Live Feed From Athens As 100,000 Greeks Go On Strike, Consider Storming Parliament Again

Tyler Durden's picture

The last time Greeks were shown to be storming their parliament on live TV, we got a 1,000 point drop on the Dow Jones. Today, another 100,000 protesters of austerity are expected to hit the streets as the entire country is essentially shut down. From the BBC: "Much of Greece's transport network has been
immobilised, as trade unions stage another 24-hour general strike
against austerity measures. Ferries are tied up in port, railway stations shut, and the Labour Ministry occupied by communist protesters. Organisers are hoping that up to 100,000 people will join protests on the streets later. There are fears of renewed violence after protests in Athens two weeks ago led to the deaths of three people. The country's main civil service and public sector unions say they represent some 2.5 million workers. "People are bleeding financially but they will
participate in the strike," Ilias Vrettakos, a senior member of the
ADEDY union, was quoted as saying by Reuters." And for those who wish to follow the strike and potential Storming Of The Parliament Part 2, here is a live feed from the main Parliament square. 

 

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jkruffin's picture

This saves the government instant money right?  They don't have to pay them while they are all on strike.  That could be a good plan for the government to cut expenditures.  :)

B9K9's picture

To an individual who personally committed to a credit agreement and utilized/enjoyed the use (investment, consumption, etc) of said funds, the choice between dramatically reducing one's future expenditures (austerity) or saying "fuck you" & defaulting result in essentially the same outcome: a drastically reduced living standard.

In truth, there isn't any real difference between the two options since laboring to service an un-payable, exponentially growing principal+debt balance eventually results in default anyway. So the key is to not only default first before wasting any time attempting the impossible, but also to move quickly in order to try & keep the underlying collateral.

Now, take the exact set of circumstances as above, but replace individuals who both committed & enjoyed the use of funds not only with other persons, but other peope from a different generation (ie younger) who weren't even of voting age, or weren't even born yet, to shoulder and accept paying the debts of an older generation!

Yeah, like that's gonna work. It's cliche, but what we're seeing in Greece will soon visit the USA. There is simply no way in hell younger generations are going to accept laboring as debt peons under dramatically reduced living standards in order to pay off debts incurred to support extravagant standards of older generations.

Renfield's picture

Hear, hear. Flag as Gold.

TBT or not TBT's picture

Well there will be a lot less working age, voting age, tax paying-age Greeks in the future, thanks to several decades of low birthrates in that country.   Italy and Spain are similarly doomed.

peripatetic86's picture

Can anyone foresee this ever happening in the good old USA?  Is it even feasible or would it quickly turn into a Kent State redux?

Psquared's picture

Everybody doesn't work in a government job in the US - at least not yet. So no, I don't foresee this happening here. To my knowledge there has never been a general strike in the US although I think there have been attempts at it.

Could it happen in the future? Yes, if we continute down the path we are on and then the government were to say, "oops, we don't have enough money to pay you, the bankers stole it all."

I think, back in the 1870s, when railroad speculation collapsed and drove the economy into a 6 year depression (which the government allowed and did not interfere with Keynesian spending - of course Keynes was unknown then) there was some violence in New York and a few bankers were dragged out in the streets and hung from lamp posts. But we are much too civilized to do that now.

TBT or not TBT's picture

Keynes was also relatively unknown in the early parts of the depression.   FDR met him at some point but was unimpressed.   His ideas, I'm not going to say theories, backed what the power mad freaks in government wanted to do and were already doing anyway.   The whole thing was a "just so story" that isn't so, but met the ends of statists and true believers in central planning. 

Marley's picture

Think more along the lines of New Orleans.

Citizen of an IKEA World's picture

Is everybody in?
Is everybody in?
Is everybody in?
The ceremony is about to begin.
WAKE UP!

Sudden Debt's picture

Popcorn : CHECK

2 bottles of cola : CHECK

anybody needs to go to the toilet? PLEASE DO IT NOW or you'll miss the show! :)

Cheeky Bastard's picture

Smokes: CHECK

Internet: CHECK

Oxygen tank: CHECK

Lets roll nigga ...

