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"It Could Never Happen Here" - America Is Not Greece
Tick, tock... "it could never happen here?"
But as Jared "The 10th Man" Dillian writes on MauldinEconomics, a financial crisis of similar magnitude will happen in the US someday... it's just a matter of when...
I was watching the 6 o’clock news and saw images of closed banks in Greece and people lined up at ATMs. I’m sure you did, too.
This must seem surreal to most people because it seems so remote. But put yourself in these people’s shoes for a second. You have money in the bank. Suddenly you can’t get to it. After standing in long lines, you can only get 60 euros at a time, which isn’t going to last you very long.
What if you didn’t plan adequately and haven’t stashed away any cash? The banks will be closed for a while. What happens?
How do you pay for rent? Or food?
How does your employer pay you?
Do you go homeless? Or hungry?
Do you get really angry, take to the streets, blame someone or something (probably the wrong thing), break stuff, set things on fire?
Will Greece descend into anarchy?
It might.
Doomsday Preppers
Of course, not everyone in Greece is hurting. Many people saw this coming and took action. They took all their money out of the banks, put it under the mattress, or maybe stored it in a safe. Maybe they bought gold, or diamonds, or something else. These people aren’t standing in lines at ATMs. They aren’t going to go homeless or hungry.
But these people get a pretty bad rap—at least here in the US, where we call them “doomsday preppers.” Or “bunker monkeys.” Or “conspiracy theorists.” Or “gold bugs.” They take a beating.
Jim Rickards tweeted the other day, “I’ll bet there a lot of Greeks saying, ‘I wish I had bought some gold.’” Truer words have never been spoken.
This week’s issue of The 10th Man is not a gold promotion, but rather a broader discussion about how you can prepare for financial catastrophe. People keep fire extinguishers and first aid kits in their cars. They test their smoke alarms twice a year. They purchase flood insurance or, in my neighborhood, hurricane shutters.
Why would you do all these things but just leave your money in the bank and hope for the best?
I have studied all kinds of financial crises in all parts of the world, from depressions to hyperinflations. The thing they all have in common is that people who do not prepare get crushed. People who are not appropriately paranoid get crushed.
There is such a thing as being too paranoid (if everything you own is in gold and hard assets, you can miss out on some meaty returns in financial assets), but a little paranoia is healthy. For a few years, I had a pretty concrete escape plan, with assets, just in case.
In case of what?
In case of anything.
No Sympathy Whatsoever
I don’t feel sorry for Greece. I don’t feel sorry for the people in the ATM lines. They have had years to prepare for this day. Most people in similar situations don’t have so much time. I’m shocked that the banks had any deposits left at all.
Probably what will happen is that the banks will require a Cyprus-like bail-in and the depositors will take a massive haircut, getting only a fraction of what they once owned. There are no wealthy Russians to go after. The burden will fall on ordinary Greeks.
It’s also hard to feel badly for a nation of people who have chosen to pursue this ruinous political path—people who cast 52% of their votes for communists or neo-Nazis, and who have proven completely unable to take any responsibility for what has transpired.
Greece will probably respond to the failure of extreme-left Syriza by electing even more extreme politicians. It seems likely that they will choose a strongman to “get things done.” I think people fail to understand how totalitarianism can happen in the 21st century. Think of this as a YouTube tutorial video on the subject.
Full Faith and Credit
A financial crisis of similar magnitude will happen in the US someday. The only question is whether it will happen in 20 years or 50 or 100 or 200. But it is a virtual certainty. My only hope is that I won’t live long enough to see it.
Still, I know how to prepare for it. You know, in the old days before deposit insurance, people used to keep their money in five to ten different banks to diversify their counterparty risk. If a bank was perceived to be less creditworthy, the banknotes would trade at a discount.
I think that in the days of FDIC and various investor protections, we are lulled to sleep, believing that things really are safe when in reality, they are not. We were hours away from a complete and total financial collapse when the Reserve Primary fund broke the buck and there was a run on the money market mutual funds. We were that close.
