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M.A.D. - Meet Nuclear Fission
And so Olli Rehn, piggybacking on all the recent nuclear hysteria, takes Mutual Assured Destruction to a whole new mushroom cloud level:
- REHN SAYS A DEBT RESTRUCTURING COULD CAUSE A 'CHAIN REACTION'
This is better known as "MAD - Fission" Fusion
And some other exercises in MADdening:
- STRAUSS-KAHN SAYS GREEK GOVERNMENT `HAS BEEN VERY BOLD'
- STRAUSS-KAHN SAYS IMF AID TO IRELAND, PORTUGAL `WILL WORK'
- REHN SAYS CANNOT SEE PRIVATE SECTOR INVOLVEMENT IN DEBT RESTRUCTURING UNDER CURRENT FRAGILE SITUATION IN EUROPE
But, but, the recession ended 9 months ago? Unless of course those wily NBER "economists" were only keeding...
Yet this one is FTMFW:
- STRAUSS-KAHN OBAMA BUDGET PLAN `GOES IN RIGHT DIRECTION'
$300 million in cuts on $20 trillion in deficits... Can excel even calculate that?
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I don't know how any debt restructuring will take place w/out shit hitting the proverbial fan...
In an unrelated note to Robot, AAPL is getting ripped apart like a piñata at a Tijuana birthday…Down over $2 today alone and down over $30 from its high…Where is your Steve Jobs God now, you little dweeb? Actually ask your business teacher.
Just wait until its no longer deniable that Apple cant get any parts from Japan. That Apple is full of worms.
PS- Dont mention Robos business teacher to him, he breaks down in tears at the thought of more locker room touching.
ha ha ha. I can guarantee Robot is the modern day equivalent of Lucas.
> "I don't know how any debt restructuring will take place w/out shit hitting the proverbial fan..."
Exactly. The "chain reaction" he's talking about is a deep flaw in their business model, and is frankly, their problem. If their business model is so-flawed that a butterfly's wings can set off armageddon -- then I guess immolation is bound to happen.
You want us to fix that for you, Mr. Banker? ...Do I see you blowing all of us?
In different contexts, and usually when they are desperate, They have admitted many times that "we are/were at the edge of a cliff" and that the entire system can come down any second. The MSM never focuses on that aspect of what they are saying.
They will do everything to avoid a default of the system that benefits them so handsomely. We must default on them.
While we love to talk smack about "sheeple", I think that most people on at least some instinctive level know that either things get better - or fuck it we are all screwed, so party on. This shit has stalemate written all over it.
In German Media there is a report about the meeting of the BRICS countries and that they will rather trade in their own currencies than in the Dollar. They want to get rid of the Dollar dominance. It's not really new to some of us that are following this story, but this meeting is all over the news here. I don't find it even mentioned on the English Google News page.
http://www.businessinsider.com/bric-leaders-challenge-western-monopoly-a...
No country for old men (watch those fleeing. some don't make it. So too the wheelchair bound)
http://www.liveleak.com/view?i=32d_1302646038
That village is the world marketplace destroyed by excess liquidity.
And we pretend (through changes in the unit of account) that we are on sufficiently high enough ground that we will escape.
When everything we materially value is fixed on the ground below.
The dollar as the reserve currency has been an advantage but I'm not so sure that, ultimately, we don't want it to lose its status. Look at the trouble it's gotten us into thus far.
He sure knows how to keep up with the fads nowadays. I bet that guy made a killing trading pokemon cards.
He suffers from Hyper-ventilation. I recommend a cold boron shower.
"$300 million in cuts on $20 trillion in deficits... Can excel even calculate that?"
Hooray for double precision floating point. 128 bits FTW!!!
It's all over people, I wish we could just get on with it.
It doesn't hurt to keep preparing while you can...I am fine over-preparing as the case may be.
But yes, anyone with an IQ over 70 (roughly 6% of the population) is ready to rip the bandage off...
97.9% have IQ over 70.
http://expressiveepicurean.files.wordpress.com/2010/01/iq_bell_curve.gif
I guess you have never been in a public place...
This is a dupe so I'll make some use of it. This guy knows full well that his comments move the euro, it is possible that he does not see the euro's determined trudfge higher as a good thing so he is trying to influence it down with his hysteria. Or he just doesn't know what he's doing. As stupid as he sounds I doubt it.
It's all over people, I wish we could just get on with it.
