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PAPANDREOU HAS VOTES TO PASS AUSTERITY BILL: 155 VOTED TO EXTEND BANKER OLIGARCHY STATUS QUO

Tyler Durden's picture




 

Fascism wins again, this time by a 4 vote margin. The world is saved... for a few hours.

 

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Wed, 06/29/2011 - 09:03 | 1411338 qussl3
qussl3's picture

NOW WHAT?

 

Wed, 06/29/2011 - 09:09 | 1411351 EscapeKey
EscapeKey's picture

Now we wait for the next farcical vote out of either Ireland or Portugal.

Wed, 06/29/2011 - 09:07 | 1411367 MonsterZero
MonsterZero's picture

Now nothing, the people finally begin to pay for their failures to develop a successful governance and economy. Living outside of your means and handing power to those you shouldn't have trusted are hard lessons in life but something that they obviously need to learn.

Wed, 06/29/2011 - 09:09 | 1411383 Judge Holden
Judge Holden's picture

"Living outside of your means and handing power to those you shouldn't have trusted are hard lessons in life but something that they obviously need to learn."

 

You would, of course, broaden this statement to include the USA, correct?

Wed, 06/29/2011 - 09:16 | 1411407 Arius
Arius's picture

you mean include himself ?

thats too much to ask ... dont you think so ?

Wed, 06/29/2011 - 11:57 | 1412110 bernorange
bernorange's picture
"The Federal Reserve extended its program to provide emergency currency swap lines to the European Central Bank last week as the euro zone's sovereign debt crisis deepened, the Wall Street Journal reported on Wednesday.

The swap lines allow foreign central banks, including the ECB, the Bank of England and the Canadian, Japanese and Swiss central banks to borrow an unlimited amount of dollars for a fee and lend them out to banks in their home countries.

The program was set to expire Aug 1. Its extension was approved by a vote during last week's Federal Open Market Committee meeting, the Journal said.
... "

http://www.reuters.com/article/2011/06/29/usa-fed-ecb-swap-idUSN1E75S04120110629

US Taxpayers on the hook for bailing out the PIIGS for the forseeable future...

Wed, 06/29/2011 - 09:09 | 1411384 trav7777
trav7777's picture

sure.  Supposing they decided to tell the banksters to GFY, they still spend more than they produce.  Austerity of some sort is inevitable, it's only a matter of whether it comes with interest or not

Wed, 06/29/2011 - 10:49 | 1411759 centerline
centerline's picture

Wow. Takes a real idiot to junk this one on it's content.  The truth hurts - but the tragic comedy here is that either way they are fucked and so are we.  In fact, they are worse off to go down the road of another bailout... it only raises the stakes.

Wed, 06/29/2011 - 11:21 | 1411884 trav7777
trav7777's picture

who cares about junks?

People seem to believe that if we "just got rid of the banksters," that we could then ALL live luxurious lives where we spend more than we produce.

The Greeks are facing a decline in standard of living because their std was driven by DEBT, not real production.  Just as ours is.

All the debt we have is somebody else's production; somebody else's oil, somebody else's manufactured goods.

If we repudiate, someone takes a loss...one man's debt is another man's asset.  Sure, we can claw back a lot of the kleptocracy's ill-gotten gains, but the oil we've all been burning for 40 years?  We borrowed money to buy that.  We still OWE someone, even if we repudiate the interest and destroy all the banks.

The nations of the world will figure out why gold was the reserve asset for so long; you can't cheat on the forex.  The single biggest benefit of empire to the US was the BW dollar reserve standard.  Without this...shit.  Look at our trade deficit or budget deficits.  We'd be at parity with the Colombian Peso or worse against that backdrop.

Wed, 06/29/2011 - 11:47 | 1412062 mchadellis
mchadellis's picture

Money is debt. All currency in circulation is owed to someone. The bankers have designed this debt based money system. The usury mechanism of our debt money forces wealth to the top few. Please somebody tell me WTF a bank has EVER "produced". Making money off of money is a scam that always fails. The banks have created a system where the ones who actually produce something get the least wealth. Capitalism requires poor, desperate workers to do the REAL work while the pimps on wall street reap the REAL wealth. The poor create the rich. If there arent poor shmucks laboring, there arent rich fucks lavishing. Technological unemployment is here to replace the aforementioned slaves. So much for cyclical consumption. Machines will set us free. Man created debt. Is Earth bankrupt? We are all pussified idiots. The banks are the parasitic cancer. Where do you think the nanny state originated? 1913.

Wed, 06/29/2011 - 12:31 | 1412313 centerline
centerline's picture

One simple chart says it all... historical population growth.  We are approach "peak" in so many ways including the currency fiat system.  If we had a convergence of only one or two factors, I wouldn't be so concerned.  But, at this juncture we are approaching the convergence of way too many huge problems.  Earth definately is not bankrupt.  But, a period of profound adjustment is just beginning.  I really hate to call it a supercycle for fear of being pulled into an EWT argument - but the shoe does fit.

Wed, 06/29/2011 - 13:24 | 1412548 Bob Sacamano
Bob Sacamano's picture

Despite the fact bankers "designed" offering debt, it does take a borrower to complete the creation of debt - so presumably borrowers share a meaningful portion of blame as well (rarely discussed in banker rage debates). 

I am in favor of not borrowing. I am in favor of those that did borrow, repaying what they borrowed.  I understand these are antiquated notions. 

 

Wed, 06/29/2011 - 12:26 | 1412290 centerline
centerline's picture

I like to point it out for the fun of it.  I really could care less.  I get the overall big picture math and what it could lead to.  And all I care about at this point is paying attention to how it goes down to help best protect my family.  If along the way some idiot here "see's the light" - that is cool.

