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I Am The US Taxpayer's Lack Of Surprise (And Money): IMF To Provide Another €10 Billion To Greece
Where does it end? 100 billion? 1 trillion? 1 quadrillion? And yes America, this is your money, going to bail out Greece... Then Portugal... Then Ukraine....Then Dubai....Then Italy....Then Spain....Then Hungary....Then the Baltics...Then the UK....Then Japan... and by the time we have to bail ourselves out, there will be nothing left, except the Turbo Bernanke 3000 dry heaving with an empty ink cartridge and empty paper cart, while gold oz will be worth one quadrillion Benjamins (or is that Bernankes). In the meantime, as Erik Nielsen, who finally woke up, predicted, the final bailout cost of Greece alone will be €150 billion. So the IMF will do rookie mistake 101 and keep raising the bailout requirement incrementally, even as the depositor runs on Greek banks and the ongoing strikes and riots, destroy the country...But at least in the meantime the dollar will get devalued and Wells-JPM-BofA/REIT investors will be happy.
The International Monetary Fund is looking at raising its share of Greece’s financial rescue package by €10bn ($13.2bn) amid fears that the planned €45bn bail-out will fail to prevent the country’s debt crisis from spiralling out of control.
Stock markets on both sides of the Atlantic fell on Tuesday, with leading European indices suffering their heaviest falls of the year, after Standard & Poor’s cut Greece’s long-term credit rating to junk status. The struggling nation is the first eurozone member to have its debt downgraded to junk level.
Shares in Athens fell 6 per cent as banks plunged more than 9 per cent. Greek government bonds suffered further heavy falls on growing concern that the country may need to restructure its debts in spite of the proposed eurozone and IMF rescue. Portugal’s stock market was down nearly 5 per cent as Lisbon’s long-term credit ratings were also reduced to by two notches from A plus to A minus, reflecting the country’s weakening public finances.
Senior bankers and officials in Washington and Athens told the Financial Times that the IMF was in talks to increase its aid contribution by €10bn. The fund could make that sum available under a planned three-year loan, according to an Athens-based analyst familiar with the talks.
Investors and policy specialists said that expectations of the size of the three-year package in Washington policy circles had increased to at least €70bn. The EU has so far proposed to provide €30bn and the IMF €15bn. “The fund’s current ceiling for Greece is €25bn and the release of the extra amount is under discussion,” the analyst said. The IMF declined to comment on the size of the package.
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"the Turbo Bernanke 3000 dry heaving with an empty ink cartridge and empty paper cart "
Priceless!
Sounds like Marla is not missing after all, but has been subsumed into the Trapper Keeper that is Tyler Durden
Dont forget, the fleet of Bell "Bernanke" 430 to disperse all of that money.
Looks like Christmas is coming! And you'll never guess what Ben is getting... Surprise!
http://www.coolfunpics.com/slides/Gift_Wrap_Helicopter.jpg
“We have gone past the point of no return,” said Jacques Cailloux, chief Europe economist at the Royal Bank of Scotland.“There is a complete loss of confidence. The bond markets are in disintegration and it is getting worse every day.
“The ECB has been side-lined in the Greek crisis so far but do you allow a bond crash in your region if you are the lender-of-last resort? They may have to act as contagion spreads to larger countries such as Italy. We started to see the first glimpse of that today.”
Mr Cailloux said the ECB should resort to its “nuclear option” of intervening directly in the markets to purchase government bonds.
http://www.telegraph.co.uk/finance/economics/7640783/ECB-may-have-to-tur...
That is because Bernanke and other central bankers have determined that no one should fail and they will keep torching their currencies to make sure that does not happen. There is nothing that a few more fantasy dollars can't fix.
Look, man, there's no amount of cuts and taxes that can save this.
The debts of today cannot be paid by tomorrow's production. It's as simple as that.
We are in the endgame and have been since the oil peak
But if we all shop till we drop, it will all get better and better,right? That's what they taught us....So we need to teach the Greeks how to shop!
BTW: It is not the Greeks overspending. It is the government and their vote buing decisions to get everyone in the government payrolls, high salaries in the non-productive sector, retire at 61, great pension and a one time payment of 200K.
Say goodnight Virginia and turn the lights off.
Yes. Greece has an old-fashioned sovereign-debt/entitlements crisis. Ireland is in the tail-end of a private-sector credit bubble. The US has both.
