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Marc Faber: "Something Will Break Very Badly"

Tyler Durden's picture





 

During an interview with The Globe and Mail, 'Gloom, Boom, and Doom's Marc Faber unleashed some awful truthiness about gold "I buy gold every month", real estate "bubble territory", and the likelihood of a crash in smoke-and-mirrors-like asset markets.

Q: Is it a good time to buy gold?

Faber: Nobody knows whether it’s a good time to buy gold or not…as I have repeatedly said in my reports, I buy gold every month and on the recent decline I bought more at $1,400 and I have an order at $1,300 and one at $1,200 and one at $1,100 an ounce. But they were not filled, just the $1,400.

 

I will never sell my gold, as I repeatedly told people. .... My maximum allocation to gold at present time is 25 per cent of assets.”

Q: Mr. Faber, you have indicated you believe there will be a market crash this summer. Can you tell us what might precede such an event?

Faber: “What was the trigger of the ‘87 crash when markets fell 21 per cent in one day? What was the trigger of the Nasdaq crash in 2000? What was the trigger of Japanese crash of 1989? What was trigger of 2007 crash that brought global stocks down 50 per cent?

 

We don’t know these things ahead of time, but something will always move markets up and something will always move them down.

 

I would guess at the present time, given markets from the 2009 lows have in many cases increased by as much as 100 per cent, that they are no longer very cheap. .... Something could come along, geopolitically or otherwise. I would be very careful being overweight equities.

 

"In the 40 years I’ve been working as an economist and investor, I have never seen such a disconnect between the asset market and the economic reality... Asset markets are in the sky and the economy of the ordinary people is in the dumps, where their real incomes adjusted for inflation are going down and asset markets are going up...

 

Something will break very bad."

 


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Fri, 05/10/2013 - 17:36 | Link to Comment traderjoe
traderjoe's picture

Fuck you Federal Reserve et all!

Fri, 05/10/2013 - 18:44 | Link to Comment GVB
GVB's picture

You know, I don't want things to break apart, but the thing is: when you just know things will eventually break apart, then let it come down NOW. For me, this waiting and observing wrong policies are the most frustrating of it all. Bet more people share my opinion. Just let the diesel say BOOM. 

Fri, 05/10/2013 - 19:11 | Link to Comment cynicalskeptic
cynicalskeptic's picture

The problem is that most would prefer to kick the can as far as possible - dreading the melt-down that will only get worse the longer it takes to happen.

Sat, 05/11/2013 - 04:04 | Link to Comment Peter Pan
Peter Pan's picture

If things break down at the present time, the people who will really suffer will be those with inflated balance sheets. The rest do not have any real balance sheets to speak of.

Those that are already scraping the bottom of the barrel will at least have the hope that the turmoil follwoing the collpase might produce some real change and some release from unpayable debt.

 

Sat, 05/11/2013 - 04:14 | Link to Comment potlatch
potlatch's picture

that is exactly what those of usat the bottom called "hope and change".  I have no idea what anyone else thought it ever could mean.  Higher stock prices?  Higher real estate prices? 

 

There is reason the slogan was hope AND change.  The asset holders want hope without change.  We poor working people hope the system collapses and changes into something a bit less tilted toward being exciting for people with Harvard MBA's.  Because really, fuck them.

Sat, 05/11/2013 - 04:56 | Link to Comment jbvtme
jbvtme's picture

now if walter white was the fed chairman...

Sat, 05/11/2013 - 11:41 | Link to Comment The Black Bishop
The Black Bishop's picture

Just a difference in name I think. Seems the Bernank's customers are as addicted and strung out as those of Walter White. Breaking Bad indeed.

Sat, 05/11/2013 - 05:11 | Link to Comment joak
joak's picture

But at some point, private debt is on the personal balance sheet. What will do the average people with a mortgage on an overpriced property ?

This is a question I'm wondering for long : in case of a currency collapse, or a financial meltdown, what will happen to loans ? In case of hyperinflation, what happens ? If someone has those answers, I'm eager to know (let's say, when Zimbabwe, to take a recent exemple, experinced hyperinflation, what happened to people having loans ?). I'm thinking of buying a property, and I wonder what's best : invest my savings in it, or take a loan and convert savings in gold and silver ?

Sat, 05/11/2013 - 05:19 | Link to Comment Sandmann
Sandmann's picture

I have a different question. Since modern construction is cheap and uses cheap components such as forced-wood and houses are unlikely to be as durable as those in the past. How many 30 year mortgages can a dwelling carry before someone has to bite the bullet and demolish the property before the mortgage is paid off; losing both home and capital ?

Sat, 05/18/2013 - 11:29 | Link to Comment Jonas Parker
Jonas Parker's picture

 Read Adam Fergusson's book "When Money Dies". All will be made clear to you.

Fri, 05/10/2013 - 19:11 | Link to Comment Whalley World
Whalley World's picture

be careful what you wish for things could

Get Very Bad

Fri, 05/10/2013 - 19:18 | Link to Comment GVB
GVB's picture

True, but I have plan B, you know what ECB & FED say about plan B ;)

i.e. No plan B

Sat, 05/11/2013 - 00:39 | Link to Comment Lets Buy The Dip
Lets Buy The Dip's picture

I have a plan A, do not listen to faber and keep buying up this market, He is right about 0.1% of the time. Check out the market weekly chart on SPX here => BULLS KEEP KICKING BEARS IN THE NUT SACK OF UNDERSIDE SCROTUM...OUCH!  LOL

Sat, 05/11/2013 - 07:04 | Link to Comment GVB
GVB's picture

OK, good. But. It's not that I adore people like faber and others. I do appreciate them for being around, I just prefer to not participate in a virtual world of computer trading where human interaction is a crime. I will stick to my point that "it" just doesn' look good at this point in time. No doom & gloom fan at all. Just being a realist. Also. Since nobody - to this point in time - can indicate the trigger(s) being responsible for 2008 and all other crashes, why would I want to be into all of this phony mess. No thanks. Do appreciate your point of view, however. It's (still) a free country ;)

Sat, 05/11/2013 - 07:28 | Link to Comment mayhem_korner
mayhem_korner's picture

He is right about 0.1% of the time.

 

Apart from this being blatantly untrue, Cap'n Troll, let's revisit the wisdom of Mr. N.N. Taleb:

It's not the frequency with which you are right that matters, but the cumulative effect of your losses.

If Edward Smith and Max Pruss were here, they would tell you the same.  But they were on the wrong side of one of those 0.1% events.