After those dark days in 2008, I vowed that I’d never be in that position again.
You do sacrifice investment returns when you do this kind of stuff. Cash or gold or diamonds doesn’t yield anything. But then again, nowadays, neither do bonds. Don’t let the financial media shame you into thinking that taking basic emergency precautions to protect yourself financially is somehow “crazy.”
You can overdo it, though. You don’t need that many cans of pork and beans.
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I just farted
Again?
"I was watching the 6 o’clock news and saw images of closed banks in Greece and people lined up at ATMs. I’m sure you did, too"
No, I haven't watched the 6 o'clock, or any other MSM news in years. Nor did I finish reading something witten by someone who does.
The cartoon is racist. Uncle Sam is no longer "white".
… or male.
Maybe not direct exposure, but you know all those 'safe' muni bond funds that a substantial number of Americans are parking their pension and 401K money in?
Two words: Puerto Rico "...and it's GONE..."
From Fox Biz:
Oppenheimer - $230 billion or so of assets under management, but stock hasn't cratered like the next two bond INSURERS:
AMBAC - $170 billion or so of assets under management and little investor confidence.
MBIA? Warburg Pincus just dumped 27 million MBIA shares last month. What do they know about MBIA that you don't? Can you say PR exposure?
Added: Assured Guarantee (AGO) is another big PR bond insurer tanking on risk.
I just decided what I'm having for dinner. Add some chopped-up weiners. Livin' the dream; fuck Greece.
or straight
Uncle Sambo, bitch better have his money
the used car salesmen outfit should have been the first indication that the USA is a joke
Yea, this article smells funny.
"I’m shocked that the banks had any deposits left at all."
Really? It's called the ELA. They turned off the taps. The NWO train has departed on schedule.
http://www.bloomberg.com/news/articles/2015-06-26/ecb-said-to-leave-emer...
Of course it can happen here. It has, it’s too bad we have to relearn that the banking system is not always a safe place to keep your wealth. The adults that lived through the great depression certainly understood.
I googled your name just to see how obnoxious you actually are. You have been passing wind on websites since 2014
https://www.google.com/search?site=&source=hp&q=zippybananapants&oq=zipp...
How The Fed 'Broke' The Markets (In 2 Simple Charts ... www.doppler1000.com/.../how-the-fed-broke-the-markets-in-2-simple-c...Sep 23, 2014 - Tue, 09/23/2014 - 17:32 | 5249367 ZippyBananaPants · ZippyBananaPants's picture. Broke the markets or Broke wind? which is worse?
president Oblamo don't you have somthing better to do?
It's "Oblama," since the Kenyan Usurper is known to be a "catcher."
Plus, a usurper ain't qualifed under the tattered antiquated document covered in elephant & jackass $#!+, so he can't be president.
I just farted
Better knock it off, one can see your head is starting to deflate like a balloon...
Just don't rip one while in a courtroom. It tends to piss the judge off.
http://www.liveleak.com/view?i=5b8_1435670766
Why does farting get more down votes than Goldman-Sachs?
… at least GS permits you to breathe.
well, until they commoditize air, then all bets are off.
So far...
You need to get checked up from the waist down...
It can happen here and will happen here, much sooner than even ZH'ers realize.
2016 is the Year of Jubilee, so we need a massive debt cancelation by the end of September. A stock market crash doesn't even come close, that will happn this summer.
No, we need something MUCH bigger, like......oh, I dunno, the the collapse of the entire global bond market and the USD losing its reserve status and being depreciated by 90%
Yep, that would do it.
