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There Goes Italy

Tyler Durden's picture





 

To those who bought Italy CDS last week, congratulations. To those who are buying it right now, also congratulations.

 


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Wed, 02/23/2011 - 10:40 | Link to Comment Seasmoke
Seasmoke's picture

AZURE !

Wed, 02/23/2011 - 11:48 | Link to Comment chopper read
chopper read's picture

DARK AGES II!! Sorry, Prime Minister 'Burlesque-crony', the coffers are bare.

Wed, 02/23/2011 - 17:20 | Link to Comment Zero Govt
Zero Govt's picture

the chart' plots 'Burlesque-crony' lifting his average prostitutes age from the usual teenagers due to public pressure

Wed, 02/23/2011 - 17:20 | Link to Comment Zero Govt
Zero Govt's picture

the chart plots 'Burlesque-crony' lifting his average prostitutes age from the usual teenagers due to public pressure

Wed, 02/23/2011 - 21:49 | Link to Comment Buck Johnson
Buck Johnson's picture

You may be right, we might go into a Dark Ages redux.

Wed, 02/23/2011 - 10:41 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

Que bonito es el oro!

L'inflatzione

Wed, 02/23/2011 - 11:17 | Link to Comment txapela
txapela's picture

that's spanish, genius.

Wed, 02/23/2011 - 11:27 | Link to Comment Miramanee
Miramanee's picture

LOL!!!!! I thought it was Urdu.

Wed, 02/23/2011 - 13:31 | Link to Comment Bananamerican
Bananamerican's picture

PIIGS Latin

Wed, 02/23/2011 - 10:41 | Link to Comment Oh regional Indian
Oh regional Indian's picture

Wow. Straight to the heart of the system.
Italy is a TBTF for too many reasons.
Where will they transfer this pain to?

Dominoes!

ORI

http://aadivaahan.wordpress.com/2011/02/23/ihumor-for-un-funny-days/

Wed, 02/23/2011 - 10:43 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

ORI

If you're going to post a link to your blog, please make sure the images you are displaying there show up.

Wed, 02/23/2011 - 10:46 | Link to Comment homersimpson
homersimpson's picture

Better yet - how about you stop spamming your worthless website on a site that is worth something?

Wed, 02/23/2011 - 10:51 | Link to Comment Captain Kink
Captain Kink's picture

+1  I generally like your posts here, but keep the advertisements off, please.

Wed, 02/23/2011 - 10:57 | Link to Comment Oh regional Indian
Oh regional Indian's picture

Added:

just struck me, is it time for Il Papa to take the heat again?

Notice:

1) Vatican Trouble Peaks April 15th 2010

2) Eskkkudjeeelaffyyll is erupting

3) Oil is in the news with Deep Water Horizon

4) Christ Church rocks in Early Spetember 2010, peaking of the Deep Water Horizon Story

5)Vatican story goes completely quiet.

 

Fast forward now:

1) Oil is in the news, explosively

2) ChristChurch rocks again

3) Bulsan Volcano blows

Maybe the Vatican story will "explode" into the news again. soon.

ORI

Wed, 02/23/2011 - 11:05 | Link to Comment jus_lite_reading
jus_lite_reading's picture

ORI- It already has... in Philadelphia!

Wed, 02/23/2011 - 11:54 | Link to Comment Oh regional Indian
Oh regional Indian's picture

Really? Links please?

Thanks.

And to the long timers who think I'm spamming....tch....tch... you post you tube links and other links and pictures that you think are relevant. I think my writing is.

easy enough to pass along, ne? Or are you that  lazy? I give a few regulars a pass because I dis-like their point of view. But I welcome Michael, Gully Foyle, DavidP, who post relevant, even if in a round about way, original or well researched material or links for the most part.

Such a curious reaction.

Also, big, huge hat-tip to ZH and folks here and a few other forums I post on, my blog is well read and responded to.

I see it as an extension, not an intrusion.

Apologies for the image trouble, only in the US, here it is working fine.

ORI

Wed, 02/23/2011 - 13:32 | Link to Comment greenbear
greenbear's picture

Someone has been connecting the dots:

http://www.youtube.com/watch?v=SKRG9P4yWhI

Wed, 02/23/2011 - 10:41 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Is that a gun in your mouth or are you just unhappy to see me?

Wed, 02/23/2011 - 10:52 | Link to Comment Cursive
Cursive's picture

@Cog Diss

Lulz.