Lots of old timers around here dont post much anymore.  I think it is because they have found it futile.  And are spending more time watching... and preparing.  

Wed, 06/29/2011 - 09:11 | 1411403 taraxias
taraxias's picture

Spoken like a true fascist, banking lemming.

You sir, are a monster zero indeed.

Wed, 06/29/2011 - 09:26 | 1411474 MonsterZero
MonsterZero's picture

Banking lemming I think not. But I think some aspects of Facism would be very welcome:

Fascists seek to purge forces, ideas, and systems deemed to be the cause of decadence and degeneration and produce their nation's rebirth based on commitment to the national community based on organic unity where individuals are bound together by suprapersonal connections of ancestry, culture, and blood. Fascists believe that a nation requires strong leadership, singular collective identity, and the will and ability to commit violence and wage war in order to keep the nation strong.

What is a nation afterall... I think the Greeks really need to consider what they really are these days.

Wed, 06/29/2011 - 09:35 | 1411524 AccreditedEYE
AccreditedEYE's picture

All austerity and no bank principal reductions is bullshit in my book bud. If you wanna play the "fair and square" game, there should be equal amounts of pain to go around...

Wed, 06/29/2011 - 09:39 | 1411535 MonsterZero
MonsterZero's picture

Nobody is taking money from peoples past here. Debt before equity is a very old and "fair" concept.

Wed, 06/29/2011 - 10:46 | 1411755 Burnbright
Burnbright's picture

The point is the people who recieved the gains from the debts are in the PAST, the people who have to pay for the consequences are in the FUTURE.

This is a transfer of wealth from the future generation to the past generation. 

 

Wed, 06/29/2011 - 12:20 | 1412252 trav7777
trav7777's picture

why?  I agree on the compound interest component, but the Greeks DID actually spend all the money lent.  These loans are someone else's asset, german pensions and whatnot.

To repudiate debt means that those who lent take a loss...fine.  But the Greeks still spent the money.

Just like the homeowner/bankster dichotomy.  Sure the banksters committed fraud, but the homeowners spent the money and got the house.  Somebody is holding that loan as an asset.  Someone's principal somewhere got spent on it.  So the banksters ripped them off, our only recourse is to clawback and prosecute.  But the free lunch still ends.

Putting Chuck Ponzi in jail didn't bring the investors' money back

Wed, 06/29/2011 - 14:10 | 1412625 AccreditedEYE
AccreditedEYE's picture

Trav: What about due diligence? What about underwriting standards? Banks knew the score on Greece.. they new the size of the leverage to assets + income and have the research staff and sophistication to know what the Greek "landscape" really looked like. How about the thimble sized amount of CDS to outstanding sovereign paper? These institutions could have hedged during the good times... I don't feel much sympathy for holders of PIIGS paper. (I didn't junk you)

Wed, 06/29/2011 - 09:57 | 1411591 SMG
SMG's picture

Yeah that sounds great.  In practice though Facism always leads to corrupt oligarchs, a police state, and at some point mass murder.  Screw that.  Live free or die!

Wed, 06/29/2011 - 10:03 | 1411615 Clark Bent
Clark Bent's picture

Your comment reminds me of just such an earlier nationalistic Greek adventure, the invasion of Sicily in the Peloppenesian war circa 325 B.C. That manly action ended not so well for Athens. BTW who is it that is qualified to speak for the collective mind? 

Wed, 06/29/2011 - 09:58 | 1411598 TheFourthStooge-ing
TheFourthStooge-ing's picture

Time to get some stout rope, enough for 155 nooses for the necktie party.

Spoken like a true fascist, banking lemming.

You sir, are a monster zero indeed.

...and some tar and feathers for monster zero.

 

Wed, 06/29/2011 - 09:13 | 1411417 nedwardkelly
nedwardkelly's picture

I think you're a little mistaken there...

"The people finally begin to pay for....."

What you really mean is that younger generations now have to suck it up and pay for older generations. That guy that retired last year at 52? He's all set. The poor 25 year old sucker that now has to face a lifetime of crazy high taxes, later retirement, etc - well he's fucked.

At some point the younger generation will realize how fucked over they're getting.

 

Wed, 06/29/2011 - 09:52 | 1411578 Stuck on Zero
Stuck on Zero's picture

The young, realizing what a dead-end situation they are in, will respond by dropping out of society altogether.  They'll stay where they are and become potheads, dopeys, gang members or they'll emigrate to find better opportunities.  Then what?

Wed, 06/29/2011 - 10:39 | 1411731 nedwardkelly
nedwardkelly's picture

Right, I'm not suggesting the young should set about lynching the old. I am suggesting that the younger generations are pretty fucked. At some point they'll realize this. Then what?

Higher taxes, less freedom, more regulation, fewer benefits. None of which are due to anything they did, or anyone they voted for (more than once or twice).

Wed, 06/29/2011 - 10:53 | 1411771 centerline
centerline's picture

Yup.  Yet another wall sitting out there at some point in the near future.  This is precisely how major social shifts occur, and underground markets as well.  One of the first things that will get taken out here in the States is student loans defaulting en masse.  Yeah - they cant be discharged in court, but that wont matter at some point when folks dont have the ability to pay them anyhow.

Wed, 06/29/2011 - 10:12 | 1411655 rwe2late
rwe2late's picture

 

The banksters and war merchants are in conflict with young and old, and with those aged in between. The institutions they head are destructive of the planet and its inhabitants.

Your contention that the young should spite the elderly because the elderly will not suffer enough is ridiculous. There will be plenty of suffering to go around (except for the inside elite and their elite bodyguards). Joblessness, loss of pensions, loss of medical care, environmental destruction, and wars will spread plenty of suffering.

