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Portugal's Main 725,000-Strong Union Considering General Strike

Tyler Durden's picture





 

Who would have thought permanent austerity and a government crisis would lead to popular unhappiness. Well, the General Confederation of Portuguese Worker, better known as Portugal's largest union, for one. From Reuters: "Portugal's largest labour union is considering calling a general strike as it steps up protests against painful austerity measures that are expected to deepen under an EU/IMF bailout, its leader said on Thursday..."A general strike is an instrument that is on the agenda."" And with 725,000 members, and the certain shutdown of the Portuguese economy that would ensue, it is perhaps time to consider what will happen in Spain and soon all of Europe as the wave of austerity started almost a year ago spreads, and what the impact to European GDP (and thus global) will be. But most importantly, where will the credit money come from to push the world from this latest imminent downturn. After all Jon Hilsenrath telegraphs to us that there will be no QE3. And who are we to disagree.

From Reuters:

"This is not the time to be silent. It has to be the time for protest, action and responses," he said.

Portugal launched talks on Tuesday with European authorities and the International Monetary Fund on a bailout that is expected to total 80 billion euros. The bailout deal is expected to include further tax hikes, spending cuts and privatizations.

Carvalho da Silva said the union rejected "external intervention" as it would stoke a rise in poverty and unemployment.

He stopped short of setting a date for a general strike, but said the union plans to intensify its protest campaign, starting with nationwide rallies on Labour Day on May 1.

The bailout is expected to be approved in mid-May just as Portuguese parties campaign for a snap general election on June 5. Socialist Prime Minister Jose Socrates resigned last month after the opposition rejected his austerity measures.

Will protests pull a "Greece" and turn violent?

Protests have mounted in Portugal during the sovereign debt crisis, but remained peaceful so far. Several hundred thousand marched in two rallies in Lisbon last month and public transport workers have staged intermittent strikes for weeks.

Surely the bulls will find the good news in all of this: on one hand the world is experincing a supply crunch from Japan. On the other hand, "prudent" European fiscal policy is resulting in demand destruction. Put the two side by side, carry the decimal zero, and equilibrium prices will end up staying the same. What better reason to BTFD.

 


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Thu, 04/14/2011 - 10:18 | Link to Comment pendragon
pendragon's picture

that'll give china another reason to buy the euro....

Thu, 04/14/2011 - 13:34 | Link to Comment Urban Redneck
Urban Redneck's picture

The parties to the Pentapartite Pact have deigned that Portugal shall be the puppet of Brazil.

Thu, 04/14/2011 - 10:21 | Link to Comment Oh regional Indian
Oh regional Indian's picture

Portugal is small potatoes. It's the ripple effect over in spain that needs to be watched.

Another Tunisia like pilot flame that could fan somethign much bigger in it's crumbling neighbour, where un-employment is high (more that 24% real) and dis-enchantment with the system strong...

All eyes on spain...

ORI

http://aadivaahan.wordpress.com/2011/03/09/axis-of-evil-doing/

Thu, 04/14/2011 - 10:47 | Link to Comment masterinchancery
masterinchancery's picture

80 billion Euros here, 80 billion there......pretty soon you're talking real money.

Thu, 04/14/2011 - 11:57 | Link to Comment dark pools of soros
dark pools of soros's picture

not until you are talking Shekels 

Thu, 04/14/2011 - 10:21 | Link to Comment Long-John-Silver
Long-John-Silver's picture

Greasing the skids of economic destruction.

Thu, 04/14/2011 - 10:19 | Link to Comment IdioTsincracY
IdioTsincracY's picture

C'mon people, start kicking some serious butts!!!

It's got to start somewhere in the industrialized nations ... the sooner, the better....
otherwise we'll all be working for minimum wage with no safety net at all....
enough of this race to the bottom!

Thu, 04/14/2011 - 10:19 | Link to Comment HamyWanger
HamyWanger's picture

This is a very unpatriotic attitude. Those 'union' punks should be sentenced to the electric chair. 

Thu, 04/14/2011 - 10:22 | Link to Comment nkktwotwozero
nkktwotwozero's picture

I agree. Electric chairs for bankers and politicians. Poste-haste!

Thu, 04/14/2011 - 10:27 | Link to Comment Long-John-Silver
Long-John-Silver's picture

I prefer the use of Guillotines myself. Electricity is not required and operators would be happy to work for free.

Thu, 04/14/2011 - 10:34 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Ah yes, now that is an efficient solution.  Must be a small business owner.  PLease, let's start with Larry Summers.

Thu, 04/14/2011 - 10:38 | Link to Comment SheepDog-One
SheepDog-One's picture

A bit messy, but fun entertainment for the crowds!

Fri, 04/15/2011 - 10:19 | Link to Comment nkktwotwozero
nkktwotwozero's picture

"Welcome to Monday Night Rehabilitation!"

:: Idiocracy* ::

--

*Originally made as a fictional movie, it has now a documentary.

Thu, 04/14/2011 - 10:50 | Link to Comment yabyum
yabyum's picture

Guillotines: Carbon free and green.

Thu, 04/14/2011 - 10:55 | Link to Comment Bob
Bob's picture

Better for the environment, too--much lower carbon footprint.

Thu, 04/14/2011 - 11:00 | Link to Comment youngman
youngman's picture

and good fertilizer too

Thu, 04/14/2011 - 11:01 | Link to Comment youngman
youngman's picture

and good fertilizer too

Thu, 04/14/2011 - 11:02 | Link to Comment MSimon
MSimon's picture

Hemp. Is there anything it can't do?

Thu, 04/14/2011 - 11:13 | Link to Comment Bob
Bob's picture

Well, it seems to cure cancer . . .

http://www.youtube.com/watch?v=uJ1fI3JLocI

Thu, 04/14/2011 - 11:02 | Link to Comment pops
pops's picture

Let's hang them, instead.  Wouldn't it be fun to watch them "pull the strings" from the other end?

Thu, 04/14/2011 - 12:29 | Link to Comment laughing_swordfish
laughing_swordfish's picture

Hangings and Guillotinings are nice but messy...

I like the Chinese way...

Fill Yankee Stadium with cheering crowds, and then some 9mm back of the head ventialtion and a quick dirt nap..

