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Interesting Times in the Netherlands - With Update

undertheradar's picture





 

Update:

 

According to VEH, the Home Owners Association, the Government had already reserved extra money to keep the stamp tax at the low 2%, while it was officially set to return to 6 percent in July. So these plans are now up in the air. It will be very interesting to see how the housing problem plays out this week as part of the budget talks. But obviously, the government was going to introduce savage cuts elsewhere to pay for this seeing growth estimates have been lowered again. It will be very interesting to see what politicians and voters will find important. I will be posting the latest opinion polls soon. As I have said, the housing market is continuing to suck up more and more potential taxes and subsidies at an accelerating rate. It is also not hard to guess what the banks consider their short term interest on this question. I salute you.

 

These are interesting times in the Netherlands. I'm glad things are shaking up personally. Things have been going nowhere fast, with no indications from the elites of any real solutions to the euro crisis. Dutch politicians generally say they'd still like to send a budget to Brussels by the end of the month, and hold elections.

An interesting article on nu.nl states that Olivier Blanchard of the IMF demands Germany accept eurobonds now that all countries have accepted a budget treaty. Not sure how I should interpret this, it comes out of the blue. In our situation of course, it adds pressure to present a budget as planned. What the Germans or anyone else thinks about this?

A good article on z24 shows the required Dutch bond sales for this year and you may be able to interpret it:

http://www.z24.nl/economie/artikel_345157.z24/Rente_Nederland_stijgt__br...

If not, I will answer questions.

As we know the markets are nervous this morning. The Dutch 10 year has crept up 10 basis points. I won't say much about the AEX, it will likely be a bit more fickle, but it was down 2.48% at one point.

Pension associations are not thanking Wilders for repeatedly stating his objection to cuts in public pensions in defending his move to walk in his moment with the press on Saturday. One association representative does say however they are ready for elections and that there have already been many cuts since this Cabinet took office.

Wilders stated that the 3 percent deficit target was not mandatory and seeing the slumping economy and rising unemployment he would have accepted 3.5 or 4 percent.

It is time to be patient and wait for events to play out this week. More news soon.

 


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Thu, 04/26/2012 - 00:31 | Link to Comment undertheradar
undertheradar's picture

Excellent indeed!

Mon, 04/23/2012 - 16:15 | Link to Comment undertheradar
undertheradar's picture

Yves posts the numbers I didn't even consult for this post, in her usual thorough all over the place kind of way, hope its the right link:

Bank Credit Default SwapsBanksCredit Default SwapsBank of America 262,28BARCLAYS Bank 196,79Banco Santander 416,87Banco Populare578,28BNP Paribas 260,43Reference Germany66,15Citigroup 234,75Commerzbank 249,62Crédit Agricole 312,46Credit Suisse 169,91Deutsche Bank 181,01DZ BANK 127,43Erste Group Bank 271,06Goldman Sachs 273,82HSBC Trinkaus 141,24HSH Nordbank 242,27HypoVereinsbank/UniCredit Bank AG 296,53ING-Bank 226,33J.P. Morgan 105,47LBBW 175,93Macquarie Bank Ltd. 243,32Morgan Stanley 364,80NATIXIS 239,69Nomura Bank International 313,72Norddeutsche Landesbank 190,05Rabobank 144,51RBS N.V. (ehemals ABN AMRO Bank N.V.) 243,72Royal Bank of Scotland plc 292,48Société Générale 336,75UBS Investment Bank 186,08.

Oops. Try again:

 

http://static0.volkskrant.nl/static/asset/2012/doorrekeningcpb_162.pdf

 

And here is her post:

http://www.nakedcapitalism.com/2012/04/europes-lunatics-rise.html

That is delusional economics, sorry.

Mon, 04/23/2012 - 12:24 | Link to Comment Dick Darlington
Dick Darlington's picture

An interesting article on nu.nl states that Olivier Blanchard of the IMF demands Germany accept eurobonds now that all countries have accepted a budget treaty.

Seriously, who this guy thinks he is? It's NOT IMF's role to decide this kind of things. I just used to get head aches when hearing something the IMF vomits out but nowdays i feel like vomiting myself.

Mon, 04/23/2012 - 09:30 | Link to Comment Sandmann
Sandmann's picture

Olivier Blanchard of the IMF demands

It will take more than two decades to return to prudent levels of debt.  There is a proverb that actually applies here too: “slow and steady wins the race.”

Is all hope lost? No, but putting the recovery back on track will be harder than it was a year ago. It will take credible but realistic fiscal consolidation plans. It will take liquidity provision to avoid multiple equilibria. It will take plans that are not only announced, but implemented. And it will take much more effective collaboration among all involved.

