"Citi's Willem Buiter is out with a big call on Spain, and how things are going to get much worse, and how ultimately the country will need outside assistance in some way. Given that Spain is much bigger than Greece, this is a very big deal."
"One key element of his call relates to real estate, and his belief that the collapse in that market is not done. In fact, he doesn't even think it's close."
Spain has been in an alternate realty for 20 years or so. All the British and German baby boomers subsidized housing there to retire in the sun; basically it's their Florida; (see the Groucho Marx experience with buying Florida Real Estate in the '20s). It's not too difficult to figure out that it's "crash ready", as a parallel to Obummer's "shovel ready". The process has been slowed down by the vomiting up of meaningless credit waffles by the baffled economic experts at the Euro Bank, but like a magnet dropped thru a copper pipe, it will fall. The numbers for Spain make hilarious reading. Mozillo is Spanish.
It's gonna be unpleasant for the user. But that's alright. It reminds me of a joke from a Mexican humor magazine, "The National Revolver"; you hold it out at arms length in the usual way, but the barrel points towards you.
Tuesday - yes, it was Tuesday When I saw my congressman coming out of the titty bar He didn't look like my congressman, but that's okay Nobody really looks like themselves anymore I think its got something to do with that crap They've been pouring into the water I decided it might be wise to follow the congressman Just to see what he was up to. After all, my tax dollars do pay his salary. The congressman got into a taxi, so I hailed a taxi Despite the obvious dangers involved And the coloured voices in my head began to sing:
All I gotta do is put my ear to the wall And I can hear it all, yes I can hear it all All I gotta do is put my ear to the wall And I can even hear the little insects crawl
The congressman was in taxi number 23 And I was in cab 17 But numbers are meaningless in this kind of cat and squid game My driver was an Aries And he laughed when I said "Follow that cab!" And he kept laughing until he saw the cold blue steel of Little Elvis "Keep your god-damn hands off that radio!" I warned him "I work for the government!" This is actually a half truth I'm really a bike courier But I make a lot of deliveries to government offices. That's where I heard about the cheese. And the coloured voices in my head kept singing:
All I gotta do is put my ear to the wall And I can hear it all, yes I can hear it all All I gotta do is put my ear to the wall And I can even hear the little insects crawl
There's this super secret government program called "Operation the cheese stands alone" It's the congressmen's pet project They claim that they're giving surplus cheese to the needy I, of course, have my suspicions After 15 very quiet minutes The congressman's cab pulled up outside a warehouse I had the Aries circle around the building and drop me off. He seemed to be grasping the importance of my mission Since he said I didn't have to pay him. As long as I promised to stay very far away from him and his taxi. I swear, some people just don't want to get involved.
All I gotta do is put my ear to the wall And I can hear it all, yes I can hear it all All I gotta do is put my ear to the wall And I can even hear the little insects crawl
So I walked into that cold dark place Little Elvis drawn and ready for action I too was ready - Ready for the moment when I would be a real American
All I gotta do is bang my head on the wall And I can have it all, yes I can have it all All I gotta do is bang my head on the wall And I can even make the little insects crawl
I used to think it was a good sign, that I could still laugh about it all. Now, I'm just gratefull that I can stop.
Pure genius!
Funny stuff WB, would that be an ECB economic Panzerfaust?
Hey, I'm in Suzhou this month, you still in HK?
The Spanish Housing Crises is only in the 3rd inning. It probably has 40% to 60% yet to fall...not such a good sign:
http://www.businessinsider.com/chart-of-the-day-spanish-housing-index-20...
"Citi's Willem Buiter is out with a big call on Spain, and how things are going to get much worse, and how ultimately the country will need outside assistance in some way. Given that Spain is much bigger than Greece, this is a very big deal."
"One key element of his call relates to real estate, and his belief that the collapse in that market is not done. In fact, he doesn't even think it's close."
How do you say, "Mozillo" in Spanish?