Wed, 02/23/2011 - 10:59 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Obviously the person who junked me is an insulted (frustrated?) Mae West fan.

Wed, 02/23/2011 - 11:02 | Link to Comment Cursive
Cursive's picture

Now there's a voluptious blonde. :-)

Wed, 02/23/2011 - 11:14 | Link to Comment sushi
sushi's picture

Had me fooled.

I thought it was K_Daffy in has Minister of the Interior get up.

Wed, 02/23/2011 - 11:36 | Link to Comment flacon
flacon's picture

I can't keep my eyes off that HAT! She's HUGE!

Wed, 02/23/2011 - 11:56 | Link to Comment SCW
SCW's picture

I don't see a hat.

Wed, 02/23/2011 - 12:03 | Link to Comment Rodent Freikorps
Rodent Freikorps's picture

It's on top of the cow.

Wed, 02/23/2011 - 12:11 | Link to Comment LFMayor
LFMayor's picture

Sir, I see you are a neophyte or a disbeliever to the honored traditions of "hoggin".

This fine woman wouldn't even make the semi-finals.

Wed, 02/23/2011 - 21:10 | Link to Comment StychoKiller
StychoKiller's picture

"Too much of a good thing can be wonderful!" -- Mae West

Wed, 02/23/2011 - 10:54 | Link to Comment Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

CD:  Tough crowd lately, and for no good reason. Ah the good ol' days when ZH was a wee little blog and everyone focused their ire on the evildoers in this world where it belonged....

Wed, 02/23/2011 - 11:00 | Link to Comment Cursive
Cursive's picture

@Cindy

Lulz is good. I like CD. You, he and I are ZH oldtimers. Good to see Jim in MN today. Miss deadhead, though.

Wed, 02/23/2011 - 11:47 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

I am lucky enough to have very intermittent email contact with deadhead. He doesn't check his ZH email account very often. He comes around here now and then, but something profound happened to him that led him to essentially abandon posting here on ZH.

He says he lurks often, but who knows what happens to a person who has been severely beaten by the very system he trusted all those years. I tried to channel some of that pain with my "Where have all the ZH Veterans gone...." article but each case is unique.

http://www.zerohedge.com/article/where-have-all-zero-hedge-veterans-gone-long-time-passing

Wed, 02/23/2011 - 11:51 | Link to Comment Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

Ah, come you two, Group Hug(())

 

Yeah, I miss some of the "old timers" I wll read that article CD.

 

Wonder how many of us will be left "standing" virtually in the next few years?

 

Sigh.

Wed, 02/23/2011 - 12:53 | Link to Comment tellsometruth
tellsometruth's picture

I agree with your assertion of truth speaker's fatigue...I did not read the post when it was originally posted, but glad I did now...

"many of man’s problems can easily be rectified by clear thinking, honesty and awareness"


Wed, 02/23/2011 - 10:58 | Link to Comment MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

Would you like to say a few words to mark the occasion?

...i... ann... iinn... ff... nnyin...

removes the gun from his mouth

I can't think of anything.

Wed, 02/23/2011 - 11:02 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

I'm currently working on a Zero Hedge article about Zero Hedge that quotes extensively from the book and movie. Gonna run long but it should be fun.

Warning.....it will ruffle feathers in the community.

Wed, 02/23/2011 - 11:10 | Link to Comment strenue
strenue's picture

You're in a good position to do that (for other sites too).

Wed, 02/23/2011 - 12:00 | Link to Comment Roscoe
Roscoe's picture

CD, I thought your post on what's become of the old posters was excellent, to the point that I'm willing to pay the extra $ to get your next installment in Blu-Ray! Ruffle on Brother.

Wed, 02/23/2011 - 13:19 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

I don't do Blu-Ray, but I do a really mean Billy Ray Valentine. :>)

http://en.wikipedia.org/wiki/Trading_Places

http://www.imdb.com/title/tt0086465/

 

Wed, 02/23/2011 - 10:42 | Link to Comment Jim in MN
Jim in MN's picture

The financial chart version of stepping on a rake.

Wed, 02/23/2011 - 10:48 | Link to Comment papaswamp
papaswamp's picture

Fucking classic! thanks for the laugh

Wed, 02/23/2011 - 14:58 | Link to Comment Kobe Beef
Kobe Beef's picture

annnnd....SMACK!

great image, Jim.

Wed, 02/23/2011 - 10:42 | Link to Comment gmrpeabody
gmrpeabody's picture

Spaghetti bitchez...  ;-)

Wed, 02/23/2011 - 10:51 | Link to Comment monmick
monmick's picture

Underage hookers, bitchez...

