This page has been archived and commenting is disabled.
Europe's Response To Geithner's Advice: "I'd Like To Hear How The United States Will Reduce Its Deficits ... And Its Debts"
Two years after being laughed out by a bunch of Chinese students, Tim Geithner realized that his hypocrisy may pass muster in the Beltway, but the crowd is tougher across the Atlantic. As Reuters reports, the much anticipated meeting between Geithner and the euro FinMins in Wroclaw, Poland, lasted all of thirty minutes and if nothing else managed to unite the Europeans... in their ridicule and derision of the man that has become a global muppet caricature. The litany of quotes needs no explanation: "I found it peculiar that even though the Americans have significantly worse fundamental data than the euro zone that they tell us what we should do and when we make a suggestion ... that they say no straight away," Maria Fekter, [Austria's Finance Minister] told reporters afterwards, recalling a difference of opinion between Geithner and German Finance Minister Wolfgang Schaeuble on how to reinvigorate the euro zone and tax financial deals." And the kicker came from Belgian Finance Minister Didier Reynders, who responded 'tartly' that "We can always discuss with our American colleagues. I'd like to hear how the United States will reduce its deficits ... and its debts." Alas, as Tim has found the hard way, being one of the biggest offendors when it comes to collapsed economies does take away from his credibility. So if we may suggest, Timmy should i) focus on fixing the US economy, and since he has repeatedly failed at that ii) to immediately resign.
From Reuters:
Geithner's decision to travel to the small city of Wroclaw to discuss the sovereign debt problems of Greece, Ireland, Italy and the wider euro zone was the clearest indication yet of the severity of the near two-year-old crisis, which now threatens the global economy not just the single currency bloc.
Officials said Geithner was coming to propose how the region might try leveraging its emergency bailout fund -- the 440 billion euro European Financial Stability Facility -- to better tackle the crisis, much as the United States used leverage to handle the fallout from the subprime collapse.
But however good Geithner's intentions, the indications were that the meeting did not go as smoothly as he might have hoped.
Held in a concert hall, the gathering lasted for about 30 minutes. The euro zone ministers arrived together by bus. Geithner was sped to the doors in a private car.
Jean-Claude Juncker, the chairman of the Eurogroup, was even more to the point.
"I don't think it would be wise for me to report from an informal meeting that we have with the treasury secretary. We are not discussing the expansion or increase of the EFSF with a non-member of the euro area," he said.
And the very lonely thoughts of our very own SecTreason:
"One of the starkest ways to emphasize the importance of Europe getting on top of this is that you don't want the future of Europe to rest in the hands of those who provide financing to the IMF," he said.
"There is no reason for Europe to be in that position and it would be very damaging to the credibility of the endeavour here in Europe," he said, before departing to warm applause.
"Of course your financial challenges in Europe are within your capacity to manage financially, you just have to choose to do it," Geithner told the audience, sitting cross-legged and slightly slouched in his chair.
Does that mean that Timmy to the G never chose to do manage our own challenges before? If so, can he at least manage to sign the dotted line on his resignation letter.
The bottom line:
For many in the meeting, Austria's Fekter most particularly, his message fell flat.
"I had expected that when he tells us how he sees the world that he would listen to what we have to say," she said.
Well, so much for the US telling Europe what to do...
»
- 19467 reads
- Printer-friendly version
- Send to friend
- advertisements -
Europe can boo all they want. Benny and Timmy will still bail them out.
This bullshit bailout-crisis-bailout can't go on for ever.
Debt jubilee, bitchez.
http://azizonomics.com/2011/09/15/christine-lagarde-there-is-still-too-much-debt-in-the-system/
That word Jubilee again... It looks like there is a real chance of BIG defaults, how ever you want to dress that word up. Defaults...
Cash (FRNs at home in the safe or under the mattress) and gold will protect you from a "Jubilee"...
Jubilee... Wheeeee!
Who should be Bailed out in what order?