This area I live in is in the middle of the San Joaquin Valley. Due to agriculature and the workers, commerce has been slowly plugging along until now. During credit expansion of early 2000 (go shopping America - GW Bush) and bubble that doubled value of real estate, many privately owned businesses refinanced and improved their businesses, expanded offices, hired new employees. That bubble burst commercially as well as residentially and the family owned businesses, some owned for 50 years, closed. Big corporation came in. The stores are empty of customers. On my shopping trip yesterday, I saw empty shelves and clearance sales. World Market (similar to Pier I) was one of them. I believe we are going to wake up one day to see all of our stores closed and that terrifies me. I believe that the worst case scenario is the communities we live in turn off the utilities due to the same reasons Greece is faced with. Then, we are going to be forced to leave our homes, be unable to stay in them due to sewage/water shut offs, electricity, gas, local police.
You're probably right, but not to worry. I think that we have at least a couple of weeks yet.
Area which is being concentrated on is transportation and highways. They just put center lines on a country-like road near me. Curb appeal matters.
Crews transforming america into a giant corporate hub of exports of its resources, wealth and labor. Toll roads.
Let's be sure we don't get on any trains to the Crassandra Crossing. Big Pharma could be making a fortune selling cyanide capsules...off the shelf but I guess that is what ObamaCull is fort.
http://www.washingtontimes.com/news/2014/may/5/editorial-highway-robbery/
(From article): "Federal law currently prohibits the conversion of existing freeways into toll roads, though the rule has been bent over the past few years. Greedy bureaucrats, Republican and Democrat alike, have pushed pilot projects to create “Lexus lanes” that promise the wealthy a speedy journey in a taxpayer-funded lane, for a fee, without worrying about their progress impeded by working-class commuters. The District of Columbia, for instance, has revealed a plan to create Lexus lanes (or Cadillac channels) on the 14th Street Bridge and Interstate 295 as part of a scheme to raise $2 billion from Virginians and Marylanders. It’s the commuter tax the city has wanted for decades."
At this point if you have money in a bank you are hands down stupid.
That applies in Greece, elsewhere not so much. Though regarding my 401k, yes I'm a little worried; Jon Corzine is still on the lose.
At least this author isn't stoking fear -- saying it's at least 20 years away for the US to "go Greece". I believe it will happen, BUT ONLY after most of europe, japan and the UK go greece. A major like Frace or the UK is your 18 month warning -- to get the hell into hard assets fast.
Let's not forget the US is footing the bill for most of the military protection in this world. You and I may hate that, but in the end the US will get a very different deal than Greece/Cyprus. The banksters will be reminded just who protected their ill-gotten gains for the last 70+ years.
I'm not unprepared. I have some guns, gold and beans. I'm just not going all in at this point.
I'm guessing that if Spain and Italy go Greece, Europe as a whole will go Greece and if that happens, the whole world goes Greece. The headline article (at least when I posted this comment) was that factions in Spain and Italy are demanding the IMF review their debt just like they are reviewing Greek debt. A Pandora's box indeed.
The other variable in all of this is what NATO (meaning the US) does if Greece pivots toward Russia and/or China for funding. Both Russia and China would surely exact some kind of strategic quid pro quo in terms of military positioning, likely a nval base or two. Given current tensions between Uncle Sam, the Bear and the Dragon, we have the makings of a wonderful Tom Clancy or Larry Bond (who I think is better, by the way) novel happening in real life.
I'm more of the opinion that this is your 18 month warning for US debt collapse. Europe, China, Japan, then USA, in that order and all much quicker than most would imagine.
I've always been an optimist though, so it could take much longer than that.
"...at least 20 years away for the US to "go Greece"
In 5 years - 2020 - the CDC says every birth will be an autistic child.
In 5 years, there will be no hiding the effects of Fukushima radiation on the North American population. The Pacific Ocean will be devoid of life, thyroid cancer will be exploding, along with the awareness of what else will be exploding along with it, health care will be lower than Third World standards. All the agriculture coming out of California will be radioactive and grown in fracking wastewater (pretty much the case now), the mid-West crops will all be radioactive - what little is grown once the water disappears.
Not only will be be unable to feed the world, who will want to eat radioactive US foodstuffs anyway?
20 years from now North America will be sheer Hell. It'll be very apparent in 5.
"In 5 years - 2020 - the CDC says every birth will be an autistic child."
