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Holland: "An Economy On The Brink"

Tyler Durden's picture


Infamous for little boys plugging holes with their fingers and grown-ups plugging their mouth with their foot (D-Boom), it seems Holland, Berlin's most important ally in the goal of greater fiscal discipline in Europe, has fallen into an economic crisis itself. As Spiegel reports, the once exemplary economy is suffering from huge debts and a burst real estate bubble, which has stalled growth and endangered jobs.

The statistics make for some worrisome reading: no nation in the euro zone is as deeply in debt as the Netherlands, where banks have a total of about €650 billion in mortgage loans on their books; consumer debt amounts to about 250% of available income - by comparison, in 2011 even the Spaniards only reached a debt ratio of 125%; unemployment is on the rise; consumption is down; and growth has come to a standstill.

The trouble for Holland is that despite their proclamations of the need for Fiscal conservatism, even EUR46 billion in austerity measures are apparently not enough to keep the nation's deficit within the EU debt limit. The Dutch were long among Europe's most diligent savers, and in the crisis many are holding onto their money even more tightly, which is also toxic to the economy, as "one of the main problems is declining consumption."

The nationalization on SNS in February brought this reality home and as Spiegel reports, "there is no end to the crisis in sight."



Source: Spiegel


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Tue, 04/02/2013 - 12:50 | 3399989 Freddie
Freddie's picture

Note to Holland - deport the Muslims.

Tue, 04/02/2013 - 12:55 | 3400001 Individualist A...
Individualist Anarchist's picture

Note to Holland - open the borders

Tue, 04/02/2013 - 13:05 | 3400036 kridkrid
kridkrid's picture

note to Holland - credit money loaned into existence with interest attached will end badly.  Deal with that before you worry about immigration/deportation/ANYTHING ELSE.

Tue, 04/02/2013 - 13:06 | 3400055 Ahmeexnal
Ahmeexnal's picture

Dump the euro. Send a thank you note to Swinehella Merdekel that reads "ROT OP KANKER ROTMOF". Reinstate gulden. Rocket to prosperity.

Tue, 04/02/2013 - 13:11 | 3400069 IamtheREALmario
IamtheREALmario's picture

Note to the Dutch people. Attack and destroy Switzerland.

Tue, 04/02/2013 - 13:18 | 3400090 Ethics Gradient
Ethics Gradient's picture

With a variation on the molotov cocktail?

The Dutch like a diesel-BOOM.

Tue, 04/02/2013 - 13:20 | 3400097 thisandthat
thisandthat's picture

Just don't add soap, or it might stick like napalm (there, said it!)...

Tue, 04/02/2013 - 13:22 | 3400109 Atlas_shrugging
Atlas_shrugging's picture

The Dutch are very tall. That makes them smart. They will figure it out.

Tue, 04/02/2013 - 13:32 | 3400141 thisandthat
thisandthat's picture

Yes, they can see further into the future than the rest of us - and since no one  understands what they say, they can warn each other ahead of harm. Damn them, I think I'll trip them up, next time I see one of them, just for the lulz...

Tue, 04/02/2013 - 14:52 | 3400443 justinius1969
Tue, 04/02/2013 - 15:40 | 3400622 Pegasus Muse
Pegasus Muse's picture

Hope Dutch depositors have been paying attention to Cyprus.  Bankster/Government thievery of Depositor's Assets might become a pan-european epidemic.

Tue, 04/02/2013 - 16:24 | 3400803 negative rates
negative rates's picture

It's not bad here, I'm tellin ya, it's really not that bad.

Tue, 04/02/2013 - 13:42 | 3400180 FeralSerf
FeralSerf's picture

It's more important, from a Dutch viewpoint, to find out whose fault it is rather than fix the problem.

Tue, 04/02/2013 - 18:29 | 3401186 Freddie
Freddie's picture

I recall a Dutch girl when I was younger.  She was probably about 6 feet tall and gorgeous.  There are some fine women in Holland. 

Tue, 04/02/2013 - 18:55 | 3401242 Popo
Popo's picture

So you like women that are built like men?

Tue, 04/02/2013 - 19:34 | 3401349 mayhem_korner
mayhem_korner's picture



Are you askin' cuz your lookin' to hook up with Freddie?  Lookin' at his mug, not sure who the "winner" would be...

Tue, 04/02/2013 - 13:14 | 3400077 walküre
walküre's picture

You really don't know too much about Europe in general do you? Holland is lock, stock and barrel married to Germany with the Euro. The two economies are interdependent for decades and the DM and Gulden were both rock solid.

