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Credit Suisse Explains "The Real Issue", And Why There Is Two Months Tops Until France Is In The Bulls Eye
Credit Suisse's William Porter is strangely laconic and oddly brief in his latest issue of the European Credit Flash titled "The Real Issue":
"It’s all about Spain”, so now we are cutting to the chase. Recapitalization of the banks versus funding the sovereign is of course a semantic issue given the nature of the interplay. But it enables the attempted finesse we describe below.
"Portugal cannot rescue Greece, Spain cannot rescue Portugal, Italy cannot rescue Spain (as is surely about to become all too abundantly clear), France cannot rescue Italy, but Germany can rescue France.” Or, the credit of the EFSF/ESM, if called upon to provide funds in large size, either calls upon the credit of Germany, or fails; i.e, it seems to us that it probably cannot fund to the extent needed to save the credit of one (and probably imminently two) countries that had hitherto been considered “too big so save” without joint and several guarantees.
The issue can be finessed for a while by addressing the issues as bank issues and recapitalizing the banks by bond transfer. This hides from the (primary) market and is simply another manifestation of the “Sarko trade” given by the LTRO. That rally lasted four months. Given the market’s adaptive learning behaviour, we suspect that this finesse might last two. The eventual denouement should be flagged by symptoms of the failure of the credit of EFSF/ESM and/or France.
And there you have it. As evidenced by today's reaction to the bailout, which had a half life of 2 hours, and was a complete failure in 6, the market is learning much, much faster than expected. Which also means that Porter's estimate for the length of time before the next wave of the contagion tsunami strikes somewhere in the middle of the 8th arrondissement is furiously optimistic, but we agree: 2 months tops.
Which is in keeping with the Soros' estimate of T minus 3 months before the Eurozone ends without a major intervention by Germany (which will eventually happen, courtesy of a Berlin-funded DIP loan, but purely on Germany's terms), but also that of Christine Lagarde who just doubled down on Soros' three month estimate as well.
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France, first round: $2T
France, second round: $2Q
La France! Mais, non. C'est impossible!
Phhhhht!
Paris, busy working at becoming the Detroit of the East.
Has it fallen off the cliff, I have not been there since 2002. I remember 4 muslim teenagers (2 boys, 2 girls) getting on the subway next to me, when one of the girls drinking a soft drink throws the can out the subway on the next stop, middle of the day, packed subway. Even growing up in New Orleans and taking public buses everyday I did not see that.
France will be OK, they just elected a Socialist. That will fix everything.
CREFLO DOLLAR ~ The new spiritual leader of France...
The market will be taken advantage of in whatever state it is in. Quote me on it.
free market loves slavery and monopoly.
Capital controls (aka bank holiday aka ATMs shut down) are so much closer than most think. How much cash is in your pocket right now? Enough to survive a week-long bank shutdown?
Reuters reports EU officials are discussing capital controls: http://www.planbeconomics.com/2012/06/11/warning-eurozone-capital-controls-possible/
and meanwhile, in the only country showing the way to a better future, http://www.bloomberg.com/news/2012-06-07/iceland-court-sentences-ex-byr-...
week long? Thats all?
Germany will give in and bail out France but "will dictate the terms".
How will they ENFORCE THE TERMS? Thanks for the money, suckers. Time to lower the retirement age again.
Cash or real money? :)
I've started carrying two silver eagles at all times. Not for monetary use, but as conversation starters. It's much easier to educate people about finance if they approach you first. Got half of the department I work for into gold and silver bullion this way. Thanks for the link.
Great bumper sticker
Lawyers For Ron Paul Civil Rights (Voting Rights) Lawsuit FAQ
http://www.youtube.com/watch?v=MPt2nlyfmfc&feature=youtu.be
I never thought I'd be a party to the killing of so many people throughout the planet, with our drones Mr President?
What really haunts me Mr President, is that group of children we slaughtered in Afghanistan with our drones. What was it, like 17 kids at one time?
