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"It's A Massacre" - Each Day 134 Retail Outlets Close In Italy

Tyler Durden's picture


If anyone is still not convinced that surging stock bourses in Europe are indicative of anything more than central bank liquidity, carry trade allocation and localized asset bubbles, we present a snapshot of what is actually happening on the ground via Italy's Ansa: "It's a massacre," said Confesercenti President Marco Venturi. "Each day 134 shops, restaurants and bars close in recession-hit Italy, retail association Confesercenti said on Wednesday. Confesercenti, which represents small and medium-sized businesses in the retail and tourism sectors, said 224,000 enterprises had closed their shutters since the start of the global economic crisis in 2008.

"Every day five green grocers, four butchers, 42 clothes shops, 43 restaurants and 40 bars and catering business close down".

But who needs commerce when all those newly available day traders can just boot up their E-trade platform and trade their way, along with the trading mascot baby, to untold riches?


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Wed, 06/19/2013 - 08:16 | 3670803 doomandbloom
doomandbloom's picture

in other words...a recovery!

Wed, 06/19/2013 - 08:17 | 3670806 Bobbyrib
Bobbyrib's picture

Agreed, Italy is in a recovery and they don't even know it. Maybe we could send Biden over there to let them know.

Wed, 06/19/2013 - 08:21 | 3670815 Careless Whisper
Careless Whisper's picture

The Careless Whisper News Update & Threadjacking (AHEAD OF MISTER DRUDGE)


California Repeals Freedom Of Information Act; Costs Too Much To Release Info To Public,0,6...

Chinese Firm Buys British Yacht Maker Sunseeker; Follows Purchase By Chinese Of Italian Yacht Maker Ferretti


Wed, 06/19/2013 - 08:27 | 3670830 LawsofPhysics
LawsofPhysics's picture

Chinese elite buying whatever they can ahead of the next collapse.  The people in Brazil are on to these fuckers, should get interesting quick.  My contrarian play is that the "B" in the "BRICs" wants to renegotiate.

Wed, 06/19/2013 - 09:28 | 3671022 kaiserhoff
kaiserhoff's picture

Hell's the problem?

We have that many malls going bust in the States every day.

We're Number One.  USA.

Wed, 06/19/2013 - 11:01 | 3671342 Thorlyx
Thorlyx's picture

you didn't closed that...

Wed, 06/19/2013 - 09:36 | 3671056 justamousesquared
justamousesquared's picture

When the reset comes won't their assets be reset too?

Wanda just bought Sunseeker, when the reset comes how many Chinese sweat shops owners can you fit into one of those. 

Another Chinese company bought Ferranti another yacht company, are they going to melt the polar ice caps and wash everyone away.

Long Boats!!!

Wed, 06/19/2013 - 10:00 | 3671154 Ying-Yang
Ying-Yang's picture

How is that Globalization working out for you multinationals? Topgun Maverick said " I feel the need, the need for GREED."

Large corporations suck because they are people.

This is got to show up in their bottom line as things get worse in many countries.

Wed, 06/19/2013 - 10:21 | 3671227 Smegley Wanxalot
Smegley Wanxalot's picture

BRICS ... soon to be BROKES

Wed, 06/19/2013 - 09:36 | 3671054 Satan
Satan's picture

Ferretti haven't made a profit in years. Their problem is that they build ugly boats that no one wants.Sunseeker made a profit last year only due to two large insurance claims after 2 new builds burnt in the yard ( at separate times). Both builders needed bailouts in the last couple of years.

Ultimately both brands will see production head to China. In Sunseekers case their new owners are more interested in the waterfront real estate that the shipyard occupies...

Wed, 06/19/2013 - 09:46 | 3671087 Ghordius
Ghordius's picture

"Ultimately both brands will see production head to China" I thought Turkey is getting the lion's share of european production. Perini Navi, for example, built the state-of-the-art square-rigged Maltese Falcon superyacht in Tuzla, for example

Wed, 06/19/2013 - 10:45 | 3671304 Satan
Satan's picture

Some yards are moving some production to Turkey, primarily hull and superstructure construction. Oyster yachts are building their 100/125 boats out there now.

With regard to the Falcon, Perini sent out a huge team from La Spezia to handle the more complicated aspects of the build. So although built in Turkey it wasn't built by the Turkish who still have a way to go with regard to advanced yacht building.

Wed, 06/19/2013 - 08:21 | 3670816 francis_sawyer
francis_sawyer's picture

Tutti a spiaggia!

