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Breaking News: Angela Merkel Coalition Loses Majority In German State Vote According To Exit Polls

Tyler Durden's picture




 

Political doctrine - meet Newton's third law. Headline from Reuters. This will serve as a huge setback to a consolidated European rescue of not only Greece but all PIIGS (and then all of Europe itself). Polls are now closed and the first preliminary read is as follows: 34.5 CDU, SPD 34.5, 12.5 Green, FDP 6.5 Left 5.5. And the biggest losers from this, aside from the line of willing bailout recipients may be German public utility: as Bloomberg notes: "Chancellor Angela Merkel’s parliamentary spokesman for economy and energy, Joachim Pfeiffer, said that the German government may not have to get approval from the federal parliament’s upper chamber to extend the operating life of nuclear power plants." EON, RWE and other utilities may not appricate their 10 year ultimatum in tomorrow's DAX.

From Reuters:

Chancellor Angela Merkel's centre-right coalition parties failed to retain their majority in a state vote on Sunday, an exit poll showed, robbing her government of a majority in the upper house of parliament.

An exit poll by ARD television put Merkel's Christian Democrats (CDU) on 34.5 percent and their Free Democrat (FDP) allies on 6.5 percent, short of a majority and leaving the make up of North Rhine-Westphalia's next government unclear.

The CDU and FDP have ruled in the state -- Germany's most populous -- since 2005, when they won 44.8 percent and 6.2 percent of the vote respectively.

Their loss of a majority in the state -- and as a consequence in the federal upper house -- means Merkel will have to rely on opposition parties for support for her policy programme, which includes tax cuts, health reform and extending the lives of some nuclear power plants.

 

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Sun, 05/09/2010 - 12:11 | 339269 Mongo
Mongo's picture

FAIL

Sun, 05/09/2010 - 12:11 | 339270 glenlloyd
glenlloyd's picture

The beginning of the end of Frau Merkel.

Sun, 05/09/2010 - 12:13 | 339273 masterinchancery
masterinchancery's picture

bye bye Angela.

Sun, 05/09/2010 - 14:02 | 339498 Ras Bongo
Ras Bongo's picture

Buy Buy Buy

Sun, 05/09/2010 - 15:13 | 339596 berlinjames02
berlinjames02's picture

Looks like another Red/Green coalition. I don't see this ending well for the ordinary German. Merkel promised a lot for the Greek bailouts but wouldn't deliver. The SPD will deliver since they believe their own Keynesian delusions.

At least US GDP will increase 5% next quarter from large shipments of Hopium to the EU.

Surprisingly I don't feel Schadenfreude... rather just disappointed.

Sun, 05/09/2010 - 12:16 | 339281 Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

Well frakking swell, looks like the Fed will have to step in and handle the whole thing now. Someone get AIG on the phone.

Sun, 05/09/2010 - 12:18 | 339287 Hephasteus
Hephasteus's picture

No this is a job for Skank of America. They will take the ritual shit in the billion dollar kamode and it will be healed.

Sun, 05/09/2010 - 12:16 | 339283 Noah Vail
Noah Vail's picture

I find no mention of this in the German media, nor at Reuters. Where did you get this?

Sun, 05/09/2010 - 12:20 | 339292 huggy_in_london
huggy_in_london's picture

bloomberg running that story now also....

Sun, 05/09/2010 - 12:20 | 339294 The Patagonian
The Patagonian's picture

Here, front page

http://www.zdf.de/

Sun, 05/09/2010 - 12:23 | 339301 asdf
asdf's picture

erm, that's breaking news on all TV channels and it's breaking news on handelsblatt,ftd and spiegel.de

Sun, 05/09/2010 - 12:18 | 339286 Martel
Martel's picture

Fuck Angela Merkel.  Merkel's polishing the brass on the Titanic; it's all going down, man.

Sun, 05/09/2010 - 12:30 | 339323 Dr. No
Dr. No's picture

i say lets evolve.

Sun, 05/09/2010 - 17:18 | 339801 Tethys
Tethys's picture

and let the chips fall where they may

http://www.myvideo.de/watch/255499/The_Dust_Brothers_Fight_Club

 

Sun, 05/09/2010 - 13:50 | 339479 desgust
desgust's picture

+1000.....

Sun, 05/09/2010 - 12:21 | 339297 Gold Hedger
Gold Hedger's picture

It was a bright cold day in April (ish) and the clocks were striking thirteen.

Sun, 05/09/2010 - 12:31 | 339325 Winston Smith 2009
Winston Smith 2009's picture

Time for a trip to Room 101...

Sun, 05/09/2010 - 12:22 | 339300 Handle with care
Handle with care's picture

How much of this loss was due to domestic opposition to the bailouts?

 

Because that will determine whether she can still get parliamentary majorities to get the bailouts approved.

 

If she can't and it becomes clear that German will no longer pay for bailouts due to domestic political pressures, then goodbye Euro, goodbye PIIGS.

 

A couple of trillion of dollars in sovereign debt simultaneously entering "voluntary" restructuring should be an interesting sight

Sun, 05/09/2010 - 12:27 | 339314 The Patagonian
The Patagonian's picture

A lot.  SPD was steadily gaining in the polls during the bailout talks and once it went to the Bundestag on Friday, the SPD abstained from the vote (which gave them a big weekend boost in the polls), Die Linke voted no, and the Greens - well the Greens voted yes and the SPD in NRW will almost certainly have to form a state coalition with the Greens and probably Die Linke for a Red-Green coalition.

Doesn't change much in the Bundestag (lower house) but changes the Bundesrat (upper house) at the federal level.

But, it is clear this was the electorate speaking on how they felt about the bailouts

Sun, 05/09/2010 - 12:33 | 339330 Handle with care
Handle with care's picture

Thanks for that.

 

So presumably politicians will all start becoming anti-bailout to save their own political careers, making bailouts less likely, and certainly less generous than the markets had been predicting?

 

Also seems like the German people may have reached the limits to how much they're willing to subsidise the rest of Europe due to war guilt.  The Greek mention of Nazi thefts in the past would have shut up the Germans and had them pay.  Seemed to have no effect this time.

Sun, 05/09/2010 - 12:52 | 339362 The Patagonian
The Patagonian's picture

We'll see about the politicians.  I've been here for six years now and there certainly seems to be some conflicting motivations in the German perspective.  1. Is the innate fear of hyper-inflation, for good reason, which accounts for the German fiscal discipline.  2.  Is the innate fear of another european war engulfing the continent, which is why the Germans drove the European Union project for so many years, with the EMU as the glue that holds it together.

