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CDU Escalates Plans For EU Treaty 'Adjustment': Wants Option For To Kick Habitually Broke Countries Out Of Eurozone

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Thu, 11/10/2011 - 15:02 | 1866990 redpill
redpill's picture

Get out, bitchez

Thu, 11/10/2011 - 15:11 | 1867001 GeneMarchbanks
GeneMarchbanks's picture

At least they're giving us an exit strategy...

Thu, 11/10/2011 - 15:13 | 1867057 dlmaniac
dlmaniac's picture

Germans have themselves to blame: Why did they invite the PIIGS to the party to begin with?

Thu, 11/10/2011 - 15:16 | 1867071 Wolferl
Wolferl's picture

Cause everybody told us to be the good guys now. ;-)

Thu, 11/10/2011 - 15:19 | 1867092 GeneMarchbanks
GeneMarchbanks's picture

Weimer, Hitler, that horrible Eurovision song from last year. You mofos are better off forgetting...


Thu, 11/10/2011 - 15:24 | 1867118 Wolferl
Wolferl's picture

Weimar is a nice city.

Thu, 11/10/2011 - 15:36 | 1867181 GeneMarchbanks
GeneMarchbanks's picture

There you go. Think warm thoughts. Unlike the grim Kant, Hamann is great read. Heine too.

Thu, 11/10/2011 - 15:38 | 1867193 Wolferl
Wolferl's picture

Damn. I love Kant.

Thu, 11/10/2011 - 15:42 | 1867210 GeneMarchbanks
GeneMarchbanks's picture

That's disappointing.

Thu, 11/10/2011 - 15:45 | 1867222 magpie
magpie's picture

You should read Herder's Metakritik. Best German philosophy book around.

Thu, 11/10/2011 - 15:58 | 1867295 Wolferl
Wolferl's picture

Herder is a giant few people know about.

Thu, 11/10/2011 - 15:24 | 1867119 Oh regional Indian
Oh regional Indian's picture

Englad was kept out but in as a test case.

it worked.

England is ruined.

Unwashed, Wrung, Re-tired


Caveat Emptor

Thu, 11/10/2011 - 15:22 | 1867112 DormRoom
DormRoom's picture

cuz Goldman Sachs gave the PIIGs a nice shade of lipstick

Thu, 11/10/2011 - 15:29 | 1867143 walküre
walküre's picture

I would give you 1,000 green arrows!

Thu, 11/10/2011 - 15:33 | 1867164 Alex Kintner
Alex Kintner's picture

The PIIGS Pheromones were alluring. But they fermented into Fearomones.

Thu, 11/10/2011 - 15:46 | 1867236 Duuude
Duuude's picture


"cuz Goldman Sachs gave the PIIGs a nice shade of lipstick"




Musta been red

Thu, 11/10/2011 - 15:40 | 1867201 Josh Randall
Josh Randall's picture

Boy, you MU's sure can party...


Thu, 11/10/2011 - 19:35 | 1868200 Buck Johnson
Buck Johnson's picture

Your exactly right, many of those PIIGS shouldn't have been able to get into the EU much less the euro.  I think it was three things.  One, the bigger countries saw this as an opportunity to control the smaller ones financially and they needed them to buy or take much of their excess exports and services.  Two the elite in the banking and govt. circles wanted a union of europe in order to push their new world agenda.  And three, they where presented information that was cooked by Goldman Sachs to help countries like Greece and others to look viable for the EU.

Thu, 11/10/2011 - 15:24 | 1867108 TruthInSunshine
TruthInSunshine's picture

Markets are ripe to crash.

This is far worse than 2008-2009, which didn't involve intractable problems (there may be something that some term a 'solution' in the offing, but it will be a sad joke and farce, as all proposed solutions to date have been, and it will inevitably involve massive pain to the maximum amount of 'risk on players' for an extended, butt hurt period of time) having to do with SOVEREIGNS and their nationalized 'private' banks.

Furthermore, back in 2008-2009 there was a cushion that had both accrued on balance sheets (as phantom and fleeting as it was) that could be whittled away at and used as a buffering method of trying to engineer a less hard landing (as hard as the landing turned out to be) and central banks, including the one headed by The Bernank, hadn't shot their wad.

