This page has been archived and commenting is disabled.

Another Nail In The Greek Coffin: Cheap, Migrant Workers Are Now Returning Home To Albania

Tyler Durden's picture





 

Four months ago we presented what was easily the clearest and most undiluted by media propaganda clue about the future of the European experiment, when we noted that even immigrants from places such as Afghanistan and Bangladesh, using Greece as a stepping stone onward to the gateway Shengen country of Italy, no longer have the urge to pursue their European dreams, and instead return home. As Art Cashin explained, "Over the decades, immigrants from Afghanistan, Bangladesh and other poor nations would work their way to Patras. They would stay for days or weeks awaiting a chance to smuggle themselves on to a freighter headed for Italy. Once there, they could make their way north into Europe to find hope and opportunity and maybe a job. Last week his relatives told him that things were changing. The immigrants still come to their way station of Patras (hope still blooms). But now, after a couple of weeks in Greece, they are trying to hop ships going the other way. They are going back home. Life was better, or at least no worse, where they came from and they had friends and family for support back there." It appears that the immigrant boycott is spreading, only this time instead of "discretionary" immigrants, or those that have not been fully assumed by society (think "cheap labor" along America's south, such as California, Texas and Arizona), it is starting to hit the core of the cheap PIIGS labor force: the migrant workforce, and in this case the Albanian diaspora working out of Greece at a fraction of the normal cost. And as one Albanian migrant worker, so critical to keeping the Greek construction sector supplied with cheap jobs puts it, "It looks like there's no money left," he said of Greece. "It all dried up." As a result even the Greek illegal-yet-symbiotic-aliens are giving up and going back home. Yes folks: the "indicators" on the ground are telling us that it is now easier to make money in Albania than in Greece.

More from Athens News:

As the world watches Greeks trying to cope with rising unemployment, tax hikes and plummeting salaries, a silent community of hundreds of thousands of Albanians – 60 percent of the migrant workforce in Greece – is weighing up its future.

 

Many face a stark choice: return to the impoverished country they left behind and try to start anew, or stick it out and face the threat of drifting into illegality in the crisis-hit country they made home.

 

Many thousands of Albanians have made the journey home, seeking the security of family networks but bringing with them children born and raised abroad for whom Albania is a strange land.

So aside from labor costs about to spike as employers have no choice but to hire local workers, not used to below minimum wage salaries, and thus margins to go even more negative (we leave it up to our readers to calculate what this means for government tax revenues), this latest unpredicted consequence means that sources of migrant labor into Europe will see far less cash transfers (usually via Western Union equivalents) in the future, and further slow down the velocity of money there where it is most needed: placed that do not have access to the ECB's perpetual crap collateral acceptance facilities.

With the crisis in Greece and Italy – another hotspot for Albanian migrants – showing no sign of abating soon, questions are being asked about the wisdom of Albania relying so much on remittances to support growth, and whether a wave of returning migrants could be a boon or a burden.

 

The country is one of Europe's poorest, suffering from the ripple effect of the sovereign debt crisis in the euro zone and particularly its main trading partners and investors, Greece and Italy.

 

Remittances from Albanians working abroad have halved since 2007, when 951m euros accounted for 10 percent of Albania's gross domestic product (GDP).

But who really cares about Albania: no crude to be liberated, no World Bank "projects" to be funded, no massive credit boom to be incepted: it is an F-grade actor in the globalization play at best. What people probably still do care about is the myth that is Greek GDP. And with a core support pillar - cheap labor - about to be yanked, that number is about to slide even more (if that is indeed possible).

The construction sector, where many Albanians make their start, has culled almost half its workforce, down to just 240,000 last year from around 400,000 in 2008.

 

The number of migrant residence permits issued has fallen by 20 percent annually since the crisis began, Triandafyllidou said.

 

Migrants can lose their legal status if they are jobless for long periods. Many are forced to accept work for lower pay or without social security benefits.

 

"What many migrants suffer from now is 'de-legalisation', which is tragic," said Triandafyllidou.

 

"People who have been here for more than 10 years, just because their stay was interrupted or they didn't manage to get their 10-year permit in time are left high and dry," she said.

It is unclear if Apple has a manufacturing facility in Crete. What is clear is that Foxconn workers and Albanian migrant laborers, have roughly the same arsenal in expressing their views on the world:

On Thursday, police on Crete said a 38-year-old Albanian man killed himself when he jumped from the roof of a building.

 

The motive was not known, but a police official who declined to be named said the Albanian father of two had been living in Greece for 15 years, and had recently been looking for work in Albania, without success.

 

It came a day after 77-year-old retired pharmacist Dimitris Christoulasa shot himself in the head on Syntagma Square, leaving hand-written notes saying he would rather die than scavenge for food.

 

With an official unemployment rate of around 13.4 percent, Albania is poorly placed to absorb returning migrants looking for work.

And while the increasing possibility of wage parity between China and the US is all the rage these days, it has already taken place between Albania and Greece:

"Here I get 800 leks per day [about 5 euros], which is what I was paid per hour in Greece," said Florenca Sulollari, who found work on a textile factory line in her native Korce last year after losing a similar job in Greece.

 

Greece's troubles followed her. The textile industry once boomed thanks to orders from Greece but is now struggling to stay afloat.

 

Greek companies account for more than 40 percent of foreign investment in Albania, but the Greit company that Sulollari works for has cut back its workforce to 67 from 350 in 2006 as orders from Greece evaporate.

 

"Under stress," replied the company's Greek owner, Panajotis Kaglatzis, when asked how he was faring. "I'm fighting here, and I'm not sure I'll get the money."

While as noted above few will shed a tear over the plight of Albanian labor as its ecosystem is terminally inverted courtesy of the implosion in the Greek economy, how long before comparable secondary derivative developments impact the Turkish gastarbeiter population in Germany, or Maghrebians in France? How long before forced wage reduction eliminates the only source of natural population growth, and kills off all sources of cheap labor? And what happens when the youth of Europe's neighbors returns with no hope or prospects? How long before the Arabian spring resurfaces with a vengeance?

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 04/09/2012 - 13:59 | Link to Comment Death and Gravity
Death and Gravity's picture

Just the same is happening in Gods Own Country.

Mon, 04/09/2012 - 14:09 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Goldmanistan?

Mon, 04/09/2012 - 14:28 | Link to Comment Pladizow
Pladizow's picture

Indians did the same in Dubai, leaving airport parking lots full of cars they would never return to.

Exodus!

