IT'S STILL GOOD! IT'S STILL GOOD! IT'S JUST A LITTLE DOWNGRADE!

• It's just a little dirty.
• It's still good, it's still good!


• It's just a little slimy.
• It's still good, it's still good!


• It's just a little airborne
• It's still good, it's still good!

Homer Simpson

Hi,

My fans have been asking me, "Manny, what's this PIGS they always talking about in the news?"

Well readers, PIGS is what we call an acronym. Each letter in the word represents a different European country

• Portugual
• Italy
• Greece
• Spain.

Nowadays, they add Ireland (FOR PIIGS); and sometimes Great Britain (FOR PIIGGS).

I think this acronym was started around 1997 (long, long before I was born) by British bankers (and I think it was Goldman Sachs, my world domination heroes). It was suppose to refer to countries whose debt was 100% of GDP (Gross Domestic Product) or going to be.
(Click the graph to see how bad it really is.)

Now, I wrote about Greece before (see here, here, and here). By the way, I translated the first post for you, since I wrote it before I learned English.

Last week, many bad things happened for Spain (the S in PIGS). This company named Fitch lowered their rating of Spain from AAA to AA+. This is not a big deal, but still means there is very, very small chance Spain will default on their payments. It's not good.

Spain is a bigger problem than Greece, just because Spain is a bigger country than Greece. Too big to fail, but also to big to bail out. The Spanish government tried to pass austerity measures to cut spending by EUR15.0M (USD$18.0M) and it barely passed. The vote was 169-168-13. This is also not good.

To make things worse, it looks like the Spanish public doesn't want their government to cut spending. If they had an election right now, the opposition party would win most of the votes. I think that the Spanish Prime Minister has to call an election soon, since the vote was so close. It's too bad he doesn't have a smoking hot wife. to help him get votes. Instead, his daughters are kind of scary.

More on Italy next.

Thanks,
Manny

O HAI,

MAI FANZ HAZ BEEN ASKING ME, "MANNIE WHUTZ THIS PIGS THEY ALWAYZ TALKING ABOUT IN TEH NEWZ?"

WELL REEDERZ, PIGS IZ WHUT WE CALL AN ACRONYM. EACH LETTER IN TEH WURD REPRESENTZ A DIFFERENT YOURUPEEAN COUNTREE

• PORTUGAL
• ITALY
• GREECE
• SPAIN.

NAOADAZE, THEY ADDZ IRELAND (FOR PIIGS); AND SUMTIMEZ GREAT BRITAIN (FOR PIIGGS).

I THINKZ THIS ACRONYM WUZ STARTED AROUND 1997 (LONG, LONG BEFOAR I WUZ BORN) BY BRITISH BANKERZ (AND I THINKZ IT WUZ GOLDMAN SACKZ, MAI WURLD DOMINATION HEROZ). IT WUZ SUPPOZ TO REFER TO COUNTREEZ WHOZ DEBT WUZ 100% OV GDP (GROSS DOMESTIC PRODUCT) OR GOANING TO BE.
(CLICKZ TEH GRAPH TO SEE HOW BADZ IT REELY IZ)

NAO, I ROTEZ ABOUT GREECE BEFOAR (SEE HERE, HERE, AND HERE). BAI TEH WAI, I TRANZLATED TEH FIRST POST FOAR YOU, SINCE I ROTE BEFOAR I LERNT ENGLISH.

LAST WEEK, MANY BAD THINGZ HAPPENZ FOAR SPAIN (TEH S IN PIGS). THIS COMPANEE NAYMED FITCH LOWERD THIER RATING OV SPAIN FRUM AAA to AA+. THIS IZ NOT HOOJ DEAL, BUT STILL MEANZ THERE IZ VERY, VERY SMALL CHANCE SPAIN WILL DEFAULT ON THIER PAYMENTZ. IZ NOT GUD.

SPAIN IZ BIGGER PROBLEM THAN GREECE, JUST BECAUZ SPAIN IZ BIGGER COUNTREE THAN GREECE. IZ TOO HOOJ TO FAIL, BUT IZ ALSO TOO HOOJ TO BAIL OUT. TEH SPANISH GUBBERMENT TRIEZ TO PASS AUSTERITY MEASURZ TO CUT SPENDING BAI EUR15.0M (USD$18.0M) AND IT BARELY PASSED. THE VOTE WUZ 169-168-13. THIS IZ ALSO NOT GUD.