Should listen to the previous guy who made the case for the expansion of credit, money from nothing loaned into existence for interest. The money is not real, the debt is bogus and what Europe as much as North America needs is a real solution to a debt problem.

Wipe out the bankers for starters. Wipe out the debt and start from scratch with a prudent and sound financial system.

Tue, 04/02/2013 - 13:31 | 3400135 Pseudo Anonym
Pseudo Anonym's picture

so,....should i first borrow eu5MM, purchase a house and wait for

Wipe out the bankers for starters. Wipe out the debt and start from scratch

and once the debt is wiped out, i am left with a house?

Tue, 04/02/2013 - 13:50 | 3400226 walküre
walküre's picture

If you can get your hands on 5 mil, then go and do it. What happens to the house next is up to you.

Tue, 04/02/2013 - 13:54 | 3400237 slightlyskeptical
slightlyskeptical's picture

They just need to print, though I don't think they can, to buy out the mortgage market and refinance on better terms. Money eventually all gets extinguished as the debt is repayed.

Tue, 04/02/2013 - 13:37 | 3400146 Ahmeexnal
Ahmeexnal's picture

The money is not real, the debt is bogus

So it would be completely ethical for the Greek, Spaniards, Italians, Cypriots, Irish, Portuguese to renege on their bogus debt to the teutonic/franco/anglo banking mafia?  I'm sure die Fuhrerin and her vasals would not like that idea, as it would entail Weimar 2.0 on steroids onto the uber alles sheep, as the sucking sound shock of all those euros going back to das vaterland would knock them off their tiny feet.


Tue, 04/02/2013 - 13:46 | 3400211 walküre
walküre's picture

Absolutely. I'm waiting patiently. Default already. I don't give a shit about German banks or how the Germans get wiped out in the process. Their mistake for investing so much sweat equity and efforts into this shit show. It was never designed properly and cannot work. A single currency, a single central bank and no fiscal pact is a fucking joke. I care about the person more than I care about their "net worth". Even the richest dude puts his pants on one leg at a time. The guys at the top across Europe are too rich. It costs us at the bottom too much to service their wealth. Same as it ever was and it will end the same as it always does.

The national borders are maintained by the political whores to keep us confined within our space. Keep us working where we're at and produce assets and lifestyle for them. The time is long passed for a good round of ass kicking and head chopping in Athens, Rome, Madrid, Lisbon, Paris, Le Hague, Brussels and Berlin. We want to be free, plain and simple.

Tue, 04/02/2013 - 13:51 | 3400228 Ahmeexnal
Ahmeexnal's picture

I recommend you watch Bela Tarr's "Turin Horse" for a better understanding of what the endgame will be/has been.

Tue, 04/02/2013 - 17:02 | 3400932 bank guy in Brussels
bank guy in Brussels's picture

For those not familiar with European film, here is that scene from 'Turin Horse' ...

A man walks in to buy a bottle of liquor ... says he did not go into town, because the town has been in destroyed

And then goes into a five minute quiet rant ... about how the bad guys win in the world, they own everything ...

And how what you would imagine or hope is the 'opposition' ... in fact gives up and fades away, when they realise that they have no hope, no chance ... because, the man claims, there is no god [this is a pessimistic pro-Nietsche movie]

Cinematically well done, but depressing ... and many of us would disagree, believing that there is a God and heaven, and justice that will come one day ...

But worth a look ... the same kind of gloomy European film tradition as Bergman's great 'The Seventh Seal'

The 'Turin Horse' scene here on YT with English subtitles, and its theme of the

« disappearance of the excellent, the great, the noble ... »

Tue, 04/02/2013 - 18:34 | 3401197 Freddie
Freddie's picture

I have not seen Turin Horse.  Seventh Seal is depressing but Max von Sydow's character is positive and shows there is some good left in mankind. 

Tue, 04/02/2013 - 13:53 | 3400233 Bastiat
Bastiat's picture

"A single currency, a single central bank and no fiscal pact is a fucking joke."

It's a fucking joking joke with those things when you have debt backed fractionally reserved fiat system compounding itself to death.

Tue, 04/02/2013 - 17:39 | 3401048 Debugas
Debugas's picture

it is because the whole idea was to open up the markets for germany and lock everybody else in hard euro currency so they can not defend agains more efficient german goods.

