This page has been archived and commenting is disabled.

20 Signs That The Next Great Economic Depression Has Already Started In Europe

Tyler Durden's picture




 

Submitted by Michael Snyder of The Economic Collapse blog,

The next Great Depression is already happening - it just hasn't reached the United States yet.  Things in Europe just continue to get worse and worse, and yet most people in the United States still don't get it.  All the time I have people ask me when the "economic collapse" is going to happen.  Well, for ages I have been warning that the next major wave of the ongoing economic collapse would begin in Europe, and that is exactly what is happening.  In fact, both Greece and Spain already have levels of unemployment that are greater than anything the U.S. experienced during the Great Depression of the 1930s.

Pay close attention to what is happening over there, because it is coming here too.  You see, the truth is that Europe is a lot like the United States.  We are both drowning in unprecedented levels of debt, and we both have overleveraged banking systems that resemble a house of cards.  The reason why the U.S. does not look like Europe yet is because we have thrown all caution to the wind.  The Federal Reserve is printing money as if there is no tomorrow and the U.S. government is savagely destroying the future that our children and our grandchildren were supposed to have by stealing more than 100 million dollars from them every single hour of every single day.  We have gone "all in" on kicking the can down the road even though it means destroying the future of America.  But the alternative scares the living daylights out of our politicians.  When nations such as Greece, Spain, Portugal and Italy tried to slow down the rate at which their debts were rising, the results were absolutely devastating.  A full-blown economic depression is raging across southern Europe and it is rapidly spreading into northern Europe.  Eventually it will spread to the rest of the globe as well.

The following are 20 signs that the next Great Depression has already started in Europe...

#1 The unemployment rate in France has surged to 10.6 percent, and the number of jobless claims in that country recently set a new all-time record.

#2 Unemployment in the eurozone as a whole is sitting at an all-time record of 12 percent.

#3 Two years ago, Portugal's unemployment rate was about 12 percent.  Today, it is about 17 percent.

#4 The unemployment rate in Spain has set a new all-time record of 27 percent.  Even during the Great Depression of the 1930s the United States never had unemployment that high.

#5 The unemployment rate among those under the age of 25 in Spain is an astounding 57.2 percent.

#6 The unemployment rate in Greece has set a new all-time record of 27.2 percent.  Even during the Great Depression of the 1930s the United States never had unemployment that high.

#7 The unemployment rate among those under the age of 25 in Greece is a whopping 59.3 percent.

#8 French car sales in March were 16 percent lower than they were one year earlier.

#9 German car sales in March were 17 percent lower than they were one year earlier.

#10 In the Netherlands, consumer debt is now up to about 250 percent of available income.

#11 Industrial production in Italy has fallen by an astounding 25 percent over the past five years.

#12 The number of Spanish firms filing for bankruptcy is 45 percent higher than it was a year ago.

#13 Since 2007, the value of non-performing loans in Europe has increased by 150 percent.

#14 Bank withdrawals in Cyprus during the month of March were double what they were in February even though the banks were closed for half the month.

#15 Due to an absolutely crippling housing crash, there are approximately 3 million vacant homes in Spain today.

#16 Things have gotten so bad in Spain that entire apartment buildings are being overwhelmed by squatters...

A 285-unit apartment complex in Parla, less than half an hour’s drive from Madrid, should be an ideal target for investors seeking cheap property in Spain. Unfortunately, two thirds of the building generates zero revenue because it’s overrun by squatters.

“This is happening all over the country,” said Jose Maria Fraile, the town’s mayor, who estimates only 100 apartments in the block built for the council have rental contracts, and not all of those tenants are paying either. “People lost their jobs, they can’t pay mortgages or rent so they lost their homes and this has produced a tide of squatters.”

#17 As I wrote about the other day, child hunger has become so rampant in Greece that teachers are reporting that hungry children are begging their classmates for food.

#18 The debt to GDP ratio in Italy is now up to 136 percent.

#19 25 percent of all banking assets in the UK are in banks that are leveraged at least 40 to 1.

#20 German banking giant Deutsche Bank has more than 55 trillion euros (which is more than 72 trillion dollars) of exposure to derivatives.  But the GDP of Germany for an entire year is only about 2.7 trillion euros.

Yes, U.S. stocks have been doing great so far this year, but the truth is that the stock market has become completely and totally divorced from economic reality.  When it does catch up with the economic fundamentals, it will probably happen very rapidly like we saw back in 2008.

Our politicians can try to kick the can down the road for as long as they can, but at some point the consequences of our foolish decisions will hunt us down and overtake us.  The following is what Peter Schiff had to say about this coming crisis the other day...

"The crisis is imminent," Schiff said.  "I don't think Obama is going to finish his second term without the bottom dropping out. And stock market investors are oblivious to the problems."

"We're broke, Schiff added.  "We owe trillions. Look at our budget deficit; look at the debt to GDP ratio, the unfunded liabilities. If we were in the Eurozone, they would kick us out."

Schiff points out that the market gains experienced recently, with the Dow first topping 14,000 on its way to setting record highs, are giving investors a false sense of security.

"It's not that the stock market is gaining value... it's that our money is losing value. And so if you have a debased currency... a devalued currency, the price of everything goes up. Stocks are no exception," he said.

"The Fed knows that the U.S. economy is not recovering," he noted. "It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode."

So please don't think that we are any different from Europe.

If the United States government started only spending the money that it brings in, we would descend into an economic depression tomorrow.

The only way that we can continue to live out the economic fantasy that we see all around us is by financially abusing our children and our grandchildren.

The U.S. economy has become a miserable junkie that is completely and totally addicted to reckless money printing and gigantic mountains of debt.

If we stop printing money and going into unprecedented amounts of debt we are finished.

If we continue printing money and going into unprecedented amounts of debt we are finished.

Either way, this is all going to end very, very badly.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 05/01/2013 - 07:56 | 3517147 TuesdayBen
TuesdayBen's picture

ZH would promptly be shut down by the statists for spreading 'disinformation'

Tue, 04/30/2013 - 22:36 | 3516419 Pairadimes
Pairadimes's picture

"Jamie, bring me my brown trousers!" - Bernanke

Wed, 05/01/2013 - 01:34 | 3516839 spekulatn
spekulatn's picture

That's some funny Pairadimes!!

Tue, 04/30/2013 - 22:36 | 3516420 A82EBA
A82EBA's picture

I know TA doesn't hold much ground here but Dollar index (DXY0), Bollinger Bands inside Keltner Channels for 25 sessions now, MACD negative, if break out to bottom side should be big boost for gold

Tue, 04/30/2013 - 22:42 | 3516459 espirit
espirit's picture

Meh, matrix metrics.

Tue, 04/30/2013 - 22:37 | 3516424 Captnkirk
Captnkirk's picture

don't worry one more eathquake in japan and we're all toast anyway

 

Wed, 05/01/2013 - 01:34 | 3516833 freewolf7
freewolf7's picture

The previous earthquake was man-made.

Wed, 05/01/2013 - 02:41 | 3516897 Mike in GA
Mike in GA's picture

Oh Harold...

Wed, 05/01/2013 - 04:23 | 3516962 The Second Rule
The Second Rule's picture

No it's like the government HAARP and shit...I'm serial.