Mon, 04/09/2012 - 14:35 | Link to Comment Badabing
Badabing's picture

They can always deal hash

Mon, 04/09/2012 - 15:10 | Link to Comment theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture

...and what if all the young people just up and leave as well?

all the qualified ones: doctors, nurses, pharmacists, engineers, accountants should be able to leave the EU entirely. The rest can be cleaners or waiters in london or berlin

then the greek baby boomers and pensioners will sure have fun demanding payouts from someone!

Mon, 04/09/2012 - 15:21 | Link to Comment smiler03
smiler03's picture

 

1. Why you shouldn't believe everything you read on Zerohedge.

2. Remember "Stellar Wind"? It's that new huge facility in Utah to spy on you.

3. Those posts by theMAXILOPEZpsycho in which so many of you believe has also posted the following over the last eleven months. Now decide if you believe him. I hope you find them as amusing as I have ;O)

 

27/05/11 - [first ever post] Good luck to you, sir! I wish we had guns here in europe.

28/05/11 - I'm from the uk  

29/05/11 - You said it, bro. I have a feeling I'd get laid more too.

30/05/11 - Well with the sheer size of my pecker I deserve 2 russian blonds! heck maybe I deserve one more for my ball sack!

01/06/11 - 10oz of silver says I can go to a bar and convince a (preferably greek) chick that I'm "annoymous" and get her to sleep with me...

01/06/11 - [On Turkey] the chicks are hot

13/06/11 - I'll knock on the door of a suburban housewife and threaten her with a baseball bat

13/06/11 - As for the prostitution game, there will be a rush of young girls onto the markt thats for sure. 

13/06/11 - Good for you! I hope you buy a house with the gold coin and several women with your silver!

14/06/11 - I'm so bullish my dick is bulging outa my pants and touching the screen.

14/06/11 - I actually feel like a bull that needs to go out and impregnate a mare

15/06/11 - imagine wen she's starving and I've got all that silver! Then she'd have to pay attention to me!! hahahaha!

15/06/11 - I think we've already agreed on a greek brothel, no?

16/06/11 - true, if you've gone more than 2 months without, pay a visit to a brothel - even at the expense of buying bullion

16/06/11 - yeh but at least I'll be turning high class whores every night

23/06/11 - Greek chicks are far hotter

02/07/11 - [On the Strauss-Kahn NY Case] my money money says she'd hardly be worth raping, other than for the power buzz of course

18/07/11 - [on providing for relatives] I'd rather visit a high class brothel than pay for their health care.

19/07/11 - Holy Cow I'd love to bang that saucy bitch questioning him now! Hot posh totty

02/08/11 - but I'm poor; I left university last year and this has been my first year working a non-minimum wage job.

21/08/11 - however, I'd love to fuck sarah palin!

22/08/11 - I will soon delete my facebook account, but am currently addicted to sexuallh harrassing severl females.

22/08/11 - Thrown out and banned from the swiming bathes for (how can I help it??) getting an errection while in the vicinity of teenage girls.

23/08/11 - I like my Milfs as much as the next man, but 55 is the upper limit for me

23/08/11 - I propose you hand over your cute little 17 year old niece to me and I'll give her the fritzel treatment! 

23/08/11 - lets see who ends up richer, yank - don't you know the rest of the world don't agree that customers should pay the servers wages

24/08/11 - Belgians are hot sure  

24/08/11 - I consider women from the south of france to be more attractive

24/08/11 - Also polish, lithuanian, and greek babes.

24/08/11 - Greek babes are the most under-rated in europe IMHO.

24/08/11 - Like others have been saying thats where I'll be heading to open up my brothel 

15/09/11 - I'm from London, 28 years old, and told constantly I'm middle class.

17/09/11 - I'd fuck her

17/09/11 - you'll be allowed into my secret underground brothel right in the heart of athens

19/09/11 - No, what we need is just for government to shrink away and stop trying to control money

20/09/11 - Open offer to Japanese school girls: you can live in my basement for free 

20/09/11 - Slovenia has some of the hottest chicks in the world.

20/09/11 - ..if anyone's thinking of opening a brothel with bullion profits (as I am)

28/09/11 - European Women vs American women...hmmm...tough one..

18/10/11 - my decision not to go to university and face the derision of my peers and parents sure looks fine and dandy now.

27/10/11 - However the problem with trying to kill an american is even if you shoot them temple to temple you'll be lucky to hit any brain

29/10/11 - [referring to MDB] Best "troll" ever...his material is classic, worthy of a book I'd say

02/11/11 - I thought that was why americans are thought of as stupid by the British

02/11/11 - I'm sure she'd be in ecstacy as I ejaculated right into her after a full minute and a half!

02/11/11 - yes rollercosters are especially good if you have a thai prostitute jerking you off while you're riding

16/11/11 - I have 800 oz of silver and 7 oz gold...Im young and poor

17/11/11 - And hot young protester pussy too! the city is where its at

18/11/11 - Im certain MillionDollorBonus is an economics major or ex economics major thats the only place where you get material of this quality

22/11/11 - I know Im just not as good as milliondollarbonus...

03/12/11 - Eat, drink, be merry...make regular visits to mid-level brothels too

12/12/11 - Hail Cameron the brave! Finally showing some of that Churchill style Bulldog spirit!

23/12/11 - Iranian women are babes...we need to liberate them so us westerners get a proper fair crack at them

26/12/11 - Does this mean I'll get laid even less?!?!?!?!

01/01/12 - My vote goes to MillionDollarBonus!!!!!

05/01/12 - I work for an EU council and can tell you the damage a downgrade by those predetory rating agencies would lead to unmitigated disaster.

05/01/12 - I work for the government regulaiting small industries. 

05/01/12 - I also have a significant amount of my portfolio in soverign debt

05/01/12 - you may laugh, but Russia has some of the finest women in the world! 

06/01/12 - [referring to mimicking MDB posts] don't make them too good or you double wrong foot people...if you catch my drift

17/01/12 - For the love of God! Imagine the US, if one state is in trouble the others help!

17/01/12 - [Europe] Otherwise standards of living will plummet in southern countries and the north will be left too strong.

17/01/12 - [from redpill immediately after the above post] MDB is that you?

19/01/12 - [referring to Pippa Middleton (some royal dork)] I wanna fuck Pipa's ass so bad

03/02/12 - Jessica Alba bent over a table saying give it to me baby?? Worth an ounce of silver at least

05/02/12 - This week I earned my salery by gaining circa 3000 dollars by imposing fines on unregulated market stalls.

06/02/12 - On my day off last Saturday I saw a teenager selling hot dogs in the street.

07/02/12 - I posted yesterday how I truely believed in the greek recovery and I was mocked, insulted. 