Starting with Bernanke, Geithner and Summers...

Thu, 04/14/2011 - 10:28 | Link to Comment A Man without Q...
A Man without Qualities's picture

Don't worry, it's very positive for the markets.  Unions members hardly do any work when they are there anyway, and at least this way, they don't have to pay them...

It's their wives I feel sorry for.....

Thu, 04/14/2011 - 11:27 | Link to Comment midnight
midnight's picture

Mind your own business, redneck. It's for other countries to determine how to handle their own unions

Thu, 04/14/2011 - 12:17 | Link to Comment writingsonthewall
writingsonthewall's picture

Is the acceptance of debt slavery patriotic then? If so then you can keep your patriotism thanks.

 

Unions are merely a survival tool of the people - when they are put under pressure they have to work together against the system.

You could try it too - if you weren't so alone....

I am in an unrecognised union - a workers solidarity - there is no leader and no political agenda - it's just workers clubbing together to protect themselves.

 

If you worked then you could experience that too!

 

Still, it's going to be fun watching all these highly paid bankers and politicians trying to run the trains, sail the ships and working the factories when the strikes hit big time.

 

Strikes are about reminding people who are the REAL wealth creators in society. Banks can have all the FIAT money they want - it won't make that trian move!

Thu, 04/14/2011 - 12:23 | Link to Comment Spastica Rex
Spastica Rex's picture

Harry doesn't live here anymore.

Thu, 04/14/2011 - 10:19 | Link to Comment frenchie
frenchie's picture

strikes didn't change much to what happened to Greece for instance...

Thu, 04/14/2011 - 10:27 | Link to Comment IdioTsincracY
IdioTsincracY's picture

those were not strikes ... after a couple of days things went back to normal ... the dying middle class has become to lazy and complacent to even protest as they move into poverty.

Give it some time ... all we need is the right level of pain ...

Thu, 04/14/2011 - 10:29 | Link to Comment TIMMAYYY
TIMMAYYY's picture

TICK TICK TICK TICK....

 

(i havent been thins tense since i tried explaining that new rash to my wife)

Thu, 04/14/2011 - 11:02 | Link to Comment breezer1
breezer1's picture

i know what you mean.  i sure hope i don't get that AIDS thing again.

Thu, 04/14/2011 - 11:01 | Link to Comment breezer1
breezer1's picture

i know what you mean.  i sure hope i don't get that AIDS thing again.

Thu, 04/14/2011 - 10:58 | Link to Comment Bob
Bob's picture

By then we're gonna be looking at a worldwide socialist revolution.  The pigmen know not what winds they beckon . . .

Meanwhile, we gotta cut that deficit and embrace "serious adult" austerity here.

Thu, 04/14/2011 - 10:22 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

we have an invention called a printing press.  what could be the problem?

Thu, 04/14/2011 - 10:25 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Exactly. We've done macro bailouts (banks, mega corporates and whole countries) now we go micro: bailing out individuals and villages! We start in Portugal and show just how generous the USA can be. 

Thu, 04/14/2011 - 10:30 | Link to Comment ivana
ivana's picture

Printed "money" never reached any of taxpayers. If/when it reach them - it gets conficated automatically by inflationa and/or higher taxes.
In the meantime, economic contraction just keeps going on and on ...

Thu, 04/14/2011 - 13:40 | Link to Comment Urban Redneck
Urban Redneck's picture

Once the printing press product reaches the dirty taxpayers it no longer deemed sterile by CB standards, and they would be forced to admit inflation. 

Thu, 04/14/2011 - 10:23 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Anti-Establishment Revolution widens

Thu, 04/14/2011 - 10:23 | Link to Comment Muir
Muir's picture

 


"This is not the time to be silent. It has to be the time for protest, action and responses," he said.

Portugal launched talks on Tuesday with European authorities and the International Monetary Fund on a bailout that is expected to total 80 billion euros. The bailout deal is expected to include further tax hikes, spending cuts and privatizations"

-

 

Well at least our European brethren are smarter than us.

Thu, 04/14/2011 - 10:22 | Link to Comment Dick Darlington
Dick Darlington's picture
04-14 10:11: EU's Rehn says "We are ready to do whatever it takes to defend the EUR" The European plutocrat ponzi master is on the wires, again, to tell he stands ready to rape every single european tax payer. He has the cdo-like rescue vehicle (which has no capital) but when the crisis intensifies i have my doubts abt the vehicle's ability to raise hundreads of billions of new debt from the markets. Would be better to call it the day and start restructuring the insolvent countries (and banks) debt.
Thu, 04/14/2011 - 10:24 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

i'm a sick fuk, sometimez!  remember the egyptian breadheads?  slewie just pictured the portugese union marching militantly down the streets of lisbon, wearing abalone shells! 

Thu, 04/14/2011 - 10:26 | Link to Comment I am Jobe
I am Jobe's picture

Hey now, we have American Idol and Sports in the USA to keep us occupied. Nothing to see here, move along.

Thu, 04/14/2011 - 13:44 | Link to Comment el Gallinazo
el Gallinazo's picture

Until they repo your 52 inch plasma

Thu, 04/14/2011 - 10:27 | Link to Comment Dick Darlington
Dick Darlington's picture

What are they waiting for? In the spirit of Nike: Just do it!

04-14 10:07: Ireland says will also seek burden sharing in Irish Life and Bank of Ireland
Thu, 04/14/2011 - 10:26 | Link to Comment TIMMAYYY
TIMMAYYY's picture

im off to watch the pianist, just to learn how to survive whats coming up.

Thu, 04/14/2011 - 10:26 | Link to Comment tmosley
tmosley's picture

Yes, let the collectivists consume Europe, and then starve.  I will buy up the remains for a few oz.

Thu, 04/14/2011 - 12:12 | Link to Comment s0lspot
s0lspot's picture

You'd have to explain to us how the "individualists" would do a better job at stopping this financial insanity...

You seem to forget that, wether you like it or not, we are all (in every country) living in collective organizations called society, nation, republic, community, whatever...

Are you living off the grid 100% ? Got your autonomous agriculture, industrial and health system down in your bunker have you? Personal robot surgeon, robot farmer and robot worker all constructed by yourself? If so then how come you play the markets? Got internet? How would you have internet without collective structures providing it to you?