Sat, 05/11/2013 - 10:35 | Link to Comment OpTwoMistic
OpTwoMistic's picture

How much is Faber worth?  You?

Sat, 05/11/2013 - 13:01 | Link to Comment LongOfTooth
LongOfTooth's picture

I'm not disagreeing with you but imo we should keep in mind that asking how much Faber is worth is probably too general because that would include his income from his newletter.  I know of newsletter writers who aren't worth a damn as an investor but they can write one hell of a letter and that's how they make their money.

 

 

Sat, 05/11/2013 - 02:45 | Link to Comment Wile-E-Coyote
Wile-E-Coyote's picture

The US government has a plan "B" buy lots and lots of bullets and body bags.

Sat, 05/11/2013 - 07:29 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

I think instead of body bags its backhoes, bulldozers, and cement-mixers full of formaldehyde.

Sat, 05/11/2013 - 01:28 | Link to Comment vulcanraven
vulcanraven's picture

Agreed.

Watching the play-by-play of the collapse has been exhausting.

Sat, 05/11/2013 - 03:40 | Link to Comment Lore
Lore's picture

The most teeth-gnashingly frustrating part is that the factors and interactions and causal relationships are UNDERSTOOD. Good people have been warning about this for GENERATIONS. The reactions and repercussions are PREDICTABLE.  The cycle is ARTIFICIAL.  THIS WHOLE MESS IS TOTALLY UNNECESSARY AND AVOIDABLE.

Sat, 05/11/2013 - 09:20 | Link to Comment ugmug
ugmug's picture

Where are all the 60's hippies, 70's druggies and 80's prancers, singing "The Fed Is Just Pissing In The Wind"...............

Sat, 05/11/2013 - 02:39 | Link to Comment Bokkenrijder
Bokkenrijder's picture

"...and so forth and so on..."

Fri, 05/10/2013 - 17:39 | Link to Comment denverdolomte
denverdolomte's picture

Thanks for the foresight. I was blind now I can see the truth. This is about as humorous as the announcement that Bill Gates and Warren Buffet are going to give 95% of their wealth to philanthropy, meaning to their own foundations.

 

edit :: I am speaking tongue in cheek. yes shit really did go full retard and one never goes full retard.

Fri, 05/10/2013 - 17:42 | Link to Comment freewolf7
freewolf7's picture

"Something could come along, geopolitically or otherwise."

Well, that narrows it down.

Fri, 05/10/2013 - 17:51 | Link to Comment denverdolomte
denverdolomte's picture

Lol Right? Someone should send him a copy of Philosophiæ Naturalis Principia Mathematica by Sir Isaac Newton, take a picture of the moment when he gets that "Mind ='s Blown" look, to the thought of to every action there is an equal and adverse reaction. 

Fri, 05/10/2013 - 23:12 | Link to Comment OutLookingIn
OutLookingIn's picture

"For every action there is an opposite and equal reaction."

"adverse" ??? unfavourable or harmful. Maybe you meant "averse" ??? unwilling.

In either case you are wrong. Trying to sound intelligent and being intelligent is plain to see!

When a fool opens their mouth and articulates, or attempts to, their stature is confirmed. 

Sat, 05/11/2013 - 03:42 | Link to Comment Lore
Lore's picture

Being more constructive would reflect better on you.

Fri, 05/10/2013 - 18:01 | Link to Comment Awakened Sheeple
Awakened Sheeple's picture

Faber does us a service by not specifically pointing out tail risks..

Fri, 05/10/2013 - 18:19 | Link to Comment Spigot
Spigot's picture

I agree w/ you. It is not the 'event' so much as the fact the markets are so E'ffed up and fragile. Could end up being a McDonalds customer in China decides he does not want a burger, which leads to a chain reaction of cash flow shortfall, etc. People will pick 1 thing and say "that was it" and "that's what did it". Not the case at all but it makes a grand story.

There are a number of power blocks in competition throughout the world. For this "Universal QE" to work all of them have to do the same thing, relatively together. Prisoners Dilema kind of thing ... at some point someone breaks trust and then all hell breaks loose...

Someone, somewhere is contemplating their "get away" plan...

Fri, 05/10/2013 - 18:29 | Link to Comment Awakened Sheeple
Awakened Sheeple's picture

Correct! Someone posted something a few days back about ZH being to blame for the rally in the markets because they helped create a legion of shorts for bulls to squeeze. And maybe to some degree that's true. But I have no doubt that ZH has helped the central planners, by alerting them to just how fragile the financial system really is. Bernake spoke about it today about how much more the Fed (cocksuckerz!) are doing to identify systemic market issues.

Noone knows for sure how the financial system will fail, but fail it will. We would not be here if we all didn't believe that. But how, noone knows. And i think Faber is spot on, because geopolitical events are probably the most unpredictable.

Fri, 05/10/2013 - 18:47 | Link to Comment Spigot
Spigot's picture

"exogenous"

Sat, 05/11/2013 - 03:50 | Link to Comment Lore
Lore's picture

ZH, a market mover?  Riight. Next someone will call alternative trading websites a threat to national security and.... Never mind.

"How, no-one knows." <-- Yeah. And like most other major events in recent years, there will be at least a dozen conflicting and overlapping and questionable narratives, only one or two of which will be approved, padded and neatly sanitized for posterity.

Fri, 05/10/2013 - 18:31 | Link to Comment kaiserhoff
kaiserhoff's picture

Well said.

This has been going on so long, it's easy to forget the inherent nature of ponzies.  It takes more and more effort just to keep the fraud going.  It's not so much that "something will break" as I and many others have said.  It's more that everything will break down.  That's the nature of the beast when you try to repeal market forces.

Fri, 05/10/2013 - 18:50 | Link to Comment Spigot
Spigot's picture

No human beings on earth can "manage" reality, it is an illusion to think so.

Fri, 05/10/2013 - 22:40 | Link to Comment Cathartes Aura
Cathartes Aura's picture

truth, especially given that there IS no single reality, merely points of interpretive viewing, varied with each individual's illusion.

 

Fri, 05/10/2013 - 21:05 | Link to Comment Dugald
Dugald's picture

I'm reviewing the situation
Can a fellow be a villain all his life?
All the trials and tribulations!
Better settle down and get myself a wife.
And a wife would cook and sew for me,
And come for me, and go for me,
And go for me, and nag at me,
The fingers, she will wag at me.
 The money she will take from me.
 A misery, she'll make for me...

...I think I'd better think it out again!