Divide and conquer is the traditional strategy. Promoting strife based on superficialities of age, race, sex, religion, etc. only serves TPTB.

What better way to promote that strife than to inequitably distribute crumbs of reward and appeal to the childish sentiment “How come Jonny got some and I didn’t”?

As though the bailouts, the wars, the political and financial arrangements have been decided by the common citizen.

As though the chief beneficiaries of systematic mayhem have not been a wealthy elite and the global corporations they head.

 

Wed, 06/29/2011 - 10:35 | 1411718 nedwardkelly
nedwardkelly's picture

Your contention that the young should spite the elderly because the elderly will not suffer enough is ridiculous

That's not my contention at all. My contention is that the younger generations are MORE fucked than the older generations.

We've had X decades of debt fueled growth. Here in the US $14 trillion dollars of it. $14 trillion dollars padding the ride for the last 30-40 years. Not a bad gig.

At some point that is unsustainable. That 'some point' is coming. When it comes it will affect tomorrows generation much more than it affects yesterdays.

Just look at the average state retiree today, vs the average state new recruit. The new recruit still gets a pretty good deal in the grand scheme of things, but compare it to the deal the guy that retired 5 years got? It's night and day. But who has to pay for the guy that retired 5 years ago? We all do.

Just so it's clear - we'll all suffer. The bigger portion of the burden is on the young, who short of revolt will be forced to pay for the promises made to the old.

Wed, 06/29/2011 - 11:03 | 1411803 rwe2late
rwe2late's picture

 forced to pay for the promises made to the old  ???

how can it be to pay for "promises" that won't be kept?

is it actually to pay for bailouts and wars, and the upward transfer of wealth?

Your perception of why promises of decent pensions and healthcare allegedly can't be provided is wrong. It is not because they are all excessive, or because a few are excessive. The pilfering of funds for wars, bailouts, and health industry subsidies and away from beneficial investments is the primary explanation.

Your attempt to inflame intergenerational rivalry is wrong-headed.

Your whole approach to the question of the inequitable distribution of wealth and power is wrong ... inasmuch as it ignores and diverts attention away from the actual holders of power and wealth, and away from how and why current policy is actually decided.

 

Wed, 06/29/2011 - 13:11 | 1412475 nedwardkelly
nedwardkelly's picture

So clearly you're an old guy, upset that I think old guys are more responsible for our current mess than young guys. You want to blame 'the bankers' and war merchants. The fact is, the bankers and war merchants are just leeches taking advantage of the system that 'we the people' have provided for them. There's always going to be leeches, there's always going to be greedy assholes, there's always going to be corruption etc. It's human nature. All you can do is try to create a 'system'/society where they don't get a free ride.

How did the funds for wars, bailouts and health inudstry subsidies get approved? Was it facilitated by our government? How did we end up with a government that would get us into all this mess? Was it apathy and indifference on the part of voters? Was it because voters got hung up on bullshit like who can marry who instead of real issues? Don't try and tell me that democracy is inherintly hopeless and we'd all be fucked anyway, or you might as well just go and end your suffering.

If more people gave a shit, 'we the people' could actually make a change. We'd be able to change the status quo, so the bankers and war merchants couldn't so easily keep the plebs down. For decades the people that could have done something about it (voters) haven't. They've been happy with short term promises that in the long run couldn't be kept. Now the younger generations will pay for it.

Maybe the rogering they'll be getting will wake them the F up so they do something about it. Lynching old people wont help, despite the fact that it's been their apathy and indifference and political selections that have gotten us to our current position.

Wed, 06/29/2011 - 12:44 | 1412385 trav7777
trav7777's picture

wtf...you just called age, race, and sex superficialities?  Are you stoned?

Even if your ass is PC as hell, you cannot see sex as a superficial difference between people unless you don't know the fkin meaning of the word.

The sexes are different.  The races are different.  The ages are different.  Each has its own strengths and weaknesses and individual attributes.  These are not superficialities

Wed, 06/29/2011 - 09:16 | 1411430 wandstrasse
wandstrasse's picture

you are right AND wrong. Decades of piling sovereign debt is one contributing factor of unsustainable koyaanisqatsi - living. But this does not change at all when you pile more debt - an this is what the Greek parliament just decided.

Wed, 06/29/2011 - 09:21 | 1411436 Reptil
Reptil's picture

Again: only a part of the greek population lived beyond their means. Most farmers were totally DESTROYED in the past few years, while the EU funds kept rolling in.

But you're right about handing power to untrustworthy. A hard lesson for everyone. Corruption goes hand in hand with lack of openness. And Capitalism, as a system is clearly at risk, or almost dead (depends on the POV).

First the free market dies, then democracy dies." Folker Hellmeyer

Wed, 06/29/2011 - 13:02 | 1412444 Clark Bent
Clark Bent's picture

Capitalism, or free trade more accurately, (as I hold that Capitalism is not an "ism" at all, but the absence of imposed "ism,") can never die, it can only be subverted, and people burdened by its immoral subversion.  I am free trade told flourishes in the trade occurring in maximum security prisons, and certainly in oppressive regimes. But the commodities are different. Instead of labor and resources, it becomes one's own body, and "services" provided to one's superiors. 

Wed, 06/29/2011 - 10:02 | 1411579 Pegasus Muse
Pegasus Muse's picture

Now nothing, the people finally begin to pay for their failures ... blah blah

No, it's time for the criminals to pay.

Wonder what the Intrade Odds are on the date when the Greek People start hanging the criminal Banksters and sell-out Politicians?  I would wager “soon”.

Wed, 06/29/2011 - 10:03 | 1411602 MadeOfQuarks
MadeOfQuarks's picture

"Now nothing, the people finally begin to pay for their failures to develop a successful governance and economy. Living outside of your means and handing power to those you shouldn't have trusted are hard lessons in life but something that they obviously need to learn."