You'd have an individualist internet-ie a lone pc.

Your comment is schizophrenic though I appreciate some of your other posts.

Unions are what ended the Industrial age, child labor, 12h workday, monarchy and a whole lot of other Elitist social control systems.

I agree that unions, just like banks, states and other technocratic structures have spinned out of control in the last 30 years but the hard truth is : it's all the People have left.

Especially here in Europe. In Obummer's land i frankly have NO idea how the People(s) might be able to stop the Cabbal without some sort of collective organization - spirit. In Europe unions can be successfull, sometimes...

Unions are a classwarfare weapon. If you hate unions then you hate people fighting for their right to live in decency.

Today here in Spain is the Day of the Republic. Without unions (old school, sincere and not self-centered ones of course) the country would be 3rd world class without a doubt.

Unions fought Thatcher till the bitter end and lost. Neoconeysian policy brought England to the shithole it is in right now.

Luckily 95% of them are betraying the people just like politicians so they'll soon end up like the state ; a distant memory.

But this hate on collectivism is akin to pre-adolescent nihilism : a lot of senseless noise.

EDIT : in the EU you have both private & public sector unions ; its not a matter of state workers Vs private sector worker as it seems to be in Amerika.

Thu, 04/14/2011 - 12:18 | Link to Comment IdioTsincracY
IdioTsincracY's picture

I love you!!!

:-)

Thu, 04/14/2011 - 12:25 | Link to Comment writingsonthewall
writingsonthewall's picture

Brilliant post - unfortunately it's probably lost on the audience it was intended for.

 

They actually think a man is an island and that they can 'manage on their own' - but when the SHTF then they will all become 'socialists' overnight.

 

There's nothing as sickening as an individualist who relies on others but simply isn't aware and crows about how he / she is able to 'manage by themselves'

Thu, 04/14/2011 - 10:26 | Link to Comment Josh Randall
Josh Randall's picture

Don't sing it, Bring it

Thu, 04/14/2011 - 10:26 | Link to Comment RobotTrader
RobotTrader's picture

Yet another reason to turn on the printing presses full blast.

Then watch the unintended consequences:

New highs for WFMI, SBUX, CMG, PNRA, etc.....

LOL......

Thu, 04/14/2011 - 10:33 | Link to Comment HamyWanger
HamyWanger's picture

Must agree with Robot on this one. The coming Greek restructuration too will be a perfect excuse to press the "magic button" and diluate value into infinite fiat. 

The DOW will easily reach 16,000 in 2012, to the great disappointment of doomers. 

Thu, 04/14/2011 - 11:34 | Link to Comment dark pools of soros
dark pools of soros's picture

correct - I was in Miami and the young beautifuls from Manhattan that were down there were complaining how everything is so expensive..  they are being raised on it..  conditioned that prices on anything can go up weekly

 and they were on a free trip on 'work' 

 They will all live as far and good as their expense accounts allow 

 

Thu, 04/14/2011 - 12:28 | Link to Comment sagerxx
sagerxx's picture

Sure: the DOW will hit 16000...and be worth 8000 in April 2011 dollars. But call that a win Hamy. It's what you do.

Thu, 04/14/2011 - 10:34 | Link to Comment William Wallace
William Wallace's picture

I don't know why people even wonder about this or discuss it.  When have they not used the printing press? Okay, 1981 when Paul Volcker slowed down the money printing.  But that was 30 years ago.  Things were a lot different then.

Just because they say they are not using it does not mean they are not using it.  With central bankers, "deceiving the people about money printing" is the first item in their job description.

Thu, 04/14/2011 - 10:31 | Link to Comment RobotTrader
RobotTrader's picture

Looks like the lows are in.

Hurry up and buy now, otherwise, deal with "performance anxiety" for the June 30 statement print.

Thu, 04/14/2011 - 10:38 | Link to Comment lieutenantjohnchard
lieutenantjohnchard's picture

doing everything he can to distract from his losing portfolio with a post per minute.

any minute now the board ought to expect his daily rant against we merry band of silver and gold holders, even as silver hits a new high.

lol, as he would bray.

Thu, 04/14/2011 - 10:43 | Link to Comment Quintus
Quintus's picture

Robo, a couple of hundred years ago, you'd have been a Dutch tulip speculator pointing at the amazing performance of tulips over the previous 5 days and urging people to get in before it's too late.  Fundamentals be damned!  Just follow the momentum!  Your precious retail stocks will suffer the same fate as the tulip bulbs did, because their 'Gains' rest on the same worthless foundations.

Sigh.  Everyone thinks he'll be the smartest guy in the room, able to ride the bubble and jump out at the top and leave the 'Suckers' to their losses.

Thu, 04/14/2011 - 10:42 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Sorry. Top was in April 8th. Steady down from there into summer

Thu, 04/14/2011 - 10:44 | Link to Comment SheepDog-One
SheepDog-One's picture

Lows are in with silver, thats about it.

Thu, 04/14/2011 - 10:34 | Link to Comment baby_BLYTHE
baby_BLYTHE's picture

The fed is printing money it can't repay, the banks are stacked like the biggest house of cards the wind has yet to blow upon, student debt is at records highs, household/credit card debt is at an all-time high as well, the retirement nest egg called social security is a piggy banks stuffed with I.O.U.'s and the governement is already laying the ground work to tell the people it's going to be a broken promise after all....

The kids are having a harder time graduating high school, those that do can afford college even less than before (nearly all my friends have at least 20k in debt).

...and America has an obesity problem? People don't know how good they have had it.
The coming collapse will turn a lot of heads. Hopefully we can get a real movement to "take back the country" and restore this thing before it is truly unrepairable

Thu, 04/14/2011 - 10:37 | Link to Comment TIMMAYYY
TIMMAYYY's picture

ill watch from here...the revolution will be televised yes?

Thu, 04/14/2011 - 10:43 | Link to Comment baby_BLYTHE
baby_BLYTHE's picture

yeah, remember this?

http://www.youtube.com/watch?v=-VMXz6xGeqc

Note: This was not the phony Glenn Beck prayer group rally, even though he did play a pary in rallying people to D.C. on that day.

