- advertisements -
Capitalism is holding it's own in the battle against big government, finacial oligarchy, and socialism / communism.
It may disolve The EU, The USA in the process but truth is a huge stumbling block to all the great plans and planners.
Hugh Hendry is right .Bailouts for a completely overstretched fiat money system of compounded and "impossible to pay back" interest .... crazy. Admit "now" that the basis of the current banking system is just a ponzi scheme. Better late than later !
Looks like the Greek protesters will now soon feel a lot better. See! Everything is now solved.
Other news today?
Goldman Sachs? No, borring!
Oilspill...: No, borring!
Obama's mistress? Neah...
California almost real real broke? So passé
Nothing newsworthy ever happens these days he?
"And as the moderator adds "Shame on you, Europe, for needing the IMF to bail you out. Europe is like an African nation."
That's gotta be the ultimate insult to the European aristocracy, let alone for the intelligentsia and the political organ (pun intended) to be compared to a continent many European countries conquered centuries ago and still consider inferior and which has never been able to get its (financial) house in order. Ouch!
To call upon the IMF for help is to say that the proud Europeans have messed their bed, stink of shit and can't even wipe their ass. This is what you get when you play with that dirty little American whore, a severe case of sexually transmitted disease and a political organ that's rotten to the core, completely useless and about to fall off.
"I've fallen and I can't get up."
Another possible and more likely explanation is that the commentators regard this as a great insult, using their own context as the major reference, regardless of any consideration Europeans has toward this.
Insults are also considered a benefit to insultors. People can insult foreigners in their language, perfectly knowing that the foreigners do not understand the stuff.
LOL!!! We have THE best slapdown artists on this site...!
I GOTTA write that one down. So that I can sound clever next time some richly deserving candidate pisses me off.
I wouldn't sweat it. These people couldn't shame a drug dealing, child molesting, stripper with an IQ of 20.
Oh look impossiblenomics is impossible. I'm so ashamed.
If only Euroland was as fiscally prudent as we are here in the US - none of this would have ever happened.
Well, insulting Europe says more about insulter than about Europe, IMHO.
You are quite correct of course. But I spend some time each week reading European media and the general vibe I get is that they think this has been brought upon them by the Americans, the Fed and the complicit banksters, along with the EU's own corrupt politicians, CBs and banksters. In other words, in the tradition of the human race, they feel they have been victimized.
What's really interesting is that each country then has their own view about their particular victimization in the hands of everyone else. Each country has been most unjustly handled in relationship to the other countries in the EU. So we have layer upon layer of victims in Europe.
Of course, we do the same thing in America, with first regional victims, then state, then city or county. I'm not saying America is any better, just that at times the Europeans think their shit don't stink, or at least not as bad as their neighbors. Or if it does, it's because of the bad food they were fed by others. God forbid they admit they brought this upon themselves just as we did in America.
If they had seignorage rights to the world reserve currency would they have any problems?
It's a global ponzi scheme. This is how it works. This is how it ends. Banks are failing all over the world. Anyone who is talking about responsible spending and responsible debt has deluded themselves way the fuck past pluto on the hipocracy scale. Nobody asked me what economic system I would like to use when I got my first job. Nobody asked me my input on any of this. The people who are going to take the blame for this don't want it. You are going to have to shove it down thier throat
So really you are way to smart and tuned into be jumping on the retard bandwagon. If you want to involve youself for even one second in this european, american, african superiority stupidity do so in an intelligent manner.
Europeans have savings, do you ? We didn't buy McMansions on liar's loan, did you?
We are ignorant as MSM are even worst than yours so that people have no alternative when elections are held. Brain washing has a long tradition in Europe and stealing, yes there they had the best teachers from USA - your politicians and globalists. Merkel and Sarko are american puppets, look up their bio in voltairenet!
Five Stages of Collapse: http://cluborlov.blogspot.com/2008/02/five-stages-of-collapse.html
Also..."The Collapse of Complex Societies"...By Joseph Tainter...Informative, and well reasearched.