Now those two very strong traits are in direct conflict with each other and if one prevails then the other is destroyed, from what it seems like at the moment.

I am of the opinion that fiscal discipline will eventually prevail.  Lot's of German acquaintances consider themselves European rather than German and nationalism is still a dirty word.  But that began to subtly change with the 2002 World Cup and suddenly it was ok to be German again.  It was ok to fly German flags (at the World Cup, any other time and patriotism is still considered distasteful).  Before that, they might have gone with the EU proposition and supported bailouts, but today it is a little different.  Which is why the low blow Greek accusations, which may have before worked as you said, now just serves to piss people off and bite the hand that feeds.

Sun, 05/09/2010 - 22:55 | 340466 Gunther
Gunther's picture

Nice description,Patagonian.

Mon, 05/10/2010 - 00:35 | 340570 Popo
Popo's picture

+1 Patagonian. Good insight.

Sun, 05/09/2010 - 13:54 | 339485 desgust
desgust's picture

Don't forget the zionist agenda! That's never enough!

And Ferkel-Merkel is their best friend, not the German people.

Sun, 05/09/2010 - 12:24 | 339303 Cheeky Bastard
Cheeky Bastard's picture

As weird as it might seem but what Merkl did was a kamikaze like move. She decided to go on with the Greek bailout and thus insure competitiveness for Germany's exports. She knew she was going to lose the election if she goes forth with with issue, but the did it anyways. I say kudos to her.

Sun, 05/09/2010 - 12:31 | 339326 THE DORK OF CORK
THE DORK OF CORK's picture

Export to whom - we have no more money for German gadgets.

Sun, 05/09/2010 - 12:40 | 339344 Cheeky Bastard
Cheeky Bastard's picture

Cars, industrial machinery, software, building equipment, building machinery. Remember China is still buying, but not from the US. And non EU members have a pretty viable economies [well some do cant say for others]. Im not afraid for Germany, not the least.

Sun, 05/09/2010 - 13:39 | 339393 THE DORK OF CORK
THE DORK OF CORK's picture

The German economy is a mirror image of the Pigs and others - it needs unsustainable consumption outside its borders to sustain its savings rate.

There has been massive expenditure on plants designed to service those fat pigs - also its local banks are not recognizing their huge loses . When or if interest income from the peripherie drys up it will bring to a end the noughties Teutonic monster surplus.

 

 

 

Sun, 05/09/2010 - 13:06 | 339401 kaiten
kaiten's picture

That´s all nice and well, but EU buys 63% of german export and Europe 75%.

 

http://www.destatis.de/jetspeed/portal/cms/Sites/destatis/Internet/EN/Na...

Sun, 05/09/2010 - 14:39 | 339552 Augustus
Augustus's picture

Exports that are never paid for, except with worthless paper?  That keeps the Germans wealthy?

Can I buy your car, give you a note for the balance, and make you rich when I default.  Beemer Please.

Sun, 05/09/2010 - 15:03 | 339588 Cheeky Bastard
Cheeky Bastard's picture

Sorry sold my cars months ago.

Also never have i driven a BMW and never will. Only AMG.

Sun, 05/09/2010 - 22:20 | 340437 laughing_swordfish
laughing_swordfish's picture

Kudos to you, Cheeky.

Although some 70% of German exports go to other EU member states, Germany in fact has trade relations with 145 nations - and the dimunition of the Euro will only improve their competitiveness.

If the other Euro economies deteriorate, the drop in the Euro will more than recompensate Deutschland

BRIC countries being the new wave? I think not. Watch germany - carefully.

 

 

Sun, 05/09/2010 - 12:37 | 339335 glenlloyd
glenlloyd's picture

I agree with you CB, it was a ballsy move on her part, I guess we'll have to believe that her motive was the same.

The one part of this that I have trouble digesting is that even if she sacrificed herself in the name of exports she has to know that the ship is going down.

Sun, 05/09/2010 - 12:43 | 339351 Cheeky Bastard
Cheeky Bastard's picture

Never suppose that knowing what is right equals with seeing the future. Germany is a fortress much like America and it will survive anything you throw at her. As for Merkl, well she is the part of the system and thinks like the system, but that does not mean that she does not know what is good for the country in the next 2-3 years.

Sun, 05/09/2010 - 13:11 | 339413 cossack55
cossack55's picture

Konigsberg no longer exists.

Sun, 05/09/2010 - 14:43 | 339560 mephisto
mephisto's picture

Shame, that was a nice beer.

Sun, 05/09/2010 - 12:46 | 339355 Popo
Popo's picture

Oh please. Merkel bailed out the German banks and ignored her voters.

I say bollocks to her.

Sun, 05/09/2010 - 13:46 | 339472 desgust
desgust's picture

We say shit to her, our Monster-Ferkel (pig)!

I watch no TV - too busy with ZH - but now I hear radio. ALL LIES!!!!

They don't mention even Schäuble!

Sun, 05/09/2010 - 16:07 | 339659 QQQBall
QQQBall's picture

+1 Popo.

 

What was she going to do - reverse herself at the last minute & start contradicting her policies? She was pot comitted a long time ago...Trying to paint Merkel as a martyr is st00pid.

 

 

Sun, 05/09/2010 - 12:25 | 339306 Joe Sixpack
Joe Sixpack's picture

Ach du meine Gute! Dass ist schlect. Deutschers möchten nicht scheiss zu essen.

Sun, 05/09/2010 - 12:30 | 339322 Cheeky Bastard
Cheeky Bastard's picture

Your Deutsch is a bit broken [well alot] but funny as hell.

+100000. 

HA HA HA HA

I can imagine Her Flick from Alo Alo saying that line. 

Sun, 05/09/2010 - 12:34 | 339332 williambanzai7
williambanzai7's picture

Thursday was a two cow rodeo compared to what is going to happen this week.

Sun, 05/09/2010 - 12:36 | 339334 pigpen
pigpen's picture

Brian Williams on Letterman - dirty secret the world has no money - what do proles do when they recognize this ugly fact?

http://www.youtube.com/watch?v=SRNrl-858qA&feature=player_embedded

Sun, 05/09/2010 - 14:34 | 339540 Pure Evil
Pure Evil's picture

What a shill!

Trying to make himself look relevant in a world that now contains Zero Hedge. Hey Brian, here's a news flash, it takes more than fifteen minutes on the Dave Letterman Show and a lifetime of sucking up to management to accomplish that.

From the video its apparent that he knows how to read a basic stock chart and can at least count up to a thousand.