Wed, 06/19/2013 - 08:25 | 3670825 dariomilano
dariomilano's picture

tutti IN spiaggia :)

Wed, 06/19/2013 - 08:35 | 3670842 francis_sawyer
francis_sawyer's picture

alora, ANDIAMO!...

Wed, 06/19/2013 - 09:15 | 3670959 ArgentoFisico
ArgentoFisico's picture

Esatto :D

and with my sunglasses on i confirm: "all knots are coming to the comb" (do you say something like that in english?) .. translation: we're fucked and it's becoming clearer and clearer to everyone. Even africans are going back home...

Wed, 06/19/2013 - 09:37 | 3671065 i-dog
i-dog's picture

English version: "The chickens are coming home to roost".

Wed, 06/19/2013 - 10:09 | 3671191 francis_sawyer
francis_sawyer's picture

Mostro di Scandicci ~ Prendi un viola & taglia chi la gola!...

Wed, 06/19/2013 - 08:28 | 3670831 yogibear
yogibear's picture

Bullish! Buy,buy,buy! Federal Reserve Bots say buy.

Wed, 06/19/2013 - 08:51 | 3670880 Bangin7GramRocks
Bangin7GramRocks's picture

Only so many ways to bend spaghetti.

Wed, 06/19/2013 - 09:29 | 3671024 USisCorrupt
USisCorrupt's picture

You are so right where is the problem?


Don't worry be Happy!

Wed, 06/19/2013 - 08:18 | 3670812 digitlman
digitlman's picture

Green shoots!

Wed, 06/19/2013 - 08:22 | 3670819 GetZeeGold
GetZeeGold's picture



Thank goodness the USA is coping the Euroland miracle plan.

Wed, 06/19/2013 - 09:39 | 3671043 Ghordius
Ghordius's picture

come on, now this is really, really unfair. Euroland miracle plan? This might be how CNBC or other idiotic newscasters might put it, but "austerity" (I prefer balanced budgets - the A-word as already been politicized beyond recognition) is not a miracle plan, it's about facing reality - which btw sucks. And both the USA and Japan are doing the opposite of what - generalizing here - the eurozone is doing, or trying to do

btw, the numbers Confindustria is presenting are horrific. but part of it is also due to demographics and Italy catching up a bit later than others on the same trends of small companies being squeezed out by greater ones. remember the US before WalMart? that thing that happened to the Mom-and-Pop businesses

Wed, 06/19/2013 - 09:45 | 3671100 i-dog
i-dog's picture

I'm curious, Ghordie: How many EZ countries have implemented "balanced budgets", so far? Or are they just "tapering" their deficit spending?

Wed, 06/19/2013 - 10:04 | 3671145 Ghordius
Ghordius's picture

not even one. yet. I wrote "or trying to do", after all. but all this pain that we read of daily here is, after all, because of spending cuts in a deep depressionary environment. all media - including ZH - focuses on the pain, but behind the pain is the spending cut

including - bad example, but nevertheless - that about the Greek national TV - and that is painful, for Greeks. I don't know if you know Brits enough to imagine their reaction to the BBC being shut down

which reminds me that I can never "place" you - my "working assumption" is that you are American and living since ages abroad, mostly in Asia - no need to comment on that ;-)

nope, all across the board the eurozoners are seriously trying to contain spending - there is a lot of BS around that and particularly around the US figures, but I somewhat trust my sources, my data and "my lying eyes"

btw, some of those Italian small businesses closing is because the Italian state is not paying it's bills

Wed, 06/19/2013 - 10:16 | 3671195 i-dog
i-dog's picture


"you are American"

I've told you many times that I'm not. My "working assumption" is that you are Italian, but that also isn't relevant, since we are both well travelled through business (or, in your case, probably 'political interests') and know many cultures and speak a number of languages.

Back on topic: I very much doubt how "seriously" the EZ countries are "trying" to balance their budgets. See my comments about actual objectives in other threads today. Shutting down a TV station is a provocative move rather than a real money-saver.

Wed, 06/19/2013 - 11:11 | 3671264 Ghordius
Ghordius's picture

just pulling your... tail ;-) and missing any hint of Britishness in you, either homegrown or "colonial" or Canadian (my case is... very complicated - let's say I passed some "character-forming" time in Italy)

my definition of trying is "doing their best" - which translates in... well, you might know a few politicians yourself. seen this way, they are trying really, really hard and achieving something, imho - mainly by blocking the sluicegates for those political forces that would prefer to blast them open

I agree with you on Samaras and the Greek TV, but hey, that's their national way to handle a situation like that

Wed, 06/19/2013 - 11:20 | 3671433 Acet
Acet's picture

I'm back in Portugal for vacations and I can tell you that they're not properly trying to control the budget.