Wed, 02/23/2011 - 10:44 | Link to Comment I am a Man I am...
I am a Man I am Forty's picture

i mean, the chart looks good and all, but is 4.81 to 4.86 really that big of a deal??

Wed, 02/23/2011 - 10:51 | Link to Comment dearth vader
dearth vader's picture

Even in penis length it hardly makes a difference.

Wed, 02/23/2011 - 10:53 | Link to Comment The Count
The Count's picture

Just shows you that with the right scale you can make anything look important.

Wed, 02/23/2011 - 10:53 | Link to Comment papaswamp
papaswamp's picture

meh $500,000 for every $1 Bil borrowed difference. But if you are broke, I suspect any increase sucks

Wed, 02/23/2011 - 10:45 | Link to Comment virgilcaine
virgilcaine's picture

 Venice we have liftoff..

Wed, 02/23/2011 - 11:04 | Link to Comment IQ 145
IQ 145's picture

 You caused me to reflect on Venice and some of the other Italian City-States and their history; they have all seen so many government financial plans explode, implode, disintegrate centrifugally,  and vanish into the mist; and all during this time the families and the businesses that held the gold and the silver survived; for many many centuries. And today, in the ultramodern future that is suddenly now; everything is exactly the same.

Wed, 02/23/2011 - 10:44 | Link to Comment Quintus
Quintus's picture

The definitive Eurozone TBTF PIIG is on fire, and yet the Euro continues to gain vs the dollar? 

Wed, 02/23/2011 - 12:26 | Link to Comment dearth vader
dearth vader's picture

Sure, it's a bizarro world, remember...

Wed, 02/23/2011 - 21:17 | Link to Comment StychoKiller
StychoKiller's picture

http://wiki.adultswim.com/xwiki/bin/Sealab+2021/Episode+19

Bizarro indeed! (Yet, Dr. Quinn still manages to get laid!) :>D

Wed, 02/23/2011 - 10:46 | Link to Comment jus_lite_reading
jus_lite_reading's picture

It doesn't take a rocket scientist to know that the EU will very shortly implode. I predicted Italy would crumble last year- my timing was off but the event was correct. This is just the start.

Now what worries me is all the absurd activity the gov'ts are doing these days. Do they know something we don't? Are they preparing for some sort of mass extinction event? I don't believe in all those 2012 Mayan end of the world scenarios but I will say that everything going on for sure is leading up to something.

Wed, 02/23/2011 - 10:54 | Link to Comment dogbreath
dogbreath's picture

And the clown berluisconi and his prostitute drama's keep everyone distracted

Wed, 02/23/2011 - 12:08 | Link to Comment fredquimby
fredquimby's picture

Sir, you were wrong last year, and are going to be wrong this year. Italy has over 3,000 tons of gold reserves. Slightly less than the 8,000 paper tons the USA has.

Do you know how much money Italy has made since October last year? With gold prices up some 20% at least since then?

Also, the EU was built to outlast the dollar. They took 60 years to design and build it. JUST TO OUTLIVE THE DOLLAR. it is not going anywhere IMO.

Google "FOFOA Open letter to the heads of the EMU" to expand your view a bit.

Cheers!

Wed, 02/23/2011 - 12:33 | Link to Comment dearth vader
dearth vader's picture

... I will say that everything going on for sure is leading up to something.

So true! I can't imagine anyone to deny the wisdom of your words.

Wed, 02/23/2011 - 10:48 | Link to Comment baby_BLYTHE
baby_BLYTHE's picture

The Bernanke dollar has BOTTOMED, folks.

QE 2 = BLUFF!

Wed, 02/23/2011 - 10:48 | Link to Comment Turd Ferguson
Turd Ferguson's picture

That's amore!!

Wed, 02/23/2011 - 10:48 | Link to Comment Seasmoke
Seasmoke's picture

buying housing right now is like betting on a horse race, there are many ways to lose and only one way to win

Wed, 02/23/2011 - 10:53 | Link to Comment baby_BLYTHE
baby_BLYTHE's picture

Better hurry up and buy a house quick!

The Recession is over. Rates are moving back up!

Do not wait

Wed, 02/23/2011 - 11:46 | Link to Comment geminiRX
geminiRX's picture

This is exactly what is happening in Canada right now (buying houses quickly). Our finance minister is quivering about our housing bubble and therefore the 35 yr mortgages are ending in March. Stupid realtors up here are brainwashing people to buy in now before it ends. The middle class is going to get so f**ked up here. No-one in Canada learned the lessons people in the US did and now the day approacheth. I'm nauseous just talking about it.