Yep. The idea that all this sovereign debt will ever be paid off out of the taxed production of the next six generations is laughable. You'd be better off with Imperial Russian bonds from 1916 - they probably at least have antique value today. It's a Ponzi scheme, everyone knows it, and they're just praying they can jump off at the right point.
When no one may fail, all will fail.
Sadly, that is exactly right.
that should be chopped into granite and placed on obama's and bernanke's desks.
I'm quoting you on that one.
Epic currency FAIL looms as any rational use of mathematics indicates.
DOOM, thy name is bernanke.
So even if the IMF is willing to lend the maximum of €25 billion that only gets to €55 billion.€ That requires the EU to come up with €15 billion or 50% more for their loan.
That would require Portugal to find another €385 million it doesn't have and likely have to pay more their money than Greece would for its! Ireland is in the same fix needing to come up with €235 million to top off its contribution, also likely at a higher interest rate than what Greece will pay. This is idiocy!
Agreed that it is idiocy. Curious if those readers in Euro area can provide feedback on the media coverage of this event.
Another ZH reader (think it was Alien_Serf) reported being with a relatively knowledgeable group and this issue was not known to them. The FT may provide coverage but little in the Guardian. I bet nothing in the Irish, or Spanish press. I do not understand how publics can accept severe austerity measures and then accept the state borrowing funds to send elsewhere to sustain a lifestyle that the lenders cannot themselves enjoy. It is completely bizarre.
hey sushi, i was just commenting that they didn't really seem to be all that interested. though on woman was a first generation american greek. said to forget any hope for them, NO ONE pays taxes, if you do you are mocked as a sucker. you have to bribe the mailman to get your mail and the entire place is a nightmare. that being said, apparently it is gorgeous and they have great food.
bbc has some coverage, skynews, plenty of german newspaper sites with english editions. i like.
Just anecdotal from one source, but according to a French associate of mine there has been virtually no coverage regarding Greece in the mainstream French press.
In the UK the Telegraph is providing good coverage, see the finance page http://www.telegraph.co.uk/finance/
Ambrose Evans-Pritchard the International Business Editor also provides regular commentary with plenty of pro Euro commentators and rebuttal :-) see http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/
Today the Guardian is running Greece's financial crisis - LIVE
http://www.guardian.co.uk/business/blog/2010/apr/28/greece-financial-crisis
The German press is saying no money for Greece and elections are coming on May 9th so the politicians have been hoping to put this off until then but no chance now. Something needs to be sorted before next Monday.
Unless Belarus pays Bulgaria and Bulgaria pays Portugal. Then Portugal pays the IMF who pays Greece.
The finishing touch is the Belarus Government threatens to go Marxist and the State Dept goes rushing over with a satchel full of money.That would solve everything
Brilliant! I think that you have come up with the ultimate solution. This giant check kiting scheme is bound to work and I am surprised that HeliBen hasn't thought of it first. All hail Caviar Emptor as the new financial czar of the world! It will take the JSPs of the world decades to figure this one out ... hell they may never catch on.
Sounds like the 20s when America paid Germany, Germany paid the Allies, and the Allies paid America (well, Wall Street). These little merry-go-rounds always end well.
"These little merry-go-rounds always end well."
I believe the proper term is "daisy chain".
http://www.urbandictionary.com/define.php?term=daisy+chain
Good point.
Bring it on. Just keep buying that gold.
agreed. i hope today wasnt a sign thats its started to decouple already
BD, it has been decoupling since the Fall of '08, where gold et al began their climb to heaven and have not looked back. What you hear now are the main fuses popping, and should be done by mid summer. It will have fully decoupled by December 21st. We will hit REAL high a year from now. It will break that ceiling with great momentum and the new high is anyone's guess. $10k-$15k by the spring of '13, in REAL terms. Who knows what the hell any of this will look like then numerically.
GhostFaceInvestah -
love the name...
Wu Tang Forever....
and yes physical gold and silver must b bought...
of course, "Bring it on," is a Bushish in which he declares (epic fail) himself to be a man.
It is interesting to note the context here, "I can take the disintegration of society as long as I have my Au."
No grocery, no gas, no muni services (police, fire, ambulance, hospital, etc.)...that is the result of a massive credit crisis and hyperinflation in which there are no large scale systems of value to prop up an economy of any scize.