TO MAKEZ THINGZ WURZ, IT LOOKZ LIEK TEH SPANISH PUBLIC DUZNT WANT THIER GUBBERMENT TO CUT SPENDING. IF THEY HAZ TEH ELECSHUN RITE NAO, TEH OPPOSISHUN PARTEE WUD WIN MOST OV TEH VOTEZ. I THINKZ THAT TEH SPANISH PRIME MINISTER HAZ TO CALL ELECSHUN SOON SINCE TEH VOTE WUZ SO CLOSE. IZ TOO BAD THAT HE DUZNT HAZ SMOKING HOT WIFE TO HELP HIM GETZ VOTEZ. INSTEAD, HIZ DAUGHTERZ IZ KIND OV SCAREE.

MOAR ON ITALY NEXT.

K THX BAI,
MANNIE

TEH EURO, PAUL VOLKER, TEH FRENCH PRIME MINISTER AND HIS SMOKING HOT WIFE

Hi,

The picture above is called "The Rape of Europa". It was painted by a human named "Titian". His real name was "Tiziano Vecelli". He was borned a long time ago. Even before my daddy and mommy were born.

I think this is funny. The Rape of Europa is an old Greek myth. And now, Greece is raping the rest of Europe and causing the collapse of the Euro. Is this what they call irony?

Here is where the European markets closed today

It's not looking good.

A very tall and smart human, Paul Volker, said yesterday that "You has the great problem of a potential disintegration of the Euro". You can read all about it here: http://bit.ly/cXl6IS

And the French Prime Minister, with the smoking hot wife, was going to quit the European Union. The British talked about it here: http://bit.ly/bF3eMB. He only did this because French banks have the highest exposure to Greece, so they would lose the most money, then the French government would have to bail them out. This is what is called "Moral Hazard"

Personally, I think that if you marry a woman who use to date Mick Jagger of the Rolling Stones, that is some kind of hazard.

Thanks,
Manny

O HAI,

TEH PIKTUR ABOV IZ CALLED "TEH RAPE OV EUROPA". WUZ PAINTED BAI A HOOMIN NAYMED "TITIAN". HIZ REEL NAYM WUZ "TIZIANO VECELLI". HE WUZ BORN LONG TIME AGO. EVEN BEFORE MAI DADDIE AND MOMMIE WUZ BORN.

I THINKZ IZ FUNNY. TEH RAPE OV EUROPA IZ OLD GREEK MYTH. AND NAO, GREECE IZ RAPING TEH REST OV EUROPE AND CAUZING TEH COLLAPSE OF TEH EURO. IZ THAT WHUT THEY CALL IRONEE?

HERE IZ WHERE TEH EUROPEEN MARKETZ CLOSED TODAI.

IZ NOT LOOKING GUD.

VERY TALL AND SMART HOOMIN, PAUL VOLKER, SED YESTERDAI THAT "YOO HAZ TEH HOOJ PROBLEM OV A POTENTAL DISINTERGRASHUN OV TEH EURO". YOO CAN REED ALL ABOUT ITZ HERE: http://bit.ly/cXl6IS

AND TEH FRENCH PRIME MINISTER, WIF TEH SMOKING HOT WIFE, WUZ GOING TO QUIT TEH EUROPEEN UNION. TEH BRITISH TALKZ ABOUT IT HERE: http://bit.ly/bF3eMB. HE ONLY DUZ THIS BEECAUZ FRENCH BANKZ HAZ HIGHEST EXPOSUR TO GREECE, SO THEY WUD LOOZ MOST MUNNY, THEN THE FRENCH GUBBERMENT WUD HAZ TO BAIL THEM OUT. THIS IZ WHUT IZ CALLED "MORAL HAZZARD"

PERSONALLY, I THINKZ THAT IF YOU MARRY WOMAN WHO USE TO DATE MICK JAGGER OV ROLLING STONEZ, THAT IZ SOME KIND OV HAZZARD.

K THX BAI,
MANNIE

I CAN HAZ KIDNAPPING?

