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China Formally Working With IMF To Avoid Eurozone Restructuring
Step aside IMF, China is now in the driver's seat. Officially.
From Market News:
China doesn't want to see a eurozone debt restructuring and is making efforts with the International Monetary Fund and countries related to the sovereign crisis on avoiding it, a government researcher said Friday.
"China, the IMF and related countries are all making efforts...we don't want to see a debt restructuring," Qu Xing, director of the China Institute of International Studies, a Foreign Ministry think tank, told reporters at a briefing here Friday.
Will third time be the charm for the Chinese "white knight" approach to Europe, where it has so far sunk about $50 billion in bad money after good? Find out after the next imminent kneejerk spike in the EURUSD...
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Glad to see they're as incompetent as the rest of the Ivy League idiots.
Oh, they are far, F A R worse than people give them credit, they make monumental centralist screw-ups seem prosaic most of the time. Rarely do we see a country as determined to sabotage itself as Beijing is able to muster.
How many chinese does it take to bail out the pauper people's state of europe?
I am thinking, "Just one, but he has to be quite determined."
...obviously that ''one'' is not the second born.
could be if the first born was a girl.
edit: first pregnancy
Probably 1 chinaman has the work ethic combined with intelligence of 10 Classically educated Europeans.
http://www.washingtonpost.com/world/nato-runs-short-on-some-munitions-in-libya/2011/04/15/AF3O7ElD_story.html
I hate to use relative military aptitude as a gauge, but case in point: (European) NATO forces running out of munitions while fighting a 3rd world dictator in Lybia. Europe could not run a succesful mission against the civilian population of a typical flyover county in the USA. (urban or rural)
The chinese would have no such issues. Again, I abhor violence, but If I was sending one of my countrymen into battle, I would work 42 hours per week insted of 32 hours per week to make sure she/he had a full clip and canteen.
With respect to Libya, according to Gibbon inThe History of the Decline and Fall of the Roman Empire:
"Till the arrival of the Phoenician colonies, that fertile country was inhabited by the Libyans, the most savage of mankind".
The Afghans arent far behind. Family grudges are passed on for generations , literally 100s of years will one tribe feud with another for something a great great great grandaddy said about some other great great granddaddy one day in the opium fields.
When fighting is a way of life you become quite good at it. The Russians had no chance in that country and neither will the US. And when China try later this century to muscle in on that part of the World , they too will find out the hard way.
Oh and dont forget the Chechens. Theyd even outlive cockroaches in a war.
Allah sure has a knack of creating hard bastards.
Invading any country is a fool's game..
If the man doesn't getcha, the woman will, or the son, or the daughter, or the uncles, or even the family dog..
Shades of Vietnam...
True, a successful invasion must include a complete systematic eradication of the existing population. We only allow that if it is done from within.
The Afghan people, when apprised of the impending invasions: first by the Soviets and then by the Americans, the most powerful nations on Earth; fell to their knees toward the East raised their hands and as One praised Allah that their deepest wishes had been granted.
Because they knew they would break both of the *Great Powers*...and they have.
/lol/
Only because they beat the shit out of invaders.... "savage" was possibly an expression of a patriotic trait, incompatible with "empire" and "civilization"... Gibbon was writing as a Enlightenment historian, who felt that a new age of european civilization was in the making; with England's colonial age. "Savage" is a label that transmits a value system anchored in beliefs that "we" are "civilization". Dangerous territory...Rome was more savage than the savages. Ask the Italians; they refused to reunite for 14 centuries after its fall. Such was the recurrent trauma created by its iron fist that subjugated its neighboring Italian states.
Oh.. my. Right now, I'm working 50 hours+ per week just for the living.
had the same thought, my last full time job was 6 days a week 10 hours at least a day.. no overtime, but whatever, that's what you get for being a poor bastard.
The typical strategy, when removing the infrastructure and the population of a country which is at war with itself, is to gauge your efforts. Nato helps the freedom fighters and gives them a leg up then moves out to let Gaddafi's people regain ground. Both sides leave bodies on the street and infrastructure destroyed. Yugoslavia was played this way.
The prize is in the ground...oh sweet crude how I love thee.