I am hopeful it will happen. The alternative is just too unattractive.

http://blog-imfdirect.imf.org/2011/12/21/2011-in-review-four-hard-truths/

Somehow I don't think he knows what is going on but being French he reminds me of May 1940 when the French PM Paul Reynaud urged Churchill (who agreed) to commit the entire RAF Reserve to the Battle of France - until Dowding opposed Churchill. It was more important to France to take Britain down with it than to face up to their own basic inadequacy over the previous 6 years

French and British fighters claim a total of 85 victories, but French indecision means that  bombers of the Armee de l'Air (French Air Force) are not committed to action

http://www.raf.mod.uk/history/rafhistorytimeline1940.cfm 

 

There is noone the French won's sacrifice to cover their own inadequacies and Germany knows it.

Mon, 04/23/2012 - 10:04 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Perhaps you've read Baudelaire?

Mon, 04/23/2012 - 10:22 | Link to Comment undertheradar
undertheradar's picture

A bit of Celine, does that count?

Mon, 04/23/2012 - 11:25 | Link to Comment theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture

Celine is the greatest there ever was

Mon, 04/23/2012 - 11:25 | Link to Comment ironsky
ironsky's picture

Europe as the Enthusiast?

Mon, 04/23/2012 - 13:39 | Link to Comment Sudden Debt
Sudden Debt's picture

We'll always have beer...

Mon, 04/23/2012 - 11:06 | Link to Comment Treason Season
Treason Season's picture

"Thank God for the rich or none of us would have money!"

Celine's mother in "Mort a credit"

Mon, 04/23/2012 - 08:46 | Link to Comment i-dog
i-dog's picture

 

"Wilders stated that the 3 percent deficit target was not mandatory"

See?! ... Greece was right!!

Obomber doesn't even have a budget and he'll get re-elected ... so, why should EU countries bother with targets?!

Mon, 04/23/2012 - 08:49 | Link to Comment falak pema
falak pema's picture

a fiat currency target in a fiat Madoff currency market is like aiming at the cow on the moon! 

I'll bet my sixpence that the cow will jump the moon fence, soon!

Mon, 04/23/2012 - 08:26 | Link to Comment undertheradar
undertheradar's picture

Thanks for the comments, out for a bit.

Mon, 04/23/2012 - 08:40 | Link to Comment Treason Season
Treason Season's picture

Weird AEX chart. Bouncing back and forth from -2.5 ish to -4.2ish

http://finance.yahoo.com/intlindices?e=europe

Mon, 04/23/2012 - 08:17 | Link to Comment Gunther
Gunther's picture

In Germany the politicians want europe against the limits set by the constitutional court (Bundesverfassungsgericht.)
The people see that at home money is missing everywhere and are very unhappy.
the Bundesbank seems to have respect for the constitution and opposes the government.
Harvey Organ has a piece from the Telegraph in his last blog, scroll down to:
George Soros and the Bundesbank’s Patriotic Putsch ... Coming to a head
http://harveyorgan.blogspot.ca/

Mon, 04/23/2012 - 08:15 | Link to Comment Sudden Debt
Sudden Debt's picture

Undertheradar, may  I POINT OUT TO YOU THAT THE MAP YOU USED INCLUDES THE MIGHTY KINGDOM OF BELGIUM?!?!

we haven't invaded them yet, so no need to use the new map. 

Mon, 04/23/2012 - 09:44 | Link to Comment undertheradar
undertheradar's picture

I didn't add politics to my interests, but obviously I'm a liar ;)

Mon, 04/23/2012 - 08:27 | Link to Comment Treason Season
Treason Season's picture

S.D. There's enough can kicking going on without opening up THAT can of worms.!

Mon, 04/23/2012 - 08:14 | Link to Comment falak pema
falak pema's picture

right wing neo-tribal knee jerks and jingoistic, Oligarchy monetary scam tornado warning make an awesome combination for an ageing continent that is fast losing its moral/ethical compass. 

We are now in a situation where the people can't see beyond the end of their own noses and populist machiavellis who play on this sentiment. Renaissance age and populist rage; we need a new Luther and a new Erasmus! A new de Vinci and a new Galileo. 

A new beginning as an old paradigm comes apart at the seams. Play on Sisyphus, the Catholic church of Pax Americana and "free" oligopoly markets is in deep trouble. 

Mon, 04/23/2012 - 12:01 | Link to Comment Gordon Freeman
Gordon Freeman's picture

It must be the "savage" cuts the author alludes to...LOL!

Mon, 04/23/2012 - 08:11 | Link to Comment Hot Shakedown
Hot Shakedown's picture

In my view, the 'explosives' theory is what the Poweres that Be would like all the skeptics to think. I started going down the rabbit hole after Princess Di's death. In the many years of looking at differing views on how the towers came down, I have gone from the "nano-thermite" explosive theory to my current Direct Energy Wave (DEW) theory. The explosive theory makes sense, but the character/nature of the "fallout" does not add up . In brief, everything turned to dust. The DEW theory involves some understanding of how the Weather is harnessed as well as an understandind of what goes on in places like Sandia Labs in NM. Hurricane Erin was a massive cat 4 just off NYC on 9/11. The DEW theory is perhaps the only theory that is never heard of and it appears that the PTB is going to great lengths to steer people into the "explosives" theory- which is the 'acceptable' disinformation plan du jor. Google the DEW theory while you can.