Bullshit!
Autism only occurs after their first vaccinations.
Well, you do improve on the CDC data:
'Courts quietly confirm MMR Vaccine causes Autism'http://www.whiteoutpress.com/timeless/courts-quietly-confirm-mmr-vaccine...
And in some states, like California, a child will receive over 22 vaccinations before they turn 5.
My advice to Greeks: Don't burn down your neighbors houses and businesses, and set fires in the streets. That's just plain dumb. Go find where the people live that did this shit to you, and throw shit on them and on their homes, start fires in their driveways. Basically, drive the bastards out of your country. Watch the airports for the imported assholes that show up to sign those deals, and make sure they don't get a cab ride. Make them get on a plane and go right the fuck back to the robbing shithole they flew in from. Take your country back. Hold your head high. And save a Gyro for me.
But sandiegoman said the other day that the doomsday preppers were all a bunch of crazies so he had to leave ZH.
Good luck when the state of CA blows apart into a million pieces pal.
Could it happen in USSA? All it takes is for the sheep to wake up. Oh, right, it won't happen.
Let's be honest with ourselves...what is happening in Greece will NEVER happen in the US.
We will never "MISS" a bond payment, because, we will just QE and Print the money to give to the Japanese and the Chinese and the Arabs.
Our problems will be so much worse than Greece....lol. Our goons in Washington are more delusional than those in Greece because the Greeks are being forced to face the ramifications of their over spending. Washington is completely willing to sacrifice the future of their children, grandchildren, and the entire sustainability of the USA becuase the FED/QE is allowing us to avoid the consequences of our financial stupidity.
You have to understand that TPTB are doing this QE thing because it benefits them to do so.
When it is no longer in their interest to keep the plates spinning, WATCH OUT!
You will not be given a heads up because its an exclusive club, YOU AIN"T IN IT!
You are correct. TPTB modus operandi: Manufacture a crisis to justify tax payer funded bailouts of "the click"; disperse copious quantities of QE bucks to select cronies to acquire assets and stock their fiat war chests; perpetuate disinflation in certain
asset classes and labor, in order to bolster fiat value, thus acquiring more assets; buy up assets of folks desperate to make ends meet due to inflation of other asset classes (tuition, utilities, food , rents, insurance, etc.) The Fed gives money to their
member banks, who loan cheap money to private equity, venture capitalists, select corporations, etc.., all of which kick money to the politicians who pimp out the tax payer. Then they manufacture a crisis.....to use the "business cycle" or the waves of
inflation and disinflation to grind your bones to make their bread.
wait til the Arabs jump ship and go over to the Soviets side......gonna get nasty
wait til the Arabs jump ship and go over to the Soviets side......gonna get nasty
I am a proud prepper, so far I have saved up a years supply of freeze dried food, amassed over 600 ounces of silver and counting, and have several thousand rounds of 5.56/7.92 caliber rifle ammunition.
The people who make fun of me today will be the same people begging for my help tomorrow...
recently i was thinking to do the same
you never know what will happen in 10 years
So what street do you live on in western pa?
Hehehe I no longer live there, could not find a decent job...
The first rule of prepping is act like you are part of the starving crowd. Tell no one about your food, water, PM’s or .556 and 762X51s. So you can see I’m starving also.
hey brother, can ya' spare a dime?, a pre-1964 Mercury dime?
Nope, Not here, we just mysteriously turn off our debt clock and no questions asked
I doubt there is one person in Greece right now (outside the .01%) wishing they had bought gold. People trying to get cash out of the ATM are not going to buy gold with it, they will be buying food with it. And regarding food the grocer isn't going to take a sliver carved off the side of a gold bar in exchange for a load of bread either. Maybe in a later day should that becomes the normal manner of exchange, but not today and not for a long while. In the meantime people gotta eat.