22/02/12 - Keeping my powder dry for 1000% Then I'll be all in on Greece, with my coffee shop due to open next month as well

27/02/12 - [referring to Ag price] Get your facts in order before you come on here trying to make yourself feel better about your infirior dna

08/03/12 - Ok I get I won't make anything but I get to mess up the banks right?

15/03/12 - [referring to Madrid] you can find a decent puta [prostitute] for about 50 euros though

16/03/12 - more importantly 99% of people are absolute morons

21/03/12 - do hookers count? If so Im closing in on your ass

22/03/12 - Really if I was an american I'd be looking to get out of the US - the civil liberties there are appalling

24/03/12 - I'm currently looking at buying properties in greece via a fund with a major investment bank

29/03/12 - [referring to German Rail Toilets] just piss on the station outside...don't ever pay to piss or shit

31/03/12 - [on apathy] keep going for pussy and beer

01/04/12 - [referring to "Adult Fried Finder Nasdaq: FFN] don't knock it...I got laid twice thanks to that site. One was amazing!

07/04/12 - I've worked hard to get a good college degree. 

07/04/12 - it was through my campaigning for the president that I got my current job.

07/04/12 - Now there's talk of me going to europe to spend some time working in Brussels.

 

 

Mon, 04/09/2012 - 15:46 | Link to Comment theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture

It feels lovely to be appreciated! I was starting to think all my hard work might have gone unnoticed!

Mon, 04/09/2012 - 18:14 | Link to Comment prole
prole's picture

Those are some gems MAX tks for the lulz!!

Mon, 04/09/2012 - 15:47 | Link to Comment theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture

hold on where did you get all those posts from? did you copy and paste as you were going along?

One is truly flattered!

Mon, 04/09/2012 - 17:04 | Link to Comment smiler03
smiler03's picture

It was a slow news day! Once I started I couldn't stop ;O)

edit: Your Au & Ag predictions have a pretty good track record.

Mon, 04/09/2012 - 16:02 | Link to Comment Iwanttoknow
Iwanttoknow's picture

great job.

Mon, 04/09/2012 - 16:23 | Link to Comment sessinpo
sessinpo's picture

smiler03                                2329016        

1. Why you shouldn't believe everything you read on Zerohedge.

2. Remember "Stellar Wind"? It's that new huge facility in Utah to spy on you.

 

Comment

I'm not going to copy and paste your entire thread before you can change it. Total waste of time and space. I have, however, pasted your comment on "Stellar Wind."

I suggest you do due diligence before posting to specifically attack others. I could really careless what Max posts. When I see any information of interest, I investigate it on my own. EVERYONE here should.

So for your convienence, here are several sources that make you look silly.

NSA Utah ‘Data Center’: Biggest-ever domestic spying lab?

https://rt.com/news/utah-data-center-spy-789/

The NSA Is Building the Country’s Biggest Spy Center (Watch What You Say)

http://www.wired.com/threatlevel/2012/03/ff_nsadatacenter/all/1

 

I only post on this because big government is a pet peeve of mine and is something I watch regularly.

Mon, 04/09/2012 - 16:54 | Link to Comment smiler03
smiler03's picture

I looked at several links to find the name and location of the big NSA project. One I used was http://thenewamerican.com/tech-mainmenu-30/computers/11246-nsas-stellar-wind-cover-is-blown which references the same www,wired.com article you linked. I was making a subtle (too subtle perhaps) link to the fact that I posted a large number of rather ludicrous posts from one troll, it's as if I used a spying database to dig out some history which has been logged. No? Never mind.

What due diligence didn't I do? I read every single one of his comments ever posted by him.

"When I see any information of interest, I investigate it on my own. EVERYONE here should."

I agree totally, which is exactly why I did it. The thing is is that far from "everyone" reads the background of a poster before believing him. Like MDB he has started to cause huge number of posts by people who think he's really working for the US Government. Entire threads go on page after page after page. So many readers just don't understand sarcasm and they fall for it, they get really irate and waste their own time by responding to him, "feeding the troll".

Big Government is a peeve of mine too. We have our equivalent of your NSA project going on in the UK too. Hopefully it looks like the proposals will be scaled back a bit (if we can believe what we're told).

http://www.bbc.co.uk/news/uk-politics-17650716

Regards :O)

Tue, 04/10/2012 - 08:59 | Link to Comment sessinpo
sessinpo's picture

smiler03           2329308

What due diligence didn't I do? I read every single one of his comments ever posted by him.

 

Comment:

Well, from the lengthy transcript you posted, you obviously read a lot of his comments. No one is 100% right all of the time. Pick and choose your arguments and you are more likely to win. My posting is an example. You specifically mentioned Stellar Wind as if no such facility exists. Well it does. Does it have the capability some suggest? Only time will tell but the facility does exist.

 

Don't get wrapped up into individual posters to much. You'll find yourself spinning your wheels getting nowhere. I say this from experience. I've debated several things and posted sources that no one was able to refute. You just get personal attacks. THOSE ARE THE REAL TROLLS. Non professional, post only on emotion, non factual, no sources. Trolls are best dealt with by ignoring them. They just want attention - want to feel important which is why they are inflammatory. Everyone I've debated, including those Ron Paul supporters, I've thrashed on facts and thoughtful posts which I find funny since I support most of Ron Paul's thoughts. But the responses I got were awful and turned more people OFF of Ron Paul, which is unfortunate. They did more harm than good because they were acting like trolls. So I just moved on. They made themselves look bad and by the way, I ended up being right about Ron Paul. Oh well, I call em as I see em.

 

Tue, 04/10/2012 - 10:15 | Link to Comment smiler03
smiler03's picture

Hi again sessinpo,

"Remember "Stellar Wind"? It's that new huge facility in Utah to spy on you."

This was not at all intended to suggest that the project doesn't exist, quite the contrary, I don't understand how you construed that. I could have posted a link to the "research" I did (one was identical to yours remember) but felt no need to as it was covered very recently by ZH and would be familiar to most ZH readers.

http://www.zerohedge.com/news/%E2%80%9Cwe-are-far-turnkey-totalitarian-state-big-brother-goes-live-september-2013

"THOSE ARE THE REAL TROLLS. Non professional, post only on emotion, non factual, no sources."

Agreed 100%, it's the single most thing that often puts me off from reading comments. I end up just reading the article. When accurate posts are made, and sourced, people still get downvoted by others just because they don't like the facts. This always strikes me as odd but I've learned not to jump in, in support, because you just get junked yourself. I must have more than a 100 times started writing a comment and then think better of it and not post at all.

By the way, if I saw a post the length of mine then I would've automatically junked it and probably not read it so we agree on that too.