But, will he or his masters over at GE or NBC News be starting and broadcasting any in depth reports on the financial chicanery of the Wall Street kleptocrats? Or provide in depth coverage as to why we need to audit the Federal Reserve and the roles played by Greenspan in the lead up to the great meltdown, much less cover the machinations behind the political iron curtain when it comes to the current set of corrupt public servants at Treasury/Federal Reserve and in the Obama White House Cabinet?

Will Brian Williams or NBC News even remember this two weeks from now?

About the only thing he accomplished was that he gave the apperance that he understood what was happening in front of the NYC ultra left-wing liberal morons that haunt the Dave Letterman show and hang on his every word as if he were Jesus Christ.

I suspect a few of the clowns in the audience will migrate to and watch NBC News with Brian Williams in the hopes that the great elucidator will enlighten them on exactly what happend Thursday May 6, 2010 over the next few weeks.

My guess is they will be severly disappointed.

The world is out of money, hogwash!

Why else did the market bounce back when the PPT stepped in and provided the necessary liquidity. If the world was out of money (fiat), then the market should have tanked and not stopped until a singularity was created and sucked all of creation in with it.

More disinformation for the peons to bounce around inside their little pea brains until it becomes accepted fact.

http://www.financialsense.com/stormwatch/geo/pastanalysis/2010/0507.html

Sun, 05/09/2010 - 12:38 | 339337 Comrade de Chaos
Comrade de Chaos's picture

She is by far the smartest and most capable western world high ranking politician, period. (Exempt her Cali counterpart governator ______ kidding.)

Sun, 05/09/2010 - 12:40 | 339343 Dapper Dan
Dapper Dan's picture

Alles hat ein ende,  nur die wurst hat zwei!!

Sun, 05/09/2010 - 14:43 | 339561 merehuman
merehuman's picture

everything ends.

Sun, 05/09/2010 - 12:46 | 339357 lawton
lawton's picture

Germany will probably take a hit on exports some in Europe when the Euro is gone since their stuff will then become quite a bit more expensive.

Sun, 05/09/2010 - 12:48 | 339360 Atomizer
Atomizer's picture

Angela Jerkel wasn't able to convince the peasants that fleecing is all apart of the whole game.

Coughs

Sun, 05/09/2010 - 23:35 | 340520 Bringin It
Bringin It's picture

++ I hope so.  That's my Hopium.  I hope the Greeks default - go back to the drachma and live happily ever after.  I hope the Banksters around the world are forced to recognize their true insolvencies and the world becomes a more peaceful, freer place.

 

Yes there will be a lot of impovrishment, but it's coming no matter what and you really don't need all that crap you buy anyways.  Time for a good Thereaux quote.

 

 

Sun, 05/09/2010 - 12:47 | 339361 JR
JR's picture

Merkel was walking a tight rope between the European banks and the people of Germany.  She tried to have it both ways, but the people of Germany wanted it one way. The Faustian bargain with the Devil, the IMF,  hold the Eurozone together and benefit the future plans of the central bankers was a sellout of the citizens of Europe.  Regardless of her earlier resistance, Merkel was part of the sellout.

In Utah, Romney came to the Republican Convention to introduce Senator Bob Bennett who voted for TARP and give him his support as the Republican candidate for primary, hoping to walk the tightrope for his repeated presidential candidacy. Like the Germans, the Utah people did not want it both ways and Bennett is out of the primary race.

Ron Paul wanted Bernie Sanders to stick to a yes or no vote on the Audit the Fed Amendment but the Senator, purchased by the banks, wanted to have it both ways.  And both ways, as in the Eurozone bailout, turns out to be the banker way.

And so, with the Bernie Sanders last minute bait-and-switch amendment to “audit” the Fed, the Fed power remains.  But as the Fed opaque corruption continues, the onslaught from the people is rising.  The “great unwashed” are at the gates.

Rep. Ron Paul is running against the bank monopoly. There has never been a statesman such as Ron Paul since the Founders, someone who can explain the details of the issues to the people and have the emotion and the conviction…and the belief.  And he’s a moral man, unlike so many past and present political leaders; and that’s why he compares to the Founders.  Because of Ron Paul and Zero Hedge et al., the central bankers may not be afraid of the Congress and the “president” but they have cause to be afraid… of the people.

Representative Ron Paul on Socialist Senator Sanders’ Sellout to the ‘Fed”

Thursday night statement before the vote (video excerpts):

I’m not a bit surprise that the Federal Reserve got to the Senate …

At the last minute (Sanders) switched it and watered it down (the Senate version of the House Audit the Fed amendment) and, really, (Sander’s bait and switch bill 604) adds nothing; there’s a possibility that it even makes current conditions worse…

This is so disappointing…I’ve worked for months with Bernie on this.   We don’t want this (Bernie’s) version… We need to know what the Open Market Committee does, we need to know what [the Fed] is doing overseas with the agreements with central banks and financial institutions and over governments… this bill (604) does not include this…

It shows what kind of forces we’re up against… The President doesn’t want this (the House 1207 audit version)… the leadership on Wall Street doesn’t want it, the Federal Reserve doesn’t want it.  They’re powerful forces.   But just think of all the people who do want it…from progressives and liberal Democrats, to libertarians and Constitutionalists, the average person and so many of the tea party members…they all want to find out what’s going on at the Fed…

http://www.youtube.com/watch?v=7II2diHymv4&feature=player_embedded#

Sun, 05/09/2010 - 12:50 | 339365 Mitchman
Mitchman's picture

+1.  Great post.  Thank you.

Sun, 05/09/2010 - 16:12 | 339666 QQQBall
QQQBall's picture

Let's hope Bennett called his "Gambler's Anonymous" Sponsor" - SLC is dangerously close to Elko, NV casinos. What a hoot, the best the 'pubs can muster is a compulsive gambler... that may qualify him to head the FED, but not the White House :)

Sun, 05/09/2010 - 16:35 | 339706 jm
jm's picture

Don't everything about Ron Paul, but hope he's not another Andrew Jackson. That guy looks pretty good now because he dismantled the financial system of his time, but he was a psychopath to native americans. 

I don't want to be on the receiving end of crazy from either side of the spectrum.

Sun, 05/09/2010 - 12:49 | 339363 Gold Hedger
Gold Hedger's picture

Didn't Merkel put Europe in one hand and Germany in another, then the German people put Europe in one hand and Germany in another, the people won?

Sun, 05/09/2010 - 12:53 | 339368 lawton
lawton's picture

" Our correspondent says local councils in NRW are sinking into debt, with rising kindergarten fees, and libraries and swimming-pools closing. She adds that in Wuppertal, even the theatre is under threat."