¨In the meantime people gotta eat.¨
Gold seems pretty popular with hungry people in Zimbabwe.
https://www.youtube.com/watch?v=7ubJp6rmUYM
"A financial crisis of similar magnitude will happen in the US someday. The only question is whether it will happen in 20 years or 50 or 100 or 200. But it is a virtual certainty."
exactly what i was talking to a friend today
not only usa eu and asia too
may they testing it on greece first
because a world-crisis will come just look at the nasdaq stockmarkets nikkei dax etc
IMF comes out with this debt unsustainable line with a tap on the shoulder from above and JPM corners the commodities markets. Just a coincidence I'm guessing.
http://www.latimes.com/business/realestate/la-fi-rentwatch-20150702-stor...
Bueno! Pedro can have his 22 amigos live with him.
How many cars do you need to drive 100 Mexicans to the Taco house?
es verdad.
que Obama se mete para el culo con Reggie.
Tick, Toke, Tick. Time is running out. The fascist (merger of corporate monopoly with government) never stop and never sleep as they move their fully financed agenda items forward. The fascist banksters are running out of time and must physically attack the American People soon and disarm them; least the population will revolt and hang the fascist bastards France Revolution style and purge the government of multinational corporate monopoly fascist traitors to our American Constitution and the American People.
Do you want employment, the jack-boot fascist are hiring psychopaths. Fascist are totalitarian that rule with their boot on the neck of their subjects. You are no longer regarded as an individual human, but as a subject to a higher order; specifically a debt slave subject to the fascist corporate masters. Worthless debt slaves will be too much liability and will be eliminated to trim the corporate profit line that will fulfill their fascist corporate fiduciary responsibility without morality toward humanity or our Earth.
Happy Independence day July 4,2015!
Yet you called us a "teabagger" and more or less threatened us for pointing out the monumental differences between a Republic and a democracy the other day?
TeamDepends---You are a liar!!! You never presented debate, all that the Teabagger gang of cowards could produce was screaming filthy names, like shitgumsusicide, but no debate, even though, I humiliated the hell out of you TEABAGGERS for your brainwashed ignorance. Here, let me educate you ignorant, uneducated bastard “America Patriots” that hate democracy, again.
We Americans had lived in a Constitutional Representative Republic which is defined as a democracy FORM of government “government, of, for and by the People”.
We Americans now live in a fascist FORM of government: “government of, for and by the multinational corporate monopoly”.
Teamdepends, you did not come in defense of your fellow Teabaggers the last time. Now you step forward to defend with an opening lie and no facts. I hope you are a Koch brother’s brainwash handler instead of a brainwashed stodge.
Tell me diaper boy, if you are so stupid that you will not fight for your American independent heritage and constitutional democracy, what FORM of government do you want to replace it with? And please, do not stick your lower lip out and say” wees don’t wants no gobermint”. Ha. Ha. Ha.
"Teabaggers", "Koch Brothers", you are a fucking progressive! You voted for Barry twice!!!!! And, like the unhinged leftist you are, you wished us physical harm because we disagree. "Constitutional democracy" LMFAO, that's an oxymoron, MORON!!!!! Bring it, we will fucking destroy you here and now.
Democracy is the most vile form of government.
-James Madison
Poor windcatcher can only mope and junk us now because he got his ass handed to him. Why do you hate the Founding Fathers?
You call that a rebuttal and you are handing my ass to me, fool? Ha. Ha. Ha. Where is your form of government fool? Do you think that the founding fathers including Adam Smith, the economist and the founder of the Free Market System decided on fascism as their form of government? Ha. Ha. Ha. You are not a Koch brainwasher but an uneducated brainwashed fool. I was hoping that you were one of the brainwashers that would try to intellectualize your ignorant position. If you hate democracy so much, again, what form of government are you striving for? Duh! Duh! Duh!
Did you vote for Obama twice, yes or no?
(crickets)
Bring it? Where is your rebuttal to any honest debate? All you do is scream American Faggot and lie instead of answering the questions.