Cheers ;O)

Mon, 04/09/2012 - 17:15 | Link to Comment silverserfer
silverserfer's picture

so would you rather China and Russia own your ass or USA? Theyre doing it too. Would you rather live in a country that is dumb and blind or capable of defending itself? The world is big there are other elements more dangerous than big brother.

Mon, 04/09/2012 - 18:19 | Link to Comment prole
prole's picture

The world is big there are other elements more dangerous than big brother.

Like Stupidity?

I would rather live in a country that is FREE, FREE, FREE

Larry the Cable guy and a few of his deer-hunting buddies can "defend this country" the rest is slavery, your post is stupidity and slavery



Mon, 04/09/2012 - 17:21 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

look at the timestamps, sess_0:  he couldn't change his post after someone replied to it

WAY before your shitheaded comment about "not bothering to copy it b4 he changed it"

how long have you been doing shit like this, here?  or are you really that fuking styoopid?

Tue, 04/10/2012 - 03:49 | Link to Comment Marc_W
Marc_W's picture

Good analysis, good job.  I'm sure some part of the fascist intelligence apparatus in the Anglosphere has a job for your profilng dissidents.

 

This is why I change accounts every 4 to 8 weeks on Zero Hedge.  Less data to mine.  Bitchez.

Tue, 04/10/2012 - 10:19 | Link to Comment smiler03
smiler03's picture

LOL! Is that you Trav?

Just kidding. It is scary that every post you ever make on ZH is logged for all to see. I've made plenty of posts and regretted making them. Perhaps I can reincarnate myself as smiler04. I wonder if people would notice?

Bitchez 

Sun, 05/13/2012 - 16:10 | Link to Comment obessoligarch
obessoligarch's picture

is true greek girls are the hotter,plus they are poorhttp://www.girlfriendvids.net/26976/greek-voyeur-photos-amateur-topless-...

Mon, 04/09/2012 - 20:48 | Link to Comment Buck Johnson
Buck Johnson's picture

It wasn't just indians, in fact they where mostly expatriates from europe and the US.  Because if you can't pay your debt in those countries your arrested and imprisoned until you can.

http://nymag.com/news/features/52180/

http://www.washingtonpost.com/wp-dyn/content/article/2009/08/09/AR2009080902421.html

You have to read this one this will tell how bad it really was and still is.

http://www.independent.co.uk/opinion/commentators/johann-hari/the-dark-side-of-dubai-1664368.html

Mon, 04/09/2012 - 14:54 | Link to Comment duo
duo's picture

The busiest maternity ward in the US is (was) Parkland Hospital in Dallas.  I believe 20,000 deliveries in a good year, a single digit percentage are insured (nearly all illegals).  The county decided to build a new hospital.  The design was a giant maternity ward and ER, with a hospital attached.  Between when the architects drew it up and today, the birth rate is down to half.

Our neighborhood landscape guy would like to go back to southern Mexico where his family is, but he would rather keep his head attached to his body.

Mon, 04/09/2012 - 15:17 | Link to Comment Oracle of Kypseli
Oracle of Kypseli's picture

Incidentally, the Greek gov had passed a law that all Albanian illegals that wanted to repatriate, will get reibursed for the transportation of all their aquired belongings. In thei infinite wisdom of central planning, the albanians called their bluff and left with all their belongings, including electrodomestics. Then they sold everything at a profit and crossed the border back to Greece again.

Central Planning at its best.

Mon, 04/09/2012 - 15:39 | Link to Comment macholatte
macholatte's picture

 

A common mistake that people make when trying to design something completely foolproof is to underestimate the ingenuity of complete fools.
Douglas Adams

Mon, 04/09/2012 - 16:48 | Link to Comment Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Duo, Parkland is broke and probably the worst hospital in Dallas now. Thank you US medical care!

Mon, 04/09/2012 - 18:44 | Link to Comment Madrid2020
Madrid2020's picture

Proof that every cloud,indeed,has a silver lining:now perhaps all those unwanted Moroccans,Africans and Equidorians will leave Spain!

 

Mon, 04/09/2012 - 14:00 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Bullish!

Mon, 04/09/2012 - 14:01 | Link to Comment digitlman
digitlman's picture

Albania!  Albania!  You border on the Adriatic!

Mon, 04/09/2012 - 14:19 | Link to Comment Arius
Arius's picture

thats the slavic dream ... alabania is the star in the shield of ottoman empire ... all the dead man are coming back from the graves ... got to kill them again!

Mon, 04/09/2012 - 17:52 | Link to Comment Catch-22
Catch-22's picture

"Albania!  Albania!  You border on the Adriatic!"

Is that you coach? Say Hi to Sam and Woody...

Mon, 04/09/2012 - 14:02 | Link to Comment Troll Magnet
Troll Magnet's picture

maybe we can export some of our own college grads to greece!  

Mon, 04/09/2012 - 14:47 | Link to Comment UP Forester
UP Forester's picture

We did.  The problem is, they all went to Harvard, Princeton, Yale and Columbia, majored in Economics, and worked for either Goldman, JPMorgan, or the Fed.

In other words, educated above their abilities and no real work experience, much like the majority of university professors....

Mon, 04/09/2012 - 15:26 | Link to Comment The Disappointed
The Disappointed's picture

I'll go to Greece! I always wanted to see the Elgin Marbles.

Oh wait. The British stole them. They are in the British Museum. Aren't they?

Mon, 04/09/2012 - 14:03 | Link to Comment battle axe
battle axe's picture

If you have to go back to Albania, then you know that the shit has not just hit the fan but the fan has also blown up. 

Mon, 04/09/2012 - 14:25 | Link to Comment FeralSerf
FeralSerf's picture

Albania's not very prosperous (unless your business involves ciggie smuggling, drugs or some other CIA/Mossad enterprise), but the cost of living is very low, much cheaper than Greece.  Food and rent are cheap.  It's still not as bad as it was when Enver was running the show.   The same thing is happening in the southwest US as Mexicans that formerly had jobs in construction are returning home to their families.

Mon, 04/09/2012 - 14:49 | Link to Comment UP Forester
UP Forester's picture

White slavery should drop in Greece.

They've got that going for 'em....

Mon, 04/09/2012 - 15:21 | Link to Comment Doña K
Doña K's picture

You forgot to mention crime against the middle class. 

Mon, 04/09/2012 - 15:30 | Link to Comment Winston Churchill
Winston Churchill's picture

Wait until the Greeks and Italians want to emigrate to Albania.

 

Mon, 04/09/2012 - 18:47 | Link to Comment Madrid2020
Madrid2020's picture

That would be like someone from Vermont going to Mississippi

Mon, 04/09/2012 - 16:49 | Link to Comment Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Mexicans in US. Learn from your Albania cohort. Go home!

