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Biggest Protest In Athens Under Way As Tens Of Thousands Ask "Where Did Our Money Go", Demand No More Austerity (Now With WiFi Access)

Tyler Durden's picture




 

After 12 consecutive days of protests, the biggest gathering in Athens' parliamentary Syntagma square is currently underway. The FT reports: "Thousands of Greeks protested outside parliament on Sunday against a fresh austerity package agreed in return for the country’s second bail-out in 13 months by the European Union and International Monetary Fund. “Thieves, thieves….Where did our money go?” the protestors shouted, blowing whistles and waving Greek flags as riot police thickened ranks around the parliament building on Syntagma square in the centre of the capital...Frustration over the socialist government’s half-hearted reform effort has united diverse activists –from unemployed graduates to environmentalists and pensioners – under the umbrella of the new movement. George Papaconstantinou, finance minister, is due to unveil on Monday a €6.4bn emergency package of tax increases and cuts in allowances aimed at putting this year’s budget back on track....“What went wrong? We need answers right now,” said Rovertos, a volunteer computer technician helping provide wi-fi services at the protest camp. “The government promised there wouldn’t be any more tough measures but they’re about to announce new taxes and thousands of job cuts,” said Stefanos, a retired civil servant sitting outside a tent." What went wrong is that Greece is in the process of being colonized by the global banker certal. But with summer season in swing, and most Greeks hitting the beach, we doubt many will notice until it is too late. As for those who may have noticed, below is a webstream of the biggest protest before the Greek parliament in 2011. It is sure to provide some entertainment for when the EUR opens up in 3 hours, if not much else.

 

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Sun, 06/05/2011 - 16:34 | 1341795 Orly
Orly's picture

I guess it is a good thing your Daddy left you all that money and edumaction right, Azannoth?

Otherwise, I am certain that you would have fallen into one of those categories.  Don't you know it is so?

But, there's still time for you to taste it- and when he comes to your door, the goose may be hungrier than ever.

I wish you the best of luck with your morbid view of humanity.  May the universe spare you pain nonetheless.

Mon, 06/06/2011 - 03:57 | 1342667 Azannoth
Azannoth's picture

Idiots, I left home at 19 with 100 bucks in my pocket, and I am as good as self educated, nothing from what I 'learned' at school applyies to what I do or how I think, I am a virtual orphan and a 'self choosen' outcast from society

Sun, 06/05/2011 - 15:13 | 1341623 High Plains Drifter
High Plains Drifter's picture

it takes two to tango..........

Sun, 06/05/2011 - 15:56 | 1341714 Rynak
Rynak's picture

Pssst..... don't tell anyone :) All their favorite dichotomies will stop working :)

Sun, 06/05/2011 - 16:19 | 1341751 Loose Caboose
Loose Caboose's picture

Azannoth said:

I don't differentiate between poor and stupid those 2 human conditions are invariably interchangeable

I don't know.  There are a lot of stupid people who seem to make it to the top of the economic grid through greed alone - not so much the smart stuff.  And lots of stupid people in congress and at the Fed - they seem well compensated for their lack of common sense. 

And on the other side of that coin, I've met quite a few "poor" folk who are building a business and paying their dues, or have turned their back on the status quo and are happy to pay the financial price for going it alone.  They aren't stupid.  They are independent thinkers and non-materialistic in their view of the world and their place in it.  

I'm guessing that you just haven't met a broad section of humanity to be that narrow minded and short-sighted to have come to the conclusion that you have.

You just need to get out more.

Disobey.

 

 

Sun, 06/05/2011 - 16:14 | 1341756 Arnolds Love Child
Arnolds Love Child's picture

There are many poor people.

There are many stupid people.

Therefore, all poor people are stupid.

 

Congratulations,  your University of Chicago degree is in the mail.

Sun, 06/05/2011 - 19:56 | 1342080 mick_richfield
mick_richfield's picture

I agree that we shouldn't blame them for our addiction.

But I still think it would be nice to crucify a couple thousand of them along the Appian Way and leave them there till the crows finish with them, don't you?

Just sayin'.

Sun, 06/05/2011 - 15:19 | 1341639 Comrade de Chaos
Comrade de Chaos's picture

(to Aza) There is only one small contradiction in your statement. Name a none socialist country please, (remember the characteristics of capitalism: a) Unhindered* Competition b) Something about markets  c) Something about all entities facing equal rules of law and regulations; * - without anyone able to lobby a government to be on their side.)

Sun, 06/05/2011 - 15:37 | 1341659 Azannoth
Azannoth's picture

Singapore, Chile, ..  yes the list is very short

Sun, 06/05/2011 - 15:58 | 1341703 Comrade de Chaos
Comrade de Chaos's picture

Singapore & Chile, have you lived there for a meaningful period of time? Or is you logic, since everything is relative, a light 'red' color is not the dark 'red' color?

Human society has never experienced a true capitalism, at least in the form of definition that we think the capitalism is out to be. 

Maybe, none of us are as advanced as we tend to think we are. well, i'll shut up for day. 

It's just the whole story might be a bit more sinister than blaming socialists, bankers, governments, ourselves . Well, I out to cross ourselves, it ain't easy to look at the mirror, there are more fun things to do... ignoring the reality, living with delusions, accepting what is convenient rather what is ... somewhat true or unique. 

Sun, 06/05/2011 - 17:35 | 1341893 Rynak
Rynak's picture

What some people here call "capitalism" is something that is incomplete.... as in, there are things which it does not address yet on which it depends.

Egoists say those holes simply shouldn't be fixed. This has never been done. However, logic and current events suggest, that the consequences will be another oligarchy, which then is followed by revolution.

Altruists say those holes should be patched, by just throwing money at it. This is what nowadays is done. The result is another oligarchy which is then followed by.... well, just read the article again.

Neither of both camps is interested in fixing the issues in a selfsustainable way. Just like the popular left and rightwing parties, they will just forever blame each other, until the whole thing goes down.

Sun, 06/05/2011 - 19:37 | 1342049 topcallingtroll
topcallingtroll's picture

Sadly free market capitalism and pareto efficient markets are not perfectly practiced anywhere. It would be nice to give it a try for once. To have pareto efficient markets requires active regulation, but regulation with a single minded focus.

Sun, 06/05/2011 - 16:15 | 1341761 qussl3
qussl3's picture

Singapore? LOL

Stick the taxpayers with the bill on a 40B spec loss?

Raise the withdrawal age on what passes for a pension fund there?

Singapore has made an art of subsidizing private spec with the public purse.

Sun, 06/05/2011 - 14:40 | 1341541 terryfuckwit
terryfuckwit's picture

yeh bad lazy,lefty, suntanned.. no good Greeks had it coming...mmm

but this show is coming to a cinema near you very soon...

if i call the greeks and other piigs enough obscenities the elite will make me one of them and will never empty my bank account....

mmm sorted

 

Sun, 06/05/2011 - 20:30 | 1342141 serotonindumptruck
serotonindumptruck's picture

Why would anyone junk that comment without responding? What a bunch of fucking pussies at this meeting of Fight Club.

You junkers can take your blind nationalism and your broad generalizations and shove them up your fucking ass.

Now who wants to fight?

Sun, 06/05/2011 - 14:49 | 1341557 Sudden Debt
Sudden Debt's picture

So funny to see that people only riot when it's to late.