It is well established that you are a liar and coward that screams to cover up that fact instead of honest rebuttal in a civilized manner. To demonstrate what a low life liar and coward that you are, let me present the obvious fact that you are posting under two identities. Your last identity, when I bitch slapped the shit out of you, and now with a different identity. You are posting under two identities, chicken-shit liar.
Now answer the basic question: what form of government are you striving for you un-American Teabagger? What more faggot screaming!
What lies? There is no debate. Democracy and Republic are as similar as Al Sharpton and George Washington. What questions? You called us "teabagger" and mentioned rifles and us deserving to be shot in the comment we referenced. We could find it and post it, but you are bloodied real bad. The "obvious fact" that we have a second identity? Tyler, would you like to step in and inform this clown that we have been TeamDepends, and only TeamDepends, for four years now? The form of government we are striving for is a Constitutional Republic, because idiots like you have let us slide into a democracy.
Also, the fact that you did not immediately refute voting for Barry twice, means that you voted for Barry twice. So who are you liking now, Hillary or Sanders?
“We are a Republic. Real Liberty is never found in despotism or in the extremes of Democracy.”
— Alexander Hamilton (1755-1804) Lawyer, Secretary of the Treasury & Secretary of State
“A simple democracy is the devil's own government.”
— Benjamin Rush (1745-1813) Founding Father& signer of the Declaration of Independence
“The democracy will cease to exist when you take away from those who are willing to work and give to those who would not.”
— Thomas Jefferson, Author of the Declaration of Independence, 3rd President of the U. S.
“A democracy is a volcano, which conceals the fiery materials of its own destruction. These will produce an eruption, and carry desolation in their way.”
— Fisher Ames (1758-1808) Founding Father and framer of the First Amendment to the Constitution
The one thing that I remember from my youth was that many people were of the opinion that if the big one hit (the third world war, the nuclear exchange etc. ) They would all let the initial flash or the mushroom cloud take their lives. Now we have the impending Qeolocalypse and when that happens, what will these people do? Will they go to the gov't and demand help or will they run to the so-called preppers and demand assistance from them? I have lived in enough "progressive" locations that the progs love to look down on they who care for themselves. Yet when the time comes, how will the great unwashed react? I guess we will see a lot of people using the argument that we are all brothers or sisters of Gaea and you have to share your supplies with me. Good thing I have my 7.62mm minigun ready.
Dumb ass. If you've been letting sheeple know you are prepped then you have already lost. First rule of fight club is silence. Sounds like you have the fatal flaw of being a braggart.
Fiat collapse French Revolution.
No more food stamps French Revolution.
Lack of running water French Revolution.
The US government is one crisis away from overthrow.
Do you drive a Fiat?
Had one, the frame rusted out, Fiat collapsed.
Long ago I had an 1100D Fiat sedan. I even remember their ad slogan: Second best shape in Italy. 55HP, 4 on the column, and the front seatbacks that folded flat against the back seat. A fun car. Lost in an altercation with a Ford Galaxie station wagon.
And...?
The key sticking point in the Greek tragedy is PENSIONS. Even the Eurarabians at the Trioka recongnized a finite point of raising taxes further on business would be regressive.
Unfortunately for the Greeks they were made to account for pension costs as a line item. Not such as here in the USSA where they are considered 'off budget'.
But I could easily see the same thing here except instead well groomed healthy looking old timers in the Greek sun trying to cage their (earned) pension money it'll be a bunch fat fucktard semi government drones in horrendous leaisure wear on motor scooters.
Easy, just make banks only accessable by stairs. Lots of stairs.
.
"in 20 years or 50 or 100 or 200"
What a gutless guess.
It reminds me of all the gurus who predict silver or gold will take off in the 'coming years'.
Gutless.
Front page of Charlie Hebdo last week:
"Save Europe. Drown A Greek"
http://stripsjournal.canalblog.com/archives/2015/06/24/32263962.html
They always get it right....
for a supposedly leftist, social-issue oriented magazine operation, that's quite an interesting cover.
can it be any clearer??? get into the phyzz asap... the shit commeth
www.teamramgold.com
I've been considering moving to one of the off-world colonies.