Wed, 02/23/2011 - 14:30 | Link to Comment DosZap
DosZap's picture

Not that I wish ILL on our Canuck Bros, but Karma's a biatch.

All the bad mouthing of the U.S., I told you it was coming to visit your door, and so it is.

Now its you turn to eat shice, force fed of course.

My condolences.When you pay 5x's the real value of something, and reality bites, it bites.

Wed, 02/23/2011 - 11:09 | Link to Comment IQ 145
IQ 145's picture

 Yes, as the officially accredited soothsayers speak; "the risk/reward ratio sucks".

Wed, 02/23/2011 - 11:12 | Link to Comment baby_BLYTHE
baby_BLYTHE's picture

buying a house as "investment" has never been good long-term investment advice.

Homes are for living. "Capital" is for speculating.

Cash is heavenly :)

Wed, 02/23/2011 - 12:47 | Link to Comment dearth vader
dearth vader's picture

Never say 'never'. I made 3000% (no typo) on my house after living 23 years in it. But I'd confess I sold it in 2007, just before the market topped.

Wed, 02/23/2011 - 10:48 | Link to Comment Temporalist
Temporalist's picture

Quick get Berlusconi before he and his underage bitchez run off with the gold!

 

Berlusconi's `Slavish' Courtship of Qaddafi Haunts Italy

http://www.bloomberg.com/news/2011-02-23/berlusconi-s-slavish-courtship-...

Wed, 02/23/2011 - 10:50 | Link to Comment rookie
rookie's picture

all of you smart guys bidding up prices of sovereign cds do realize that you are never going to get paid, right?  just keep adding more risk into the system and hope you are not the last one holding the hot potato.

Wed, 02/23/2011 - 10:56 | Link to Comment Cursive
Cursive's picture

@rookie

Excellent analysis. Not exactly a "rookie" thing to say.

Wed, 02/23/2011 - 11:25 | Link to Comment rookie
rookie's picture

Thanks Cursive.  I am frustrated by the lunacy of it all.  It is astounding to me that the same guys who caused a global sovereign debt crisis can now bet on the default of nations.

Wed, 02/23/2011 - 10:57 | Link to Comment topcallingtroll
topcallingtroll's picture

Hot potatoes are to be passed around when they get too hot. Right now it is merely a warm potatoe.

You say potato I say potatoe!

Wed, 02/23/2011 - 11:10 | Link to Comment taraxias
taraxias's picture

I have no idea what you just said but I read enough of your posts in the past to now know to routinely junk you without reading them.

 

Wed, 02/23/2011 - 11:26 | Link to Comment topcallingtroll
topcallingtroll's picture

Uh.....to simplify you can hold the cds a little longer before you pass it along. It is not yet hot enough to burn you.

Wed, 02/23/2011 - 10:51 | Link to Comment John McCloy
John McCloy's picture

300k refugees floodin into Italy. Great for job growth?

Wed, 02/23/2011 - 11:03 | Link to Comment Temporalist
Temporalist's picture

Ci va il quartiere.

Wed, 02/23/2011 - 11:11 | Link to Comment IQ 145
IQ 145's picture

 Oy Vey ! another LOL

Wed, 02/23/2011 - 10:54 | Link to Comment topcallingtroll
topcallingtroll's picture

Yep it still wasnt.too late to play yesterday.

Thanks TD for the heads up.

The debauched speculative classes are appreciative.

Wed, 02/23/2011 - 10:55 | Link to Comment youngman
youngman's picture

When the CDS in the sky..... hits you like Pizza Pie....thats amore........

Wed, 02/23/2011 - 10:58 | Link to Comment QQQBall
QQQBall's picture

Look for Ireland and Portugal to step up their purchases of Italian debt

 

sarcasm off/

Wed, 02/23/2011 - 11:12 | Link to Comment taraxias
taraxias's picture

Why would Ireland and Portugal need to get involved when Greece is buying them all.

Wed, 02/23/2011 - 10:57 | Link to Comment Josh Randall
Josh Randall's picture

The Leaning Tower is going to collapse

Wed, 02/23/2011 - 11:00 | Link to Comment Ham Wallet
Ham Wallet's picture

I hope this doesn't effect the upcoming Jersey Shore season that will be shot over there.