Noone ever talked about common social security or welfare system across europe. Hell even in germany itself eastern germans are treated as second class and get lower joblessness payouts etc

Tue, 04/02/2013 - 14:13 | 3400320 dick cheneys ghost
dick cheneys ghost's picture

@walkure...........''The guys at the top across Europe are too rich. It costs us at the bottom too much to service their wealth.''


Best line ever

Tue, 04/02/2013 - 15:40 | 3400636 Ghordius
Ghordius's picture

So a worldwide gold standard would mean a world-government? /S

Tue, 04/02/2013 - 15:08 | 3400507 CheapBastard
CheapBastard's picture

I don't know about you guys but I remember Hollad famous for its thriving Red Light District. I did read that area is having a 'soft patch' presently until the economy firms up, shall we say?

Tue, 04/02/2013 - 19:05 | 3401267 Dutch Knight
Dutch Knight's picture

hookers are all over the world, we have them on display, so what?

Tue, 04/02/2013 - 21:49 | 3401667 Mototard at Large
Mototard at Large's picture

I still have some guilders in my coffee can from when I lived there in 2000.  they are right next to the 40 DM I still have as well.  Will they be good again soon?

Tue, 04/02/2013 - 13:54 | 3400244 thisandthat
thisandthat's picture

Nonsense, there always will be some sucker around to stick with the tab - it's the whole point of it - just make sure you hold on long enough for one to show up, or you're screwed...

Tue, 04/02/2013 - 22:51 | 3401816 Buck Johnson
Buck Johnson's picture

Your dead on, dead on.  And the funny thing is that I knew that the Netherlands and Holland was in trouble but  they where hiding it.  Remember when Spain and Italy was hiding it?  Soon, very soon the Netherlands will need a bailout.

Tue, 04/02/2013 - 13:21 | 3400104 Stoploss
Stoploss's picture

"consumer debt amounts to about 250% of available income"


There's your bogeyman.

How do you deflate that without creating hyperinflation???

LOL!!  You can't!!  LOL!!

Keep printing..

Tue, 04/02/2013 - 15:52 | 3400682 Matt
Matt's picture

"How do you deflate that without creating hyperinflation???"

lots of defaults.

Tue, 04/02/2013 - 14:01 | 3400278 zilverexmachina
zilverexmachina's picture

Note to netherlands:  stop bailing out PIIGS

Tue, 04/02/2013 - 14:08 | 3400297 Jack Burton
Jack Burton's picture

Note to Muslims. Open your borders, instead of only taking in guest workers as slaves and shipping them out the instant their slave value declines!

Note to Holland. CLose the borders until the rest of the world opens theirs just like you did and offer the same economic and social benefits to imigrants as you do!

Reverse racism is rampant and insidious. Everyman claims the right to live in Europe and claim the benefits, while their home countries remain anti white strongholds and racist to their very core. Actions speak louder than words, we are aking up to who the world's biggest racists are who hide behind victim status.

Tue, 04/02/2013 - 17:20 | 3400999 Zeilschip
Zeilschip's picture

Seriously no one even mentions the 700+ billion in Dutch pension money? Seriously?

Tue, 04/02/2013 - 19:08 | 3401271 Dutch Knight
Dutch Knight's picture

1100 biljion in savings

Tue, 04/02/2013 - 12:57 | 3400009 Intelligence_In...
Intelligence_Insulter's picture

Muslims did 9/11.

Tue, 04/02/2013 - 12:58 | 3400021 ghandi
ghandi's picture

Muslims did your mother.

Tue, 04/02/2013 - 13:41 | 3400176 fxrxexexdxoxmx
fxrxexexdxoxmx's picture

Muslims like little boys. They have no desire for womren unless they can beat them up and hide the brusies under burkas.

Tue, 04/02/2013 - 15:59 | 3400722 ghandi
ghandi's picture

I guess you speak from experience.


Take your hate and eat it with matzo.

Tue, 04/02/2013 - 13:45 | 3400208 FeralSerf
FeralSerf's picture

Jews masquerading as Muslims did 9/11.  Bush and Cheney helped.

Tue, 04/02/2013 - 14:09 | 3400309 Red Lenin
Red Lenin's picture

And Christians did Hiroshima and Auschwitz.

Tue, 04/02/2013 - 15:10 | 3400514 CheapBastard
CheapBastard's picture

And Japanese Buddhists did Nanking.



Tue, 04/02/2013 - 17:25 | 3401019 Meat Hammer
Meat Hammer's picture

But who shot J.R.?!?!