Fri, 05/10/2013 - 18:45 | Link to Comment hamstercheese
hamstercheese's picture

Or pony tail risks.

Fri, 05/10/2013 - 18:13 | Link to Comment stocktivity
stocktivity's picture

Blah blah blah....It's all Bullshit!!!

Fri, 05/10/2013 - 19:12 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

The nice thing about the Scientific Method, is that you get to test predictions.  Here's one of his from a year ago:

"Mark Faber speaks of Imminent Market Crash" http://www.youtube.com/watch?v=rKIhIxfPyy4

Mr. "Gloom, Doom & Boom": DEFINE 'IMMINENT'.

Sat, 05/11/2013 - 03:55 | Link to Comment Lore
Lore's picture

Do you sense that Faber is a market timer?  He seems more like a big picture kind of guy.  His thesis takes time to unfold. 

Fri, 05/10/2013 - 17:39 | Link to Comment Pareto
Pareto's picture

If it keeps on rainin, levee's going to break.

When the levee breaks I'll have no place to stay.

Fri, 05/10/2013 - 19:52 | Link to Comment willwork4food
willwork4food's picture

You should put that to music..

Fri, 05/10/2013 - 17:39 | Link to Comment capitallosses
capitallosses's picture

It's only when, not if.

Fri, 05/10/2013 - 19:48 | Link to Comment Debt-Penitent
Debt-Penitent's picture

I can't help it.  Every time I read something from Farber, my mind reads it with his unique dialect.

Sat, 05/11/2013 - 04:06 | Link to Comment Ratscam
Ratscam's picture

the read this hilarious article about him.
you may need google translate.
no bullshit, just simple truth. i love the guy.
http://www.sonntagonline.ch/ressort/menschen/2636/

Fri, 05/10/2013 - 17:40 | Link to Comment francis_sawyer
francis_sawyer's picture

francis_sawyer will go ALL IN 3x LONG stocks with joobux... That'll be the clincher...

Fri, 05/10/2013 - 17:44 | Link to Comment akak
akak's picture

Francis, careful of the new ZH anti-racism policy.

I don't suspect that you are going to last out the day if it is enforced.

Fri, 05/10/2013 - 17:56 | Link to Comment dick cheneys ghost
dick cheneys ghost's picture

I just saw that...............that sucks...........Free Speech Francis_Sawyer is one of the main reasons I read ZH................

 

Oh well, Free Speech just got kicked in the nuts.........

Fri, 05/10/2013 - 18:05 | Link to Comment Room 101
Room 101's picture

Oh don't be so niggardly in your views. It's all for the children dontcha know.  

Fri, 05/10/2013 - 18:13 | Link to Comment Temporalist
Fri, 05/10/2013 - 19:19 | Link to Comment nmewn
nmewn's picture

lol...

Basketball Jones:

http://www.youtube.com/watch?v=JIbp5C-5WXM

///////////

What? Thats good shit!

Parody is the essence of understanding. I guess someone missed Tricky Dick scowling, the dude in the front ogling and...its Cheech & Chong.

Get the fuck over yourself.

Sat, 05/11/2013 - 00:29 | Link to Comment francis_sawyer
francis_sawyer's picture

Racist??? WTF???

~~~

Well... Goodbye Zero Hedge... I have my own policy... & that's to NOT participate in a forum that attempts to stifle free speech...

ZH has just jumped the shark... It is now officially as hypocritical as every story it publishes...

f_s

~~~

I need to know... Are "clowns" considered a race?... Is "clowning" a religion?... Maybe from now on, anybody who sees bullshit & hypocrisy, ought to refer to the perpetrators as "clowns"... Or would that be considered derogatory against clowns?...

I can see it now: [Future ZH headlines]

- Israel nukes Damascus... "Oh look ~ those wacky "clowns" are at it again"

- Bernanke announces QE18... "More clownbux bitchez"

- Goldman Sachs sits yet another executive in Treasury... "Gee Whiz ~ yet another case of "clown" nepotism"

- Bilderberg Meets in Davos... "Yet another clown convention"

- Bloomberg calls for ban on [insert ridiculous item here]... "Well ~ It's really tough being the mayor of clownville"

Have fun people... [now that the clown police are out on patrol]...

Sat, 05/11/2013 - 02:27 | Link to Comment MedTechEntrepreneur
MedTechEntrepreneur's picture

Good ridance Jackass..but before you go, IT boy, could you fix a server for Goldstein in accounting?

Sat, 05/11/2013 - 03:32 | Link to Comment francis_sawyer
francis_sawyer's picture

Oh fucking blow me... Have fun on the NEW & IMROVED FIGHT CLUB... WHERE YOU ARE, IN FACT, YOUR KHAKIS...

Sat, 05/11/2013 - 17:46 | Link to Comment optimator
optimator's picture

Any reader on ZH can choose which posts to read or ignore.  (A-Choo!) excuse me.  I didn't chew my food enough at lunch.

Fri, 05/10/2013 - 19:47 | Link to Comment James
James's picture

People misunderstand the "Free Speech" concept.

Yes, for now, you are free to say/think anything you want.

Up to and until you are on some other persons property doing it.

 

Perhaps this will cause us all to maybe look down that proverbial rabbit hole a bit deeper to get to the truth with out maligning innocents.

My first knee-jerk reaction was WTF? But once again ZeroHedge has forced me to think and possibly look w/in myself

Fri, 05/10/2013 - 20:05 | Link to Comment Thisson
Thisson's picture

Free Speech only applies vs the government.  ZH is a private web page.  And even if this were a government forum, there are still exceptions to free speech (e.g. inciting violence is not permitted).