Or maybe I should be a bit more clear about it:

  • Excesses when it comes to money the state spends for the public in general are indeed being curtailed. In fact, they're cutting even deeper than that.
  • The excesses that are not being curtailed are those due to enrichement of politicians or their buddies, such as sweetheart Public-Private Initiative contracts that vastly benefit the private companies (where for example the minister that negotiated one of the biggest is now in the board of the private company), state funded Foundations that belong to politicians, gold-plated retirement funds for political appointments, politicians and heads of banks that were bailed-out, number and salary of MPs and their state-paid helper personnel, bailouts of horribly (maybe even criminally) managed banks, hugelly paid politically nominated "consultants" and huge salaries for heads of public companies who are politically nominated and almost always members of a political party.

From what I've been seeing, something very similar is happening in Spain and in Greece. In fact, something similar is happening in the UK only not quite as nakedly, plus the press in the UK is nowhere near as likelly to denounce political abuse.

The austerity is only for the little people, not for the wealthy, politically connected ones.

(I don't have values for Portugal, but for example in the UK in 2012 real incomes fell for everybody but the top 1% - for whom incomes went up 24%)


Wed, 06/19/2013 - 08:22 | 3670817 jesse livermoore
jesse livermoore's picture

its recovery summer

Wed, 06/19/2013 - 10:05 | 3671174 Ghordius
Ghordius's picture

I thought we had that. I prefer to call it "gold shopping season". never seen western gold bugs so depressed, for me it's bullish

Wed, 06/19/2013 - 08:28 | 3670821 mogul rider
mogul rider's picture




gee now the Italy pump starts. Do you guys have any scruples. I can hear it now

"But we're not pumping Italy?" Nice try.

Buy the bottom, Buy the bottom, Buy the bottom


Beat the HFT's, Beat the HFT's


I can hear it now



We all know how that worked....

How's that gold and silver 10,000 target working for ya...


The endless pump in an endless liquidity puke. BTW I'm curious - How many of you dirtbag gold pumpers are left?

Zippo. On to Italy we go

Next your gonna say Biotech, Oil, Natgas are crucial for the recovery..........................

All fracking opponents will be hung on sight...... yup.


It's official what used to be radical and different is now just another CNBS.

Wed, 06/19/2013 - 08:37 | 3670847 Terminus C
Terminus C's picture

I didn't see any "buy Italy" in this article.  I saw, "We're fucked!"

Wed, 06/19/2013 - 08:24 | 3670822 scatterbrains
scatterbrains's picture

Do they have reits over there like SPG?  This would be extremely bullish news..  perhaps an 800% or more gain in the stock price would be expected.


Wed, 06/19/2013 - 08:25 | 3670824 LawsofPhysics
LawsofPhysics's picture

The capital mis-allocation and mal-investment continues, at least until there is a single "owner", of everything.  So long as the dollar is accepted in exchange for real assets anyway.  All by design folks.  The world has become even more centralized, not less, with every fucking "crisis".  The bilderbergs thank you.

For me, another field is under fucking water, thanks to the heavy rains in Tennessee and North Georgia, that's my only real worry right now, these central bankers are hanging themselves, so be it.  All eCONomies are really local folks, now go be productive.

Wed, 06/19/2013 - 08:36 | 3670838 ekm
ekm's picture

Sorry to hear about the field under water. What did you plant there?


Agree with your post in its entirety.

QE is making sure day after day that the dollar is being less and less accepted, if not flat out rejected and that is seen by buldging of reserves, which are rejected dollars IMO.

Wed, 06/19/2013 - 09:05 | 3670925 resurger
resurger's picture

ekm, its rejected in China (At least for the general public) , because once your dollars hit their bank accouts it's immediatly converted to RMB


Wed, 06/19/2013 - 09:10 | 3670941 LawsofPhysics
LawsofPhysics's picture

yes, the chinese and american elite have been on the same page for some time now.  In reality, both are destroying the purchasing power of their fiat as fast as they can.  See my comments regarding Brazil.  We grow sorghum, which is essentially sugarcane (a favorite of brazil).  The "B" in the "BRICs" may be begining to figure this out.  Should get interesting.  Sugarcane prices will very much impact that sorghum price.