Sorry, wrong timeline.
Bitcoin is the only viable exit from the clusterfuck.
.... I don’t feel sorry for the people in the ATM lines....
Nice...populist..
Sometimes..sometimes...pensioners are trying to get their monthly payments via the bank and HAVE to stand in line. Same applies for working people...
Who says these people are standing in line to collect their savings?
If the EU had gone cashless there would have been no need to stand in ATM lines. People standing in lines sometimes start to talk, and the talk leads to anger, and the anger leads to ... revolt. Can't have that now, can we?
yeah - well 60 euros is 66 bucks...so that's better.
+100 for working those three sixes into the conversation.
Prepsite.org: A storm is coming http://www.prepsite.org/2015/07/a-storm-is-coming.html?spref=tw
But, like, that is SO lame! Because, like, consumers are 75% of the economy! (Ahem...how is that possible? Don't they have to be producers in order to be consumers?)
And, like, the Fed would never let that happen. And even if, like, they were all corrupted, Congress could always just print the money to make the debts go away. (Of course...one person's debt is another person's asset...so you'd lose them both...at best.)
And besides, that is not what any of the really smartest econom.. economi... like the econ professors and stuff are saying. They say that keeping something, you know, under the mattres is the EXACT WRONG thing to do. (They make money from the financial industry who profit only from debt, and suffer leveraged losses in the event of savings...what would you expect them to say????)
And the Nobel Prize winners, like Paul Krugman, say, like, we should borrow as much as we can, because, like, that's the only way the economy grows. They say that if we don't, then like the Fed should just print enough money to make the debts go away...but if it is the Fed who does it rather than us, then, well, only the 1% will get any of the money. Kruggy, like, says that it is our own fault that the .1% have been getting richer, because like the jobless people can't like borrow.
(Has this bozo ever been right about anything?)
And so, like, I support an end to these Capitalist oppressors, and think that, like, the government and Fed should take over everything, and give most of us who don't have real jobs loans for free, so that, like, the banks and corporations (that they work for) won't get more profits (Because expanding the Federal Register and creating new Departments has done such a DANDY job up to the present...if you're a corporation or bank...which are purely conceptual entities composed of oligarchs come to think of it..), and like, we can finally have Social JustUs...I mean Justice.
(Must have had a Freudian slip, there. I am in complete agreement that "JustUs" is the goal, if not the corrected version of it.)
Baised on my faith in humanity, I predict the vote will be "Yes" and a puppet government will be installed to continue the strip-mining of Greek assets, and they will continue to kick the can down the road a while longer.
20 Years is Hubristically Optimistic. This Freakshow doesn't have 20 months.
Jared Dillian was and is part of the problem.
The Greek people didn't take the various loans, the Greek government did, while hiding Greece's true debt and liabilities.
The IMF knew or had reason to know Greece's economy could pay back the loans given to it.
Ditto Goldman.
This is about the religion of debt-money flogging the Greek people, taking from them, to pay back ledger entries - to pay back with blood and sweat currency conjured out of thin air by people who contribute nothing to this world but get rich trading around and making needlessly complex future promises to pay, backed up by people not able to say no to loans made in their name.
This is odious debt, and need not be repaid.
On the other hand, and it would be nice to see someone write an article about it {Taibbi available?} is that Goldman ought to be disgorged.
Oh its happening your just being skillfully distracted
Debt-Ridden Illinois Heading Toward State Government Shutdown
http://www.cnsnews.com/news/article/emily-richards/debt-ridden-illinois-...
Illinois is heading toward a state government shutdown after the legislature adjourned Tuesday without closing a $6.2 billion gap and passing a budget by the July 1 deadline.
I would be surprised if the legislators didn't get paid before leaving town.
Here is the American version:
P = Puerto Rico
I = Illinois
G = ?
S = ?