 

First I heard Germany had bankrupt towns just like here in the U.S.

Sun, 05/09/2010 - 13:54 | 339484 sunbringer
sunbringer's picture

Some of them lost their shirts due to swaps that were being peddled by Deutsche Bank et. al. Cities are not fixing potholes, closing public swimming pools and increasing all kinds of fees. It is not pretty. 

Sun, 05/09/2010 - 16:19 | 339680 A Man without Q...
A Man without Qualities's picture

Yes, DB was the top dog in this market.  They were selling unbelievably risky swaps with huge amounts of embedded volatility to all sorts of sleepy local authorities.  Because these guys were so unsophisticated, they only worried about the accrual of the swaps, which gave a positive cash flow.  As the markets got nastier in 2007, and they realized they may start paying out on the swaps, tried to terminate the swaps and were shocked to find that the termination fee was in some cases more than 50% of notional.  I got involved in trying to restructure some of these deals and the one thing I could not understand was why the fuck they had done them in the first place.  I think it was a combination of corruption and stupidity.  What's clear though is banksters are the same all over the world and they don't give a shit if some small town has to cut public services.  Think about it, a banker does a 100m Euro swap, makes 1% for the bank, i.e. 1m, then gets paid maybe 2% bonus for thus, i.e. 20,000 Euros and the poor little town ends up losing 50mm on the trade so closes all swimming pools, cuts the cost of the food served in schools, won't pay for new text books etc etc, and the banker can buy himself a slightly better Porsche.   

Sun, 05/09/2010 - 16:44 | 339719 jm
jm's picture

I presume "this market" means Germany. 

Every country has their own home-grown psychos that used political patronage as cover to screw the citizenry.

It seems that good ol' Goldman was able to screw these bastards too.

Sun, 05/09/2010 - 13:32 | 339450 ExistentialSkeptic
ExistentialSkeptic's picture

Could you PLEASE not post this on absolutely EVERY thread?

Sun, 05/09/2010 - 16:13 | 339667 perchprism
perchprism's picture

 

Upload this, dickhead!

Sun, 05/09/2010 - 12:56 | 339374 Kayman
Kayman's picture

I wonder if our political elite, will get the message.  When the people get to vote it will be a blood bath for both of our bought and paid for parties.  The Remocrats and the Depublicans.

With the majority of Senators and Congressman using and abusing their elected office, it is time to bust up the TOO BIG TO EXIST and the TOO CROOKED TO GOVERN.

 

p.s. if Germany is supposed to carry the can for Hitlers crimes, when will France and Russia atone for Napoleon and Stalin ??

Sun, 05/09/2010 - 13:02 | 339390 JR
JR's picture

+1. And America for Trotsky aka Bronstein?

Sun, 05/09/2010 - 14:40 | 339554 Pure Evil
Pure Evil's picture

Come again, how is America responsible for Trotsky?

Sun, 05/09/2010 - 15:08 | 339591 Cheeky Bastard
Cheeky Bastard's picture

http://www.reformation.org/wall-st-bolshevik-rev.html

http://www.scribd.com/doc/21459073/Sutton-Wall-Street-and-the-Bolshevik-Revolution-1974

Here ya go, all documented.

PS. If you have the time take a closer look into Rothschild interests in Chechen, Kyrgyz and Siberian oil fields and what happened when the monarchy got thrown down in 1917. Hint; not nationalization.   

Sun, 05/09/2010 - 17:04 | 339765 EscapeKey
EscapeKey's picture

Oh yeah, Trotsky was TOTALLY a Wall St agent.

That is the stupidest thing I've ever read.

Sun, 05/09/2010 - 13:16 | 339419 cossack55
cossack55's picture

We are too busy attoning for and being guilt ridden by , and reminded of daily from the MSM of our slavery and Indian killing past, especially using 6 shooters that held 127 rounds  cylinder.

Sun, 05/09/2010 - 22:24 | 340442 hedgeless_horseman
hedgeless_horseman's picture

Should we busy ourselves now by preparing for a future of slavery and killing chi.coms and Latino.socs with vulcan 30mm gatlins?

Sun, 05/09/2010 - 13:36 | 339456 Dirtt
Dirtt's picture

Nice.  But this is not the "truth meter" POTUS 44 is talking about.  Back to indoctrination camp for you.

Sun, 05/09/2010 - 21:07 | 340317 Bringin It
Bringin It's picture

When the people get to vote it will be a blood bath for both of our bought and paid for parties.

Of course I would love to believe, but I don't.  Not yet anyways.  In Massachusetts, Utah, Arizona, from what I can see the alternatives are mostly more of the same in that they all like, condone, rationalize the role, greater glory and most likely kick-back potential of the MIC.

All exhibit the bomb first and ask questions later mentality.  IS there some kind of yes-I-will-bomb litmus test these guys have to take before they can appear on the national scene?

I don't think this is what the Founding Fathers had in mind.  I prefer Ron Paul.  I was going to say 'how do we clone Ron Paul?'  But then I remembered, the closest thing we have to that is his son in Kentucky, who's ... all for the GWOT. 

I've got news for all these armchair gun-slingers.  The enemy is on Wall Street.  The enemy owns DC.  Act accordingly.

Sun, 05/09/2010 - 12:59 | 339385 Duude
Duude's picture

As if Germany's other political parties would block bail outs if they had power.  This is all about playing up to the German public for votes. Their other course is let Greece rely on private lenders at 15% rates which will surely result in Greece defaulting on all of their outstanding debt and plenty of German and other foreign banks taking the loss.

Sun, 05/09/2010 - 16:14 | 339669 QQQBall
QQQBall's picture

Yup, instead of letting Greece default, it is much better to give them even more loans...  earth to duude - the money is already lost, no need to double or triple down.

Sun, 05/09/2010 - 21:14 | 340334 Bringin It
Bringin It's picture

the money is already lost - Yeah well lucky for the Bankster, some poor fools haven't quite figured that out yet.  They can use more time to further mitigate their collapsing ponzi positions. 

It is the duty of the global public to make all bankster whole.  Always.  Everywhere.

Sun, 05/09/2010 - 17:07 | 339773 Duuude
Duuude's picture

WTF? I got me an almost doppelganger.

Sun, 05/09/2010 - 13:03 | 339394 johngaltfla
johngaltfla's picture

Eurofuck.

 

That should just about be the end of that. Got Deutschemarks?

Sun, 05/09/2010 - 13:06 | 339402 Captain Willard
Captain Willard's picture

She is far from finished. It is obviously going to take the consensus of a big coalition for the Germans to move forward on the major Euro bailout to come.