Didn't any of those greeks ever wonder that a corrupt state that offered them high paying jobs without actually working for a vote was going to bankrupt the state?

It's all good as long as the money comes in, and nobody cares about tomorrow. So why woud anybody else care?

They had so much time to prepare against what comming. They still do. I wonder how many will have prepared themselves.

Next up they will be angry against the people that did prepare and move all their money out.

It's to late to protest. The only thing they still have time to is to MOVE OUT. And start all over.

Sell whatever you got left and pick a county that still welcomes you before the hoard moves out and they close the borders.

 

 

Sun, 06/05/2011 - 14:49 | 1341568 djsmps
djsmps's picture

Funny how there are no riots in the US. Or maybe not so funny.

Sun, 06/05/2011 - 14:58 | 1341596 Sudden Debt
Sudden Debt's picture

He, not only in the US.

Here in Belgium, or Minister of Finance had a brilliant Idea to solve out debt problem:

"The Belgium Debt is now a Taboe. If we stop talking about it in the media, people will stop worrying. Therefore we will no longuer react on any questions from the market".

Brilliant no?!

 

Sun, 06/05/2011 - 15:19 | 1341638 A Man without Q...
A Man without Qualities's picture

Just seen this on Spain - it's picking up pace everywhere...

http://translate.google.com/translate?js=n&prev=_t&hl=en&ie=UTF-8&layout...

Sun, 06/05/2011 - 15:45 | 1341682 Sudden Debt
Sudden Debt's picture

Wow! Great find!

70.000 people and a 2 billion deficit for a single county. Just imagine how the rest of the counties are doing.

And with a 22,5% unemployment number in Spain, it sure adds up.

 

Sun, 06/05/2011 - 15:42 | 1341685 Herman Strandsc...
Herman Strandschnecke's picture

wow thsnks for that link 2000 million to pay the wage bill

Sun, 06/05/2011 - 15:03 | 1341605 High Plains Drifter
High Plains Drifter's picture

watch what happens when those social security and/or welfare or unemployment checks stop coming. 

i was listening to a business show from austin saturday evening and they had a guy on named andrew goss and he was taking calls and some guy called in and asked him something like ,........well since the government is taking the retirement money now, would it be a good idea to go and get a government job under these circumstances. he said no problem, that they had to pay the money back into the system. well i am not sure on that one...........

 

case in point is this. maybe when these government employees start realizing they are getting reamed, it might loosen their lips about what happened at the pentagon on 911 and in other areas as well, you know, since they don't have their government retirements to  look forward to anymore

Sun, 06/05/2011 - 15:13 | 1341622 Sudden Debt
Sudden Debt's picture

They'll do whatever they did to the other pension funds.

Pay the pensions with the money that comes in. No need to repay. Unless the workforce keeps dropping...

Sun, 06/05/2011 - 15:30 | 1341648 High Plains Drifter
High Plains Drifter's picture

goss was saying that if they have not gotten the budget squared away by august of this year, that the government will not be able to pay social securty benefits.

oh my........perish the thought........can you imagine that?  the hew and cry in the land from those who live by the will of their government daddy.

and people wonder why nobody will ever do anything around this country?  there you have it.

Sun, 06/05/2011 - 15:38 | 1341665 Sudden Debt
Sudden Debt's picture

They'll drain any reserve to pay out.

They'll even sell army property with a lease back.

Before you know it, you'll pay rent just to walk around in the United States of JP Morgan.

 

Sun, 06/05/2011 - 15:42 | 1341674 High Plains Drifter
High Plains Drifter's picture

paying rent to just walk around?   sounds like that idea of putting those things on your car to tax you the mileage.  how long will the american people keep backing up?  how long?

Sun, 06/05/2011 - 15:48 | 1341693 Sudden Debt
Sudden Debt's picture

Why not? the idea lives vivid here in Europe and in France and Italy it's already very common.

Roads are very lucrative. It costs 27 euro to drive to Paris from Belgium, just on tolls.

 

 

Sun, 06/05/2011 - 15:59 | 1341734 Herman Strandsc...
Herman Strandschnecke's picture

 

Dont Feed The Tolls

Sun, 06/05/2011 - 15:42 | 1341675 serotonindumptruck
serotonindumptruck's picture

I read something recently that suggested August 17th as the financial tipping point for the USA. 

Sun, 06/05/2011 - 15:49 | 1341696 Sudden Debt
Sudden Debt's picture

the tipping point was already there in 2000

Sun, 06/05/2011 - 15:48 | 1341678 Conrad Murray
Conrad Murray's picture

They can print, they can pay. The time to exit the US is now. Get out before the people of the ghettos and trailer parks get together with the government employees and all the fools who bought into imported German socialist programs as SHTF. It will not be pretty. The weather and women are better down south anyhow. And there's also the benefit of not having to worry quite as much about Fukushima letting loose.

Sun, 06/05/2011 - 15:48 | 1341704 Sudden Debt
Sudden Debt's picture

No they can't. The FED only serves their banks. Not the people, they are only there to pick up the tab.

 

Sun, 06/05/2011 - 16:21 | 1341764 Arnolds Love Child
Arnolds Love Child's picture

Exactly which free-market utopia "down south" did you have in mind?

Sun, 06/05/2011 - 16:41 | 1341805 Conrad Murray
Conrad Murray's picture

I'm not sure where I said there was a "free-market utopia". Perhaps you could pull the quote and source it with the comment number. I'll be able to respond more thoroughly once my mind is refreshed. Thanks in advance.

Sun, 06/05/2011 - 18:34 | 1341961 Texas Gunslinger
Texas Gunslinger's picture

I think he was making the point that your comment was fucking idiotic, which it was. 

That's all.

 

Sun, 06/05/2011 - 18:46 | 1341978 topcallingtroll
topcallingtroll's picture

I suspect he knows a lot more about latin america and late 19th early 20th century german socialist philosophy than you do.

Sun, 06/05/2011 - 19:01 | 1342005 Texas Gunslinger
Texas Gunslinger's picture

If you're going to pull stuff out of your ass, perhaps you could have your boyfriend do it.  Not only will it entertain him, maybe he'll get off and you won't have to spend so much of your evening on your knees. 

 

Sun, 06/05/2011 - 19:18 | 1342029 topcallingtroll
topcallingtroll's picture

Your comment confirms my belief that you dont know a lot about the world.

Sun, 06/05/2011 - 18:53 | 1341981 topcallingtroll
topcallingtroll's picture

See my comment above.

Sun, 06/05/2011 - 18:35 | 1341963 Rynak
Rynak's picture

all the fools who bought into imported German socialist programs as SHTF.

Strange. I thought the germans simultaneusly with the introduction of the euro, gave their socialist programs a haircut that was of the skinhead-fashion... and it was done by the...... socialist party :) But don't let those facts disturb your worldview.... it's probably just an isolated contradiction, and transitory.

Sun, 06/05/2011 - 18:44 | 1341976 topcallingtroll
topcallingtroll's picture

I suspect he is talking about the old style german socialist philosophy, not what is currently practiced.

I like the current german attitude that if you dont accept a job when offered your benefits are cut off immediately.

Latin america is a rowdy place, but there is a lot more personal liberty and an incredibly low tax collections. Governments without money cant restrict your freedoms as much. You can open any business you want ( other than mexico) and there is no government interference or effective regulation. For people with business sense south america is the land of opportunity.