Anyway NATO and its goons are doing OUR dirty work. Some speak out against it but they know, or should know, that this is to keep oil in our tanks, fertilizer on our crops and plastic stuff flowing.
OntheSquare
if you want oil and fertilizer for your crops why don't you just dig? The US has larger oil reserves than Saudi, just the most corrupt Govt in the world, Washington, won't let you exploit it. There's always a peaceable means to doing business, your cretins just can't see it
When something as valuable and ESSENTIAL as oil...is KNOWN to be in limited supply...it's wiser to use up someone else's supply first!
ibjamming - Oil is not in "limited supply" ...it is of infinite supply (for mans purposes/needs) about 1,000 years. Nor is Oil worth killng people for, there's other more peaceful means of business, for example buying it in the international markets.
Neither is it legal for murderous cowboys like the US loonatic elite (politicians and oil executives) to invade any other sovereign nation unless they are defending their own country. Vietnam, Iraq and Afghanistan have never threatened the US therefore successive US Govts should been tried in international court for war crimes including murder and the deaths of 100's of thousands of innocent civilians
Even if Oil was in limited supply it never justifies murder and mahem (international anarchy), there are other much more civil ways of conducting business
"... The US has larger oil reserves than Saudi"
Apparently, you are either unable to use Google, or unable to do arithmetic, or both.
http://en.wikipedia.org/wiki/Oil_reserves_in_the_United_States
In the unlikely event that you would want to understand exactly what the oil depletion problem is about, a numeric description is here:
http://en.wikipedia.org/wiki/Cubic_mile_of_oil
Using Wikipedia as a primary source. Lol.
Ian807
if you like your information dumbed down Wiki is a great source. As for Google, maybe. I did a long list for Trav777 about 2 months ago of the US's oil reserves, they are simply massive. I've given you the reason the US does not exploit them, the US Govt strangling exploitation. This is the usual fascism/Marxism no dobt to aid and abet your huge global oil monopolists and prevent smaller competitors from competing on home ground and exposing these fatuous inept dinosaurs
Nato doing our dirty work and keeping oil flowing?
If by that you mean halting Libyan exports, destroying export infrastructure, killing civilians, forcing prices up and stealing a higher stake of oil revenue for the sake of Exxon, BP, Shell, Total, Chevron etc then I agree.
More fool than wise I'm afraid you are...wisefool.
It's merely a ruse...make yourself LOOK weak and foolish...then when your enemy underestimates you...you wallop them!
One Chinaman to count the yuan, and one to watch the counter, a third to watch the watcher, and then a fourth to watch the fourth watcher... and on and on... exponentially.
One chinaman surely works way harder than any Englishman, Frenchman or Greek that's for sure.
And if one ain't enough they got billion and half more.
But then there's Mao and the whole quasi communist big brother system going on. They'll fuck it up somehow. Forget to censor the Internet for a day and the shtf.
Sure about that, or how much Chinese tea did you gulp down to agree with that?
That claim of "hard work" is borne out of slavery, the Chinese way. Not a model you want to emulate, but a model you want to eradicate.
The only hard work the government has to do is to make sure nobody who isn't of a proper background has any freedom, versus giving it to every citizen in Western Europe and the United States.
Let's see now, they have $1+T of US paper and they trade a big chunk of it to euroland for bonds on German, Dutch, French bonds and more good will than you can shake a stick at and leave the US with the serious risk. Doesn't sound too dumb to me.
sunny
China and Russia are actively wooing Europe away from London and DC. Europe's future is eastward with massive exports from Europe to Asia as well as Russian energy westwards already part of the economic fabric. Most of the SCO and some of the CST countries have bright futures in need of European technology. I predict that this will be the new economic and scientific center of mankind (Shanghai PUBLIC schools had the best scores in the world with the US a distant has been) if the banksters fail in launching nukes.
Tyler bitched out a long time ago, that's the why of this recent emphasis on euro doom. Your day is coming.
Ben Fulford has been saying for the past month that China has agreed to a new 'financial system'....and as usual i discarded it as his overactive imagination.
now this...very intersting...
Lots of busy bodies issuing worthless paper is all I see.
Great test scores in school are great, but rote memorization does not necessarily make a creative genius.