Tue, 04/30/2013 - 22:40 | 3516428 yogibear
yogibear's picture

Bubble Bernanke, the Fed and media talking heads say...

1. - Jobs don't matter (new normal)

2. - Profits don't matter (always lower earnings, then beat)

3. European depression doesn't matter ( new, just added)

All that matters is Bubble Bernanke throwing QE money at banks to buy stocks.

What happened to that missing $9 trillion on the Fed's 

 http://www.youtube.com/watch?v=GYNVNhB-m0o

LOL, The Federal Reserve Banksters Scam-A-Thon and Pozi-thon

China is the land of fools for accepting soon to be worthless US dollars.

Tue, 04/30/2013 - 23:39 | 3516645 andrewp111
andrewp111's picture

China - land of fools buying empty flats in newly built (but crumbling) shoddy concrete buildings as a long term store of value. The smarter ones are buying Real Estate here and in Canada.

Wed, 05/01/2013 - 04:25 | 3516964 The Second Rule
The Second Rule's picture

Man, you are dead right about that. Have you been there. Fucking malls and office buildings only a few years old with rebar spalling out of the concrete and sheetrock blistering and falling off the walls. Doorknobs where the painted on brass comes off in your palm. The whole place is like Disneyworld, only faker.

Tue, 04/30/2013 - 22:39 | 3516430 HD
HD's picture

Whats with all the doom and gloom? New S&P high today! Go Ponzi - Free fiat for everyone!*

 

*in the 1%

 

 

Tue, 04/30/2013 - 22:43 | 3516449 ak_khanna
ak_khanna's picture

This depression is likely to continue in the foreseeable future because all the efforts of politicians, government, central banks etc are focused on saving banks instead of targeting job creation which is the only way economy can recover. 

Jobs can be created by initiating the following :

Replace the top management of the too big to fail banks, put the existing ones in prison and charge them with fraud and misrepresentation. Break the banks into smaller ones so that they are no longer a risk to the whole financial system. Implement the Glass Stegall Act.

Use the reclaimed billions of dollars from the arrested bankers and use them to improve the infrastructure of the country. This would create jobs instantly and the improved infrastructure would give the confidence to the small businessman to hire more people.

Tax the richest 5% of the population heavily as they no longer create jobs in the country but outsource the jobs to the low cost developing nations. Stop completely the funding of election candidates by corporates and rich individuals so that their influence on politicians to make rules beneficial to themselves is clipped.

Stopping speculation and derivatives in commodity markets would reduce their prices substantially which would be beneficial to the majority of the population. This would lead to a better standard of living for the middle class families and they would go out and spend helping the revival of the economy.

But in the real world we can keep on dreaming.

http://www.marketoracle.co.uk/Article35345.html
www.letstalkmoney2012.in

Tue, 04/30/2013 - 22:59 | 3516506 Oldwood
Oldwood's picture

Why do you assume that the wealthy are buying the elections? Have you been bought? Did they buy all of Obama's votes?

Why do you want to force employers to hire American? Why not force Americans to BUY American if you are so set on pushing people around?

Why not force people to stop being stupid?

People in power abuse us because we LET them. Stop buying on credit. Stop voting for free shit. Stop buying shit, especially shit you don't need, from other countries, or from other states for that matter, unless you just want to move. Stop bitching about rich people who were smart enough to figure it out and start bitching at your fellow 99%ers who keep doing stupid self destructive shit.

Wed, 05/01/2013 - 09:15 | 3517378 FeralSerf
FeralSerf's picture

It's Cause and Effect. The Sheep have no choice anymore. They're scientifically conditioned to the max.

Our Master's Voice:

"If we understand the mechanism and motives of the group mind, it is now possible to control and regiment the masses according to our will without them knowing it." -- Edward Bernays

Wed, 05/01/2013 - 01:41 | 3516844 Seer
Seer's picture

Create MOAR jobs so that those who are broke (most) can, what?

Natural capital is where the problem lies.  Really ain't enough to promote growth.  Rearranging the deck chairs will NOT result in changing the sinking ship's destiny nor will it alter the planet.  Go with it or get run over by it (and continue to wonder why the fuck all the "great" ideas are never adopted).

Wed, 05/01/2013 - 04:32 | 3516970 The Second Rule
The Second Rule's picture

Unfortunately, I agree. I think we are on a collision course with the iceberg of reality and nothing can stop that now. I like his idealistic notions, but only as a bedtime story. The morning will be be cold and dark.

Tue, 04/30/2013 - 22:40 | 3516450 beercandad
beercandad's picture

The band played on ........

Tue, 04/30/2013 - 22:57 | 3516507 augmister
augmister's picture

Guns - out of stock

Ammo - out of stock

Gold - out of stock

Silver - out of stock

Food -

Fuel -

 

Progress!

 

Tue, 04/30/2013 - 23:07 | 3516540 are we there yet
are we there yet's picture

honest price discovery - out

honest statistics -out

Wed, 05/01/2013 - 00:37 | 3516791 Dapper Dan
Dapper Dan's picture

Price descovery indeed.

High-speed traders are exploiting a loophole at the Chicago Mercantile Exchange - @WSJbreakingnews

26 mins ago from twitter.com/WSJbreakingnews by editor

 

Notice they are not calling them HFT any longer,

Tue, 04/30/2013 - 23:08 | 3516548 freewolf7
freewolf7's picture

GMO food - check

Wed, 05/01/2013 - 00:16 | 3516738 RockyRacoon
RockyRacoon's picture

...and to top it all off:

A bill has been introduced in the House of Representatives which seeks to immediately change the composition of the cent, nickel, dime, and quarter to steel.

Wed, 05/01/2013 - 01:07 | 3516813 Cobra
Cobra's picture

Read the "Trillion Dollar Coin" article while I was over there, and I have to ask... Printing $500 and $1000 FRNs circa 1930... Would that be like printing $100,000 bills now? At least the Platinum $1,000,000,000,000.00 coin would be worth something. (24 catalytic converters)

Wed, 05/01/2013 - 02:06 | 3516868 John_Coltrane
John_Coltrane's picture

Wow, that might improve the sales propects for US steel.  Nah, I think they are still going BK.

Wed, 05/01/2013 - 04:06 | 3516953 CompassionateFascist
CompassionateFascist's picture

we told them we wanted Hard Money, and they responded

Wed, 05/01/2013 - 04:38 | 3516976 The Second Rule
The Second Rule's picture

B2: Short some more of that e-Gold for ole papa bear wouldja Jamie?
Dimon: You got it Ben.
B2: Couple hundred tons ought to do it.
Dimon: Yes sir. Couple hundred coming right up.
B2: Fucking plebes...(both chuckle)

Tue, 04/30/2013 - 22:44 | 3516457 reader2010
reader2010's picture

It's only the prelude that is required for the next world war. 

Tue, 04/30/2013 - 22:44 | 3516458 nick howdy
nick howdy's picture

Look it's not all that bad...Since everyone is interdependently dependent on one another ..We all get to die together..

Since nuclear weapon annihilation has been ruled a complete atrocity and I would agree, then we have to to do this another way...I know starvation seems cruel but it's the only way we can keep things going as is...

I'm sure all you peasants will understand..It's for your own good..

Tue, 04/30/2013 - 23:35 | 3516626 nick howdy
nick howdy's picture

Holy shit..Since most of you seem to understand what I just said....That just means we are in some big fucking trouble...