Sun, 06/05/2011 - 18:51 | 1341980 Rynak
Rynak's picture

I like the current german attitude that if you dont accept a job when offered your benefits are cut off immediately.

Yup, corporations and banks love it. No longer need to deal with employment being a contract, in which both parties barter. Who needs a free market anyways. Also, i remember some interesting details about just who it was, that designed those programs.... but my memory must be wrong, because what i remember is quite disturbing.

Bottom line: Get those fucking wages and working conditions down already!

Sun, 06/05/2011 - 19:23 | 1342033 topcallingtroll
topcallingtroll's picture

Rynak why should I or anyone else support you or others in idleness because you think you are too good for the available work?

Sun, 06/05/2011 - 20:31 | 1342079 Rynak
Rynak's picture

Because you have to, as long as the government does not fix capitalism, by allowing freemarket-unemployed to satisfy their demands themselves.

Like most converted republicans (and liberals), you're a tool. You think you've broken out of the system, and understood what's going on, but you have not, because most rootlevel dichotomies are still intact in your mind.

You're living in a broken system and you are among those that need to plug the holes, because if you do not plug them, the system will crash via revolution (and rightly so!). Your reaction to this idiocy, is not to demand that the system gets fixed. Instead, you succumb to primitive envy, egoism and work-you-lazy-slave!-sadism.... you bash the losers of this casino (and it with mathematical certainity is a casino)... instead of demanding that the system gets fixed, and thus the casino abolished. And not just that, since you still believe in the overall doctrines, you go as far as SUPPORTING the system in increasing its defects.... by promoting measures that will decrease hourly wages, decrease selfautonomy.... so, bashing people even deeper into slavedom (how so? Easy: If hourly wages are reduced, even MORE work is needed to satisfy the cash demand).

Really, you're a typical individualist and egoist. You notice things that do not seem fair, so you reject it and blame the messenger. Thoughts how to ensure everyones selfsustainability do not cross your mind - and neither do thoughts that something is totally batshit insane on the collective level of the model. You see statistics showing ever wider chasms and inbalances in all kinds of things..... but the thought never crosses your mind that something is fundamentally wrong...... instead, you naively think that if only there were less state, less regulation, less wellfare.... all problems would automatically solve themselves. An assumption which is a blueprint of every stereotypical camper "if only everyone would join my camp, all problems would go away".

Hey, i've come up with a great idea: You see, there are certain deficit programs. So, lets just abolish the deficit programs, ignore why they exist, and not think about how to stop making them deficit programs. There, i fixed everything with an axe - am i not an economic genius?

Been there, done that, evolved.

P.S.: By the way, this regarding economic problems, is a rule of thumb that works with such high accuracy, that it reveals how stereotypical most people are: When faced with any economic problem, the answer of capitalists is to just axe stuff alltogether, while the answer from socialists is to just throw money at the problem. Both reveals impressive mental lazyness.

Sun, 06/05/2011 - 19:07 | 1342013 Conrad Murray
Conrad Murray's picture

Strange. I thought the germans simultaneusly with the introduction of the euro, gave their socialist programs a haircut that was of the skinhead-fashion... and it was done by the...... socialist party :) But don't let those facts disturb your worldview.... it's probably just an isolated contradiction, and transitory.

Yes, if you are completely ignorant of history, I can see how that might make sense to your feeble little brain. Now, if you hadn't spent your youth exclusively playing video games and drinking Milwaukee's Best, you might have known that Germany existed before the Euro. You might further be aware of the origins of the foundations of the entitlement programs in the United States of America. Dare I say, if you hadn't been so busy huffing airplane glue from your mother's used douche bottles, you might even have had the capacity to follow through all the way to the time of court-packing threats. But, I digress.

Instead, you've chosen a path of ignorance. Spewing forth unfounded bullshit like a good little robot is the only sure way to make it in the bottom rung world of delusional twats you come from. I understand. No amount of nurture can fix stupid once nature and a filthy gene pool collude to produce dreck.

Sun, 06/05/2011 - 19:21 | 1342027 Rynak
Rynak's picture

Translation of your post:

asshole asshole asshole die asshole asshole asshole asshole asshole die asshole asshole asshole asshole asshole asshole asshole asshole asshole asshole asshole asshole germany long ago exported social programs to the usa asshole asshole die asshole asshole asshole asshole die asshole asshole asshole asshole asshole asshole asshole asshole asshole asshole asshole asshole asshole die die die die die die die die

Oh, i see clearly now..... definatelly, i should evolve to an enlightend mind like yours. Thank you, Mr. Neo-Republican.

Sun, 06/05/2011 - 22:40 | 1342332 Cathartes Aura
Cathartes Aura's picture

ahhh Rynak, you're on a roll today, thanks for the laughs, and for the truths throughout, this post & above.

Sun, 06/05/2011 - 23:08 | 1342366 StychoKiller
StychoKiller's picture

KNOW thine enemy:

"The Dirty Dozen, How Twelve Supreme Court Cases Radically Expanded Government and Eroded Freedom"  ISBN: 978-1-935308-27-0

Sun, 06/05/2011 - 18:21 | 1341945 Rynak
Rynak's picture

So funny to see that people only riot when it's to late.

While there is some truth to this, they riot now, because now suddenly all consequences become visible at once. Would they riot, if the consequences would have become visible slowly over a long timespan?

Granted, they shouldn't have entered this corrupt and parasitary relationship to begin with. Why did they do it anyways? I've got two causes:

1) Lack of experience with this kind of game.

2) Corrupt education and culture. This is a problem all across the globe... people are not raised and educated in a way that teaches them how to check information themselves (for example, how many countries can you name, where logics is teached in basic school? Zero perhaps? No nation which teaches people basic logics before learning maths, even though the later builds on the former?).... plus they never are educated about how dichotomies work.... most don't even know what that is. By lacking basic conceptual analyzation skills, and being defenseless against dichotomies, deceiving them is a piece of cake.

Sun, 06/05/2011 - 18:39 | 1341965 topcallingtroll
topcallingtroll's picture

They also have the typical latin/southern european attitude of living for the day and looking for easy street.

I am partial to hardworking protestants who delay gratification. I would be very ashamed if my children developed the L/SU attitude.

I suspect my culture and personal philosophy is why my family is comfortably in the top five percent having started out in trailers and shacks without indoor plumbing just one generation previous.

Sun, 06/05/2011 - 20:25 | 1342126 Rynak
Rynak's picture

No, "you need to endure pain to earn happiness. The more pain, the more happiness." (sadomasochism) does not prevent the current setup.... in fact, it is how people are made to endure it.

You are under control.

Sun, 06/05/2011 - 14:49 | 1341559 jelyfish
jelyfish's picture

Anyone else catch Max Keiser's show when he talked about the Greek President taking out CDS's after he was elected but, before he started his term.  (CDS was like 1.2 billion -- now worth 27 billion if my memory serves.)

Sun, 06/05/2011 - 15:06 | 1341611 High Plains Drifter
High Plains Drifter's picture

if you remember when this first started, that it came out that these people were heavily involved with and connected to the goldman sachs squid......