Wed, 06/19/2013 - 09:05 | 3670928 LawsofPhysics
LawsofPhysics's picture

The sorghum will be fine.  As for the expensive fertilizer that is washing away (thanks to denitrification-nitrite/ntrate is very water soluble) and equipment that gets stuck in the mud, not so much.  In all fairness sorghum is a C4 plant so it sucks up ammonia pretty quickly.  Testing the local watersheds now.

Wed, 06/19/2013 - 09:29 | 3671012 tarsubil
tarsubil's picture

Hasn't the rain over the last month been crazy? What are you growing? Edit: I see. For fodder?

Wed, 06/19/2013 - 10:19 | 3671222 LawsofPhysics
LawsofPhysics's picture

Oddly enough, much of it is for a craft brewer making a glutin-free beer.

Wed, 06/19/2013 - 16:24 | 3671802 JuliaS
JuliaS's picture

US sustains its consumption by externalizing debts via reserve currency. It affects the price of oil, food and in the cost of living. The pertrodollar used to be a perfect debt exporting mechanism, since the demand for oil, as well as the ability to pay for it grew annually, so would the dollar trade volume. More greens rushed off shore, never coming back for redemption. Instead we would receive countless goods and services from the foreigners in need of black gold.

Then, some time in the last decade the saturation was reached. The cost of oil became prohibitive to the economic growth and for a short period every new dollar added to the price tag didn't actually result in more petrodollars being traded (many factors such as the tensions in the middle East and alternative currency plays contributed to the culmination).

When dollars could not be channeled off shore, all the domestic markets reliant on consistent dollar dialisis imploded and that in turn sent shockwaves elsewhere. The dollar outflow had to be increased by brute force until the capital started flowing again. That's what the Fed's been doing for years now - trying to saturate the market with debt in order to generate outflows driven by supply of fiat as oppose to demand.

The reason we went over the peak was that at $147 the inability to pay for oil exceeded the need. It put an end to voluntary expansion every fiat needs in order to survive. Before that time debts were accumulated as an act of free will - the belief that growth was guaranteed. We all know it isn't.

The real growth is gone and along with it the days of all fiat regimes are numbered.

Wed, 06/19/2013 - 08:28 | 3670833 mogul rider
mogul rider's picture

bunga bunga is buying the dip



Wed, 06/19/2013 - 08:29 | 3670835 buzzsaw99
buzzsaw99's picture

they don't need all those stores. don't they have a wal mart?

Wed, 06/19/2013 - 08:31 | 3670836 Midasking
Midasking's picture

Why do people put up with this nonsense?  It is like the twilight zone.  This is going to end very badly...

Wed, 06/19/2013 - 08:34 | 3670841 yogibear
yogibear's picture

Right, why have a store just play the market.  

The Central bank's message, why produce? Just print and financialize and make trillions.

 Those in the middle east and China are fools. Taking printed money from thin air for assets.

Wed, 06/19/2013 - 09:36 | 3671055 Reader1
Reader1's picture

Maybe we could Ebay medical care? 

--------------- Auction 12345678: Prosthetic penile implant + installation.  Current Bid: 55$.  Reserve not met.  3 people are watching this auction.

Wed, 06/19/2013 - 08:37 | 3670845 Doctor of Reality
Doctor of Reality's picture

I may file for bankruptcy for my practice in order to clear bad debt. I can't write off bad debt as easily as other industries. Medicare and other government sponsored plans are cutting payments, my patients are broke and most private plans pay the same as they did in 2000. I have to hire more staff to provide paperwork assistance, at NO benefit to my patients. I'm NOT going to suck money from my personal nest egg to support my practice. "It wasn't supposed to be like this". I was told by my professors that being a "doctor" meant patients with pockets full of cash, and insurance plans flush with money, would be line up out the door to pay for my services. I'm busy, but working harder for the same and in Medicare's case, LESS reimbursment. 

Why do bankers and financial folks get the money when actual service providers and workers who produce things get the same or less pay relative to inflation? Because the system is out of balance. Government/FED policies reward the wrong industries. I'm looking into opening a Medical Marijuana business and leaving medicine. They will outlaw cash for service if the economy doesn't outright collapse first. Central planning actually appeals to my OCD side, but unfortunately... it always fails, as the unexpected always throws a wrench in the system. ASK MY WIFE!

Wed, 06/19/2013 - 08:43 | 3670860 fonzannoon
fonzannoon's picture

Doctor of reality.

take a look at this, fwiw.