Wed, 02/23/2011 - 11:01 | Link to Comment entendance
Wed, 02/23/2011 - 11:06 | Link to Comment FoieGras
FoieGras's picture

There goes italy? According to the chart the CDS is up 1%. Italian bond futures are down a mere 0.28%. Make that +0.5% wider vs. GBL.

I would understand the excitement if the CDS were up 20% or bonds were down 5%.

Wed, 02/23/2011 - 11:10 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The European President's Working Group on Financial Markets would like to thank you for your comment with a free gelato on your departure.

Wed, 02/23/2011 - 11:15 | Link to Comment IQ 145
IQ 145's picture

 Understood. For this, you have to come back for "There goes Italy, II", which will be out about September. This one is just to get the audience warmed up.

Wed, 02/23/2011 - 11:25 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Warmed up!  Ha!  Ok, so oil prices are at the point where no one can afford the lifestyles they bought into, but we are waiting for September?  AHAHAHA!  Hilarious.  You are hilarious!

Wed, 02/23/2011 - 11:06 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

This is dollar bullish, right?

Bhahahahahaha!

Wed, 02/23/2011 - 11:22 | Link to Comment topcallingtroll
topcallingtroll's picture

Actually probably.yes in a small way!

Wed, 02/23/2011 - 11:30 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Poor dollar has been debased for 100 years and people still have hope for it.

Everybody knows where you go when the sun goes down.

I think you only live to see the lights of town.

I wasted my time when I would try, try, try.

When the lights have lost their glow, you're gonna cry, cry, cry.

Wed, 02/23/2011 - 11:09 | Link to Comment philgramm
philgramm's picture

I love ZH.  Having said that, is ZH going to engage in the same hyperbole as CNBS/Bloomberg crowd? I understand that this is not good for Italy.  But to headline it as "There goes Italy" is a bit overkill.  Just my humble opinion.  

Wed, 02/23/2011 - 11:15 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

When Mexico erupts into full civil war, I hope Americans can be so nonchalant in understanding the consequences of, you know, civil war.

"Hey Honey, Mexico is having a civil war."

"Did we get tickets?"

Wed, 02/23/2011 - 11:24 | Link to Comment Rodent Freikorps
Rodent Freikorps's picture

You mean they are not already?

Wed, 02/23/2011 - 11:33 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

If it ain't on TV, it ain't real.  Hit me!

Wed, 02/23/2011 - 13:19 | Link to Comment Hook Line and S...
Hook Line and Sphincter's picture

I'm in Mex all the time. In my haunt, Tijuana of late is especially explosive. The army now tells the citizens NOT to call the police, but to call them instead. The Federales and local police (who have had their guns temporarily 'checked') are running scared. Drug cartel rules the roost and has penetrated many levels of upper police force. You can see the cops grouping in patrol cars 3 or more (with 2 officers in each vehicle) throughout the town. The street beat traffic cops seem to be left alone as they don't have as much fear plastered across their faces.

Wed, 02/23/2011 - 13:44 | Link to Comment Bananamerican
Bananamerican's picture

fuck mexico

Wed, 02/23/2011 - 11:32 | Link to Comment philgramm
philgramm's picture

@Mr.LH,  I agree that the Libyan revolution is a big deal for the Italians as they get a bulk of their oil from Libya.  I was just arguing against the use of hyperbole in the headline.  I mean 4.81% to 4.86% does not warrant a "there goes italy".  Again this is just my opinion.  I have appreciated reading your posts here and ultimately we are on the same side:-). 

Wed, 02/23/2011 - 11:45 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

That move (50 bps) is identical to the rate move China has done three times in the past several months, ahead of a Fed rate hike, which mind you has never happened before now.  And the Italian bonds moved in a flash like the rate was manipulated.  The question is, how many more credits (dollars/Euros) must the financiers of the economic system shovel into the gaping black hole in order to keep the system together?

Finance is thundering down the mountain like an avalanche.  It cracked long ago, but it is almost upon the middle classes of the world.  Can you here it?

Wed, 02/23/2011 - 13:05 | Link to Comment jmc8888
jmc8888's picture

The best way to look at it imo, is to picture two black holes.

One of debt and derivatives obligations, the other was created by printing to pay it off.  If somehow we can just get both black holes at exactly the same size to cancel each other out....it still probably wouldn't work. (and good luck being able to time that)

Even then that's not the game since they don't want to get rid of all these things that created the situation, they are just trying to decouple from it's effects.