Sat, 05/11/2013 - 03:41 | Link to Comment francis_sawyer
francis_sawyer's picture

"(e.g. inciting violence is not permitted)."

~~~

All future "hang all bankers" comments shall be moderated & the author of the comment shall be banned...

Sat, 05/11/2013 - 15:20 | Link to Comment jerry_theking_lawler
jerry_theking_lawler's picture

exactly...ZH is a private web page....was hoping this would make it a little more 'free'er' than a 'public' web page....

 

been a long time ZH'er, but if the owners of ZH want to start stepping in and being all BLOOMBERG on the users, then I may have to switch to an alternate site. just saying. easy come, easy go.

 

ZH, tread lightly....

Fri, 05/10/2013 - 18:09 | Link to Comment Room 101
Room 101's picture

Anti-racism policy?  Really?  I just read it.  I guess we're going all PC around here.  Pretty soon you won't even be able to utter negative words about benzelbub. You know, it might offend his personhood.  And we wouldn't want that.  And we definitely wouldn't want to use sexually degrading terms when referring to blythe or herr merkel.  

The anti jew comments were getting tiresome.  Like waking up in a dystopic "Elders of the protocols of zionland"  Problem is once you start becoming all PC it'll get to the point where you can't call a spade a spade. In a manner of speaking, of course.

 

Fri, 05/10/2013 - 19:19 | Link to Comment john39
john39's picture

racism? last i checked there was only one human race...  PC is garbage.

Fri, 05/10/2013 - 21:54 | Link to Comment azzhatter
azzhatter's picture

im not worried i hate everyone the same

Fri, 05/10/2013 - 23:07 | Link to Comment SpiceMustFlow
SpiceMustFlow's picture

"I'm not racist! I'm a BIGOT!!!"

-Jim Jefferies

Sat, 05/11/2013 - 14:50 | Link to Comment Urban Redneck
Urban Redneck's picture

I'm an equal opportunity bigot.

However, I also believe in the inherent goodness of human nature, and humans in general.  Unfortunately, then I meet actual individual humans... (see first statement above)

Fri, 05/10/2013 - 19:57 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

As someone who utters critiques of said comments, I'll weigh in: they're lazy, largely based on a misunderstanding of the financial world, and it hurts ZH's algo weight. More importantly, it was being used to reduce ZH's impact through very well known methods, to game ZH into being marginalized. ZH is also hosted within a country, and their legal system still effects their content.

Full disclosure: I don't care what your personal beliefs are, and you can type them all you want, but be inventive and know that there are Lions, Tigers and Bears out there who can use them as ammo. Oh, and make them funny.

 

 

I will personally never use the report function, ever. Good satire and humor is based on truth, not some teenage crap that only shows you've not bothered to learn anything. Truth can sometimes be "racist", but only if you're framing it wrong.

 

p.s. As someone who disparages most Religions, I'll expect a lot of reports.

Fri, 05/10/2013 - 20:13 | Link to Comment nmewn
nmewn's picture

"I will personally never use the report function, ever."

Neither will I.

Maybe they are running a test to see how libertarian we are?...just a thought.

Fri, 05/10/2013 - 20:31 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

I'd go with "loss of revenue" as the clearest and most sane reason. Tyler hasn't shown any particular inclination not to publish any dirt he/they can get their hands on. (still wondering at the Jim from Deutsche bank quotation, never did get confirmation on that)

 

Unless it was the Jo...

Fri, 05/10/2013 - 20:46 | Link to Comment SunRise
SunRise's picture

Most Religions?  Which are not in the "most" category and why?

Fri, 05/10/2013 - 20:07 | Link to Comment Thisson
Thisson's picture

Yeah but Francis and his Nazi bullshits tarnish the reputation of this fine establishment by tarring us all as a bunch of lunatic stormfronters.

Fri, 05/10/2013 - 20:15 | Link to Comment dick cheneys ghost
dick cheneys ghost's picture

Why dont we just let you, Thisson, decide what is free speech...............let me know what offends you, and I promise not to comment on it here on these pages.........

 

I await your list...........

Fri, 05/10/2013 - 20:20 | Link to Comment nmewn
nmewn's picture

Confront them then...you have the same freedom of speech they do.

Its a guarantee where to find them, any topic concerning the ME or young men from Massachusetts with ObamaPhones & a lot of free time on their hands ;-)

Sat, 05/11/2013 - 04:00 | Link to Comment francis_sawyer
francis_sawyer's picture

Yeah but Francis and his Nazi bullshits tarnish the reputation of this fine establishment by tarring us all as a bunch of lunatic stormfronters.

~~~

I've repeated many, seriously, countless, times... IT. HAS. NOTHING. TO DO. WITH. RELIGION.

Yet in 3 years... Nobody has successfully made a case for the asymmetric representation of clowns in banking, MSM, political activism, & jurisprudence... There was one heartfelt attempt by a poster... Which, in fact was responsible for bringing 'race' into the picture [because it had to do with NBA stars]... So in fact, somebody else felt the need to go 'racist' in order to justify the clown argument...

More recently... Someone tried to argue that clowns weren't responsible for anything because somewhere along the line they had all 'converted' to 'Luciferianism' [whereby ~ I presume, their 'clown' status & affiliation was effectively jettisoned]...

So this brings up a new issue... On the new, YOU ARE YOUR KHAKIS, 'anti-discrimination' policy, are 'Luciferians' considered a religion?... If so, be careful to criticize all the 'Luciferians' you see out there people... They may become insulted...

Point of Parliamentary Procedure!

http://www.youtube.com/watch?v=ROxvT8KKdFw

Well ~ I for one, am not going to sit here & listen to you... bad mouth... The United States of America!

Sat, 05/11/2013 - 16:18 | Link to Comment MedTechEntrepreneur
MedTechEntrepreneur's picture

Francis--you are pathetic.  See, you like so many others here, only have a historical perspective begining at your birth.  Evidently, they dont teach history at Mouth Breather High, were you went or Devry, where you got your IT certificate.

You keep saying it has nothing to do with religion.  It has EVERYTHING to do with religion.  For most of the last 2000 years, the Jewish people were NOT ALLOWED to engage in manufacturing, farming,  the christian trade guilds and had to make a living how ever they could. The church forbid money lending for its members, but since people still needed lending, the Jews did it along with petty merchandising.

So, the church, like or not, forced Jews into these markets.  And since life has been about survival for the Jews, the Jewish people believe in education.  They have always tended to make a living with their brain, rather than brawn.  Dont like it now? Blame your fore-fathers.

Why the asymmetry?  There you have it. 2000 years of ugly oppression-murder at the hands of the church. (oh and there is a body count to go with that history of millions of dead Jews)

It isnt that difficult to understand...is it.

Fri, 05/10/2013 - 22:54 | Link to Comment Dyhana
Dyhana's picture

Next they will take away the down votes. You know, don't want to damage anyone's self esteem.

Fri, 05/10/2013 - 18:02 | Link to Comment Banjo
Banjo's picture

Just to be clear Jews are not a race. It is a religion. There are black Jews from africa, equally there Arab and Persian Jews as well as russian American and all other nations and races.

 

jewish is a religion not a race.

 

 

 

Fri, 05/10/2013 - 18:07 | Link to Comment fuu
fuu's picture

"Racism, to include any religious affiliation, will not be tolerated in ANY FORM on this site, including the disparagment of people in the comments section. "

Just to be clear.