1)US
2)Japan
3)Europe
Either way the game is over, wait wait , Lets let all the Central banks give out all the fucking loans you can imagine to any bank for anything. There is a Jubilee - it's just amongst the United Banking Cartel. The unlimted ATM $$$
1.2 trillion more in bailouts
http://www.youtube.com/user/zedgehero
Geesner is the most ridiculed Treasury Secretary in the history of this country. Why has he quit already? That fact the BO hired him and then extended his stay is evidence enough that BO is clueless in economic matters. Unfortunately, he will be reelected in 2012.
The people who are speaking publically about the audacity of Timmay are the ones that aren't full aware of the trillions of secret money that has been given to every slutty whore central bank througout the world by the fed/treasury. If you knew what Timmay knew it would be completely logical to display what seems to be unbelievable hypocrisy but is completely logical when understanding the real story. Criminals, and they make it obvious.
Do you really believe that BO doesn't know what's going here? Has it occured to you that this economic collapse has been planned and executed for a reason? BO is alledged to be the smartest human on the planet, and yet he doesn't know that the economy is collapsing? ***blink***
You are as clueless as THE ONE it appears.
THE ONLY PEOPLE WHO annoited him the ONE are the flaks and cocksuckers that surround any common criminal and their MSM "embeds".
ANYONE that ever believed that an empty suit such as this clown/imbecile had a clue should just blow their alleged brain out NOW!
I know the avg sheep has an IQ of around 10 but my goodness even this dope is too much.
The only thing I'm clueless about here is what the Hell you're talking about. I NEVER supported BO.
I think mariposa is right. BO is smart, he's just completely ignorant on the nuances of economics. Like Clinton and Bush before him, he was too lazy during his time in public office to learn anything of any substance. He's a politician - they are all complete idiots because they care not about the serious issues of governance - they only care about politics, a game in which they excel -mainly because they know whose ass to kiss. That's why the special interests get them elected. Hoever, even a complete idiot can recognize we are in what will soon be an economic collapse, so she is probably right about BO recognizing this.
So if we may suggest, Timmy should i) focus on fixing the US economy, and since he has repeatedly failed at that ii) to immediately resign.
Focus on the US -- what a concept! Our single biggest problem is our set of leaders, who are busily 'fixing' the world while their own society rots. They don't even see the problems here, let alone try to solve them.
Our single biggest problem is that the sheep gaze out from the pen and expect someone to save them.
Bah.
Enforce the fukin LAWS don't bother expecting a savior to ride in on the clouds.
the biggest problem is the sheep can't even recognize the wolves roaming amongst the flock
My bullish view for the next few years:
Structured PIIGS defaults one by one.
Structured French and German banking crises with nationalisation and recapitalisation of banks
Structured European and US banking crises with nationalisation and recapitalisation of banks
Repeat around the globe and include the under estimated regional and private debt problems of each country into the equation.
Tough times with civil unrest and protectionism eroding global trades, but a gradual rise in innovation and manufacturing eventually leading to a recovery.
My Bearish view
A forced fiscal union with or without eurobonds.
An apparent recovery but underlying debt problems unresolved and voters across the region seriously unimpressed by the fiscal union.
A rise in nationalism, leading to civil unrest, revolutions and chaotic disintegration of the European Union while the US is stagnating under lack of UNITED leadership and their mounting, unresolved debt, and Asia too slow to empower their middle classes (choked by inflation) to carry the load.
The European leaders are not stupid. The whole implementation of the European union and Euro was based on ensuring the nations taking part that they remain sovereign nations. There are no Euro zone states despite some analysts using that term. There are Euro zone countries.
They couldn't have created a fiscal union at the most bullish of times, how could they possibly force it through now? Look at Europe. Can anyone seriously see a UNITED States of Europe in the horizon???
Exactly, it cant go on forever and was never designed to go on forever, just long enough to get everyone in the stew pot. We're easily there now, really no point in bankrupting everyone further so any day now the rug can be pulled out.
Debt jubliee? Fuck you.