The United States can now strike anywhere on the planet with a nuclear missile within one hour.
I think that's enough of a deterrent.
Good old creflo, he'll beat them until morale improves or Fitch upgrades them whichever comes first..
So let me get this straight. The capitalist bankers create money out of thin air, have their underlings loan it out to people at 5 to 10 times the amount of money created and then sit back and make money from the interest. This is okay and electing a banker crony would have fixed thing?
The "Socialists" take the money and spread it around, even to folks who sit back like the bankers, then due to acting like a banker (Thorstein Veblen's Theory of the Leisure Class come to mind), they don't make enough money to pay the bankers parasite and this is bad. Plus, those socialists are called lazy, deadbeats, and other such derogatory names.
Anymore the evidence seems to indicate that this system has been built on false premises and ideological myths from the start, is therefore unsustainable, and deserves to collapse. However, many people are still attached to their ideologies and seek to blame those Socialist or Communists or whatever name they want to call them for causing the inevitable.
These old ideas and myths no longer serve us and we need to come up with newer models that work. However these antiquated ideas will die slowly as people won't let go of the old biases and prejudices they have come to love so easily.
@george
George, you are so in charactar with Abbey's comcept---that I must give you a green, lamenting that I cannot give a thousand.
Carry on, my friend----there is ample material just on this site to change the world.
What you wrote above is so obvious and so true, but the positions of the masses here at ZH are rigid beyond description; they are frozen in time. These dudes are not survivors, for the most part---no flexibility of mind, emotion, or body
Windmills to a man/woman but good luck you are fighting the good fight as someone once said om
Lazy minds find comfort in ideology.
Anyone expecting Germany to "save" the Euro-zone "on German terms" is dead wrong: the Wehrmacht, Luftwaffe, and Kriegsmarine are no more. Can't enforce a thing. Not on Spain and, w/in a few days, not even on pitiful Greece. I'm sure the Germans will try...but succeed only in setting off their own debt bomb. Last to go: U.S., unless Israel begins the IranWar before before the Euro-collapse. Then we go first. Or maybe all at once. That...would be beautiful. In any case, invest in lead.
Do I detect a subtle shift in your position on the timing of an Iran war?
Spain is just getting started. Any attempt to have a common monetary union with both Germany and Spain as co-members is not possible going forward.
Next stop and soon will be Italy.
Then France, and then the U.K., which is only one foot in, anyways, because the only thing it produces, unlike Germany, is banking/financial services, which have a massive net negative value (this is the real reason for the vitriol between Cameron & Merkel; Cameron, or whoever is the British P.M. (aka stooge for the banking masters), will never willingly let any alterations occur that don't include a bailout of the U.K.'s deeply over-leveraged and massively undercapitalized banking and financial sector.
It's epicly hilarious that some so-called economists believe that just because they can spot contagion, they can devise any plan to stop it, especially when the contagian is a resistant virus that is the result of decades and decades of credit/debt (they're the same thing in a fractional reserve banking system where toilet paper fiat is conjured from thin air at no cost) binging economic "expansion."
"Man it has been well said think in herds, it will be seen that they go mad in herds, while they only regain their senses slowly and one by one"
Charles Mackay
Extraordinary popular delusions and the madness of crowds.
It's simply bizarre that statists are still looking for a way to patch up the imperialist system of the past 4,000 years ... when it's patently obvious that there are no more fresh fields from which to steal resources to pay for the past profligacy. Columbus will not find a new land to plunder.
Past profligacies were solved by state-funded adventurers pushing the boundary of the known world and finding new conquests. The Spanish discovered the gold and silver hoard of the meso-Americans and simply took it from them at gunpoint and shipped it back home to prolong (for a limited period) their empire. The British discovered they could prolong their empire for a few more decades by growing opium and then shipping it into China at gunpoint in order to keep their own burgeoning pseudo-gentry sipping tea from imported fine chinaware for just a few decades longer. America itself was a means for the Europeans to continue their socialist experiment of the 'enlightenment' [sic ... lol], using America as a producer of food and 'stuff' while Europe devised new ways to do as little as possible while "redistributing" previously acquired wealth.