EU reaches parity with Greece:
CD, good man, do not equate all Europeans, cause we are not all the same. We were put in a synthetic behemoth ruled by invisible bureaucracy and greedy banks, but we are not the same. Not only are differences between nations beyond words, but every nation has its own history, forces which defined it and people like no other nation. To call all Europeans the same is an insult to European history and the people which inhabit many countries which form Europe. Millenia of micro tribulations, shocks and tremors managed to divide Europe culturally, genetically, intellectually and historically and no bureaucratic monster can erase that division in only 20 years. Europe was forcefully unified because the monstrosities of Hitler still hover in its collective memory, because wars of unification from the 19th century are still contemporary in their significance and the savagery that was brought upon by medieval micro nation states is not forgotten. We Europeans may be geographically united but we are a melting pot which is brewing for 7000 years now. 100 years is a long period in the USA, but in Europe it is not and we do not forget things easily. I'm sorry if this offends you or something, but this goes to all other-side-of-the-Atlantic-ZHers since i see that many commentators here think of us as we are all the same and countries are but provinces of the current Union. That is not only false, but it shows a great lack of knowledge and intelligence in general. Nation states were and are going to be here for a long long long time. This is a failure of made up geopolitical theory, synthetic currency and forced centralism/federalism that is EU and EMU. It is not by any mean a failure of Europe. Can the same be said for the USA.
Cheeky, you do not offend me. And I don't see everyone over there as one big country. But the financial entity that is the EU tries to act that way. I spend time each week reading many European newspapers and I see the differences between each country and between America. I have commented often that the European culture and perspective is much more mature than Americans regarding leisure time, education, culture and history etc.
But there is also a bit of a split personality in many countries. They see themselves as victims, even when it is clear they have caused their own problems. See my post above for more on that.
"Not only are differences between nations beyond words, but every nation has its own history, forces which defined it and people like no other nation."
I have never understood why each country in the EU, by popular vote as all countries must do, would willingly give up it's sovereignty to the EU unless they felt it was to their financial advantage. I understand that many people feel they were hijacked but how hard did the average person in Europe think this through before voting to join the EU?
It's obvious the excuse being held today was that it sounded good at the time. But I remember those discussions back then and there was a lot of contrary views, with many talking about the bad side of the EU. Is it so hard to admit that many people felt a little greed when voting for entry into the EU, like they would be able to challenge America, China and Russia if they joined together.
Now that it has gone all wrong, just as it has in America, everyone is looking for scapegoats to blame. This is what angers me a bit. A constant theme here on ZH is that we ZHer's are above the fray because we didn't go with the flow or succumb to the insanity or whatever. That because we didn't agree to this, it's not our fault and thus we aren't responsible for cleaning this mess up. I see and hear this as well in Europe.
And this was the purpose of my clumsy comments, to say that we are all acting a little like children, pointing fingers and saying "I told you so" when in fact, this mess, even though we may be able to disown it in our mind, is still kicking me and everyone else in the ass.
"They see themselves as victims...."
"...give up it's sovereignty to the EU..."
"...Is it so hard to admit that many people felt a little greed when voting for entry into the EU, like they would be able to challenge America, China and Russia if they joined together...."
"Now that it has gone all wrong..."
You should better stay commenting economics, because you clearly have no idea about Europe, europeans or EU. No constructive discussion here, only bias.
"You should better stay commenting economics, because you clearly have no idea about Europe, europeans or EU. No constructive discussion here, only bias."
OK, then educate me. If I am wrong, and I most certainly am often wrong, tell me where. I am more than willing to modify or completely change my views based upon facts that I'm either unaware of or can't see because of my own bias.
But to dismiss me without discussion also shows your bias. Instead of being angry, since I'm open to being educated and willing to learn from you, why don't you try showing me the error of my ways.
I´m neither angry or biased(me think), I´m only tired of american simplistic view of Europe. It´s really difficult to have a constructive discussion when you see (american) poeple missing the basic knowledge of Europe.
"They see themselves as victims". That´s a statement and your belief, not a fact. Should Europeans really see themselves as victims then we(and most of world) still lives in medieval times. Europeans are evolutionists, and always been, if you understand.
What is EU? It´s not a person or some alien, EU is an association of countries. You give and get. Not a one-way street.