Sudden Debt's picture

I like your preperations better :)

Renfield's picture

Where's Chumba? Seems to me this would be his kinda thread. Dude can DO anger.

Cheeky Bastard's picture

Its early in SoCal.

6:40 am.

Sudden Debt's picture

If you math works out, the DOW will go negative today :)

DOW : -89521

 

They Tyler! Look into the Belgium austerity measures that will begin after 16 june! 4800 euro per person needs to be taxed EXTRA to meet budget deficits! They already pay 52% on wages, and 21% on all the rest. As the capital of Europe (Brussels), that should be interesting :)

 

duo's picture

Don't we have to extract $13,000/year  PER HOUSEHOLD in the US to balance our budget?  I think that comes to $25,000/year for taxpaying household.

nedwardkelly's picture

What makes you think they have any intention of every trying to balance it?

tonyw's picture

and as an employer I pay more than 30% on the wages of my staff:-(

 

suteibu's picture

A guy on CNBC is blaming pictures of Greek riots for market volatility (tanking).  It's all your fault Durden.

Sudden Debt's picture

nice... the media saying it's better to keep the people ignorant...

could work...

silvertrain's picture

 I saw that, lol@he wanted them to cut it off..

metastar's picture

Just wait until the summer heat really starts making people crazy!

Mako's picture

I told Harry to hold onto his 10,000 party hat.

Duuude's picture

First Bellysnort of tha day!

economicmorphine's picture

It is fascinating to watch the hubris of man at work.  The Greeks will destroy what's left of their country out of self-righteous indignation, never quite grasping that their government can no longer give away what it has given away in the past because the cost of borrowing hsa gone up.  Speaking of never quite grasping, none of the rest of the world will grasp that they are in exactly the same boat as the Greeks.  Fascinating.  

Postal's picture

+1 "All I know is my children are hungry and I don't have a job." Of course, that's somebody else's fault/responsibility...

TBT or not TBT's picture

Its like the cargo cults various island cultures developed after the departure of the GI's from Pacific Islands during WWII, but even dumber.   The cargo cults cleared "landing strips" and made "control towers" and performed ceremonies begging the american gods to come back with their amzing supplies of food and tools and goodies, to no avail.   The difference with the cargo cults is they can be forgiven for not understanding how all that material wealth came to be.   The Greek rioters have no such excuse.   

primefool's picture

You dont get the deeper game . You see all these silly natives with "antennae" stuck to their heads running around pretend control towers - will be a Huge Tourist Attraction. The tourist dollars will be much greater than any imagined "cargo" that they were praying for!

TBT or not TBT's picture

And I thought vacations in Greece were all about the sea, sex and sun.    They could get that reputation going again if they could stuff the protests with bronzed eye candy, show that on the news.   Maybe Greece can be saved after all..if it they can find some bronzed eye candy.  Birth rates haven't been all that great for the last several decades.

RockyRacoon's picture

There is still MILF-candy.  Must be popular or there wouldn't be an acronym for it.

PhotonJohn's picture

The problem is that it is the wages of the very people that make things work (not that efficiently maybe) where the cuts always start. Not the funding to programs like "what are the effects of smoke on monkeys" or farm subsidies to corporations like Monsanto. Do you think these "statesmen" that we have, most that do not need a pension or paycheck, would ever say "you know what I do not need this and I am willing to do it for free until we can fix it"? I am all for cutting government but there are better places to start. I think this is what the protests are really about. Maybe I am just to blind to see it.

snowball777's picture

Primus - Pudding Time

http://www.youtube.com/watch?v=wkS11FsA2cs

You can have a lolly pop 
A candy bar a jelly bean. 
I'll buy you a rainbow 
To hang above your door. 
It's pudding time. 
Laughter is a sweet 
You can't put a price on. 
When laughter's all gone 
Daddy won't buy you more. 
It's pudding time. 
It's pudding time children. 
Money money monye 
To buy you things. 
Daddy's gonna buy you a 
Diamond ring. 