You said that already.
Guess what, sports fans. If you're running a bank and you know how this plays out YOU DO NOT DIVEST YOURSELF OF SWAPS.
No, you INCREASE YOUR EXPOSURE.
Why? To show it to your government puppets and explain carefully to them what happens if it blows up. If they ask, Why didn't you divest? Your answer is: We have to go to war with the Army we have. This is the situation that exists. We can't make it be something different after the fact. So . . . you need to do whatever you must to prevent defaults. Now, if you will excuse me, I have a more important meeting than you, Mr. Prime Minister. That will be all. Have a nice day.
There needs to be a behead a banker day in Europe just the way William Wallace would do it! I am still waiting for the IRA to deliver Rehn's head in a box to be delivered during a G7 meeting..
Which recession did you think ended 9 months ago?
The same one that started up again 8 months & 29 days ago.
From Engadget.com (data provided by IDC & Gartner)
1Q11 total US PC shipments down 10.7% vs. 1Q10
http://www.engadget.com/2011/04/14/idcs-latest-pc-sales-stats-show-why-acer-needed-to-make-a-strat/
Ouch
NEWSFLASH CNBS Steve Liesman:
"people are making a bigger deal of the debt than it is"
Right, the debt is obviously no big deal. I mean, other than being mathematically impossible to ever deal with....other than that no big deal at all!
All they need to do is to buy enough time to ZIRP the entire curve, and "POOF!", they can roll to infinity.
Just gotta clear the minefield first with a little IMF QE.
What do you mean, impossible? All that you have to do is devide by that square root of negative one and the whole equation becomes easy to solve.
By the way, what is the mathmatical symbol for unicorn again? I always forget that one.
think this could be legendary statement (depends who's lender and who's debtor)
:-D ha ha ha
Can ZH establish continous thread for collection of the greatest bullshit statements and "opinions" from MSM and "nobel" winners??
... we could also continously vote, propose etc ... final and intermediate ranking BS awards etc
after all, these are epic times and so is the amount of crap served everyday
It's all over people, I wish we could just get on with it.
You said that twice already.
Now thats the best avatar Ive seen in a while.
Get em while ya can!
Speaking of Mutually Assured Destruction...is anyone else measuring the "GETCO" effect in equities today? Holy crap...if this does not end up being a breakdown day, well, then I am not trading and this is all a hallucination I am having right now. Someone quipped to me a couple days ago, saying "Selling makes stocks go up now." Prophetic!
And here comes the President. Will they buy Presidential remarks?
Bring on the zombies!
Additional:
However, selling on Apple still makes that one go down....so there is that.
barry over the edge
http://online.wsj.com/article/SB1000142405274870373010457626091198687005...
Thats Apple is full of worms, and the news that Apple has parts shutdown from Japan hasnt even entered into the cult-like Apple stock minions minds yet.
You know Dog, I could not even tell you whether or not Apple products are great. I don't want to be zombified, so I don't touch them...but what I do know Dog is that the very best shorts are the most ridiculously over crowded longs...and I simply believe there is NO ONE LEFT TO BUY SHARES OF THE WORLD'S LARGEST ZOMBIE MAKER.
And yes...Apple is hiding a lot of things lately, including Japan and the health of their main man [did folk forget that one?]
Is that you Bueller?
Im using an Imac right now, its a good computer. But the cultish nature of the company and its stockholder minions gives me the willies!
NFLX rollover alert! CMG reversal alert! AAPL breakdown alert! Has a GETCO algorithm died? Are algorithms alive in the first place?
Now...I'm sure these things are bullish...in some weird, reverse double pathological, MAD, Banana Tree Republic, criminal reserve fractionalizing sort of way. Li'l help? My brain doesn't work that way.
Unbelievable, So they are going to wait until the whole fucking thing collapses to do something. God help us all!!!!
Right! Why deal with it today, when theres always tomorrow and besides $9 burritos and lace bras are plentiful all day TODAY! Scam it all today, to get thru today, in order to try to scam it all up again another day!
That is the southern european philosophy in a nutshell.
Please expand on the lace bras?
Oh that was in reference to Robo's chart of the day, some lace bra stock.
If you owe the bank $1,000,000 - the bank owns you. If you owe the bank $1,000,000,000,000 - you are both too big to fail.
Better to have 'zombie nations' than 'zombie banks' is the 'new normal'.
