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Why Greece Should Leave The Euro In 1 Simple Chart
Is it any wonder that The Greeks want to leave The Euro? One glance at the following chart and it is clear who the growth engine is and who the anchor is...
Greece is expected to grow at twice the speed of the eurozone this year...
h/t @Not_Jim_Cramer
Of course, the alternative perspective is that all of this data is just entirely manufactured propaganda to keep the confidence dream alive.
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Gee maybe because it shrank so much the last few years it has nowhere to go but up now?
the theory of inevitable debtflation?
Grow possibly, but its not gonna shoot up like a phoenix out of Draghis crack.
there is no growth, it has been vanquished but
they will never tell you that. there is only
propping up, like "weekend at bernie's" for the
sake of image and the extraction of good times
while they last. call that "life" or growth if you
like but it is all in the context of
further parasitic and paralytic control and value
extraction, aka the "money" system.
that is the real concern that is never
confronted.
.
"Movin' Like Bernie"- What Started it All!
https://www.youtube.com/watch?v=eQgFhs_6pwM
.
https://www.youtube.com/watch?v=GK40vtKt0Eo
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Weekend At Bernie's HD Blu-ray clip
https://www.youtube.com/watch?v=YXhfv4UYv2I
[KR718] Keiser Report: Buddhas on Black Market
Posted on February 12, 2015 by Stacy Herbert —
Read more at http://www.maxkeiser.com/2015/02/kr718-keiser-report-buddhas-on-black-ma...
Greece leaves...bullish. Greece stays..... bullish. Got my DOW 18,000 hat ordered. Hope I get it in time.
hope you checked "same day delivery"
70% of their economy is the government. So this "growth" is..... what, exactly?
Greece has been an economic appendage of someone else for the last 180+ years.
agree. Which makes it a great time to change the way they do things. The country is in economic imiseration despite the appendages - thats the problem. Left to their own monetary and fiscal policies, I think Greece gets its act together rather quickly. Not the ideal ideology to be starting from (quasi Marxist social capitalism), but, wtf - no time like the present to find out what's going to work, and what is not - becuase regardless of outcome its on them at the end of the day. As its own nation state and not somebody else's - they'll figure it out and they will have every incentive to figure it out. Walk away Greece - from the permanent debt servitude. While you were fool enough to spend it frivously and without fiscal prudence, the EZwas just as foolish lending it to you in the first place. Walk away - take control of your own destiny and send the signal that one government one state solutions ascribed by a handful of tyrannical idiots that don't actually give a fuck about you or anybody else - destroys democracy and is akin to eviscerating independence, self ownership, and identity.
Fuck the European Commission The fact that this shit is still going on means they can't fucking fix it. Because a system built on moral hazard cannot be fixed. If Greece exits - watch that country prosper. Self ownership ushers in the hope for renewed prosperity - entrepreneurship as opposed to trying to figure out how you can stay busy 8 hrs/day doing nothing (the government bureaucrat's biggest economic problem), is infinitely more rewarding - especially to those who are unemployed and doing nothing at all.
Fuck the Troika. And do the only sensible thing - shed the servitude. It doesn't fucking work.
If Merkel were on the ball, she'd already be fixing to reintroducing the Mark.
Moar debt.
This "growth" is mostly fingernails - to hold on to the cliff face with. Gonna be needed.
I dont think Greece is going to be growing anytime soon......what politician thought that up????? maybe that is the chart of the non tax payers...
perhaps a chart of greek vs german unemployment best describes why greeks want to leave the euro
Yeah, but "wherever you go, there you are"
Watch for a Grexit "Czar" to be appointed soon. It will never be talked about ever again, just like Ebola.
Aren't race riots up next in the saturation cycle?
The point is not Greece. The point is the Euro is a deeply flawed currency, more so than the USD and it will eventually collapse under the weight of its flaws. The question here is will it collapse because members will leave voluntarily, or will it collapse violently as riots and uprisings turn into real revolutions. This is the whole point about Greece leaving the Eurozone, it will be the first country to withdraw and may spark a wave of departures. At the same time this is also the reason that Greece will not be allowed to leave, there will be a settlement that makes everyone look like a winner in the end. It will be bullshit, but it will be good enough for MSNBC headlines.
I think people are very flawed and, as a result, you get these moronic constructs.
