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its the new norm
The goal ain't to save Greece. It's just meant to buy time for Germany to figure out how to dismantle the EU.
I think that Ras is essentially correct (although I do not accept his presumption of success): they are diddling around looking for the politically most expedient way to print money and give it to the organize crime syndicate using the international banks as a front. I miss the days when the banking-crime syndicates like BCCI were actually viewed as corrupt.
And to plan an orderly default on the Greek debt and switch to the drachma.
Even more ridiculous is the idea that their projections are accurate.
They just got confused by the inverted chart. Here are the real numbers:
2011: -7.6, 145.1
2012: -8.7, 153
2013: -10.8, 163.8
2014: -12.9, 176.7 (I think I'm turning Japanese)
Those projections are accurate. They were generated by Joe Biden (http://voices.washingtonpost.com/44/2010/04/biden-predicts-economy-will-...).
Tick-tock, tick-tock. That's the sound of...Rasputin
- Sun, May 2, 2010 - 07:52 AM
...the clock ticking down on the IMF/ECB bailout of Greece (and soon to
be Spain, Portugal, Ireland, Italy, and the rest of the Western world).
How many scleros/SDRs/fiatscos/whatevers will be flung at the "Greece
fire" to try to smother it before it spreads?
Of course, Asian stock/bond/currency markets open in a matter of
hours--and Europe shortly thereafter--so Dominatrix Strauss-Genghis-Kahn
had better twist Angela Jerkle's arm a little tighter and get her to
commit to scrooming the German taxpayer, or it could get ugly very
quickly in the casinos.
In any event, I still don't understand all the wrangling and hubub
over this seemingly minor matter of a hundred billion fiatscos. Sheesh,
the world's governments and central banks flung TENS OF TRILLIONS of
digits at the "Great Disintegration" a year and one-half ago.
...the world "blinked" and Greece WILL be getting its "Infinite Loan"
bailout, WILL be staying in yhe EU, and U.S. taxpaying suckers WILL be
paying the pensions of Greek bus drivers.
Here's the N.Y. Times skinny on the deal:
(Ras Conclusion) Please reference my post yesterday, found here:
...regarding the Greece bailout totally corroborating my Infinite
Theory for what's on deck in virtually every single country.
(Ras Note): For an even broader and deeper dissertation on the
depths of depravity to which TPTP will resort to keep the Ponzi Pyramid
propped, please refer to my "Rasipedia" post yesterday, found here:
Then, after wading through that massive missive, never again should
you have any doubt that these goons will stop at NOTHING to prevent an
Once again, Infinite Fiat theory steps being
played out in exact order specified.
So why all the hand-wringing, wailing and gnashing of teeth now?
Infinite Fiat: Learn it. Live it. Love it.
So Greece goes off the market for 3 years and when it comes back it's debt/GDP in excess of 140%. Yeah that's fucking genius.
Basically restructuring is all but assured, the only question is timing.
The market is overrated... unicorns are now the real deal. Oh yeah... and PIIGS flying.
My god, it's sheer genius! More debt = less debt!!!
Why didn't I think of that????? Now I can see that I am way too stupid to be in charge!!! The guys that are running the place are AWESOME!!!
If masters of the universe don't feel better tonight, then the bailout will have accomplished nothing. For everyone else, tomorrow will be same shit, different day, i.e. fucked.
I'm surprised that you didn't learn this in college, from Professor Bernanke. It's officially known as the "Panhellenic Paradox", where the further in debt you go, the less that you owe overall. It's a key principle of Central Banking. It's the only way to save... never mind.
100%+ debt-to-(mickey mouse)GDP is the new normal
This is like a trader who keeps doubling up as he keeps a losing trade going, but is different, the governments are doing it now... so they can't lose cost they change the rules in their favour so there is no worries this time. Will it work long term? Didn't work for all the other traders who did this.......... but at least they lost before they wrecked the companies they traded for instead of the world
Keynesian-Martingale Ponzi Finance - the current economic paradigm
So Greece will owe more ( as will its fellow Piigs) in 2013/14 and interest rates for sovereign debt will be lower than this IMF loan and the EU's concessionary rate?
so Dominatrix Strauss-Genghis-Kahn
How many times do we have to say it? Strauss Kahn is man baby!
Virtually every "Convulsion/Spasm/Debt Default" by a foreign country has been a buying opportunity in stocks.
- Thailand in 1997
- Russia in 1998
- Argentina in 2001
The "Infinite Hose of Liquidity" is always turned on full blast...
I would distinguish your other examples as 'one-off's.
I might agree with you if Greece were the only country in trouble.