If the human race is to progress at all through this current mess, then it needs to come to the realisation that there is no undiscovered part of the planet left from which to fund the past profligacy and that each and every community on the planet must find a way to put away the guns and begin to trade between themselves on a "cash" barter basis.
Every adult who claims to care about their children also needs to stop using them as an ATM (through claims of future taxation) to selfishly fund wasteful excesses today.
We are at the end of the line on that past paradigm, folks!
Hence the need to get off planet.
"Every adult who claims to care about their children also needs to stop using them as an ATM (through claims of future taxation) to selfishly fund wasteful excesses today."
Amen, but first they need to realize that this is what they and everyone else are in fact doing, and then comprehend why it's bad, and then understand why it has to stop.
In other words, not a snowball's chance in Hell.
They will understand only after it's all over, when it's "only" a matter of history.
+1000
The ones with antiquated ideas will not give up on them, but they will be left behind the fastest as there's a young generation ready to embrace a new system.
Things will be fine, things will be much better actually, they will just not be the way they were.
Yes Uno, it has changed "For the Worse". It is dirtier now, it is like the French just gave up. Don't get me wrong, I love to visit France when I can, however the problem lies from illegal immigration. I'm all for people bettering their lives, but they are not, and they don't give a damn about cleanliness or France (And Spain, Italy, and so on).
I have seen a huge change in Europe in the last 10 years, not for the better...
Ah, yes! The beauty of multi-culturalism.
First time I have seen you on here Clint Liquor, maybe you have been on here for awhile and I just didn't notice.
One thing I did notice is the name, wow I don't usually get amused by a name, I laughed my A$$ off. Good one
+1 for you, my good Sir....
You know how a French woman holds her Liquor?
By the ears.
Ears? I'd go deaf.
Though I am loosing the hair on the back of my head..
I THINK HE SHOULD HAVE CAPITALIZEDas in C LI N T
or something, its been an age sinc ei was a teenager.
I have no problem with voluntary multi-culturalism. I like meeting people from different countries and backgrounds. Just the other day on a flight home I met a nice couple from New Zealand. I'd never met any Kiwis before.
Government-sponsored, forced multi-culturalism can go to hell in a handbaset.
Clint, I need to warn you that, strange as it may seem, coming out against multi-culturalism will cause you via a tortured chain of semantics, to be labled an anti-semetic somehow.
nobel prize went to someone who proved that humans like multi-culturalism for variety, but only to a certain point. After 25% or so, multi-culturalism becomes a threat and forces fight or flight decisions.
white flight anyone?
you is so racist brah.
There is no "tortured chain of semantics". Organized Jewry means to destroy the nations by open-borders globalization. That is, the multicult. And no more Whites. So the Jews don't get holocausted again. 1900: Whites 30% of world population. Now: 9%, and shrinking. 2100, barring an uprising: an extinct race.
a french friend (tall guy around 6-4) told me going to the hi-rise apartments away from the city center the resident Arabs would not allow whitey to use the elevator, no matter how old the lady/man. It was only to be used by muslims, this was back in the mid-90's, and the French girls were harassed into wearing the idiotic head garb.
I understand completely, I have experienced this in Southern France as well. I think this is more of an issue then anybody really knows if they had ever been to Europe.
The French are to a boiling point on this issue, this will be dealt with if there is a financial default. Fingers will be pointed, names will be called, something will happen.
I was back to Europe last summer, stayed with friends, you could tell things were getting tense in Europe "both financially and from an immigrant stand point".
Actually speaking from being there "Italy looked far worse off then any of them". Infrastructure was terrible, people were very down, just lac-luster overall. I am amazed they "Italians" have made it this far.
re. I am amazed they "Italians" have made it this far.
Simple - Euro 2012!!
http://www.footytube.com/video/spain-italy-jun10-120900?ref=hp_ozeit_mem
Bread and Circus!! Bread and Circus!!