Hi,

I read this story today about a kidnapper who only wants "German Flagged Euros". The details are here: http://bit.ly/az0QLe

Even the stupid human kidnapper thinks that the euro is going to collapse, and the Germany will be the only country with a good economy.

But the stupid human kidnapper doesn't realize that it doesn't matter which flag is on the money, it's all going to be worthless.

Thanks,
Manny

O HAI,

I RED THIS STOREE TODAI ABOUT A KIDNAPPER WHO ONLEE WANTZ "GERMAN FLAGED EUROZ". TEH DETALEZ ARE HERE: http://bit.ly/az0QLe

EVEN TEH STOOPID HOOMIN KIDNAPPER THINKZ THAT EURO IZ GOING TO COLLAPZ, AND THAT GERMANY WILL BE TEH ONLEE COUNTREE WIF A GOOD ECONOMY.

BUT TEH STOOPID HOOMIN KIDNAPPER DUZNT REALIZE THAT IT DUZNT MATTER WHICH FLAG IZ ON THE MUNNY, IZ ALL GOING TO BE WURTHLESS.

K THX BAI,
MANNIE

ANYTHING DOGS CAN DO, CATS CAN DO BETTER. YES THEY CAN.

Hi,

I got some fan mail the other day!

Hey Manny. How the hell do you type with paws? I had to get Gracie to
do it for me. She's a Border Collie, and they can do anything.

Well, fan, it's very simple. Cats rule and dogs drool. Anything a dog can do, a cat can do better. Yes we can. That's why dogs need training and cat just know what to do. The smartest dog is still dumber than the dumbest cat.

To answer your question, it's very difficult to type with paws. But I do it because there are very important things I need to share with people. And so I make money. I need money for three things:

• Litter
• Thumbs
• World Domination

So here is a timely news item: China is keeping the Euro from collapsing.

This chart shows that Europe is a big export market for China

Cheap Renminbi means exports to Europe are cheaper and reduces China's dependence on the US market. Niall Ferguson is working on a paper called "The End Of Chimerica" that outlines this. China already gives lots of foreign aid to Africa. It's clearly a plan for world domination. I'll have to keep an eye on a possible China/Goldman Sachs alliance. That could be very dangerous.

Thanks,
Manny

O HAI,

IZ GOTZ FAN MALE. IT SEZ:

Hey Manny. How the hell do you type with paws? I had to get Gracie to
do it for me. She's a Border Collie, and they can do anything.

WELL, FAN. IZ SIMPLE. KATZ RULE AND GOGGIEZ DRUL. ANYTHING GOGGIE CAN DO, KATZ CAN DO BETTER. YES KATZ CAN. THATZ WHY GOGGIEZ NEEDZ TRAINING AND KATZ JUST KNOW. SMARTEST GOGGIE IZ STILL DUMMER THAN DUMMEST KAT.

TO ANSER YOUR FIRST QUESSHUN, IZ VERY DIFFICULT TO TYPE WIF PAWZ. BUT I DUZ IT BECAUSE THERE IZ VERY IMPORTANT THINGZ I NEEDZ TO SHARE WIF PEEPLE. AND SO I CAN MAKEZ MUNNY. I NEEDZ MUNNY FOR THREE THINGZ:

• LITTER
• THUMBZ
• WURLD DOMINASHUN

SO HERE IZ SUM TIMELY NEWZ ITEMZ: CHINA IZ KEEPING EURO FROM COLLAPSING.

THIS CHART SHOWZ THAT EUROPE IZ HOOJ EXPORT MARKET FOR CHINA

CHEEP RENMINBI MEANZ EXPORTZ TO EUROPE ARE CHEEP AND REDUCEZ CHINAZ DEPENDENCE ON US MARKET. NIALL FERGUSON IZ WORKING ON PAPER CALLD "TEH END OV CHIMERICA" THAT OUTLINEZ THIS. CHINA ALREADY GIVEZ LOTZ OV FOREIN AID TO AFRICA. IZ CLEERLY PLAN FOR WURLD DOMINASHUN. I HAZ TO KEEP EYE ON POSSIBLE CHINA/GOLDMAN SACKZ ALLIANCE. CUD BE VERY DANGEROUS.

K THX BAI,
MANNIE