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Quotes Du Jour From G-Pap
04/28 02:29PM GREEK PM SAYS WE ASK FOR NO BAILOUT, JUST REASONABLE TERMS ON OUR LOANS
04/28 02:02PM GREEK PM SAYS WILL CUT BUDGET DEFICIT BY 4 PCT OF GDP IN 2010
04/28 02:23PM GREEK PM SAYS GREEK INTEREST RATES ILLOGICAL BASED ON MARKET FUNDAMENTALS
h/t Joel
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aren't the fundamentals exactly why the rates are that high, you know, except for here in the U.S. where fundamentals don't mean shit
But that is what he means isn't it.. the market isn't based on fundamentals so why should the interest rate be where it is..
G-Pap is perhaps the only leader who has fully adapted to the new reality of unreality.
Well played... say you are going to cut... get the money... don't cut a dam thing. Heck I would increase spending. Why in the hell not? Make everyone in Greece think you are the best.
Now you must be at least part italian.
F-ing-A.
...and not just Greece. All countries should do the same. Especially the good old US of A.
Let's really see if the global demand for FRN's is, literally, infinite.
Let's take moral hazard to the next level; to it's logical conclusion. Stop dicking around and REALLY start droppiong FRN's from helicopters, airplanes, hot-air balloons, zeppelins, auto-gyros, etc.
Why the hell not? Let'd put the theory to the test.
Sweet! And not only give oodles of dollars to prop up the failures, also take dollars away from the successes!
oh wait, we already do that.
I think about this daily. Like this right?
joker parade:http://www.youtube.com/watch?v=Svf2aWr0hfI
he's absolutely right! based on fundamentals, greek rates would be much much higher.
These quotes from the Bildeberger...anything goes now, huh Baw knee?
"04/28 02:23PM GREEK PM SAYS GREEK INTEREST RATES ILLOGICAL BASED ON MARKET FUNDAMENTALS"
Where is Harry Wanger? He would understand this better than I.
Who is being illogical? The entire foreign bond market? Or G-Pap?
Hmmm......which one.....?
You can't make this shit up. Pappy's other ludicrous statement of late:
"Assumptions about Greece not based on reality; based on prejudices"
People, we have a meth smoker.
He already played the racist card a couple of weeks ago. "You're a racist if you don't lend us 85 billion euros! And a nazi too!". Works well if you need money from the Germans.
But you can make this shit up. It's part of their job description.
Duties include: Making shit up. Keeping populace in line. Avoiding takeover by foreign governments & corporations.
I would only amend the last line to say, "Supervise the orderly transfer of soverign assets to foreign corporations whilst deftly taking bribe"
04/28 02:52PM GREEK PM SAYS WILL INCREASE MINISTRY STAFF SALARY FOR WORKING SO MUCH THESE DAYS. PLANNING HEFTY BONUS FOR YEAR END IF WE MAKE IT!
holy shit I blew chunks laughing at that one. thanks. great!
Heck that is what I would do, Europe is doubling up.... they increased their stake... they really don't want to see it go under now. I would buy everyone a new car.
Cut the retirement age to 40.
Order of magnitude not ambitious enough. C'mon how often does an opportunity like this present itself? You deserve it!
http://www.welovetheiraqiinformationminister.com/#quotes
Whatever happened to the collateral call from Titlos?
get it, tit loss. no tit, no money
Just GIVE THEM THE MONEY ALREADY...jfc
GREEK PM SAYS WE ASK FOR NO BAILOUT, JUST REASONABLE TERMS ON OUR LOANS
And what about all the people who can't get good rates on their credit cards because they have lost their jobs and have to pay 45% interest or more?
They have a moral obligation to repay all their debts, with their organs if need be.
Only corporations, fatcats, and governments should ever default and only when it maximizes their financial benefit.
Goldman Sachs CEO says US stock prices all wrong. Based on market fundamentals.
Merkel Places Hopes in Lysistrata Initiative
""In a somewhat bizarre move, the Chancellor launched yesterday the so-called "Lysistrata Initiative", named after Aristophanes' eponymous play, which calls on the women of Greece to withhold sexual privileges from their partners until they file their tax returns.
The call comes on the heels of a European Council report showing Germany, along with Finland, trailing far behind France, Italy, Greece and Spain (or the FIGS) in the eurozone rankings for sexual activity.
"German taxpayers cannot be asked to finance the unrestrained lives of the Greeks" said an exasperated Ms Merkel.
A senior German diplomat agreed: "All we're asking the Greeks is to take their strikes to a more constructive level."
Greek women have yet to come forth with an official position on the matter. But sources inside the "Hellenic Association of Female Pensioners Under 40", a representative group, suggest they are not entirely closed to the idea.
Reportedly, a hardline faction within the Association is pushing for a pledge to renounce all sexual pleasures, including The Lioness on The Cheese Grater (a popular sexual position with ancient roots), in the name of fiscal discipline.
[Greek Prime Minister George Papandreou] moved to condemn speculators for planting rumors about a "Greek brain drain", saying that there is "absolutely no evidence" of Greeks moving to Germany to exploit the underutilized sexual landscape.""
It won't work...they like boys over there...it's an old Greek tradition.
Illogical. Like a pinch in the neck from Mr. Spock.
For what it's worth: I got my family to move some of their deposits to non-Greek banks. The fear is not so much of losing access to the deposits, more of the devaluation if the drachma is re-introduced and then bernanke'd.
Tyler:
"G-pap" is a good nickname.
Can you adopt and use "G-pric" for Geithner?
ACME BAILOUTS...CAN WE HELP YOU?:
http://williambanzai7.blogspot.com/2010/04/acme-bailoutscan-we-help-you....