Wed, 05/01/2013 - 00:05 | 3516715 spine001
spine001's picture

You haven't read "Hot Zone" have you? Written by a real life bioweapons scientist repented. He went to live in the mountains far away from people. They don't need to starve us...

Until next time,

Engineer

Wed, 05/01/2013 - 04:40 | 3516981 The Second Rule
The Second Rule's picture

I've read it and Preston wasn't a bioweaponeer. Gave ya a junk for posting that bullshit.

Wed, 05/01/2013 - 04:40 | 3516983 The Second Rule
The Second Rule's picture

"You may have thought it tragic..."

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

Tue, 04/30/2013 - 22:47 | 3516464 williambanzai7
williambanzai7's picture

The American Great Depression 2.0 involves Zoloft, Lexapro and Prosac.

Tue, 04/30/2013 - 22:50 | 3516482 SHRAGS
SHRAGS's picture

Soma 2.0, Huxley was right.

Tue, 04/30/2013 - 23:20 | 3516577 Black Swan 9
Black Swan 9's picture

Yes..

“There will be in the next generation or so a pharmacological method of making people love their servitude and producing dictatorship without tears, so to speak, producing a kind of painless concentration camp for entire societies so that people will in fact have their liberties taken away from them but will rather enjoy it.”

? Aldous Huxley
(Brave New World)

Wed, 05/01/2013 - 00:02 | 3516705 SHRAGS
SHRAGS's picture

See also Aldous Huxley - The Ultimate Revolution the Scientific Dictators  (1962) torrent.  Note the youtube version does NOT have the Q&A.

As a an interesting aside, listen very carefully, particularly to the second track, the Q&A about 10 minutes in where he talks about the Elites in society being "undomesticated" (referencing Charles Darwin "The Next Million Years"), not having been subject to the same conditioning as the rest of society.  In essence, in his view, the elites are still "wild type".  This would explain much psychopathic behaviour we see from the elites towards the rest of us.

Wed, 05/01/2013 - 07:22 | 3516984 The Second Rule
The Second Rule's picture

Jane Goodall's hot monkey love notwithstanding, if you look at primate behavior, be it gorilla, baboon, or chimpanzee, you have to admit these are some nasty fucking creatures with some nasty habits, like ripping the face off territorial intruders and even each other. As Terrence McKenna said, It isn't that we humans differ from our primate ancestors, it's that we exemplify them in the fullest.

Wed, 05/01/2013 - 00:06 | 3516717 delacroix
delacroix's picture

THX1138

Tue, 04/30/2013 - 22:55 | 3516503 IridiumRebel
IridiumRebel's picture

...and Honey Boo Boo!

Tue, 04/30/2013 - 23:11 | 3516551 mayhem_korner
mayhem_korner's picture

TThe American Great Depression 2.0 involves Zoloft, Lexapro and Prosac.

 

Sadly, once the economy freezes up and those things become unavailable, mass psychosis will be terminal for many.  A "friend of mine" who happened to be prescribed SSRIs told me he...er she...maxed out the prescription and simply stored about 200 tablets, as well as an equivalent of Xanax.  My "friend" figures it might just be a life-saver in the coming zombie barter economy.

Wed, 05/01/2013 - 04:58 | 3516987 The Second Rule
The Second Rule's picture

I know people who are hooked on these satanic drugs including the newest round of mind-altering pharmaceuticals, the NRI's (know what those are?) and the anti-psychotics like Seroquel. I asked one person whether she could stop taking the drug. She just looked at me and said, "Not unless I were willing to commit suicide." Scary. I hope there's a special  place in hell, one of the 14 icy, razor-blade hells cause I hear they're worse, for big Pharma.

There's a natural, homeopathic remedy though: https://www.youtube.com/watch?v=pW9ziL0qKA8

Tue, 04/30/2013 - 23:10 | 3516558 freewolf7
freewolf7's picture

5HTP after the pharmacies are looted.

Tue, 04/30/2013 - 23:20 | 3516591 Black Swan 9
Black Swan 9's picture

5-HTP, GABA & L-Theanine (WholeFoods)

Tue, 04/30/2013 - 23:39 | 3516642 nick howdy
nick howdy's picture

It's what's needed to calmly get the rabble into the camps..Too much crying and sadness in WWII ..Now everything is fixed. The people too..We've solved the problem!

Tue, 04/30/2013 - 23:54 | 3516691 Scro
Scro's picture

Are those bankers?

Tue, 04/30/2013 - 22:49 | 3516473 lolmao500
lolmao500's picture

France has also a big ass welfare system... most of these people don't have a job... they are babies factories. For every baby you have, you get something like 5000 euros a year +...2 babies... 10 000 euros... + free house... I can't remember every little detail, but it's crazy.

Tue, 04/30/2013 - 23:44 | 3516658 nick howdy
nick howdy's picture

Oh silly..the problem is not having babies...Babies are beautiful..The problem is having babies in the contest of this system..Which is ...Death...

Tue, 04/30/2013 - 22:50 | 3516485 lolmao500
lolmao500's picture

The unemployment in Spain is insane... yet they have not even reached the bottom of the barrel... Same thing for Greece...

This nightmare will go on as long as the people will support pro-Euro and pro-banks parties... they'll have to figure it out for themselves because the MSM will sure as hell not tell them that's the real problem... and when your only concern is SURVIVAL... you don't usually have time to think for yourself about things like that...

People will have to die en masse for things to change... and when it does, it'll change real fast... and the result will be unexpected... hopefully we don't relive the 30s... with people supporting fascists/communists dictatorships... Europeans are statists and love their government but there's a fucking limit.

Wed, 05/01/2013 - 00:29 | 3516777 Totentänzerlied
Totentänzerlied's picture

Last time they "figured it out for themselves," World War II happened.

Wed, 05/01/2013 - 01:43 | 3516847 Freddie
Freddie's picture

War is just how the European bankster families cash in.  They make billions screwing the populace.  Just as things get real bad - they have a war.  In the war, they take it all and cover up the theft with war. 

The loser has to pay their banks billions.  This has been going on for at least 300 years in Europe including the US Civil War.  Millions to tens of milliosn are dead but they got even richer and more powerful.

Wed, 05/01/2013 - 06:29 | 3517050 goldenbuddha454
goldenbuddha454's picture

And the Swiss have stayed out of all the wars and their currency is one of the strongest as a result of not having to dump endless amounts of money into the futility of war.

Tue, 04/30/2013 - 22:57 | 3516497 IridiumRebel
IridiumRebel's picture

#17 pisses me off. Don't. Fuck. With. Children. 

Wed, 05/01/2013 - 05:07 | 3516990 The Second Rule
The Second Rule's picture

The core of Satanism is child sacrifice. That's how I know we're living in a Satanic system.

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

 

Tue, 04/30/2013 - 22:54 | 3516498 Mandel Bot
Mandel Bot's picture

We all see it coming, but are helpless to do anything but try to save ourselves.

What happened to the old pitchfork and blazing torches crowd?

I have a nice .30 cal pitchfork for sale.

Wed, 05/01/2013 - 01:48 | 3516720 freewolf7
freewolf7's picture

We been hypmotized.