Fri, 05/10/2013 - 18:12 | Link to Comment Room 101
Room 101's picture

Yes fellow poster.  Only PC comments that don't offend your oh so sensitive personhood. 

Fri, 05/10/2013 - 18:22 | Link to Comment fuu
fuu's picture

Actually I have long stood for anyone saying whatever they want around here, but don't let that stop you from lashing out.

Fri, 05/10/2013 - 18:34 | Link to Comment kaiserhoff
kaiserhoff's picture

Not to worry, Fuu.

I suspect that is some sort of "cover your ass" legal boiler plate needed in response to the usual bitching and moaning.

A ZH without free speech would be just like the Jew York Media, useless at best.

Fri, 05/10/2013 - 18:40 | Link to Comment Room 101
Room 101's picture

That or the Tylers are trying to clean up the website.  Launching an IPO maybe?  If so, I wonder who the underwriter would be....hmmmmm. 

Fri, 05/10/2013 - 19:20 | Link to Comment john39
john39's picture

without free speech... this place would not be the same.

Fri, 05/10/2013 - 19:27 | Link to Comment nmewn
nmewn's picture

Agreed.

Fri, 05/10/2013 - 19:56 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

See above.

 

Francis is largely innocent and doesn't contribute to the issue; I'd suspect he'll be fine. There's probably going to be a couple of weeks of mass-spamming the report function though, the trolls will have fun.

Fri, 05/10/2013 - 20:42 | Link to Comment nmewn
nmewn's picture

Yes, the trolls will have a field day.

But think about it, the Tylers will have to put on a full time staff to sort through them all "fairly" (or just shit can them all). If it was an attempt at the "broken window fallacy" we'll soon find out.

Keynesians are everywhere...fuck em, they're razzzist...lol.

Fri, 05/10/2013 - 23:37 | Link to Comment Room 101
Room 101's picture

Well, once you start with those offensive speech codes, it makes life difficult for all.  So what types of speech are you going to ban?  Discussion of literature like Tom Sawyer?  The term nigger is used throughout the book.  Or is it a violation to merely insinuate that jews are particularly moneygrubbing or some such negative stereotype?

Are we talking strictly racial/religious epithets?  If so, which ones specifically?   Are nigger, spook, jungle bunny, and kaffir  prohibited, while negro is OK?  What about code words like moneychanger, joo, ethnic or simply those people?  

This new policy really does open a can of worms. I think the Tylers should reconsider it.  

Sat, 05/11/2013 - 10:24 | Link to Comment francis_sawyer
francis_sawyer's picture

@fuu

~~~

"Racism, to include any religious affiliation, will not be tolerated in ANY FORM on this site, including the disparagment of people in the comments section."

Well that's odd... I've been on record many times as telling kito, for example, that he was alright by me, yet have been called a 'NAZI' numerous times by dozens of posters... [Including above ~ somebody just before that called me a "jackass", which I don't dispute, so I won't report that disparagement to the 'thought police committee']...

Sat, 05/11/2013 - 10:44 | Link to Comment fuu
fuu's picture

I didn't write the thing, nor do I agree with it.

Sat, 05/11/2013 - 11:06 | Link to Comment francis_sawyer
francis_sawyer's picture

@fuu

~~~

I know you didn't write it [& I know you to be against that sort of thing in principle]... I wasn't trying to pin the statement on YOU... But my comment was a ways down the thread from yours & I needed to repeat the reference point due to the analog nature of blog comments...

~~~ANYWAY, FOR FUN & FUTURE REFERENCE~~~ [from Wiki]

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

Jumping the shark is an idiom created by Jon Hein that was used to describe the moment in the evolution of a television show when it begins a decline in quality that is beyond recovery, which is usually a particular scene, episode, or aspect of a show in which the writers use some type of "gimmick" in a desperate attempt to keep viewers' interest.

In its initial usage, it referred to the point in a television program's history when the program had outlived its freshness and viewers had begun to feel that the show's writers were out of new ideas, often after great effort was made to revive interest in the show by the writers, producers, or network.[1][2][3]

The usage of "jump the shark" has subsequently broadened beyond television, indicating the moment when a brand, design, or creative effort's evolution loses the essential qualities that initially defined its success and declines, ultimately, into irrelevance.

~~~END~~~

So, with that in mind... What else do we have planned for this weekend now that we've discovered that 'shorting paper gold' causes gold BULLION holders to make a mad dash to the window to sell all their bars back to the central banks in exchange for clownbux?...

Sat, 05/11/2013 - 11:08 | Link to Comment fuu
fuu's picture

See something, say something bitchez!

http://www.youtube.com/watch?v=bKSdUTV_sb0

I'm going to weed my plot and play some piano. Then maybe a bike ride and a beer later.

Sat, 05/11/2013 - 11:33 | Link to Comment francis_sawyer
francis_sawyer's picture

NEW THREAD UP ~ I 'got the message' at the re-education camp... So I'm doing my best on that thread to keep the content over there SAFE for human consumption...

Sat, 05/11/2013 - 14:57 | Link to Comment Urban Redneck
Urban Redneck's picture

What is the hierarchy of needs for any business?

 

Fri, 05/10/2013 - 21:08 | Link to Comment kaiserhoff
kaiserhoff's picture

The really sickening thing about this intimidation, and that's all it is, is that it's the same old lefty bigotry that's infected the rest of the media.  There is never a hint that white people have rights, that men have feelings, that working for a living might have some social and moral edge over sitting on your ass and collecting a welfare check.

It's always the same scum who are "sensitive"  meaning they can't be criticized, and the truth can't be told.

Pure hypocrisy and bigotry, the thuggish attempt to harass, intimidate, and ultimately kill free speech.

That's all it is.

Fri, 05/10/2013 - 21:38 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

No, it's about money. GREP my statements to see why. If you want to personally say "I hate black people, they're lazy and stuck in their ghettos", I'm sure you can still do that, and although I think you're wrong (in that you don't see the entire picture, only the parts you want to see to agree with your beliefs), I'm never going to stop you saying it.

Algo / meme abuse is the real issue, however - ok, here's an example. Right wing radio hosts often use the rhetorical device of attaching <target name> to <taboo issue> with a "but did they do that, I'm sure they didn't, but did they deny it?" Glen Beck is a particular abuser of it; and he got called out on it with the Did Glenn Beck Rape And Murder A Young Girl In 1990? meme. It's a version of "when was the last time you stopped beating your wife?"; the problem was, Beck didn't understand the internet.