Add to the accumulated private and public sector debt, which now desperately needs to be deleveraged, the incredibly economic fundamental weakness and 'jobs debt', which have only grown greater since 2008, giving less of an ability for monetary policy makers, governments (who've seen revenue fall and the outlook for future revenue get bleaker) and private sector actors to 'get their consumption on,' and I'm going to bet we're now underway in the 2nd wave of the financial and economic that everyone has been anticipating, yet hoping wouldn't arrive, or could be postponed further (unless they were short, in which case, they are probably about to have a very good stretch).

The Bernank broke all markets.


Caveat Emptor on the BTFD, bitchez.


Now we really are going to find out who is too big to fail and who is too big to save.

*p.s. The Bernank & Paulson-Geithner, instead of letting the forest fire clear out all of the dead wood, scrub and other flammable material that maks for great ignition sources of future and more damaging forest fires, doused the fire in 2008-2009 with TARP/TALF/QE1, 2, 2.5 injections, rescuing the Very Important Friends of the New York Branch of the Federal Reserve 'Bank,' while failing to do anything remotely constructive in addressing the fundamental illness of the real economy, and the bitch is going to burn hotter this time.

Thu, 11/10/2011 - 15:31 | 1867123 DormRoom
DormRoom's picture

In a world where 2 + 2 = 4, there's no way PIIGs or Germany doesn't exit in 12 months.  They're giving the plutocracy time to buy hard, or convert assets, before the middle class is left holding the bag.


Class struggle is more pronounced now than at any time in the last half century.  But it is being masked by the public relations industry.


Without cheap, and easy credit scar tissues are being exposed.



Thu, 11/10/2011 - 15:34 | 1867172 walküre
walküre's picture

Presently the "middle class" is the buffer between poverty and wealth.

As a buffer they act as bootlickers to the top and kicking down on the bottom. When they change their loyalties and recognize the top for what it is, an insatiable parasite with no productive value to the rest of the world, it will be too late.

The bottom never had a chance to get heard. The top plays the middle very well until the top doesn't care anymore!

Thu, 11/10/2011 - 15:42 | 1867211 centerline
centerline's picture

Until the middle can longer support the top.

Thu, 11/10/2011 - 15:58 | 1867294 MachoMan
MachoMan's picture

This.  The paradox of production

Thu, 11/10/2011 - 15:52 | 1867268 MachoMan
MachoMan's picture

That's always what the middle class is...  it's just that there are less people to complain when the middle class is a higher % of the populace and the table scraps are larger...  in other words, the problem is less noticeable...  but ever present.

The same in virtually any system...  more or less.

Thu, 11/10/2011 - 15:34 | 1867173 GeneMarchbanks
GeneMarchbanks's picture

Sometimes you make stone-cold sense and I think you deserve green(pun intended) but then you do this:


Thu, 11/10/2011 - 15:43 | 1867214 DormRoom
DormRoom's picture

“If you're not a liberal at twenty you have no heart, if you're not a conservative at forty you have no brain.” -W. Churchill

Fri, 11/11/2011 - 04:19 | 1869214 View From Germany
View From Germany's picture

Well, in Churchills time that made sense - if you had a bit of education or some heritad weatlh, at 40 you were a made man, and, of course interested in maintaining the status quo.

But today?


Thu, 11/10/2011 - 15:35 | 1867176 TruthInSunshine
TruthInSunshine's picture

I just wanted to add one comment about something the Abby Joseph 'I Make Money Even If You Lose Your Ass/iTulip' Cohen's of the world spout off about all the time; the notion (pun intended?) that there's publicly traded U.S. corporations are flush with cash.

Abby would never complete what could be a constructive and rational fully analyzed assessment by adding to that statement that these same U.S. publicly traded corporations have now accrued a record 12+ trillion in debt.

But not to worry, "there's a lot of cash on the sidelines" (much of it in highly volatile, *subject to quick and painful loss account types, not to exclude 401(k)s, and all will be well, according to cnBSc.