Not saying it isn't going to happen that way, "Bring It On" just seems a wee bit naive.
By the time they are done propping up all the countries and banks that should have defaulted and cleaned their books, there won't be a safe place to put your money in.
if by money you mean fiat currencies, then no
if by money you mean silver/gold, then "my safe" is the answer.
This is unbelievable. It's like watching a 13 car pile up in slow motion and you almost know exactly what comes next.
I know I've been busting "Tyler" for his near sexual obsession (get a room already) with this Goldman bullshit (see story below this one) but ZH has been on the ball, early and right with this issue since before it was an issue.
http://www.youtube.com/watch?v=ctB6E_3OyCM
Nice.
I had that feeling in 2005. In finance, he who sees the past can see the future. The trouble is, no one believes you.
Nope... nobody does. There's always some smooth talking snake oil salesman with promises of win-win for everybody. There's always a plan to "trick" our way out of the hole, and most folks will follow that guy and his "easy way out". And the hole gets deeper...
Was there any doubt that they come up with another bailout attempt before the markets open tomorrow? Lather, rinse, repeat.
I wish someone would do a poll to see how many Americans support having their money used to bailout Greece.
I can answer that!
A nice round number would support it... Zero.
Zombie, you kiddin?.
Hell, WE do not even know where OUR Bailout money went.......and is still going.
We do know, up front, any IMF bailout, the USA is required to foot 25% of the total.............
After that, God only knows.
"our" money?
WTF about this is "our" money? It's all fictional money.
The US lent money it didn't have to the IMF which will lend money it doesn't have.
The WHOLE THING is a house of cards; I marvel at the inertia that makes a FRN worth anything or any of these fuckin accounting computer entries afforded ANY respect by anyone when the whole thing is obviously a shell ponzi to anyone with a brain.
It may very well take a long time before the sheeple lose faith in the FRN; until then, we can go on droppin it like it's hot
Agreed, the only thing that keeps me from going insane with rage is knowing that I'm not really paying for all of it, except perhaps when civilization implodes. There isn't enough money coming in from taxes to pay a millionth of this horseshit. It's all lies. Buy gold and you'll feel like the T-1000 as the Fed empties clip after clip of inflation at you while you merely laugh.
Let's sit back and watch them financially engineer reality. This is a circus; at a certain point, though, the elephant stops obeying the master and tramples everyone in its path, after it first gets back at the ring leader.
It only works with low rates. How do they keep the money train moving (read massive quantities of gov debt) without equities and commodities getting crushed? This market has to drop for the bailouts to continue to be financed.
Presuming that the invisible hand propping up the markets resides at the end of the current administration's arm, a significant market drop aint gonna happen until the wheels finally fall off this cart. Or at least not until after November.
A significant drop in the stock market would wipe out numerous state pension plans as well as any perception of a growing economy (since general public seems to equate the stock market with the economy), thereby alienating, well, pretty much everyone who votes.
That makes some sense.. but how will they defend against the inflation hawks? If the market keeps raging higher how does "extended period" become justified? AND, when do bond investors start to see the writing on the wall and begin to adjust yields themselves?
Just a guess, but based on previous observation, their defense against inflation hawks will be to ignore them (no coverage in the MSM) and then ridicule them if that doesn't work. They can pretty much make up any justification for 'extended periods' - who is going to complain? The public will be kept ignorant and the informed will keep trading (and profiting) on the knowledge that things will only go up.
The game will go on until a large enough player decides that they want to turn those 'virtual' stock market gains into real cash or commodities, sparking panic in the already skittish herd as everyone tries to cash out first and buy real stuff with their 'gains'.
Or, as you say, the bond investors decide it is time for some 'adjustment'. But the bond investors may realize that such an adjustment will essentially end the game and thus stay their hand. For a while, anyway.
Just my 2c
Do you feel that? That is the invisible hand picking your pocket.
All sorts of wrong. For Americans, no taxation without representation. Talking my book though, I hope this accelerates the price of gold. And it looks like the IMF is taking cues from Benron; Benron tries to trash the dollar by buying worthless MBSs, and now the IMF wants to trash its SDR currency/non-currency by buying up Greek debt right at the time Greece should default. FAIL all around.
Once a debt-monger, always a debt-monger. Fiat come and fiat go.
But always the Banksters earn interest on fiat created out of thin air.