Tue, 04/30/2013 - 23:10 | 3516513 RaceToTheBottom
RaceToTheBottom's picture

The quote the most influential financial movie ever made, Caddyshack:

 

"I don't think the heavy stuff is going to come down for quite a while".....

Tue, 04/30/2013 - 23:33 | 3516630 andrewp111
andrewp111's picture

When did the groundhog say that?

Tue, 04/30/2013 - 23:02 | 3516514 lolmao500
lolmao500's picture

 

#10 In the Netherlands, consumer debt is now up to about 250 percent of available income.

But eh...AAA rating bitchez!

Tue, 04/30/2013 - 23:04 | 3516519 Atomizer
Atomizer's picture

The Modern World-System

Global Institutions and Inequality

 

Good evening fuck sticks. We have the rights to continue educating by surrendering many video’s without $$ compensation. You’re the one who will be found out as the fraud. Core/ Periphery /Semi- Periphery labor states.

 

Consequently, you’ll be uncovered for your failed central planning activities. You can run, bullshit, but never hide.

Tue, 04/30/2013 - 23:06 | 3516523 european child
european child's picture

It will happen sooner than everybody expects. Actually, the more I think of it, all this remind me of Yugoslavia in 1980's before the war. The same happened there. State distroyed middle class savings by money printing. Banks misused clients savings. Hyperprinting of money occured early in crisis but horrible inflation picked up some 5-7 years later (during war).  Then, alternative currencies (D-Mark, Dollar) came as only valuable assets (also any durable and eatable or interchangable commodity like flour, gold, chocolate...). The funny thing was that massive money printing was organized and dispersed through all big banks - who all have dealers outside banks to buy all kind of commodities and alternative currencies with fiat money.

History repeats itself, as usual. 

Tue, 04/30/2013 - 23:03 | 3516524 mayhem_korner
mayhem_korner's picture

 

 

From www.usdebtclock.org

US Federal Debt = $16.9T

State Debt = $1.2T

Local Debt = $1.8T

Personal Debt = $15.9T

Unfunded Liabilities = $123T

Conclusion = I cannot acquire gold fast enough.

Wed, 05/01/2013 - 00:16 | 3516735 yogibear
yogibear's picture

Soon $17 trillion, onward to $20 trillion.

I thought the politicians and banksters wanted to remove the debt colock from the internet.

USA! USA! USA!

It's screwed! It's screwed! It's screwed!

Guns and ammo people.

Wed, 05/01/2013 - 04:15 | 3516957 CompassionateFascist
CompassionateFascist's picture

No, there's still around $5 Trillion in debt paper at the mortagage agencies that Shalom Ben has yet to monetize....real debt at Fed Gubmint level alone is c. $22 Trillion. 

Tue, 04/30/2013 - 23:04 | 3516525 mayhem_korner
mayhem_korner's picture

<dupe...sorry>

Tue, 04/30/2013 - 23:04 | 3516527 Misean
Misean's picture

And the sign that it is right around the corner here?

Boston.

(And the propaganda ministries SILENCE about the tragedy in Texas).

Wed, 05/01/2013 - 01:51 | 3516852 Freddie
Freddie's picture

Texas? Do some research.  That texas fertilizer company had a big team of lawyers suing Monsanto.  Monsanto is very well politically connected.  Think a more evil version of Archer Daniels Midland.   Fertilizer plants don't just blow up.  There is supposedly a connection to Blackwater under their new name.  America has corporate paramilitaries running around now.

Wed, 05/01/2013 - 05:23 | 3517000 The Second Rule
The Second Rule's picture

That's rather chilling, but it has the ring of truth.

Tue, 04/30/2013 - 23:06 | 3516534 Cyclerider
Cyclerider's picture

Invest in fiddles.  Looks like a lot of people will be playing them.

Tue, 04/30/2013 - 23:13 | 3516564 Stuck on Zero
Stuck on Zero's picture

What happens when the European economy crashes and 50 million muslim immigrants feel slighted? 

 

Wed, 05/01/2013 - 02:20 | 3516603 freewolf7
freewolf7's picture

What happens when the American economy crashes,

and 300 million people can't get Budweiser, NetFlix, and McDonald's.

Oh, I'm sorry. Did I break your concentration?

 

Wed, 05/01/2013 - 01:59 | 3516863 Freddie
Freddie's picture

Maybe the Europeans will wake up by then.  Western Europe may need a little help from the Poles, Czechs and other non islamified Europe to eject the invaders.   The Poles have done it before and are quite good at it.

Amerika?  Is filled with idiots brainwashed by TV and Hollywood.

Tue, 04/30/2013 - 23:13 | 3516566 Eahudimac
Eahudimac's picture

Here in the land of the fiat and home of the brave new world order, I anxiously await the day I wake up and global markets will be in freefall. That's when the fun begins. The takers who depend on handouts for their survival will be the first to riot. These will be the ones in the FEMA camps (in they are lucky). Once they are contained, next to go into the camps will be the students, university professors and other government dependant workers. That leaves the rest of us. It will be up to us to separate the wheat from the chaff and find out where people put their loyalties. If our police and military have any honor or morals left, this could be over quickly. Unfortunately, I think the ones who would turn their guns on citizens way out number the ones who would not. Where it goes form there is not so good. I hope I am wrong about that, but I do not have much reason to believe they would stand down if the order to shoot citizens was given. Look at what happened in Boston. That is just a precursor of things to come. 

Tue, 04/30/2013 - 23:19 | 3516587 10mm
10mm's picture

Well Eahudimac,you have a point.Because i work with the fuckin shit heads who will OBEY WITHOUT HESITATION.They could not THINK past their fuckin nose.Me,im bailing.

Wed, 05/01/2013 - 01:04 | 3516811 Duke Dog
Duke Dog's picture

FJ - thanks for posting that link. Simply more evidence the sociopaths are firmly in control.

Wed, 05/01/2013 - 10:51 | 3517819 Chaos_Theory
Chaos_Theory's picture

The first target would be the security state (DHS, FBI, Fed Marshals, specific mil units) against the majority of the (unarmed day-to-day in the CONUS) military to ensure they can't gear up to stop it and protect the citizens. 

Tue, 04/30/2013 - 23:17 | 3516573 10mm
10mm's picture

Im waaaaaaating.

Tue, 04/30/2013 - 23:16 | 3516574 Diablo
Diablo's picture

This post brought to you by Lakshman Achuthan.

 

Tue, 04/30/2013 - 23:19 | 3516575 Future Jim
Future Jim's picture

If we print we are finished - if we stop printing, we are finished.

I call BS. This is a false dilemma. There are more than two choices.

There are a plethora of default strategies. In the US, the federal debt is illegitimate anyway.

There are many ways to fix entitlements. Here is just one.

There is no shortage of solutions. Ther is only a shortage of balls.

Wed, 05/01/2013 - 06:29 | 3517051 Non Passaran
Non Passaran's picture

The shortage is guaranteed to continue, that's why the dilemma is more real than it should be.

Tue, 04/30/2013 - 23:18 | 3516579 Jungle Jim
Jungle Jim's picture

All I know is, between 2010 and late 2012, I bought a lot of (physical) gold, and silver, which was *supposed* to save me. But I might just about as well have bought an equal amount of stainless steel plumbing washers. In fact I might have been better off. For sure I'd have done better to just stay in (physical) cash.