Spain has been in an alternate realty for 20 years or so. All the British and German baby boomers subsidized housing there to retire in the sun; basically it's their Florida; (see the Groucho Marx experience with buying Florida Real Estate in the '20s). It's not too difficult to figure out that it's "crash ready", as a parallel to Obummer's "shovel ready". The process has been slowed down by the vomiting up of meaningless credit waffles by the baffled economic experts at the Euro Bank, but like a magnet dropped thru a copper pipe, it will fall. The numbers for Spain make hilarious reading. Mozillo is Spanish.
It's gonna be unpleasant for the user. But that's alright. It reminds me of a joke from a Mexican humor magazine, "The National Revolver"; you hold it out at arms length in the usual way, but the barrel points towards you.
You mis-spelled Debtonator.
Is there an incendiary round that monetizes bad paper?
Geeen yoooos!
.........she pointed two bazooookas at me...and she was also holding a RPG...
Jewish teacher molests 23 students
UK joo queen accused of drug trafficking
Jewish DA stopped police from arresting Zimmerman
Oy Vey! Four shot dead at French Jewish schoolThe Euro Bazooka in action will either perform like this French Missile:
(Note, watch from the 15 second mark)
https://www.youtube.com/watch?v=HHn2P7x9hXY&feature=fvst
Or, like pretty much everything on this compilation.
https://www.youtube.com/watch?v=VEXNJZK26mo&feature=related
Fuck me William - I laughed and laughed as a former Infantry type person many moons ago. Pure gold.
Nit - two rear sights?
Two rear sights ass backwards ;-)
weaponized gibberish
top notch
This is especially good, because this is what they actuallly produce on a daily basis, brain-washing lotion. ie. weaponized gibberish.
I liked that too; and we have to remember, laughter is the best medicine. I know, because Readers' Digest told me so.
The Dead Milkmen's - Peter Bazooka -
Tuesday - yes, it was Tuesday
When I saw my congressman coming out of the titty bar
He didn't look like my congressman, but that's okay
Nobody really looks like themselves anymore
I think its got something to do with that crap
They've been pouring into the water
I decided it might be wise to follow the congressman
Just to see what he was up to.
After all, my tax dollars do pay his salary.
The congressman got into a taxi, so I hailed a taxi
Despite the obvious dangers involved
And the coloured voices in my head began to sing:
All I gotta do is put my ear to the wall
And I can hear it all, yes I can hear it all
All I gotta do is put my ear to the wall
And I can even hear the little insects crawl
The congressman was in taxi number 23
And I was in cab 17
But numbers are meaningless in this kind of cat and squid game
My driver was an Aries
And he laughed when I said "Follow that cab!"
And he kept laughing until he saw the cold blue steel of Little Elvis
"Keep your god-damn hands off that radio!" I warned him
"I work for the government!"
This is actually a half truth
I'm really a bike courier
But I make a lot of deliveries to government offices.
That's where I heard about the cheese.
And the coloured voices in my head kept singing:
All I gotta do is put my ear to the wall
And I can hear it all, yes I can hear it all
All I gotta do is put my ear to the wall
And I can even hear the little insects crawl
There's this super secret government program called
"Operation the cheese stands alone"
It's the congressmen's pet project
They claim that they're giving surplus cheese to the needy
I, of course, have my suspicions
After 15 very quiet minutes
The congressman's cab pulled up outside a warehouse
I had the Aries circle around the building and drop me off.
He seemed to be grasping the importance of my mission
Since he said I didn't have to pay him.
As long as I promised to stay very far away from him and his taxi.
I swear, some people just don't want to get involved.
All I gotta do is put my ear to the wall
And I can hear it all, yes I can hear it all
All I gotta do is put my ear to the wall
And I can even hear the little insects crawl
So I walked into that cold dark place
Little Elvis drawn and ready for action
I too was ready -
Ready for the moment when I would be a real American
All I gotta do is bang my head on the wall
And I can have it all, yes I can have it all
All I gotta do is bang my head on the wall
And I can even make the little insects crawl