How about letting the market do it's thing: Default. Deflate. Correct.
Damn fucking straight. But don't worry , a "jubilee" will have the same effect as a default. Those who have lived beyond their means shall take it up the ass just as wall street shall. Karma is a bitch.
I fully expect to get some flesh wounds when this unravels but I've prepared as much I can and have zero debt. Every other fucker in my neighbourhood is still driving around in a car that costs half their household income with a mortgage that's 5 times their salary that never seems to get repaid. If they get bailed out along with every other stupid fu&8! Govn there is only one thing that can happen : I will need more digits on my casio to type in the price of gold. If they don't , then I can at last afford a house free and clear after 15 years of saving.
Suck it up debt junkies.
Everywhere you turn, there is impossible math or a moral hazard of mammoth proportions, or a roadblock of some sort. It is for this reason that I really think the S will HTF. Younger folks are not going to be slammed to concrete with no jobs and useless degrees and a mountain of debt. Older folks are not going to go quietly into that cat-food, no electricity night. Gen X is about fed the fuck up with getting robbed blind and the social mess that has resulted. Etc. and etc. We are no doubt at a point of extremes... energy, population, resources, economically, socially, and so forth. The perfect storm.
We are no doubt at a point of extremes... energy, population, resources, economically, socially, and so forth. The perfect storm.
Succinctly stated; might want to include weather, too.
this kinda seems to put the kibosh on reparations for black people and the entire race pimping industry of handouts and free cheese?
... and the entire race pimping industry of handouts and free cheese?
No trav. Not at all. The Tribesmen still get billions. What were they just guarenteed? $3B-$4B per year into 2018. Google it.
They have to, Greece may be the first domino, Benny and Timmy know that the US are in death row. Execution by a triggering dwarfy Greece would be the joke of the century.
Debt jubilee. Isn't that just another bailout?
HFT
Have Fiat will Travel
What a pathetic excuse for a human being he is. And he is still not in jail.
Green. Why indeed is he not in jail, with all the other usual suspects?
Yeah, well, my printer is bigger than yours Eurotrash!
Do as we tell, not as we do.
Poor Timmy, "he just don't get no respect!"
What's the old saying: "Respect is Earned, not given". Timmah will never earn respect by bailing out everyone at taxpayers expense.
Hope that Timmah gets mad and won't allow BennieBux to be printed this time around.
We can dream, can't we?
He likely doesn't give two shits whether or not he is respected by us nobodies. He's Kissinger's boy, so he gets all the respect he desires, off camera.
Europe listens?
Exactly. The fact that TG is there should tell Europe to STFU. This is a dicey situation and telling a guy who is financing 100 billion tranches in a week when Europe can't even do 5 is all the rest of the world need to knows. What was reported today is that it's Brazil, India and China that are teaming up to solve Greece--ideally WITHOUT Europe. Telling Mr Bond to take a hike is the wrong answer.
Okay, okay, we will send our Herman Van Rompay to tell Obama what to do.
He will be telling BO what do just as soon as the One World Governemnt gets put in place...
If the Chinese agree with what he says...
While he's there, he can also educate European leaders how to fill out their income tax statements.
I just hope that when history looks back at this troubled time, future generations don't forget to laugh heartily at TurboTax for his mind-blowing incompetence.
If you've got a bad desease, you don't use cancer as the cure. And the USA is the biggest cancer the world has ever seen.
Timmah blustering over in Europe about how to fix (cover up and pretend) their debt, when the US debt black hole of $1.5 quadrillion makes Europe look like nothing by comparison. Raging heroin addict drug abuse counselor, yea whatever Timmah!
Why is TIMMAY! the Tax Cheat still holding that position anyhow? CONfidence "optics" from the O'dumbo Administration? It's TITS or GTFO time for the US Economy, and that little elf bitch doesn't have the goods.
Random Thought: A paparazzi for all the retired repositioned oligarchs. It would be nice to be able to get the latest gossip regarding where they eat, what sort of houses they live in, who they meet with...