Wed, 05/01/2013 - 02:23 | 3516883 freewolf7
freewolf7's picture

You're actually in great shape.

Tue, 04/30/2013 - 23:18 | 3516583 q99x2
q99x2's picture

Wonder why the next depression didn't start in IceLand? Hahahahahaha.

They jailed their banksters that's why.

Will the US be just as stupid? I don't know things are changing at a rapid clip here and unless the traitors, treasonous politicians and banksters that fund them physically attack in a big way there's reason to believe that a chance to do as IceLand did exists. Might require secession first. Currently I rate the status as cluster F'k in Washington but improving.

 

Tue, 04/30/2013 - 23:22 | 3516601 Future Jim
Future Jim's picture

If you have evidence that DC is improving, then tell us your evidence!

Tue, 04/30/2013 - 23:31 | 3516623 AgentScruffy
AgentScruffy's picture

No improvement, which = situation worsening. (Report from here in the Belly of the Beast: Washington, D.C. )

Tue, 04/30/2013 - 23:29 | 3516594 lolmao500
lolmao500's picture

In other news... the propaganda continues...

Report in Syria: Suspected chemical substance dropped from planes

2 killed, 20 injured after latest attack by regime aircraft in which bags containing 'strange substances' dropped in Idlib

The London-based Al-Quds Al-Arabi newspaper published statements by a Lebanese source claiming that Hezbollah is prepared for any military development. According to the source, this is in light of the meeting between Russian Deputy Foreign Minister Mikhail Bogdanov and Hezbollah chief Hassan Nasrallah, in which the two coordinated their stances regarding the support of Damascus. 

Acording to the report, sources in Lebanon believe that a war will break out within six weeks, involving Lebanon, Syria and possibly, Iran.

 

http://www.ynetnews.com/articles/0,7340,L-4374213,00.html

With all that's going on in the middle-east, chances are... something big will kick off this summer... good thing Ben won't be at Jackson hole to answer questions...

While China is being an arrogant fuck, as always...

http://www.indianexpress.com/news/china-incursion-pla-ramps-up-confronta...

China ramps up incursion confrontation, puts up another tent in Ladakh

While they say this :

Third army flag meeting between India/China has failed PLA demands India dismantle security structures.

China reportedly also tells India to remove troops from the camp they setup next to the location of the Chinese temp camp.

China is pushing it...

The statists are going nuts...

http://www.thedailybeast.com/articles/2013/04/30/memo-to-the-south-go-ah...

Memo to the South: Go Ahead, Secede Already!

China supplies Burmese rebels with somewhat high tech gear...

http://www.dvb.no/news/china-supplies-wa-rebels-with-armed-helicopters-r...

China supplies Wa rebels with armed helicopters: report

Obama to send arms to terrorists in Syria... (which he's really been doing for at least a year now...)

http://ransquawk.com/headlines/us-president-obama-said-to-be-preparing-t...

US President Obama said to be preparing to send arms to Syrian rebels, according to Washington Post

NKorea playing the ransom game...

http://english.yonhapnews.co.kr/national/2013/04/30/54/0301000000AEN2013... 

Seoul seeking quick return of remaining Kaesong personnel: official

The official said members of the Kaesong Industrial District Management Committee (KIDMAC) are in the process of requesting detailed claims made by the North in regards to unpaid wages, corporate taxes and communication service charges. It is estimated that the North is probably asking for around US$80 million, including $72 million in wages.

While the Pentagon is being treasonous...

http://www.bloomberg.com/news/2013-04-29/pentagon-using-china-satellite-...

Pentagon Using China Satellite for U.S.-Africa Command

Tue, 04/30/2013 - 23:55 | 3516692 W74
W74's picture

Just in case anyone missed it: "The London-based Al-Quds Al-Arabi newspaper"

Tue, 04/30/2013 - 23:59 | 3516695 lolmao500
lolmao500's picture

Somehow in London, they allow extremist newspapers to publish...

Wed, 05/01/2013 - 06:29 | 3517046 Non Passaran
Non Passaran's picture

For now the extremists are still allowing British non-extremists to publish their papers.

Tue, 04/30/2013 - 23:21 | 3516597 Jack Burton
Jack Burton's picture

Europe could benefit by agressive open borders policies. A vast influx of new younger workers from Africa, Middle East and Asia could boost GDP and bring in the trained workers business is desperate to hire but the local populations can't provide.

With an expanding population of hard working immigrants, the entire business sector would explode with new business. All immigrants need housing, cars, consumer electronics, medical care, financial services etc. etc. Business will be working flat out to provide for this vast new market.

This kills two birds with one stone. The spector of falling populations that threatens to plung Europe into a new dark age acan be righted quickly with say 100 million initial immigrants from Africa and the Middle East. Then an oper borders program designed to get an additional 25 million a year spread out from Norway down to Spain. The constant population growth is good for business, good for demographics and good for the new multi cultural Europe which will be forced to end it's isolation and accept the need to be a land of immigrants. The USA has open borders, and that is why our economy is booming while Europe struggles.

The solution is simple, immigration. No need for a recession or depression. New workers bring prosperity. Europe is going to have to pry open those borders and accept the hard working people of Africa and the Middle East.

Tue, 04/30/2013 - 23:26 | 3516608 Future Jim
Future Jim's picture

Looks like MDB has competition.

Tue, 04/30/2013 - 23:54 | 3516690 W74
W74's picture

Sarc off?

Wed, 05/01/2013 - 00:01 | 3516704 Jack Burton
Jack Burton's picture

Sorry Sarc ON!  But this argument is classic Neo-Liberal. Immigration and open bordes are classic Neo-Liberal policy.

Wed, 05/01/2013 - 00:13 | 3516731 IridiumRebel
IridiumRebel's picture

I thought you'd been hacked....

Wed, 05/01/2013 - 00:22 | 3516745 Professorlocknload
Professorlocknload's picture

But you may have something in that immigration proposal. I mean those Middle Easterners and North Africans are very industrious folks. Especially in the field of IED's and car bombs and such. Imagine the broken windows throughout Europe?!

s/ off.

Yup, it's a going to be a good 'ern.

Wed, 05/01/2013 - 00:36 | 3516787 Arthur
Arthur's picture

Have you visited the vast slums of Paris recently  Jackie boy?  Ain't pretty and mostly NA migrants.

Wed, 05/01/2013 - 01:40 | 3516829 Floodmaster
Floodmaster's picture

 slums of Paris ?????

Le prix moyen du m2 à Paris est a 8 410 € ...

1m² = 10.764ft² average Paris cost per square foot  =  781 euros !!! a 1300 sq feet condo/flat cost more than 1 million euros or $1,3 million usd...

Wed, 05/01/2013 - 02:05 | 3516871 GoldIsMoney
GoldIsMoney's picture

That shows you never have been in Paris. Yes ther are Slums they are call the Banlieues. And guess what it does not matter how high the price is if the government has to pay. People go into cities for a better life and that's often the case but many to not get rich in cities and they are the looters which driver criminality. Expecially Banlieues are known and feared for there criminals. So come over and walt the streets of Paris and then walk the proper streets of Paris by night and you will learn a lot....