This "defeat", if you want to call it that, will force her critics to put forth their own ideas on the bailout. Fritz Sixpack may not want to rescue Greece, but he doesn't want to lose his export-related job either if the Euro collapses and he ends up with an over-valued Deutschmark. The Euro monster was created for Fritz; now he's stuck with it.

This is a slow-moving trainwreck. It will take all summer to play out.

Sun, 05/09/2010 - 13:24 | 339436 Headbanger
Headbanger's picture

That does it. Huge gap down in U.S. markets at the open.

Sun, 05/09/2010 - 13:29 | 339445 johngaltfla
johngaltfla's picture

I wouldn't count on it but if the EURIBOR and LIBOR reset as high as I think they might in the morning (up 5 bps or more) all kinds of fecal matter will hit the fan.

Sun, 05/09/2010 - 14:14 | 339519 sushi
sushi's picture

Anybody seen Harry? Monday should be a great entry point for AAPL.

Sun, 05/09/2010 - 14:48 | 339567 merehuman
merehuman's picture

LOL Thanks  sushi

Sun, 05/09/2010 - 16:46 | 339660 Village Idiot
Village Idiot's picture

 

merehuman - I happened to catch a few of your most recent posts - and assumed that you got the message.  And then I ran across this one -  

by merehuman
on Sat, 05/08/2010 - 23:36
#338801

 

WaterWings, thats why i am being quiet from now on. Learned a hard lesson about context and how easy it is to be misunderstood. Reckon this is my last sound off to let you know why. Subleties get missed. Village Idiot made me to look like a hater and i am certainly not one. I am back to being a lurker.Bye

 

 

MH, please explain the - "context" and "Subleties" - in your previous post - to those who might be interested:

by merehuman
on Sun, 05/02/2010 - 18:38
#328493

cbaba, you got junked twice already just for mentioning JEWS.

Jews. JEWS JEWS jews and more JEWS.

OK  now junk me to too you ignorant fuck.  The truth is what it is.


by cbaba
on Sun, 05/02/2010 - 19:03
#328527

call the megaphone and add more junks,i dont care, it doesnt change the truth ignorant fuck and douche with your mother bag VI.

 


by merehuman
on Sun, 05/02/2010 - 19:16
#328556

less than 5 minutes since i used the miracle word JEW. I already have one junk. Thank you. It feels good to be noticed.

BTW chaba.  It wasnt I that junked you. Anytime i point out how the seats of power in our government is predominantly jewish i get a lot of junks. The truth is what it is.

If all those Jews wore armbands, we would see how they control our society. Perhaps thats why Hitler had them wearing armbands. And yes, truhout the course of my long life i have met, done business with and loved many Jewish people along the way. I do not hate or even dislike Jews. They are people like all others. Still, the fact remains that they hold many powerful seats.

If all those same seats were held by, say Chinese, there would be a hell of an outcry ? would there not?

 

Please, MH, let those of us who don't grasp your meaning know what you are trying to say here? 

 

 

 

 

 

Sun, 05/09/2010 - 19:33 | 340139 Nikki
Nikki's picture

I try to make this point myself using Chinese as the example and I'm quite sure it makes me appear both mad and a hater. I know what I am, curious and skeptical.

I believe Celente posted a list of notables in government agencies that are currently occupied by people of the Jewish faith and replaced them with Soprano names.

It may well be that the best and brightest are Jewish and the cabal talk is all hogwash. It may also be true that if it walks like a duck and quacks like a duck, that it is a duck no matter how bad you feel about the holocaust.

The rumoured next Scotus pick is Jewish, not Chinese by the way.

Junk if you like, but at least look at the list and ponder, why ?.

Nefarious or glorious ?.

Sun, 05/09/2010 - 20:29 | 340247 merehuman
merehuman's picture

thank you Nikki. Glad somebody has a working brain.

Sun, 05/09/2010 - 19:59 | 340197 merehuman
merehuman's picture

Glad to . If my entire oregon ........ city council were comprised of irish or germans   i would ask questions then also. Further i am saying anytime the word jew comes up in anybodys post , its immediately junked.

There is a very strong bias in place. At a minimum i and many an americam may feel unrepresented in the seats of power of SUPPOSEDLY OUR country. Who really rules is my question. One gets the sense the real rulers may be in israel.

What really matters here is freedom of speech. The other thing i resent is you war wth me and your attempts to paint me as a jew hater. I started learning about politics and finance a little less than a year ago. I do not claim to know much , but i am inquiring . All you are doing is pissing me off by and by. You dont know squat about me and would be wise for your own karma to desist from attacking further.

many others are reading this and i am sure some are smarter than you or i and will figure for themselves what reality is. I think you and i both assume too much.

PS Until this morning i had not read or heard one thing Hitler said. So am i on my way to being a racist?

 

Sun, 05/09/2010 - 23:57 | 340492 Village Idiot
Village Idiot's picture
The message -  by merehuman
on Thu, 05/06/2010 - 19:01
#336074

 

village idiot , you have succeeded in stopping any further posts from me.

Its pointless anyway and i have better things to do. You actually did me a favor.


by Village Idiot
on Thu, 05/06/2010 - 19:07
#336092

Reincarnate.  And next time - hold it with the stuff that has no place on ZH (or, anywhere for that matter).  Godspeed.

 

Personally, I think my response was pretty reasonable.

You know what's funny, MH? I originally came to your aid because you were being picked on by other posters for some Mt. Everest sized hole under the seabed/bad spelling piece you posted (paraphrasing their words, not mine). The next time I run in to one of your posts, you are posting little pearls like, "If all those Jews wore armbands, we would see how they control our society. Perhaps thats why Hitler had them wearing armbands."

Since our little run-in with each other, I have watched you bounce around the site, garnering sympathy, threatening to leave, ad infinitum.  The advice from some of the true teachers, and other thoughtful individuals was the same - sit back, read, and when you are ready to come back, choose another avatar - reincarnate!

you appear to be young, with a strong need to fit in - that's fine.  But respect what this site is really about.  And most of all, choose your words thoughtfully - there are  many people on this site that just naturally take "things" a number of ways.  That is a sign of intelligence.  I don't think we need to ad anything else to this conversation - there is a lot more interesting stuff being thrown up here than you and I can really add to. 

 

 

Mon, 05/10/2010 - 00:45 | 340574 merehuman
merehuman's picture

you have done a great job running me down. Hounded by you day after day is getting tiring.  You are right about choosing words thoughtfully. 