And the Banksters refrain, "Since we own all your debt, we own you. Pwned."
I freely admit that a lot of this stuff is over my head...
...but I really don't "get" this at all.
It's not like the U.S. (or anyone at this point) has a huge pile of extra wealth/money/gold lying around...and they just can't figure out what to do with it.
Hell, we (and many other countries) can't pay for what they have now...
Other than just literally printing money, how can we "bail" anyone out???
It is like 3 card monte, a shell game.There is no bean.The system fails when the dealers hand motions run into the limits of relativity and cannot break the speed of light to give the false impression there is money everywhere.Right now, I estimate the dealers hand speed @ 98.5% of the speed of light.
The game will end quickly, and in an ugly fashion.
Because no one will reign the maniacs in.
I guess you are willing to find out the hard way, just how wrong you are and have been. What puzzles me, is you actually believe the reports released by the US media or the US government? Exactly how old are you dude? Where have you been all these years?
Loads are up but still 20% off of the 2008 top.
Interestingly, even though metal ore and coke shipments are way up... the level of metalurgical and thermal generating coal shipments combined are down 6% over last year... and that accounts for almost half of US rail activity... so if the economy is recovering we must just be getting a heck of a lot greener!
http://www.aar.org/NewsAndEvents/PressReleases/2010/04/~/media/AAR/Weekly_Traffic_Reports/trf1013.ashx
They say a broken clock is right twice a day ... conversely, that would mean it is wrong 1,438 times a day.
whsat did truck tonnage do in late '07 an '08? pedictor of nothing.
I have family that are trucking brokers, and they are starving right now. Gone is the nice home, (they lived with us for a time last year) they are now renting a single wide and living week to week. BUT.. that doesnt matter... just one of a few who fell through the cracks of a massive recovery that is sweeping the nation, I am sure.
Dick Fitzwell
best trucking business . hauling cow manure .
with gold silver hidden in the mix.
like the john Law era , the wise one's got out of dodge with manure wagons as a camoflauge.
When that "small far away country" has its finger on the financial nuclear trigger, and that finger is getting increasingly twitchy, you may just want to pull your eyes away from the CNBC pump monkeys for a few minutes and pay it some attention.
Your selectivity in choosing data points to attempt to buttress your hysterical and laughable claims of "recovery", while simultaneously denying or ignoring the vastly larger amount of data that does NOT support your cynical and ludicrous claims, is an act of disingenuous misinformation worthy of Jon Nadler himself.
Jonny, is that you?
Yes, I know, in conspiracy land don't believe any numbers unless they happen to be worse than expected. Well, guess what? We've seen pretty good economic numbers for a couple of weeks now. Especially encouraging was Durables and the data on rail and truck traffic. These are as direct an indicator as you can get of a solid growth story.
I'm actually baffled how people can continue to look at stronger data and write it off as "lies" or "just wait until the stimulus goes away", etc., etc. What are you going to say on Friday when GDP will blow through the estimate for a very solid number? I can pretty much say with certainty that by the end of day on Friday, the strong GDP number and claims on Thursday will erase the loss caused by Greece. It'll be long forgotten.
It's ok to be bearish when the numbers support it but to be bearish now in the face of the much stronger data is pretty foolish.
"I can pretty much say with certainty that by the end of day on Friday, the strong GDP number and claims on Thursday will erase the loss caused by Greece. It'll be long forgotten."
I think that's the idea Harry... but I love your optimistic outlook... it keeps me from sticking a gun in my mouth... so please keep posting!
hahah. if you want to stick a gun in your mouth, check out the asian markets.
Harry, you crack me up. Keep the hope alive! I will try not to mock you too badly when the crash comes. Ya silly bastid.
Have to agree - it's nice to hear the other side of the story, and it seems to bring out generally informative and/or funny responses. The back-and-forth is much more entertaining and educational than listening to the NPR/CNBC/ect. propaganda drones.
If everyone is thinking alike, then somebody isn't thinking - G.S. Patton
Talk about not being able to see the forest for the trees!
Wanger, you are such a laugably short-sighted, blinkered pump monkey and idiot that I marvel at you and your feeble, FEEBLE attempt to sell this bucket of turds economy as in "recovery". Yeah, go ahead, focus on the manipulated and fabricated propaganda spit out by the B(L)S, and ignore the manifest signs of not only the pervasive financial sickness in this nation, but the more serious omens of impending collapse of the entire rotten fiat Ponzi scheme, the latest signs of which are even now brewing in Europe.