I look forward to the day, when people start judging others by their character, and thus begin to actively exclude people whom are committed to doing the wrong thing. This is one thing that the amish get right. The community looks down on you, and you are actively excluded from doing business, this is how it should be, as it seems that TPTB are not the least bit concerned about playing by the rules especially when it applies to them. This will only mean long term havoc for society as a whole.
Junked for your use of bad education statistics.
Those kids were hand-picked to make the test look good. Control for that, and the US jumps up while China goes way down.
Hopefully the nukes get launched on China to send it back for a few more centuries.
US schools and students are among the best in the world if you subtract blacks and hispanics.
Ultimately, China will hold the world's IOUs... and when the rest
Quantum cat is not coherent.
Entanglement indeed...
Really? I thought it was the spin ...
Ultimately, China will hold the world's IOUs... and when the rest of the world defaults, China will have a legal and logical claim to demand restitution that can only be paid by some form of slavery. When the world refuses to pay... the battle for the New World Order will commence.
Then the worlds population will go down just like the NWO wants. So the question is not if this scenario will play out but WHEN?
Strange glitches... can't even edit my own comments.
Well now I know your position, but your momentum remains a mystery.
I can be in two places at one time... perhaps that's my problem.
And dead AND alive simultaneously...
you've got LOTS of problems to choose from.
don't see them as "problems" but as opportunities...
...i think that's how Obumma-Biden-Timmays strategy works, "never let a good crisis go to waste"... this is why these clowns are making so many presumably?!!
And most of the arable land in Australia.........
Repudiate the debt and seize any Chinese assets. Screw them doubly.
Why give China the benefit of the doubt?
The USA couldn't take Vietnam. They are shit deep in Afg/Pak...with no progress...When they really leave Iraq it will implode out of US sphere. But you want them to obliterate China...what bean counting and history reading are you ingurgitating?
Found a great video. Segues to the topic when considering the ponzi factor of this B.S.
http://www.youtube.com/watch?v=QiKh9Ko3mw4&feature=related.
Bonus...Involves a HOT Libertarian chick.
False flag - straight out of Sun Tzu
China swallowed poison too, just like ECB, shaky and trembling with contagion.
How many barrels of oil did that cost, again?
Bingo!!!
NotApplicable is the winner!!!
China: "Here guys, take a pile of these US Treasurys...What? Sure, they're good for it."
All your debts are belong to me...
We will pay you, Mr Wen, we promise. And if we don't, I heard paper rice is easier to digest than plastic.
But plastic rice can be recycled and eaten again!
Perpetual-motion engine bitchez!
"Mr. Bill, Dr. Sluggo says you are crazy and you need a lobotomy!" -- Best Mr. Bill episode EVER! :>D
this just gets more absurd every day.
they can ignore reality all they want...but they can't ignore the consequences of ignoring reality.
this too, will end badly.
China going down with everyone else.
Yep . . . never under-estimate the stupidity of any Govt on the planet, they're all single digit IQ institutions without any exceptions
...and China has 'only' $2.5 Trillion in reserves but Europes problems could swallow the lot... so looks like the Chinese Govt is taking over where the ECB left off, and trying to become insolvent for the lost cause that is 'European integration'
...they should learn from their very own Confuscious who said, "You don't solve a debt problem by digging the hole deeper you fuking moron"
(my Mandarin translation may not be word-for-word perfect)
Maybe they want to keep the whole system together long enough for Obama to sell the rest of the strategic petroleum reserves off to them.
Cry Wolf this time as China officially is crowned the market clown.
No one cares...While they are at it they might want to start buying soon-to-be decaying Australian RMBS
...or China about to sell off EUR via the CIC?
95% of foreign investors have dumped China anyways check the Shanghai B
Australia is the last to wake up ... now you know why Rupert Murdock came from here ... he did his job of sewing ignorance and apathy, dressed up as shallow concern and absurdist humanism almost too well ... I despise what it has become.
How about what the Greeks want?
This is it for Greece. Either they revolt and throw off the shackels of the Banksters and imitate Iceland or they will be in perpetual servatude to them. Its time to man up and do what needs to be done no matter what, If they don't then history will be their judge. The USA's turn is coming shortly but i have no hope for us.....