 

Nah, the Greeks won't implement any austerity. Sure, they'll pretend, but since they already evade taxes and already cheat the gov, it's going to business as usual in Greece. Meanwhile the rest of Europe gets to work 'til they're 75 so that Greekolopolous can retire when he's 55.

Wed, 06/29/2011 - 09:12 | 1411377 1100-TACTICAL-12
1100-TACTICAL-12's picture

Simon Hobbs calls them heros, what a dipshit.CNBS make's me wan't to barf in my corn flakes.

Wed, 06/29/2011 - 09:10 | 1411392 qussl3
qussl3's picture

Hobbes turned into a real cocksucker ever since he left europe.

Its almost as if he left his balls at home.

Wed, 06/29/2011 - 09:19 | 1411428 Boston
Boston's picture

He has balls?

Wed, 06/29/2011 - 09:59 | 1411604 Pegasus Muse
Pegasus Muse's picture

He's a pussy.  That's why they hired him.  Just another sell-out banskter shill.

Wed, 06/29/2011 - 09:28 | 1411503 Fred C Dobbs
Fred C Dobbs's picture

Did you see Mark Faber laughing at Hobbs performance?  It is corporate owned news media theatre.   

Wed, 06/29/2011 - 09:14 | 1411385 Arius
Arius's picture

Now, TO THE MOON !

DOW 36000 ....

The Douleur .52

Wed, 06/29/2011 - 09:15 | 1411400 nonclaim
nonclaim's picture

NOW WHAT?

Now you have to do your part and pay the bill.

Work harder, slave! (sound of whip craking)

Wed, 06/29/2011 - 09:17 | 1411414 max2205
max2205's picture

SELL THE NEWS!!

Wed, 06/29/2011 - 09:24 | 1411483 GetZeeGold
GetZeeGold's picture

 

STFN!!!

 

 

Wed, 06/29/2011 - 09:14 | 1411420 HelluvaEngineer
HelluvaEngineer's picture

Now we throw the lever and sell the news, since all the bulltards went long yesterday.

Wed, 06/29/2011 - 13:25 | 1412542 He_Who Carried ...
He_Who Carried The Sun's picture

Umm, Mr. T-Durd why compare the winning Greek Socialists around Mr. "G-Pap" with "fascism"?

Mussolini just turned in his grave.

Dissapointed that there are no masskillings? Mymy.

All who have been betting against the Euro did not know who they were up against.

Greek Conservatives just playing the opportunist with their demagogue tactics. These were the true fascists leading the way over the cliff and then all the way to the bottom.

I can only hope that some of them will jump anyway.

Start talking about low interest rates and excessive lending for homeownership invented by Clinton/Greenspan. Fascists these as well? I thought the were on the other side?

Come to think of it perhaps real "Fascism" is the only thing that's actually missing in the picture of socialist "Planwirtschaft" at play here... Looking at Greece it seems to be on a path to a 15-year recession without Japanese style diligence and ingenuity. Poor people.

Wed, 06/29/2011 - 09:07 | 1411339 oogs66
oogs66's picture

at least the Greek people know the government is there for them :(

Wed, 06/29/2011 - 09:07 | 1411340 achmachat
achmachat's picture

there's still an angry mob outside... let's not forget that.

Wed, 06/29/2011 - 09:16 | 1411410 Judge Holden
Judge Holden's picture

there's still an angry mob outside...

Who seem to be standing around picking their butts.  Either that or the webcams are poorly situated far away from the action.

Wed, 06/29/2011 - 09:04 | 1411342 SheepDog-One
SheepDog-One's picture

US is next!

Wed, 06/29/2011 - 10:17 | 1411678 Troy Ounce
Troy Ounce's picture

 

You will NEVER see this in the US.

 

Only if they shift repeat-Bonanza to 04.00 in the morning. Only then you will see revolution.

 

Wed, 06/29/2011 - 09:04 | 1411344 Spitzer
Spitzer's picture

even CNBS realizes this is bullshit

Wed, 06/29/2011 - 09:09 | 1411379 etrader
etrader's picture

Handbags at 10 paces with Simon & Becky :)

Wed, 06/29/2011 - 09:04 | 1411346 Cdad
Cdad's picture

And the selling has commenced.

Wed, 06/29/2011 - 09:08 | 1411380 SheepDog-One
SheepDog-One's picture

Funny how no matter how much blustering and ruffling of feathers there is, politicians always seem to find the votes to screw the people over.

Wed, 06/29/2011 - 09:17 | 1411435 nedwardkelly
nedwardkelly's picture

Funny how no matter how much blustering and ruffling of feathers there is, politicians always seem to find the votes to screw the people over.

..and so are the days of our lives.

The political 'process' would be so much easier for the plebs if we could all just accept foregone conclusions as foregone conclusions. It's like the debt ceiling... How much bluster and theater is incoming when we already all know what the result will be?

Wed, 06/29/2011 - 11:17 | 1411843 centerline
centerline's picture

Heard last night that debt ceiling has been raised 102 times since 1917 or so.  Sounds more like a debt goal (requirement).  What a farce.

This is all just theater.  We all know what is going to happen in the short term.  We just dont like it because we know the stakes are being raised, and the pain will be that much worse later.

The bailouts will continue.  The theft (wealth transfer) will continue.  It will all continue as it has for the last couple of years until some unforeseen event causes a catestrophic failure... and the house of cards will all come down.

Wed, 06/29/2011 - 09:04 | 1411347 mjb99na
mjb99na's picture

Riotz bitchez!