Back to what I was saying yesterday, why aren't people doing this now? Is it because the S&P 500 has doubled? People aren't aware the worst is yet to come?

Thu, 04/14/2011 - 10:45 | Link to Comment SheepDog-One
SheepDog-One's picture

'Normalcy bias' is rampant in the neandersheeple hive.

Thu, 04/14/2011 - 11:05 | Link to Comment dexter_morgan
dexter_morgan's picture

dp

Thu, 04/14/2011 - 11:04 | Link to Comment dexter_morgan
dexter_morgan's picture

+

Thu, 04/14/2011 - 10:48 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

slewie thinks somebody just got to work and would rather taking X today...

Thu, 04/14/2011 - 10:52 | Link to Comment baby_BLYTHE
baby_BLYTHE's picture

X? Really, Slewie?

I heard taking ecstasy is like taking a giant ice cream scoop out of your brain.

Thu, 04/14/2011 - 10:56 | Link to Comment TIMMAYYY
TIMMAYYY's picture

"I heard taking ecstasy is like taking a giant ice cream scoop out of your brain."

i prefer meth...you get more done.

http://www.youtube.com/watch?v=p43YYovonS0

Thu, 04/14/2011 - 11:00 | Link to Comment baby_BLYTHE
baby_BLYTHE's picture

haha, and here I thought I was hxc for growing and smoking in my apartment here on campus!

Meth sounds like an expensive habit. But cheers none the less!

Freest country on earth, remember!

Thu, 04/14/2011 - 11:03 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

lol!  let's just fire up the bong and enjoy the coffee, b_B!  i'm w/ you!

Thu, 04/14/2011 - 11:23 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

oops

Thu, 04/14/2011 - 10:54 | Link to Comment Rick Masters
Rick Masters's picture

I think its cause the tea party needs a better PR person cause they are look at, at least by my group of freinds, as a fringer religous movement that hates Obama and didn't care about the difict when Bush was in office so they are largely dismissed. And also it's a lot of old people dressed profoundly weird. In essence: it's cliquish and it's not going to attract people. There has to be a new movement that attracts young people in their 20s and 30s that is not socially conservative and just focused on our economic future. Rand Paul embodies this. I don't view him as some religous guy (is he?);  i view him as a guy who is serious about the deifict hence why he wants to cut defense. I like his style. But the Christine Odonnell people have destroyed the tea party beyond repair. This is all IMHO :>)

Thu, 04/14/2011 - 11:08 | Link to Comment baby_BLYTHE
baby_BLYTHE's picture

On your question pertaining to Rand and religion...

http://www.youtube.com/watch?v=p2wExvVP1Xk

It really doesn't matter one way or another, to me at least.

Ron Paul speaks and writies about populist issues. Even when it comes to entitlment programs, which he calls "unconstitutional", Ron is sympathtic and would not cut those before military and other wasteful spending.

The interesting thing to watch in this election will be to see how many of the college kids switch from Obama to Ron Paul. It was happening like wildfire in 2008- I know because I attented several rallies and heard Dr. Paul speak.

It is exciting to see so many people getting behind a 75 year old veteran congressman. Slowly but surley, people are coming to understand just how much danger we are in and how important it will be to have a President that actually PUTS AMERICA FRIST rather than letting the banks and CIA/Military run the country into the ground

Thu, 04/14/2011 - 11:17 | Link to Comment Rick Masters
Rick Masters's picture

I think a lot of people will switch especially if Mr. Paul campaigns as vigorously as he did in 2008. I agree religion doesn't matter so much but here in the NE where I am I could see some people turned off from a candidate if they are overly religious. But let me clarify: when i say overly I mean they don't want samll gov't persay they want a gov't that enforces morals and religion. Like the defense of Marriage Act. Leave it to the states. Why do we need a federal law?

Thu, 04/14/2011 - 11:15 | Link to Comment InconvenientCou...
InconvenientCounterParty's picture

What is the common value set of these protesters? What do they have in common really? Allow me to begin and someone else can finish.

1.Anger at something or someone.

2.They feel threatened by someone or something

3.Predominantly W.A.S.P.

4.Predominantly middle class. They can travel, stay in hotels eat out, etc.

5.Predominantly receive their information through Fox info-taintment

6.They are ambulatory.

That's all I can come up with, someone please continue. I'm trying to grasp how a group like this with all it's negative baggage can be potent as a group. Sure, they can practice splitered sedition, terrorism, violence, intimidation but movements like that never get very far.

 

Thu, 04/14/2011 - 10:39 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Unions are the collective rallying for their rights.  Does the collective always know what they can get?  No.  Case in point, Wisconsiners look foolish asking for pensions when the global debt is in the quadrillions, but jobs are another matter. 

People may never see SS, they may not have medicare very soon, they will not get their pensions, but jobs willl be abundant as long as we are a society, which hopefully will be always.

Thu, 04/14/2011 - 10:41 | Link to Comment sangell
sangell's picture

Is this part of the 'credible and sustainable' solution Janjuah ( below) foresees coming out of the EU this year?

Thu, 04/14/2011 - 10:54 | Link to Comment ElvisDog
ElvisDog's picture

The sad thing about the Portugal unions is that austerity is evitable. Who do they think is going to pay for the pay and benefits that they are used to and expect forever  in the future? The party is over, the lights are being turned off, and the bar is closed. Protesting/Striking might make them feel better, but what exactly is their best case scenario? In my opinion, their best case scenario would be to default on all of their external debt.

Thu, 04/14/2011 - 10:58 | Link to Comment Ricky Bobby
Ricky Bobby's picture

We must abolish the word "Union" it is misleading. I think "Moochers" or Parasitesis is more appropriate.

Thu, 04/14/2011 - 11:21 | Link to Comment InconvenientCou...
InconvenientCounterParty's picture

I'm interested receiving more of your enlightenment.

What three antonyms for the word "union" would you offer?

Are you familiar with the history of unions?

Have you ever been a union member?

Have you ever had a job?

Thu, 04/14/2011 - 12:03 | Link to Comment Ricky Bobby
Ricky Bobby's picture

I have survived in the marketplace, you know the mythical one where if you don't deliver value you don't eat. You know where free individuals decide to make a deal with you or not.  Something you looters or moochers wouldn't understand.