 

Sun, 05/09/2010 - 20:32 | 340257 merehuman
merehuman's picture

Village Idiot, pardon my slowness, but what do you mean by "assumed you got the messege"

What messege, can you be more clear? Please?

Sun, 05/09/2010 - 23:18 | 340494 Village Idiot
Village Idiot's picture

MH, see above...

Sun, 05/09/2010 - 16:46 | 339723 JR
JR's picture

merehuman... I’m glad you’re back, man!

Sun, 05/09/2010 - 16:54 | 339743 Village Idiot
Village Idiot's picture

JR - just curious, are you signaling merehuman with a sign of solidarity?

Sun, 05/09/2010 - 21:43 | 340377 Bringin It
Bringin It's picture

You're not the village idiot.  You're the thought police.  Brow beating has a shelf life.  Good luck with that.

 

I'll tell you a story.  Back in the 90's, one of my brothers married a woman of the tribe.  One day, the new father-in-law told my brother, 'You're in now and can't get out.  When it happens again here, they'll take you too.'

 

I couldn't imagine what all that was supposed to mean.  Now I do.  I hope we can collectively [collectively - that means you too V-Idiot.  You have to do your part.] turn this around, but with history as a guide, it doesn't look promising. 

All the American sheeples got seduced by the never-ending gravy-train.  For the Zion-philes it was their own hypnotic version of the Ride of the Valkyries that they could not put down.

 

And in anticipation of the inevitable smear - no V-Idiot I don't hate anybody. 

 

Hang in there MereHuman.  Keep calling a spade a spade when you see it. 

Sun, 05/09/2010 - 22:16 | 340422 Renfield
Renfield's picture

Bringin It I'm with you.

I have no idea whether I agree with merehuman or not - haven't really looked at the racial/cultural makeup of the decision-makers. Honestly I don't care what race/culture they're from - I don't identify with any race or culture b/c to me they're all equally guilty. Let each individual pay for their own mistakes.

Having said that - Village Idiot if you disagree with merehuman, then DISPROVE what he said. Use numbers, facts, figures.

If you're merely offended, then I'd suggest a thicker skin. I'm offended on a daily basis by one comment or another here - for example there's some guy with an avatar that consists of nothing but a big vagina stuck in the camera. As a woman I'm offended beyond belief by that jerk's disrespect - but you know? I come here for information, not to feel good...I'll still listen to what he says, and learn from it IF it's of value, even though I certainly won't be recommending any of my attractive & successful single friends to date such an ass.

Don't like it? Disprove it. Then it'll go away for good.

Mon, 05/10/2010 - 00:55 | 340577 merehuman
merehuman's picture

Village Idiot is correct about one thing. Altho i could blame it on 8th grade education, still i could have been more responsible with my words. i did get hot under the collar about the barrage of junks on some very good articles and learned a lesson.

Thank you all for your enduring patience and support 

We will now resume regular programming, next disaster please!

Sun, 05/09/2010 - 20:24 | 340240 merehuman
merehuman's picture

Thank you. This whole thing has been taken out of context and personalized and caused me to rethink my visits here.

But i realize the most important thing to me bejond all else is the truth.

My original anger was at the fact that the mere mention of the word>>> would be followed by bashers.

But in the back of my mind is the awareness of so many .... in seats of power. I am also (today ) looking at european history and how many countries felt the need to kick .... out and WHY.

I am still a vegetable growing, pot smoking, better half lovin dumshit who dont know when to keep his mouth shut. And for the record since the age of 23 have recognized we are all one family and live that way.

I am the guy picking up the hichhiker, cause i been one.

I have 15 dollars in the bank , a dead business and a dying better half 30 years my senior. She was a friend to me once and i am repaying that with 11 years of devotion. As i sit here and type i listen to her breathing in the next room. I also hear the high pitch of the sound current, the creative force of the material universe and 2 of our 3 dogs snore beside me.

I passed out several more silver ozs to perfect strangers once again. better them than the irs .

I  have lived a rich and varied life, high and low. I have been a vagrant, bum  hobo, twice a car thief, army private 3 times, during the same tour of duty, got out and been good ever since. I share , care and give a damn and willing to die for the truth if i must .

sorry i talk too much.

 

 

 

Sun, 05/09/2010 - 22:09 | 340420 merehuman
merehuman's picture

JR , Thank you , i was feeling a bit alone out here.

Sun, 05/09/2010 - 22:51 | 340463 JR
JR's picture

The truth is heroric.  In my book, merehuman, you are a courageous and compassionate American in search of truth.  And, fortunately for America and most of us here, the Zero Hedge quest is for truth. 

If you shut up truth and bury it under the ground, it will but grow, and gather to itself such explosive power that the day it bursts through it will blow up everything in its way. – Emile Zola (1840-1902)

 

Sun, 05/09/2010 - 23:43 | 340516 Village Idiot
Village Idiot's picture

Thought Police? Heroic? OK. Save it for the bad guys - I'm not one of them.

Sun, 05/09/2010 - 23:56 | 340537 Bringin It
Bringin It's picture

VI - you edited your post.  Before you changed it, you said 'You guys need to take a break'.

Why did you edit out 'take a break'?  Are you alluding to this?  Having flashbacks?

http://botlbrush.com/blog/?p=1164

I'm not one of them.?!?

 

 

Mon, 05/10/2010 - 00:03 | 340540 Village Idiot
Village Idiot's picture

yeah, I edited - the original comment I made to you and others was a dig.  I'd rather pass along something constructive.  You obviously care for the guy - that's great.

 

 

Mon, 05/10/2010 - 00:05 | 340542 Village Idiot
Village Idiot's picture

"I'm not one of them." Most on this site are about collectively going afetr the truth, and the bad guy.  I'm not him, hence waste of your time.

Mon, 05/10/2010 - 01:06 | 340586 merehuman
merehuman's picture

USS LIBERTY getting napalmed  meant a lot to me. Having been a soldier i will always have empathy with other soldiers. Adding up things as i learn them.  That link aint helping me like Israelis any better.

Mon, 05/10/2010 - 04:05 | 340664 Bringin It
Bringin It's picture

Means a lot to me too Bro.  Who would/could junk that?  VI why don't you explain your issues with calling out the USS Liberty?

Mon, 05/10/2010 - 10:50 | 341217 Village Idiot
Village Idiot's picture

Bringin it - what is your malfunction? You shooting your mouth off about the "IDF" "USS Liberty" is making you look like a fringe nut case. WTF are you blathering about?  Go find something else to entertain yourself - like a life, dude.  BTW - anyone who reads a post can junk it. You just learned something.