What you hysterical defenders of the status-quo and financial and political establishments utterly fail to realize is that we are experiencing NOT just a recession, NOT just a depression, but a collapse of the entire financial and monetary order. We are living through a phase-change and the beginnings of a revolution as profound as the Renaissance, the birth of printing, and the creation (recreation?) of money itself. But that is to be expected of people such as yourself, whose self-interests and very identities are wrapped up in the former, and failing, status-quo ---- you lash out in blind denial and anger at those who make you realize, if only briefly, that the world as you knew it is ending, and justifiably so.
Well said akak. Sadly your accurate assesment of our situation will be lost on the likes of poor Wanker.
I'm still convinced Wanger is a piece of performance art by cheeky, chumba or pure evil. It is too funny to be real.
I hope that you are correct, and if not, I pray that the pathetically zombified Mr. Wanger has no offspring to inherit his intellectual vacuity and moral spinelessness.
No, No. I think he's your Treasury Secretary, just blowing off some stress, hanging out & jivin' with the little people. Having a good time, Timmy?
dt
I agree. There was this guy called Mario or something (avatar was Mario) that spoke in stereotyped faux Italian that I was convinced was Marla at one point.
Damn Akak, couldn't of said it any better. Very well articulated my friend.
harry the government data guy
read some williams shadow statistics .
a heck of a difference the truth makes
You might actually have a point, in your own way. Everyone knows the numbers are crap but they still move the market. If the market continues to fall on Greece worries / maybe they'll actually do something about the banking oligarchy worries/ contagion worries / ect, you can be damn sure we will have great GDP #'s on Fri. So knowing that, you may as well buy equities right before the report.
When the GDP numbers come out on friday, I will then wait for the revised figures to come out. Remember those large downward revisions Wanger???
Mr Wanger
Most of your bullish arguments are grounded in freshly released data points that are firmly better than the prior month, or the prior year. Of course, if we nearly slid into a Great Depression 2.0 and (temporarily) dodged it, it is sensible to me that data points will show improvements, and some of them might be dramatic. Perhaps some truck is carrying 20% more corn syrup than April of last year, or perhaps GDP on Friday will show an improvement from the prior month/year. Who cares, other than politicians and short term traders? Those data points do not mean that the underpinnings of this country are equally fantastic.
Do you carry your same bullish attitude with respect to the US dollar? Our debt? Our deficit? And do you think that all the major government interventions into our economy (and other economies) will end cleanly and orderly? Will this all just get mopped up without a trace and forgotten?
Our country is in remission, but the disease is still there. Or have we been cured and none of us recognize it?
when i have the time, i shall post all the great quotes from the 31-32 rally for mr. wanger.
As appropriate as that would be, I am sure that it would have absolutely no impact on him whatsoever. After all, don't you know this time it's different!
I wouldn't call hot money flowing around a recovery so stfu.
Want to give us a way to check that Grantham stuff? It doesn't ring a bell...
Yep, your posts are SOOOO MUCH more fun to read, when I view it as satire!!
You make me almost wet my pants laughing!!!!!
Welcome to 2003 (international, because we love Chinese crap)? Domestic looks "meh" to me.
http://www.transtats.bts.gov/freight.asp?pn=0&display=chart1
The collapse of the Ponzi accelerates...
I am the US taxpayers bile duct.
When does project mayhem start????
Slide.
I am the Taxpayer's wasted life...
you're writing nonsense again, i have to say
IMF funding from USA = 100 billion
IMF funding from Japan = 100 billion
IMF funding from EU = 178 billion
So wtf are you talking about here:
"And yes America, this is your money, going to bail out Greece... Then Portugal... Then Ukraine....Then Dubai....Then Italy....Then Spain....Then Hungary....Then the Baltics...Then the UK....Then Japan..."
The crazy part of it all, the majority of the American public is too stupid to even realize what is happening. They are too busy texting on their I-phones about what music video they want to download for 99cents so they can transfer it over to their I-pod, so they can play it in their brand new Chevy Lemon, while driving to the ABC store for a Forty.