Whooooaaaaaa re your random thought. Green!
Make it a sort of tabloid...
I'd pay for that.
Good call, Conrad.
Funny, but I was thinking this morning about how neat it would be to have a deck of cards with the pictures and bios of the top 52 scoundrels that brought this financial calamity upon us. Like the deck we had made for the most wanted of the Iraqi regieme after it fell.
Are you listening, WB7?
Us Foreign Policy - Working well as usual.
classic, lol
talk about the pot calling.......
European civilization is about 2000 years older than anything comparable in North America (notice I did not say "American civilization" because there isn't any such thing.)
They aren't going to take much crap from someone like Timmy G. The US experiment in North America could evaporate within the year, Manhattan could revert to the Natives and all that, meanwhile over in Euroland they'll still be quibbling about the rights of the French nobility 500 years from now.
Perspective. Get some.
Strangely, it is those most in love with the Old World that are the very ones tanking America.
Y'all are just pissed the US made you stop killing each other for a few decades.
I'm an American. America was an experiment, and it's about to end. No idea what comes after.
The rest of the world does not now and will not ever give a shit either way. We'll be like the ancient Egyptians; lost beneath the moving sands of forgetfulness with just our colossal art projects left behind, and nobody will remember what the hell we were about.
Time kills all governments eventually. France is on what, it fifth or sixth republic since the Revolution?
America will go on, no matter what happens to the government.
The government is not America.
Good luck getting California and Texas to agree on anything, post-collapse.
that was very observant, key, not bad for someone on the other side of the pond. i didnt factor that one in....
Which is why the ridiculous idea of 'Federal' government is destined to failure ... whether in Europe or America. We all have preferences for culture, ideology, climate, lifestyle and race - and that will never change. Diversity is the natural order ... monocultures don't survive.
The sole purpose of federated governments is to extend the sphere of control of certain ruling families - with a One World Government as their ultimate wet dream of ruling the whole planet.
i-dog - I like your post. But, the up arrow doesn't work. [Neither does the down.] I can vote on all other's around yours.
Is the OWG cyber-attacking your post?
---------------------------------------------------
Here's the source from the one above and yours. I don't see any obvious difference.
<div class="indented"> <div class="non_toggle_area " id="comment-1678910"> <div class=" non_toggle_label "> <span class="scomments_info">Fri, 09/16/2011 - 19:03 | <a href="/news/europes-response-geithners-advice-id-hear-how-united-states-will-reduce-its-deficits-and-its-de#comment-1678910" class="active"><img src="/sites/all/modules/slashcomments/images/permalink.gif" alt="Link to Comment" /></a> </span> <b><a href="/users/xinfcapt" title="View user profile.">X.inf.capt</a></b> </div> <div class="toggle_content "> <div class="comment-content"> <div class="author"><div class="picture"> <a href="/users/xinfcapt" title="View user profile."><img src="/sites/all/themes/images/bagicon.png" alt="X.inf.capt's picture" title="X.inf.capt's picture" /></a></div> </div><div class="author"><div class="vud-widget vud-widget-upanddown" id="widget-comment-1678910"> <div class="up-score clear-block"> <a href="/vote/comment/1678910/1/vote/upanddown/662812d348df76061ef1738e9410f56f" rel="nofollow" class="vud-link-up ctools-use-ajax" title="Vote up!"> <div class="up-inactive" title="Vote up!"></div> <div class="element-invisible">Vote up!</div> </a> <span class="up-current-score">0</span> </div> <div class="down-score clear-block"> <a href="/vote/comment/1678910/-1/vote/upanddown/6c329c161551de65ac9ba9df83ad65f4" rel="nofollow" class="vud-link-down ctools-use-ajax" title="Vote down!"> <div class="down-inactive" title="Vote down!"></div> <div class="element-invisible">Vote down!</div> </a> <span class="down-current-score">0</span> </div> </div> </div> <p>that was very observant, key, not bad for someone on the other side of the pond. i didnt factor that one in....