Mon, 04/09/2012 - 18:49 | Link to Comment Madrid2020
Madrid2020's picture

Kenyans too!

Mon, 04/09/2012 - 14:08 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

'Yes folks: the "indicators" on the ground are telling us that it is now easier to make money in Albania than in Greece.'

Yeah, not sure about that. Certainly the gap is closing... fast, but 'easier to make money' is a vague notion, not to mention the FX argument.

Mon, 04/09/2012 - 21:05 | Link to Comment icanhasbailout
icanhasbailout's picture

well, there's always the imputed price of putting up with greeks

http://www.youtube.com/watch?v=Zvl9N9GdraQ

 

Mon, 04/09/2012 - 14:06 | Link to Comment ekm
ekm's picture

There will not  be an Albanian spring. It's not in their mentality.

They will all go from Greece to Germany.

Mon, 04/09/2012 - 14:08 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Spoken like a real Albanian.

Mon, 04/09/2012 - 14:09 | Link to Comment ekm
ekm's picture

True.

I chose to go to Canada, arrived in 1999. Still here in Toronto.

Mon, 04/09/2012 - 17:04 | Link to Comment Catch-22
Catch-22's picture

Good for you, you should do well there…

 

They like minorities in Kanada. They like to make their visible minorities… very visible. It makes them look so opened minded, so worldly, so politically correct…

But Fuck you if you are born there… I left in ’96.

An add for a government job in Ontario, the year before I left, actually said; “white male need not apply”!!!

Also, what ever you dabble in, they will skyrocket you to the top (whether you’re qualified or not) and you can delegate your work to someone under you with greater credentials, and make you look good…

Many here on ZH disses the US but, take my word for it, the US is like capitalism; it’s not perfect but it’s the best we have. 

 

Mon, 04/09/2012 - 17:15 | Link to Comment ekm
ekm's picture

Not born in Canada, but you make some very good points that I cannot disagree with.

Mon, 04/09/2012 - 17:28 | Link to Comment Catch-22
Catch-22's picture

I'm happy you didn't take this personally... I honestly hope it works out for you. BTW, if you see my sister say hi for me.

Mon, 04/09/2012 - 18:36 | Link to Comment ekm
ekm's picture

My friend. I've chosen to enjoy my life. What you said is what I promote for a healthy debate.

A debate without insults is quite boring and not worth venturing into.

If one can't handle it, it shouldn't be on Zerohedge. Zerohedge is the holy grail of debating.

Tue, 04/10/2012 - 03:56 | Link to Comment Marc_W
Marc_W's picture

Guess you've never worked for the U.S. government.  All affirmative action welfare junkies sitting around doing nothing while the few competent white men do all the work.

 

You think the U.S. is a bastion of capitalism and non-discrimination against white males?  Jesus Christ I can't even imagine how horrible Canada must be for you to think the U.S. is better.

Mon, 04/09/2012 - 14:06 | Link to Comment LawsofPhysics
LawsofPhysics's picture

World wage parity.  All according to plan. Oh yeah, bitchez...

Mon, 04/09/2012 - 14:07 | Link to Comment bob_dabolina
bob_dabolina's picture

Know why Switzerland has such a low UE rate?

They don't allow immigration, well, they are very strict on it.

2.9% is a pretty low UE rate (especially in this economy) because they don't allow every immigrant from Uganda, Mexico, or Libya to just jump in and take advantage of their system.

Mon, 04/09/2012 - 14:08 | Link to Comment ekm
ekm's picture

Switzerland has huge number of Albanian immigrants, particularly from Kosovo.

Mon, 04/09/2012 - 14:13 | Link to Comment bob_dabolina
bob_dabolina's picture

How many blacks?

Mon, 04/09/2012 - 14:18 | Link to Comment adr
adr's picture

There were a few blacks a couple genrations ago, but without the heavy sunshine they have all turned white now. Each one is pissed they can't use thier skin for special favors as now they are all in the same boat as whitey.

Mon, 04/09/2012 - 14:27 | Link to Comment ekm
ekm's picture

Switzerland has Germans, French and Italians living together. It's quite a harmonious society and they do not give a shit about external pressure. The country has voted to ban muslim minarets or something similar. Saudi Arabia was pissed, but they told Saudi ambassador that as soon as he allows a church to be built in S. Arabia they will review the result of the referendum.

Mon, 04/09/2012 - 14:36 | Link to Comment bob_dabolina
bob_dabolina's picture

Strange.

A very homogenous society and one where the society also shares the same belief structure also happens to have one of the highest standards of living in the world.

I just find it odd very few black people live there but the standard of living and quality of life is so high.

Mon, 04/09/2012 - 14:38 | Link to Comment AnAnonymous
AnAnonymous's picture

French, Italians, Germans, that is the idea of a very homogeneous society?

US citizen nature is eternal.

Mon, 04/09/2012 - 14:41 | Link to Comment Badabing
Badabing's picture

Switzerland = black land

Mon, 04/09/2012 - 16:14 | Link to Comment Uncle Remus
Uncle Remus's picture

Uhhh no. "Switzer" means Swiss person/people. You're thinking of "schwarz".

Mon, 04/09/2012 - 18:27 | Link to Comment prole
prole's picture

AKA "Haiti"

Mon, 04/09/2012 - 14:52 | Link to Comment UP Forester
UP Forester's picture

I know, not as homogeneous as only having to speak Mandarin, Cantonese, and everyone looking the same, except those that go to the NBA....

Mon, 04/09/2012 - 15:25 | Link to Comment bob_dabolina
bob_dabolina's picture

Mostly white people from the same geographical area adopting and accepting the same societal belief structure seems pretty homogenous to me.

Seems like a winning method considering Switzerland has the highest standard of living in the world.

Mon, 04/09/2012 - 15:27 | Link to Comment AnAnonymous
AnAnonymous's picture

Same societal belief structure? Indeed.

They do even speak the same language.

But in terms of US citizenism, mostly white people is enough for homogeneity.

Mon, 04/09/2012 - 15:44 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

In terms of Chinese citizenism, mostly Tibetan, Nepalese, and Mongolian lands are a good start for blobbing up.

 

Mon, 04/09/2012 - 15:46 | Link to Comment macholatte
macholatte's picture

Austerity = Cure for Immigration Cancer

Mon, 04/09/2012 - 21:08 | Link to Comment StychoKiller
StychoKiller's picture

Open Borders or Welfare State; pick one, ya can't have BOTH!

Mon, 04/09/2012 - 19:29 | Link to Comment ekm
ekm's picture

Most of swiss speak at least two of those 3 languages.

