and it fails.
from automaticearth.blogspot.com:
Ilargi: Maybe they're thinking Greek debt will recover? Not very likely to happen, the yield on Greek 2-year bonds broke over 32% this week. Keep that up for a bit, and Greece is going going gone.
The reality is, we're just watching a bunch of Punch and Judy shows here, stress tests, downgrades, the US debt ceiling "controversy". Obama has now put his job on the line to get a deal done; he must be pretty sure he’ll get one in the end; a job and a deal.
Still, whether it comes to either that potential US downgrade Moody‘s and S&P are threatening, or to the debt ceiling charade, or the stress tests, all of the above are based on entirely the wrong numbers, and I wouldn't be one bit surprised if that is fully intentional: all are meant to hide what's really happening, and where the real hurt lies.
