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Dear Germans: Bring Out Ze Checkbooks

Tyler Durden's picture


Something funny happened on the road to a "fixed" Europe.

A week ago we presented the €2.5 trillion closed liquidity loop at the heart of Europe's (solvency and mercantilist) problems: the cumulative capital account deficits of Europe's import countries (virtually all of them except for Germany and Holland), and the under the table funding mechanism, in the form of Germany's subsidizing of said countries via the ECB TARGET2 cash settlement process. In simple terms, in order for the PIIGS to import German "stuff", Germany had to fund their economies in a very roundabout, yet unmistakable fashion (see chart). Well, as the latest update from TARGET2 shows (courtesy of Sean Corrigan of Diapason), the fact that this now accepted enabling mode of existence continues, as nothing has changed in Europe except for Greece going bankrupt, and all the PIIGS still pretending they have fixed their economies when in reality all that has happened is a $1.3 trillion cash injection providing some very brief dry powder to drive bonds to lower yields temporarily, Spain and Greece have just posted their biggest draw on TARGET2 bringing the total to just under €400 billion! Congratulations Germany - This is the amount that Jens Weidmann and the German Bundesbank will have to fund to keep the ponzi going. But at least BTPs and Bonos will be at 0.00% as the ECB floods the market with a quadrillion in paper at a point in the very near future to pretend that the system is solvent judging by bond yields.

To all our German readers: sorry. Yes, extend and pretend actually has a price.

To summarize: the bond market, courtesy of the ECB, has signalled the all clear, if only for a brief amount of time (remember what happened with the first LTRO back in 2009). In the meantime, the PIIGS economies are getting worse and worse. But for the time being Germany can keep them afloat. However, Germany, unlike the ECB can not print money. And in fact, largely does not want to.

And here's the Bundesbank. How does one say exponential in Germano-Grecian?


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Wed, 03/14/2012 - 15:00 | 2255312 trav7777
trav7777's picture

NSF bitchez

Wed, 03/14/2012 - 15:07 | 2255349 nope-1004
nope-1004's picture

More like SNFU.


Wed, 03/14/2012 - 15:16 | 2255390 SilverTree
SilverTree's picture

"fixed" meaning neutered?

Wed, 03/14/2012 - 16:18 | 2255634 JLee2027
JLee2027's picture

10 year T-bills are getting interesting.  I wonder if the FED is helping Europe and has run out of fingers to put into the dyke.

Wed, 03/14/2012 - 16:22 | 2255648 redpill
redpill's picture

What does Blythe Masters have to do with this?

Wed, 03/14/2012 - 16:29 | 2255676 The Big Ching-aso
The Big Ching-aso's picture



These bailouts could've put a new 2012 Porsche 911 in the hands of every driving German instead of a 1988 Vanagon.

Wed, 03/14/2012 - 16:38 | 2255703 redpill
redpill's picture

If gas prices keep rising we might all wind up buying '88 Vanagons

Wed, 03/14/2012 - 17:11 | 2255821 lostintheflood
lostintheflood's picture

at least you can live in a vanagon...

Wed, 03/14/2012 - 17:22 | 2255857 cognus
cognus's picture

not just LIVE< you can grow reefer in that bad boy

Wed, 03/14/2012 - 18:15 | 2255896 redpill
redpill's picture

AND then you can use that reefer to build more vans!  Amazing!


Wed, 03/14/2012 - 21:50 | 2256515 Harlequin001
Harlequin001's picture

See, it's fixed!

Literally EVERYTHING's on the up and up...

Wed, 03/14/2012 - 18:51 | 2256117 trebuchet
trebuchet's picture

nothing to fade here, move on....... 

Wed, 03/14/2012 - 16:55 | 2255755 VanceEva1
VanceEva1's picture

my classmate's sister makes $82 hourly on the internet. She has been out of work for 10 months but last month her income was $17192 just working on the internet for a few hours. Read more on this site .... 

Wed, 03/14/2012 - 18:01 | 2255947 5880
5880's picture

Is she showing her vag?

If not I'm out

Wed, 03/14/2012 - 20:18 | 2256338 TheFourthStooge-ing
TheFourthStooge-ing's picture

Yes, she's naked, but when she's fellating the goat, the webcam is focused on her face.


Wed, 03/14/2012 - 18:46 | 2256098 CPL
CPL's picture

Shoe on head, sharpie in pooper.  You know the rules.

Wed, 03/14/2012 - 17:16 | 2255843 max2205
max2205's picture


Wed, 03/14/2012 - 15:29 | 2255457 LongSoupLine
LongSoupLine's picture

I don't think there's a mountain face in the German Alps as steep a climb as in that chart!

Wed, 03/14/2012 - 16:52 | 2255727 The Big Ching-aso
The Big Ching-aso's picture



Ya, in Berlin they'll want to see your bank balance first before you can enter Germany through Checkbook Charlie.

Wed, 03/14/2012 - 21:43 | 2256500 StychoKiller
StychoKiller's picture

Weimar V2.0!  A lot like Weimar V1.0, except a lot slower (for now...)

Wed, 03/14/2012 - 15:50 | 2255521 It was not me
It was not me's picture

So Jim Grant was right after all in this video:

Wed, 03/14/2012 - 20:27 | 2256347 TheFourthStooge-ing
TheFourthStooge-ing's picture

The naked woman in that video isn't Jim Grant. The real shocker wasn't the goat, but the credits at the end:

Goat Rental Service provided by Armada Markets Talent Agency.