Wed, 04/25/2012 - 01:13 | Link to Comment matrix2012
matrix2012's picture

@Hot Shakedown,

please go further to name few sites or articles that best cover the DIRECT ENERGY WAVE (DEW) theory. Thanks. 

 

~~~~~~~~~~~~~~~~~~~~~~~

Meanwhile a quick search on "Direct Energy Wave Weather harness" at startpage.com returned few possibly good read:

 

** In 2005 Global Research already ran a story on this issue... read it here.


- Volume III - Scalar Weapons: Read it and Weep   and   Twelve Things You Should Know About Scalar Weapons ~~ both links by Christi Verismo

Directed Energy Weapons 101 – Infrasonic, Sonic, Microwave, and Laser

 

Torture using Directed Energy and Neurological Weapons (Scribd)

Christi Verismo Homepage (Author)

 

Mon, 04/23/2012 - 13:23 | Link to Comment LowProfile
LowProfile's picture

First, it's "therMATE", not "therMITE".

Second, Occam's razor says you're wrong.

Professional engineer Jon Cole cuts steel columns with thermate, debunks Nat Geo & unexpectedly repr, page 1

Mon, 04/23/2012 - 13:54 | Link to Comment WAMO556
WAMO556's picture

Sorry buddy:

1. Thermite - Thermite is a pyrotechnic composition of a metal powder (Silicon Oxide) and a metal oxide (Red Iron Oxide) that produces an exothermic oxidation-reduction reaction known as a thermite reaction.

2. Thermate - SAME PROCESS, JUST DIFFERENT FILLERS - Thermate is a variation of thermite and is an incendiary pyrotechnic composition that can generate short bursts of very high temperatures focused on a small area for a short period of time. It is used primarily in incendiary grenades.

Because thermate burns at higher temperatures than ordinary thermite, it has useful military applications in cutting through tank armor or other hardened military vehicles or bunkers. As with thermite, thermate's ability to burn without an external supply of oxygen renders it useful for underwater incendiary devices. We could go into the history and chemistry of understanding how this works, but mixing simple and complex sometimes leads to inadequate answhere, hence chaos.

Occams Razzor is a philosophical understanding of how things MAY work.

Chemistry is about a practical understanding of things REALLY work.

just saying!

Mon, 04/23/2012 - 11:47 | Link to Comment stacking12321
stacking12321's picture

looks like the PTB have given you 4 down arrows already, they must *really* not want people to know about the DEW theory!

Wed, 04/25/2012 - 23:10 | Link to Comment undertheradar
undertheradar's picture

I take it these things as a compliment. I didn't realise what I was responding to, but thanks for an engaging debate on a topic I know little about.

Mon, 04/23/2012 - 07:58 | Link to Comment debtor of last ...
debtor of last resort's picture

When Moody's can't push things over the edge, French and Dutch gubmints will.

Let's cut the crap and go to small local economies based on respect.

Mon, 04/23/2012 - 11:38 | Link to Comment mick_richfield
mick_richfield's picture

Respect and a half-ounce of silver will get you two dozen duck eggs in my small local economy.

Mon, 04/23/2012 - 13:20 | Link to Comment LowProfile
LowProfile's picture

At $7.25 a dozen those eggs better cook themselves.

Mon, 04/23/2012 - 08:00 | Link to Comment Sudden Debt
Sudden Debt's picture

PUT YOUR FINGER IN THAT DIKE JANTJE!!

 

and wake me up when global warming catches up to those guys...

Mon, 04/23/2012 - 08:55 | Link to Comment i-dog
i-dog's picture

According to Al Gore, ships should be docking in Eindhoven by now! Are there submarine tours of Rotterdam already? (I haven't been there in a few years).

Mon, 04/23/2012 - 07:57 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

'An interesting article on nu.nl states that Olivier Blanchard of the IMF demands Germany accept eurobonds now that all countries have accepted a budget treaty. Not sure how I should interpret this, it comes out of the blue. In our situation of course, it adds pressure to present a budget as planned. What the Germans or anyone else thinks about this?'

What do I think?! It's another step in having the IMF remake Europe in its own image. Do I really need to elaborate farther than that? A common Treasury to silence the 'bond vigilantes' is just beyond insane. What you have is a targeted attack now, that will soon be a looting spree. Nothing short of an new Bretton Woods can save this decrepit old continent. Too long have we been cutting deals with the Devil.

Mon, 04/23/2012 - 07:47 | Link to Comment bank guy in Brussels
bank guy in Brussels's picture

Maybe this is the perspective from the Netherlands that is needed in these times -

Great hip music from Dutch DJ Kicken, 'There ain't no party like an alcoholic party!'

No there ain't, indeed

http://www.youtube.com/watch?v=cUxWZxD3MPw

Thu, 04/26/2012 - 00:32 | Link to Comment undertheradar
undertheradar's picture

Meant to reply to this post. Excellent, thank you.

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