Mon, 04/09/2012 - 18:53 | Link to Comment Madrid2020
Madrid2020's picture

I knew a black guy once in Geneva,I think he was a jazz player or basketball player can't remember. Aren't many.

Mon, 04/09/2012 - 21:01 | Link to Comment RafterManFMJ
RafterManFMJ's picture

Jeeze Madrid, you sure he wasn't a fried chicken house proprietor or a melon farmer?

Tue, 04/10/2012 - 01:18 | Link to Comment Madrid2020
Madrid2020's picture

Well,now that you mention it?

Mon, 04/09/2012 - 14:57 | Link to Comment ekm
ekm's picture

There is no special treatment in Switzerland. You work hard, you get paid. They won't allow anyone to sit idle and everybody is treated equally regardless of the color or ethnic background, no special treatment.

Case in point: Usually albanian soccer players from Kosovo that live abroad end up playing for Albania. However, there are 5 albanian soccer players playing for switzerland's national soccer team. They decided to play for Switzerland because they get treated so equally, it was out of gratitude.

Mon, 04/09/2012 - 14:58 | Link to Comment Wolferl
Wolferl's picture

In Switzerland Germans, French and Italians are living in different parts of Switzerland and not together. Switzerland happens to cover much of the boarder of the those different cultures. This doesn´t mean those different cultures have no influence on each other in Switzerland.

Mon, 04/09/2012 - 15:16 | Link to Comment ekm
ekm's picture

Oh, they do but those people feel and act so differently from germans in germany, french in france and italians in Italy.

True swiss. There is a history about it. Quite fascinating.

Mon, 04/09/2012 - 15:34 | Link to Comment RafterManFMJ
RafterManFMJ's picture

Wait wait, a country that acutally takes the fuck care of it's citizen's and it's own interests? And isn't China - this is a Western country, you say? GTFO!  A country where they think beyond the next election cycle?? Off to the Rosetta website to see if they have a program for learning Switzerlandic!

Mon, 04/09/2012 - 18:39 | Link to Comment ekm
ekm's picture

I actually never thought about this angle of thinking, but it's true, it's so true.

Mon, 04/09/2012 - 14:24 | Link to Comment ekm
ekm's picture

There are few from Africa but not many. Now they have tighten the immigration a lot.

Mon, 04/09/2012 - 14:36 | Link to Comment Robot Traders Mom
Robot Traders Mom's picture

"Colored boy? Why you son of a bitch!"

Mon, 04/09/2012 - 20:37 | Link to Comment WonderDawg
WonderDawg's picture

Any Caddyshack reference is a good one.

Mon, 04/09/2012 - 15:27 | Link to Comment Jan Modaal
Jan Modaal's picture

Only one: black money

Mon, 04/09/2012 - 14:59 | Link to Comment PontifexMaximus
PontifexMaximus's picture

But unfortunately from......Albania and Kosove

Mon, 04/09/2012 - 15:24 | Link to Comment ekm
ekm's picture

Your opinion is your opinion. I'm ok with it.

Tue, 04/10/2012 - 03:59 | Link to Comment Marc_W
Marc_W's picture

Please show me a country full of non-whites that whites are clamoring to get into.

 

Seems like all the non-white countries are completely shit holes that nobody wants to live in.  Wonder why that is?

 

Must be due to white racism.  We just don't appreciate "diversity."

Mon, 04/09/2012 - 14:06 | Link to Comment q99x2
q99x2's picture

That's nothing try getting to New York from California without having to go through a Bankster checkpoint.

It is so bad here in California that the Mexicans are having their relatives in Mexico send them money so they can get back home.

Mon, 04/09/2012 - 14:19 | Link to Comment bank guy in Brussels
bank guy in Brussels's picture

Reminds me of an American story I saw some years ago.

Inside the USA, one Mexican is telling another Mexican he has found the perfect successful slogan for his sign panhandling from bigoted American motorists at a traffic stoplight, and he is getting rich.

"What does the sign say?" asks the other Mexican.

"The sign says, 'I only need $5 MORE for a TICKET BACK to MEXICO!'"

Mon, 04/09/2012 - 14:37 | Link to Comment Robot Traders Mom
Robot Traders Mom's picture

I still fall for that trick, although I am just hopeful

Mon, 04/09/2012 - 18:35 | Link to Comment prole
prole's picture

BGB that is funny but you have evidently never been to the US (a blessing) I have never seen a Latino panhandling. In Baltimore, the city that loves to read (and shoot) It is common to have an intersection with various diverse beggars, including white gypsies pretending to be some "charity" about animals or cancer, blacks openly panhandling, but the Latinos there on the intersection entrepenourship selling flowers, not begging.

Mon, 04/09/2012 - 17:35 | Link to Comment Iwanttoknow
Iwanttoknow's picture

BGB,

You are very well informed.Care to comment on chateau amarois and the Dutrox affair?

Tue, 04/10/2012 - 04:00 | Link to Comment Marc_W
Marc_W's picture

I see some young able bodied Hispanic beggars at the intersection by my office every now and then.  Usually it's an old white or black guy with what may be a fake limp.

 

I always make the point of yelling, "GO BACK TO MEXICO YOU FUCKING BEANER" at them as I drive by.

 

The white guys I occasionally give $50 to and say, "go get fucking drunk on the U.S. government's money bro."  But only if they're atheist.  I wouldn't want to interfere with God's will by giving poor people money.  They're poor because God hates them.  The bible tells me so.

Mon, 04/09/2012 - 14:21 | Link to Comment Floordawg
Floordawg's picture

Bankster checkpoint? Is that a euphemism for an ATM?

Mon, 04/09/2012 - 14:07 | Link to Comment Eireann go Brach
Eireann go Brach's picture

This will never happen in America, as votes = food stamps = more time on the throne of the White House!

Tue, 04/10/2012 - 04:02 | Link to Comment Marc_W
Marc_W's picture

If you were a king would you prefer to lord over more or less peasants?  Obviously the oligarchy prefers to have more slaves rather than less.

Mon, 04/09/2012 - 14:08 | Link to Comment centerline
centerline's picture

Rapidly approaching the zero yield moment.

Mon, 04/09/2012 - 14:08 | Link to Comment Wolferl
Wolferl's picture

Hey, guy posting as Tyler Durden, you do realize that Germany unemployment is at a serveral decades low? There is a huge imigration from EU countries to Germany now, most of them are well-educated young people. Everyone who wants a job gets one in Germany right now.

Mon, 04/09/2012 - 14:15 | Link to Comment adr
adr's picture

I want a job in germany to escape the shithole of America. Haven't gotten one yet, so not everyone who wants a job has got one.