Sun, 06/05/2011 - 14:57 | 1341574 falak pema
falak pema's picture

Cds is the way the Oligarchs nail the greeks to the cross...its a sophisticated way of saying...double penetration to those on their knees...you pay once to let us advise you on how to structure your finances illegally and by cheating (as we are specialists at it, aka Abacus). Then you pay us a second time as we win on speculating short on the CDSs, knowing full well where you've cheated in your financial shenanigans; on which we advised you ten years ago!

Our rip-off is measured in billions, paid by the masses, who knew nothing about how their leaders sold them down the river to us : two times round! Bang bang we shot you all down...and so it goes on...

Sun, 06/05/2011 - 16:26 | 1341777 Reptil
Reptil's picture

Nailed it.

Sun, 06/05/2011 - 18:58 | 1342001 hedgeless_horseman
hedgeless_horseman's picture

Yes, but what is the next game?  Another try at carbon credits, per chance?

Sun, 06/05/2011 - 20:05 | 1342085 topcallingtroll
topcallingtroll's picture

Next game is small scale entepreneuralism as permanent employment and benefits disappear, unless you are a.government worker.

Sun, 06/05/2011 - 20:17 | 1342114 dark pools of soros
dark pools of soros's picture

sex slavery for the young and drug farmer for the old...  the talmud saith so

Sun, 06/05/2011 - 21:24 | 1342210 blindman
blindman's picture


CRIMINAL FRAUD CHARGE REPORT
AGAINST SPECULATORS AND THEIR
GREEK ACCOMPLICES & PARTNERS
http://www.stopspeculators.gr/
.
? Max Keiser ????????? ??? ?. ??????????? Fly by night dictator
http://maxkeiser.com/2011/06/03/%ce%bf-max-keiser-%ce%b1%cf%80%ce%bf%ce%...

Sun, 06/05/2011 - 14:58 | 1341588 PulauHantu29
PulauHantu29's picture

Looks like this austerity package gives special meaning to the "Spartan way of life."

Mon, 06/06/2011 - 04:25 | 1342673 nathan1234
nathan1234's picture

+1

Sun, 06/05/2011 - 15:01 | 1341594 High Plains Drifter
High Plains Drifter's picture

wow, look at all the furries......

Sun, 06/05/2011 - 15:05 | 1341601 falak pema
falak pema's picture

Greece is now a province of the Germans under perfusion by the troika...it will pay them well as it did the Romans...

Sun, 06/05/2011 - 15:04 | 1341609 gianakt
gianakt's picture

    Attention Greece is raising the price of ouzo and olive oil to a million dollars a bottle each. As advised by the banksters.

Sun, 06/05/2011 - 15:42 | 1341681 Captain Planet
Captain Planet's picture

I think a cornering of the olive oil market would have been the much better solution.

They could have used the bailout money to control supply chains in greece and italy and create an (olive) oil cartel, handcuffing at-home gourmets and the chefs at banksters' favorite restaurants

Sun, 06/05/2011 - 15:09 | 1341613 CrashisOptimistic
CrashisOptimistic's picture

It's the same comment as all Sundays.

Nothing is going to change until bullets start going through heads.

Period.

Sun, 06/05/2011 - 16:27 | 1341773 agent default
agent default's picture

When everything else fails people will start voting from the roof tops.

Sun, 06/05/2011 - 21:02 | 1342182 serotonindumptruck
serotonindumptruck's picture

Fortunately, in that scenario, the voters will be allotted more than one vote each. The beauty of true democracy.

Sun, 06/05/2011 - 15:09 | 1341616 Comrade de Chaos
Comrade de Chaos's picture

Rothschilds

 

(wait for it)

 

when / if Chinese salaries reach parity .. haha, (did get the punchline) then everybody will realize, oh shit we have been underinvesting in the means of production for over a decade now..and whoever will rush the last, will lose the most.

(well, the main advantage and the cause of the rise of the North, wasn't necessary the labor cost, contrary it was implementation of the new manufacturing techniques and technology. )

Oh well, all shell pass and one day, 'dinosaurs' shell be gone. (and yeah, the key question is when, hopefully during our lifetimes.)

Sun, 06/05/2011 - 15:18 | 1341632 equity_momo
equity_momo's picture

Can you post an update please Tyler when the Molotov Cocktails start getting tossed.

Sun, 06/05/2011 - 15:48 | 1341700 Herman Strandsc...
Herman Strandschnecke's picture

tossing plates is far more intimidating

Sun, 06/05/2011 - 15:51 | 1341667 buzzsaw99
buzzsaw99's picture

there's no tellin' where the money went...

http://www.youtube.com/watch?v=yNFp7zStBvY

greece is going to have to face it they're addicted to debt...

http://www.youtube.com/watch?v=XcATvu5f9vE&feature=fvwrel

Sun, 06/05/2011 - 15:40 | 1341671 High Plains Drifter
High Plains Drifter's picture

what are they waiting on?  they could take that building easy.  they would overrun those cops real fast.......

Sun, 06/05/2011 - 15:42 | 1341683 zelter
zelter's picture

Why are you chucklefucks implying that Greeks are/were living beyond their means? If the real economy of goods and services existed up until the judenfetzen crisis, then it physically worked just fine. This is the 21st century, and with the current energy usage there is more than enough available for the lives they've lead so far.

Sun, 06/05/2011 - 16:58 | 1341833 equity_momo
equity_momo's picture

Err , you know how much the average mope there pays in tax? Rather , how much the average mope AVOIDS in tax?

Theyve been getting not just a free lunch , they were getting free dinner aswell.

Sun, 06/05/2011 - 17:12 | 1341865 zelter
zelter's picture

Your point? The government services were rendered in this earthly reality based on an accounting entry showing something, hence they can be likewise rendered if we were to avoid a quangocratical central bank and attendant internationalist treason and put it out of the equation.

A free dinner from whom? What are you talking about? You're likely talking about some irrelevant effects of free trade, but do go on.

Sun, 06/05/2011 - 18:27 | 1341953 topcallingtroll
topcallingtroll's picture

The huge number of loans and huge amount of sovereign debt the greeks wont pay back?

That wasnt a free lunch?

Sun, 06/05/2011 - 19:00 | 1341999 zelter
zelter's picture

I believe you have some trouble with what money is for, which is accounting and national commerce. Money is not production, money is claims on production based on accounting entries and its supply can be regulated to fit the needs of commerce; it is worth nothing and you can make but nothing out of nothing. If the upper ceiling of the real economy hasn't been found out, and there is no reason to believe it has (other than oil security) given the past few years in which it operated just fine, then there's only some accounting entries to worry about.

The sovereign can abolish all debt at all times to enhance the general welfare. It is a perverse lie that he cannot do that, or Greece is not a sovereign country. Democracy makes the people stupid as to what their democratic choices can involve--everything--which is why an authoritarian state is always superior to this trash. Read the Hammurabian tablets, they were perfectly aware of that during the Babylonian empire, and the need for a clean slate as regards debt once in a while.

 

Sun, 06/05/2011 - 19:08 | 1342012 topcallingtroll
topcallingtroll's picture

If you can abolish debt on a whim then commerce is difficult on a large scale. Most businesses work on thirty and sixty day credit and often sell the goods they received before paying off the supplier.

Without a belief that debt is enforceable, then demanding cash on delivery would grind most commerce to a halt, because most businesses dont have a great deal of working capital and depend on credit, i.e. debt.