I think it's pretty obvious that, if left in the hands of the people to decide, the Greeks would go the way of Iceland. But, what the government does is in no way supposed to reflect the will of the people in the "new normal" that TPTB want us to get used to on the way to serfdom.
Remember: a servile citizen is a good citizen.
You know, I've spent time looking for some sound-money/anti-state Greece blogs, news sites, etc. but with no luck. Although I am struggling through with Google translate- so I could not be understanding themes correctly. It seems if they get their bloody revolution they will be left in the same pit except instead of shit being dumped from above it will just be piss (for a while).
Have you found any currents of quality movements from that country? It worries me...
I'd say a servile citizen could actually be considered a good citizen- nothing wrong with wanting to please others =). What bothers me is when people refuse "to hang a question mark on the things [they] have long taken for granted." Thanks for the words Bertrand, a powerful quote.
Maybe http://www.debtocracy.gr/indexen.html can enlight you.
The Greece has a way to sort it out, even if it could potentially spell doom on the whole world order.....
Ever heard about "Odius debt"?
PS: the intresting part starts around min 32.
One should not forget that Iceland throwing off the stranglehold of the bankstas was a quirk of their constitution. Their parliament and Prime Minister were as corrupt and bought as Ireland, Portugal, and Greece, but the president, a titular office (no - nothing to do with implants) was able to throw it into a plebiscite. The rest is history.
Oh shit! They're starting their world take over!
You're late...way late, so late you missed the whole fucking party.
http://www.youtube.com/watch?v=nKD2Zz8x7_k
good one shorts... just what I needed to wind down... makes me feel like everything is going to be ok...
good one shorts... just what I needed to wind down... makes me feel like everything is going to be ok...
+1 Rusty. Thanks.
Deleted post. I just realized that my opinion is meaningless.
'The only absolute knowledge attainable by man is that life is meaningless.'
Leo Tolstoy
True. And by posting anything I think on a blog, is just further proof of that. My opinion - like my asshole, is irrelevant in the overall scheme of things. Blogs are basically a new forum for people to publicize their ignorance, since nobody knows the real truth. I guess it is just a fun way to talk your own book of stupidity. No harm, as long as nobody takes its seriously.
+
Good for you, it only took you 35 weeks.
I have always known that. Luckily, I have not ran across any of your opinions.
OT: You sound a bit disappointed about the human condition today Ari. The observed existence of actual randomness (as per virtual particle's behaviour) implies infinity is what you're in else randonmness could not actually be random, as it would be limited and must come to an end, or else repeat in an ultimately 100% predictable cyclic pattern. Hardly random.
Randomness means you're in an infinite state, and that includes your mind. So cheer up, as you're a bit hard to please if you're disappointed with infinity, and actual infinite possibilites. ;)
Thats it Element, put him on the right track with the randomness gig, err. Why not give it to him straight; life is going to take him to the edge of his experience, then ask him if he has found true happiness, to which he replies "yes life, im happy" to which life responds "do you feel you are fit to live?" to which he says "YES LIFE, YOU'RE GLORIOUS AND I AM NOW FIT TO LIVE!" to which life replies "good my friend, here's cancer, now fuck and die". Moral of story - stay miserable, and keep life happy, because if he finds out you are enjoying yourself, its curtains.
Only joking...
Perhaps you are addicted to instant gratification.
INSTANT: in-stant, noun: The space of time that passes between a street light turning green and the idiot behind you honks their horn.
I think I prefer Aristarchan 's opinions. They are less definite and give more scope for creative interpretation.
fabulous darling.
s'all right bubba, your in good company.....
Is there a single piece of bad news out there right now that is not priced in? Is there a single piece of bad news to come that is not also already priced in?
That's it. Tomorrow I'm releasing a few million contracts from my strategic ES reserve. We're gonna burn those speculative longs.
check the wires......2 big quakes near alaska.......7.2/7.4.......getting closer to the left coast
wouldn’t that be in the unpriced good news category?
They are kicking the can down the road while acquiring real assets like gold, silver and oil on the cheap.
No, Honest, they are kicking the can down the coast until it gets here
Speaking of silver, the CRIMEX inventory has taken another nice decrease in the last 5-6 days.
http://goldandsilverlinings.com/?p=1300
Now the US knows who's gonna bail THEM out..