Wed, 03/14/2012 - 16:49 | 2255732 Nussi34
Nussi34's picture

Let´s bomb the fucking PIFGIBS!

Wed, 03/14/2012 - 22:14 | 2256545 Alexandros
Alexandros's picture



...the barbarians, who forced beautiful Europe to get down Zeus’ “back” and made her a prostitute.

...the unworthy Europeans, who in 1945 “took Europe down” from “Mount Olympus” and in 2012 relinquished “enslaved” Europe to the Phoenician loan sharks.


…Germany betrayed Europe once again. Germany handed all the European countries over to the Jewish loan sharks, by naively believing that this way they would let Germany free. Germany put the European family at the “target” of the “markets” and it is collecting profits every time one of its members gets “executed”. The loan sharks who pretend to be the “hunters” are shooting safely in the European “hen house” because Germany has managed to “raise walls around” Europe. One after the other, Europeans are destroyed so that Merkel can pay the stupid and artificial German debts to the loan sharks. 



Wed, 03/14/2012 - 15:02 | 2255313 Cognitive Dissonance
Cognitive Dissonance's picture

"Something funny happened on the road to a "fixed" Europe."

May I suggest they try this to "fix" the Fed?

In fact, let's just cut off the head entirely and be done with it.

Wed, 03/14/2012 - 15:04 | 2255341 AmazingLarry
AmazingLarry's picture

Nah, just sclap'em Aldo Raines style. I want souvenirs. 

Wed, 03/14/2012 - 15:21 | 2255422 Cognitive Dissonance
Cognitive Dissonance's picture

Aldo Raines

Wed, 03/14/2012 - 15:56 | 2255511 Zero Govt
Zero Govt's picture

scalping indeed's where all this funny money goes (hat tip jim Sinclairs website today) where (Irish) taxpayers are put on the hook by politicians for financiers that bring them no material return or benefit enforced by ECB demand (ie. money/debt-slavery for nothng)

Note the chirpy ECB tosser (just out of Uni wet behind the ears living in a LaLa Land ivory tower up in Brussels) being brought down to reality with a bump and left speechless.. welcome to your briefest of visits to the real world academic arsewipe

Wed, 03/14/2012 - 16:56 | 2255763 trebuchet
trebuchet's picture

now that is a link worth watching ! nice one

Wed, 03/14/2012 - 17:38 | 2255903 Troll Magnet
Troll Magnet's picture

can you imagine one of our own "journalists" confronting a bankster like that?  damn...

Wed, 03/14/2012 - 20:38 | 2256369 TheFourthStooge-ing
TheFourthStooge-ing's picture

Damn, that guy didn't take bullshit for an answer! I thought all TV reporters had been castrated, but in Ireland one has clearly slipped through unscathed.


Wed, 03/14/2012 - 19:34 | 2256231 BigJim
BigJim's picture

Excellent... now I wonder why THAT wasn't widely shown on TV?

Wed, 03/14/2012 - 15:51 | 2255529 roadhazard
roadhazard's picture

"Never fight in a basement."

Wed, 03/14/2012 - 16:09 | 2255578 Azannoth
Azannoth's picture

Parasitic jews scalping Germans, where did we see this movie again? Ah it was running on the streets of Germany for centuries past (with interludes)

The Parasitic Jew and the Hardworking German the perfect parasitic symbiosis

The Dilemmas of Jewish Power

Wed, 03/14/2012 - 16:28 | 2255670 SMG
SMG's picture

Parasitic Luciferian Illuminati not Jewish People.

Wed, 03/14/2012 - 19:03 | 2256142 Max Hunter
Max Hunter's picture

SMG.. kinda.. problem is, when you do that, you give them the cloak they seek and all the PC they need..

Wed, 03/14/2012 - 19:10 | 2256177 trav7777
trav7777's picture

only someone like jewhen could write that

jews boil down to right = good for jews, wrong = bad for jews

Wed, 03/14/2012 - 16:20 | 2255641 Greyhat
Wed, 03/14/2012 - 15:02 | 2255324 bugs_
bugs_'s picture


Wed, 03/14/2012 - 15:03 | 2255329 ziggy59
ziggy59's picture

The FED is Hydra...

Wed, 03/14/2012 - 16:34 | 2255337 TruthInSunshine
TruthInSunshine's picture

Zee price stabeeelity.


Wed, 03/14/2012 - 15:04 | 2255340 PontifexMaximus
PontifexMaximus's picture

Ze tschörmens do not know about that, taking into consideration a population of 80 mio., who cares. Bundesliga, Weiss- and Currywurst are important. They know full well their destiny: the wallet ready to open for GR, E, I and......As long as Mario is doing his job (agreed with BB) Angela is only staffage!

Wed, 03/14/2012 - 15:05 | 2255343 TradingJoe
TradingJoe's picture

Meine Fresse, woher so viel Geld?!?! :))

Wed, 03/14/2012 - 16:09 | 2255610 sunaJ
sunaJ's picture

Hitler finds out about the coming German inflation...

Wed, 03/14/2012 - 18:23 | 2256018 fuu
fuu's picture

<golf clap>

Wed, 03/14/2012 - 18:23 | 2256022 blindman
blindman's picture

that was brilliant, imho.

Wed, 03/14/2012 - 19:34 | 2256242 BigJim
BigJim's picture

Haha, the look on the Generals' faces when Hitler says at least they've still got their gold! Priceless.