So I guess I don't get it since most of this stuff is out of my league but why do I see in the media that the public doesn't have the stomach for any type of TARP/Bailout again in the US if needed but the media nor anyone else makes no mention of the huge dollar amount we are on the hook for via IMF?
Maybe I am just misunderstanding things but if we are funding to the tune of 100M, is this included in the debt to GDP numbers or is this just held off to the side and not counted?
They won't call it a bailout this time because it's too political. They'll tride to slide it on down our throats and call it "loan". They'll point out how "profitable" the bailouts were for the American taxpayer. :) You think Joe six pack's gonna say "No!"? The financial media are always backing the Fed because they realize it's the only thing keeping the game going for them.
To be clear though, there won't need to be any type of vote or approval for IMF funding; we are members therefore we pay without regard to whether the people or congress want it or not...correct?
FWIW, I was a regular contributor on my local news website until I got banned for making one too many inflammatory comments...you should read the stuff being posted under this story by everyone who are speaking high and mighty and saying that this portends the future of the US and how lucky we are that this won't impact us at all....how do they not understand that it is a direct impact?
This shit makes me sick to my stomach...I am almost glad that I don't understand half of it.
PS: I am a longtime lurker after having followed Denninger for a while...newbie poster though. Thanks TD and team for the education that has surpassed all of my previous knowledge in a few short months of reading. Also, thanks to the regular posters in the comments section who help my learning. Harry Wanger, jury is still out but you are def entertaining :)
Brother, I hear you on the local paper (not that I would ever comment with the rabble). But the commenters are exhibit 1 on how brainwashed this country is. A story about a cat getting stuck in a tree and they start going all dem/repub on eachother. WTF. Peasants soon to be devoured by the machine.
You know what, I used to rage non-stop at the ignorance. Now I say fuck em. They will be the first to go. unless an i-pad is mad of kevlar it ain't gonna be much good.
Don't forget, there is 2 trillion dollars loaned to someone Bernanke refuses to identify. Could it be the Eurozone?
Could that be where some of the money (1.3 t) to pay for the mortgages so far, that have defaulted came from? no...surely not. Whats 100 billion or so to Greece? Ron Paul be damned. No way could that happen, its buried in the big W I tell ya. paper and air are the same, my CONfidence has been broken.
No way, man. It's the Church of Scientology.
It is happening people.
The currentseas are washing out. The new tide will bring some weird form of credits; virtual and theoretical at best. They will be priced by JPM and his derivative empire. Unless you want to do trade without him, count your monie for the last time. Or get Re'Al coinage. Paper is for suckers. You have two years to get your HOUSE in order.
You Need To Diversify Yo Bonds:http://www.youtube.com/watch?v=Qid_WGBrQjA
Futures seem to like this latest Greek rescue news. Started moving up right when you posted it. Now I'm very confident that this reaction today will cause a lot of panic dip buying tomorrow.
Hyperinflation is a hellava drug.
just keep drinkin that koolaid harry
That's right, keep looking at the narrowly-focused and the short-term, and ignore everything else that might make you uncomfortable, no matter how pervasive, serious or unavoidable in the long-term it may be.
"What's that you say, the house is on fire? So, what do I care? THIS room isn't burning!"
now now guys, don't junk harry. he is our jester, we need him.
And a puppy may be cute, too, but if it persists in biting my ankles, eventually it is going to get a swift kick too.
If Harry were a little more savagely anti-gold (not that he isn't somewhat), I could almost mistake him for a Jon Nadler clone. God, now THAT'S a scary thought --- TWO of them!
yeah but every social group needs a lowest ranking member to abuse, good for morale. he is the omega wolf. harry, ya silly sunofabitch.
LOL! I used to have a pet wolf, and he was the omega through and through --- and knew it too. Sometimes I almost used to wish he would show a little more backbone or stand up for himself, but then I would also think, do I really want a wolf who is NOT a natural omega? Probably not.
dude, how the fuck did you have a pet wolf?!?!? like raised from a pup? i thought uh, that they weren't the best pets.
Yeah, from a puppy, and yes, wolves are generally very difficult to manage, if not almost completely uncontrollable. I knew he was the omega from birth, though (last born in his litter, and the smallest), and even with that I was probably very lucky that he was as well-behaved as he was. But he was a good pet, if quirky sometimes, and very affectionate in his own way. He was not the brightest bulb in the canine pack, though, I have to admit --- a lovable dork. I miss our howls together.
wow. i know this is so o/t (sorry peeps), but how did you get one? i love wolves. i like to think of ZH as a pack, though there may come a time when we all have to roll lone wolf style...