Tue, 04/02/2013 - 17:05 | 3400951 frenchie
frenchie's picture

sry jews again did...

stop reading bullshit on amazon, might help


Tue, 04/02/2013 - 13:27 | 3400127 Peter Pan
Peter Pan's picture

If you are going to the trouble of deporting muslims you may as well take the opportunity and put the bankers on the same boat.

Tue, 04/02/2013 - 13:32 | 3400148 Sudden Debt
Sudden Debt's picture

muslims don't like pigs...

Tue, 04/02/2013 - 14:21 | 3400338 Freddie
Freddie's picture

Pigs are much nicer than Muslims. 

Tue, 04/02/2013 - 14:22 | 3400343 Sudden Debt
Sudden Debt's picture

and pigs have better table matters!!

Tue, 04/02/2013 - 18:56 | 3401244 thisandthat
thisandthat's picture

None has ever faulted me on that (piglets, that is) - all patiently waiting their turn to be eaten and done with!

Tue, 04/02/2013 - 15:44 | 3400646 Ghordius
Ghordius's picture

Freddie, how many bombs and drones... moar?

Tue, 04/02/2013 - 17:48 | 3401081 TheFourthStooge-ing
TheFourthStooge-ing's picture


Freddie, how many bombs and drones... moar?

He can't count that high. He's the ZH equivalent of the 6th-grade kid that's not quite retarded enough for special education.

Tue, 04/02/2013 - 18:40 | 3401207 Freddie
Freddie's picture

You think I support the whole war and war on terror industry?  It is total BS.  I don't support drones or bombs.

I prefer there were no semetic people in Europe - either side is sh*t.   If you think I have any dog in the middle east that I like - I don't.  Includes Israel too aka LBJ - the J is for you know what and the USS Liberty.   KEnnedys are POS's but JFKL supposedly was going to nuke the Fed. 

The only people I admire over there is the Egyptians fighting Obam's Muslim Brotherhood, includes Coptic Christians in Egypt trying to survive, and Syrians.  I am no fan of Assad but he is better than O and his pals in Riyad and Tel Aviv trying to grab Syra.

Tue, 04/02/2013 - 18:53 | 3401232 thisandthat
thisandthat's picture

Couldn't say, never ate Muslim yet :( (piglets are a local delish though :) ), but good on you, some sexy looking chicks hidding under those burkas, definitely...

Tue, 04/02/2013 - 13:56 | 3400247 Milestones
Milestones's picture

Why ship them whole on a boat when ashes are so much more compact.          Milestones

Tue, 04/02/2013 - 13:35 | 3400158 dtwn
dtwn's picture

Export cannabis.

Tue, 04/02/2013 - 13:41 | 3400177 machineh
machineh's picture

Holland did the opposite -- encouraged drug tourists to go away.

Now look what happened.

Tue, 04/02/2013 - 15:02 | 3400493 justinius1969
justinius1969's picture

Oh the delicous irony of those clever tall people blew up the Euro.. Please, if there is a god.

Tue, 04/02/2013 - 15:40 | 3400627 TheGardener
TheGardener's picture

The low lands to lay down first. What a surprise.As for
the aliens being disposed off I will not seek to see no pictures.

Give me reasons to survive and cross this new divide.

Wed, 04/03/2013 - 01:24 | 3402135 e-recep
e-recep's picture

it was the muslims who invented the central banking ponzi, eh? no, they were the ones who forced the netherlands to join the eu, right?

god, i hate retards.

Wed, 04/03/2013 - 01:34 | 3402145 Tompooz
Tompooz's picture

Deport? Muslims? What do they have to do with the banksters?  Apart from that, you can't use the D-word in Europe. Too many old horrors.

Tue, 04/02/2013 - 12:51 | 3399992 malikai
malikai's picture

I hope this means Amsterdam is getting cheaper.

Tue, 04/02/2013 - 12:53 | 3399997 agent default
agent default's picture

Looks like everyone is Greece.

Tue, 04/02/2013 - 12:59 | 3400015 McMolotov
McMolotov's picture

Greece is the word...

And soon, collapse will be the word. Then it's war's turn.

Tue, 04/02/2013 - 13:04 | 3400047 kridkrid
kridkrid's picture

AKA the liquidation of unfunded liabilities

Tue, 04/02/2013 - 12:52 | 3399994 DoChenRollingBearing
DoChenRollingBearing's picture

Oh, great, another European country we have to worry about.  And these guys are historically responsible people (the Dutch).

Tue, 04/02/2013 - 13:00 | 3400027 Zwelgje
Zwelgje's picture

That is just image. The motto of most Dutch is "with what I can get away with is legal."