Let's face it, little Geórgios Papandréou is a spoiled socialist fool. He introduced affirmative action into Greece, never had a real job his whole life, ... He might as well have been born in Hawaii (it's hard to imagine him being born in Minnesota). He doesn't understand much of anything except being a socialist/Marxist; for they all know that money and resources grow on trees and the markets are the wrong place to price loans (it should be done by government bureaucrats). In his own twisted mind he believes what he said as he knows nothing else but tired socialist slogans and politically correct silliness. Thus, he would never admit there is slightest contradiction in his statements. His statements are absurd, he is absurd, and his core beliefs are contradicted by reality. He is a child at a time sorely in need of adults.
America is like Greece because:
We cannot inflate our debt away, because the first wiff of inflationary interest rates would destroy the budget. So, we must grow our way out while:
Real estate is in a power dive.
Unemployment is at depression levels.
Savers are insulted and impoverished.
Small business is being crushed.
We have the worst foreign policy since Sherman's march to the sea.
Got it. I can see clearly now... The morning sun is shining like a red, rubber ball.
Oh shit, that's a train!
You and Senator Levin, potty mouths.
GREEK PM SAYS WE ASK FOR NO BAILOUT, JUST REASONABLE TERMS ON OUR LOANS
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
THE JOKE OF THE YEAR !!!!!!!!!!!!! Please give him an OSCAR.
"Reasonable terms" according to G-Pap: you don't have to pay it back.
Hear that China!?
Greece must be destroyed!
And it will be (they may put the day of reckoning off a little).
US, look at Greece and see your fate if you do not act now!
Greece must be destroyed!
And it will be (they may put the day of reckoning off a little).
US, look at Greece and see your fate if you do not act now!
To hell with the US, I live in Greeceafornia !! Fate is knocking down the front door right now.
Sorry, stereo!
I don't know ... can a country just sell itself to another country and every citizen of the country get some cash settlement?
Who'd buy the lazy bums?
We all know markets are efficient, we are all rational, markets always clear on perfect information, and rates always reflect reality.
First off, rates are rates, prices are prices (that is the reality, or it is what it is). Of course markets are not 'efficient' in the theoretical sense of the term, the question is whether they are more efficient than G-Pap's wet dream. Also, of course there is no such thing as "perfect information" in real markets, the question is whether the information is helpful or a hinderance to price setting?
Q) How do you seperate Leo from G-Pap?
A) With a crow-bar.
Hey, he went to Harvard. In other words, where's a damn Yalie when you need one. The real story is "what's a safe haven"? Stop yammerin' and start hammerin'. These opportunities are rolling in like Hugh Hefner and his little bunnies looking for "something new."
"The following is a statement out of EU today.
According to a European Commission spokesman, the 16 countries that use the euro decided not to allow any euro-zone nation to default on its debt, refuting growing speculation that Greece might default"
Source not yet verified.
....maybe they all plan to get rid of the euro. That would solve everything and they'll all be off the hook.
Ok, so what the hell are they supposed to do? They cannot print money so they have to earn enough euros to pay back what they owe. But that's not what they are proposing. They are going to take on MORE debt. I don't give a rats ass if the interest rate was ZERO. They still cannot pay back what's currently owed.
Seriously, this is just getting stupid. Can't anybody do simple F$#$KING MATH anymore?
Bingo.
A=A
But it does leave some wiggle room. My suggestion continues to be to do a forced merger of Greece back into Turkey, which is outside the Eurozone.
.....yeah, that would be a real Ozzie and Harriet marriage !!
In other news, California governor Arnold Schwarzeneggar declares California has seceded from the United States of America, and has applied for membership in the European Union, saying, "We won't be back."
ROFL
Only problem is that Cali-ropa would then be the second largest economy in the bloc, ahead of France but behind Germany. This means:
1. The air behind the lead dog in the sled is not desirable (sauerkraut and beer do not digest into pleasant aromas).
2. And, Cali-ropa would have to pay the freight for all the lazy Mediterraneans.
3. Plus, Bill Gross would take it in the shorts on that one...in the front from the PII_S and in the behind from the Greeks!
......I just had this mind fart picture of a bunch of Mexicans floating along in a gondola in Venice.
Mariachis, singing "Ai...yai...yai-yaiiii..."
So, just to recap, we are going to throw €40, €80, €150, whatever billions at them just so they can stay in the EU and continue to collect more €billions in subsidies. Yeah, sounds good to me. Time to move to Singapore.
Agreed. The germans are supposed to lend them 30,60, 90(?) billion because they can't pay the 30 billion existing (or whatever it is) owed to german banks? Is this an ugly, roundabout way to get the german taxpayers to bailout bad german banker decisions (and blame someone else too)? Having learned from friends and relatives, loaning someone more money than they can sanely produce or handle is a recipe for disaster.
For the germans, this is like being in a bad polygamous marriage. He finds that of the many wives he married and must support, he finds only a few can do the dishes and take care of the kids. All the rest are catfighting, have their period/PMS 29 days a month, are stealing from his wallet, and are shtupping the mailman instead. And he's getting told by his spiritual advisor that divorce is a sin.
I fail to see how Mr P's statement is illogical in a world where the Fed and SEC accept it is Goldman Sachs and the rest of Wall Street can determine for themselves the value of assets on their books without reference to market prices because market conditions are "illiquid".
Mr P is just getting with the programme whereby an asset is worth whatever is convenient to the bankrupt entity to stave off the collapse. Since this policy was innovated in the good ole USA, think of it as an American export.
Would you like some more whine with your cheese?
Since the sun had already set on the long-ago empire of Britain, next up is blackout time. Better load up on gold, cause we're short Sterling.