Wed, 06/29/2011 - 09:05 | 1411348 Cognitive Dissonance
Cognitive Dissonance's picture

And so the world is saved...........once again.

What's the over/under on when Greece comes begging once again. Or should I say the world comes begging for Greece to take the next even bigger bailout.

I give it 6 months.

Wed, 06/29/2011 - 09:11 | 1411361 Cdad
Cdad's picture

I give it 6 months.

On Greece...sure.  On the rest of the peripheral nations...as measured by their debt...6 minutes.

And as for Greek buildings on the square, -10 minutes.

Wed, 06/29/2011 - 09:30 | 1411513 Cognitive Dissonance
Cognitive Dissonance's picture

Cdad,

You need to have more faith in human nature. I have no doubt the Ponzi can will be kicked down the road for several more years. After all, the looting isn't done............ which simply means they won't let go until there's nothing left to hold.

Wed, 06/29/2011 - 09:53 | 1411582 wandstrasse
wandstrasse's picture

the looting isn't done

exactly. The looting is done when on the entire planet, including US and Europe, there are only slums and palaces. Not before. It might not seem so, but there is still some middle class.

Wed, 06/29/2011 - 11:12 | 1411817 Cdad
Cdad's picture

And now...the Greek Ministry of Finance building is on fire.  

Wed, 06/29/2011 - 09:18 | 1411387 Zero Govt
Zero Govt's picture

i think this funding is supposed to last until 2014 but judging by all the Greek Govts financial planning previously ('spend, spend, spend' as soon as the mugs hand over the money) they'll defo' run out before that ...6 months may be a bit harsh, think end of 2012 but then again 6 months may be extremely generous of how long this Govt will cling on!

Wed, 06/29/2011 - 09:15 | 1411402 SheepDog-One
SheepDog-One's picture

'After Greece, US falls'...get ready, sleepyhead americans who think 'it never happens here'

YouTube - 'US going down next after Greece'

Wed, 06/29/2011 - 09:18 | 1411434 Zero Govt
Zero Govt's picture

global bankers = "financial terrorists" ..gotta luv Max Keisers vocablory ;)

Wed, 06/29/2011 - 09:21 | 1411467 nedwardkelly
nedwardkelly's picture

I give it 6 months.

Yeah, I'll go with 6-12months. This sort of shit always seems to take much longer to hit the fan than you think it will. Here's my prediction.

1) Greece gets next tranche based on agreeing to do all the shit posted here a couple of days ago

2) Greece actually implements 1 in 10 of the demands

3) Greece SHOCKINGLY is still in a hole in 6 months, needs more money.

4) The rest of the EU is already so heavily invested in a sinking ship that they throw more 'good' money after bad

5) Greece promises to do all the shit they promised to do in 1, plus a bunch more shit because now they're even farther behind

6) Lot of upset people - both in Greece "fuck that, we're not doing that shit" and everywhere else in the EU "fuck that, they'll never do any of that shit"

7) S hits F

Wed, 06/29/2011 - 10:12 | 1411634 MadeOfQuarks
MadeOfQuarks's picture

I'd put:

7) Greece gets another bailout "package", 99.9% of all people think "problem solved" and switch channel to watch Idol.

8) Goto 1

Wed, 06/29/2011 - 11:11 | 1411813 centerline
centerline's picture

You took the time to put it out there - and someone junked it.  There has been a serious coward in the room for a couple of days now.  Lots of new trolls too.  Well - at least it's not boring.

Wed, 06/29/2011 - 13:11 | 1412499 nedwardkelly
nedwardkelly's picture

Pretty much every post these days gets at least 1 junk... I wouldn't worry about it.

If someone junks me it just tells me they care enough about these topics to have an opinion on it. That's great, more than I can say for a lot of average joes out there.

Wed, 06/29/2011 - 09:08 | 1411349 oogs66
oogs66's picture

the European banks try and reduce their exposure at par as fast as they can

Wed, 06/29/2011 - 09:12 | 1411376 EscapeKey
EscapeKey's picture

Not quite yet; Greek bonds will no doubt rally on this; they'll sell once new suckers have been attracted. No doubt that'll happen the day after Goldman issues a strong buy recommendation on Greek bonds.

Wed, 06/29/2011 - 09:14 | 1411393 pan-the-ist
pan-the-ist's picture

I have a business oppurtunity for you... it's not Amway.

Wed, 06/29/2011 - 09:12 | 1411409 SheepDog-One
SheepDog-One's picture

RIGHT and theres always plenty of suckers to rape daily. 

Wed, 06/29/2011 - 09:07 | 1411350 TruthInSunshine
TruthInSunshine's picture

Kapitaljizm/Kleptokracy/Kronyism, bitchez.

Papandreou gets a nice villa in the South of France with some precious as a housewarming gift.

He's going to need a Blackwater (or Xe Services, ahem) escort to make it there safely.

Portugal, Spain, Italy and Ireland (Mulligan) and Britain on deck, bitchez.

Epic lulz.

Wed, 06/29/2011 - 09:10 | 1411354 TradingJoe
TradingJoe's picture

As I said yesterday, stop loss on my shorts! The greeks were screwed already, they will do what they can to ventilate and "move on", the next "austerity package" will arrive in 4-6 weeks so?!?! To me this is just as nuts as everything happened so far in the last 3 years, and even if it takes another 3, WE ALL KNOW HOW THIS IS GOING TO END!!!

{Prepare accordingly!

 

Wed, 06/29/2011 - 09:12 | 1411359 MisterAmbassador
MisterAmbassador's picture

The Tree of Liberty must be refreshed from time to time with the blood of Patriots and tyrants.

Today Athens, tomorrow Washington D.C.