</p> </div> <div class="links"><ul class="links"><li class="comment_reply first last"><a href="/comment/reply/437875/1678910">reply</a></li> </ul></div> </div> </div> <div class="non_toggle_area " id="comment-1679085"> <div class=" non_toggle_label "> <span class="scomments_info">Fri, 09/16/2011 - 20:48 | <a href="/news/europes-response-geithners-advice-id-hear-how-united-states-will-reduce-its-deficits-and-its-de#comment-1679085" class="active"><img src="/sites/all/modules/slashcomments/images/permalink.gif" alt="Link to Comment" /></a> </span> <b><a href="/users/i-dog" title="View user profile.">i-dog</a></b> </div> <div class="toggle_content "> <div class="comment-content"> <div class="author"><div class="picture"> <a href="/users/i-dog" title="View user profile."><img src="http://www.zerohedge.com/sites/default/files/pictures/picture-21863.gif" alt="i-dog's picture" title="i-dog's picture" /></a></div> </div><div class="author"><div class="vud-widget vud-widget-upanddown" id="widget-comment-1679085"> <div class="up-score clear-block"> <a href="/vote/comment/1679085/1/vote/upanddown/0f415d59d4801fafb3180629f5413a5e" rel="nofollow" class="vud-link-up ctools-use-ajax" title="Vote up!"> <div class="up-inactive" title="Vote up!"></div> <div class="element-invisible">Vote up!</div> </a> <span class="up-current-score">0</span> </div> <div class="down-score clear-block"> <a href="/vote/comment/1679085/-1/vote/upanddown/9ba98eada9c9a597ba45551acb3b0b5b" rel="nofollow" class="vud-link-down ctools-use-ajax" title="Vote down!"> <div class="down-inactive" title="Vote down!"></div> <div class="element-invisible">Vote down!</div> </a> <span class="down-current-score">0</span> </div> </div> </div> <blockquote><p>"Good luck getting California and Texas to agree on anything, post-collapse."</p> </blockquote> <p>Which is why the ridiculous idea of 'Federal' government is destined to failure ... whether in Europe or America. We all have preferences for culture, ideology, climate, lifestyle and race - and that will never change. Diversity is the natural order ... monocultures don't survive.</p> <p>The sole purpose of federated governments is to extend the sphere of control of certain ruling families - with a One World Government as their ultimate wet dream of ruling the whole planet.</p> </div> <div class="links"><ul class="links"><li class="comment_reply first last"><a href="/comment/reply/437875/1679085">reply</a></li> </ul></div> </div> </div> </div></div></div></div></div>Your sad excuse for "cvilization" is a mockery of the great art which managed to leak out of your empires gone wild and constant in-fighting.
Get over yourselves already.
http://www.youtube.com/watch?v=sMQM4m2qpwA
mmm... Why the fuck do they need dollar swap lines if they are so much better then the US.
They are all useless.
My guess is that the Fed needs more to open the swap lines then the European themselves. I'm sure that this was not a pure act of compassion like we are so used from the Fed!
Very true, and they are telling our banks today what our banks told taxpayers in 2008.
Now this is entertainment.
Issuing currency is about getting as many people on the planet as possible to use the currency, allowing the issuer to exert at least some control over those peoples' lives. The Fed wants those swap lines open so that Europeans use dollars. That's why the Fed had already approved the swaps months prior to yesterday's central bank announcement. This he said, she said headline drama is just for entertainment.
The pen is mightier than the sword.
One always borrows in SOMETHING that may be scare resource now but will become, at best, worthless/plenty with passage of time. Actually this is quite a smart move, although, I am not sure if it is based on policy or necessity.
LOL we will get china to make dollars with slave labor
OT..., but wouldn't it be cheaper if we printed our money in China?
Tiny Turbo Tim. Linda has something to say to you boy. http://www.youtube.com/watch?v=haZPPBJC8Ic
When this housing bubble developed I could not fully understand how grown ups (who I thought where wisdom was an accretive proces) would set it up this way. Then I could not figure out why they still dont have it fixed yet. I actually watched CNBC and Bloomerg and other MSM outlets for the duration as research. here is what I came up with.