"Thirty-two-year old family physician Doug Nunamaker of Wichita, Kan., said after five years of dealing with the red tape of health insurance companies and the high overhead for the staff he hired just to deal with paperwork, he switched to a system of charging his patients a monthly fee plus the price of an office visit or test, CNN/Money reported"

Wed, 06/19/2013 - 09:12 | 3670948 LawsofPhysics
LawsofPhysics's picture

It will come to this everywhere, fuck the paper-pushers, they produce nothing of real value anyway.

Wed, 06/19/2013 - 08:45 | 3670868 overmedicatedun...
overmedicatedundersexed's picture

hey doc, with you pal, fee for service worked, as long as charity was given by choice, the poor got treatment, today charity is a .gov right and expensive medicine is the result. who could a known?

Wed, 06/19/2013 - 08:59 | 3670894 Bangin7GramRocks
Bangin7GramRocks's picture

Wah wah wah! But I'm a doctor! Why can't I afford a gold plated Mercedes and a private jet. The hypocrisy of the Hippocratic oath. Serve the people as long as I get rich doing it.

Wed, 06/19/2013 - 09:02 | 3670916 fonzannoon
fonzannoon's picture

Wah wah wah I spent years in school learning real valuable skills while a buinch of jerkoff bankers did coke and waited for Daddy to hook them up. Wah wah wah I see sick and suffering people every day and distraught family members begging me to help them while a bunch of gym teachers and firefighters etc. bag 150k pensions and retire at 53.

Really you are ripping on a Doctor for wanting to make a good living? You must fucking hate farmers. They literally serve the people.


Wed, 06/19/2013 - 09:08 | 3670933 Bangin7GramRocks
Bangin7GramRocks's picture

I respect doctors. I also respect teachers. How much is enough. $300,000, $500,000? Bankers are leeches on society, but it doesn't mean I should feel sorry for you because your practice doesn't pay enough to buy a third home.

Wed, 06/19/2013 - 09:17 | 3670955 LawsofPhysics
LawsofPhysics's picture

Do you know what the details of this doctor's books are?  Do you know how many people he employs, do you know what his input costs are?  I suggest you may want to shut the fuck up.   I know far more paper-pushers in the financial sector of the economy with multiple homes than doctors.  Remind me asshat, what service or product of real value do all these financial fucks produce again?

Wed, 06/19/2013 - 09:23 | 3670995 Bangin7GramRocks
Bangin7GramRocks's picture

Don't accept insurance. Go cash only and there won't be any paperwork. Good luck with that. I am not anti-doctor. I just hate hearing the horrible problems of the 1%. I am lucky enough to have a business and a wife that works, but many on this site are unemployed. Keep your problems in perspective.

Wed, 06/19/2013 - 09:30 | 3671011 LawsofPhysics
LawsofPhysics's picture

Doctors do not make up the majoroity of the 1%, period.  Doctors/farmers and other people who actually provide goods and services of real value are already forming co-ops and accepting all matter of forms of payment.  By the way, Doctors and other professional spend have their fucking life in school dipshit.  That is have a lifetime in earnings lost and a tremendoous amount of debt.  It is very clear to me that the middleman in everything is the one who has gotten greedy.  The actual service providers have figured this out.


Fuck the mother fucking paper-pushers.  That which cannot be sustain won't be.  I suggest you hedge accordingly and central banker cannot "print" up the energy required to actually do anything and at the end of the day energy in is excess energy (in calories of Joules) that is required to innovate, or provide any product or service of real value.

Wed, 06/19/2013 - 10:02 | 3671170 Doctor of Reality
Doctor of Reality's picture

There's a reason I often arrow up your comments Law... they make sense. Same with Fonz and others who seem to get what's happening. I feel bad bitching when I make decent money (right now), but it's getting more and more difficult to plan for the future financially when the rules keep changing.  

Wed, 06/19/2013 - 09:33 | 3671039 Reader1
Reader1's picture

Amen on the farmers comment.  Farmers work their butts off for us, but everyone assumes the cost of food can never, ever go up.  Dairy farmers have been forced to cut every corner to try and stay in business while milk prices have been flat for 20 years.  If people knew what things actually cost, I think their heads would explode.

Wed, 06/19/2013 - 12:41 | 3671845 Totentänzerlied
Totentänzerlied's picture

Imagine if we hadn't exported the vast majority of a century's worth of inflation.