Thu, 04/14/2011 - 12:32 | Link to Comment writingsonthewall
writingsonthewall's picture

...so never had a job and never done a day's work in your life then...

 

OK - we know what purpose you serve in society - you are a parasite - you take wealth but you do nothing to produce it.

...and you have the gall to call unions parasites!!!

Thu, 04/14/2011 - 13:02 | Link to Comment Ricky Bobby
Ricky Bobby's picture

Fuck off

Thu, 04/14/2011 - 12:32 | Link to Comment HellFish
HellFish's picture

Ricky Bobby for the win.

Thu, 04/14/2011 - 12:35 | Link to Comment HellFish
HellFish's picture

Ricky Bobby for the win.

Thu, 04/14/2011 - 11:26 | Link to Comment samsara
samsara's picture

Your reposting this a half dozen times affords me to double post this.

 

Remember when teachers, public employees, Planned Parenthood, NPR, and PBS crashed the stock market, wiped out half of our 401Ks, took trillions in TARP money, spilled oil in the Gulf of Mexico, gave themselves billions in bonuses, and paid ZERO taxes on billions in profit?

Yeah, me neither.

Thu, 04/14/2011 - 11:51 | Link to Comment ElvisDog
ElvisDog's picture

Your argument shows invalid logic - because the teachers didn't cause/take advantage of the economic meltdown 2008 we can't cut their pension/healthcare benefits we can't afford now. Those are two completely separate issues and linking them is disingenous at best.

Thu, 04/14/2011 - 12:32 | Link to Comment Spastica Rex
Spastica Rex's picture

Not disingenuous, just inconvenient, and I don't think you're parsing the logic very well.

Nobody ever likes the other side's propaganda.

Thu, 04/14/2011 - 12:48 | Link to Comment ElvisDog
ElvisDog's picture

By disingenuous I meant that I assumed Samsura was smart enough to know that the two issues he linked were completely unrelated.

Thu, 04/14/2011 - 10:58 | Link to Comment Ricky Bobby
Ricky Bobby's picture

We must abolish the word "Union" it is misleading. I think "Moochers" or Parasites is more appropriate.

Thu, 04/14/2011 - 12:33 | Link to Comment Spastica Rex
Spastica Rex's picture

That sounds interesting, can you expand on that? I'm not in a union so I have limited knowledge.

Thu, 04/14/2011 - 11:00 | Link to Comment topcallingtroll
topcallingtroll's picture

The germans are not going to give money to the south forever so that the south can live the high life off the german savings.

Portugal has the lowest educational level in all of europe, and their ignorance about economics is showing.

Prepared to get stiffed, creditors of portugal.

Thu, 04/14/2011 - 11:05 | Link to Comment tahoebumsmith
tahoebumsmith's picture

But most importantly, where will the credit money come from to push the world from this latest imminent downturn? This is the 3.5 TRILLION DOLLAR question...The answer is there isn't enough money to keep this ball from coming unraveled. They have painted themselves into such a small corner that now they look like GM lots across America. So they spent TRILLIONS of dollars to create a pseudo recovery and now we realize the truth... There is no recovery, the plan was always intended to load the pockets of the CRONIES and leave the SERFS of the world with nothing but the bill.

Thu, 04/14/2011 - 11:01 | Link to Comment adonisdemilo
adonisdemilo's picture

if the revolution is against the EU and more importantly the IMF the Porugese need to make it stick.

there is a far bigger problem on the horizon.

the IMF has to get the hell out of the way.

the IMF appears to be considering that arch socialist Gordon fucking Brown as the new boss.

that spells disaster for ANYBODY not employed by the state, he thinks he knows better than you how to spend your money.

in fact that's the only thing he is any good at, and he is the best at spending other peoples money, world fucking champion.

he destroyed the best private pension scheme in the word in the UK.

he "organised" better value from the doctors by cutting their hours and giving them at least 50% more pay.

sold half our gold at the bottom and warned he was going to thereby getting the worst possible price

he told everybody he'd sorted the economy by getting rid of boom and bust.

HE GOT RID OF THE BOOM ALRIGHT WITH HIS SOCIALIST WELFARE CRAP

AND THE BUST GOT RID OF HIM THANK GOD

not just Portugal, the whole fucking world will soon be at a standstill if he gets his hands on the power of the IMF

Thu, 04/14/2011 - 11:01 | Link to Comment Ricky Bobby
Ricky Bobby's picture

We must abolish the word "Union" it is misleading. I think "Moochers" or Parasites is more appropriate.

Thu, 04/14/2011 - 11:34 | Link to Comment dexter_morgan
dexter_morgan's picture

Sir, don't you know that unions and government are solution to all lifes problems? (and the cause of most too, but you'll not hear that on this site full of 'investors' making profits off QE2 mixed with the 'government has all the answers' crowd - i.e. Keynsians on the site)

Thu, 04/14/2011 - 10:59 | Link to Comment topcallingtroll
topcallingtroll's picture

The germans are not going to give money to the south forever so that the south can live the high life off the german savings.

Portugal has the lowest educational level in all of europe, and their ignorance about economics is showing.

Prepared to get stiffed, creditors of portugal.

Thu, 04/14/2011 - 11:01 | Link to Comment adonisdemilo
adonisdemilo's picture

if the revolution is against the EU and more importantly the IMF the Porugese need to make it stick.

there is a far bigger problem on the horizon.

the IMF has to get the hell out of the way.

the IMF appears to be considering that arch socialist Gordon fucking Brown as the new boss.

that spells disaster for ANYBODY not employed by the state, he thinks he knows better than you how to spend your money.

in fact that's the only thing he is any good at, and he is the best at spending other peoples money, world fucking champion.

he destroyed the best private pension scheme in the word in the UK.

he "organised" better value from the doctors by cutting their hours and giving them at least 50% more pay.

sold half our gold at the bottom and warned he was going to thereby getting the worst possible price

he told everybody he'd sorted the economy by getting rid of boom and bust.