Damn. I thought image was a big deal for the French (a classmate in Engineering school from Paris gave me this impression emphatically and I definitely remember the sense of pride taken maintaining Paris the time I was there, briefly and back in 98'). If the green street cleaning crews are not still doing their finest keeping those streets spiffy, like they did when I was there, noticeably addressing the apparent late night tradition of relieving oneself on the side of a building and collection of the rubbish early each morning: then, they are doomed.
I can understand budget constraints letting the City of Lights fester, but not the people.
I saw similar aggression amongst the youth while in Paris this summer, at the techno parade no less. A party atmosphere, and guys were lit up ready for battle.
A class divide was truly palpable in Paris, and the poor where not as invisible as here in the states.
On the other hand, I visited Istanbul with my wife (I am pale white Anglo and she is native Japanese) last summer. We were treated well by everyone in old Byzantium even in the areas where tourists normally don't venture. We went everywhere around the city and were helped by total strangers who thought we just might need directions. I've lived in Tokyo for 5 years, visited Shanghai, NY, Hong Kong, Singapore, Los Angeles (lived there too), Mexico City. Istanbul was the most pleasant of them all. Have to be careful when painting with a broad brush.
UNO , you'll just adore the "no go" zones that have popped up all over France in the last few years ... whenever you hear about "youths" rioting in the news ,, you can bet your last $20 gold piece it was in one of these Sharia compliant zones that the polizei refuse to enter. http://technorati.com/politics/article/no-go-zones-for-non-muslims/
Paris no es Uganda, es De'troit
"Impossible n'est pas français"
Napoléon Bonaparte
We are running out of numbers!
If it gets to this scenario, Germany leaves EZ.
... Then it is the U.K. and Japan's turn. That is when the shit will really hit the fan.
If they leave they are fucked for sure. All those bonds they own will be paid back in worthless paper which was the very reason the Euro was instituted in the first oplace - to stop the defaulting of the south on all those deutchmarks the Germans were so willing to lend to buy their shit.
Now they lend Euros with the hope that they can extract real value from the debtors. Leaving the EZ is self defeating. They will not do it.
Why not? If they leave they are fucked. If they stay.....they are fucked.
Failout.
Battle of France, Round II
http://en.wikipedia.org/wiki/Battle_of_France
Not sure what you mean by that.
I would say that it's bullshit to say that Germany wants to dominate France or anyone else. It's just not true. The Euro was a French initiative to begin with.
So was the Maginot Line.
Like a unfenced pool, an attractive nuisance.
Know what "Belgium" means in German?
Speedbump
Just sayin ...
Do you know why the streets of Paris are lined with trees?
So the German army can march in the shade.
Saw an advertisement for WWII Italian rifles in Shotgun News. "Good condition, only dropped once."
Germany not want to dominate ? Not dominate France ? Hahahaha. Merkels got a red choke ball with Hollandes name on it
Can you blame them? Or should Germany raise its retirement age from 67, while the French continue to lower it.
Get a grip.
Or while the Greeks lower theirs?
Neither Soros or Lagarde are trustworthy. Both seem to want the EURO to fall as the catalyst to causing the U.S. to fall.
From Chaos Order.
Indeed.
Out of chaos comes control
keep going... it ain't finished yet...
And out of Control comes Maxwell smart, Agent 99 and a shoe phone ....
Smart: At the moment, all the countries of Europe are about to fund a trillion dollar bailout plan, enact deposit insurance and renegotiate the fiscal union. Would you believe it?
Mr Big: I find that hard to believe Agent Smart.
Smart: Hmmm . . . Would you believe a 500 billion dollar loan from Germany and France upping its retirement age?
Mr Big: I don't think so.
Smart: How about an angry Spanish midget and two penguins with a credit card?
well played larrabee...
Smart: How about an angry Spanish midget and two penguins with a credit card?
Well, now the SEC is interested.
True "indeed."