People wont have confidence in a currency if the government just prints up what it needs to make accounts balance. It wont be a stable store of value if it is diluted whenever the government finds it convenient " to make the numbers work."

Sun, 06/05/2011 - 19:35 | 1342041 zelter
zelter's picture

I never claimed it should happen on a whim; but debts that can't be paid, and that won't facilitate commerce or the general welfare by paying them should be abolished. In our case, they're primarily extractive overhead, for fuck's sake. The debt load is not based on accumulation of real capital, just the magical exponential function. It does not serve to account the real economy.

Confidence in a currency can be granted solely by the what the sovereign demands used for the payment of public and private debts. I never said that the government should print anything, or in excess, like the post-Keynesians do. The government already finds it convenient to do that.

Money's usage as a long-term store of value is overrated, because it is valueless and should be widely recognised as that. It's just a tool to replace barter given the advanced division of labour and the attendant separation in time needed between the two parts of the transaction that is served by the IOU in question. I'm sorry you feel it can only work through a confidence racket.

Sun, 06/05/2011 - 19:54 | 1342078 topcallingtroll
topcallingtroll's picture

Your last paragraph about barter and "separation in time" is key. A currency must be a stable store of value for transactions to have separation in time.

Look at the standard of living in places without some minimal value stability and faith in currency, and where debts and contracts cannot be enforced.

I agree the greeks should repudiate. It is not without cost. It will be painful.

Sun, 06/05/2011 - 20:07 | 1342098 zelter
zelter's picture

A currency does not have a stable store of value, in part because of morons who believe in, and make a self-fulfilling and self-defeating prophecy of, the so-called time value of money. The store of value cannot be held stable forever, though, regardless, so it is wise that everything is kept short-term.

Sun, 06/05/2011 - 18:50 | 1341982 equity_momo
equity_momo's picture

Irrelevant effects of free trade?......

 Im not sure where to start , you seem to be implying that the Greeks are merely in a quandry due to some accounting standards.

Sun, 06/05/2011 - 19:02 | 1342002 topcallingtroll
topcallingtroll's picture

He seems to think they can just plug in whatever numbers they want and everything will be fine.

This is a more primitive version of the greenback movement, that governments can print money at will without a corresponding equivalent liability.

Sun, 06/05/2011 - 19:07 | 1342014 zelter
zelter's picture

Greece has the slack capacity, albeit not for very long as her claims on oil production dwindle into nothingness, to reindustrialse and produce most it needs domestically. The debts acquired as a result of the free trade bullshit can be abolished, and should be. They won't, but that's a different matter.

Sun, 06/05/2011 - 19:43 | 1342055 equity_momo
equity_momo's picture

True but you first implied that Greeks were not living beyond their means. They have done so ever since the Euro inception - as Ireland and many other countries have.  Once they default and reintroduce the drachma , yes , they can then be a productive and self sufficient society once again WITHOUT the need of handouts from Brussels. BUT , the standard of living drops for society once that takes place. They go back to living within the means of their productive output , which is well below what the credit fuelled boom of the last decade has gotten them used to.

Sun, 06/05/2011 - 19:52 | 1342075 zelter
zelter's picture

If both Germans and Greeks are alive out of the result of Germany forcing German products on the Greek market and Greece bending over and taking them, plus Germany gaining advantages via economies of scale that served its exports throughout the world, then I don't see the major problem here. The EU is after all, according to chantings of the Eurocrats, one supranational state. The debts are now mostly to irrelevant financial institutions whose members can be decapitated off if need be.

The Germans (and the entire Eurozone) are living beyond their means too:

http://mazamascience.com/OilExport/output_en/Exports_BP_2010_oil_bbl_DE_MZM_NONE_auto_M.png

and when the gravy train stops, and the energy inputs are out, it's over for them. So what?

Mon, 06/06/2011 - 04:02 | 1342669 equity_momo
equity_momo's picture

Now youre learning. Yes , the germans are living beyond their means. So are practically every Westernized nation on Earth.

Sun, 06/05/2011 - 15:48 | 1341701 RobotTrader
RobotTrader's picture

Another $100 billion bailout will be announced before the market opens tomorrow.

That will be $200 billion total.

Sun, 06/05/2011 - 16:25 | 1341775 High Plains Drifter
High Plains Drifter's picture

is that like european QE?  

Sun, 06/05/2011 - 17:56 | 1341918 Gordon Freeman
Gordon Freeman's picture

you're still 800B short RT.  Total will be ~1T, but they have to trickle it out--prolly be late '12 before they fess up...I miss your T and A posts--what gives?

Sun, 06/05/2011 - 15:50 | 1341709 allenaki
allenaki's picture

Hi Tyler, in order for you not  be disinformed,

the tendencies in Greece are:

internationalism - europaism
(approaches communism/socialism)

and

Euroscepticism-Ethnical State (approaches the values of Independence and Sovereignty)

I Suggest you should get information also from 2 of the biggest sites Antinews.gr and Olympia.gr,where the commantators very often refer to your site

Βig problem is the illegal immigration and criminality because of it.

Illegal immigrants are pushed to Greece by the Turks in Evros, the cannot find jobs and the murder, rob and steal our elder people, rape young women.

Sun, 06/05/2011 - 15:54 | 1341720 Hacksaw
Hacksaw's picture

Oh, but don't you see that those wet backs are needed by the corporate fascists so they can deflate your wages.

Sun, 06/05/2011 - 16:01 | 1341743 allenaki
allenaki's picture

we are aware of this fact of course, the number of the Illegal Immigrants in Greece IS UNKNOWN!!! nobody knows how many they are, they are spread all over the country and they come from Pakistan, Afghanistan, Bangladesh, Somalia, Nigeria, Albania, Sudan, Moroko, Algeria, Tynesia, Magreb.

Τhey are extrem violent and aggressiv against the natives

THIS IS AN INVASION AND NOT IMMIGRATION ANY MORE!!!

 

 

 

Sun, 06/05/2011 - 16:13 | 1341758 zelter
zelter's picture

Are the Greek nationalists you speak of committed to mucking out all the non-Greeks or non-Europeans, or just those in excess of the supposedly "good" amount? I.e., is this genuine ethnic nationalism that is going on, or economy-laden/civic/cultural "nationalism" with genocidal tints of "integration" and "assimilation"?

Sun, 06/05/2011 - 16:26 | 1341780 allenaki
allenaki's picture

For the moment the GREEK ELDER people and the WOMEN -elder/younger-in the big cities, Athens, Patras etc, fall victims in robberies, slaughters (for money), and even elder women 80, 85 years old have been RAPED by one or more illegal immigrants, sometimes groups of 8 pakistanis or similar !!!

But also their own people FALL VICTIMS.

Dozens of incidents, where pakistanis or algerians or morokans "prison" their people and demand money to free them!!!

Not to mention the young African women brought here by the slavery on the streets by african pimps who blackmail them with knifes etc or even with "voodoos".

IF YOU THINK THIS IS A LIE, JUST OPEN THE SITES

EGLIMATIKOTITA.BLOGSPOT.COM or

the site CRIMES-ONAIR.BLOGSPOT.COM (or CRIMESONAIR)

Sun, 06/05/2011 - 18:28 | 1341952 topcallingtroll
topcallingtroll's picture

Thanks for the info.

Some people are just too primitive and unable to assimilate.

They should not be allowed to immigrate to decent countries and bring their misogyny and primitive beliefs.