So according to Rehn it's responsible policy to give hundreads of billions of new debt to insolvent sovereigns. Put 80-100 billion more debt a piece on the slim shoulders of Portugal and Ireland on top of the old debt they can't pay back. That's roughly 50% of their annual GDP! And the long forgotten Maastricht criteria says debt/gdp shud be 60% top. So this makes the debt situation sustainable? Loooool!
The lazy southern europeans want a permanent subsidy or they will commit. M.A.D.
one hundred billion per year forever, inflation adjusted of course.
Hey shit for brains,eat $41 Silver.
Japan to begin a damaged reactor
http://dawnwires.com/politics/barely-a-month-after-the-fukushima-disaster-japan-to-start-world-largest-nuclear-reactor-it-is-damaged-and-unsafe/
Of course, the headline should be:
REHN ADMITS CURRENT SITUATION IN EUROPE IS FRAGILE.
Then the markets could really rally.
So can Mr. Rehn simply prohibit Greece to default on its debt?
*must*hit*ctrl*p(rint)*
The Weimar Sequel starring Jean-Claude Trichet?
It's like that example they give you at the museum to put geologic time in perspective. "Blink...that's how much time that mankind has been on earth"
our government never intended to pay this debt back, and here's why... http://youtu.be/x_xsm46s2Gg
Oh...and as the PIGS literally go down in flames, and curious Wall Street terminators buy Euros, and Steve Liesman does the old soft shoe in front of the debt clock and tells everyone things are just fine, enter the soft-headed apologist John Harwood to throw as much political gasoline onto the budget situation as humanly possible, talking about how the Republicans going first with proposed cuts was good so that President Obama could punch back at them...and...today...Euro...Chipotle....white iPhones...criminal bank probe reports...zombies...
Fuck me! Testing...testing...is this thing on?
At the network level, this BlowHorn thing is simply more proof of the Marxist conspiracy at work in America. What other possible explanation would the BlowHorn have? Do they somehow think they are taking the other side of a reasonable argument about the US debt issue? Are they really out there to defend $20 trillion in debt?
OR do they have another motive for trying to throw as much garbage into the political gears while a precious few DC zombies make a first stab at even talking about the issue?
Good grief, pass the hopium pipe, brother. I need me some of that stuff.
I guess the BlowHorn is full of optimistic sunshine and unicorn dew enema junkies who say $20 trillion debt is certainly better than $40 trillion debt!
On second thought, nah, just a bunch of boot licking whores.
If you were to throw out all the nicities, how would you rephrase that?
Why are the whores licking boots?
I enjoy reading your comments, not only because they're insightful & funny, but because they also provide an interesting perspective from one who is apparently still dealing with the truth of the matter. (That is, 5 stages.)
Keep up the witty remarks - when your posting activity declines and your preparation effort increases, you will have finally reached acceptance. Perhaps at that point, you will begin to notice some around you who no longer bother complaining/analyzing. I mean, what more need be said?
Best to just focus on the business of being ready.
Nice to see some old regulars posting again over the last couple of days anyhow.
Stalemate is the word of the day:
-In Libya Qaddafi forces advance, controlling all major Western cities and stalemate is feared
-in EU countries are now divided over Portugal bailout and Greek bailout, Bond restructuring possible, while in Ireland GDP forecast cut today putting 100% GDP bailout at risk. Irish people got a bailout but now are opposing it.
-In US fiscal austerity has degenerated into a political stalemate where no agreement could be reached except to make cosmetic changes
-In Middle East popular uprisings threaten old political oil allegiances but NATO forces are spread thin and uncertain which side to back
-Fed got its inflation, but unemployment, housing and GDP are not picking up
Stalemate
stalemate or stalling play before inevitable checkmate?
Stalemate can go on for a long time before inevitability is reached
oohhh, I used the same term (stalemate) above. No plagerism intended here. I hadn't read down this far in the post yet.
But... YUP. Folks have dug in too. Uncomfortable staring will ensue. Sooner or later someone is going to get punched in the eye. And it will be on...