I got him from a breeder (since illegal to obtain), and living in semi-rural Alaska made it somewhat easier to keep him out of trouble. And even with his generally good behavior, I tried to keep him away from any large public gatherings or busy settings, as he would always draw a crowd out in public just due to his appearance (he was friendly, but timid in such settings). And I did get shot at two or three times while out hiking with him, when yahoos would see him (but not me) and shoot at "another damned wolf" just to be assholes.
But like I said, I think I was VERY lucky with him, as even many 50% dog/wolf hybrids are more wild than tame, and have to be kept in fully fenced enclosures, with concrete floors, or they WILL dig out! (And oh, how he LOVED to dig! I used to call him "The Excavator"!). To be honest, what I have learned about them since would strongly disincline me from ever trying to get one again, even if I could. But I treasure the experience of having had him.
(Sorry, other ZH'ers, for the off-topic post.)
very cool
I agree, fascinating. How badass would it be to go out walking a wolf next to the neighborhood shih tzus and labrador retrievers.
.
The funny, and sad, thing was, when I would walk him by little foofoo dogs like those, he would mostly just cringe and shy away from their incessant and maniacal yapping. Talk about embarrassing! A 90 lb. wolf with the frame of a 150 lb. dog acting meek in the face of some pathetic 5 lb. ratdog!
But again, I guess that was a better outcome than CHOMP! Which he could have so easily done --- that guy had jaws on him like a damned hyena! Even moose bones didn't last too long around him.
AS,
Absolutely, Harry is our own ZH court Jester! He enables us to see the truth with his puny lies and delusions. So WE NEED YOU HARRY!
Harry, you can keep posting stuff like this if you promise to beg for food when you get to my house after this thing nosedives.
He is welcome to come beg for food at my house too, but he better have silver in hand!
Unlike what the government forces on us as money today, I will not accept unbacked promises when he shows up at my door.
I am liking the skull-and-crossbones theme here.
Avast, what self-respecting pirate would take anything OTHER than silver or gold? Why, he'd be lucky if I didn't just run him through with my cutlass just for spite! ARRRRH!
I wonder is this IMF increase replaces Germany's share? Imagine the state of Greek finances next week. What can possibly be said after the EU-IMF-Greek discussions this week? How can Merkel commit German funds to this farce? Will the Greeks say anything or just sit with a smug look on their face?
Pull the plug. They're done.
The sucker everyone into using the dollar, so we can build a ponzi defense empire is starting to gasp. Have to fanangle a few more years until our corporations get their nails into the next empire china. Without a proxy police force, i.e. goverment military, the corporations are naked.
besides that, we dont all want to be without work. The FED will be usueless and the american consumer will have to produce something.
Thats gonna suck.
45 Billion doesn't even pay the interest on the last 2 sets of bonds they sold does it?
You cannot provide 2nd -3rd- 4th Mortages.
The debt load must be lightened via a big haircut to the Lenders. Was all hunky dory until now - now you have a contagion and the infection will spread.
LTCM and Lehman's all over again - they never learn debt is an addictive drug and the junky Nations are having their supply cut cause they can't or won't pay.
"By far the greatest risk is pathological procrastination by the debtor in face of an obviously untenable financial situation."
- Lee Buchheit, leading sovereign debt lawyer, as quoted in The Economist on the subject of the biggest risk in most debt-restructuring cases is governments that tries to put off the inevitable.
And, as an earlier poster cleverly wrote: TTTTTTTTIIIIIIMMMMMMMBBBBBBEEEEEERRRRRRR!!!
Amateurs.
Just a quick flash here.........................we may not have any REAL money in the system, but we are still one, if not the richest nations on earth.
WHY did the Feds snarf up 90 million acres of the Western states(where most of the known natural resouces are), how do we get out of this debt?.
Simple, we turn over our LAND, and the mineral rights to it.
We have the largest known Nat Gas reserves in the world.
We have (known) oil reserves at least as much as Saudi Arabia, and Iran..................not counting what's not been found, nor off our coastlines.
Our collateral mi amigos y amigas is America's the Beautifuls Resources, and Property.