Never let a good crisis go to waste.
tyler, why do we do we give credence to bank analysts who are part of the doomed keynsian trained/govt sponsored short sighted lemming groupthink herd of know nothings? these bank analysts are worthless, a bane on the worlds existence, and shouldnt be honored with print, especially by zh............
Because they influence the opinions of those who allocate trillions in capital.
It seems to me they are just there to reinforce the opinions of those who allocate trillions in capital.
Do people wish information or affirmation?
I spoke to a guy today who had all the problems of th world buttoned down as well as anyone on this site. He is in his late 50's and does pretty well for himself. He ended the conversation with "I'm guessing we have maybe another 20 years before this gets really serious". I think peoplewant to think this is another generation's problem.
They are hoping it holds together long enough for them to die. Unfortunately, it will not.
You are correct. I am 35 and I am hoping it crashes soon enough that I can still start over and make something of myself.
You'll be fine, because you already have a big head start. 90% of your generation will spend all their time looking backwards, wasting their time and energy trying to relive the past. It will be the future that holds all the opportunity for those who can wrap their brain around what happened and why.
Thanks. Man I hope you are right.
Some days I hope you are right... Then again, some days I wish it was another generations problem...
It's become the all consuming conundrum of the life of francis_sawyer...
Unfortunately that is not your call to make. It will be made for you. I sincerely hope when it gets made that people still have the ability to pool resources and intelligence and start anew without turning into a bunch of animals. As pessimistic as I am I am an optomist with that.
Lighten up Francis.
Had to say it. Hehehe.
Very nice! It was so obvious, why didn't I think of it?
francis_sawyer, Agreed and feel the same. I wish I had the rest of my life to prepare my kids physically for the big fucking mess. Mentally, we're almost good to go. I hope.
It will be the future that holds all the opportunity for those who can wrap their brain around what happened and why.
Excellent advise and true for anyone of any age. Isn't there a saying about fighting the last war not the next one? The French specialize in this thought process.
sschu
"I've got the brains, you've got the brawn. Let's make lots of money" ~ Neil Tennant, Pet Shop Boys
'I couldn’t live with myself any longer. And in this a question arose without an answer: who is the ‘I’ that cannot live with the self? What is the self? I felt drawn into a void! I didn’t know at the time that what really happened was the mind-made self, with its heaviness, its problems, that lives between the unsatisfying past and the fearful future, collapsed. It dissolved. The next morning I woke up and everything was so peaceful. The peace was there because there was no self. Just a sense of presence or “beingness,” just observing and watching.'[
https://en.wikipedia.org/wiki/Eckhart_Tolle
The Power of Now
past is mere memory,
the future imagined,
all power resides in the present moment.
all else is distraction.
but, of course, you know this - thanks Bringing It.
I wish we could imagine a better ending.
@fonzanoon right on brotha, right on............
Same to you Kito. All the best. I came on here knowing jack shit. You are one of many I caught on to right away. I know know jack somewhat shit.
When the reset happens I am going to drop a silver eagle on spelling/grammer lessons.
Good one. It's "grammar", by the way. That's a freebie.
Fuckin spell check ruined me....I stopped caring.
You'd do well as a regulator.
Fonzannoon: You wait and see, Mr. Knuckles. I *will* be mayor! I'll be the most powerful man in Hill Valley, and I'm gonna clean up this town.
Knuckles Good. You can start by sweeping the floor.
You can say that again.
That was sheer genius.
Fonzannoon: You wait and see, Mr. Knuckles. I *will* be mayor! I'll be the most powerful man in Hill Valley, and I'm gonna clean up this town.
Knuckles Good. You can start by sweeping the floor.
I'm lucky, if you want to call it that. Always had a knack for spelling. I write fiction, as a hobby, so vocabulary is also an interest of mine. I guess I'm a language nerd. Funny thing, I sucked at grammar in school but picked it up when I started writing with hopes of one day being published. Plus, people think you're smart if you use fancy words and know how to spell them. LOfuckinL.