Tue, 04/02/2013 - 13:10 | 3400068 blabam
blabam's picture

It's everybody stealing from everybody here. The perfect socialist state. 

Tue, 04/02/2013 - 13:41 | 3400168 Sudden Debt
Sudden Debt's picture

As a Belgian citizen... I do not agree with you.

we have a saying:


meaning, they can sell you a lot of bullshit and talk talk talk all day but they do shit and are totally incompetent.
We as Belgians are the working kind and hate those talkers when during business hours. If you want things to be done, you call us, if you want to hear 20 guys give excuses why it can't be done... you speak to the dutch.

I work a lot with the dutch... he first few years they won every discussion when I was in a minorty meeting.
Now they fucking hate me because I can make them all leave a meeting crying like babies.

They need 3 times as manny people to do something where we only need 1.

and since we where taken over by a American firm, the Americans noticed that and are firing as many as they can :)


I even jumped in my car once to wave some of the bastards goodbye when I heard they where getting fired :)
Every time we hear they're firing Dutch people... we just give a little smile to each other :)

Tue, 04/02/2013 - 13:47 | 3400216 Tango in the Blight
Tango in the Blight's picture

That's right, it only took you 541 days to form a government.

And 10 years to split Brussels-Halle-Vilvoorde.

Tue, 04/02/2013 - 13:53 | 3400232 Sudden Debt
Sudden Debt's picture

That was because we don't like the French for stealing our money!!

And don't get me started about the Germans or the British.... we hate them to...

Tue, 04/02/2013 - 13:59 | 3400262 Ahmeexnal
Ahmeexnal's picture

You evidently don't hate the French/Dutch/German/British as much as you hate the Congolese.

Tue, 04/02/2013 - 14:21 | 3400341 Sudden Debt
Sudden Debt's picture

we already dealth with the congolese... SHOP SHOP BITCHEZ!!

Tue, 04/02/2013 - 14:07 | 3400292 Motorhead
Motorhead's picture

Sick 'em, SD!

BTW, the trappist beer I'm enjoying this very minute is quite yummy.  I should be mellow by the time the Champions League games start.

Tue, 04/02/2013 - 15:15 | 3400532 Tango in the Blight
Tango in the Blight's picture

That's about the only thing they get right in Belgium: BEER!

Tue, 04/02/2013 - 13:54 | 3400245 walküre
walküre's picture

Dude, you're sitting in a glass house. Maybe what you say is true for your company but have you taken road trips through Belgium? Parts of that little country are pretty pathetic and in depression for decades now. If I'm not mistaken, the biggest economic factor to Belgium are NATO and EU offices and bureacracies. Then Dutch and German citizens who own second homes in Belgium. At least you're closer to Paris FWIW.

Tue, 04/02/2013 - 14:07 | 3400285 Joe A
Joe A's picture

Woohahaha. The only thing that keeps Belgium afloat is because it is the seat of the EU and NATO. Oh yeah, and perhaps some chocolates and beer. But that is it.

But I will give you that the Dutch are bloated big mouths who think they know everything better. I know because I am one.

Tue, 04/02/2013 - 14:34 | 3400300 Ahmeexnal
Ahmeexnal's picture

Do not underestimate the importance of Vlaamse Frites. Oh, and they do have those metastable allotropes of carbon over at Antwerpen.

Tue, 04/02/2013 - 14:54 | 3400450 css1971
css1971's picture

The beer & chocolates ain't all that.


Tue, 04/02/2013 - 15:10 | 3400521 _ConanTheLibert...
_ConanTheLibertarian_'s picture

I'm Dutch and actually living in Belgium now.
Your complaints are valid. We call it the POLDER MODEL. A lot of talk but no progress,

It's funny because on the other hand the Dutch are notorious for being impatient and too direct when doing business.

Often in foreign cultures it's the custom to do some partying first and do business later.

The Dutch will often try to skip the partying which is quite rude.

Tue, 04/02/2013 - 15:16 | 3400543 Tango in the Blight
Tango in the Blight's picture

It's easier to con someone when they're pissed. We Dutch aren't stupid, we conduct business first and then get pissed.

Tue, 04/02/2013 - 15:16 | 3400538 DoChenRollingBearing
DoChenRollingBearing's picture

Sudden Debt

I bow to your superior knowledge, having had to work with 'em...!  

Maybe they're not good workers because they're stoned all the time?

Tue, 04/02/2013 - 17:58 | 3401106 TheFourthStooge-ing
TheFourthStooge-ing's picture


Maybe they're not good workers because they're stoned all the time?