Don't think these fools would not hand it over?,hey spend Globally, screw locally.
what do you mean snarf up? that was all federal territory there before they were granted statehood. thats why you don't see that in the east.
not sayin it doesn't suck, but its been that way forever.
I actually, felt good for a few hours today after watching the GS hearings.
And, then I turned on cnbc. Truly, the cnbc "journalists" are scum. They are lying, cheating, hypocrites of the worst kind.
c-span = no asshole making inane comments, no commercials for shit i don't need.
I actually, felt good for a few hours today after watching the GS hearings.
And, then I turned on cnbc. Truly, the cnbc "journalists" are scum. They are lying, cheating, hypocrites of the worst kind.
Definitely worth repeating.
I am buzzsaw99's raw seething anger.
It's not just US taxpayer money:
http://en.wikipedia.org/wiki/International_Monetary_Fund#Members.27_quot...
US has a 17% quota on the IMF. But Japan has a 6% quota on IMF, so it's japanese taxpayer money too.
Saudi Arabia has a 3.21% quota, so it's saudi taxpayer money too.
Even my money, as a humble brazilian taxpayer is there too. Brazil has a 1.40% quota on the IMF. (And it reminds me that next friday is the last day to pay the federal income tax here in Brazil... Ouch!)
I am Worlds total lack of intelligence.
Slide.
i feel like i'm missing something with the 'slide' lingo...
It is what the main characters power animal, a penguin, told him to do "slide" in Fight Club.
http://www.youtube.com/watch?v=boj75h3urLU
...and...
http://www.youtube.com/watch?v=AN8Rta1-2zk
You just have to give it to these guys. How many different ways of stealing money could you think of?
You'd be surprised...
Goldmans strength is it's "talent" so they say. They must give billions in bonuses quarterly to retain this said "talent".
What is there to stop them from issuing gazillions of Goldman options to the talent and then running up the price of GS stock to $1,000 with say $100 billion of borrowed Fed funds and then cashing out with Sachs full of Gold man... leaving the smoking ruins to the US taxpayer and starting up shop somewhere else?
Just askin' :)
Good IMF. Speed up the process. I am getting anxious. I want to reach my Orgasm. Im tired of Jerking my Wanker
+1000
this is getting ridiculous..
you can't bail everyone out... you can't. not too mention a bail out here fixes nothing.
if only everyone in the US knew that the 10 billion for this bailout is 28$ out of the pocket of every man, woman and child in the US.
so a family of 4 is shelling out 110$ to bailout irresponsible greece.
banks, greece, portugal.. who cares.. bail them all out...
fuck it.
Thats the attitude. Fuck it, Smoke a joint , Drink some wine and watch the IMF create a huge Cumfest
$110 is a lot of goddamn gyros and baklava.
They're freakin' over Euro contagion. It's spooky enough watching the little dominos fall. But the abyss lies just beyond: the big economies are starting to wobble under the weight of debt. Today Fitch mentioned Japan. UK already got it's little warning. And both of those are having serious political issues that could easily turn into crises. The doodoo is deep.
So many of you are right -- this is a circus, a ponzi scheme, a three-card monte. The lines blur between the regulators and the regulated as all become shills for the con.
Greece is but a side-show. The most spectacular collapse is a way off: hyperinflation is all but inevitable but it will, for a time act as a palliative. It will drive up the price of real assets as well as financial (labor costs remain subdued by unemployment, pricing power returns and profits grow).
As the Fed begins to divest, shrinking the money supply, the relentless climb of interest rates accelerates, driving up the UST's funding needs. Next will be a couple of failed auctions, since neither the Fed, not the Chinese will be in any mood to buy rapidly depreciating paper.
There is another alternative but it is even uglier: war to secure more assets to borrow against.
What else could we do, repudiate?
As the World Burns
- Nikkei
10,912.55 –2.68%–300.11- Hong Kong
Hang Seng 21,261.790.00%0.00
- Shanghai
2,866.86–1.41%–41.07
"Where does it end? 100 billion? 1 trillion? 1 quadrillion? And yes America, this is your money, going to bail out Greece..."
"You're not getting this back. I consider it an asshole tax."
...consider it an asshole tax.
Very astute. That's exactly what it is because that's where we got it from in the first place.
Man I wish I could pay my taxes out of my asshole.
You can wipe with Bennie Bernank-ster Bucks... if that makes you feel any better... sss-slide...