Wed, 05/01/2013 - 06:34 | 3517053 Acet
Acet's picture

It's a shame that what really makes a difference to people is not GDP, it's GDP per-capita. The problem we have now is that GDP per capita is already decresasing and growth in inequality means that for the overwelming majority of people (the 99%) their share of GDP is going down even faster than average GDP per-capita. Also we have no lack in Production, what we lack is Consumption.

Your plan wouldn't boost GDP per-capita, nor would it address the problem of inequality of distribution of wealth. Consumption wouldn't go up (since most people would still not have enough money to spend more) and all that additional Productivity would go to waste while those extra people would still need eating and clothing (and would thus consume basic resources but little else).

In the end your plan might boost the wealth of the 1% for a little while, but it would just accelerate the collapse.

EDIT: Just saw the SARC comment. My argument still stands against such a plan.

Tue, 04/30/2013 - 23:30 | 3516614 Yen Cross
Yen Cross's picture

     Here's a good piece. Swan Says Australia Will Remain in Deficit Longer Than Forecast - Bloomberg

  So much for China saving the day.

Tue, 04/30/2013 - 23:35 | 3516633 ebworthen
ebworthen's picture

Does this mean I shouldn't expatriate to Germany?

God I love the beer and the beer gardens there.

Deutschmarks!  C'mon Deutschland!

Tue, 04/30/2013 - 23:40 | 3516650 phat ho
phat ho's picture

c'mon black 7.... oh screw it! I'm moving to an intentional community

Tue, 04/30/2013 - 23:55 | 3516687 W74
W74's picture

Depression?  But in nominal terms they're having "GROWTH" 

Only in Keyneslandia.

Wed, 05/01/2013 - 00:00 | 3516700 Son of Loki
Son of Loki's picture
Arizona lawmakers pass bill making silver, gold legal tender(Reuters)

 

http://news.yahoo.com/arizona-lawmakers-pass-bill-making-silver-gold-leg...

 

 

"It'll now be lots easier for folks there to pay for things --cars, doctors fees, hospital fees, houses, etc -- with gold or silver  bars or coins," my CPA says.

 

How cool is that !

Wed, 05/01/2013 - 00:30 | 3516779 Professorlocknload
Professorlocknload's picture

  There are many other benefits to being an AZ citizen, as well.

 

"Arizona has passed "Constitutional Carry." That means anyone who can legally own/ purchase a firearm and is 21 or older can carry it concealed without a permit."

 

http://www.handgunlaw.us/states/arizona.pdf

Wed, 05/01/2013 - 00:11 | 3516721 Yen Cross
Wed, 05/01/2013 - 00:25 | 3516758 yogibear
yogibear's picture

"We expect this week's meeting to support our view that no QE3 tapering is likely until year-end and that the risk is for more, not less, easing."

The US Federal Reserve goes full retard....

Full throttle to $100 plus billion/month.

If $85 billion/month didn't work we have to do more which didn't work.

Not enough inflation, Bernanke and fed says let's work to get $8/gal gasoline and $7.00 loaves of bread.

 


Wed, 05/01/2013 - 00:13 | 3516730 cherry picker
cherry picker's picture

I don't see North America escaping this disease either.  It is unecessary.

It is not only governments and banks, it is us too.  How many of us have sold our souls to mortgage a McMansion we really don't need, a four by four suv to drive on a perfectly good freeway?  A pool no one swims in?

When I was young, I built my own home.  Worked every evening and weekends for a year.  The stuff I couldn't do, I hired trades people to do.  Funny how much money can be saved that way.  We don't like to excert ourselves.  That is proved by people not willing to work in fields anymore.  I did, work in fields, picking potatoes, beans, peas, cucumbers and more.  Today, that is beneath us.

We have ourselves to blame as much as anyone and those in debt cannot quit a job or move because the shackles are heavy and strong and so freedom is lost.

Wed, 05/01/2013 - 00:29 | 3516773 Clowns on Acid
Clowns on Acid's picture

Europe will print. It's the last hope of the global bankstas. PMs break out, 3 months time inflation begins to take off, asswipes soon realize that inflation is not a good thing.

Game begins in earnest. China gets angry, Japan gets defensive and nationalistic... ME gets hot. Lotsa to look forward to in 2013.

Wed, 05/01/2013 - 00:43 | 3516795 balz
balz's picture

To print, they need common debt. It will probably happen at some point, but they need to suffer a lot before it does. Then, and only then, the pressure will shift to the US.

Wed, 05/01/2013 - 01:02 | 3516807 Clowns on Acid
Clowns on Acid's picture

balz - Appreciate your comments. Common debt? That was the old rules. Rules change. The Fed has printed, BOJ has printed. Europe will print.

Wed, 05/01/2013 - 06:08 | 3517032 Non Passaran
Non Passaran's picture

They don't need no common debt.
Italy's bonds have been doing great despite them getting more and more hopeless. They can go to public debt to GDP ratio of 150%, no problem!
Mario's got them covered! Details can be discussed at one of future EU summits...

Wed, 05/01/2013 - 00:34 | 3516783 q99x2
q99x2's picture

You guys. You have to change your perspective at how you look at this. Take me for instance. I haven't worked in 15 years. I go to college part time, jog, date all on a modest budget provided in part from the proceeds of the past successes of human prosperity. In Europe many are waking up to the fact that they no longer have to work and have decided to enjoy life on a modest budget. Party is a good word. Beach is a good word. Music movies and camping all good words now that no one has to work. And to keep things going the central banks have decided to keep printing money for everyone. They have so much money that they are handing it out in Afgahnistan the US Europe Japan and so on. Never before has there been so much prosperity to pass around. My only regret is that really good LSD is not available as it was during the last era of sex, drugs and rock n roll. 

Wed, 05/01/2013 - 04:19 | 3516960 Non Passaran
Non Passaran's picture

Haha that is just awesome.
Thanks to you and those like you, my investment thesis (unsurprisingly that is "keep stacking, bitchez") is guaranteed to work.

Wed, 05/01/2013 - 11:35 | 3518069 nofluer
nofluer's picture

He's an amateur. Didn't even mention couch surfing or dumpster diving... and if you pick your targets you can accumulate the dregs of some really fine booze.

Wed, 05/01/2013 - 00:36 | 3516789 gwar5
gwar5's picture

Alas, we're already in a Depression in the USA. Those warning of a coming US Depression might parse the US fake data a little better and nail it. Thanks to Shadowstats this is continuously done for US economic data and it indicates that, in real terms, we have already been in an economic Depression for some time.  

 

Nonetheless, the really shitty part, as the above article is pointing out, is that there are many more shoes to drop. Yes, we are indeed going to get fucking monkey hammered for years and years. That's why there are respected out there saying the we are going to be totally destroyed, there will be revolutions, and society will totally transformed before it is over.  This is just the good part of the Depression.  

 

8 Reasons Why the USA is Already in a Depression:  http://www.shadowstats.com/alternate_data

1) -12% drop in GDP since 2008, real terms

2) Negative GDP every year since 2006, real terms

3) -2% GDP 2012, real terms

4) 23% real unemployment, alternative data, including people who have given up looking

5) 8% real inflation

6) 30% devaluation of USD since 2008   http://www.shadowstats.com/inflation_calculator?amount1=100&y1=2008&m1=1...

7) Record numbers on food stamps

8) Record numbers receiving public assistance

 

(Classic definition of a Depression is a drop of 10% of GDP, and/or long term consecutive quarters of contraction.)

