics 101. The bad jobs report, combined with these remarks will drive the Chicago Re- Elect up the wall. This group is ruthless folks, the Romney Campaign has to hit hard and often, it almost has to be 24 hours. The Last Campaign standing wins folks. It is still a long road, Romney has had a few good days, lets hope the Campaign has many good days.

EU Control of Spain ?

Telegraph Live - Spain: Reports that Spain faces supervision from the EU when it comes to the hundred billion euros bailout of its Banks.

Lets Get Real:

This will go down like a lead balloon in Spain, the Spanish Government has tried to walk a fine line, that it has requested a bailout but that it is not in the same club as the rest of the PIG's. Thus the 1st impression that the loans was without strings. Folks would you give someone who is bankrupt and has asked for a loan a no strings loan. The worry from the side of EU elite is that the Greeks seeing that Spain has gotten soft terms will think if they vote for the anti austerity Parties that the EU will change the austerity deal and just give Greece more euros. The French and the Germans did not have a choice with Spain, its to big to fail, that is not the case with Greece. The Markets seem to think that the deal is not enough, the Markets wants Euro Bonds to be underwritten by Germany, the Germans do not want to fund the PIIGS till the end of time. This crisis is not over folks.

What does a 100 Billion Euros GET YOU ?

BBC News: Reports that despite the EU giving Spanish Banks a bailout of 100 billion Euros the cost of 10 year Spanish bonds has risen today, the bond markets charged 6.5% today.

Lets Get Real:

It looked good for a while folks, last night the Asian Markets were up, early today the EU Markets had a upswing, but the good mood didn't last, at the end of the day the markets returned to a negative rating. As the article notes the next worry is Italy, the cost of 10 year Italian bonds rose today to 6.032%. While Spain needing a bailout could be coped with, Italy is a different matter, it is to big to fail, the new Italian Government is making the right noises with reform and that it does not need a bailout, slight problem that is what all the bailed out Countries stated before a bailout. The NEXT big cliff folks is the 2nd Greek General Election, it can be expected that the left will argue that since Spain didn't have to agree to any austerity deals to get a bailout then Greece will be released from its tough austerity deal. The Germans had no choice with Spain, just to big to lose, while Greece is a different matter, even President Hollande of France has stated that Greece has to keep to its agreed deal, thus next Saturday is Greece Day folks, either Greece is in our out of the Euro, its destiny day for Greece and the Euro.