Wed, 06/19/2013 - 09:34 | 3671045 Doctor of Reality
Doctor of Reality's picture

If I were to live a comparable lifestyle as a 40 year old teacher (I'm 40), I'd need my practice to NET $400,000 (gross $1 million plus). I would then have to hire fill-in doctors ($$$) for weekends, summers, evenings, holidays... I'd have to spend A LOT for comparable medical benefits... I'd have to pay A LOT for disability & unemployment protection. I'd have to pay A LOT into a SEP-IRA in order to GUARANTEE a level of retirement they get to BANK on at a much earlier age. You'll sing a different tune when you need a doctor and the only ones left are there for the money only.

I choose this path and am not asking for your sympathy. Just don't cry when you need a doctor and market forces have pushed many of us into other fields. I won't leave medicine for more money, just more freedom!

Wed, 06/19/2013 - 09:18 | 3670972 Reader1
Reader1's picture

Bull.  Docs aren't free for a reason.  YOU spend half your life in school, go deep into debt you can't afford, work yourself to death as a resident, then go to work as a doc with million dollar malpractice insurance on your back for the psychos who sue you for the most insane claims, deal with the DEA on your back if you actually try to alleviate patients' pain, go through all the nickle and dime cheating of the insurance folks, and then listen to all the nasty, jealous comments from the ignorant about how YOU'RE the problem.  Oh, and watch the patients blame you for everything, get no thanks for all your trouble, watch your kids grow up in photos cuz' you're never home, miss holidays, birthdays, and even vacations because you're on call or someone is trying to screw with you by scheduling and re-scheduling trial appearances for those crazy malpractice suits, deal with mountains of uncertain paperwork and regs from the feds for obamacare and other nonsense, deal with govt regs that prevent adequate equipment and beds from being available, etc etc etc.  It never ends for them, but they have no right to complain because they're all millionaires who don't deserve anything they have because they somehow stole it from you and me.  Bull. 

I got family who are in medicine and friends, too, and they get crap piled on them from all sides.  I'm surprised docs don't all go Galt on the public and retire to the beach-Americans sound more and more petulant and entitled and jealous of docs every day.  No wonder they have to bring in more and more ignorant 2nd rate foreign-trained poseur docs to do the work. 

BTW-medicine isn't free for a reason.  You're not buying aluminum siding; you're paying for professional medical knoweldge and skill.  You can bargain on some things, but you ought to be willing to pay for quality with the guy who keeps you alive.  Otherwise, you can go to one of those illegal clinics in a rundown shopping center in Miami and pay an illegal alien to give you breast implants made out of Ziplock bags and Jell-O.  If you don't pay for it on the front end, you will pay for it on the back end.

Wed, 06/19/2013 - 09:34 | 3671046 Bangin7GramRocks
Bangin7GramRocks's picture

Sorry, I'm just being a dick today. I actually respect what doctors provide for society. Especially doctors that make titties bigger!

Wed, 06/19/2013 - 10:29 | 3671249 IridiumRebel
IridiumRebel's picture

You're just being an asshole. Go suck more glass dick and STFU. 

Wed, 06/19/2013 - 10:43 | 3671293 Bangin7GramRocks
Bangin7GramRocks's picture

Grrrrrrrr! Why so serious. Sorry I don't come here to talk about the evils of Jews, Blacks, Mexicans, Obama and unions. MY BAD!

Wed, 06/19/2013 - 10:27 | 3671221 Boxed Merlot
Boxed Merlot's picture

No wonder they have to bring in more and more ignorant 2nd rate foreign-trained poseur docs to do the work...

Amen.  I'm sure China and the Phillipines have quality chemistry programs, but when my CA State mandated Home Depot / Workers Comp / Liberty Mutual Insurance / Helmsman Management LLC attorney selected Kaiser Occupational Health treating physician and others go on regular extended "vacations" to the old world, it makes me wonder what these military institutions actually taught and are teaching them.

Obamacare?  Don't get me started.


Wed, 06/19/2013 - 09:00 | 3670908 Colonel Walter ...
Colonel Walter E Kurtz's picture

Hey doc, please look at Fonz's link. Please get all your doc buddies together and let's get insurance out of paying on the first dollar of medical expense and we can start getting realistic medical pricing. Sixty years ago your profession liked insurance because it meant you were guaranteed payment for services rendered, but look at what happens to a market when someone else (i.e. insurance company, employer, gubmint, etc..) other than the user is paying the bill. Only when you providers start getting together to change this mess, will we get real change in the medical industry.   