Wed, 03/14/2012 - 20:52 | 2256401 TheFourthStooge-ing
TheFourthStooge-ing's picture

Of all the "Hitler finds out about..." videos that I've seen, this has to be one of the best. From start to finish, it's firing on all cylinders, and the unexpected ending was perfectly timed.


Wed, 03/14/2012 - 15:07 | 2255350 yogibear
yogibear's picture

Endless bailouts for Greece and the rest of the PIIGS. Raise the retirement age for the ze Deutschland. While the PIIGS/Club Med gets early retirement.

Wed, 03/14/2012 - 17:06 | 2255798 Rynak
Rynak's picture

Is it time again to play the national and class warfare card again, so that those actually benefiting can laugh they asses off, while the suckers duke it out with each other?

And retirement? Fucking retirement? Hellooo, there are way too few jobs, partially thanks to the stupid system in place... who care at what age people retire: If they retire early, they get paid without working, and if they retire late, the youngsters get paid without working..... welcome to the world of non-infinite ressources, wichskopf.


Wed, 03/14/2012 - 18:56 | 2256127 donsluck
donsluck's picture

And ever escalating efficiency. The earth cannot absorb the waste generated by full employment and escalating efficiency. Leasure is, actually, the only solution.

Wed, 03/14/2012 - 19:36 | 2256249 BigJim
BigJim's picture

Eleanor Roosevel was saying the same thing back in the thirties, and she was just as wrong then. Research the 'lump of labour fallacy', Donshmuck.

Wed, 03/14/2012 - 19:55 | 2256267 Rynak
Rynak's picture

I wouldn't call that "efficient" except of if one only considers small-scale short-term aspects.

And as for full-employment being unsustainble - sorry, but: bullshit. To understand why... let's take a few steps back, and do what almost no one does: look at the big picture economically (yes, that's almost "communist"):

We have X amount of people, requiring Y capital to survive, and we have Z demand in workhours (employers).

Now, if we were to actually think capitalism trough completely (something which many people who call themselves capitalists do NOT do), this is a straight forwards supply and demand situation:

In theory, the amount of workhours and the price per hour should adjust so that those providing supplying those workhours, can cover their costs, with the current demand of workhours (employers).

Thus, wages compared to now, would rapidly go up, and the amount of workhours go down.

If this sounds "wrong" to any "free market" or "capitalism" proponent, then i'm sorry, but you put personal obsessions and bias over actual free market and capitalism principles.

Why? Because, all the above means, is that there are suppliers (employees) who need to cover their costs..... and demanders of workhours who "buy" those workhours.... to produce goods, which then are SOLD RIGHT BACK TO THAT VERY WORKFORCE.

So, it is a closed loop. It is straightforwards to make this loop run without deficit.... IF one considers the interaction of both parties (suppliers and sellers) and see's them as a whole.... instead of isolated parallelworlds, where one can infinitely exploit the other, without the exploiter suffering from the exploitation of the exploited.

Natural ressources are an entirely different (but important) topic, that decides the total sustainable lifestandard and population count..... but employment percentage, has nothing to do with that.

Thu, 03/15/2012 - 07:12 | 2257079 Bobbyrib
Bobbyrib's picture

"In theory, the amount of workhours and the price per hour should adjust so that those providing supplying those workhours, can cover their costs, with the current demand of workhours (employers).

Thus, wages compared to now, would rapidly go up, and the amount of workhours go down.

If this sounds "wrong" to any "free market" or "capitalism" proponent, then i'm sorry, but you put personal obsessions and bias over actual free market and capitalism principles.

Why? Because, all the above means, is that there are suppliers (employees) who need to cover their costs..... and demanders of workhours who "buy" those workhours.... to produce goods, which then are SOLD RIGHT BACK TO THAT VERY WORKFORCE.

So, it is a closed loop. It is straightforwards to make this loop run without deficit.... IF one considers the interaction of both parties (suppliers and sellers) and see's them as a whole.... instead of isolated parallelworlds, where one can infinitely exploit the other, without the exploiter suffering from the exploitation of the exploited.

Natural ressources are an entirely different (but important) topic, that decides the total sustainable lifestandard and population count..... but employment percentage, has nothing to do with that."


You should make this into a Disney film (cartoon version).

Wed, 03/14/2012 - 15:08 | 2255357 JPM Hater001
JPM Hater001's picture

Sittin' in the mornin' sun
I'll be sittin' when the evenin' come
Watching the ships roll in
And then I watch 'em roll away again, yeah

I'm sittin' on the dock of the bay
Watching the tide roll away
Ooo, I'm just sittin' on the dock of the bay
Wastin' time

Wed, 03/14/2012 - 15:59 | 2255563 roadhazard
roadhazard's picture

Been there, done that...with my ax. circa 1970 ...  them were the daze


rock on

Wed, 03/14/2012 - 16:15 | 2255622 youngman
youngman's picture

Evertime I hear that song I think.......get a job asshole

Wed, 03/14/2012 - 16:42 | 2255712 Anglo Hondo
Anglo Hondo's picture

Sorry, asshole died before the song was released.  Bit like the euro really, just wasting time and road.

Wed, 03/14/2012 - 15:12 | 2255370 cnx
cnx's picture

Where is the problem? Just print any missing amount of money, conduct LTRO X>10, and agressively assuring the public via MSM that there will be definitely NOO inflation whatsoever- everything is fixed!!