C'mon, DoChen, don't crack on the stoners. Most do better work (and more of it) than just about any middle- or upper-management. As for those that don't, they end up being promoted to middle management.

Tue, 04/02/2013 - 19:13 | 3401291 Dutch Knight
Dutch Knight's picture

:-) we dutch can cry beatifuly, check out Hommen from ing, investing bilions in greece and now they are low on return he cry's every day

Tue, 04/02/2013 - 12:53 | 3399996 ParkAveFlasher
ParkAveFlasher's picture

Gettin' mighty crowded on the brink.

Tue, 04/02/2013 - 13:36 | 3400157 NoDebt
NoDebt's picture

If you don't mind, I'm going to steal that comment and use it like I came up with it myself.

Tue, 04/02/2013 - 13:41 | 3400181 ParkAveFlasher
ParkAveFlasher's picture

I've probably done that myself, already.  Bitchez.

Tue, 04/02/2013 - 13:40 | 3400174 ZerOhead
ZerOhead's picture

And unfortunately all it takes from there is just a little shove...

Tue, 04/02/2013 - 14:21 | 3400337 Winston Churchill
Winston Churchill's picture

Wile E Coyote seems to have a lot of company these days.

Tue, 04/02/2013 - 12:56 | 3400006 Intelligence_In...
Intelligence_Insulter's picture

Socialism does not work.

Tue, 04/02/2013 - 12:59 | 3400025 McMolotov
McMolotov's picture

Neither does fascism, but that ain't gonna stop us from trying.

Tue, 04/02/2013 - 13:11 | 3400067 kridkrid
kridkrid's picture

We should give anarchism a shot.

Tue, 04/02/2013 - 13:30 | 3400137 Peter Pan
Peter Pan's picture

Even if we don't take a shot at anarchism, it will take a shot at us.

Tue, 04/02/2013 - 13:41 | 3400183 kridkrid
kridkrid's picture

I'm talking about the good anarchism, not the bad one.

Tue, 04/02/2013 - 17:55 | 3401097 formadesika3
formadesika3's picture

Every bad idea started out as a good one.

Tue, 04/02/2013 - 13:14 | 3400076 eddiebe
eddiebe's picture

Neither does cleptocratic corporate fascist capitalism.

Tue, 04/02/2013 - 14:44 | 3400416 smacker
smacker's picture


Those labels simply describe what happens to free market capitalism when socialism wrecks it.

Tue, 04/02/2013 - 13:45 | 3400202 Sudden Debt
Sudden Debt's picture

Holland is one of the least socialist countries in europe,

the difference between Holland and the rest of europe is that about 90% of their economy is boxmoving.
And their margins are in decline for the last 10 years.
They just know jack shit about producing.



Tue, 04/02/2013 - 14:02 | 3400280 TeamDepends
TeamDepends's picture

It's "climate change" now, they had to reshuffle again.  Back in the 80's we were heading for an ice age.  They like to keep us guessing.

Tue, 04/02/2013 - 14:29 | 3400385 Ahmeexnal
Ahmeexnal's picture

I really can't wait until those paid shill pseudo-scientists decide to once again rename it, this time to ANTHROPOMORPHIC INDUCED CORONAL MASS EJECTION.

Tue, 04/02/2013 - 16:53 | 3400903 DoChenRollingBearing
DoChenRollingBearing's picture

It will be George Bush's fault.

Tue, 04/02/2013 - 16:53 | 3400899 DoChenRollingBearing
DoChenRollingBearing's picture

Been snoozing TeamDepends?   :)

The new one is "New Normal Climatic Extremes"

1970s - 1980s: Global Cooling

1990s - 2000s: Global Warming

2000s - 2012: Global Climate Change

2013: New Normal Climatic Extremes

They keep changing the terminology to match the facts..., LOL!

Tue, 04/02/2013 - 19:49 | 3401375 TeamDepends
TeamDepends's picture

Your tax dollars at work.

Tue, 04/02/2013 - 19:16 | 3401304 Dutch Knight
Dutch Knight's picture

and wat does belgium produce? we have names like shell, unilever philips, asml, heineken and nore.

Tue, 04/02/2013 - 12:56 | 3400007 Temporalist
Temporalist's picture

Spend more teven!  Don't you have a wise political sage to tell you to go shopping?


Tue, 04/02/2013 - 13:50 | 3400227 Sudden Debt
Sudden Debt's picture

About the Dutch spending habbits....

does GO DUTCH says anything to you?!?!?