Greed? America, China, Russia? Nothing of that. Reasons for creating EU were purely domestic(european).
"Now that it has gone all wrong..." All went wrong? If something goes wrong, fix it is the right option, not throw it away. We´re evolutionist, remember? See above. Only two countries talk about EMU break-up. US and UK. (What a coincidence). Eurozone talks about fixing it, not breaking. (it may still break-up, regardless, of course)
Thank you for replying back to me.
Then it sounds like what is being said in your media is contrary to what you are saying. I guess that isn't surprising because the average American doesn't beleive US media reflects the average American, which is one of the reasons US newspapers are dying.
So is this the case in the various European countries, that the media doesn't accurately reflect to view of the man on the street? Because honestly that is where I get my information. If this is the case, do you have alternative media outlets that might set me straight in my thinking?
I dont know whether european media represent average europeans or not because I dont read it, but I guess they do not. Dont have any other(alternative) media links, dont read too much these days. Except ZeroHedge ;p. The best way to understand people of a land is to go and live there for some time, I´d say.
Unfortunately I can not do so and I assume neither can you. Thus the utility of the comment section of ZH. :>)
I will be more careful in the future and not lump a group of different nations together nor make general assumptions like I did simply because they share a common currency and close economic ties.
And not trust the foreign media as much as I obviously did. I tried to cross reference to avoid the natural bias newspapers have to support the powers that be and I had thought that there was more media independence in Europe, but such doesn't seem to be the case.
Oh, what should I say.
I think not. Sorry to sound offensive.
First you write:
"I will be more careful in the future and not lump a group of different nations together..."
"I had thought that there was more media independence in Europe"
So, we´re in square 1 again. Do people in US know that Europe is a continent not a country? Wondering ....
"Do people in US know that Europe is a continent not a country?"
If you look at the physical geography, Europe is just the left side of a true continent, properly defined, that you might call Eurasia. So the question is what makes the left side of the Eurasian confident at the same different from the right side, and similar enough to itself, to get the special name "Europe". Everybody knows it isn't quite a country, which would be giving it an absurd overdose of credit, but it does have some internal consistencies that have earned it a name, despites its not really being a "continent" in any true sense.
continent, not confident! Damned brains!
"Everybody knows it isn't QUITE a country..."
That´s a PROGRESS I tell ya. Congratulations. With this pace, americans will even know that french is not the official language of Europe. In some 1000 years or so ...
Any thoughts then about what it is that the disparate elements of "Europe" have in common, that earn them the collective moniker "Europe", which we find quite handy in conversation?
They ought to have a lot in common, because the members of Europe are big on their Europeanness, and all around the world, not just in the USA, people refer to the members of "Europe" as, doggonit there it is again!, European.
All around the globe you find people who don't know much precisely what the differences are between the "European" countries. Get over yourselves, if you possibly can. On a map of the globe you have a lot big influential countries, and in "Europe" you have a confusing mishmash of tiny countries that most of the people in the world, and not only Americans, don't know that much about.
Oh, man. This is becoming funny. I only try to say that Europe is a CONTINENT, not a country. Period. Like Asia, or Africa, or Americas ... And what an amount of biased information I get back? Amazing. Tells lot about you. Please, go on, at least I learn something about the US.
I think I speak for ALL Americans in saying that we laugh at you because you think soccer is a great sport
And the whole world is laughing at you because you think that boring game you call football is a great sport. World Cup is the most watched event on planet. How many people outside US watch your final game? Exactly. No one. So you may laugh. At yourselves.
OK, now you are getting into taunting over what the french (/spit) call les gouts et les couleurs. The EMU =is= falling apart, and it =was= constructed in such a way that this sort of crisis would destroy it, =despite= lots of smart economists pointing out the folly. Currency zones and all of that.
So what did they think they were getting out of it, each of these european states? You'd hear arguments that they wanted it as an =external source or discipline on their own countries politicians=, sort of like, I dunno US politicians trying to vote laws against their own profligacy so they can't do it anymore. The man in the street absolutely thought, and openly expressed the idea that this was critical to compete with the US and Japan and China and so on...countries which presumably had a lot influence and power thanks to their larger currency zones.