Its not the houses that are the problem.
malvina reynolds - little boxes
http://www.youtube.com/watch?v=2_2lGkEU4Xs
The market is betting on a resolution to this crisis and a resumption of an epic industrial boom in 2012.
How else could you explain the monstrous heavy volume moves off the lows in names like TXT, COL, GR, TYC??
Yea SURE Robo there will be a 'resolution' to the total bankruptcies cause by printing and derivitives swaps YADDA YADDA, theyll PRINT even more debt! And thats what people are 'bettin on'!
Robo still calling for an 'epic boom' for 2 years now...get a new gig, nutsack.
Think INFLATION...
That's what people are 'bettin on'
That is what I was thinking, but then again, when the analogous crisis started in 1968, stocks (at least the buy and hold kind) didn't see a gain until 1980. Back then, they still had a gold standard and Paulson finally came along and raised rates. These are two big factors that are not options for the U.S. right now. Either the dollar is finally destroyed or we have a major depression. Just don't see any other options.
No Robo. That's maket manipulation you mistake for fundamental investing.
LOL Robo, that's not very subtle. You can troll better than that.
"epic industrial boom" ROTFL
Maybe he meant "Epic Industiral Ka-boom?"
Or maybe he thinks TXT, COL, GR, TYC are in the printing industry?
Epic industrial boom you say?
The good Dr. C would have to disagree!
http://finviz.com/futures_charts.ashx?t=HG&p=h1
much like the "market" not betting on qe3, but "pricing in an economic boom, led by the us consumer? (c) 2011 MomoFader"
thanks, i'll pass on taking cues from this "market," or you for that matter.
There could well be a boom in 2012 but if there is, it will most likely be due to a bunch of Deuterium being rapidly fused into Helium and it will be measured in Megatonnes, not dollars. More likely that than an "epic industrial boom"
How could there possibly be an epic industrial boom without epic demand for the stuff the industries make? Where will such epic demand come from?
Central global planning can replace lacking organic pull demand w/ centrally "stimulated" push demand requiring supply...not saying good but certainly possible for another year! Maybe 2, possibly 3, could go on for 5, 10yrs??? Implications are ever more disastrous but that's never been the point...
It's time we take off our blinders, our "markets" don't work that way paradigms and think like the wounded animal perspective of TPTB...history, law, societal norms, etc. will not stand in their way. If the street is blocked, expect them to drive on the sidewalk...if that is unavailable, expect they will plow through the building for the "greater good".
Point is, when something can't be extended but it is...that is financial innovation in reverse to extend and pretend. Expect the wholly unexpected. There is no true safety as laws, constitutions, judiaciary, money, government are no longer trustworthy...only safer and less safe varying by a few vital degrees.
Err... crack-up boom, he meant. He's really just a die-hard Mises fan. Yeah, that's it....
But dont worry, its all under control, I hear from people they got a PRINTIN' PRESS so its all good! LOL
Mind you, it's also a bit rich that European banks have been going cap in hand to the Fed.
ie THEY'RE ALL FUCKIN LOSERS
yeah but the sad part is that the US taxpayer will end up paying the lions share of any European bailout. As usual, Uncle Sap...er I meant to say Uncle Sam will pick up the tab.
What US taxpayer? Corporations pay no tax, and everyone else is bankrupt.
You have a good point, SheepDog-One. Although there are always the children, the next generation of captive taxpayers, coming to a Hooverville near you. Yup, nothing like a back crushing burden of intergenerational debt to bring tears (of gratitude) to a Central Banksters eyes.
Taxpayers? Theoretically, but probably not in practice since so many are already broke. It's all the UST buyers who are going to wind up paying. But, that's what they get for loaning money to chronic liars and thieves.