In my limited defense I have a 2 yr old that sometimes likes to run up and throw shit at me while I am in deep thought on here, It makes for a lot of errors. But you nailed me with grammar. I can't blame a flying dora the explorer doll for that.
Deep and serious truth, that.
But remember, you can always blame that deep and twisted sexual perversion you try with the wife on a Flying Dora the Explorer, should she ask.....
same here Kito...
Last week I made a snarky comment basically saying WTF cares about what some whack JPM 'analyst' said about something & got poleaxed by the committee basically saying it was 'TRADEABLE' info worth 'TRILLIONS'...
~~~
TRILLIONS of what?
Gotta' analyze the people you don't like, as well as the ones you do like. This isn't (quite) a religion.
Truer words have never been said. First thing my first PM taught me was to talk to the people that disagree with you first and most often.
One of the things anti-short seller mgmt teams need to learn. Talk to the shorts. Maybe you will learn about issues you hadnt thought of, maybe you'll find small changes that will make you more shareholder friendly and MAYBE you convert them. They are the only people you will talk to that need to buy your stock.
Id love to see more posts about why Im wrong. Right now the only credible alternative to my deflationary debt default scernario is the extrnd/pretend and cntl-p scenarios. Id love to see the everythings ok scenario.
if you want to see the everything's okay scenario turn on CNBC at any point. My favorite is the 2pm hour where the numbnutz constantly wave the american flag and is pitching you the american dream at such a fevered pitch it makes you a bit nervous. I don't agree with your deflationary scenario but think you really believe in it. I think it's smart to talk to those who disagree with you but when you encounter a full blown liar who is wearing their bullshit all over their face you can trust in yourself and disregard them completely.
The world of journalism has pivoted around integrity and invented the phrase "professionalism in journalism", which is euphemism for "our sponsors have to sell product or we can't report anything at all".
Those sponsors are in business to sell their products and depressed people WILL NOT BUY ANYTHING. So they have informed media outlets that the purpose of advertising is to sell product, not pay their salaries and if they want to continue to earn those salaries, they had better keep the audience happy and in a mood to buy.
The gold peddlers are the aberration. They apparently have nowhere else to go.
Yes Crash, sponsors want to sell stuff, but IMO, it's much more sinister.
Have you ever heard of the Spanish Inquisition? I mean Tavistock Institute?
"The Tavistock of Human Relations is the nerve center for the global manipulation of human Consiousness".
http://www.youtube.com/watch?v=vZG0b02zCdg
Founded in 1921 by Sigmund Freud among others, located in the City.
Mass Media has been poison for a long time.
Don't forget Granddad: Edward Bernays.
Freud's cousin who went to the States.
CNBC are forced to wave the flag - otherwise they're analyzing a meaningless board game, and that won't do. Ctrl P is coming, like it or lump it.
Deflationary default will never be allowed to happen. It will be CNTL-P to infinity exactly because they own the P. Default is easy to pin blame. Inflation is a boogeyman not easily pinned on anyone. One thing you should remember is these fucks who have taken us down this road are skilled at avoiding blame, deflecting and creating an enemy to which they can point the finger.
They will print because it's the easiest way to extend and pretend and this is all a fairytale now.
They will do ANYTHING to keep the wheels turning, but printing is not necessarily that anything. Credit rating agencies are a constraint. They have to borrow and if the rate spikes, they have solved nothing with their printing.
An easier solution is killing people, selectively and even somewhat indiscriminately. Much smoother than printing, especially if you villify the targets first.
The ratings agencies are complicit (minus egan).
The truth will become obvious without the help of the ratings agencies. The magnitude of the toxic debt will overwhelm the printers temporarily, and we'll have a deflationary crash. After that, we'll get the hyperinflation.
And of course Crash is right. There will be war.
Agree WonderDawg (UGA?). Can't extinguish the quadrillions of debt without deflation first. THEN, major inflation when the fiat has to be deployed into real assets.