HE GOT RID OF THE BOOM ALRIGHT WITH HIS SOCIALIST WELFARE CRAP

AND THE BUST GOT RID OF HIM THANK GOD

not just Portugal, the whole fucking world will soon be at a standstill if he gets his hands on the power of the IMF

Thu, 04/14/2011 - 11:00 | Link to Comment adonisdemilo
adonisdemilo's picture

if the revolution is against the EU and more importantly the IMF the Porugese need to make it stick.

there is a far bigger problem on the horizon.

the IMF has to get the hell out of the way.

the IMF appears to be considering that arch socialist Gordon fucking Brown as the new boss.

that spells disaster for ANYBODY not employed by the state, he thinks he knows better than you how to spend your money.

in fact that's the only thing he is any good at, and he is the best at spending other peoples money, world fucking champion.

he destroyed the best private pension scheme in the word in the UK.

he "organised" better value from the doctors by cutting their hours and giving them at least 50% more pay.

sold half our gold at the bottom and warned he was going to thereby getting the worst possible price

he told everybody he'd sorted the economy by getting rid of boom and bust.

HE GOT RID OF THE BOOM ALRIGHT WITH HIS SOCIALIST WELFARE CRAP

AND THE BUST GOT RID OF HIM THANK GOD

not just Portugal, the whole fucking world will soon be at a standstill if he gets his hands on the power of the IMF

Thu, 04/14/2011 - 11:12 | Link to Comment IdioTsincracY
IdioTsincracY's picture

Unbelievable ... there is no hope ....
as banksters and company completely destroy our way of life, we got people talking socialism and blaming unions ....

Socialism is already here ... it's called rig-the-rules and massively-screw-95%-of-the-population (BTW that includes most of us here)

Unions are bad ... yeah right!!
In fact:
who wants to earn enough for quality life, when we can work for pennies,
who needs paid vacation time when we could work on week-ends and be more 'productive'
why bother with a decent retirement, when we can work from our death bed using our ipad,
do we really need health coverage, when we can just fye and get out of the way
maybe we can bring back child labor... and maybe even slaves ...

I'll tell you down with the unions ... and btw who are these people anyway?! ... oh wait ... it's us! sh!t

Thu, 04/14/2011 - 11:27 | Link to Comment samsara
samsara's picture
Remember when teachers, public employees, Planned Parenthood, NPR, and PBS crashed the stock market, wiped out half of our 401Ks, took trillions in TARP money, spilled oil in the Gulf of Mexico, gave themselves billions in bonuses, and paid ZERO taxes on billions in profit?

Yeah, me neither.

Thu, 04/14/2011 - 11:45 | Link to Comment IdioTsincracY
IdioTsincracY's picture

Right on!!

The reason that 95% keep losing to 5% is because of people who will NEVER get this.

They see chart after chart showing the demise of the middle class (and therefore of the Country) and still believe in the myth of a 'free' market ....

There is no 'free' market ... there is a market with rules ... so how come the current rules are written so that 0.1% of the population makes out like a bandit, while all we can do is bend few extra degrees over?!?!

Thu, 04/14/2011 - 12:18 | Link to Comment ElvisDog
ElvisDog's picture

The problem is that you apparently cling to a romantic, early 20th century vision of unions as egalitarian forces to help the common man. 21st century unions exist for one purpose - to protect and expand the pay and benefits of their most senior members. They are elitist by the very definition of the word because not everyone can become a senior member of a union (ask anyone who wants to become a firefighter).

When given a choice between a small rollback of pay and benefits to keep all union members employed versus maintaining the pay and benefits of senior union members while laying off some of the junior members, modern unions always choose the path of protecting the tenured members.

Thu, 04/14/2011 - 12:35 | Link to Comment writingsonthewall
writingsonthewall's picture

...what evidence do you have for this? - or were you told by a reliable republican?

Thu, 04/14/2011 - 13:00 | Link to Comment ElvisDog
ElvisDog's picture

Charles Hugh Smith (http://www.oftwominds.com/blog.html) and Mish have done an extensive series of articles on modern unions and what they stand for. You can read what they wrote and come to your own conclusions. And Charles Hugh Smith is not a Republican. As for firefighters, my wife works with a woman who is married to a Seattle firefighter, so I get that information directly from the source. Is that evidence enough for you?

Thu, 04/14/2011 - 11:45 | Link to Comment dexter_morgan
dexter_morgan's picture

No but I do remember Central States and the RR unions that left family members and friends flat broke - zero in their pension plans.......musta been some damn businmen infiltraded those unions and took all the dough, eh.

Thu, 04/14/2011 - 11:29 | Link to Comment Ricky Bobby
Ricky Bobby's picture

Bull shit unions are not us. It seperates us, State workers against everyone else. Yeh 10-20% receive a fantastic living and well the rest of you figure it out. If you do happen to make some money the state will take it to pay those sweet pensions. On top of that the state will designate certain groups as perferred workers, ie ... any group other then white males.

Thu, 04/14/2011 - 11:36 | Link to Comment IdioTsincracY
IdioTsincracY's picture

I get it... instead of private companies raising their standards to those of public workers, let's lower everybody's standards.

First, the idea of public workers getting more than private one is a myth... you cannot compare a teacher with graduate degrees to a teen flipping burgers

Anyway, since this 'trickle-down' economics, private-for-all thing is working so well, by all means, let's kill unions, so that JPM or GS can care for us....

keep drinking the koolaid

unreal!!

Thu, 04/14/2011 - 11:41 | Link to Comment Ricky Bobby
Ricky Bobby's picture

Retiring on 70% of an inflated salary is no myth.

Thu, 04/14/2011 - 11:46 | Link to Comment IdioTsincracY
IdioTsincracY's picture

Inflated compared to what exactly?

Salaries have been going down for the past 30 years ... where the heck have you been???

Thu, 04/14/2011 - 11:47 | Link to Comment Ricky Bobby
Ricky Bobby's picture

In the private sector, not in the public sector.

Thu, 04/14/2011 - 11:50 | Link to Comment IdioTsincracY
IdioTsincracY's picture

same here dude! so what ....

if you fall in the top 5% of the population ... just enjoy it,
if not, don't know what to tell you...

Thu, 04/14/2011 - 12:07 | Link to Comment Ricky Bobby
Ricky Bobby's picture

Glad to hear you have one of those 6 figure union jobs.