9 minutes ago
By VERENA DOBNIK
From the article;
"I said to them, 'Don't worry, that's why we're here,'" said the Rev. Vasillios Louros of St. Demetrios. "This is the church of Christ and we always help people."
Busy day at the shooting range today.
Tick tock.
The advent of banking, initially, helped the progress of civilization by providing a secure and trustworthy repository for people's moveable wealth other than on their person or around their house.
Think about it. Ever heard of highway robbery? Home invasion? Beyond that, you could read chapter seven of Victor Davis Hanson's "Carnage and Culture" about the Battle of Lepanto in 1571, and the fate of the Venetian admirals, who had their wealth safely ensconced in banks back home, versus the fate of the Ottoman admirals, who had theirs hanging around their necks and in strongboxes in their cabins -- there being no one back home they could trust, including relatives.
Then you may want to study the kidnappings that are endemic in Latin America, and that have become pandemic during crises such as the Argentine Great Depression, 1998-2001. Upwards of ninety percent of them were and are perpetrated by relatives. After all, no one like a relative to have the inside scoop on who’s got what.
Which begs a question from all you stackers, does your mother in law know? If so, you are right now and permanently fooked. Don’t be surprised when you wake up to discover, after TSHTF, that it is an individual who sounds suspiciously like old Uncle What’s-His-Face behind that mask of Dick Nixon who is applying the truncheon to the bottoms of your feet, demanding the combination to your safe.
The demise of banking as a secure and trustworthy depository is not progress, it’s a regression, a landmark along the road of the breakdown of Western civilization. One, about which Jared “The 10th Man” Dillon may fancy himself paranoid, but I’m here to tell you he’s nowhere near paranoid enough, nor are 99 percent of ZHers.
Having read what he’s written, as his friendly neighborhood warlord, when TSHTF I think I’ll look him up and pay him a visit. Me and twenty or thirty of my friends, along with our SKS’s and grenades. He may think he can hold us off with his and his SO’s and rugrats’ AR-15s, but we’re not worried. We’ve got all the time in the world to wait for them to drop their guard. After all, the fuzz are paid off and on our side, waiting for their cut. It’ll be plenty profitable for a day or two’s work, I’m sure.
Like I said, not near paranoid enough...
Teamdepends is a liar and another Koch brother’s Teabagger troll that hates democracy. How can Teabaggers call themselves “American Patriots” yet hate democracy?
Bring it? Where is your rebuttal to any honest debate? All you do is scream American Faggot and lie instead of answering the questions.
It is well established that you are a liar and coward that screams to cover up that fact instead of honest rebuttal in a civilized manner. To demonstrate what a low life liar and coward that you are, let me present the obvious fact that you are posting under two identities. Your last identity, when I bitch slapped the shit out of you, and now with a different identity. You are posting under two identities, chicken-shit liar.
Now answer the basic question: what form of government are you striving for you un-American Teabagger? What more faggot screaming!
You call that a rebuttal and you are handing my ass to me, fool? Ha. Ha. Ha. Where is your form of government fool? Do you think that the founding fathers including Adam Smith, the economist and the founder of the Free Market System decided on fascism as their form of government? Ha. Ha. Ha. You are not a Koch brainwasher but an uneducated brainwashed fool. I was hoping that you were one of the brainwashers that would try to intellectualize your ignorant position. If you hate democracy so much, again, what form of government are you striving for? Duh! Duh! Duh!
BarackHomObamma : "Dis kood never happen in Ameyrica becuz :
(1) Wee can bom' & loot any nation anytime
(2) Wee can change any government using our NGOs financed by us in various countries.
(3) Wee are the largest produces of porn & our kapable ladies can prostitute themselves in any country
(4) Wee have recently legalized homosexuality so our revenue from porn industry will simply double.
(5) The Gods own peeple support us (becuzIsuckTheirDicksEveryday)
(6) All nations will forfeit their sovereignty when American economy will be in danger.
Also
(7) Wee can print any amount of dollars any time. And Dollar is our Gawd in which we trust."