Sun, 05/09/2010 - 17:06 | 339770 EscapeKey
EscapeKey's picture

It's funny how paper bugs and perma bulls disappear when they're wrong.

Sun, 05/09/2010 - 21:20 | 340348 Bringin It
Bringin It's picture

Nikkei is up about 1% - so I don't know.  I'm hoping for a pop so I can get out of mining stocks I've had since Nov. 09 - Booyah.  [ Is that what Cramer says? 'Booyah'?  I don't know, I never watch TV.]

[Full disclosure - Some streaming footy.  Does that count?]

Sun, 05/09/2010 - 13:25 | 339438 Rider
Rider's picture

+10

Sun, 05/09/2010 - 14:36 | 339549 reload
reload's picture

Well that is a relief - but no way could Alastair Darling (who has no mandate from the UK electorate) sign us up to backstop any part of a rescue with `guarantees` - we are broke ouselves. What comfort would our guarantee have been anyway? Enough is enough - no more bailouts.   

Sun, 05/09/2010 - 13:18 | 339425 cossack55
cossack55's picture

When, exactly, do the Asian markets open?

Sun, 05/09/2010 - 14:49 | 339571 merehuman
merehuman's picture

3 pm pacific time

Sun, 05/09/2010 - 13:20 | 339430 Rider
Rider's picture

F@#k Yeah!!!

No more giving away other's people money Merkel!! 

FOR THAT IS THE USA!!

RESCUE GREECE BEN !!!

 

Sun, 05/09/2010 - 13:23 | 339435 WineSorbet
WineSorbet's picture

And while we watch Europe crumble, our shores are being destroyed by big oil.  Eh, who cares right?  Food is so overrated these days.

Sun, 05/09/2010 - 13:25 | 339437 Rogerwilco
Rogerwilco's picture

Ein reich, ein volk, ein ???

How does that go?

Sun, 05/09/2010 - 13:48 | 339476 Uncle Remus
Uncle Remus's picture

Ein Volk, ein Reich, ein Führer.

The hills are alive with the sound of music.

http://ingeb.org/Lieder/deutschl.html

Heil.

Sun, 05/09/2010 - 16:11 | 339664 Kayman
Kayman's picture

Schiessen !!

Ein Volk, ein Reich, ein Stein.  Habben zie ein bier....

Dummkopf 

Mon, 05/10/2010 - 13:36 | 341610 Uncle Remus
Uncle Remus's picture

Got Putsch?

Sun, 05/09/2010 - 13:32 | 339451 Headbanger
Headbanger's picture

Geld allein macht nicht glucklich.

http://www.youtube.com/watch?v=Ey7AhJ3dBTU

Sun, 05/09/2010 - 13:36 | 339457 pak
pak's picture

CDU, SPD, Green, FDP, Left - all these guys are just irrelevant.

They will keep abusing their fellow Germans for the sake of "Europe". Then, one day, someone like NPD will come to power.. oops!

Sun, 05/09/2010 - 13:44 | 339459 wang
wang's picture

 duplicate

Sun, 05/09/2010 - 13:42 | 339465 Jim Billy Bob J...
Jim Billy Bob James IV's picture

Is it unrealistic to think that the European theater is could easily change from economic to political?  The drama of Europe seems to be setting the stage for political collapse as well as economic.  Europe has always been the staging ground for something larger to happen in the past.

Sun, 05/09/2010 - 13:43 | 339466 Mitchman
Mitchman's picture

The situation is going from bad to wurst! 

Sun, 05/09/2010 - 14:00 | 339493 Village Idiot
Village Idiot's picture

Definitely the wurst I've seen it.

Sun, 05/09/2010 - 15:14 | 339597 Mitchman
Mitchman's picture

+10 to both!

Sun, 05/09/2010 - 14:49 | 339570 tmosley
tmosley's picture

As a PM-bug, I love wurst, especially bratwurst.  That's when things are bad, so the government leaders act like children and make the situation even wurst than it already was.

Sun, 05/09/2010 - 13:45 | 339468 Manipulism
Manipulism's picture

"German Chancellor Angela Merkel accused the financial industry of playing dirty. 'First the banks failed, forcing states to carry out rescue operations. They plunged the global economy over the precipice and we had to launch recovery packages, which increased our debts, and now they are speculating against these debts. That is very treacherous,' she said. 'Governments must regain supremacy. It is a fight against the markets and I am determined to win this fight.'"

UK Telegraph

Sun, 05/09/2010 - 13:48 | 339474 Mitchman
Mitchman's picture

It's a fight against markets rigged by the very governments against whom the banksters have turned Angela, my dear Freulein.

Sun, 05/09/2010 - 14:47 | 339566 Pure Evil
Pure Evil's picture

It's not worth any tears. This is just the excuse they need to create an EU treasury aligned with the ECB and print money like the Dickens. Which of course is what they wanted all along so that they can keep the Euro.

It's one small step for Global Governance and one giant leap for Central Banks.

Sun, 05/09/2010 - 13:45 | 339469 exportbank
exportbank's picture

The Germans don't waste their political life fighting about abortion and guns - the German Volk is scared to death of the forces that work to push inflation. All major western countries have been sold (and eagerly bought) a bill of goods called debt. The invoice for that is now due and no nation or people can pay. In all things, Truth is your friend - if we face the truth we can work out the problems (no it won't be fun) if we won't then default and theft from every individual on the planet that was financially responsible is the outcome. The veneer of a peaceful society is very very thin.

Sun, 05/09/2010 - 13:54 | 339486 cossack55
cossack55's picture

This as a light sheen of oil floating on serene gulf waters.

 

Aye, Cap'n, looks like a blow ahead.

Sun, 05/09/2010 - 16:21 | 339683 Kayman
Kayman's picture

exportbank

1. you are absolutely right

2. Politicians cannot handle nor tell the truth

3. But fear not, the same leadership that has brought us an uncontrollable oil monster in the Gulf of Mexico, is in charge.... Emergency plan ?  Its being cobbled together right now, as quickly as we can wriggle about..... 

Sun, 05/09/2010 - 13:56 | 339487 scatterbrains
scatterbrains's picture

F*^@K!!!   short the hole at 6:00 tonight ? Who's gotta good plan for trying to ease up in some /ES shorts tonight ?

Sun, 05/09/2010 - 14:01 | 339496 Internet Tough Guy
Internet Tough Guy's picture

Gridlock in UK, gridlock in Germany. Gridlock uber alles.