DSK is doing a strange two step : He is officially known to have said recently that Spain is a sound economy without the perks of Portugal, Ireland and Greece. Strict government budgetary measures meant that no haircuts and bail outs were necessary right now AND THAT THE MARKET KNEW THIS AND WOULD ACT ACCORDINGLY IN CURRENT EU SOVEREIGN DEBT CRISIS. Brave words from IMF leader on THE MOST IMPORTANT DOMINO which is then contradicted almost immediately by the official IMF report saying EU's fragile sovereign debt and insufficient equity injection meant big problems for banking sector in EU; unless their was more fiscal injection and debt reduction taken by all concerned including private sector banks.
Who to believe in this game of right hand denying what left hand does in IMF shenanigans?FED/ECB/IMF are all tied up in knots trying to face save a lost cause and nobody wants to be left holding the shitty can of worms at the end of the day...Maybe China is IMF's hidden trump card in Spanish omelette!
What happens if you kick a "shitty can of worms" down the road?
I'm starting to lose count of the number of times that this two-step has happened: reports start to appear in newspapers that the IMF is calling for some action that the ECB and EU Commission doesn't want to be taken, then there are denials, then DSK surfaces to make the denial in person. Is there some kind of civil war going on behind the scenes between the French presidential hopeful Strauss-Kahn and other figures in the IMF? (Maybe the whole permanent staff?) I'd love to know what's actually going on.
However much Ollie denies it this subject keeps coming back to haunt him and the Greek government. I read this on the subject yesterday.
But then the author of this is usually right and Oliie is usually wrong...
Rehn is a fuckin' nazi.
Ireland is his Bunker.
At some point creditors are taking a hit for this absurdity. That starts a whole new era in the marking of inventory.
Socialism dies first in europe.
Who would have thought that?
The southern europeans are running out of OPM.
How do you like your brave new world, global central bankers? Stagnation and Stalemate everywhere. It's what happens when you short circuit creative destruction
Duplicate
I am banker, I am not allowed to loose money, the entire world economy depends on bailing me out for my mistakes while I rip of off and miss price risk. the world is great, kneel at my feet slaves, hahahahaha....
Let this system fail. It has yielded no benefit for the real economy, for real people. It has served only as a mechnanism for the top 1% of the world to continue to prey upon and steal from the rest of the social class. It is a classic case of social class genocide-- Hitler and his cohorts could only dream of this kind of worldwide domination. These institutions have failed miserably and only function now as a shell for the banking cartel to impose their will upon the masses.
The fiscal plan is a joke. Obama's administration and presidency is a joke. The IMF and Worldbank are a joke. The EU is a joke. To give any real weight and consideration to what these people have to say you'd have to be a fucking moron-- thus it is not up to these idiots to say what will and should happen. It is up to all of us-- in our own individual ways and rights to declare what system is best for the world. These fools have been wrong and have gambled the future upon it and lost. It is time for them to be removed.
Here, hear. Aldohux. Wicked people.Wicked.
Rehn is on fire today. Wonder how much he's smoking in order to keep this spin coming... I think it took two weeks for Portugal to roll over after Rehn said the same abt them.
04-14 11:29: EU's Rehn says Spain will overcome its challenges "well"Olli Rehn is a corrupt agrarian politician from Finland, a frigging moron too.
Haven't the cross-linked banks had literally *years* in which they could've gotten this shit off their sheets at *any* time?
If they haven't by now, we should consider it evolution in action. Traders too stupid to know that their first loss is their best loss deserve to disappear.
Rehn is fear mongering due to parliamentary elections in Finland this weekend, to scare the True Finns party supporters to vote the same old same old corrupt established parties.
From what i've read he tried to step into the finnish domestic policy and demanded a "responsible" action from the new government ie the same ol same ol ponzi perpetuation. Finnish opposition leaders basically told him to piss off and stop interfering in the domestic politics and the upcoming election. He's afraid of the anti-euro True Finns and now the social democrats too as they are demanding burden sharing immediately.
Don't forget our obligations people - The Libyan "Rebels" now need a loan:
http://www.bloomberg.com/news/2011-04-13/libyan-rebels-seek-2-billion-loan-as-allies-ponder-steps-in-qaddafi-fight.html
Brother can you spare a Kalashnikov ?
$2 BILLION wow that buys a lot of AK's and ammo! WTF, can we declare ourselves 'rebels' and get us a few billion here??
The Keynesian brain trust has set the path for the new global depression.
Great job, peeps!
If Keynes were a medical doctor, he'd certainly prescribe heroin for those suffering from high blood pressure and cocaine to those experiencing narcolepsy. Eventually, everyone would be a junky.