Wed, 06/19/2013 - 10:06 | 3671180 Ying-Yang
Ying-Yang's picture

Sorry to hear what's happening but many here on ZH will work for your new venture as product testers. No CD, I did not say tasters. Although flavored products may be a good selling point.


Wed, 06/19/2013 - 10:21 | 3671209 Winston Smith 2009
Winston Smith 2009's picture

"Why do bankers and financial folks get the money when actual service providers and workers who produce things get the same or less pay relative to inflation? Because the system is out of balance."

By DESIGN.  An excellent, short video on that from the guy who produced the outstanding, full-length video, "Money as Debt," which is also on YouTube:

That's no conspiracy garbage, that's actually the way our financial system works and is why there are so many quotes from famous people that are just like this one:

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford

Wed, 06/19/2013 - 14:39 | 3672414 Overflow-admin
Overflow-admin's picture

Good link; I didn't notice that Paul Grignon was running since 2006 (thanks WHOIS database)


The design must have been updated - that character looks like a mad copycat ^^

Wed, 06/19/2013 - 08:42 | 3670856 Jason T
Jason T's picture

what has been, will be again.

"The disintegration continued, and there seemed no power great enough to stop it. The treasury was empty, agriculture prostrate, industry demoralized, trade stagnant, and the only commercial activity was a maddened, consuming, parasitic speculation. In A.D. 301 Diocletian issued his famous price fix- ing decree as the last measure of a desperate sovereign."

Wed, 06/19/2013 - 08:54 | 3670892 gaoptimize
gaoptimize's picture

But this time, I'm sure we won't have ~70 years before the wheels come off the wagon.

Wed, 06/19/2013 - 10:42 | 3671285 Hongcha
Hongcha's picture

An awesome quote Jason T; is that from the The Decline and Fall?

Wed, 06/19/2013 - 08:49 | 3670874 TahoeBilly2012
TahoeBilly2012's picture

The Rainbow Coalition is coming for your guns and you WILL take this shot in the butt to keep you healthy when we say. 

Wed, 06/19/2013 - 08:50 | 3670878 spzpeterusz
spzpeterusz's picture

Call Amazon   they deliver

Wed, 06/19/2013 - 08:50 | 3670881 Judge Crater
Judge Crater's picture

About 10 days ago, I saw a report CNN correspondent Ben Wedeman.  Wedeman usually reports from the Middle East, I think he speaks Arabic.  In any case, he commented in passing that he saw a lot more stores closed than the last time he was in Rome years back. Most of the time, CNN, like the other lamestream news channels, concentrates on Obama, big disasters and Happy Talk segments like NBC's "Making A Difference."    

Wed, 06/19/2013 - 10:23 | 3671233 IridiumRebel
IridiumRebel's picture

You mean the handlers didn't shutter his broadcast as soon as he said that? I'm suprised you heard his entire sentence and there wasn't a retraction made.

Wed, 06/19/2013 - 08:55 | 3670897 orangegeek
orangegeek's picture

134 retailers don't go out of business in Italy each day.


134 retail owners close shop to go on vacation each day.


Don't worry, have some gelato.

Wed, 06/19/2013 - 09:04 | 3670922 Reader1
Reader1's picture

With fewer businesses to protect, the average Italian Independent Businessman is probably seeing some rough times, too.

Perhaps it's time the mafia contacted the government to make an offer they can't refuse?

"You gonna pull out of dat EU or you might have some problems.  It would be awful if dat nice parliament building you got were to catch fire.  It would be a cryin' shame if all those nice Guardia di Finanze cigarette boats were to sink at da dock.  It would be awful if your mudda broker her legs.  It would just break yer heart..."

Wed, 06/19/2013 - 09:03 | 3670920 Mitch Comestein
Mitch Comestein's picture

My dreams of openning an Italian Forever 21 are dashed!

Wed, 06/19/2013 - 09:06 | 3670929 bullmarket
bullmarket's picture

Without Ben, Tarp and the whole gang that could have the US. If only.

When it does come, I guess it'll be time to rejoice.


Wed, 06/19/2013 - 09:21 | 3670989 Al Huxley
Al Huxley's picture

Yep, thank God that when all the bets made by the fucking bankers, who were just fucking giddy going into Summer 2007, went south on them, thank God they blackmailed the country and the fucking complicit government into covering their losses and making them APPEAR solvent, so they could continue to pay themselves obscene bonuses as the real economy came apart at the seams.  Because imagine what a catastrophe it would be if banks actually had to be accountable for making shitty bets.  Yeah, sure glad that 800 billion went straight to the banks, no questions asked, otherwise things could be bad.

