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Meanwhile, In "Success Story" Portugal
Somehow, with over 33% of young people unemployed, Portugal is held up to be a 'success story' for Merkel's Europe's grand plan. With their stock market tumbling and bond yields (and spreads) soaring...
Perhaps it's time to realize nothing is fixed at all... as this image exposes all too clearly...
Source: @sturdyAlex
No, this is not a line at an Athens ATM; it is a soup kitchen in Porto, Portugal.
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One after another European countries are imploding...Europeans should stop meddling in Middle East and antagonising Russia.....
When will the 'powers-that be' see the light?.......When every European has left the continent?
A kingdom with no subjects it will become!
China
Japan
Italy
Spain
France
Portugal
Brazil
Thailand
Vietnam
Cambodia
India
Greece
All contracting in real terms, some by likely as much as 8% on an annualized basis.
Many have 40% real unemployment rates.
China + Japan + PIIGS (excepting Ireland) = uncontrollable economic Ebola contagion at this poi t
Fuck the banks.
I'm going long in soup...
In reality this picture is from 2013. Propaganda at its finest!
ZH would never imply something half or un-true. How dare you. Get some free bitcoin instead of complaining: http://freebitco.in/?r=25727
fail info ladies...
https://www.google.com/search?tbs=sbi:AMhZZiu3BAnCLimYlppbstezTCDqMiCPIU...
image is december 2013
just because it is used method , even once, make a serious hit to credibility of ZH. from now i'll pay more attention to what i read.
it is sad.
On Sunday, Greece is dead, long live Portugal!
The role of whipping boy in the EU will never be empty.
Kraut ist korrect!
Here it is in color too:
https://plus.google.com/113579153351721520309/posts/GBjji1zNpMs?pid=5972...
it's funny that just because it's ZH, and not MSM, some assume that everything posted must be 'truth' & not have an agenda, or a perspective to push.
nowhere does it state "please check your critical thought at the door before entering this website."
ppl who buy it hook, line & sinker are no different than the chinese day traders getting sheared, a bunch of sheep.
ZHers need to get over their moral indignation abt 'credibility' like it's some panacea that doesn't ebb & flow like everyone else's.
ZH has had cred issues for quite some time now, don't trust a blog that uses anonymous posters hiding under the moniker 'Tyler Durden', yet is free to extreact and use material from other scare blogs where they do not share this reluctance.
One of the ones I remember was when 'Tyler' scoffed at a sizable one day increase in the national debt earlier this year, but failed to point out that half the amount was offset the following day. It is a clear focus and emphasis on negative always and every time, not once will you see a good news story posted here. If something is shown as a nice story, there is a conspiracy depicted or an angle analyzed by some anonymous analyst. I stop in now only to see headlines of the day from the Tyler side and triangulate against other sources.
Absolutely right.
... and of course for the daily lulz when the particularly rabid tinfoilhatters get a cabal going.
Zerohedge remains the best source for detailed financial news, bar none. Contributions from places like the Mises Institute are high quality for instance. But anything that sways into politics too much - yes you Russia, usually ends up being a channel for blunt propaganda - which isn't always bad, because it does give you a different angle, which as you say, helps to triangulate.
Zerohedge helps to form a strong independent mindset by offering completely different views and thereby creating a constant reminder that there are always different angles to a story or "truth", which when you only follow mainstream media, is usually lacking.
However, anyone who falls for the - without fail - constantly negative slant is financially ill-advised and will have lost a great investment opportunity these last years (even with lacklustre fundamentals).
Another aspect that is double edged, is the absolute freedom of speech on the comments section. I love it, yet it brings the worst racists, homophobes and anti-semites out of the woodwork. I can live with that, but they do on occasion become the loud majority. Quite unpleasant.
All in all still a good place to come to, when taken in moderate doses.
+1 "when taken in moderate doses"
There is no end to internet insanity, with the execption of time.
it is unpleasant ...well when your brain washing is shown - the brain washing program is such that it reminds you of the shock therapy and you feel the unpleasant mind meme..get over it and recognise that is your brain trying to tell you perhaps you have been programmed.