 

Wed, 05/01/2013 - 00:57 | 3516799 Aurora Ex Machina
Aurora Ex Machina's picture

Ahh, this is so ironic.

Europe gets massive unemployment, we understand: the REAL issue is that in a modern economy even making plastic nonsense shit, if you judge the economy by plastic toys, THERE'S ALWAYS SOME-ONE POORER THAN YOU. Hint: mechanisation is supposed to free you, not make it worse.

In the USA, massive unemployment is sequestered to the decaying inner cities where you put all your black workers. But not anymore, it's spreading with the meth and so forth all over. Riddle me this ~ Europeans may riot (justifiably) and they may moan (understandably) but they don't make their communities a shit hole when they do, and the crime rates are totally different. The quantifier you're all missing is organic. And, gladly, despite your massive campaign against organic natural connections, they still exist.

The USA has had an aggressive campaign to break ALL organic connections between humans, and has attempted to replace them with faux desire / Disney / trade bonds. Every instance of interaction is a "commercial opportunity".

Seriously. Your society is broken, and fuck you. Even with the tanks and all the killing. Wake the fuck up. Oh, and those tanks? The army doesn't even want them.[Source - and the most important part of that dialogue is someone spending $35k to get a pro version in there. And yes, we can track you, boring bastards. ]

Hint: Sociopathic smiles (and I missed the grab of it ~ but if you're smiling so WIDE Mr ECB Drago, you should expect the real predators to start taking notice) when the situation is still so broken... 

Bottom line. "Let the monkeys sort it out". You're reaching the end of that tether and the smiles really don't equate to solutions. We cull cattle, and the problem is: the fittest and smartest and most emotionally engaged are NOT those at the top. Endgame. And sorry, any promises you might have had from extra-planar representatives are now void.

 

 

Seriously: you've had three years, and you've done nothing with it. We'll weep for you, but we expected more. Goodnight, homo "sapiens".

Wed, 05/01/2013 - 06:42 | 3517060 Ghordius
Ghordius's picture

"The USA has had an aggressive campaign to break ALL organic connections between humans, and has attempted to replace them with faux desire / Disney / trade bonds. Every instance of interaction is a "commercial opportunity"."

yes, but this both a commercial and a cultural "journey". on one side the commercial, profit-oriented emphasis on the consumer, best seen in Bush's appeal to get out and shop 'till you drop, instead of the citizen and on the other side a genuine break from "Old America", the place where people went to church, had a quite authoritarian mindset, had a strong sense of community with their neighbours, and believed in family and social values

"commercial" values are typical of a "trader's mindset" and aren't that bad, if you look at them close up. interestingly, Islam has a strong emphasis on some of them. the only problem I see is when they are the only values that count, and totally vanquish all conservative and equalitarian needs

Wed, 05/01/2013 - 01:51 | 3516855 Floodmaster
Floodmaster's picture

Europe have a generational Ponzi scheme, the elderly constitute half of the government spending, about $1.6 trillion of a $3.3 trillion total. Europe's young are doomed.

Wed, 05/01/2013 - 02:01 | 3516864 GoldIsMoney
GoldIsMoney's picture

There's one sure sign that we are doing terrible wrong.

The deficits are soaring and the tries to steal even more get more and more desparate.

The fiction one can print oneself out of misery, is the ground of all this craziness.

Instead of giving markets a chance to let the healing begin, markets are fought wherever they could be found. The tax burden everywhere is high and should get even higher if it goes as the Greens want it. The unproductives are getting more and more and they do drive parties. That means the spongers decise what the host animal has to do. That's the sad fact. But it's not the EU alone. The same signs can be found everywhere in the US. 

It's just a question who will win the race into the abyss. I would not dare a bet, and it does not matter in the end who will "win". The other will follow short thereafter. 

And still they do the same silly things which have driven us into the catastrophe. That the hallmark for maximum stupidity. And if there is not lack of somethings than that was not is lacking is stupdiity and it get more absurd by the day.

Wed, 05/01/2013 - 02:05 | 3516870 The Heart
The Heart's picture

"Pay close attention to what is happening over there, because it is coming here too."

Indeed, one of the great reasons to be here, is for the fine edumacation that never ends. Big gratitude for the truth that flows here like a natural waterfall.

This is just wrong.

http://www.wnd.com/2013/04/russia-delivers-new-al-qaida-warning-to-u-s/

Qui bono?

http://www.middleeastmonitor.com/news/middle-east/5799-netanyahu-aide-bo...

Wed, 05/01/2013 - 02:09 | 3516872 TheObsoleteMan
TheObsoleteMan's picture

So now you know the real reason why the gubmint wants our guns: When the bottom drops out, their lives will be in danger. They will declare Marshal Law and lock down major cities {especially Washington, where you will be shot on sight for violating curfew}. Laugh if you will, but it is coming. All those double containers in storage are there for a reason. Their last card to play will be an attack on either North Korea or Iran, maybe both. WW3 is all they have left to play at that point, the end of the road for can-kicking.

Wed, 05/01/2013 - 02:56 | 3516907 bunnyswanson
bunnyswanson's picture

I actually fear that the homeland will be attacked and the reason will be blamed on N. Korea when, in fact, it's the govt shaking things up, getting things moving along.  The bb player who took a visit does my imagination wonders when I think of what could aspire. 

This is some kind of a game now. you know that, don't you.  Anyone who tries to change this will jus tdisappear.  Disappearance of the middle class is more than just a phrase.  It's a human's worst nightmare, this is.  They are coming for the guns and that will be when it breaks into holy hell.  It's hard to comprehent how this has been allowed to evolve.  Is there duress in the eyes of politicians or $ signs?  I cannot decide. 

Thank you ZH for being here and seeing it as it is, substantiating  what I sensed all along, predatory lending on a massive scale.

Wed, 05/01/2013 - 05:37 | 3517012 The Second Rule
The Second Rule's picture

I think people choose to believe the government has a plan because that's more comforting than to think it's all just chaos. Maybe there is the shadow of an evil hand at work, but I guarantee you it's NOT the government. They're as clueless, if not more so, than any of us.

Wed, 05/01/2013 - 02:57 | 3516910 22winmag
22winmag's picture

I'm laughing. "They" don't stand a chance against "us". Any attempt at a state of Martial Law in America would be met with a firestorm of lead from free people with guns.

 

If this situation plays out, the military command will be forced to finally do it's job and slap the handcuffs on their treasonous commander in Chief. If they don't they'll have to deal with a rifle behind every blade of grass, and believe me, they don't wanna do that.

Wed, 05/01/2013 - 04:33 | 3516972 CompassionateFascist
CompassionateFascist's picture

When push comes to shove, most people - including gun-owners - will do whatever the Regime tells them to do. At first, no more than 5% will fight back. That Single Spark may - or may not - be sufficient to Start a Prarie Fire. We'll see. 

Wed, 05/01/2013 - 02:44 | 3516898 dunce
dunce's picture

Number 21; Drudge reported large declines in beer sales in several large Euro-zone countries. People who cut back on beer are in real economic pain.

Wed, 05/01/2013 - 03:01 | 3516913 Zero-risk bias
Zero-risk bias's picture

Ironic that alchohol is a depressant, and yet without it many are depressed.