Wed, 03/14/2012 - 15:22 | 2255428 in4mayshun
in4mayshun's picture

and if our food manufacturers can cut it with 20% toxic garbage they can claim inflation is under control

Wed, 03/14/2012 - 16:02 | 2255573 TruthInSunshine
TruthInSunshine's picture

Zee price stabeeelity.



03-14 15:29: AK Steel (AKS) announces price increases for carbon steel products

Wed, 03/14/2012 - 15:12 | 2255372 OutLookingIn
OutLookingIn's picture

The Dutch are not a happy people. They want out of the Euro. That wild man, Gert Wilders has more and more backing from the electorate with each passing day!


Wed, 03/14/2012 - 15:15 | 2255386 masterinchancery
masterinchancery's picture

The Dutch see the future, and it doesn't work.

Wed, 03/14/2012 - 16:33 | 2255689 debtor of last ...
debtor of last resort's picture

The past didn't work, maybe the future will. Today we are surrounded by a bunch of f*cking liers. Tomorrow we will put them on trial.

Wed, 03/14/2012 - 18:09 | 2255974 Things that go bump
Things that go bump's picture

Yes, they will get fair trials and then we will hang them on live TV. 

Wed, 03/14/2012 - 18:44 | 2256088 DosZap
DosZap's picture


The Dutch see the future, and it doesn't work.

Wed, 03/14/2012 - 15:19 | 2255404 gaoptimize
gaoptimize's picture

Let's hope the Dutch people, as they wake up to his monetary and fiscal common sense, realize he is right about demographic issues as well.

Wed, 03/14/2012 - 15:26 | 2255442 Agent P
Agent P's picture

There are only two things I can't stand in this world...People who are intolerant of other people's cultures...and the Dutch.

Wed, 03/14/2012 - 15:55 | 2255541 tickhound
tickhound's picture

The French have always been there when they've needed us.

Wed, 03/14/2012 - 16:36 | 2255699 CompassionateFascist
CompassionateFascist's picture

'cept when froggy fleet cut Brit supply lines at Yorktown. Of course, that was a long time ago.

Wed, 03/14/2012 - 18:58 | 2256131 Amish Hacker
Amish Hacker's picture

General Patton is supposed to have said, "I'd rather have the German army in front of me than the French army behind me."

Wed, 03/14/2012 - 17:14 | 2255837 debtor of last ...
debtor of last resort's picture

We just don't like being forced into multi cul or weird 'world' currency's. Or both.

Wed, 03/14/2012 - 18:28 | 2256036 Agent P
Agent P's picture

It's just a quote from an Austin Powers movie.

Wed, 03/14/2012 - 17:21 | 2255855 cognus
cognus's picture

is there SOME way we can fix Geert Wilders' birth certificate so HE can run for POTUS?   Please.... PLEASE


Wed, 03/14/2012 - 17:43 | 2255913 The Alarmist
The Alarmist's picture

Yeah ... if you dig up Dr. U.K.L. Lee, I'm sure that for a song he will certify that Geert was born in Hawaii.

Wed, 03/14/2012 - 15:13 | 2255373 JPM Hater001
JPM Hater001's picture

Whoops!  Market just dipped red.

Need more Helium!!!

Wed, 03/14/2012 - 15:15 | 2255384 Dr. Engali
Dr. Engali's picture

Quick put out a QE rumor!

Wed, 03/14/2012 - 15:27 | 2255444 Sudden Debt
Sudden Debt's picture

China? Anybody say china to the rescue?!

Wed, 03/14/2012 - 15:30 | 2255462 JPM Hater001
JPM Hater001's picture

Why is everything red but the dollar?

Wed, 03/14/2012 - 15:38 | 2255483 kito
kito's picture

Because ben threw in the towel and would rather save his source of power than print it into oblivion.....either way the country is screwed...might as well preserve his legacy....

Wed, 03/14/2012 - 16:36 | 2255698 AbelCatalyst
AbelCatalyst's picture

When you sell stocks you're essentially buying dollars...  the dollar will go up as the market plumets, then the dollar will face reality, the FED will print, and the dollar will drop like a stone!  this is all about to get very nasty - unless they kick the can again and stall the inevitable.  This is why the FED has to keep the market elevated (so the dollar does not rise)...  It's all a big f'ing mess!!  

Wed, 03/14/2012 - 17:54 | 2255933 Rynak
Rynak's picture

But see, if they can push all retail and the evil speculators out of the market, they can control prices with their armada of bots. And: prices totally out of whack with reality will totally work out.... basically numbers can just be "fixed" arbitrarily without any weird consequences back in the real world - or so they think.

Wed, 03/14/2012 - 20:13 | 2256326 AbelCatalyst
AbelCatalyst's picture

I agree - or so they think... The markets are MASSIVE and it takes quite an egomaniac to think they can be controlled indefinitely. Print money, oil goes up, economy tanks. Slow federal spending, the economy tanks. Go all in on printing and hyperinflation completely destroys confidence. They can't control the market forever - every action leads to an unintended reaction (and most likely OVERreaction). Balance will be restored when the egos are humbled... Which means a fairly painful experience awaits us all... Sad but true...

Wed, 03/14/2012 - 15:46 | 2255507 Nobody For President
Nobody For President's picture

PPT is on it! DOW up .06/07/ +o,.10! good for MSM headlines

(Whoops, it's back to .05, but still green - that's all that counts at the end of the day.)