Wed, 06/29/2011 - 09:21 | 1411463 Yes_Questions
Yes_Questions's picture

Especially at that time when the Bankster Money Tree has been been fed too much blood of Labor.

Wed, 06/29/2011 - 09:10 | 1411360 Whatta
Whatta's picture

The world is saved... for a few hours.

But what will we trade on this afternoon? SPR..already done that, austerity...way old news now. Profits?...rofl...whatever, who needs that old passe shit for trading?

Wed, 06/29/2011 - 09:07 | 1411362 RetiredSilverBug
RetiredSilverBug's picture

Euro is now a place to hide from a dollar collapse.

Wed, 06/29/2011 - 09:11 | 1411364 Tense INDIAN
Tense INDIAN's picture

...theres no real way out of this for the people unless they SNAP out of the system....

 

.....the people are trapped ....only economic independance can help ...and that means...GO BACK TO THE FARMS

Wed, 06/29/2011 - 09:11 | 1411365 King_of_simpletons
King_of_simpletons's picture

All setting up for bigger and better financial crisis.

Wed, 06/29/2011 - 09:11 | 1411366 oogs66
oogs66's picture

Government of the people, for the bankers, by the bankers

Wed, 06/29/2011 - 09:07 | 1411369 6 String
6 String's picture

Yup. Like I said. Greece will be forgotten for awhile again while the R2K rips ever so higher. Sweet. All of this is great news. "Saved" is the operative word for making massive money in stocks. Up, up, and away!

Wed, 06/29/2011 - 09:24 | 1411461 Arius
Arius's picture

they are counting on your money ... dont be late...

Wed, 06/29/2011 - 09:08 | 1411372 dwdollar
dwdollar's picture

Ah, the reckless orgy of unchecked spending with made up money continues...

Wed, 06/29/2011 - 09:12 | 1411374 Racer
Racer's picture

The Greek people ought to do what the French did.....

Wed, 06/29/2011 - 09:22 | 1411448 HelluvaEngineer
HelluvaEngineer's picture

have sex with their faces?

Wed, 06/29/2011 - 09:28 | 1411500 Reptil
Reptil's picture

pffff coffee out the nose! thanks pal.

Wed, 06/29/2011 - 09:12 | 1411375 huggy_in_london
huggy_in_london's picture

Right ... a few days where the market parties, then we'll be on to the next greek crisis... 

Commence selling euro.  

Wed, 06/29/2011 - 09:12 | 1411381 qussl3
qussl3's picture

Someone needs to shut hobbes up.

What the hell happened to him, was halfway decent in europe but turned into a complete cocksucker in the states.

 

Wed, 06/29/2011 - 09:14 | 1411394 fightthepower
fightthepower's picture

The Greeks need to tear their politicians limb from limb, then go after thier families.

Wed, 06/29/2011 - 09:13 | 1411415 6 String
6 String's picture

I no longer believe its the politicians in Greece or the USA...I no longer believe its the Federal Reserve, etc. It's the people, stupid. They get what they vote for. We are in a severe cultural crises. It's not a money crises. It is a cultural crises around the world. Just give 'em bread and circuses is the only thing that matters....until that finally falls apart (5 to 10 years from now--sorry doomers), then it won't. Until, of course, it's "saved."

Wed, 06/29/2011 - 09:18 | 1411440 dexter_morgan
dexter_morgan's picture

"It's the people, stupid."

Amen!

Wed, 06/29/2011 - 17:07 | 1413385 StychoKiller
StychoKiller's picture

It's the Stupid people!  FTFY

Wed, 06/29/2011 - 09:37 | 1411509 Reptil
Reptil's picture

+1 "It's the people, stupid"

cultural crisis indeed.

But now....... the black swan: The german and dutch population. And some (equally powerhungry) right wing politicians, that are against this. This will be a HARD SELL while austerity is also being practiced (with a baton) here....

Anyway... I'm heading for the hills.

I hear the planet Mars is great this time of year. :-S

Wed, 06/29/2011 - 09:37 | 1411530 nedwardkelly
nedwardkelly's picture

It's the people, stupid.

Amen brother. You're right it's a cultural crisis... Money crisis is a symptom, the average idiots attitude is the disease.

I think it's all about comfort level and motivation. Once a guy gets to a certain comfort level you can't really expect much more from him anymore. Marginal gains. Different people have different comfort levels, some guys never get to the point where they think "yep, this is good enough, not going to try any more". Doesn't matter if you're talking about a sales guy meeting his quota, or joe sixpacks expectations of his representatives.

Same goes for society... Depsite all the 'woes' people are pretty comfortable, so they just don't give a shit. People are more passionate about who can marry who than the fact that we're at war in a bunch of countries. Everyone complains about the 'outsourcing of america' but then does all their shopping at Walmart because it's cheap and easy. Noone wants illegal immigrants, but love paying the lawn guy peanuts.

Nothings going to change unless it gets really uncomfortable for the average joe.

Wed, 06/29/2011 - 09:43 | 1411536 j0nx
j0nx's picture

Amen. I liken it to blaming the wolf for eating your sheep. You can't blame the wolf since it's in their nature to eat sheep. You blame yourself for not getting rid of the wolf. Everyday I see Americans only interested in gay marriage, reality TV, what concert they are going to this weekend, beer, sports, etc. 1 in 50 at best I hear talking about the shit that's going down around the country and how it is obviously slipping quickly into the crapper. Nobody wants to speak the truth for fear it will offend someone else's culture, religion or skin color sensitivities. Until we stick a stake through the heart of political correctness then we are done as a nation. It won't happen without a major crash/incident.

Wed, 06/29/2011 - 10:17 | 1411676 Ace Ventura
Ace Ventura's picture

Agreed for the most part, although I contend no one wants to speak the truth for fear of being labeled 'an extremist', put on some watch list, and eventually get an unannounced....and very possibly lethal....visit from a local SWAT raiding party.