Thu, 04/14/2011 - 11:44 | Link to Comment Temporalist
Temporalist's picture

So private companies should raise their standards to public sector employess compensation except for burger flippers?  I guess I'd become a burger flipper if I got a pension.  How many years do I have to put in?  Do I get medical for the repetitive stress syndrome from my wrist flipping action?  I guess disability will take care of me for dropping the pickle jar on my toe.  I'd also expect hazard pay for working around so much transfat...but not to worry I'll get free healthcare to pay for my obesity too.

 

Thu, 04/14/2011 - 11:48 | Link to Comment IdioTsincracY
IdioTsincracY's picture

No we're just doing fine the way it is.... why change anything... all we need is being more productive, work for less, retire at 90, and eat healthy and exercise hoping not to get sick....

Thu, 04/14/2011 - 11:54 | Link to Comment Temporalist
Temporalist's picture

So unions solve this right?  Greeks retire at 55 and that country is doing fantastic!  Oh and Spain too...just don't look at the male 18-30 unemployment stats.  At least they get to be less productive while they are unemployed.

People actually used to come to the U.S. because they were ALLOWED to work hard because there were no opportunites elsewhere to try to make a living.  Now they want to bitch about it.  If you can't wait to retire nobody is stopping you from living in a van down by the river. 

Thu, 04/14/2011 - 12:02 | Link to Comment IdioTsincracY
IdioTsincracY's picture

there is plenty of money around, just not for us.

Financing meant to invest into worthy human enterprises, now it is an algorithmic extraction of wealth.

You keep talking private against public, left against right, socialism against capitalism...

I'm talking 5% against 95%, speculation against real investment, democracy against oligarchy...

whatever! as I said ... no hope!

We're doing great!!!

Thu, 04/14/2011 - 12:07 | Link to Comment Temporalist
Temporalist's picture

Speculators put capital at risk and one outcome is to lose it all.  It is the government and banksters that would eliminate the risk in order to have no failure which is an impossibility.  The government then pretends that lost capital was not at risk and dumps it on the taxpayer.

There is plenty of monopoly money around.

The disparity between wealthy and poor is not being debated; the conclusions you draw to how the disparity arose is.  If you think the same people that don't believe in unions also are for banksters stealing from the poor you have a lot more to understand.

Thu, 04/14/2011 - 13:31 | Link to Comment IdioTsincracY
IdioTsincracY's picture

Investment risk based on research and need to finance worthy endeavors is dead ...
HFT algos do not give a rat's ass about worthy anything ... it is wealth extraction at light speed, pure and simple ..

buckle UP!!

Thu, 04/14/2011 - 12:08 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

i don't mind unions in the private sector, T.  if they get too greedy, they put themselves out of work.  or they should, at least.

public employees unions are bad news.  they get too greedy, they bankrupt us.  we need to send a heluva lotta public "employees" home.  take the pressure off the taxpayer.  take the drain off the public funds.  if it's broke, we need to fix it.  we don't work for them.  they work for us.  sorry if that's news to many.  it shouldn't be.

Thu, 04/14/2011 - 12:17 | Link to Comment Ricky Bobby
Ricky Bobby's picture

+1

Thu, 04/14/2011 - 11:46 | Link to Comment Ricky Bobby
Ricky Bobby's picture

So you are saying my choice is between becoming a state slave or banker slave.

Thu, 04/14/2011 - 11:53 | Link to Comment IdioTsincracY
IdioTsincracY's picture

no ... that is not is....

the rules regulating our economy do not come from God, nor are written in the laws of the Universe. They are man-made and can be changed ... the middle class is disappearing, let's change the rules ... just this time we write them

see ... easy

Thu, 04/14/2011 - 11:41 | Link to Comment dexter_morgan
dexter_morgan's picture

I admire your stamina in taking on the government has all the answers crowd, but they are so entrenched in their ideology (and the profits that spew from it) that they will not be moved. Don't you know corporation are the embodiment of evil in the world? We must trust government to provide jobs........and everything else since the people in government for some reason are so much better and more ethical than those lousy greedy businessmen. Koolaid.......classic

Thu, 04/14/2011 - 11:50 | Link to Comment IdioTsincracY
IdioTsincracY's picture

Nobody is talking government ... we're talking the wonder-guys of free enterprise who are moving to Singapore as they keep shoving it to the rest of us

Thu, 04/14/2011 - 11:58 | Link to Comment Ricky Bobby
Ricky Bobby's picture

Yeh the concept of freedom, self sufficiency, and independence are so naive. I must be a dreamer, kind of like those crazy Christians.

Thu, 04/14/2011 - 12:05 | Link to Comment IdioTsincracY
IdioTsincracY's picture

Right ... because we're living in the wild west here ... independence?!?!? self-sufficiency?!?!/

Wake up dude! they're making us compete with the lowest denominator work force

Thu, 04/14/2011 - 13:51 | Link to Comment nufio
nufio's picture

please explain  why that is unfair? is it because you believe you have the god given right to be better off than the "lowest denominator work force"? that is probably similar to what the oligarchs think.

Thu, 04/14/2011 - 12:00 | Link to Comment Temporalist
Temporalist's picture

The government is what is forcing some of these people to foreign countries because they are taxed out.  And I agree with the sentiment behind your desires but the direction of the blame is off target. 

Banksters, governments, unions and politicians do not create.  Industrialists, small business owners and entrepreneurs do create. 

 

Thu, 04/14/2011 - 12:06 | Link to Comment IdioTsincracY
IdioTsincracY's picture

right ... GE gets a tax refund after having paid 0% taxes, so does BoA, and all the others ... and they are moving because of taxes ... not because they found people who work for 1/10 of what they pay here

enough ... waste of my time ... I'm out

Thu, 04/14/2011 - 12:15 | Link to Comment Ricky Bobby
Ricky Bobby's picture

The GE's of the world can only exist through the power of the state. So you support  the state and accuse me of supporting GE. Not true hate them both.

Thu, 04/14/2011 - 12:17 | Link to Comment IdioTsincracY
IdioTsincracY's picture

read what I wrote, not what you think I wrote

Thu, 04/14/2011 - 12:16 | Link to Comment Temporalist
Temporalist's picture

You say people "wonder-guys" (your words) are moving then you move to corporations.  I am talking people not companies.  Business people that want to do business in U.S. but find it too difficult.