Beck used to use the technique all the time; until the point where searching for his name brought up page after page of the fake rape / murder accusations, and he learnt that the intarweb is full of Lions, Tigers and Bears and he backed down. When he stopped using it, the meme stopped getting spread to junk his results: now you can read all his (fucking stupid and insane) rants via Google without even seeing the "Did Glen Beck rape and murder a young girl" results. He plays nice, the intarweb plays nice.

There's no intimidation, it's purely to stop people gaming the automatic algo responses. Algos are dumb, and can be gamed: the people who like the internet to be all that it can be don't like you abusing it. That's all. (And they're so radically pro-freedom you wouldn't like them). Don't complain when the same tactics you use are used against you with sharper teeth. Or, even better, learn to know when you're not the smartest bear in the room, and allow those who do know how it works to allow you to keep enjoying the web. The Government and large Corporations are really not aiming for that.

 

Tl;dr

"Free speech". Tyler owns the site, and you're merely a guest. He gets to make the rules, Capitalist style. We might like his rules, and agree with them, but never doubt your place in his food chain. Obey them or scurry off.

 

NomNomNom.

Sat, 05/11/2013 - 05:24 | Link to Comment putaipan
putaipan's picture

but what if i really do hate the british bavarian masonic talmudic babylonian sabaatean jesuit bastards?

it's not like they're a race or anything....

Fri, 05/10/2013 - 18:42 | Link to Comment Room 101
Room 101's picture

I was speaking generically.  It was not focused at you per se. I seek never to offend...it's part of the new kinder, gentler ZH.  

Fri, 05/10/2013 - 22:38 | Link to Comment fuu
fuu's picture

Yeah but 146 days. It's tradition.

Fri, 05/10/2013 - 21:18 | Link to Comment Banjo
Banjo's picture

Racism can't be re-defned by a blog.

If you want to say there will be zero tolerance for religious slander fine or political slander fine don't call religion racism because it's not.

Interesting also how we are allowed to rant about political parties but not religion or race? Our masters know how to control the discussion and thoughts. The safety valve is very well controlled.

Fri, 05/10/2013 - 21:43 | Link to Comment Banjo
Banjo's picture

fuu - you are correct in quoting from the Zerohedge Terms and conditions, I had not read them prior to posting.

  • To protect individuals from viewing material that they disagree with I would suggest an ignore button.

I disagree with much that is posted and from memory don't reacall ever regressing into hate based attacks, however I support individuals able to express themselves no matter how poorly nor how much I might disagree with them.

 

Questions for ZH. Is banking and economics a religious affiliation? keyensiasm? where do we stop is Gold a religion. If someone call me a gold bug do I report it?

 

Fri, 05/10/2013 - 22:34 | Link to Comment fuu
fuu's picture

I think it calls for nuance, responsibility, and accountability.

Sun, 05/12/2013 - 01:03 | Link to Comment Banjo
Banjo's picture

Totally disagree, no central authority or elite academic chamber should arbiter on nuance, responsibility or accountability.

I belive free speech being untrammeled expression of opinion. If you find it uncomfortable make your case and challenge it or don't read it.

 

Sun, 05/12/2013 - 23:02 | Link to Comment fuu
fuu's picture

It's Tyler's place, he got it from Lou.

Fri, 05/10/2013 - 19:02 | Link to Comment StrangerThanFiction
StrangerThanFiction's picture

Actually there is only one human race, homo sapiens regardless of skin color. But there are plenty of homo sapiens' who discriminate against others for just about any reason. The whole gonads and strife thing really gets tiresome after fifty years of life on this planet.

Sat, 05/11/2013 - 00:40 | Link to Comment Anusocracy
Anusocracy's picture

The problem with 'Homo sapiens' is that evolution never has a standard issue.

It is easy to interbreed physically but mentally is a whole other world.

Fri, 05/10/2013 - 23:03 | Link to Comment Diogenes
Diogenes's picture

I believe a Greek philosopher debunked the "Jewish religion" more than 2 thousand years ago. His argument went something like this:

The Jews have no temples, no idols, no altars, they make no sacrifices to the gods. So where is the religion?

Instead they have a meeting place called a synagogue where the central object of veneration is a book. This book contains the writings of their leading historians, sages,  poets, prophets, and kings. Chief among these is Moses, yet even him they account to be a man and not a god.

They consider it their duty to study this book, and they go by it too. All their questions and controversies they refer to their most learned men, who give judgement according to the scriptures.

These are not the actions of ordinary men, but philosophers.

Sat, 05/11/2013 - 06:17 | Link to Comment Disenchanted
Disenchanted's picture

The more I read the more it seems to me that 'Judaism' was/is an economic/business/monetary model/system, designed to infiltrate and cripple competing cultures/peoples, that non-semitic converts have adopted and 'improved' on here in the modern day...it's more that than a religion IMO.

Read about Joseph and his tribe's(before the Exodus and before they became Israelites) economic impact on the Egyptians. It's a primer on what's happening today to the United States(and other countries). I posted the following on another thread the other day:

 

Sometimes the best of intentions can lead to tragic outcomes. In Parshat Vayigash, Joseph has his hands full managing the seven years of catastrophic famine that have followed seven years of prosperity.1 The Egyptian people are starving while Pharaoh has food, having stored much of the harvest during years of plenty. But the people’s ability to buy grain disappears along with their savings. The famine has yet to play out its course, so Joseph begins to collect their possessions for the king: first their livestock, then their land and finally their personhood.2 To avoid death, the Egyptian people become slaves to Pharaoh, foreshadowing the Israelite enslavement in Exodus.

 

Despite our own moral indignation that the price of avoiding starvation is slavery, The Torah does not condemn Joseph for his actions. The commentator Nahum Sarna suggests that the biblical text “shift[s] the onus of responsibility for the fate of the peasants from Joseph to the Egyptians themselves. The peasants initiate the idea of their own enslavement (v. 19) and even express gratitude when it is implemented!”3

 

Sound familiar? We're all Egyptians now...bitchez.

btw quote is from: http://ajws.org/what_we_do/education/publications/dvar_tzedek/5770/vayig...

 

end quoted post.

Oh dear, maybe I'll be banned now.

Sat, 05/11/2013 - 07:54 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

This is a highly inaccurate account.  There is no credible record that says the Egyptian people were starving while the Pharoah had food.  The stored food was made available not just to the people of Egypt, but to those who came from neighboring countries, including Joseph's family from Canaan.  And there is no record that says the Egyptian people became slaves to Pharoah.  There is not even a record that the Israelites, who were in Goshen to the west of the Nile, were enslaved - just that the new Pharoah was concerned that they were becoming "too numerous" and would threaten Egypt's power.  And Joseph and his "tribe" as you call it were Israelites before the Exodus, which is why is why the king (Pharoah) in Exodus 1 says "Look...the Israelites have bcome too numerous for us."