Wed, 06/19/2013 - 09:09 | 3670940 oldschool
oldschool's picture

134 net or gross?  I assume net, but we need to know to properly evaluate this data.

Wed, 06/19/2013 - 09:45 | 3671101 cpgone
cpgone's picture

Agree. What if Wal MArt or whomever came in and could operate more effeciently than they supposed 134 that cloesed? Or maybe there was decades or over-expansion and time to close the in-efficent ones.What if more people cook at home ,drink at home?

 Or a combo.

Wed, 06/19/2013 - 09:12 | 3670949 TrustbutVerify
TrustbutVerify's picture

Just print more money and give it to the people. Ar!

But seriously, they, like us, should consider buying more locally made (in country) goods.  Doing so builds real jobs. 

Wed, 06/19/2013 - 09:28 | 3671016 Al Huxley
Al Huxley's picture

Everytime I see this comment (which I know is made sarcastically) I make the same response, which is probably taken as sarcastic, but is in fact the real situation - The central banks WILL print more money, but they WON'T give it to the people (because that would encourage irresponsible behaviour, I suppose) - the 'free' money's only for the banks - I guess the theory being EITHER

- bankers being incorruptible, the free money won't encourage irresponsible behaviour by them


- Fuck you all, we own the money printing machines, why the fuck would we print it for you when we can keep it for ourselves

Wed, 06/19/2013 - 09:35 | 3671049 Flakmeister
Flakmeister's picture

The discretionary side of the economy is doomed...

Just wait until it hits here in the good ol' USA where retail space per capita is about 14 times greater than Europe...

Wed, 06/19/2013 - 12:49 | 3671889 Totentänzerlied
Totentänzerlied's picture

A world without retailers on every other street? MADNESS! SHEER MADNESS! The sheeple will not be pleased when "shopping" is no longer a major pastime activity. Personally, I say "bring it". Fuck consumerism. Time to get back to what works, and I intend to enjoy it.

Wed, 06/19/2013 - 09:37 | 3671059 Kreditanstalt
Kreditanstalt's picture

Same thing happens in North America too.  Only here the businesses never open - they're STILLBORN.

Wed, 06/19/2013 - 10:03 | 3671167 TrustWho
TrustWho's picture

Daddy Bernanke wants out of this mess he has created. Daddy is an addict full of fear and unable to think about the carnage his actions will unleash on the 99.9% poor folks on this world. Will the poor folks make the 0.1% suffer? 

Wed, 06/19/2013 - 10:46 | 3671306 Hongcha
Hongcha's picture

All I know is, I am just sick of seeing the Bearded Clam's fuck face everywhere I look now.  I thank God that I do not own a TV, otherwise the sepia-tinted paens to the Benank's reign, as it comes to a close, would be literally unbearable.

Wed, 06/19/2013 - 12:25 | 3671753 Jack Burton
Jack Burton's picture

They need a fucking "Olive Garden" those fucking places never falter. Last time I went in one was on a dark Feb. evening, a Thursday. There were 200 fucking cars in the massive parking lot. The people were stuffing their faces like cattle at a feed lot.

Jesus Christ, I felt sick. Sorry, but my tradition is Scandianvian, we love our food, but we eat small quantities during our meals and enjoy the quality and the satisfaction of taste, not stuffing our guts to bursting.

Poor Italy, small business is being killed. Without customers with decent wages and secure employment, people aren't going to buy at local shops. They will seek the biggest cheapest outlets. Like stuffing ones face on shitty factory food at Olive garden.

Wed, 06/19/2013 - 12:55 | 3671901 Totentänzerlied
Totentänzerlied's picture

If pickled and/or smoked fish was on my plate every day, I'd eat small meals too.

Italy deserves no sympathy. They learned the hard way that fascism does not work, now they will learn the hard way that neoliberalism and european democratic socialism don't work. Maybe they'll learn that debt-based fiat currency doesnt work either, but I'm not holding my breath.

Wed, 06/19/2013 - 13:40 | 3672105 GMadScientist
GMadScientist's picture

Just like Italians to clamp down on cash and then act surprised when cash-dominant businesses (across the entire market grayscale from legit to black) are affected.

Fucking buffoons.

Thu, 06/20/2013 - 05:30 | 3674425 Youri Carma
Youri Carma's picture

Record amount of bankruptcies in the Netherlands and Belgium too.

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