Why is China so worried about the problems in Europe? Don't they have
enough problems in China to deal with? They are bailing out their banks,
and their housing bubble dwarfs ours. Why would they use their cash
reserves to bail out Europe? Must be more to this than meets the eye.
China knows that the world economy is coming apart at the seams. They don't want that because they already have a bunch of unhappy peasants. Chop, chop, back to work everyone!
China wants a veto at the IMF, just like the US.
China wants a bigger seat at the BIS, which is dominated by very central bankers they are currently bailing out.
China does not like not being able to control the the USD when it accounts for so much of the balance sheet, and is utilized in such a high percentage of Chinese trade settlement (both for the import of energy and raw materials and the export of manufactured goods).
Since the global fiat ponzi is built on a three legged stool (dollar, euro, yen), if the euro breaks now - it takes China in exactly the opposite direction it seeks. So the Euro is a useful idiot, for now.
"They are kicking the can down the road while acquiring real assets like gold, silver and oil on the cheap."
Only one of those three matter.
Actually, none of those three matter. Anything acquired in mass is destined for a fall. Just like Tulips and houses.
Because both of those have also been used as money for thousands of years...
Historical stupidity is no guide for future viability.
Your opinion means nothing.
That....does not mean shit.
Oil doesn't matter huh?
Ok.
I guess you could argue nothing matters but i've not much time for Nihilism. You might aswell go and play in the traffic Ari.
dbl
. . . You're actually comparing tulips to oil?
. . . You're actually comparing tulips to oil?
Why not? If the US really wants oil, they can develop and produce their own. Plus, after 9-11, we should have invaded Saudi Arabia...since most of the hijackers came from there (the action of one citizen caused WW1). You are right in that tulips were something desired, not needed, but the way the world treats oil - allowing mindless speculation on its value, and allowing countries who want their religion to control the world...and who fund terrorists to kill us have a means to set the value of it....it seems a lot like tulips to me.
If the US can't militarily WIN in absolute and unquestionable terms simultaneously in Iraq and Afghanistan, then military invasion of Saudi Arabia isn't even an option. No US installed regime would be viewed as a remotely acceptable custodian for the two holy mosques, and the ensuing crusade to rescue the holy land would be the end of the global military dominance of the US. There is also the minor problem of the US oil addiction by both the military and consumers, an embargo by Muslim states and OPEC would leave the US with just domestic production, Canada, Mexico, and the SPR. The loss of Venezuelan, Equatorial Guinean, and Nigerian crude would be crippling, even before the astronomical oil price increase redefined the balance of payments and wealth within NAFTA.
oil doesn't matter?? WTF
Communist exceptionalism!
For all the promises that the lives and limbs lost by Americans in Afghanistan and Iraq will never be forgotten, those lost in Korea, Vietnam and Cambodia are now routinely overlooked as the political leaders of the free world genuflex to the terms of the a new cold war.
Dead bodies and wrecked minds don't count in the overall scheme of things....as long as they are plebeian cake-eater's. Wars are fought by young fools, directed by old fools. And, they are set in motion by a political class of total fucking idiots who see their own power and re-election to office as the most important thing for the country. Thousands of people have died, gone broke and been incarcerated in this country to provide sustenace to the whims of a class of people who in a just world, ought to to be cast out to the fires of hell.
By Jove! You've got it!
Thanks, Aristarchan!
Yours is the most accurate post I have ever read on this best of all blogs
thanks Tyler!
I knew I would finally be rewarded for getting up in the middle of the night and catching up on the posts in hopes of catching some well articulated point of view...
The future looks ever more bleak while all countries go "all in" to pretend and extend.
It will be a very crazy reset if all the structures in place have to redo. Fiat will actually be worthless. This is incredibly difficult to believe in the "developed" world but it is going to happen. Timing impossible to predict, but if you're like me, with young adult children, it is time to buy tangibles.
It would have been so much better for Greece to have restructured, Ireland let the banks die, etc etc etc. Including some serious USA companies bk. What we're into will actually put us back into fiefdoms, non stop wars, and the worst prognosis of the MNC (multi national corporation) world actually come into play.