You should do a little more homework.

Sat, 05/11/2013 - 20:32 | Link to Comment Disenchanted
Disenchanted's picture

re: "And Joseph and his "tribe" as you call it were Israelites before the Exodus"

I'll give ya that. But why aren't they known as Canaanites?

 

re: "This is a highly inaccurate account."

Maybe you should alert the American Jewish World Service whom I quoted...

 

Here's a similar account from Hillel.org:

 

Back then, the Children of Israel had it pretty easy.  When famine struck Egypt, ordinary Egyptians surrendered their land and indentured themselves and their descendants as serfs to Pharaoh in exchange for food to survive.  In contrast, Joseph welcomes his father and his estranged brothers from hunger-ravaged Canaan, allowing them to hole themselves up separately in the fertile land of Goshen and to find more than enough sustenance. 

 

@ m_k .... Are you trying to say that the history of Judaism/Israelites as related to us by modern day Jews could be a lot of lies and bullshit?

Sun, 05/12/2013 - 06:14 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

The Canaanites inhabited Canaan before the Israelites returned from Egypt; the Canaanites were enemies of the Israelites, as were the Philistines, Amorites, Hittites, Perizzites, Amalekites, Moabites, etc.  All of these oppressors occupied the land that was ultimately given over to the 12 Israelite tribes.  That is why the Israelites are distinct from the Canaanites.

As for the Hillel.org reference, what makes you think that the writer has the authority of specific knowledge behind it?  Even an uninformed eye can read it as slanted.  I would not extrapolate it to any meaningful generalization.

Sun, 05/12/2013 - 06:38 | Link to Comment Disenchanted
Disenchanted's picture

Thanks for the reply...

In the earlier post you said this:

 

"including Joseph's family from Canaan."

 

I'm assuming you mean this was their origin. Did you mean this as only Joseph's tribe, or all twelve tribes of Israelites? Either one or all twelve tribes could then be properly defined as Canaanites, no?

 

As for extrapolation, I'm quoting modern Jewish sources and you're telling me they're inaccurate, so what else am I to conclude?

I already had my doubts as to the 'truthiness' of the whole "chosen of God" meme. I now find any form of exceptionalism(be it Jewish or American) distasteful, even though I was raised to beLIEve both as an American born 'Christian Zionist.'

Sat, 05/11/2013 - 08:06 | Link to Comment Pope Clement
Pope Clement's picture

@ Diogenes

Other ancient writers would disagree "I believe a Greek philosopher debunked the "Jewish religion" more than 2 thousand years ago"

The Caananite / Phonecian Priest Sanchoniathon circa 7th Century BC equated the semitic god El with the Greek Kronus (Roman Saturn) and further as Cardona points out in God Star v.1 of his multi volume work on Saturn theory "What were the Israelites doing running about the desert with the image of the Saturnian star in their tabernacle? ... Present Jewish and Christian sentments not withstanding, it has long been known that Saturn was the god of the Jews. In more recent years Carl Jung knew very well that Saturn was the star of Israel. Much earlier, Aurelius Augustinius was more explicit when he informed his readers that the ancients considered the planet Saturn as the god of the Jews. Throughout the Middle Ages, the Jews were largely known as the People of Saturn... This belief, however, is much older since the Roman historian Tacitus (c. A.D. 55-117) described the Jews as worshipping the planet Saturn as their god."

Planet Worship Bitchezz

But in the days of old everyone did it.. http://www.maverickscience.com/The%20Saturn%20theory.pdf

 

 

Sat, 05/11/2013 - 04:19 | Link to Comment andrewp111
andrewp111's picture

Jewish is both a religion and a race. Remember, Jewishness is passed down a matralineal line, which means it is carried by Mitochondrial DNA and /or the X-chromosome.  Jews can be any skin color, and any race in addition to Jewish, though.

Sat, 05/11/2013 - 05:07 | Link to Comment Sandmann
Sandmann's picture

So why is it matrilineal ? It wasn't in The Old Testament.

Sat, 05/11/2013 - 16:29 | Link to Comment MedTechEntrepreneur
MedTechEntrepreneur's picture

The faith is determined by the mother.  The "Tribe" by the father. 

Sat, 05/11/2013 - 05:17 | Link to Comment Sandmann
Sandmann's picture

Jews can be any skin color, and any race in addition to Jewish

 

Palestinian Muslims for instance based on DNA matching ?

Sat, 05/11/2013 - 05:55 | Link to Comment Disenchanted
Disenchanted's picture

Banjo said:

 

 

jewish is a religion not a race.

 

So you worship at the Church of Semitism, do you?

Sat, 05/11/2013 - 08:21 | Link to Comment Tompooz
Tompooz's picture

"jewish is a religion not a race."

 

But according to Jewish law, the child of a Jewish mother is Jewish, regardless of beliefs.

Sat, 05/11/2013 - 15:08 | Link to Comment Urban Redneck
Urban Redneck's picture

So what happens if the kid is born in Saudi Arabia (or anywhere else...) where Jewish law has no authority?

Sun, 05/19/2013 - 08:14 | Link to Comment Tompooz
Tompooz's picture

It makes no difference. What I'm saying is that the religion provides the framework for making and maintaining the "race"/nation.

Sun, 05/12/2013 - 00:55 | Link to Comment Banjo
Banjo's picture

so what. I was born "catholic" this is a religion not a race. If i was born Jewish it is a religion not a race.

What are you not understanding? This is a very basic concept.

Fri, 05/10/2013 - 19:38 | Link to Comment Go Tribe
Go Tribe's picture

I saw a bunch a jaws in the lunchroom the other day flapping about islamofascism and Zionism. Thought it a bit racist.

Sat, 05/11/2013 - 05:16 | Link to Comment PeterB
PeterB's picture

Who would of thought that if you rub ZH hard enough you would see the brass. What would the likes of CB or Chumba think? This site was literally born on the ripping uncensored dialogue. Strange times... sad if true.

Sat, 05/11/2013 - 05:17 | Link to Comment PeterB
PeterB's picture

edit been a while

Fri, 05/10/2013 - 17:47 | Link to Comment B2u
B2u's picture

Use margin too,...