Hopefully, we'll see some real progress towards murdering Keynesian Ideals, along with the nefarious IMF & World Bank, this go round...
SHADOWS OF THINGS TO COME or WE'RE JUST GETTING STARTED
So we have unleashed global monetary liquidity destroying all but the uber-wealthy, politically connected, or Too Corrupt To Prosecute. Mirrored, we have the Tohoku Tsunami of real liquidity grinding away all the works of men and men themselves, returning them to dust in a tidal mortar-and-pestle. Those that suffer the worst are, again, the aged and infirm and slow and weak and poor. The dislocation is instantaneous and only the super-nimble escape. Simultaneously, in another crucible at all major nation treasuries, the debt meltdown increases in vigour. Debts must be rolled to pretend debtors can really pay what can NEVER be paid. Counterfeiting and check kiting aren't enough, Tsunamis and oceans of money creations aren't enough. Indeed, the monetary and fiscal pressures have shattered containment. Japan must roll debt THIS YEAR amounting to at least 55% of GDP. (And that GDP was Pre-quake, tsunami, nuclear meltdown), but the pensions, insurance fund, gov't response require creditors demand return of capital. NEVER GONNA HAPPEN. The USA is attempting to make us believe it will go down the road to austerity, NOW? After what we've seen and experienced in the last three years? They promise to behave. They can save the asset, they can mopup the spilled instant lethality already leaked, we can restart the economic reactor. All will be well again, Happy Days. Like a drunk which has begged, borrowed, and stolen but is going straight, sobering up. For good this time. Scout's honor. Just need 5 bucks for a good meal and a good new start. But they are panhandling this line in the liquor store parking lot. We've sprinkled monetary plutonium throughout the globe and into every food chain, but we can hoover it all back up and start again.
What price now, peace of mind and security within your own genetics? Money or mutations? How about none of one and all you can eat of another?
Unseen too are the monetary meltdowns, but felt are the effects as food and fuel and simple taken-for-granted everydays like air and water which are being priced and polluted beyond the reach of everyman. Likewise and insidiously, a GE-made (is that for General Extermination) nuclear plant sits leaking and spewing contaminant. Its not enough having been designed like a cartridge with an iron and concrete cannon-body container, charged with the heaviest and most unstable of elements, and capped, like lead shot in a shotgun shell, with containment pools of lightly sleeved spent uranium fuel pellets above. Having gone out of man's control, nature has taken her course, and exploded these most toxic compounds and isotopes throughout the landscape. Where we witness "inadvertant criticalities". Isn't that what is occurring everywhere? Inadvertant financial collapses, inadvertant political revolutions, inadvertant wars--and natural disasters and plagues (seen and unseen) of every garden and test-tube variety? Steam, smoke, emissions penetrating our air and entering jetstreams; irradiated isotope-carrying waters flushing into our over-fished red algae plumed already-tarred-up-with-BP-folly reservoirs. Funny that these nuclear disasters seem predictive. Three Mile Island (1979) just before another layer of Chinese slaves and industry transfer laid a new layer under the faultering pyramid scheme, Chernyobl (1986) just as USSR was sundering, now Fukushima (scales of magnitude worse) as Japan is keel up.
Nothing quite so hard for this world as seeing Japan cope with earthquake, tsunami flood, loss of homes and homeland, PTSD and knowing that unseen they are breathing and ingesting (and will be for many, many years) tissue destroying, chromosome battering material nestling in their lungs, thyroids, and bones.
Plagues, loss of homeland, loss of safety and security, loss of peace of mind, loss of control in the building block and nutrition governing one's health.
Loss of control. Of the money, of radioactive elements, of containment, of one's body and peace of mind.
It is more now than loss of morality or conformance to law in mankind. It is this planet following suit. As if the planet had a soul which has borne enough insults and is wretching its guts of its poisons and self-loathing.
Wow, that was quite the post... a very well done rant.
I believe we will find a way to survive and live through this.
What an integrity versed, thought rendering summery you have given us. Thank you.
I hope this gets sorted out sooner rather than later as I wish to see my kids live in a decent world.
According to Bernie Sanders all$30 billion comes from poor and middle-class programs. Not a dime comes from welfare for the rich. That would be unacceptable.
Almost 100 comments and no Leo Szilárd bitchez?
You guys are slipping...
$300M sounds suspiciously close to the $250M given to the Morgan Stanley wives...