Good to see China pissing its money away following the Western GS advisers....maybe they want to buy some Lehman MiniBonds...he he he.
China has many tricks up its sleeve, believe you me.
China has had many an Empire both rise and fall throughout history.
The United States may have the strongest military but we have very weak nationalism compared to the Chinese. Which would put us at disadvantage off the bat should World War come to fruition due to future conflicts.
I am on the side of the Founders and what America was founded upon, it is just impossible to prodict future events due to the fact the USA is a baby realitive to the other nation states throughout the world.
the founders, lulz
A baby? The American government is one of the oldest in the world. Even the Chinese communist government is younger.
The founders' ideals are flawed, as evidenced by the degeneration of said government.
Just as the ideals of the Chinese state are flawed. Fuck conservatism. Something new must be formulated; something which withstands the test of time.
"Something new must be formulated; something which withstands the test of time."
You're right that something new must be created. Our system is broken.
When it comes time to set up a new system, I am partial to adding more pure democracy to the system. Switzerland has the most pure democracy in their system of all the countries, and they look like they are doing pretty good compared to many others. It's much tougher to buy a majority of the people than to buy a few representatives. Our founders were very against pure democracy, and in their aversion to it I think they set us up for what has happened.
well, i would tend to agree w/ b_B, in general.
the values of the Founders can still inform us. they are not "flawed" in the sense that some blogger can declare them irrelevant.
even if another calling herself "dolly madison" chimes in, later, with, "You're right...," that does not make it so.
Nice post Slewie! Have a good weekend! Yen.
switzerland is also effective apartheid. They are not burdened with having to extend democracy to mexicans.
You guys sure place a lot of weight on artificial lines on a map instead of on the people in those lines. Until you wake up, we'll get nowhere because you cannot even identify the problem.
Yeah, nothing gets the chest beating american joe proud of its system of corruption and evil the moment you mention the "bogeyman"; it's the same with saddam, the same with trhe russians, the same with vietnam, the same with castro, etc. That's why america is proud to have never stopped waging war against the world, spent $1trillion in the last 10 years chasing turban-clad mdeieval tribesmen in Afgahnistan and an enemy long dead. A manipulated and dumb rabble deserves baffoons and pupets as leaders, deserve to be all serfs of the red shield. Here's a question for willy : which country have the jews never been able to establish a foothold as bankers and manipulators of politics? Its ok you don;t know the answer, but a little less chest beating will increase your brain cells quickly.
it's just recycled fraudcap clownbux they got from j. p. hedgehog.
+1 Buzz actually PLUS 10. Yen
Bow down to your new masters Europe...
Greece is like an underwater homeowner that owes money to Bank of America. If they walk the EU and the IMF eat it. If I was Greece I would use the Otter defense like in the movie "Animal House"
"You F'd up, you trusted us!"
greece had help from fraud street getting into the eu
Greece is like an underwater homeowner that owes money to Bank of America. If they walk the EU and the IMF eat it. If I was Greece I would use the Otter defense like in the movie "Animal House"
"You F'd up, you trusted us!"
earth quake 7.somthing off Alaska...anyone?
http://earthquake.usgs.gov/earthquakes/dyfi/events/us/c0004f5m/us/index....
if you go to a bad movie are you happy or sad to see
it has ended? and some movies hang on the last scene
that determines whether you wasted the last hour and a half
or not.
but then there are shows, shit shows, that are just so
awful that there is no last scene in the universe that
could save them. this is what we have here.
we should all just walk out.
is that possible? of course it is.
.
bonnie falkkner interviews max
http://www.kpfa.org/archive/id/70900
.
ori
http://vimeo.com/24125825
I feel we have an obligation to deal with the projectionist, the people who made the film, and the ones who financed and insured its production, if you get my drift.
Call it a modern analog to the bodhisattva vow.
hardly strong enough
to shake the dust off
a mooses back ....
Once you've seen a 10, a 7.2 seems...meh?
china doesn't want a debt default, canute a rising tide. you can't please everyone.
Lets see the terms before everyone jumps to conclusions. Does G-Pap need approvals to pledge med ports as collateral?
Greece???? This is all about China. China absolutely needs a second large reserve currency, they are justifiably avoiding putting the Yuan in that status.