Most are ignorant and clueless. Some are capable of keeping some mundane job that really accomplishes nothing other than to keep them on the hamster wheel. Then you have a few megalomaniacs that seek to improve everything for everyone else, usually using some trickery. Then it all crumbles and violence breaks out. Then everyone feels so bad and guilty (and they realize it but won't openly admit they are morons) and they listen to the next megalomaniac. This species ain't going nowhere like this.
Let natural selection work. It may appear crude and heartless but it works and it's 100% natural/organic/antibiotic free etc.
You can't blame them for trying, DeGaulle knew they had to fight "le defi Americain" (the American challenge), Mitterand wanted to hook himself to the Kohl's German industrial engine, all honestly wanted to try for peace on the continent and simplify cross-border commerce. Fair enough. But they tried monetary union without fiscal union, and economic union without legislative union, so they pass laws in Brussels that cut a swath through national sovereignty. Sad to see the results...but it's just regular old human folly.
But no one in his right mind would have accepted a fiscal union to begin with. Just consider the capital redistribution requirements that a fiscal union would require in order to even out imbalances . It would work out to something like 10% of the GDP of the North to be redistributed to the South. No way this will ever pass.
The 10% figure is not mine, it is either from the WSJ or the Economist I don't remember, it did shock me though.
Would have been clever to do a Northern Euro and a Southern one. France would have to pick tho, the Garlic Belt (Portugal Spain Italy Greece) might not be the side they would want to pick. Not sure the Aryans would want them on their team tho either
Look at the unemployment numbers (and then guess the real ones) across the European South. There is a very large number of people who don't even have a mundane job that would at least serve to keep them quiet and make ends meet. The sentiment is negative, the prospects for the whole world economy are in the drain, so it will only get worse and more demoralizing for million, including those who are currently more or less employed. We are certainly near levels of discontent that have historically sparked revolutions. If people are desperate they will follow anyone who promises a way out, it is not about intelligence it is about desperation. Like when a building is on fire and people jump out the window even if it is on the twentieth floor. Desperation is not about rationalizing it is about acting, and more often than not acting with and out vengeance. This behavior of the human species was probably shaped by natural selection.
Point being that if huge numbers of people don't have a mundane job, they probably should have never had one to begin with. Pump and dump.
Besides, I'm not speaking specifically of Europe. This cycle is one that is repeated throughout human history.
Get them a job or they will get a pitchfork. Your call.
Only to repeat the cycle 10 years later?
I think you've missed my point. Don't you see the loop?
Lastly, I'm not a politician and I haven't promised anything to anyone, nor did I ask anything of anyone.
"Is it any wonder that The Greeks want to leave The Euro? One glance at the following chart and it is clear who the growth engine is and who the anchor is..."
Ex-fukkin -scuse me??????
The GREEKS just Love the Euro. What other currency zone would give such a free ride?
you nailed it
Correction. The Greeks in power love the Euro. The peasants, not so much.
Bull.
The "peasants" 'know' that they "can borrow like drunken sailorz" - then exercise some BS version of democracy (which is a luxury in and of itself) and attempt to deny that borrowing above your means (their means) WASN'T THEIR FAULT..
The little guy (peasants) get screwed BC the debt collectors have the upper hand.
Neither party is 'right'.
BTW, they will probably have their money stashed away outside the country, so if it exits the Euro they will be able to buy everything on the cheap using a devalued currency. The ones with real power would probably love Grexit.
All fool the lender in that case....
i will have to disagree.. most of the greeks I know and their parents want the euro but they are mostly government workers. but probably a majority of greece are govt workers.
........so then you actually are NOT disagreeing.
Talked to many different europeons in the last few years, yet to find one in favour of the euro. Not indifference, proper aversion. 'Tis a shame they can't vote it away...
the thing is greece don't want to leave the euro. they want the option of the begging bowl down the road.
Greeks thinks euro should monetize all debts, for ever because man, " we can make a shit load of that stuff"
"Greece is expected to grow at 2x the rate of Eurozone."
And just because buying 2 Lottery tickets doubles your chances, still doesn't mean that your chances are good.
Look, let's have no pretending that the democratic process will be observed or respected. Greece gets to leave when TPTB give them permission. Otherwise there will be some "Arm twisting" from the likes of the POTUS, if ya get my drift.
wow nice
"Is it any wonder that The Greeks want to leave The Euro?"