Only 15 minutes, might be able to suck NASDAQ into the green as well, being worked on as I type. 

Go Team Go!

Wed, 03/14/2012 - 15:15 | 2255383 slewie the pi-rat
slewie the pi-rat's picture

always great to see the latest issue of:  theFungibleFunnies

Wed, 03/14/2012 - 15:15 | 2255385 Big Ben
Big Ben's picture

Whenever a company is being forced to extend credit to its customers in order for them to buy its products, it is a big red flag. That was one of the first signs of weakness before the dotcom crash. Many companies were booking nice profits, but were also extending lots of credit to customers.

I think the same reasoning should apply to a country as well as a company.

Thu, 03/15/2012 - 05:10 | 2256075 i-dog
i-dog's picture

The whole economy is 'impress your friends now, pay later'!

'Nothing down, 4 years until first payment' furniture; free '2 year contract' iToys; 'Pay with Paypal or CC' on the interwebs; 'if you see something, say something' reporting of those paying with cash..... LOL.

Wed, 03/14/2012 - 19:04 | 2256149 Amish Hacker
Amish Hacker's picture

Yup, and if you follow the trail of vendor financing to it's logical conclusion, you arrive at the point where all the world's central banks "lend" to themselves by printing, in order to buy their own bonds.

Wed, 03/14/2012 - 15:15 | 2255387 illyia
illyia's picture


Wed, 03/14/2012 - 15:18 | 2255397 Sudden Debt
Wed, 03/14/2012 - 21:07 | 2256419 TheFourthStooge-ing
TheFourthStooge-ing's picture

It's funny every time because it's true every time.


Wed, 03/14/2012 - 15:17 | 2255394 SelfGov
SelfGov's picture

Looks like we now know how the S&P got so high.

Wed, 03/14/2012 - 15:17 | 2255395 Sudden Debt
Sudden Debt's picture

Never blame a woman for trying. Over and over and over and over an over and over again. Nxt time it might work out well as long as we keep doing the same stuff all over and over and over and over and over again!

Wed, 03/14/2012 - 15:17 | 2255396 carbonmutant
carbonmutant's picture

Courtesy of Der Spiegel:

10,000 Job Portuguese Applicants Seek Greener Pastures in German Town,1518,821118,00.html#ref=rss

Wed, 03/14/2012 - 15:20 | 2255409 Sudden Debt
Sudden Debt's picture

Building busses to bring them back to portugal I guess...

Wed, 03/14/2012 - 15:30 | 2255460 OutLookingIn
OutLookingIn's picture

Also Greeks going to Australia! In 2010 the number of requests totalled a little over 100 - this past year the requests received are over 12,000! No wonder with a youth unemployment rate of +50%!

Wed, 03/14/2012 - 15:58 | 2255557 Ben Burnyankme
Ben Burnyankme's picture

Yes, and add the Irish to your list.  An Irish friend of mine told me last week that 6 couples just left his small town last month to move to Australia.  Another friend who is Austrailian told me Tuesday that anti-immigrant sentiment in Austrialia is growing quickly.

Wed, 03/14/2012 - 17:52 | 2255931 spdrdr
spdrdr's picture

Utter rubbish.  Immigration by people who (a) intend to work hard (b) to make a better life for themselves and their families, (c) who will joyfully adopt the cultural mores, standards and ethics of Australian life, and (d) contribute to the community, have always been welcomed in Australia, be they white, black, brindle or brown.

The anti-migrant sentiment is directed towards the socialist Government preferentially importing those who have no intention to work, live on the dole (with the ultimate aspiration the Disability Pension), together with their several wives and extended families, who wish to import the ghetto mentailities of their fucking former shitholes. 

This is all done for the purpose of ensuring future demographic voting patterns by the socialists.

Wed, 03/14/2012 - 18:12 | 2255981 Rynak
Rynak's picture

"Utter rubbish."

Indeed, that is what you are.

Oh dear where to start.... do i bother to address the appeal to the fake party dichotomy.... do i bother to mention that "working harder for less" regarding unemployment is like fucking for virginity..... or do i bother to inform this brain amputated poster, that supply is not the same as demand?

Hmm, let's pick the later, because:

1) It is a constantly repeated .... oh, let's be very diplomatic and call it "myth"

2) The sheer scale of idiocy gives the most ammunition for degrading the author of the above post to the level he deserves

You see, there is this thing called supply and that thing called demand. Supply means that someone provides something. Demand that someone seeks to aquire something. And: It makes no sense to provide something that one needs... just as it makes no sense to sell something of which one needs to buy more of.... you see?

Not? Kay, i'll make it really stupid for you: Buying is not the same as selling! Giving is not the same as taking. Got it? Great, awesome evolutionary breakthrough in thinking!!!! *clap clap*

Now, how does SUPPLYING more work per person, result in a higher total DEMAND of workhours? This is like saying: If a vendor just produces and offers higher quantities of a product, that will fix a lack of demand in said product. Or: Like saying that taking more debt, will address too much debt.

What that means regarding immigration is: It makes no sense to "import" more work-supply, than there is work-demand in a country. And it especially makes no sense to - in the face of a lack of work-demand - import people who are willing to work more hours for less compensation... because not only will their numbers now add to the workforce that needs to be sustained - but on top of this, wage-pressure will result in EVERYONE having to work more hours for less... which reduces the amount of people that can be sustained with the available work demand, EVEN FURTHER.