Thu, 11/10/2011 - 15:52 | 1867231 GeneMarchbanks
GeneMarchbanks's picture

' "there's a lot of cash on the sidelines" (much of it in highly volatile, *subject to quick and painful loss account types, not to exclude 401(k)s, and all will be well, according to cnBSc. '

Uh-huh. At best, if there's any left, it is immobile.

Thu, 11/10/2011 - 15:41 | 1867207 PaperBear
PaperBear's picture


Thu, 11/10/2011 - 15:28 | 1867137 pauhana
pauhana's picture

You gotta love those "Christian" Democrats!

Thu, 11/10/2011 - 15:41 | 1867203 jdelano
jdelano's picture

Td--been thinking, and maybe this is a bit egocentric, but it seems like whenever you guys expose something that is going to nuke the market, tptb immediately dump all their resources into masking the problem. Since this is the only credible skeptical analysis forum out there that moves in real time, I'm convinced that tptb are assiduously monitoring this site to figure out where the fire is that they have to put out--what I'm getting at is, next time you guys see a really nasty hole in the market, maybe keep it to yourselves for a while and see if they figure it out on their own or not. Hate to think zh is inadvertently doing the idiots a huge favor....

Thu, 11/10/2011 - 15:02 | 1866994 Subprime JD
Subprime JD's picture

Death to the EuroPonzi!!

Thu, 11/10/2011 - 15:04 | 1867003 bob_dabolina
bob_dabolina's picture

O/T just shorted oil

Thu, 11/10/2011 - 15:16 | 1867075 GeneMarchbanks
GeneMarchbanks's picture

I'm frozen... I want to... just can't bring myself to do it. I was thinking clearly earlier but now I'm self-conscious. Yesterday it should've been down three bucks IMO.

Thu, 11/10/2011 - 15:05 | 1867011 Smiley
Smiley's picture

What a bunch of fucking idiots!  No sympathy.

Thu, 11/10/2011 - 15:05 | 1867013 blu
blu's picture

Such artfulness! We are being presented with some of the best theater the world has seen since -- well I suppose since some time in the 1700's.

Thu, 11/10/2011 - 15:06 | 1867014 undercover brother
undercover brother's picture

That's the ticket Merkel.  Allow them to exit and at the same time to save face.   You go girl! 

Thu, 11/10/2011 - 16:06 | 1867321 NotApplicable
NotApplicable's picture

This is just the next step in their Hegel exercises. The backlash from which will create the mandate they could not achieve via the ballot box years ago.

Thu, 11/10/2011 - 15:06 | 1867020 Deadpool
Deadpool's picture

"Voluntary" with a gun to your head.

Thu, 11/10/2011 - 15:08 | 1867028 Smiley
Smiley's picture


Thu, 11/10/2011 - 15:43 | 1867218 pmcgoohan
pmcgoohan's picture

The market has been real chatty today

Thu, 11/10/2011 - 15:08 | 1867032 Mediocritas
Mediocritas's picture

I wonder if this has anything to do with the recent ISDA "no such thing as a voluntary default" decision? In other words, if a euro member voluntarily leaves the euro (with intent to depreciate like hell), it doesn't count as a credit event.

Thu, 11/10/2011 - 16:23 | 1867383 NotApplicable
NotApplicable's picture

Well, they're just words. It isn't like they mean anything.

Thu, 11/10/2011 - 15:09 | 1867038 Tramp Stamper
Tramp Stamper's picture

I think the voluntary part was going to be a way for Germany to opt out and say " To hell with all of this shit "

Thu, 11/10/2011 - 15:14 | 1867062 undercover brother
undercover brother's picture

wouldn't blame them. i was under the impression they were reluctant to sign that treaty from the get go.  

Thu, 11/10/2011 - 15:22 | 1867086 Dr. Engali
Dr. Engali's picture

I love that guy. I wish we had a few like him in our body politic.

Thu, 11/10/2011 - 15:46 | 1867239 PaperBear
PaperBear's picture

Which body politic ?


USA has Ron Paul.

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