Wed, 06/29/2011 - 09:14 | 1411395 6 String
6 String's picture

Even Yahoo! news got this one right: Stocks trend higher as Greece resolution nears. Fixed. Check. Back to the real news. Watching small caps rip higher.

Wed, 06/29/2011 - 09:10 | 1411397 Dreadker
Dreadker's picture

Oh well... more time to prepare for the even bigger collapse... Unless of course the greek people just storm parliament and kill them all... Nothing like having 33k euros of debt you didn't rack up forced on you ;-)  I'm sure all the politicians will be swilling brandy, smoking cuban cigars and flying around in there G5's again by the days end...

Wed, 06/29/2011 - 09:14 | 1411398 fightthepower
fightthepower's picture

The Greeks need to tear their politicians limb from limb, then go after thier families.

Wed, 06/29/2011 - 09:26 | 1411481 SMG
SMG's picture

Even if the Greeks did that it wouldn't change anything.  The politicians are just puppets for the Oligarchy. They would be replaced with new puppets. You have to get to the Oligarchy to effect real change.

Wed, 06/29/2011 - 09:11 | 1411401 Cassandra Syndrome
Cassandra Syndrome's picture

Athens will burn over this.

 

Wed, 06/29/2011 - 09:11 | 1411404 Tense INDIAN
Tense INDIAN's picture

well atleast the Greek DEPUTY can walk the streets fearlessly

Wed, 06/29/2011 - 09:11 | 1411405 spongeBOB
spongeBOB's picture

Next Greek election should be fun.

Wed, 06/29/2011 - 09:21 | 1411441 John McCloy
John McCloy's picture

Coming in Sept 2013
Every single one of these clowns will be tossed aside and default ensues anyway in 2 years so this extend and pretend has at best 26 months.
If riots escalate ,as they will, on this double confirmation of bailouts of the bankers round the world a snap election could be called. All it would take is violence at the home of one politician. Seems very likely now that the already poor peoples just became even poorer this morning and more unemployed added to the army already in waiting.

Wed, 06/29/2011 - 09:15 | 1411406 Curtis LeMay
Curtis LeMay's picture

This is only part one. Part two starts right now.

Greece's Parliament now must agree on the specific "austerity"/self-immolation cuts.

That's where the shit is really about to hit the fan.

They can't agree on that, no bailout money...

Wed, 06/29/2011 - 09:20 | 1411429 dexter_morgan
dexter_morgan's picture

+

Wed, 06/29/2011 - 09:14 | 1411411 RobotTrader
RobotTrader's picture

I don't know why everyone is focusing on Greece.

The real action is in the bank stocks, big gaps up this morning on the "worst of the worst" like C, BAC, etc.

Also there was a huge breadth surge yesterday that gapped up the Summation Index, if we are up big again today, then we'll have two in a row and we'll be back in another intermediate term advance.

http://stockcharts.com/freecharts/McSumNYSE.html

I mean really, the only guaranteed shorts in this market have been gold mining stocks.  Names like RBY are getting utterly destroyed this morning.

Wed, 06/29/2011 - 09:15 | 1411427 6 String
6 String's picture

Long banks and small caps is the only way to make money now. BAC will outperform SLV 3or 4 to 1 from here.

Wed, 06/29/2011 - 09:21 | 1411438 alien-IQ
alien-IQ's picture

you really are dumb as a motherfuckin bag of hammers.

Wed, 06/29/2011 - 09:13 | 1411416 virgilcaine
virgilcaine's picture

Now the run for the exits as the hoards rush in.

Wed, 06/29/2011 - 09:18 | 1411419 AccreditedEYE
AccreditedEYE's picture

Gotta love disconnect between government and the will of the people in the cradle of modern "democracy". If I were a Greek citizen, being slapped in the face as they just have been, I'd tear that place up.

Wed, 06/29/2011 - 09:14 | 1411421 midtowng
midtowng's picture

Good thing. I was really starting to worry about the Banker Oligarchy.

Wed, 06/29/2011 - 09:15 | 1411426 djsmps
djsmps's picture

The big story of the day is that Amanda Knox returned to court. Now, back to the Casey Anthony trial.

Wed, 06/29/2011 - 09:22 | 1411444 Boston
Boston's picture

What happened to Haley?

Wed, 06/29/2011 - 09:22 | 1411447 ArrestBobRubin
ArrestBobRubin's picture

Oh yeah, there's a shocker. Graft and bribery carry the day for the Illuminazis in Athens.

No big whup. The moussaka will still hit the fan.

I wonder how much the swing voters took to sell out the Greek People? My Dear Greek friends, I think y'all should carefully note the names of those who sold all your asses out to bankster trash in return for a few pieces of silver. Justice WILL prevail in Greece and I do hope you'll help make it happen in a most enthusiastic manner. I suggest the entire Papandreou clan requires your very careful attention.

Wed, 06/29/2011 - 09:19 | 1411451 Marge N. Callz
Marge N. Callz's picture

To help solve their financial woes, Papandreou will start charging for mustache rides.

Wed, 06/29/2011 - 09:23 | 1411452 MiningJunkie
MiningJunkie's picture

The bankers continue to debauch, deface, undermine, TRASH every currency on the planet. Watch physical demand for bullion explode over the next six weeks.

Risk on!

Wed, 06/29/2011 - 09:19 | 1411453 falak pema
falak pema's picture

"fascism" is a strong word; but the oligarchy likes to win anyway. If you noticed 7 people from opposition reported absent. So the overall vote looks : 155-138.

Wed, 06/29/2011 - 09:27 | 1411471 Atomizer
Atomizer's picture

I'll bet the younger Greek population will just migrate to another country.