UGA indeed. Good eye.
That's my scenario as well. The printer will quiver like Bernanke's lips under the weight of quadrillions. They won't be able to create 1's and 0's fast enough.
So that's why the SCOAMF ordered all those drones!
Who would ever think of being disagreeable with the Tylers' Durden? On his own site no less...
Keep your friends close, and your enemies closer?
One man's "know nothing" is another man's "first go to source." Hard to sort all that out. ZH tries to represent different perspectives here. Like they say in AA, take what works, leave the rest. Each of us is different. I would not want the job of what to cull and what not to cull. Should they not talk about Bernanke either?
not sure that's the correct answer TD but for all your brilliant work i'll let that one pass without my usual acid-attack!
+ Kudos
Knuksie! MsC!
Nine years last Wednesday. Still getting better.
Happy B-day, my man.
Serious congrats.
The Promises just never cease to amaze, eh?
And sounds like another congrats keep comin' back's in order.
Couldn't be better.
:)
Thanks, dude. It's amazing. Total miracle. I dig it. Plus, I get to play in this market with a clear head. I can't imagine trying to trade if I was drinking. I'd come out of a blackout broke and getting margin calls. It's hard enough to make money as it is, but I'm a gambler and it's a challenge.
Thanks again, my friend. Keep on keeping on.
Tee he-eh...
Ah, the clarity factor. For the life of me, I cannot fathom, nor shall I ever, whether the normies already possess it at this level or if it is something "acquired".
I have to be very careful assuming that something so special might be by virtue simply of the what it was like, what happened and what it's like now.
To paraphrase Tyler (Chapter 16): We are not a beautiful and unique snowflakes.
Ah, tis what it tis'
(For some reason thinking of Monty Python with that line.)
Blessings be upon you, Dawg
I don't think anyone possesses clarity unless they seek it out. Fortunately for us, we have a roadmap. People that don't have a roadmap stay in the dark. Some normies might have a roadmap of their own, but most don't; they aren't even aware that they need one. People around here refer to them as "sheeple", but I prefer not to use that derogatory term. They are merely human. We have to strive to rise above our "humaness", and recognizing your shortcomings is the first step in overcoming.
And those are my words of wisdom for the day LOfuckinL
I think you're right Dawg, that no one possesses clarity unless they seek it out. they have to realise it's missing, acknowledge the lack of clarity, then desire to have it in their lives/mind before it can be known.
clarity, for me, is the absence of mind-clutter, which seems to be accumulating at high speed now, so much "information" or things to know in order to function with other clutter-types. . . clarity seems to need less in a more world.
keepin it simple, keepin' it real - grats on your nine!
Thank you, CA. I'm grateful for the chance to live it right so I'm trying to make the best of it.
Hmmm, happy birthday from a friend of Bill's, if that b'day is what I think it is.
If no one ring the bell how will you get the dogs to salivate?
Will everything please impact the fan before late August, so there can be some desperate activity at the Republican National Convention, to jostle the status-quo?
They are hopeless.
The Ron Paul delegates have a sense of history. they are powered directly by the Zeitgeist. They are like political airborn rangers behind enemy lines.
I didn't say that everything would make sense, that the blind would see, or that pigs would sing, but I would so like to see this mass perception get shaken, THEN stirred. "Jostle the status-quo" is a good start...
I'm sort of an impatient student of history. I feel like the sooner the change starts to run like a shockwave through human perceptions, the less ugly and violent it has to eventually become. Sadly, paradigm shift is already really well understood by our lords and masters. They don't want it at all. They'd prefer to delay it as long as they possibly can, at whatever cost to the herd, if the herd is going to stampede, anyway.
Sigh...
Ron needs another team AND that will fail. Repugs are lost in bullshit (as are dems). Can't fall back on what is corrupt, they are both corrupt.
We actually see things the same, I am just not as optimistic.
MsCreant - speaking of not optomistic - Rand/ Ron Sell out!?! The PTB must have very impressive greeters.