EMU was constructed in a way which was the only possible at the time. And the construction is still under way.
"The man in the street absolutely thought, and openly expressed the idea that this was critical to compete with the US and Japan and China and so on...countries which presumably had a lot influence and power thanks to their larger currency zones."On outside yes, but the main reason for it was, is, political.
"On outside yes, but the main reason for it was, is, political."
To what political end??? Clarity, much?
Political(military) union.........Well, a kind of
A military alliance between such militarily weak and politically feckless countries having such wildly different aims doesn't make a stronger alliance, and it doesn't make a focused alliance. Case in point: Look a the Bosnia and Kosovo situation. A genocide right in the heart of europe dragged on while the weak, feckless european countries squabbled. US and UN intervention came later, no thanks to "Europe".
So that pretty much busts your theory.
The original reason for "Europe" and democratic socialism writ large was to constrain Germany and prevent wars(by taming nationalist impulses that come out of econonomic crises in Europe, ahem). The resuly is a disarmed, socialist, broke, childless continent, but that hasn't made you more secure. Au contraire, all you need for a cost efficient genocide is a bunch of machetes..easily constructed with a strip of metal and a file.
Thanks for your opinion about Europe, appreciate it. Sorry to not write my opinion about US. I dont have one. I dont really care about US too much, so ....
Lived and worked in France for 10 years and got my MBA and psychology degrees there. A year working in Germany too. I care about freedom for humans, and therefore I'm big on western civilisation in general, ergo I care about the ongoing re-implosion of Europe. The US will be greatly affected, as usual. Maybe Europe will be saved one more time by the US. I doubt it, but it won't hurt you to wish for it, and not irritating us might actually help your case.
Why should US save Europe when Europe is such a worthless piece of shit? (as you described above)
Now, move your troops out. Quick, quick.... you still here?
Freedom, genius. We are there exactly because Europe is not a worthless piece of shit, or wasn't a piece a shit. It is still part of the free world, and freedom is something we like to back up, and expand. Unfortunately we overdid our support for Europe during the cold war(see all the bases we still have there), which permitted them to lavish the resources not spent on defending themselves on buying votes and constructing cushy nanny states fully of whiny, dependent citizens. The world is still a dangerous place, and getting more so. The europeans don't seem to know this, but that have remarked that their own cities are getting more dangerous. This is of course the fault of the USA, the IMF, globalisation, Joooos, or whatever other outside force.
Mhmm, I didnt know it makes sense to spend time and effort on shit. Well, whatever, you must know better. I agree with you, though. You did overdo. Now you can leave. Will you ? ... or not. I know it´s more difficult to upkeep an empire without bases, but you´ll figure out something. An illegal war .... or something.........regime change, for example. CIA guys are pretty well qualified in this one.
No you don't.
Both soccer and american football are games, not sports, good for the physical and mental fitness of children and young adults. The obvious success of the NFL and FIFRA in selling these games to consumers, buying huge chunks of mindshare and time, reflects badly on each and every human who gave over that time and mindshare. I guess interest in watching those games is something programmed into the human genome, like our interest in the "chase scenes" film makers add. It isn't just a fetish of theirs, it is entertainment for humans. No one watching has an actual stake in either the chase scene or which of the teams of overgrown children running around on the field gets the most point. We do have stakes in what governments do with the currencies they force us to use.
The proprietary indicators I use can identify trend changes before they occur and they have been warning of a USD rally since last year.
Just posted a new EURUSD chart: showing long term trendline with important support around 1.2770
Hendry has a "huge bet" against the EUR? Last thing I saw he was long different pegged pairs such as EUREEK etc., i.e. zero directional short exposure to the EUR.
BANK BANG (Sequel):
I also saw your "SS Euro" Voyage of the Damned. Dude, there was clearly some juggling on your part to fit 5 "smoked" countries on a 4 smoke stack ship. And I love the woman at the top with the monocle.
Funny how just 6 months ago everybody was bullish on the Euro. Does Buffet still own a huge long in the Euro?
Dunno what he owns, but he definitely has a huge long for Goldman Suchs.
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Advertise With Us
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments
Notice on Racial Discrimination.