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Please take the time to read my latest entry and post your comments here:
http://pensionpulse.blogspot.com/2010/05/greek-crisis-going-global.html
Thank you,
Leo Kolivakis
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I think we'll see some massive 'tea party' rallies here in the US this summer....
How long before these videos are taken in the U.S. ? Distract and detract - Divide and Conquer - The Change we voted for the Obama way
This already is a global crisis. The rest of the PIIGS will be insolvent regardless of what Greece does. The United States will eventually be insolvent regardless of what Greece does. We are only postponing the inevitable with the printing press. Greece is just the first country to come close to default. The solvency of Europe and the United States does not depend on Greece, it depends on our own actions. The focus on Greece only diverts our attention from our own problems.
The retired police officer in California getting a 150K pension will soon discover that he also lives in Greece..
Not so exportbank, because in the US the courts will eventually come in and force the taxpayer to continue paying the 150K pension. Once the taxpayer is totally tapped out the printing presses will kick in 24/7, the dollar goes pffffft, and the 150K pension will be paid out but will only buy a donut and a small regular coffee.
Time was that having a government job meant you had stability, low pay, adequate retirement so you didn't starve to death. Saying that you worked for the gov't was not a badge of honor in the financial world but it garnered a respect for doing a civic duty. Now it means the best of all worlds. At some point the line was crossed. Salaries were compared to the commercial job market, but the benefits were not factored in. Gov't workers felt "left out". Unions, yes, played a large part in this. Mish certainly despises them. I've never had a real job (always been self-employed) so I can't judge the union influence. The Greek situation should be a lesson, but it won't be learned until we are totally up against the wall. As they say, life is the only school where you get the test before the lesson.
At the fed facility I work at, a person with no experience whatsoever was promoted to director of operations. Due to his salary and years worked, he will soon retire out at $25k a month, full medical benefits. Unbelievable
that's just freaking ridiculous.
Makes me ill knowing this and knowing him...
Someone who would otherwise be unemployable pulling down 25 grand in retirement...
Obviously, the fed system is full of these people and we are paying for them..
yes, thank you. I never really saw myself as an anarchist but I must say I cannot deny it any longer..... All I want government to do is pave the streets, cut the grass and protect the borders........ ok, I want them to arrest violent criminals too. But there is no way a government worker should be assured a retirement fund when private workers don't have this. They should live on social security and their savings just like the rest of the commoners. I swear, I don't understand when America decided to quit fighting the communists and become them!
I think the elephant in the room is that despite all the "flight to quality" argument, the US is s going broke and quickly. The Fed knows the US cannot hope to service its debt if deflation takes hold and the printing presses will be whirring again soon. The US is no safe haven, it is the epicentre of the hyperinflationary collapse to come.
2 weeks ago you were advocating buying Greek bonds on dips - some people may have actually lost money following that fucktarded advice - wheres the apology / retraction ?
You really are the stereotype of the non fiduciary asset allocator , all opinions and no talent
When Trichet et al. get their heads out of their collective Euro asses and start buying Greek bonds, then you'll change your tune.
Oh, Leo. Are you sure your last name is not Wanker? Just messin' with ya dude. Love ya, Leo.
Leo, why are all your videos Russian TV? I hear North Korean TV is pretty good too.
I prefer RT over CNN or other American news coverage with promotes corporate interests over those of ordinary workers. Truth is, I wish I can show you Greek TV clips, but they're not translated. Greek TV has some excellent coverage of the crisis.
I am sure Putin approves of RT coverage as it maintains 100% objectivity.
Same here. RT better than CNN...
FWIW
Of course, the crisis is going global, but mark my words: yesterday, it was Greece. Today, it's Portugal. Tomorrow, it will be the rest (Italy, Spain, etc.). The day after that, France, Germany, the UK.
But next week, or next month, or next year, it will be the U.S.A. And THAT is when things will start to be really 'interesting', so to speak.
The Euro may be on its way out. But the USD is next.
Can I buy you a beer Grand Supercycle?
I would play this tune first...
http://www.youtube.com/watch?v=uu6dUX5MNcY
MAY 1st:
"The weekly DOW chart shows an expanding wedge indicating a significant move is probable ... this remains an overbought bear market rally and the uptrend could falter at any time.
http://www.zerohedge.com/forum/latest-market-outlook-0#comment-326767
Ya think? I'm no chartist but I think I already figgered this one out.
Wheres the dweeb from a few weeks ago that posted his arguments that "there are no more Black Swans?" Isnt that right up there with forever young?
My favorite truism is : "The only constant in life is change"
"The only constant is change"
The more things change, the more things stay the same.
That is why Obamas campain was sucesful.
We still have hope, like I hope the people of the u.s. wake up and vote for any fucking third party!
and change
what people ask me for on the streets
but not since they just passed a law that says you cant ask for change lol
"If they're in vote em out."
Yeah...give the next a$$hole a shot.
Can chinese solars generate power from petrol fires too?