I saw a group ... I think. Are we sure?
bitch sez .. somethink. sliver.
Any rational look at French rail investments would suggest they are preparing for a Franc return - and the longer they wait the more capacity these investmemts have to absorb the flow and therefore the Franc will devalue less the longer they can extract capital from the periphery.
People just don’t seem to understand whats happening in France - from a energy perspective Lyon is becoming a walled city.
http://www.sytral.fr (go to the Projects window)
With villages 40 Km from the citadel wishing to enter the defensive curtain.(not covered in the above projects)
Google :
Nord Isère | Tignieu-Jameyzieu Tram Lyon-Cremieu : le collectif …
fr.wikipedia.org/wiki/Crémieu
Also a very long tram train line in the works using a old line (not covered above)
Google :Nord Isere Tram train Lyon-Trévoux : feu vert en vue d’un lancement en 2017
fr.wikipedia.org/wiki/Ligne_de_Lyon-Croix-Rousse_à_Trévoux
Its hard to get your head around the scale of Lyons public transport investments …. but it is also very smart - using the existing infrastructure to the max.
fr.wikipedia.org/wiki/Trolleybuses_in_Lyon
fr.wikipedia.org/wiki/Tram-train_de_l’Ouest_lyonnais
As for their regional rail policey....... its all about getting future agricultural stuff to market on rail.
The post crisis western France regional rail policey did not start with a kiss…. it started with a Cognac………
fr.wikipedia.org/wiki/Ligne_de_Beillant_à_Angoulême
fr.wikipedia.org/wiki/Gare_de_Cognac
http://www.youtube.com/watch?v=4d6sOD5rS5Y
Goggle : La modernisation de la ligne coûtera 65 M€ - SudOuest.f
La Rochelle - the Atlantic terminus of this line handles Grain exports , …….. this rail terminal has declined since the late 80s (EMU false price signal ?) due to truck competition.
They now wish to service their agricultural heartlands with rail….. the new signalling will be able to handle the mixed traffic of the line or enable a higher number of passenger railcars.
Last year on the Sarlat line…………..another sub ~1000 passengera day line with rail freight potential.
http://www.youtube.com/watch?v=3iHWKHdQt6w
Interesting. Looks like someone in charge knows about "The Long Emergency."
Yeah RFF capital budget will be about 3.4 BILLION this year - but that normally only covers about 10 -20 % of the total cost of these things., with the local and state covering the remaining ,SNCF = rolling stock etc etc etc
www.rff.fr ( go to regions select)
It also does not cover much of the Paris basins rail operations(RER) , all of the trams and metros , Corsica and the few private trains such as the Nice to Digne 1 Metre line.
www.youtube.com/watch?v=CTO-csAXNew (opening in a couple of weeks)
And who could forget the biggest EIB loan of all time !!!
www.eib.org/attachments/press/lgv-sud-europe-atlantique-en.pdf
Anecdote: 1984 came up thru Deigne to Lyon, took my first TGV 140+ mph [not kms] into Paris. All TGV reservations handled in few minutes on computer monitors. Totally smooth A-to-B, no distractions. In 1984.
Up to that point, had not heard of TGV, and it was already a running system. Dwarfed all the tourist PR from Japan about their "superfast Bullet Train". Awesome, nearly 30 years ago. Their standard SNCF rail even pushed 120 mph [not kms] back then.
Follow "Alan" at TheOilDrum.com website who acknowledges France's foresight in converting to efficient electric and diesel-electric, while currently expanding efficient rail/tramlines into all cities of medium population.
Hey Germany, what's that on your shirt? (They look down) You flink their nose ! Ireland
Hey Germany, what's that on your shirt? (They look down) You flink their nose ! Greece
Hey Germany, what's that on your shirt? (They look down) You flink their nose ! Portugal
Hey Germany, what's that on your shirt? (They look down) You flink their nose ! Italy......
Key and Peele: Flicker
http://www.youtube.com/watch?v=1t24XAntNCY