Fri, 05/10/2013 - 17:49 | Link to Comment TeamDepends
TeamDepends's picture

Francis, didn't they name a college after this guy?

Fri, 05/10/2013 - 17:56 | Link to Comment TeamDepends
TeamDepends's picture

Mind if we dance with your allocated gold?

Fri, 05/10/2013 - 19:32 | Link to Comment cynicalskeptic
cynicalskeptic's picture

They're doing a lot more than that - they've sold it into slavery, transported it across state and national lines and are pimping it out to as many people who'll pay for it.

Fri, 05/10/2013 - 19:35 | Link to Comment Blano
Blano's picture

May we dance wif yo dates??

Fri, 05/10/2013 - 18:19 | Link to Comment kito
kito's picture

Francis is grandfathered in.........his grandfather is a joo ;)

Fri, 05/10/2013 - 18:28 | Link to Comment nmewn
nmewn's picture

You owe me a new keyboard.

Fri, 05/10/2013 - 18:52 | Link to Comment kito
kito's picture

Safer to get one of the new holographic keyboards :)

Fri, 05/10/2013 - 19:14 | Link to Comment nmewn
nmewn's picture

Too many levels to keep clean ;-)

Fri, 05/10/2013 - 17:41 | Link to Comment Doubleguns
Doubleguns's picture

Or many somethings, one after the other. From EZ across the atlantic right through the Americas and on to the Fareast.

Fri, 05/10/2013 - 17:45 | Link to Comment IridiumRebel
IridiumRebel's picture

yeah yeah yeah......Skynet does not allow this. 
ACCESS DENIED 

Fri, 05/10/2013 - 17:45 | Link to Comment 1835jackson
1835jackson's picture

"In 2008 we had a financial crisis. Next train station stop will be when governments go bust. And I believe in the western world they will all go bust. But before they go bust they will print money, then we go to war and all of us will be doomed. Thank you for your attention. " ~ Marc Faber 2009 NY Mises Institute. 

 

(Applause followed that statement).

Fri, 05/10/2013 - 17:45 | Link to Comment Surrealist
Surrealist's picture

It's life Marc, but not as we know it, not as we know it, not as we know it.

It's life Marc, but not as we know it, not as we know it, Captain!

http://www.youtube.com/watch?v=FCARADb9asE

Fri, 05/10/2013 - 17:45 | Link to Comment Sudden Debt
Sudden Debt's picture

there are 2 kinds of people in the crash.
Those with a descent income and those who do not.
and those with a descent income are those who have a income that is inflation adjusted,

If you're not in the descent class, you're in the fucked up class and you'll suffer.

Fri, 05/10/2013 - 17:47 | Link to Comment capitallosses
capitallosses's picture

Yeh, most incomes are in "descent".

Fri, 05/10/2013 - 18:46 | Link to Comment RaceToTheBottom
RaceToTheBottom's picture

I prefer to have ascent income and be in the ascent class.

Fri, 05/10/2013 - 17:45 | Link to Comment TideFighter
TideFighter's picture

I'm going to East Guatemala (Belize) on Sunday. I added two extra days to look at RE. I read a ZH story last Monday that made me shift into another gear. The 15,000 mark opened up new senses, and the heirachy of things to do have changed. I am in the ZH Zone, thank you Tyler's.   

Fri, 05/10/2013 - 17:56 | Link to Comment New_Meat
New_Meat's picture

Yep, Belize honors property rights, esp. for furrinerz. - Ned

Fri, 05/10/2013 - 18:10 | Link to Comment Canuckistan Al
Canuckistan Al's picture

Went there recently for the same basic reason.

Hope you are young and healthy, or plan to fly home or elsewhere for any kind of meaningful health care, cause you wont find it there.

People are friendly but poor and crime is on the rise big time.

If you are looking for RE there target Placencia or San Ignacio surrounds.

Forget the Cayes...... unless you got a pile of dough.. getting pricey now.

Ultimately the thought of being stuck in the squeeze between Mexico cartels, Guatemalan cartels or Honduran cartels, when TSHTF, and you're clearly a gringo..... discouraged me from futher investigation.

Fri, 05/10/2013 - 19:20 | Link to Comment Ricky Bobby
Ricky Bobby's picture

Also be very careful about Malaria. Once infected you are permanently part of the parasites life cycle.

Fri, 05/10/2013 - 19:53 | Link to Comment New_Meat
New_Meat's picture

Rachel Carson had that solution in her hands, but, well, wtf, they are mostly melatonin-enhanced, so wtf???? - Ned

Sat, 05/11/2013 - 04:11 | Link to Comment Ratscam
Ratscam's picture

try MMS for malaria treatment, the best and fastest way to get rid of it.

Sat, 05/11/2013 - 10:58 | Link to Comment AynRandFan
AynRandFan's picture

We're looking at Texas property.  Prices are a little high though, and the drought is a real bitch.

Fri, 05/10/2013 - 17:46 | Link to Comment THE DORK OF CORK
THE DORK OF CORK's picture

In Ireland  we don't need to adjust for inflation

 

Gross national income per person is down 10,000 euros ~ per person since peak.

Fri, 05/10/2013 - 17:50 | Link to Comment Sudden Debt
Sudden Debt's picture

yeah but you guys have the leprechauns and their gold... in America, all they have is the toothfairy...

Fri, 05/10/2013 - 17:59 | Link to Comment THE DORK OF CORK
THE DORK OF CORK's picture

The Americans are smarter then us me thinks

 

They don't pay off their debt ...........how absurd.

 

Its the fucking money supply.

 

We however are good for it because ....................I will let you into a little secret...............we are as thick as Shit.

 

 

Irish balance on the current account is dramatic stuff (million euro)

Y2008 : -10,169
Y2012 : + 8,090

Depreciation is therefore also becoming dramatic …………
I am not sure how accurate the capital account metrics are – but I imagine the numbers can be gamed very easily.

Anyhow the 2012 capital account is in a worse place then even the crisis (production / consumption) year of 2009.
Y2009 : -1,252
Y2011 : recovery ? – 263
Y2012 : – 1,984

To give you a idea of the scale within these figures – we imported just 1,607 million of road vehicles in 2012.

 

 

A small but very dumb country.

 

Will someone tell people in Ireland there is no final settlement in this world.

Why are we paying back our debt ?.................no let me  - we are fucking corrupt and retarded all in one strange but sad package.

Fri, 05/10/2013 - 18:49 | Link to Comment RaceToTheBottom
RaceToTheBottom's picture

All citizens of Ireland should visit Iceland.  Just to get some ideas.

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