Sun, 05/09/2010 - 14:05 | 339503 williambanzai7
Sun, 05/09/2010 - 14:06 | 339504 WineSorbet
WineSorbet's picture

Here comes the MSM to the rescue...From Yahoo

IMF board votes to approve $40 billion Greece loan

Sun, 05/09/2010 - 14:07 | 339505 E pluribus unum
E pluribus unum's picture

Fucking Bennie himself will be on the floor of the NYSE buying stock tomorrow

Sun, 05/09/2010 - 14:08 | 339506 UncleFurker
UncleFurker's picture

 

I blame the backrub.

 

 

Sun, 05/09/2010 - 14:12 | 339513 Gloomy
Gloomy's picture
‘It’s the beginning of the endgame for…’ Belgium?

File this on under Sovereign crisis –> eurozone –> the search for the next Greece.

Sharp-eyed readers may have noticed a little dig in Independent Strategy’s note on sovereign contagion. Belgium, it seems, could be next in line for the contagion treatment, according to the research house:

The countries in the ‘contagion area’ of the Eurozone (namely Spain, Portugal, Greece, Ireland and unexpectedly, Belgium) account for about one-fifth of Eurozone GDP.

In fact, Independent Strategy is advising its clients to basically short the country:

Investors need to take out some insurance against this crisis scenario. Belgium is one country that has stayed outside the fray. Its CDS premia and government bond yields have only just started to rise and even today are only slightly above long-term averages (Figure 5). It is as if most investors still think it’s a slightly second-class Germany.

Second-class Germany. Ouch.

Here are the details behind Independent Strategy’s thinking:

Yet Belgium is a mess. Its sovereign debt to GDP is 100%, up from a trough of 84% a few years ago, and its budget deficit is 5% of GDP. Belgium’s public debt is held abroad to the tune of 69% of GDP and its private sector foreign liabilities are another 162% of GDP, giving a total percentage of foreign credit dependence (charitably excluding inter-company borrowing) only surpassed by the UK and Ireland in the EU (where banks have huge FX liabilities) — see Figure 3. On these ratios, Belgium leaves the PIIGs at the starting block. And Belgium’s overall securitised debt burden (public and private) is only surpassed by that of Ireland (Figure 6).

To stabilise its public debt to GDP ratio, Belgium needs to run an annual primary surplus of 4% of GDP at today’s interest rates and would need an annual primary surplus of 5% if its bond yield rose to the same level as Spain’s. That compares with a current primary budget deficit of 1.3% of GDP.

And there is another special factor for Belgium. Political risks are high. There is no government, the last one having fallen on the usual linguistic sword a few weeks back, and no prospect of one for months. So far, markets, having little understanding of Belgium’s arcane and repetitive linguistic political crises, have cheerfully ignored this one too.

But this time, they are wrong. Unlike the Greeks, who seem to like being Greeks and being in Greece, Belgium is a country with a dearth of nationals proud to be Belgian and where growing swathes of the population want to be in another state of their own creation. This is not a good scenario for taking tough decisions on public debt at a national level and making the necessary political compromises (upon which, along with beer and chocolate, Belgium’s international reputation depends).

Every political crisis brings Belgium close to the cliff edge of being no more — at least as we now know it. It would be unwise to bet the house on this crisis being the ultimate one, but prudent to bet on it being the beginning of the endgame for Belgium.

Much more (again) in the full note, in the Long Room.

Sun, 05/09/2010 - 14:27 | 339543 jedwards
jedwards's picture

Just like Scott Brown in Mass caused a huge change in direction for the Democrats, this will make a huge change in how Germany behaves with respect to the Greek bailout.

No German politician will want to lose their job.  They will start moving against the bailouts, and listen to the will of the people.  

I can't imagine any situation where the EU and the euro will survive.

Sun, 05/09/2010 - 14:44 | 339562 reload
reload's picture

I hope you are right: The European Commission is totally corrupt and undemocratic. A collection of freeloading unaccountable self congradulatory scum bags.   

Sun, 05/09/2010 - 15:24 | 339603 Tripps
Tripps's picture

breaking news...this is not news. lol.

 

wow, people don't like bailouts...oh wait, merkel hates bailouts too. wait a second...who gives a crap

 

the real news is eurozone leaders about to blow out shorts

Sun, 05/09/2010 - 15:26 | 339605 Tripps
Tripps's picture

for those of you are are ignorant and stupid...merkel is anti-bailout. as ZH mention in his short intro, this more about all her policy handlings, not the greek bailout.

 

in fact, the polls indicate neutrality on that subject.

 

also, its not like merkel is losing all support...just a few areas in germany voting the other way. who cares...really. no one likes bailouts and policy around the world today...but doesn't mean you let the systems fail.

 

 

Sun, 05/09/2010 - 16:21 | 339684 JR
JR's picture

This today from Karl Denninger: KaBoom: Britain and Now Germany

Britain is refusing to underwrite the so-called "Euro Stability" fund:

But the loan guarantees are too much for the UK to swallow, and the Treasury will have nothing to do with them. Without them the package looks pretty thin.

It also appears that Merkel lost her majority in the German Parliamentary elections, which means her Greek bailout support has now cost her the coalition government she previously enjoyed.

That, in turn, means that it is very likely that Germany has provided the last support it is going to be "contributing" (more accurately, being extorted from German citizens at gunpoint) to Euro "stability" as well.

Here comes the fun folks, pretty much exactly as I expected.

Anyone want odds on the Germans returning to the Deutchemark?

To the banksters: Bonne chance.

http://market-ticker.denninger.net/

That said, I like Merkel; I just wish she had stuck to her guns in her earlier refusal of a German-led rescue of Greece’s ailing economy.  The good news, though, is the central bankers may be losing the Eurozone, part of the stairway to a single currency and global governance.

Sun, 05/09/2010 - 21:55 | 340398 Bringin It
Bringin It's picture

more accurately, being extorted from German citizens at gunpoint

 

Resist.

Sun, 05/09/2010 - 16:35 | 339707 Tripps
Tripps's picture

bottom line is we are getting solutions..buying time in #s so all countries can get their hous in order. i see nothing wrong with this.

 

its not exactly breaking news that lots of people all around the world dislike bailouts.

Sun, 05/09/2010 - 16:38 | 339713 Kayman
Kayman's picture

Sir/Madame Tripps:

From those of us who are are ignorant and stupid... Merkel introduced and passed legislation to bail out the non-industrious, profligate Greeks...

The one currency policy (the Euro) prevents Greece from devaluing its own currency against its European trading partners.  

Therefore somethings got to give- lending scarce money (Euros or USD) to a bankrupt nation or cut Greece loose.

Waddayathink... The "system" will remain intact ???

Just a dumb question.

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