On The
Ground in Paris… It Ain’t Euro Positive
May 6, 2012 By gpc1981
http://albertpeia.com/euronegative.htm
‘With
so much hanging in the balance, I went to
Everything
was relatively quiet until the late afternoon. But once the elections were
announced, they became jammed. Literally. By the look
of things, French youth are celebrating Hollande’s
victory by picking up all of their friends and then driving up and down the
streets honking their horns incessantly. Most cars were packed to the brim with
passengers hanging out of every window and even the sunroof waving French
flags, singing, or simply yelling pro-Hollande
slogans.
Indeed,
at times traffic intersections become gridlocked as some cars simply parked in
the middle of the street so their passengers could get on top of the vehicle
and hang out (a few of them even lit cigarettes like they were sitting on a
terrace instead of the roof of a fiat).
The
Euro has taken the news much more poorly, gapping down sharply in the overnight
session to below critical support at 1.30.
Stocks…
are collapsing. The S&P 500 futures have gapped down from 1,360 to 1,346 as
I write this Sunday night.
This
shouldn’t be a surprise to anyone. Virtually every poll showed Hollande winning the election. And how exactly is the
election of a socialist who proposed the following Euro-positive…
- Proposed raising tax rates on
high-income earners from 41% to 75%.
- Wants to lower the retirement age
to 60.
- Completely goes against the recent
new EU fiscal requirements Merkel just convinced 17 EU members to agree to
and has promised to try and renegotiate them to be looser.
Oh,
and
Remember,
politics, not economics, rule
For
this reason, EU political leaders will maintain their agendas regardless of
whether said agendas go against financial or economic realities (or common
sense for that matter) until these agendas begin to have real negative
consequences for their political careers.
Well,
we’re now at the point at which there are MASSIVE political consequences for
the pro-bailout/ austerity measures political agenda. Which means… it’s only a
matter of time before the EU in its current form collapses.
With
that in mind, I’m already positioning subscribers of Private Wealth Advisory for
the upcoming EU collapse. Already we’ve seen gains of 6%, 9%, 10%, even 12% in less
than two weeks by placing well-targeted shorts on a number of European
financials.
And
we’re just getting started. Indeed, we just opened five new trades a few weeks
ago Friday. Already we’ve closed out three of them for gains of 6%, 6%, and 9%.
So if
you’re looking for the means of profiting from what’s coming, I highly suggest
you consider a subscription to Private Wealth Advisory. We’ve
locked in 49 straight winning trades since late July (thanks to the timing of
our trades), and haven’t closed a single losing trade since that time.
Because
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Business, CNN Money, Crain’s
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Summers,Chief Market Strategist,