ubmitted by Tyler Durden on 08/07/2012 09:29 -0400
Art Cashin
Eurozone
President Obama
Sovereigns
White House
"Who knew that the 24th electoral district in Chicago actually sits in Northwest Madrid?" That is how Art Cashin concludes his tangent into the president's pre-election tactics, which now apparently involve begging heads of sovereigns to accept bailouts from other sovereigns (coughgermanycough) just to boost one's reelection chances. Why? Because the one thing that could send the S&P ripping higher, however briefly, is what we have been discussing for the past week: namely the market finally getting the paradoxical catalyst that the market has already priced in - Spain admitting it is broke. And why would Obama be focused on a rising S&P, fiscal cliff after the election notwithstanding? The chart below should explain it.
Anyway, here's Art via UBS:
Good Afternoon Sir! I'm Calling About The Election – More than a few eyebrows were raised by a single headline that flashed by sometime around mid-day. The headline read something like:
"President speaks by phone with Spain's Rajoy"
Traders saw that as a president very concerned that Europe holds the key to his re-election. Here, courtesy of
http://www.zerohedge.com/news/art-cashin-obamas-reelection-tactic-pleading-spanish-bailout?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
It was a plea/demand that Rajoy formally request a bailout lest the rescue effort stumble and a new financial crisis erupts and ends President Obama's chances
couple comments,,,,,,,,,,,,,,,,,,,,,,,
Meesohaawnee
Meesohaawnee's picture
obama to spain. "uh i can only order ben to prop this fraud much longer. people are catching on"
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Tue, 08/07/2012 - 09:33 | 2684307 malikai
malikai's picture
Makes perfect sense. No controversial QE and it will send the markets soaring so people will be rich again.
Let reality come after the election.
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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