Tue, 04/02/2013 - 12:56 | 3400010 NEOSERF
NEOSERF's picture

Wait til these charts represent France...then Europe will be in some deep pate...ESM, EFSF, ECB, doesn't matter what you call it, there will be no contributors but Mssr Draghi who at that point will ignore Germany and pull out the Bernanke Helicopter.  Once he starts printing, everyone will calm down again for about 4 years...based on the US, good time to buy banks..

Tue, 04/02/2013 - 13:04 | 3400013 JustObserving
JustObserving's picture

US has debt of $16.75 trillion and unfunded liabilities of $123.3 trillion and they increase at $8.2 trillion a year,  Official unemployment is 7.7% but actual is between 14% and 20% (Shadowstats says it is 23%).  Holland is much better off than the USA but USA has better statisticians at the Bureau of Labor Statistics.

In modern economics those who  can lie better, win.


Tue, 04/02/2013 - 13:17 | 3400086 walküre
walküre's picture

The US has THE reserve currency and enforces the acceptance of their clownbux funny money by the rest of the world at gun point.

That's really all there is to it.

Tue, 04/02/2013 - 13:36 | 3400145 JustObserving
JustObserving's picture

I agree.  The $4 to $6 trillion cost of the Iraq and Afghanistan wars will bankrupt USA.  Just $732 billion (2011 dollars) spent on Vietnam moved USA off the gold standard on Aug 15, 1971.

It may be good to have a gun but it is too expensive to use it.


Cost of Iraq, Afghanistan wars will keep mounting

Together they'll be the most expensive in U.S. history, costing as much as $6 trillion over time, a new analysis says. Veterans' care will probably be the biggest future expense.


Tue, 04/02/2013 - 14:25 | 3400354 Winston Churchill
Winston Churchill's picture

Maybe nobody is DC heard about Afghanistan being the graveyard of empires.

Fucktards have never read a history book,or forgot it if they did.

Tue, 04/02/2013 - 18:44 | 3401213 Freddie
Freddie's picture

Vietnam = L-B-J*w.  Yeah his grandmother was.   He was also one of the greediest MF'ers ever.  See LBJ and USS Liberty. 

Tue, 04/02/2013 - 13:28 | 3400131 dobermangang
dobermangang's picture

But the USA has nukes and drones and knows how to use them.

Tue, 04/02/2013 - 13:00 | 3400029 glenlloyd
glenlloyd's picture

It always comes back to the claim that people aren't spending enough, which is just another way of saying that saving is bad...tsk tsk. That goes right in my bucket of nonesense along with the idea that we can borrow / print our way to prosperity.

Tue, 04/02/2013 - 13:03 | 3400039 butchee
butchee's picture

OTC Tulip derivatives coming to a florist near you.

Tue, 04/02/2013 - 13:04 | 3400040 Dareconomics
Dareconomics's picture

While the Dutch are considered part of the northern tier in Europe, the Euro is actually too strong a currency for their country.  A valuation of about $1.22 is right for there economy.  This is about the same value as in France, so it is not surprising that they are undergoing a similar economic malaise. 

Chart here:



Tue, 04/02/2013 - 15:48 | 3400665 Ghordius
Ghordius's picture

Though the Dutch ECB governor is a hawk, I understand...

Tue, 04/02/2013 - 19:21 | 3401314 Dutch Knight
Dutch Knight's picture

no, a dumm pussy

Tue, 04/02/2013 - 13:05 | 3400049 Edward Fiatski
Edward Fiatski's picture

This ends well.


Tue, 04/02/2013 - 13:05 | 3400051 realtick
realtick's picture

nice graphic

Tue, 04/02/2013 - 13:08 | 3400054 Bokkenrijder
Bokkenrijder's picture

FYI, "Holland" is not a country, but North and South Holland are two provinces in THE NETHERLANDS...

Tue, 04/02/2013 - 13:08 | 3400062 Zwelgje
Zwelgje's picture

Only peasants make a point of this. ;-p

Tue, 04/02/2013 - 13:32 | 3400119 NoDebt
NoDebt's picture

I got lost in Amsterdam once.  Then I found a "coffee house" and got REALLY lost- vague memories of the red-light district, etc.  Next morning I went to the US Embasy and applied for an emergency replacement for my passport (which was stolen along with my laptop bag, naturally).  It was a fiasco.  But I still love the place.

Out in the country..... If you ever happen to visit a town in Pennsylvania called New Holland, PA..... you'll know why they named it New Holland.  It's like EXACTLY THE SAME- lush green fields, rolling hills, the whole 9 yards (no windmills, sadly.  More's the pity.).