"Another aspect that is double edged, is the absolute freedom of speech on the comments section. I love it, yet it brings the worst racists, homophobes and anti-semites out of the woodwork. I can live with that, but they do on occasion become the loud majority. Quite unpleasant."
Contributions from places like the Mises Institute are high quality for instance.
In spite of being dead wrong?
Low quality propaganda and misdirection are the minority. People who do propaganda and misdirection do it lavishly ... and the Mises Institute is no exception.
Mises is well funded ... and dead wrong. They are positioning for the reset. They will have us out of the frying pan (and we do need to get out of the frying pan) into the fire (a fire we have been in before ... many times).
Ask them to explain the gold standard to you.
How does it work?
How do you back a Medium of Exchange (MOE) with a commodity when the entire amount of the commodity in the world comes to just 1oz per person in the world? ... less than $2,000 at current production costs for gold ... petty cash!
Backing means exchanging (fiat) paper or accounting records for the object it stands for (thus removing the fiat attribute supposedly).
Now run the numbers in your head. Take all the assets "you" can convert into fiat paper. Then convert that fiat paper into what claims to be backing it (i.e. gold). Come to more than $2,000? Come to more than 1oz of gold? Come to "way more" than $2,000 and 1oz gold? What if everyone did it at the same time? What if just everyone on your block did it at the same time?
Tilt!
These Mises Monks think they are different than fractional reserve banking proponents?
And in particular, watch the negatives this reply gets, derogatory comments it receives, declarations that the poster is demented, recommendations for reading assignments ... and in particular ... watch for answers to the specific questions: (1) How does a commodity backed MOE work. (2) How can gold serve to back any MOE when there is only 1oz of the stuff per person on Earth and new gold can be produced for less than $2,000/oz.
If they had a true answer, it wouldn't take more than a 3x5 card to contain and deliver it. You wouldn't have to read volumes. And they would explain it ... in fewer words than I have written here.
If you prefer Polyanna go to church, if you're an atheist, find a good squeeze to lay around with and fuck all day.
Honest, I don't get the problem with the 2013 pic.
Look at the charts. Do you really think the Portuguese situation has got any better in the space of two years?
Zero Hedge has a taste for the dramatic, and often overstates its case. This is why it always needs to be taken with a grain of salt (of varying size and weight), and should be read side by side with mainstream financial media articles for the purpose of cross-referencing data and narratives.
Yet, the underlying point that this website makes often stands, nonetheless. Greece is a "special case" only in how far down the road it already has gotten. Many other places in Europe suffer from disturbingly similar issues as Greece does, ranging from unusually high unemployment ratios (especially among the young) to contracting or flat-lining economic growth, to ever rising poverty and unsustainable debt burdens, to a rapidly eroding political consensus.
Point in case: Even Finland is experiencing something of a mild recession, and sees right-wing populists consistently turn in strong election results. There appears to be a chronic problem with both the financial system and the traditional growth engines the industrialized nations have been using, which in turn speaks to serious structural rather than cyclical issues. Politicians representing the center do not appear able to mend these problems. The electorates are beginning to take notice.
Assuming, as it appears, that ABC bought the franchise, all we can do is wait for the real deal to post, if that really is the original. As usual, there is more meat in the comments.
With politicians, any ending is better than a mending.
In reality this picture is from 2013. Propaganda at its finest!
Perhaps so, but how much longer is the queue now???
OT, how long before we get to Soylentgreen???
Soylent Green billboards will show up as promotional ads in January, 1917, coinciding with the departure of our nightmare and the crowning of the Bitch of Buchenwald.
"NO SOUP FOR YOU!"
-Angela Merkel...the new Soup Nazi-
Fate the Magnificent
"Push the Button, Max"
Free healthcare, you get what you pay for.
It's healthy to be on your feet eight hours a day.
Fitbit says so.
Asia looks worse than Europe this morning! Look at those drops!