Sun, 06/05/2011 - 16:34 | 1341793 allenaki
allenaki's picture

THE "GENOCIDAL" ASPECT YOU IMPLY IS IMPLEMENTED AGAINST THE GREEK NATIVES BY THE GOVERNMENT AND IT'S HELPERS.

ONE TOOL FOR THIS GENOCIDE IS THE UNCONTROLLED ILLEGAL IMMIGRATION !!!

WE ARE TALKING HERE ABOUT FAST POPULATION SUBSTITUTE!

INVASION OF THOUSANDS OF YOUNG MEN ONLY, MOSTLY AFRO-ASIAN AND A MIDDLE-AGED GREEK POPULATION UNDER IMF!

ALL LAWS DISCRIMINATE THE GREEK FAMILIES AND FAVOUR THE IMMIGRANTS FAMILIES.

NO PLACE IN STATE HOSPITALS, IN STATE BABY-SCHOOLS FOR US.

ALL STATE HOSPITALS ARE FULL OF ILLEGAL IMMIGRANTS, WHO PAY NOTHING.

Sun, 06/05/2011 - 16:57 | 1341827 zelter
zelter's picture

You misunderstand, I totally agree on that point and that's what I meant: Greeks are the victims here because they are being race-replaced by foreigners. I support the Greek people and their continued existence, and oppose immigration, large-scale or small, utterly. Much of Europe is having the same problem, and I totally understand the situation even if Greece's is worse. I am just wondering if Greek nationalists are serious about restoring their nation back as an exclusive Greek ethnic state, which would imply opposing all immigration (legal and illegal), and actively removing the extant foreign peoples who came as a result of the "legal immigration" done under an illegitimate, brigand anti-Greek government.

Sun, 06/05/2011 - 17:06 | 1341849 allenaki
allenaki's picture

For the moment ΝΟ.

ΤΗΕ government, is fully supporting and promoting the immigration in hundreds of thousands and even giving to every pakistani and morokani the Greek Ithageneia - citizenship after only 3 or 5 years here!

Sun, 06/05/2011 - 21:25 | 1342213 serotonindumptruck
serotonindumptruck's picture

Where are your guns, man? Do Greeks own firearms?

You must TAKE your country back, by force if necessary.

Mon, 06/06/2011 - 12:47 | 1343618 allenaki
allenaki's picture

We are not allowed to have guns (we, the citizens).

If you have a hunting riffle (which is allowed under licence etc) and you shoot a thief or murderer invading your house you go to trial and get sentenced even 10 years.

Guns have only the private guards of the political mafia, all the criminals and all the illegal immigrants (many of them were imprisoned in their countries, escaped and came to Greece.

ONLY THE LOYAL GREEK CITIZENS ARE NOT ALLOWED TO CARRY GUNS FOR THEIR PROTECTION.
The Police has guns but it is not allowed to shoot directly on people, for instance in a bank robbery. The Police doesn't have fuel for the cars, or bullets for the guns, or these vestas to protect the cheast. The policemen must buy them on their own money.

Sun, 06/05/2011 - 16:04 | 1341744 Herman Strandsc...
Herman Strandschnecke's picture

Correct and they also dilute nationalism and patriotism

edit: I mean a fair amount of immigration is OK but too much dilution changes the main ingredient. When does a beer become a shandy and when does lemonade become a lemonade with a hint of beer? Etc. etc.

Sun, 06/05/2011 - 16:57 | 1341822 Sudden Debt
Sudden Debt's picture

WHY THE HELL WOULD SOMEBODY PUT LEMONADE IN THEIR BEER?!?!

 

and then you say Europeans are crazy....

 

Sun, 06/05/2011 - 17:05 | 1341838 CitizenPete
CitizenPete's picture

SD, your not yet another NASCAR redneck purist protecting his 24oz frozen glass of watered down piss, as if he knows what a real beer is, are you?

Sun, 06/05/2011 - 17:32 | 1341887 Herman Strandsc...
Herman Strandschnecke's picture

In Europe lemonade is put into lager and the french are fond of hand shandys

Sun, 06/05/2011 - 15:52 | 1341712 Superslam
Superslam's picture

How many jobs would a massive drachma printing campaign create?

Sun, 06/05/2011 - 16:48 | 1341816 Sudden Debt
Sudden Debt's picture

Well... most of the paperpulp comes from Norway these days so zero in Greece for that one.

The money presses are build in Germany so zero in Greece for that one.

They'll probably print it in Brussels so zero in Greece for that one.

And for the logistics part, they'll hire some cheap Polish truckers so zero in Greece for that one to.

so... none actually...

 

Sun, 06/05/2011 - 15:58 | 1341721 allenaki
allenaki's picture

correction: the commΕntators,

theΥ cannot find jobs and theΥ murder

Sun, 06/05/2011 - 15:58 | 1341732 Hubbs
Hubbs's picture

Ahhh, Greece, arguably the birth of western civilization, now soon to be the beginning of the end of civilization...for all you survivalbloggers and preppers (not that I am saying you're wrong, but rather, ...just sayin'.)

Sun, 06/05/2011 - 21:30 | 1342220 serotonindumptruck
serotonindumptruck's picture

So what are you sayin'?

Sun, 06/05/2011 - 16:03 | 1341738 imapopulistnow
imapopulistnow's picture

Can't wait to see how we react when we come to grips with our debt crisis.  it should be fun.

Sun, 06/05/2011 - 16:08 | 1341747 Hacksaw
Hacksaw's picture

Isn't it amazing how the fascists have gotten enough nerve to come crawling out from under their rock. Many of my family and neighbors fought and died defeating them the last time and there wasn't a socialist in the bunch. The nazi MO hasn't changed, only the victims and method have changed. Last time it was the Jews who were lazy, no count, stole all the fascists money, and deserved what they got in the gas chambers. This time the plan is the same except it's the poor, disabled, old, and those trapped in corporate fascists debt, but instead of the gas chambers it's simply letting them starve. The Germans are bailing out their OWN banks, not the Greeks and the fascists are using it as a means to reassert themselves on the rest of us.

Sun, 06/05/2011 - 16:14 | 1341759 huggy_in_london
huggy_in_london's picture

hmmm, come on dude..... i don't think anyone deserves what they got in the gas chambers....

 

Sun, 06/05/2011 - 16:15 | 1341762 allenaki
allenaki's picture

I suggest you try to have a walk one afternoon after 5 o' clock in one of the ghetto neighbourhoods, flooded by illegal immigrants, and then see if you find your head on your shoulders after one ten minutes walk, or if the decapitulate you.

Just the day before yesterday, the athenian major Mr . Kaminis in an interview in L.A.Times described a miserable situation for Athens.

Sun, 06/05/2011 - 18:59 | 1341995 Id fight Gandhi
Id fight Gandhi's picture

Godwins law complete. How long that take?

Sun, 06/05/2011 - 16:08 | 1341753 allenaki
allenaki's picture

In order for you Tyler and for your readers not to be disinformed, this is our No. 1 problem, because we are a small nation of 10 million people with aggressiv ottoman neighbours, I suggest you should read and automatic translate the BIG sites in Greece which deal with the Criminality problem.

Τhis is the site www Eglimatikotita.blogspot.com, there U can find all the data about the vertical criminality increase due to illegal immigration.