TL/DR: Fucking for virginity, moron.

Wed, 03/14/2012 - 18:23 | 2256020 spdrdr
spdrdr's picture

Please, entertain the readers even further.

What on earth are you talking about?

Wed, 03/14/2012 - 18:33 | 2256054 Rynak
Rynak's picture

Something beyond pre-kindergarden education.

Stuff like: If i take this, it now is here, not elsewhere. And if i give this, it is now elsewhere, rather than here.

Maybe you'll grasp it someday in the future.... unless you grow up to become an economist... then you'll never get it.

Wed, 03/14/2012 - 18:40 | 2256071 spdrdr
spdrdr's picture

Your intellectually challenged meandering stream of consciousness discourses are incomprehensible to most of us.

I am certain that the voices in your head agree with what you say, but that would appear to be the only consensus.

Peace out.

Wed, 03/14/2012 - 18:44 | 2256087 Rynak
Rynak's picture

"Us"? You are multiple persons? Oh dear.... another shizophrenetic bankster bitch.

Wed, 03/14/2012 - 18:49 | 2256107 spdrdr
spdrdr's picture

No, I meant normal people. 

Did you mean to say "Schizophrenic"?

Wed, 03/14/2012 - 22:54 | 2256587 Rynak
Rynak's picture

Regarding the junks of my post, i highly suspect that it was simply sockpuppet accounts of that bankster bitch.

But for any retard who actually junked my posts, here is my takedown of you, with PLAIN COLD MATHS:

Take a population of 100 people SUPPLYING workhours.

Take a demand of 100 workhours (yes, not realistic, but hey, i'm trying to keep it simple here for people "challenged" with basic school maths (i.e. economists).

Let the workforce work 1,2 hours instead of 1 hours at the same total pay.


- The workforce now works 20% more hours (ignorable? It may come back to you regarding health issues, as as well as real innovation... because real innovation tends to not start at corps, but at individual private projects!)

- Since people now have to work 20% more to cover their living costs, if all people with a job would work enough to cover their living costs, this would mean....

- 83% of the workforce now can sustain their life themselves (down from 100%). The rest needs to get their living costs "sponsored" somway (read, gov taxes, one way or another)

Next up, let's add 10 more people, willing to work 10% more workhours at the same monthly compensation

The maths:

- 110 / 132 = 0.75

- now 75% of the workforce can sustain their life, with the original amount of workhour demand

- Conversely, about 25% of the entire workforce, now is unemployed, and needs their life sustained by green shots

Do i need to continue this obvious basic-maths example, or do the moron junkers already get, that this "works" just as little, as fixing debt problems with more debt?

Oh nevermind.... going by experience, my guess is - no, even by cold hard maths, they will prever to reject truth.... for the sake of the ponzi.... for the sake of dementia....  for the sake of "i'm a fucking retard, believing in logically impossible stuff".

GFY, parasitism-promoters.

Thu, 03/15/2012 - 00:22 | 2256772 spdrdr
spdrdr's picture

Planet Earth to Rynak:

What on earth are you babbling on about?  Have you run out of medications again?

Cogent, intelligent thought, please ... those voices in your head appear to be overriding your ability to communicate.


Fri, 03/16/2012 - 20:36 | 2263987 Rynak
Rynak's picture

None of that, william-the-bastard (how did i recognize you for the hundred's time AGAIN? Well, you are kinda repetitive in a lot of ways, and basically do not learn any new tricks. In this case, if you feel you cannot beat someone else on a quasi-factual basis, you tend to write replies that basically say "uh, what the hell are you talking about?" or "uh, whatever".

Wed, 03/14/2012 - 15:18 | 2255399 Zola
Zola's picture

Criminals pretending and obfuscating while in the meantime real investors have to be run over by the central banks leveraging the economic power of entire nations to do ill , while the sheeple do not even comprehend the frauds perpetrated in their names. Go back voting for Santorum... Idiots.

Wed, 03/14/2012 - 15:18 | 2255400 Ben Burnyankme
Ben Burnyankme's picture

Yes, the German Hairdresser is subsidizing the retired Italian and Spanish hairdresser with the German government mandated €299 perm.  “What, you shaved your head.  Too bad, it’s a perm for you.  Pay up and sit down.”

Wed, 03/14/2012 - 15:29 | 2255452 flyingpigg
flyingpigg's picture

I don't know about the retirement age of Italian hairdressers but female teachers in Italy used to retire in the 45 and 50 years range. With an average life expectancy of about 80 years that a looong term liability Monti can't easily fix....

Wed, 03/14/2012 - 15:19 | 2255401 Everybodys All ...
Everybodys All American's picture

No turning back now ... make sure you thank Geithner for his advice.

Wed, 03/14/2012 - 15:19 | 2255402 Zola
Zola's picture

Criminals pretending and obfuscating while in the meantime real investors have to be run over by the central banks leveraging the economic power of entire nations to do ill , while the sheeple do not even comprehend the frauds perpetrated in their names. Go back voting for Santorum... Idiots.

Wed, 03/14/2012 - 15:19 | 2255403 monopoly
monopoly's picture

400 Billion??

Tyler, please do not bother us with billions during the trading day. We do not deal with billions here, just Trillions. This is America.

Thank you. :)


Wed, 03/14/2012 - 15:22 | 2255429 Sudden Debt
Sudden Debt's picture

Let me get you in on some great investment advice:

Imagine..... ..... TRILlION!!!!