Elsewhere: Paula Deen faces social media firestorm over ‘brownface’ tweet
http://tinyurl.com/nexf292
paula dean is a sweet heart, i'm more concerned with an actual offence, the black criminality rampaging across the country/globe.
More proof that most people are idiots.
Time for the proles to cry racist and get distracted. Pavlovian response is feign outrage and be over sensitive to race bait shit.
That, or trot out a bogeyman - "ISIS" or "Global Warming" or something equally contemptible.
Given American history, I fail to see how these reactions are to be deemed "fake" or "disproportionate" in any way.
lol
The Europeans should stop emulating the old Soviet Union in both politics and economics. Centralism (the USSR kind) sucks and, as we all can see now, "enlightened" centralism (the EU kind) sucks brilliantly...
What do you mean? It's worked out pretty well for the banksters so far.
and perhaps you should get some grip on reality and find out that we in europe did not emulate the old Soviet Union in both politics and economics
item in case: Greece
in the US, it would be a simple case of a bailout with federal funds or a default, straight
in the old Soviet Union... Pravda would possibly have had a small article writing that some funds were needed for a republic that will raise it's goals higher
in China, a mix of both
but here in the EU, we have what we have... even if you don't understand
How is that 'simple bailout' for Puerto Rico going, Ghordius?
Geordies, you could help us understand if you would discuss instead of pontificating. When it comes to the EU, just like Free Shit America, they are indefensible. I'd like to hear your attempt to explain away the decayed journey into the sunset. Will we see the green flash?
You have the podium.
Probably only a couple of seconds after they find themselves hanging by the neck from one in the street.
"Europeans should stop meddling in Middle East and antagonising Russia..... When will the 'powers-that be' see the light?"
Never. From their point of view, you cannot build a new undemocratic fascist empire without breaking a few eggs. As always:
"the end always justifies the means"
I love the Sound of Farage in the morning..
https://www.youtube.com/watch?v=ai43B588_co#t=63
The great un ravel will happen after those cunts in that parliament will get back from their summer vacation...
and you're residing in one. Was it you touting Chinese stocks? Fall of the US? Carpet bagger banker dispensing FP?
next stop Russia?
The soup must not be that good. Nobody is fighting over it.
Central Cataplanning...
One large trough to feed them all
Here comes the Yada Yada Yada bullshit how "central planning" always fails without mentioning the most successful countries in the world (no. Europe., duh)
Point to a centrally planned country with oil reserves
Then point to a centrally planned country without oil reserves.
Then point to a country like singapore with sweet fuck all.
Greeve vs singapore.
Greece double the population
Greece shitloads more arable land
Singapore, higher GDP
and im out
Soup? Well fuck me I thought this was the bread line ...
make sure you get in the bread line first. Dont want the soup to get cold...
Soup? Thermogoddammics says that...
Input - Output = Accumulation
Thus, all of that output standing in a humongous line exceeds the soup input, so weight loss is the name of that futile gesture of humanity.
Let's face reality. The vast majority of people are unskilled and willfully ignorant.
They were meant to be taken advantage of by smart people.
Don't feel sorry for them. Rather, realize that it is thanks to those cattle that the upper class can enjoy 3-sigma higher incomes and financial security for their kids.
I can't tell you how many morons I personally tried to save: don't buy that house (circa 2006), save your Xmas bonus for an emergency, don't take out a payday loan... Did they listen? No. Some people *deserve* to be ripped off.
Who would want to be paid in sigma's hahahahhahaha
Y'all know what follows world economic collapse, right?
RIGHT?
Freedome ?
We eat the pilot?
Unless he is to stringy, whereupon we move to the attendant... Far more tender.
A deck of cards.
No one has noticed I'm sure , gold is down another $8 and silver another .30 out the gate
I have, bought silver yesterday. Just a tad early.
Killin' it
FIRESALE!
This is all a side show until the Italian default. Then baby, pop the corn and watch the action... http://reactiongifs.us/wp-content/uploads/2013/02/popcorn_stephen_colber...
io non apetto.