Last I heard the Greeks overwhelmingly wanted to remain in the Euro, they just want moar, low-cost munnee.
The Greek government does not want more money and they do not want to pay-back old money. The population wants to keep the EURO but this is sort of contradictory to the government's position. The only thing we do not know at the moment is whether the government is preparing for a GREXIT or not. We will only know as soon as either the banks go on holiday or Greece sucumbs to the demand of its creditors.
Ha ha, munee.
that's greek for pussy ya know...
Oh this is stupid. Twice growth of shit is still shit.
NIGEL FARAGE https://www.youtube.com/watch?v=qDrhBxKRfdo
All citizens in EU hope Greece will leave EURO zone and will take responsibility for them self and won't ask any more money from others.
Hey Freedom,
Please kindly send your check for $56,678.31 to the US Treasury. This is your share of the national debt. If you have children or a wife, kindly include their portion of the debt as well. Please take resposibility for yourself.
Sometimes I don't know where the Tylers get this shit.... Understand something and let it sink in: Greece does not want to leave the Euro. With all the jawboning from the FinMin and everybody else, I haven't heard one syllable even alluding to a Grexit. They want the gravy train to keep rolling on. I think they SHOULD leave, but that's not what they're saying. They're just asking for their credit limit to be extended with no strings attached. Or did I miss something? So all this lofty talk of Syriza "fighting the power" is laughable.
My sentiments exactly, thank you. What I see are a bunch of unproductive whiners who elected communist rabble rousers to squeal for more free crap without lifting a finger or tightening their belts.
Come on, the US has 43 million on Food stamps and 18 Trillion debt. I don't think Americans are greedy lazy fucks, although there patently are many. So why Greeks? The only difference is they can't print the money, they have to beg for it.
Newsflash... Greece has a much longer history of ineffectiveness and inefficiency holding back their natioanl output potential
They can and have printed money. Most recently, it was known as the Drachma.
That didn't work so well because they are not industrious (as a nation).
The Greeks know that returnng tthe Drachma is a worse alternative to piggybacking on the Euro, which equates to living off the output of the peoples of the Northern European Plain (i.e., France, Germany, and the Benelux).
They would lose their purchasing power instantly, and that is not a good thing when your economy is lacking in raw materials and foodstuffs.
Newsflash... Greece has a much longer history of ineffectiveness and inefficiency holding back their natioanl output potential
They can and have printed money. Most recently, it was known as the Drachma.
That didn't work so well because they are not industrious (as a nation).
The Greeks know that returnng tthe Drachma is a worse alternative to piggybacking on the Euro, which equates to living off the output of the peoples of the Northern European Plain (i.e., France, Germany, and the Benelux).
They would lose their purchasing power instantly, and that is not a good thing when your economy is lacking in raw materials and foodstuffs.
+1
and I'll say it again -Greece ain't goin anywhere.
Hey Tyler, can you show a chart of where the bailout money went! Then we might get this shit narrative of greedy lazy Greeks over and done with.
Please lets keep our focus on who is ACTUALLY REALLY FUCKIN' GREEDY. I agree it starts with G, but it ain't Greece, is it Lloyd?
This is Greece's chance to be debt free since.... well forever.
It started out with debt -- as a result of the war of independence from the Ottoman Empire. But the Kingdom of Greece had only 25% of the Greek population in the region. So throw in another war to free Crete a few decades later, 2 more Balkan Wars to free Macedonia, then WWI, followed by WWII and a finally a destructive civil war.
Get rid of the debt, get rid of the EU, crush the oligarchs, and rebuild the country. Opportunities like this don't come along often.
I just read through the comments.
Not one comment recognizes that the infusion of cash from the ECB goes directly into the calculations of Greek GDP.
If Greece had not recieved their trenchants of cash (from the EU) their GDP would have cratered far into negative range. Greece has a NON-productive population, they need to be cared for. If they could pay their own bills they would. Lady Thatchers comment on socialism was spot on, eventually you do run out of other peoples money. We are far past that point. The world is now in a place where the other peoples credit is running out.
Who is going to feed and care for the worlds non-productive idle workforce, and how will it be paid for?
What is The Final Solution to deal with billions of idle (folks) who cannot support themselves?
TRanslation:
I'm an "FX trader" that has no idea what I am doing. I'm short Euro and starting to get nervous.