This is not an advertisement, this is a real existence problem for the Greek Citizens especially in Athens, in Patras, in Igoumenitsa, in Messinia, in Lakonia, where the ghettos are.

 

Sun, 06/05/2011 - 16:19 | 1341766 Greeny
Greeny's picture

Greeks are lazy socialist type of people, then never pay Taxes:

"Where our money go" - f*s! What are you talking about???

What money? Punks! They are ripping off the .Gov and never

give anything back.. Riots my A$$.. They should be booted

from EZ like yesterday.. All they can do is drink cheap wine

under the sun on the beach whole day long, like somebody

owe them something..

 

 

Sun, 06/05/2011 - 17:10 | 1341858 jkotinis
jkotinis's picture

you know , Greeks are not only of that type. There are too many of them that pay normally their taxes. The way you access the problem just show your empathy.

And I fully return to you the term lazy since you don't know what you are talking about

Problem is that from 1981 when the socialists came to power and thereafter, the debt become bigger and bigger and the public sector become also bigger and bigger. Now we are at a stage where we have 75 billion expenses and 50 billions income. The difference is the deficit.Unfortunately that will mean that the government will have to cut those 25  illions in order at least to have some 0 deficit. Unfortunately for the grek people, the governments they have elected through the years, didn't actually serve the interest of the people. That's truth and that's why those "lazy" greeks as you say gathering at squares, to show their disgusting to the political system that ruled Greece so many years.

But if we want to eb fair enough we have also to recognize and something else.

The drachma / euro exchange when we entered the euro, was too high . That automatically meant that the end was near down the road.  It took 10 years for having majority of production units to close down or to move elsewhere else.

Also the funds that were given by EU in majority returned to production countries like Germany , France and the nordics. 

It could be just a problem of the greeks but what we can see now is that similar problems have also spain and portugal. So the design of the euro from the beggining was actually wrong. It seems that north countries should produce and south countries should spend and buy the products.

 

I am not sure about the outcome of all this and how it will end, probably Greece will be destroyed for the many many years to come, but don't laugh at your living room for the greeks. I believe that sooner or later similar problems come also to many many countries, and I hope Greeks will not be the ones to be blamed again.

 

 

 

 

 

Sun, 06/05/2011 - 18:12 | 1341933 Greeny
Greeny's picture

Seriously, nobody laughing, I don’t blame you. It's nearly impossible to
work with such nice weather and beaches and everything..
Nice culture, relaxed people. Greeks should just collect the
dividends from tourism industry.. Perhaps build Greek Las
Vegas as well. And you don't need EUR, as high currency valuation
making your country less competitive overall.. Greece, Italy, Spain
Portugal should drop EUR and go back to their old currencies,
so you guys all can print money on your own.. Good luck..
.

 

Sun, 06/05/2011 - 18:30 | 1341957 jkotinis
jkotinis's picture

thanks for the good luck!!!

As for dropping the euro, even I am pro european and fan of the idea, but as the situation is right now and how it seems that it will develop, I am not quite optimistic to be honest.

hope you understand my reaction

thanks

Sun, 06/05/2011 - 20:08 | 1342090 mick_richfield
mick_richfield's picture

They should sell a few islands.

I wonder what they want for Lesbos?

Sun, 06/05/2011 - 18:52 | 1341955 slewie the pi-rat
slewie the pi-rat's picture

the personal knowledge of the greek history and eu_background is always nice:  Problem is that from 1981 when the socialists came to power and thereafter, the debt become bigger and bigger and the public sector become also bigger and bigger. Now we are at a stage where we have 75 billion expenses and 50 billions income. 

socialists gone wild is an expensive production, in any country. 

wasn't it maggie thatcher who said that the problem with socialism is that eventually you run out of other people's money? 

then, you run thru your money.  fast, too!

Mon, 06/06/2011 - 03:24 | 1342659 nathan1234
nathan1234's picture

The US debt is growing bigger and bigger. And pray what are the Amercians doing about it? And as for the Congressmen and Senators they are similar to the Greek Politicians

Sun, 06/05/2011 - 17:53 | 1341875 Reptil
Reptil's picture

I lost you at "All".

Yeah they fucked up. I think the following:

1. Greece is arable farmland, reasonable clean sea, lots of good opportunities there.

2. The goverment was, is and always have been a corrupt bunch of thieves. Complete cronyism in a unique form. With some "flavour". Banks knew it, European politicians knew it, and a part (the educated, successful greek knew it. They enjoyed their 15 minutes of fame. Tax haven? In that mess? I wouldn't park my bike there now.

3. Where's the army? Where's the nationalism of Greece? Are they really at the beach. That would be wrong timing.

4. The argument made earlier on this site: This is an IMF ECB template, to scare (if it goes wrong), or parade a couple of other countries. It also means it's a template for our loss of souverignity. They'll say: "If you agreed with the fate of another european country, even advocated it, why are you making a protest now?" Boom headshot.

5. I feel sorry, for that country. Never is there one minded population ever. It's indeed like the good and bad and ugly. In this case, good lost, bad won, and ugly helped bad. Ugly will find out later that the swimmingpool can't be filled up ever again because of lack of water.

But there's farmers, illiterate, hardworking, used to simple but true surroundings (trees, soil and their wife). Or something... You get the point I hope. Those farmers were buttfucked by government, and the EU, earlier, with a collapse in fruit prices (at the source but not at the shop here in the north), and good times for the party squad (ugly). Yes buttfucked. What a lot of japanese would give now for a clean "fatherland island". Or chinese. oh..... yes I see.

The fools (ugly) didn't, still don't understand what exactly they totally gave away for a little boat, some fiat, and that swimmingpool, which will be taken away after the transfer is complete. Also a template of the recent past. Argentina anyone?

video: http://www.youtube.com/watch?v=rH6_i8zuffs

HOW SHAMEFUL AND SAD that europe becomes "united" in such a degrading way. Our politicians have now royally screwed a good idea (trade union) into something potentially unproductive and orwellian. A fucking IMF ECB bank owned farm? That's what they had in mind? With some bureaucrat scum/clerks running it? SO much more was/is possible! All this while the banks missed the mark on assessment of risk royally? Private banks? Government central banks dealing with Goldman Sachs under the table? How much CDS were there? A lot really...

Mon, 06/06/2011 - 03:19 | 1342658 nathan1234
nathan1234's picture

So why were they allowed the join the EU in the first place. You loan money to such people, you pay the price. Don't shed tears and wail.

Mon, 06/06/2011 - 06:38 | 1342709 overmedicatedun...
overmedicatedundersexed's picture

nathan my boyo, "why were they allowed the join the EU in the first place. You loan money to such people, you pay the price. Don't shed tears and wail."

..............

the banksters thank you for your support>>

many here on ZH ask, rightly so,where is the haircut for those who lent to such an obvious bad investment?? you know the ones making billions on bonus for being the smartest people on earth.

Sun, 06/05/2011 - 16:32 | 1341791 linrom
linrom's picture

China daze-the root of evil production empire. The Greeks are leasing their shipyards to the Chinese who are ramping up shipping capacity in order to sell more goods to Western Europe. I am not making this up? Greece is the new silk road to Europe.

Sun, 06/05/2011 - 16:42 | 1341801 RobotTrader
RobotTrader's picture

EUR/USD is open.  Still above 1.46

Greece riots still have no impact whatsoever.