Good luck figuring out that whole "mountains of bad debt and over-promising people stuff" thing worked out.  We could use some advice on how to do that over here if you do.  You guys do that socialism thing way better than we do in the US.  So, since we're headed your way soon, maybe you wouldn't mind helping a brother out?

Tue, 04/02/2013 - 13:52 | 3400230 mofreedom
mofreedom's picture

fries with mayo, awesome.

Tue, 04/02/2013 - 13:53 | 3400238 Tango in the Blight
Tango in the Blight's picture

You must have taken a long time to figure out that the US Embassy in the Netherlands is located in The Hague.


Tue, 04/02/2013 - 14:27 | 3400367 gaoptimize
Tue, 04/02/2013 - 14:42 | 3400412 trader1
trader1's picture

no coffee shops either...

Tue, 04/02/2013 - 13:43 | 3400164 thisandthat
thisandthat's picture

FYI "England" isn't a country either - yet no one cares and still calls them all "the English" - they even reminded their would be POWs in WW2 about that fact, just in case they'd be thinking of claiming to be Scots or something (say what?).

Tue, 04/02/2013 - 13:45 | 3400210 The Onion Of Tw...
The Onion Of Twickenham's picture

FYI England IS a country, the largest of the three countries (England, Scotland and Wales) that make up Great Britain, which together with Northern Ireland constitutes the sovereign nation of the United Kingdom. It must be true -  it says it on wikipedia.

Tue, 04/02/2013 - 14:09 | 3400302 thisandthat
thisandthat's picture

Right... FYI only THEY think so - it isn't a real country if it doesn't even have a single political institution (and unlike Scotland, Wales and NI, btw - a country by omission?)... and about the wikipedia, as a Portuguese, a friendly warning to anyone so inclined: don't take their age of consent word for it - just saying...

Tue, 04/02/2013 - 14:46 | 3400422 css1971
css1971's picture

No they aren't. They are simply provinces of the UK.

Tue, 04/02/2013 - 15:19 | 3400549 Ahmeexnal
Ahmeexnal's picture

Neo-feudal fiefdoms is the term you were looking for.

Tue, 04/02/2013 - 15:48 | 3400664 css1971
css1971's picture

Yeah that about sums it up.

Tue, 04/02/2013 - 15:51 | 3400684 Ghordius
Ghordius's picture

Officially: the Kingdom of England, the Kingdom of Scotland and the Principality of Wales

You should improve on your feudalism studies - you should know what you fight

Tue, 04/02/2013 - 14:14 | 3400321 Joe A
Joe A's picture

And the US is not a country either but a concept.

Tue, 04/02/2013 - 13:07 | 3400056 viedoklis_lv
viedoklis_lv's picture

Never mind :)

Tue, 04/02/2013 - 13:08 | 3400058 UK debt marsh
UK debt marsh's picture




Tue, 04/02/2013 - 13:44 | 3400193 thisandthat
thisandthat's picture

Ho land?

Tue, 04/02/2013 - 15:20 | 3400555 Tango in the Blight
Tango in the Blight's picture

The git is part Dutch IIRC.

Tue, 04/02/2013 - 13:09 | 3400063 UK debt marsh
UK debt marsh's picture

Time to stick fingers in a dyke's hole!

Tue, 04/02/2013 - 16:36 | 3400849 BattlegroundEur...
BattlegroundEurope2011's picture

Do you think she will like it?


Tue, 04/02/2013 - 13:10 | 3400064 thisandthat
thisandthat's picture

Damned you Tyler, who's side are you on, now: the terminally subsidized, unwashed piglet socialists from the peripheral fringes, or the sound, thoughtful, healthy and wealthy TruR'Peens(tm) from Heartland Europe? These are the DUTCH, for Christ's sake, they've built their own country from scratch, dude, they didn't just wait or expected for it to be handed to them on a silver plate by some nanny god or anyone, like everyone else - they're 1337, they pwn major sh!t, they're legend or something - they wouldn't just screw it all up like the rest of us (nor in any other way, anyway). I call you a socialist scumbag summa cum laude, on this "news" alone. Go away now, you destroyer of hopes...

I should start a leave the dutch alone campaign right now - I should expect nothing less  than full support from any freedom loving, nanny hating libertarians out there (you know who you are)!

There, said!

Tue, 04/02/2013 - 13:11 | 3400066 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

And when their banks blow up do they get equal treatment like Cyprus or are they betterer.

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