But since the real world isn't fake dueling black holes, what do we see? We see all the debt, all debt obligations, as unpayble, and it's crushing us. (we can glass-steagall it of course). They are printing like mad to fill it in and it appears they have done that. The derivatives have temporarily stopped going down. It only took how many trillions in printing, backstopping, worthless shit?

When the free money stops however...the black hole that is currently munching on the excess will get hungry for new stuff again. Because it's inherent in the system.  It is in its design.  If it isn't being fed, it's crashing. Now that it will have to be bigger than ever and need more money than ever to continue growing the beast, it has already surpassed by far our ability to outpace it, and we don't have any head start unlike when we started these idiot ideas. There is no way that those derivatives can keep growing much further.  The only chance they had to kick it down the road was carbon credits, and thank god that is DOA.  There is no way they can engineer enough inflation to feed the beast, without destroying everything else.

No one is trying to change that in the status quo. Every time they print, you see the results.  We've already unleashed an amount of money that will cause some sort of hyperinflation. The more money that goes out there, the higher the ceiling.  But again, if the money isn't flowing into the derivatives and keeping it growing, then it will crash again.  Which of course would lead to printing, which leads to more hypeinflation, etc.

We can't print it off, because it would mean instant hyperinflation that not even Weimar saw. (imagine printing off the money to pay off all the derivatives). As soon as you did that, they'd create more.

There's no way out except for undercutting the whole thing through Glass-Steagall by calling the worthless nothings, indeed what they are, nothing.

This game must stop.  The derivatives, the mbs/cmbs, and all the scams must be wiped away, if we are to have a functional economy, with like markets.  Glass-Steagall is the legal standard of what is, a legal tool to wipe away what isn't, and also our front line of protection by being the firewall.

Why anyone would choose the print or austerity button given this is so asinine, it make Barack Obama, Gov's Walker and Christie not only look like idiots, but also look like the fascists they are by putting our throats needlessly under their ivory tower knife.

 

Wed, 02/23/2011 - 13:55 | Link to Comment Bananamerican
Bananamerican's picture


CHICAGO POEM
by Lew Welch

excerpt:

All things considered, it’s a gentle and undemanding
planet, even here. Far gentler
Here than any of a dozen other places. The trouble is
always and only with what we build on top of it.

There’s nobody else to blame. You can’t fix it and you
can’t make it go away. It does no good appealing
To some ill-invented Thunderer
Brooding over some unimaginable crag.

It’s ours. Right down to the last small hinge it
all depends for its existence
Only and utterly upon our sufferance.

Driving back I saw Chicago rising in its gases and I
knew again that never will the
Man be made to stand against this pitiless, unparallel
monstrosity. It
Snuffles on the beach of its Great Lake like a
blind, red, rhinoceros.
It’s already running us down.

You can’t fix it. You can’t make it go away.
I don’t know what you’re going to do about it.
But I know what I’m going to do about it. I’m just
going to walk away from it. Maybe
A small part of it will die if I’m not aroundfeeding it anymore.

Wed, 02/23/2011 - 11:16 | Link to Comment virgilcaine
virgilcaine's picture

Who will Burlosconi swap teenage pros with now?  The peasants have gone and spoiled a good thing for the dictator class. Dollars for Oil for pros swap/carry trade.

Wed, 02/23/2011 - 11:16 | Link to Comment IQ 145
IQ 145's picture

Qaddafi, of course. Soon they'll both be living in Maui.

Wed, 02/23/2011 - 11:18 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Ukraine.

Wed, 02/23/2011 - 11:16 | Link to Comment GerritB
GerritB's picture

HIT THE SELL BUTTON!!!

[SELL]

[SELL]

.....

CRASH

Wed, 02/23/2011 - 11:35 | Link to Comment Zero Debt
Wed, 02/23/2011 - 11:34 | Link to Comment philgramm
philgramm's picture

anybody noticing the move in gold and silver in the last 20min? FUBM!!!!

Wed, 02/23/2011 - 11:50 | Link to Comment Bam_Man
Bam_Man's picture

Madonna! Basta cosi!

Wed, 02/23/2011 - 12:41 | Link to Comment SilverBaron
SilverBaron's picture

I remember reading (around the turn of the century) that the catholic church was the largest holder of silver.  Could TPTB be trying to shake some out of the Vatican?

Wed, 02/23/2011 - 12:48 | Link to Comment luigi
luigi's picture

You will hear these two words quite often dealing with Italians in the next days:"oh, cazzo!"

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