Still, i'd rather drink no beer than the shit that qualifies for beer these days.

Good times!

Wed, 05/01/2013 - 03:54 | 3516938 Supernova Born
Supernova Born's picture

Vodka's popularity among the present and future cirrhotics is pretty close to the sad truth of it.

Maximum ethanol at minimum cost.

Wed, 05/01/2013 - 09:26 | 3517428 VelvetHog
VelvetHog's picture

Genesee.  12 bucks.  30 cans.  That's what I's talking 'bout!  YUM!

Wed, 05/01/2013 - 09:27 | 3517437 VelvetHog
VelvetHog's picture

I've been forced to cut back to 16 cans per day myself.

Wed, 05/01/2013 - 03:01 | 3516914 22winmag
22winmag's picture

Raise your hand if you think the clowns in Congress and the coffee-colored tin-pot dictator in the White House would last more than two seconds against the American people in a Martial Law/FEMA Camp/American Insurgency type of scenario.

 

Those of you who raised your hands, go downstairs and comfort the women and children. There are men among us who have work to do... a rifle behind every blade of grass. 

Wed, 05/01/2013 - 04:37 | 3516980 CompassionateFascist
CompassionateFascist's picture

Unfortunately, my rifle does not fit behind a blade of grass. And - assuming such a thing ever existed - there is no longer any "American People". When the Jews took down our immigration laws and borders, they put a definite end to that. More than half the critters who live in the 'Kwa are fatally dependant on the Gubmint for raw survival. They, and many others, will Obey to the bitter end. FreeFor can win...but the struggle will be long and ferocious and few of us will be alive at the end. 

Wed, 05/01/2013 - 03:06 | 3516915 The Second Rule
The Second Rule's picture

I know I'm going to come off as some kind of jingoistic xenophobe, which I'm not, but I know when I talk about stopping immigration I must sound like that. Anyway, we have got to stop immigration and STOP IT NOW. Europe is going to rue the day they threw open their borders in the interest of persuing economic "growth." And we here in the US will also do some serious rue-ing if we don't stop the H1B visa program and close the borders. But what do I know? I'm sure the pols in Washington have it all figured out.

Wed, 05/01/2013 - 09:40 | 3517502 FeralSerf
FeralSerf's picture

Who's this "we" you are talking about? I don't recall ever being asked if I want the H1B visa program.

If you're one of the "we" that unilaterally and undemocratically decides these things, you're also one of the Flock Owners' tools, not a friend of us livestock.

Wed, 05/01/2013 - 13:24 | 3518667 lolman
lolman's picture

I dont think anyone will call you xenophobe here

 

Multi-Culturalism was a tool used to destroy the social forces that would have expelled the bankers to Zioland

Wed, 05/01/2013 - 04:14 | 3516946 NuYawkFrankie
NuYawkFrankie's picture

All together now:

 

Here we go gathering nuts in May, nuts in May, nuts in May,

Here we go gathering nuts in May, on a cold and frosty morning...

 

Wed, 05/01/2013 - 04:03 | 3516949 luckylongshot
luckylongshot's picture

Well if a depression has begun and if history repeats itself then, assuming Milton Friedman was right about who caused the last one, the banksters are purely to blame. And guesss what? they can afford to pay all the debt everywhere and still be rich. So who in politics has the balls to take them on and make them pay? To date in the US Ron Paul and in Europe Beppe Grillo...mmm we are in trouble!

Wed, 05/01/2013 - 04:05 | 3516952 elwu
elwu's picture

Don't howl about the unemployment rates. In 2005, it was 12% - in Germany.

Now, look where it went from there: 6,7%

Why it did this?

Because Germany made a complete overhaul of her economy, structures and especially the social security system.

If the GIPSIIFs (finally) do the same, they will also start to see decreasing unemployment.

If they don't, they go to hell, rightfully so.

Wed, 05/01/2013 - 05:27 | 3517006 Peter Pan
Peter Pan's picture

Well let's see where Germany goes to from here.

Germany has never fully paid off its past debts and was also lucky enough to receive a big bag of cash under the Marshall Plan.

The so called assistance it gave Greece in recent years was funnelled straight to its own banks and its companies for years was winning big military and telecommunications contracts in Greece by paying bribes. On top of all that its companies have closed subsidiaries in Greece to ensure employment was plentiful back home.

Truly Germany is a great example for the rest of Europe.

Wed, 05/01/2013 - 05:41 | 3517014 The Second Rule
The Second Rule's picture

Germany has never fully paid off its past debts...

Precisely. the debts were forgiven. Which is pretty much what we need. A global jubilee. All debts go to zero and start over. It's either that or WW III. Choose.

Wed, 05/01/2013 - 05:50 | 3517018 Sandmann
Sandmann's picture

The Commercial Banks are the ones getting in the way as they did after WW1. In 1947 they were not in control because they feared Stalin might take over Europe. Since Communism collapsed they have been triumphalist and pushed the system to the point of destruction. Only when Politics takes control will banks be forced to eat the crap they have piled up.

It is unlikely any of the current politicians are up to the job

Wed, 05/01/2013 - 06:34 | 3517048 The Second Rule
The Second Rule's picture

Helmut Creutz, an economist who analyzed Bundesbank documents, calculated that 40% of all GDP transactions go to paying interest! And this holds true for Europe as it does for the US. Not sure about Asia.  I don't have that data but it probably holds true for Asia as well.

40 fucking percent. Which goes straight to the banksters.

Wed, 05/01/2013 - 09:46 | 3517517 FeralSerf
FeralSerf's picture

Well, they ARE God's Chosen People.

Wed, 05/01/2013 - 07:16 | 3517075 Ghordius
Ghordius's picture

Peter Pan, WTF are you talking about? elwu makes a quite good comment about Germany in 2005, you reply with 1945? You do realize that 50 years have passed, and then another 8 until today? What's next? Something like "British Army burned down the White House in 1812" or "America provoked Spain, trashed it's fleet and grabbed Cuba, the Philippines and established a sphere of military and commercial influence on Latin America in 1905"?

and how does the assistance you are talking about really differ from the Marshall plan? are you even remotely aware what the Marshall Plan really entailed for Germany?

lastly, show me who should be the "great example for the rest of Europe", then you (and I suspect your country) don't qualify, imho

how about the peoples of europe passing on the chance of following a "great example", for a while?

-----

and I thought it was finally only fodder for humour when John Cleese starred in the hilarious Fawlty Towers episode "The Germans", where he famously could not stop "mentioning the war". that was 1975, btw, bloody 38 years ago

Wed, 05/01/2013 - 05:05 | 3516989 Colonial Intent
Colonial Intent's picture

My son said to me the other day, "dad i'm considering a career in organised crime"

So i asked him, "government or corporate?"

Wed, 05/01/2013 - 05:49 | 3517016 muleskinner
muleskinner's picture

When John Deere and Caterpillar are at 24 and 28, it will be a recession.  When they are at 3 and 3.50, it will be a depression.  When Citibank falls from 48 to less than 4 and then reverse splits 10 for 1, you've got lipstick on a pig.  It all looks good on paper.

What could be better than to vacation in Spain and be there all of the time to boot?  Work is for people who can't fish. 

 

Do NOT follow this link or you will be banned from the site!