Yes, trillion! Imagine how much you could make!
Just buy my book "scamming people into buy your book" and you'll understand!

Wed, 03/14/2012 - 15:20 | 2255413 flyingpigg
flyingpigg's picture

BTP auction went very well today: 6 billion Euro's at an avg yield of 2.76%!! I believe that rate is at a six month low.

Gratie mille my german friends!


Wed, 03/14/2012 - 15:27 | 2255448 Tyler Durden
Tyler Durden's picture

That's the whole point. The bond market, courtesy of the ECB, has signalled the all clear. In the meantime, the PIIGS economies are getting worse and worse. But for the time being Germany can keep them afloat. However, Germany, unlike the ECB can not print money. And in fact, largely does not want to.

Wed, 03/14/2012 - 15:40 | 2255492 Wolferl
Wolferl's picture

@ Todays Tyler Durden.


Germany can print as much money as she wants. Germany owns the Euro. It takes just an email from Berlin to Frankfurt and the ECB prints whatever is needed.



Wed, 03/14/2012 - 17:11 | 2255824 ali-ali-al-qomfri
ali-ali-al-qomfri's picture


it's a currency printing app.

Just make sure the appropriate linen is in the paper tray.

Wed, 03/14/2012 - 17:44 | 2255916 Market Efficien...
Market Efficiency Romantic's picture

That' the point. BuBa with Weidmann (formerly Merkel's right hand) has vigorously denied printing up until now, because it would bring a relative cost for the German income (not to be confused with the German asset holder). You may exchange German income for German electorate. Unfortunately, Merkel in her decision to appoint Weidmann has not recognized that the global debt game is played three levels above her head and that the player would easily be able to expose BuBa under that Merkel/Weidmann policy. Merkel/Weidmann will realize under much pain that facing the Target II balance, ECB printing is the best option. That pay the bill of international asset holders (relative to income earners) and has only increased the relative German burden in that lateral shift of wealth of debt enslavement on German income earners. If BuBa as under a clever hawk or dove (but not under a stupid as fuck politician) had early agreed on printing (as the elite had counted on) the lateral shift would have occurred without disturbance and the asset holder (thourgh the PIIGS) would have been refinanced at the same cost for all Europeans. The new WeiMer Republic only caused German income owners more pain first taking on the target II balance and then agreeing on the printing.

I get more and more scared, it will be a 20th century replay. Perfectly fits the age of missing creativity and would explain the missing Weimar Republic issue in schoolbook explanation of WWII. They sure did not teach Merkel the power and limits of power of the BuBa in the East. I now understand why they promoted her to become chancelor at Bilderberg, the ethical, East German scientist, what better candidate could be there, to easily be trapped in that monetary endgame.

Wed, 03/14/2012 - 17:57 | 2255938 Market Efficien...
Market Efficiency Romantic's picture

Did no one notice that 'someone' gave WeiMer a heads up blackmail through former BuBa head Kiesinger, who hinted German IFO head at target II burden. That somehow coincided with apparent German yes to LTRO I and II. WeiMer thought they had fenced the German economy but unfortunately had no clue of the actual equation. When IFO started digging into target II, LTRO had a definite go!

Wed, 03/14/2012 - 18:08 | 2255970 Market Efficien...
Market Efficiency Romantic's picture

And with that the Hugh Hendry play is on, the gates are open, full debasement, zero-interest and full-blown printing. PMs will be manipulated as have ever been to guide remaining asset holders towards financial aka USD denominated assets. spx will explode as people realize it is inflation neutral and don't want to be left behind, Equities will be the zero sum game, invest and keep consuming, if you can no longer consume it is because consuption has ceased.

Nice side note, check history, typical Rotschild play to move/scare the broad/retail market out of the soon to be rallying asset (private defaults from housing market, financial crisis, 401k bankruptcy and European retirement fund horrors). Only the smartest part of the broad market will remain and even scale up in equities.

Wed, 03/14/2012 - 21:28 | 2256462 Tom Green Swedish
Tom Green Swedish's picture

The ECB can print money but they are not doing so, they are buying gold as a hedge against hyperinflation. Europe really doesn't have much going for them so they are going for the gold Hail Mary.


Look at their balance sheet.  They are increasing gold purchases more than they are printing money.  What the hell do they think they are going to do with all that gold?  Trade it in for USA dollars?

Wed, 03/14/2012 - 15:20 | 2255414 t_kAyk
t_kAyk's picture

a check?  oh sure sure, just let me get my checkbook.  it's in the zeppelin, be right back...  schnell, in dem verdammten Zeppelin bekommen!!

Wed, 03/14/2012 - 15:24 | 2255436 Sudden Debt
Sudden Debt's picture

Hahahahaha! :)

Wed, 03/14/2012 - 21:23 | 2256453 TheFourthStooge-ing
TheFourthStooge-ing's picture



Wed, 03/14/2012 - 15:21 | 2255420 monopoly
monopoly's picture

Ugly day for us PM folks. Took another hit today and raised all cash. Just part of the process. As long as you are not on margin you get to play again. Otherwise Sayonara.

Wed, 03/14/2012 - 15:22 | 2255427 LookingWithAmazement
LookingWithAmazement's picture

Gold and silver plunge. Apparently, all troubles in the financial markets are over.

Wed, 03/14/2012 - 15:26 | 2255441 Sudden Debt
Sudden Debt's picture

Right on shedule!