Wed, 06/29/2011 - 09:31 | 1411496 SoNH80
SoNH80's picture

If I were a Greek below the age of 50, I'd get the hell out of there.  Better to sling hash in a New Jersey diner than to have no prospects of any kind.

Wed, 06/29/2011 - 15:02 | 1412933 Dave Thomas
Dave Thomas's picture

Sling hash in a NJ diner? That's like moving from Newark to Compton.
Those go getting greek boys need to sling has in a diner in Wyoming!

 

 

Wed, 06/29/2011 - 09:31 | 1411498 gulf breeze
gulf breeze's picture

robotard

you are a idiot when it comes to bank stocks.  How many months have you called for a rally. Keep geeting your info from others Gary K , Phil Grande and the sorts.

Robotard=bank stocks

Leo= Solar stocks.

Both wrong

 

 

Wed, 06/29/2011 - 13:06 | 1412464 TruthInSunshine
TruthInSunshine's picture

I have it on great information that RoboMomoFaderTrader gets all his 411 from Victor Niederhoffer.

Wed, 06/29/2011 - 09:28 | 1411499 MFL8240
MFL8240's picture

The Greek people have the momentum, they should overthrow this entire goverment, imprison all police that shot at Greek citizens and take back their country.  This Banking fraud needs to end and it would be a great example for the people of the world that we have had enough of this entire cartel of liars, theives and criminals.

Wed, 06/29/2011 - 09:28 | 1411501 Scipionz
Scipionz's picture

People in the streets haven't voted yet....

Wed, 06/29/2011 - 09:28 | 1411502 youngman
youngman's picture

"Fed’s Bullard said the Fed, amid persistent worries about Europe's sovereign debt crisis, last week quietly approved the extension of a crisis-lending program that allows the ECB to tap the U.S. for USD. The Fed's dollar-lending agreements with the ECB as well as the central banks of England, Canada, Japan and Switzerland were scheduled to expire Aug 1st, the Fed and other central banks haven't yet disclosed renewal of the agreements, known as swap lines. (WSJ)"

If things are so great ...why extend this little item...hmmmmmm...makes on wonder

Wed, 06/29/2011 - 09:30 | 1411510 sbenard
sbenard's picture

That kicked can is looking awfully beat up!

Wed, 06/29/2011 - 09:40 | 1411541 huggy_in_london
huggy_in_london's picture

hahaha very good!

Wed, 06/29/2011 - 09:34 | 1411521 MisterAmbassador
MisterAmbassador's picture

Just about every comment has been flagged as junk at least once.

 

Anyone know what username George Papandreou is using on here?

Wed, 06/29/2011 - 09:39 | 1411526 SoNH80
SoNH80's picture

EustaceBDiwo, perhaps?

Wed, 06/29/2011 - 09:36 | 1411523 TopOnePercent
TopOnePercent's picture

GS to the rescue now....

 

Simple solution.....pack up the Greek debt into subprime sovereignties....and sell them to the unsuspecting....backed by US rating agencies with a AAA stamp....

Wed, 06/29/2011 - 09:44 | 1411554 MisterAmbassador
MisterAmbassador's picture

That is so 2006.

Wed, 06/29/2011 - 09:44 | 1411539 falak pema
falak pema's picture

Those over indebted chinese munis are hungry to trade their debt for greek bonds. That will make the EU-China relation truly incestuous and on level plane. We scratch each others rotten nuts! 

 

Wed, 06/29/2011 - 09:42 | 1411549 Silverhog
Silverhog's picture

Imagine how many backroom deals were made to pass this turd.

Wed, 06/29/2011 - 09:49 | 1411558 PulauHantu29
PulauHantu29's picture

This is good news for the Euro and bad news for the dollar. Investors still have an alternative to The Fed's dollar.

A weaker dollar means higher oil, gold, silver, food, etc.

Wed, 06/29/2011 - 09:50 | 1411571 AldoHux_IV
AldoHux_IV's picture

Surprised it didn't pass by a margin of 666, 14, or 88.

Wed, 06/29/2011 - 10:10 | 1411644 Lone Mad Minute...
Lone Mad Minute Medic's picture

Stop being titty babies. BTFD! NFLX to the moon!

Wed, 06/29/2011 - 10:33 | 1411727 Bansters-in-my-...
Bansters-in-my- feces's picture

I sincerely hope that every person involved in gold and silver manipulation DIES a slow and agonizing death.That are not natural

Die you mother fuckers........

Wed, 06/29/2011 - 10:40 | 1411747 fonestar
fonestar's picture

Does this mean I have another 12-18 months to stock PM's before Greece bailout round 3?

Wed, 06/29/2011 - 10:54 | 1411774 Jovil
Jovil's picture

This video of Loukanikos the protest dog. This dog is something else.

http://lonerangersilver.wordpress.com/2011/06/29/in-greece-loukanikos-th...

Wed, 06/29/2011 - 18:28 | 1413651 Rockfish
Rockfish's picture

Thanks i needed that. Good doggie.

Wed, 06/29/2011 - 11:08 | 1411815 Big Bob
Big Bob's picture

Today Greece's tax receipts don't even cover it's public sector this is before you factor in any debt payments. So today it seems to make sense that they approve this bill. However, if the austerity succeeds in balancing tax receipts and public sector payments then I suspect the rules will change. At that point you could argue a default is in the Greek national interest. 

Wed, 06/29/2011 - 11:11 | 1411830 Chuck Mentzel
Chuck Mentzel's picture

So Greece is going to grow its way out of its debt. As they make more cuts, they will get even more growth and so will be able to pay for their debt after doing the EU-IMF 3 yrs IV coke therapy.

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