Mon, 04/09/2012 - 14:27 | Link to Comment Wolferl
Wolferl's picture

Was talking bout everyone from the EU. If you are an EU citizen you are entiteled to live and work in every EU country.

Mon, 04/09/2012 - 14:37 | Link to Comment Non Passaran
Non Passaran's picture

The more they work there (in "core" countries) the worse it gets for their home countries. Yes, they send money back home but I doubt that will do it.

Mon, 04/09/2012 - 15:48 | Link to Comment Wolferl
Wolferl's picture

If you are young, well educated and there´s a youth unemployment of 20 or 30 percent it´s better to have a job elsewhere in Europe for some years than being unemployed. Earn some money, get some experences abroard. And, this the 21. Century, we have internet, we have cheap flights to every destination in the EU you can stay in touch with your homies almost like you are working in another town at home. And after some years go home and help rebuild your country.       

Mon, 04/09/2012 - 14:28 | Link to Comment FeralSerf
FeralSerf's picture

The eastern Europeans have pretty much got the immigrant job market in Germany sewed up.  You're too late.  Maybe you could try Canada.

Mon, 04/09/2012 - 17:06 | Link to Comment Ahmeexnal
Ahmeexnal's picture

Plenty of jobs in doucheland at the FKK clubs.

Mon, 04/09/2012 - 14:17 | Link to Comment battle axe
battle axe's picture

For now, wait and see what happens when Germany is left holding the bag when the PIGS start to default, those well-educated young people, will be thrown out on their ass...

Mon, 04/09/2012 - 14:24 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

That's when you'll see D-marks come back. This ain't the States.

Mon, 04/09/2012 - 14:41 | Link to Comment Seb
Seb's picture

Or Reichmarks.

Mon, 04/09/2012 - 18:38 | Link to Comment prole
prole's picture

Panzer Divisions?

Tue, 04/10/2012 - 07:19 | Link to Comment tsuki
tsuki's picture

They don't need Panzer Divisions.  They have DeutschbanK.

Mon, 04/09/2012 - 15:07 | Link to Comment PontifexMaximus
PontifexMaximus's picture

And the well educated german profs and engineers are moving over to Switzerland....

Mon, 04/09/2012 - 14:10 | Link to Comment Kastorsky
Kastorsky's picture

THe number of immigrants - legal and illegal - in US is gargantuan. 

All of them came here for economical reasons. And with economical advantages quickly disappearing, there are no reasons to stay.

Standards of living are getting very close to those in Russia, for example.

The exodus of dual citizens will be staggering. (and already has began).

No one mentions this when cheering for housing recovery.

Mon, 04/09/2012 - 18:04 | Link to Comment zerozulu
zerozulu's picture

Not all but some came here under the freedom slogan. They should go back for sure.

Tue, 04/10/2012 - 04:05 | Link to Comment Marc_W
Marc_W's picture

The exodus of white native born Americans will also be accelerating over the next decade.  The U.S. has made it clear it doesn't want us here due to its anti-white policies and official state discrimination against white males in education and employment.

Mon, 04/09/2012 - 14:13 | Link to Comment Zero Govt
Zero Govt's picture

..and Polish plumbers are leaving Britain too

it's when the Romanian beggars leave your country you know you're totally fucked

Tue, 04/10/2012 - 20:38 | Link to Comment Madrid2020
Madrid2020's picture

Good! There's hope for Madrid.

Mon, 04/09/2012 - 14:14 | Link to Comment adr
adr's picture

I think we can all say if people are starting to say that staying in Albania is better than living in America, we're truly fucked.

That is going to kill the illegal sex trade though. All those hedge fund guys are going to have to settle for African or Asian women. Now they'll have to use condoms. They hate that.

Mon, 04/09/2012 - 14:23 | Link to Comment Arius
Arius's picture

so did DSK...

Mon, 04/09/2012 - 14:26 | Link to Comment jimmyjames
jimmyjames's picture

 

But who really cares about Albania: no crude to be liberated

**********

I've been investing in Albanian crude-or at least in the hopes of discovering some-

If Shell thinks there's a chance-so do I-

I'm buying the jr partner-

 

http://www.petromanas.com/s/News_Releases.asp?ReportID=506213

Mon, 04/09/2012 - 14:28 | Link to Comment ekm
ekm's picture

Bankers Petroleum, canadian company is extracting oil in Albania.

BNK in Toronto

Mon, 04/09/2012 - 17:27 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

 

now does "i" mean:

  1. you in a personal account or IRA? or
  2. for the bank?  or
  3. both, j_j?
Mon, 04/09/2012 - 18:51 | Link to Comment jimmyjames
jimmyjames's picture

Why don't you get off your banker shill trip-

"I" trade for myself and if i thought i would have any chance of winning-i would short every bank to zero-which is their current value-marked to market-

You hyper-inflationist's get pretty suspicious around a deflationist huh

Mon, 04/09/2012 - 23:14 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

not at all;  thxz for the straight reply

if their current value is so low, what is the market discounting? 

if you said people's styooopidididity, why argue?

disclosure:  slewie owns no albanian exploration plays dependent on rdShell as the generale

Tue, 04/10/2012 - 01:01 | Link to Comment jimmyjames
jimmyjames's picture

if their current value is so low, what is the market discounting?

*************

If we could look inside level 3 assets it would be as plain as the nose in your face-

Mon, 04/09/2012 - 14:32 | Link to Comment Oggy
Oggy's picture

That's nothing so new...

I heard this two months ago, direclty from a Greek guy. If you want to check some more real facts about the new greek mythology, I can advise listening to these 3 radio documentaries containing a lot of informations recorded "on location".

 

just there : http://eurowinter.wordpress.com/

 

There's a lot of things to learn there about the coming year zero of Greece...

 

Mon, 04/09/2012 - 14:32 | Link to Comment Mugatu
Mugatu's picture

Albania exports more goat milk than any other European country.  Why would you leave for Italy when you have a whole lot of attractive goats hanging around?  It makes no sense!

Mon, 04/09/2012 - 14:34 | Link to Comment Guns N Metals
Guns N Metals's picture

Culturally speaking, this is a good thing when illegal, third-world peoples return to their own countries. "Cheap labor" is one of the effects of Zionist engineered globalization. This so called "workforce," in addition to providing a country with cheap labor, also destroys the culture of the nation’s people and divides them. And this of course is by design. I see the same thing happening along the Texas/Mexico border.  

Mon, 04/09/2012 - 14:38 | Link to Comment Robot Traders Mom
Robot Traders Mom's picture

Best post today. I'm glad I scrolled down!