Sun, 06/05/2011 - 16:53 | 1341819 Sudden Debt
Sudden Debt's picture

5 more weeks before the euro goes down and dollar up.

 

Sun, 06/05/2011 - 17:47 | 1341908 Passion Trader
Passion Trader's picture

Why 5 weeks later ?  what event/incident to trigger the EUR to go down and USD to go up ?

Sun, 06/05/2011 - 18:59 | 1342004 equity_momo
equity_momo's picture

Headlines dont make markets trend dumbfk.  No wonder youre such a bad trader.

Sun, 06/05/2011 - 17:00 | 1341830 allenaki
allenaki's picture

The struggle in Greece is one and only:

Ethnical State - Sovereignty and Independence

against

Global Governance and New World Order.

The Prime Minister is a DEDICATED GLOBALIST.

In all his speeches, in and out, he declares openly and loud:

"WE NEED A GLOBAL Government and we need it faast!"

He lives and acts as an international citizen, not greek-minded.

He is an american citizen, and american minded, not with the ideas of the American Independency, but with the ideas of socialism and taxing on everything that flies and swims.

Sun, 06/05/2011 - 17:35 | 1341891 Reptil
Reptil's picture

Just like this guy in the Netherlands (minister of economics, agriculture, innovation but practically everything, really. The prime minister is a nerd that lived with his mum until recently.

https://secure.wikimedia.org/wikipedia/en/wiki/Maxime_Verhagen

Corruption seems also a job requirement, or stupidity, or both.

Some links or translations of his speech or somthing tangible would rock. :-)

Sun, 06/05/2011 - 17:06 | 1341840 nicxios
nicxios's picture

Supposedly over 500,000 at Syntagma, possibly as many as 800,000.

Police accused of tear gassing some protesters trying to make their way to Syntagma.

Game over Papsmear you piece of s*** traitor.

Go home now or risk getting lynched. Maybe you can ask the U.N. to bring in a "peacekeeping" mission? Your life will still come to an end with you hanging from a rope.

 

Sun, 06/05/2011 - 17:10 | 1341860 RobotTrader
RobotTrader's picture

All those lazy Greeks are going to be out of work and homeless.

Life will go on for everyone else who keep working and stay out of trouble.

Just like the air traffic controllers that Reagan fired back in the 1980's.  Those guys got hosed.  The guys that went back to work the next day, well life stayed pretty much the same.

Mon, 06/06/2011 - 03:11 | 1342657 nathan1234
nathan1234's picture

Better to be out of work and free fending for oneself rather than work as slaves.

Sun, 06/05/2011 - 17:15 | 1341871 Sudden Debt
Sudden Debt's picture

leave it up to the Greeks to do a HEADCOUNT...

Sun, 06/05/2011 - 17:05 | 1341845 Atomizer
Atomizer's picture

Good work Greece, the world stands behind you. This song is dedicated too you.

The Chameleons UK - MonkeyLand

http://www.youtube.com/watch?v=17BDBOAwzdM&feature=related

Sun, 06/05/2011 - 17:11 | 1341852 RobotTrader
RobotTrader's picture

AUD/USD open.

Up slightly.

Greece a non-factor so far in currency land.

Sun, 06/05/2011 - 17:09 | 1341855 PulauHantu29
PulauHantu29's picture

$100 Billion....do I hear $200 Billion in the back there.....$200 Billion going once.....going twice....anyone bidding $300 Billion...do I hear $300 Billion...once twice SOLD for $200 Billion!

Sun, 06/05/2011 - 17:16 | 1341874 Volaille de Bresse
Volaille de Bresse's picture

Nowadays the Greek HATE Europe. They just forget Brussels sent them about 80 bil € during the last 25 years. A taxi driver said on TV : "I used to believe in Europe (sic). I even bought a German car (re-sic). Now I regret my decision."

 

Hey dickhead tell us how you could buy a 30000€/50000$ Mercedes with four 5-7€ taxi fares a day? 

This country was (past tense) a HUGE fraud. I hope the Germans will get whatever they can in hard assets from this dump. 

 

 

Sun, 06/05/2011 - 17:47 | 1341895 zelter
zelter's picture

The Greeks also sacrificed their domestic industry/production to the European Union/Germany. A "free" trade area means a participant country is most certainly not "free" to legally bar foreign products from entry, or to promote national consumption of national production in order to facilitate the development of native industry and offset the trade balance sheet back to normalcy. With the state castrated, it's thus up to the citizenry alone to support the national economy and not buy much of any otherwise-natively-producible foreign products, regardless of the putative advantage in doing so, and the citizenry didn't act on it--as free trade enforcement advocates always expect.

I hope Greece seizes everything back and bans all German commerce for all time using its military if your scenario happens.

 

Sun, 06/05/2011 - 17:41 | 1341897 stormsailor
stormsailor's picture

the same way fast food workers and lawn maintenance workers bought 500k houses in the us.  all of it based on making bs loans and packing them into credit derivatives.

 

here in the us,  most of them stopped paying at reset of their loans and here we are more than 2 years later and the majority are still living in them.

 

how pissed off would you be if you were current on your underwater mortgage and the neighbors on either side are having outdoor parties with all their friends every weekend, driving brand new cars and putting in a pool. while your bank account dwindles and your property values drop like a rock.

 

and now it looks as if maybe they will get to stay without paying forever due to the clouded titles.

 

you better take your good credit and move into the nicest home you can find with about 20 acres, half farmland with creeks or streams and a well. and no lowrent freeloader neighbors.

Sun, 06/05/2011 - 17:41 | 1341899 stormsailor
stormsailor's picture

the same way fast food workers and lawn maintenance workers bought 500k houses in the us.  all of it based on making bs loans and packing them into credit derivatives.

 

here in the us,  most of them stopped paying at reset of their loans and here we are more than 2 years later and the majority are still living in them.

 

how pissed off would you be if you were current on your underwater mortgage and the neighbors on either side are having outdoor parties with all their friends every weekend, driving brand new cars and putting in a pool. while your bank account dwindles and your property values drop like a rock.

 

and now it looks as if maybe they will get to stay without paying forever due to the clouded titles.

 

you better take your good credit and move into the nicest home you can find with about 20 acres, half farmland with creeks or streams and a well. and no lowrent freeloader neighbors.

Mon, 06/06/2011 - 03:03 | 1342656 nathan1234
nathan1234's picture

You make a bad loan you loose your money. Simple fact of life. If you get reimbursed by the Government the people have to pay for it. Why should they?

And dont say those who gave the loan did not do their due diligence. They could have taken collateral when they gave the loan.

In essence you pay for your mistakes whether you are a German banker or an American banker

Sun, 06/05/2011 - 18:38 | 1341892 Hacksaw
Hacksaw's picture

This pretty much describes you fascists and why you are so paranoid.

http://www.youtube.com/watch?v=awi14wDTxNw

Sun, 06/05/2011 - 17:40 | 1341896 nicxios
nicxios's picture

I hope the banksters underestimate Greeks as much as some of the posters here.

Who knows, maybe they do.

Sun, 06/05/2011 - 17:55 | 1341912 Herman Strandsc...
Herman Strandschnecke's picture

Don't underestimate the Greeks. They are clever and resourceful. In fact The Duke of

Edinbrough, Queen Elizaberth II husband is a greek I think.

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