Humpty Dumpty sat on a wall 
Humpty Dumpty had a great fall 
All the kings horses and all the kings men 
Couldn't put Humpty together again. 

San Francisco bay the  Gulf of Mexico

Striped bass are dying. 
But you're gonna get 
That brand new bike 
Oh joy 
It's pudding time 
It's pudding time children.

bobby02's picture

Economis stimulus and recovery program: burn down lots of buildings -> construction spending -> jobs -> boost GDP -> better tax receipt -> narrow bond spread.

It's brilliant! You don't get to be a 3000-yr old civilization for nothing.

Sudden Debt's picture

It doesn't end there!

 

burning bank employees -> hire new people -> shrinking workforce -> supply><demand = wages go up -> wages go up -> higher tax receipts -> narrow bond spread

old_turk's picture

OR:

burn down lots of buildings->move to Albania to herd goats->lots of rubble->no GDP->stiff everybody.

Who knew national strikes = national sport in Greece?

contrabandista13's picture

"......national sport in Greece?..."

naked men wrestling with naked boys.....

That kinda explains it all....

Best regards,

Econolicious

TBT or not TBT's picture

You forgot the "burning people" part.  They already partook last time around.  Two employees and a pregnant lady, a four-fer!

AnAnonymous's picture

Lets see if this time the Greek government deploy more than a dozen of riot control police officers to protect the parliament.

Else...

UGrev's picture

All the police need to do is "Put some windex on it".. LAWL!!

nedwardkelly's picture

So I actually watched a few minutes... Thought "wow that looks pretty tame, hardly any people". They were all just sitting around chanting, blowing whistles etc. Hardly violent or destructive.

Then a bunch of cops on bikes showed up and it actually looked like the protestors had found something to get excited about. Then all the cops just rode away.... Back to being tame.

Renfield's picture

Cynic. You probably yawned your way through the Y2K crisis too.

Jeff Lebowski's picture

Watched that as well.  It was anticlimatic.

I think what you're missing is that the people whistling and chanting are off camera.

TBT or not TBT's picture

Maybe the media corporations thought better of "if it bleeds it leads" on this particular topic, after the flash crash.   This time it may be tape loop on bored strikers having a day off work.

Sudden Debt's picture

it's still noon in Athens, people first have there siesta!

Never break tradition he :)

They get out of bed around 4 o'clock (another 2 hours)

Renfield's picture

Hmmm. Switzerland may be called on again in the coming week to swallow up another three economies' worth of euros.

Maybe some of those revolting peasants are actually speculators in disguise, doing what works best to get more of that Swiss-paid fiat in their pockets.

The War on Speculators is shaping up to enjoy the same success as the War on Drugs, War on Terror, War on Poverty...

ETA: May not have to wait until next week. Strikes in Greece, Romania, France (upcoming); critical bankster bailout vote tomorrow; upcoming German transaction tax; upcoming pan-Euro short-selling ban; capital flight into Swissie; breakup rumours every day hotly denied; oh and no workable solution of any kind put forward. And EUR up on steady buying, natch.

jkruffin's picture

Benny and Timmy are in closed door meeting right now planning the QE 3.0 introduction.  The start of the hyperinflation model.  See you at DOW 30k, Gold 3k and Silver $300 before the collapse begins.  Once they stop the market trading, you know the money has system collapsed.

Goods's picture

Leo what is your take on the riots going on in Greece, people there seem very restless about the austerity measures?

calm will be restored when the trillion dollars starts being felt in the financial system.

I see. But Tyler seems to be connecting the May 5th stock market crash to the riots in Greece?

Tyler, please, next time, wait to embed the interview before inserting your foot in your mouth!

Thank you for your time Leo!

Now, back to my favorite porn site. 

Canucklehead's picture

Goods, just a marketing observation.  The first few times you posted this it was quite funny.  To some it is now getting a bit stale.

I think you need to "juice" things up a bit or you may be seen in the same light as the "caricature" that you are presenting.

It's your call.