Mon, 04/09/2012 - 14:45 | Link to Comment Peter Pan
Peter Pan's picture

This is the way globalisation works. Either you allow cheap labour in to perform service sector work as in building or you pack up your factory and capital and set up in a low wage country. Globalisation also allowed great waves of government and personal borrowings in Europe and the USA to create spending power lost due to manufacturing contraction.

The restoration of some balance will be painful and drawn out and will see the possible reversal of treaties, and the probable dismantling of the Euro once reality sets in and an exit mechanism is figured out.

Mon, 04/09/2012 - 14:53 | Link to Comment Frank N. Beans
Frank N. Beans's picture

why migrate for work when you can gamble in AAPL. 

fact is, Greece should have put all those gobermint hand-outs in  AAPL stock, and they would be out of debt by now.  maybe it's not too late.

Mon, 04/09/2012 - 14:53 | Link to Comment yogibear
yogibear's picture

Eventually the same thing occurs in the US. As the US dollar value continues dropping and food, oil and everything else spikes immigrants from countries like India and China will find the less and less desirable in the US. Taxes will make it tough to live in the US with it's manufacturing in China and it's software development/design in India.

Mon, 04/09/2012 - 15:04 | Link to Comment SmittyinLA
SmittyinLA's picture

Remittances from Albanians working abroad have halved since 2007, when 951m euros accounted for 10 percent of Albania's gross domestic product (GDP).

Remittances always drop, this happens as families from the donor countries grow older, smaller and die.

Albanians going home may not bode well for Kosovo & Serbia-which aren't finished "settling" their dispute, this could easily re-ignite the Balkan's war(s) which is really a war between Islam & non-Islam.

Mon, 04/09/2012 - 15:21 | Link to Comment ekm
ekm's picture

I am a christian orthodox and a religious one.

In Albania, religion is personal matter and the gov is totally out of it. It's our mentality.

Most of people are agnostics and atheists. Few go to churches and much, much fewer to mosques. My brother is from orthodox background and has married a girl from muslim background. Albanians are mostly irreligious.

The whole islam vs non islam thing DOES NOT apply to Albania and Albanians. Nobody gives a shit about it over there. It's nobody's business, just a personal matter.

Mon, 04/09/2012 - 16:17 | Link to Comment NuckingFuts
NuckingFuts's picture

Gezuar. 

Mon, 04/09/2012 - 16:20 | Link to Comment ekm
ekm's picture

LOL

Cheers

Mon, 04/09/2012 - 23:20 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

is that where you usta "live under communism" b4 you excaped to,000,000 canada?

or have i got the wrong "ekm"?

Tue, 04/10/2012 - 00:02 | Link to Comment ekm
ekm's picture

:)

Correct.

Tue, 04/10/2012 - 00:08 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

russian ortho?  greek?  latin?  lutheran?  anglican?  african episcopal baptist? 

so was this easter for you, too?

or do canadians do it like thanksgiving?  ~~~{:o)

Mon, 04/09/2012 - 18:34 | Link to Comment albanian
albanian's picture

Gezuar__

Mon, 04/09/2012 - 19:24 | Link to Comment ekm
ekm's picture

Po e mbaj barren i vetem...

Mon, 04/09/2012 - 18:58 | Link to Comment Yen Cross
Yen Cross's picture

 Good on ya! I'm Christian as well.  That usd/cad parity thing is making Niagra Falls look expensive! Any thoughts EKM?

  One Air Conditioning salesman to another?

Mon, 04/09/2012 - 19:22 | Link to Comment ekm
ekm's picture

CAD is a petro-dollar. Whoever buys canadian crude must pay in CAD. Hence, will have to exchange USD with CAD hence demand for CAD.

Crude oil up, CAD goes up. Crude oil down, CAD goes down. My forecast and money is on crude oil at $50/barrell withing 3 - 6 months which would make CAD go down to 75c US.

You play it everyday, but I play it patiently with HOD on TSX. I don't have your stainless steel guts.

Mon, 04/09/2012 - 21:05 | Link to Comment jimmyjames
jimmyjames's picture

Crude oil up, CAD goes up. Crude oil down, CAD goes down. My forecast and money is on crude oil at $50/barrell withing 3 - 6 months which would make CAD go down to 75c US.

************

Don't forget the housing bubble that's yet to pop and further more-Canada has no gold reserves-

China implosion will weigh heavy on Canada as well-

I'm hedged CAD with USD-

Mon, 04/09/2012 - 21:50 | Link to Comment ekm
ekm's picture

No doubt, but there's no way to predict when it's going to collapse (housing market that is).

Tue, 04/10/2012 - 00:14 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

TSX?

man, you gotta have steel nads just to walk by that place!

mark twain knew what he saw talking aboot, imo...  eh? 

Mon, 04/09/2012 - 23:43 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

you have a long on the albanian oil thingy and a short on the CAD b/c of the oil price tanking?  or something?

wtf, dude?  this is zH, remember?

somebody get the salts!  i feel an attack of the vapours coming upon me!

where's my fuking bong?

j_j strikes again, BiCheZ!

[soon i will run a prop bet in how much he must be worth; maybe over/under?  $10Mil?  at least, huh?  j_j:  is that too low?]

Tue, 04/10/2012 - 01:19 | Link to Comment jimmyjames
jimmyjames's picture

you have a long on the albanian oil thingy and a short on the CAD b/c of the oil price tanking?  or something?

***********

I have a long on the jr. oil company that's involved in a high risk/reward play with an elephant hunter ie: shell-

Because i am a canadian and hold/get paid/deal in CAD-i am hedged that currency with USD-

I'm also hedged with gold-

What's the big fucken deal about that?

Mon, 04/09/2012 - 18:59 | Link to Comment Madrid2020
Madrid2020's picture

From what I've heard nobody gives a shit about much in Albania,except keeping their goats' virginity.

Mon, 04/09/2012 - 19:39 | Link to Comment ekm
ekm's picture

Fair enough. I never said anybody cared about Albania, besides albanians.

I was born and raised in the capital, Tirana, don't know much about goats, but ...girls...............oooh...real mediterranean women, I mean...women.

Mon, 04/09/2012 - 20:08 | Link to Comment robertocarlos
robertocarlos's picture

And you still live in Tirana. :)

Mon, 04/09/2012 - 20:33 | Link to Comment ekm
ekm's picture

I get your point...but I wouldn't be able to find a job I wanted in Tirana. The negative trade off is that women here (Canada and northern half of USA) believe in the charter of women's rights that somehow makes them "un-women", you get the point. 

Tue, 04/10/2012 - 06:13 | Link to Comment Pseudolus
Pseudolus's picture

Bingo!

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