What kind of geese don't fly?
Portugeese binds.
btfd
Not Freedome... Thunderdome.
they have not invented food stamps there yet
or they have really good soup
What a fucking disgrace.
Well people dont wanna help fucking the banksters, they can go play in their soup lines.
Me, I can support myself with my lot of land, soup and bread for everyone in my vicinity. If mr. bankster sends mr. taxman to bully me I'll shoot him in the face.
I have been based in Lisbon for several months, and am skeptical of that photo. Porto has less than half the population of Lisbon, and I've seen nothing remotely like that here.
Yes, there are homeless people, and of course the economy is in bad shape. But that photograph – even if genuine – is poorly reflective of life in Portugal at the moment.
Neighbor, I have lived here for 44 years. That photo was not taken where you go have your gin.
Then apparently they have far more such "kitchens" per capita in Lisboa.
Thanks.
Tyler, for your entertainment
http://t.co/cgt72gFfw1
Something over 80%of people will go after the free lunch and 100% of free lunchers will squeal when the hidden costs of "free lunches" wind up lodged in their rectum.
I don't think this is completely true. I just came back from a Coffee shop in Lisbon (which, by the way was full of locals) and looking around I even see 70 year old ladies on their new iPads. I see only new cars on the streets and Hotels in Algarve will be overbooked (as every year). There are poor folks here and the Troika is shit, but there is no drama. The sun is shining and I have the feeling that Life is better "down here" than in upthight-ass Germany, where Pilots are depressed and fly into mountains.
Yesterday I switched around the local TV channels and only ONE was discussing the Greek crisis. The others had big discussion rounds about soccer (football) and how Iker Casillas will come to play for Porto. Oh yeah, and about that old lady that died (former "First Lady"). They just don't care about the Euro, Germans or Greeks. Soccer is a big time topic here.
Have a nice day. Visit Portugal some day. Well worth.
Q: In Portugal, are its citizens pro EU? Meaning, do they believe in the legitimacy of the EU Parliament and its Commission?
A: They believe in whatever pays out their fix of smartphones, fancy clothing, expensive gin and whatever else impresses the neighbors. If I tell them that Macazzabuumma the Martian Vampire is disbursing euros this month, they will worship Macazzabuumma.
"Alex Andreou @sturdyAlex 13h
13 hours agoIt seems the photo of that Porto queue is from 2013. My apologies. A Portuguese friend posted on Facebook and I had no reason to doubt them. "
Tylers, do try to pay close attention to the things you post. At least check your sources so this site doesn't end up like a bat tabloid.
Multiple stories in one day with easily debunked assertions?
Shit just got real.
Whomever owns ZH seems to be intentionally imploding the site's credibility.
Deja vu's and double posts.
Same cause.
Out of all the European countries, Portugal and specifically Lisbon, are the only places (to my knowledge) to have ever been wiped out by a Tsunami.
It happened in 1755 - but, there have been a number of tremors in the exact same spot recently too - i.e out along the Azores to Gibraltar transform fault.
Heads up Lisbon!
https://en.wikipedia.org/wiki/1755_Lisbon_earthquake
Two things: In the U.S.A. they'd shut down a soup kitchen. Second, the unemployment rate in the U.S.A. is 5.3% + 93.6 million. Aw, heck, let's just call it 45%.
Must be very good soup at that place for the queue to be so big and so many young folk wanting to get their 5 day.
Looks to me like Portugal has a very good soup....
Tyler, I noticed Senduko's post below.
Just in case this was a dated photo. Just retract. Lets not make a big deal about this.
When you are on the cutting edge of journalism, sometimes sources turn out to be bad.
Contributions from places like the Mises Institute are high quality for instance.
In spite of being dead wrong?
Just to add:
1) anyone can easily gather information online that will show you that many soup kitchens in Portugal have over 100 years. They weren't born as a result of the last credit crisis. You could make the same article with a 100 year old photo.
2) Nowhere 1 picture "exposes ALL too clearly". No single example is ever representative, thus no clear exposure can be drawn.