I suppose the reason there are people that work for 1/10 is clearly because they don't have unions right?  If only foreigners had higher salaries the U.S. would be A-OK!

 

And would you associate taxes with governments that go to war against the wishes of its people and handing our largesse with economic and fiscal problems?

 

You are wasting everyone's time it seems.

Thu, 04/14/2011 - 12:22 | Link to Comment IdioTsincracY
IdioTsincracY's picture

once again... read what i wrote, not what you think I wrote

Thu, 04/14/2011 - 12:38 | Link to Comment Temporalist
Temporalist's picture

I don't think what you think you thought you wrote explains what you think it does.

Thu, 04/14/2011 - 13:14 | Link to Comment IdioTsincracY
IdioTsincracY's picture

At least you got this one right!!
LOL

Thu, 04/14/2011 - 13:18 | Link to Comment dexter_morgan
dexter_morgan's picture

Sir, I also admire your patience and stamina! The ones that have drunk the government cures all koolaid will never look far enough back to see that the symptoms which they see and rant about now were in most cases created by, or with help of, the government and laws they created. The phrase " the government that governs least governs best" is antiquated and has no meaning for these enlightened ones. But, they erect the straw dog argument that "oh, so you want to get rid of the EPA, SEC, blah, blah, blah, and then we'll be better off?" instead of realizing in some cases less is more, and less doesn't have to be none. BP oil spill case in point. BP has one of the worst, if not worst, drilling safety records in the highly regulated industry. Relative who works for Exxon was always amazed at how they could get away with it? Where were the inspectors, etc.....

Gee, think about it - HOW could they get away with blatant violations and poor safety record? Then, when the SHTF with the well happened.......well those evil rotten BP guys that did all this while nobody turned a blind eye..........big business thrives under big government.

 

Thu, 04/14/2011 - 13:24 | Link to Comment IdioTsincracY
IdioTsincracY's picture

So when a criminal commits a crime, we blame the cops for not being there to stop it ...

fair enough...
but, how about dealing with the criminal in the first place ?!?

Thu, 04/14/2011 - 13:47 | Link to Comment Temporalist
Temporalist's picture
U.S. Companies Pay World’s Sixth-Highest Tax Rate, Study Finds

http://www.bloomberg.com/news/2011-04-14/u-s-companies-pay-world-s-sixth...

 

Just a little bit of fact.  Now whether they actually pay or are subsidized by .gov is a different issue. 

 

Thu, 04/14/2011 - 11:59 | Link to Comment Ricky Bobby
Ricky Bobby's picture

+1

Thu, 04/14/2011 - 12:35 | Link to Comment writingsonthewall
writingsonthewall's picture

Sooooo...you blame the public sector workers because they were smart and work together to protect themselves?

 

Surely this is a problem of the private sector workers who gave up that collectivisation and swapped it for "a promise of wealth beyond your dreams"....which of course was bullshit - and now they're unhappy.

 

So much for aspiration - seems that you're only happy when everyone else is dragged down to your shitty level.

 

You made the choice - now you're full of regret. That's not the fault of the public sector workers - it's your own stupidity.

Thu, 04/14/2011 - 12:51 | Link to Comment Ricky Bobby
Ricky Bobby's picture

Smart, I guess. If the mafia runs your neighborhood I guess it is smart to join.

Thu, 04/14/2011 - 13:13 | Link to Comment IdioTsincracY
IdioTsincracY's picture

Unfortunately their stupidity is the very thing holding back any meaningful reform.
Even though 90% of us share the same faith, half of that still believes that in order to save us from democracy, we must uphold the God-given rights of the oligarchy.

So while a rich dude is buying himself a small island at the Bahamas, courtesy of the rigged-economic-system, we keep fighting left against right, as we march to our destruction...

left..right...left..right... and off we go!

Thu, 04/14/2011 - 11:34 | Link to Comment Temporalist
Temporalist's picture

A union of 725,000 people is not a union it's an army.

Thu, 04/14/2011 - 12:48 | Link to Comment Híppos Purrós
Híppos Purrós's picture

In other news... it transpires that MGM Resorts International together with their regional partner Pansy Ho (you can't write this stuff! - is he/she Bang Dae Ho's broder/seester) is tendering an IPO on the HangSeng re: their joint facilities in the former Portugese colony/'den of iniquity', Macau...

 

[BBC] - MGM agrees a deal to control its Macau casino venture

 

http://www.bbc.co.uk/news/business-13075098

 

Thu, 04/14/2011 - 13:23 | Link to Comment s0lspot
s0lspot's picture

Those who sincerely still believe the US model got it right and "socialists" (ie-lets say around 70% of the world countries which apply some sort of wealth repartition) are either blindless Teapartiers patriots or plain lunatics living in hopium country.

What we are going through was predicted by Marx & other economists a hundred years ago. It is not an error it is fully part of the plan. The plan was flawed right from the beggining. You cannot build a country (collective organization with a social contract) based on pure individualism, capitalism (repeat the mantra "the markets will self-regulate") & protestant ethics (the rich deserve it the poor gets it up the arse because God says so).

We will have to kill God & the $/€ if we ever hope to get to the next stage. They distort reality so much i feel like crying.

It was bound to fail and we'll all fail along, except it'll take more time in the old world because most the old world was rebuilt on solidarity, not competition. (no judgement of which is bes but common sense is balance between the two, the famed middle path which applies to EVERYTHING ON THIS EFFIN' PLANET).

Stray away from it and you fail, wether a country or an individual. Here in EU they fucked us up with the Euro and the Constitution (France, Ireland and Holland voted it down but democracy's for pussies) and this is our burden, our straying away...

Revolution in America will be swift and horrendous. Mad Max Baby!

BTFD on rusted buggies!

Thu, 04/14/2011 - 13:42 | Link to Comment Temporalist
Temporalist's picture

Ahh quoting Marx and calling him an economist...

Thu, 04/14/2011 - 21:37 | Link to Comment honestann
honestann's picture

A strike is a great idea.

#1:  Don't show up for work.

#2:  You're fired.

#3:  Months without pay.

#4:  Apply for new jobs at lower wages.

Problem solved... or at least well on the way.

Do NOT follow this link or you will be banned from the site!