Banks return a dividend and historicly that's when pm's go down. To bad those div's are fixed :)

Wed, 03/14/2012 - 15:31 | 2255468 scatterbrains
scatterbrains's picture

Maybe the Pm's are sniffing out a shit storm about to blow in.  Vixy sure does have the perfect technical set up for a ramp higher...

Wed, 03/14/2012 - 16:02 | 2255572 whatsinaname
whatsinaname's picture

Technical Schemechnical.. dont count no more.

Applenical is all that matters..

Wed, 03/14/2012 - 15:38 | 2255484 mayhem_korner
mayhem_korner's picture



Hey LoozaWithAttitude: you know as well as we do that this is a coordinated smackdown by the CBs and another (failing) attempt to project their fear onto PMs. 

I'll wait this one out too.  Maybe even pick up a couple sleeves of maples.

Wed, 03/14/2012 - 15:22 | 2255430 Canucklehead
Canucklehead's picture

Think Currency Swaps and see who is buying up Europe.

The European economy relies on banks owning businesses via wholesale banking.  The ECB is sucking up all the meaningful collateral within Europe to propogate the wholesale banking sector.  At some point everyone expects Germany will backstop the ECB and end up owning all of Europe.  In this scenario there is an expectation that the various PIIGS will be able to walk away and leave Germany with the Bill.

The US and Britain will step in and help Germany buy the ECB for pennies on the dollar.  With EU collateral in the hands of Germany, US and Britain, the EU experiment can play out as social programs get medianized and various EU silly states learn their banking systems are no longer there for their elite's benefit.

We are talking Europe in an Eagles - Hotel California context.

At some point, high energy prices mean the value added manufacturing moves to the United States.

Wed, 03/14/2012 - 15:34 | 2255477 Piranhanoia
Piranhanoia's picture

Why?   We have their gold, we make the same machines they do, and we keep a lot of nuclear weapons all over their country.   They don't have oil,  they are expendable.  They are the perfect goat.

Wed, 03/14/2012 - 16:37 | 2255701 Canucklehead
Canucklehead's picture

The short answer is that it is for the children.

The future is worth something.  The way things are going, Europe will degenerate into a mano-oh-mano mess.

Generally, decent people want something safe to invest in.  Political corruption needs to be nipped in the bud.  In North America, previous attempts to outlaw actions resulted in those actions moving to other jurisdications.  In response, you became a bigger crook to get a bigger piece of the pie.

Times are changing.  Germany and the United States have a similar view of the world.  Britain wants to perpetuate their FIRE economy but hasn't the horsepower to pull world opinion in that direction.  The result is Britain becomes a shadow of it's past as the world financial centre moves to Germany and the United States.  London goes along because they have no choice and there may be opportunities if someone stumbles.

If anyone thought property rights had a future in China, they would park their funds there.

Wed, 03/14/2012 - 16:29 | 2255677 bahaar
bahaar's picture

'At some point, high energy prices mean the value added manufacturing moves to the United States'


High energy prices and new technologies like 3D printing.

Wed, 03/14/2012 - 16:40 | 2255710 Canucklehead
Canucklehead's picture

Watch the megafactories show about manufacturing the BMW X3 in South Carolina.  That factory is state of the art.  Look at the people and picture how Detroit looks/feels.

The funny thing is that BMW moved the X3 from Austria to South Carolina.  It must be the people.  The equipment is the same.  The people working in that factory appear to be top-notch.  Everyone seems to be a technical sales representative even while they are doing their assembly tasks.

Wed, 03/14/2012 - 15:23 | 2255433 Peter K
Peter K's picture

Can't wait to see what the 14th year Target2 imbalance of the 1000 year Reich... I mean Euroland looks like:)

Wed, 03/14/2012 - 15:24 | 2255437 walküre
walküre's picture

Zis Tscherman has gotten vixed.

Are you vixed my friends?

Wed, 03/14/2012 - 15:31 | 2255466 Piranhanoia
Piranhanoia's picture

The longest vacations, the least working hours,  most benefits, most unions.  There is a sense of entitlement in Deutschland.  Looks like it will have to be beaten out of them a third time by their neighbors. 

Wed, 03/14/2012 - 15:39 | 2255489 walküre
walküre's picture

Surely you jest!

France is the epidemy of entitlement culture which is why they're collapsing and going for broke.

Wed, 03/14/2012 - 18:22 | 2256016 MunX
MunX's picture

They have no minimum wage...

Wed, 03/14/2012 - 20:01 | 2256304 css1971
css1971's picture

They have minijobs.

Wed, 03/14/2012 - 15:37 | 2255480 Moneyswirth
Moneyswirth's picture

Yes Europe is, indeed, "fixed".


Wed, 03/14/2012 - 15:50 | 2255519 icanhasbailout
icanhasbailout's picture

The ECB got ripped off, I got the cat fixed for just $40

Wed, 03/14/2012 - 15:51 | 2255525 Pairadimes
Pairadimes's picture

This is like a global game of whack-a-mole, except unlike in the arcade, this one doesn't end when the time runs out, it ends when the central banksters arms get tired. That will not be pretty.

Wed, 03/14/2012 - 15:58 | 2255558 847328_3527
847328_3527's picture

Capturing one Deutsch mind and heart at a time.....

Wed, 03/14/2012 - 16:17 | 2255632 The Reich
The Reich's picture

New Century new Wars.

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