But Spain? Plus Portugal? Plus Ireland? Plus Italy?
The Titanic would have limped into port safely if only 1 hull compartment had been breached. It sank because the ice-berg sliced holes in several compartments, more than the ship could bear.
I'm not so confident in your investment thesis here.
Show us a chart for Japan/Nikkei.
Maybe Greece is just the "AIG" that is being used as a conduit to keep afloat EU banks, for now.
Now with Greece officially bailed out until the inevitable implosion in three years, GS has managed to pretty much stay off the radar this weekend as well. Looks like the markets may be back to a cheerful disposition on Monday (futures green as I type).
The oil spreading through the gulf is probably a much, much bigger issue than anyone is willing to admit. Most people are still talking about an amateur "bomb" set to go off with a child's alarm clock rather than a truly unprecedented situation in the gulf.
So life goes on for most and we'll probably see some good "headline" economic data this week. As the macro issues that matter get shoved back to the second page, expect more juice in the US markets this week.
Harry Warbanger, hint, you are wearing emerald tinted glasses.
Wanger, even you seem a little (pun intended) flaccid this evening.
Euro trading negative again (1.3285), got you down?
I get a kick how Harvey Wallbanger said late last week that Greece doesn't matter. Now he says that since Greece is bailed out, all is well. The contradictions are stunning. Of course Harvey will deny saying this.
Time does demonstrate and those for whom time poses difficulties will always retort; "Why live in the past? There is money to be made today and you're behind the times dude".
And people who don't look behind themselves are always the ones getting bit in the ass.
And we have the action of Ben & Co. who drive by looking at the rear view mirror.
What are we buying Harry? I am all in APPL as you said last week...
America is N.1
F%$# the rest of the world!!
The oil issue is nothing.
Tiny Greece... who TF cares?
This is just about America, are you a patriot or not?!
Wanger, you dumb f**k. The futes are basically flat tonight. One would think a true Greek bailout would have goosed them good. But then, maybe we can agree that news doesn't move markets....
Batman's Not Available
More debt would only make sense if this were a mere liquidity crisis.
Of course, we know Greece is insolvent and this bailout will only work until the money is spent and it's time to start paying off the principal.
Yes, but we can take Greece's new debt and securitize it. Then in the magic of bundling, slicing and insuring against default -- we can create a triple A security and sell it all before the summer season in the Hamptons comes around. Why is everyone so negative? < / sarcasm >
Wall St. never changes.
They will be "slicing and dicing" foreign junk bonds before long.
Of course, this time there will be 4 pages of "risk factors" in bold print for full disclosure.
It won't matter.
People "hungry for yield" will buy them anyway, since this crisis has already passed...
government backed securities... also to be known as government BS?
It won't work....just kicks the can down the road in a game of musical chairs. I would remind robot trader that Greece and Europe is not Asia ...they don't have the demographics to bail the out nor do they have the income generation to service their debt.
from "The International" with Clive Owen
[In explaining the "true" nature of banking in the world] The IBBC is a bank. Their objective isn't to control the conflict, it's to control the debt that the conflict produces. You see, the real value of a conflict, the true value, is in the debt that it creates. You control the debt, you control everything. You find this upsetting, yes? But this is the very essence of the banking industry, to make us all, whether we be nations or individuals, slaves to debt.
enough said .. carrry on
I need to buy a country. What a perfect scam.
The State - The Ultimate Scam
"tick tock tick tock.."
"do you hear that? .. that is the sound of inevitability.."
The sound does not appear to be disturbing the sleep of the Egregious Ben Bernanke.
the graph is a little bit misleading. The black line, the way it is projected makes the visualization of the total debt better than it is because it's out of proportion. It has ether be projected on the top starting with 133% to 145% or in the reverse on the bottom.
And yeah, whoever believes that more DEBT is the answer to pay off the old debt is a LUNATIC out of touch with the REALITY.
Greek PM things so. He is presented as a savior here. He gave a "breath" of freedom, propaganda says, as he saved Greece from bankruptcy. The time he leaves power Greece will be reborned.
That is the Greek political culture. Lies and nothing but lies from an ansestor of liars.
You mean like our Fed Chairman?
Probably. But GPap cries and does not sleep at night for he is working to save Greece (Gvnt propaganda)
G=Pap is obviously just the guy left to turn the lights out. He was given a wonderful opportunity to catch a falling knife and even if he was and is part of the problem, he had LOTS of help.
Wonder who it will be when the wheel turns here to the US?
"GPap cries and does not sleep at night for he is working to save Greece"
He's doing the gods' work!
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