This is a super deal for them. They get their back-up reserve currency and FOR FREE get the chump Fed to support it, SECRETLY, all the while trying to take down the US with poison heparin, poison cough syrup etc.[SinoForest hahahaha]
The whores in DC and the Fed are PAYING to get us f**ked over!
earth quake 7.somthing off Alaska...anyone?
China gains clout and a foothold in Europe and dumps worthless FRN savings at the same time. Good strategy on their part.
we are in the doomsday wash out trade.
No wonder Faber looks high re: Bloomberg interview
Everything is about to cave in...
excuse me, but what 'bout USA, 800 lbs gorrila in the room..
will China too buy 2.4 trln of debt just to get by into 2012?
just curious
alx
I have renewed hope in the universal foolishness of the human species. Or maybe the species is not so foolish. With each passing bailout, it is becoming clear to me, and it should be becoming increasingly clear to anyone with his eyes wide open, that extend and pretend has legs. Cyd Charisse would be jealous.
Greece will be saved from itself. Their debts will be extended and pretended. They’ll also be distended. Greek lifestyles will be defended; Greece’s people not offended. The world surrendered.
Under the good graces of Uncle Wen, Greece will be supplied with whatever it needs to be what it must be, which is a Greek tragedy, and in return all the Chinese will ask is being allowed the great honor of preventing a once proud people from having to face the facts of their own dissoluteness.
Greece is to be the Priceline of Nations. Choose your own working hours! Choose your own pension! That paternalism is a small price to pay for once again making the world made safe for melamine-enriched baby formula and toothpaste, lead painted toys and the ubiquitous t-shirts and carnival prizes that define the Chinese Miracle Export Employment Machine and Traveling Circus.
Everybody‘s a winner.
Confidence is a funny little wench. It floats around like pixie dust, landing where and when needed, and never wavering from its task of encouraging people to hold tightly their fantasies. When one Great Power is no longer able to shoulder the full faith and credit of the international collective, another paper tiger takes the baton and rushes forward, carrying all in its wake. Tinkers to Evers to Chance. Britain to America to the PRC.
Come East young man. That other Kingdom might have a selective door policy, but rich or poor men alike can pass through the eye of this needle and enter the Middle Kingdom. Believe, and thou shalt be saved. As Tsames Taylor sang, “You’ve Got a Wen”.
“Heck, we invented both paper and fiat, so we ought to know something about them, right? That pudgy little man with bad breath and a severely limited wardrobe who adorns our fiat stands behind the value just as resolutely and unfailingly as he stood behind the exposed buttocks of a thousand young boys during his tenure as the most equal amongst equals. And he’s waiting to stand behind the rest of you. The Greeks inherently understand stuff like that. Y’all should, too.”
Come hither, Portugal! Calling all Spaniards! Make them eyes smile, Eire! All your debts are belong to us. Debt is just another word for everything left to lose.
And so it goes. And goes. And goes.
A thousand years from now, should Tyler propagate his gene pool, another Durden will be there feeding the few holdouts who refuse to sip the insanity otherwise known as the human condition, warning them that whatever “is” is also not sustainable, that any day now everything is going to collapse much faster than anyone thinks, that it’s too corrupt to continue, that the math doesn’t work, that one day the sheeple are going to wake up and tear the whole thing down, that the elite will finally pay a price for their avarice, and the roving hordes will storm through the Hamptons laying waste like a million General Shermans on the march to the sea.
Tomorrow, however, is an asymptote, and there are an infinite number of todays. That seems to be the reality, passed down generation to generation. Only the names change to protect the indolent. Make hay while the sun shines? The sun also---and always---rises.
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for fuck's sake Chindit!!
I have watched quite a few of your posts go by...that was really impressive
bravo
fantastic post.
I have renewed hope in the universal foolishness of the human species. Or maybe the species is not so foolish. With each passing bailout, it is becoming clear to me, and it should be becoming increasingly clear to anyone with his eyes wide open, that extend and pretend has legs. Cyd Charisse would be jealous."
After many decades of searching, scientists have now discovered the missing link between the ape ancestors and the intelligent human beings. It is us.
Thank you, T.S. Eliot.
Maybe those Mayans were right? It is just getting too crazy.