Global citizens will pay this bill as US taxes will continue to fall lower and lower (in conjunction w/ greater spending) to allow politicians to maintain power...US will flood world w/ ever weakening dollars until the world cries for no more...and voila a gold backed "thingy" that just happens to re-empower w/ the worlds greatest holders of gold...
If only de Gaulle was around, he would put all these clowns in their place
http://www.youtube.com/watch?v=i-g2iGskFPE
Good one! Thanks.
Should've left you bitches to the Germans and the VC.
jmcadg,
i don´t know a thing about this except the banks are not, have not been, nor will they be ´FUCKING LOSERS´---we are the losers of last resort no matter what anyone tells you.
You can bet against the euro, the dollar, the banks, bah, bah, bah---not going to change a thing.
No one is frightened here in Spain, nor anywhere else on the continent--they understand things are not good and that we are in a depression, and that it will work itself out.
To believe all that read on the web, hear, see, and read in the msm is only a lot crap that paralyzes us with fear---i´m tired of it.
If you want to pretend that anyone in the world cares about the most destructive nation on the planet---you are kidding yourself. Nobody cares about the US except to fear that we are stupid enough to use the nuclear option. It is time to wake up to this fact-----the world is not going to end over any of this unless some fool pushes the button.
The Europeans have tried to be diplomatic as you read in the sentence below from this article, but they are not going to let the US dictate their policy; the Euro will not be abandoned----nor will the dollar. We have been abandoned and it is time to admit this.
"I don't think it would be wise for me to report from an informal meeting that we have with the treasury secretary. We are not discussing the expansion or increase of the EFSF with a non-member of the euro area," he said.
Bloggers do not put fear into the police state----all this constant whining is bullshit and fear is bullshit----that is nearly all i ever read here and this site is the best of its class
thanks for your inspiration---i could not have written this without your comment om
Pride goeth before the FALL.
Touché EL INDIO
the problem is that US always believes ( so strongly) that what they are doing is for the best...and for good....and being right....
they need to learn the concept of duality .....
Still all just a WWF show, one tag team acting all outraged and fighting the other, still its all world bankers though, and at the end of the day they all go out for drinks together. just a show to keep idiots like RoboTrader bamboozeled and convinced at any minute the next industrial revolution is about to blast off.
$1.5 quadrillion in unrepayable derivitives debt that still has not even been addressed after being stuffed in the closet 3 years ago.
Hey SheepDog, I burned about 100 laps at the night riding session last night at the Perris track, dirt was super tacky, temp was about 70 degrees, perfect motocross conditions, I was the last one off the track at 9:00pm, total epic session. I don't know where you live but we are able to ride year round here.
My XR650R runs flat out in the desert year-round at 100 mph.
Dang, MomoFader lives near me.
Dog, I had an XL600R that refused to stall. I could climb a tree with that 4-stroke monster. It got stolen.
out here in nevada, theres some great riding too.
i just have a ROKON, not fast, but i havent met a mountain yet i could'nt climb with it...
Just a hunch of a quirky question:
RobotTrader .... are you a nom de plomme variant to 'stir the blog pot' of one Tyler Durden?
Geithner's answer: But we're special and different!
Even at the darkest of times, when the overwhelming dispair accomanying impending doom befalls, everybody deserves a modicum of humor.
Timmah provides such well.
The only reason he was invited was for the politicians to mock him and score points with their constituents. Rent-a-Timmay.
DING!!! Gentlemen, we have a winner, and today's Big Brain is DonnieD.
Yes, the Europeans are marching in lock step with the Fed, and Timmy was there to get a tongue lashing to score points with their constituents so they can lock in the political capital to do what they all want to do.
This is all show. Banksters NEVER say what they really mean.
The reach around, mounted & locked in butt to nut step dance.
Terrorist Timmy takes the blame.
He wasn't invited.
Ah, dear americans you voted european social-democracy, and you got it
Enjoy... we have been suffering it for 60 years and now is your turn, sad thing is that I always thought that american people were wiser than most of us.Big Mistake everybody enjoy the Bread (a little) & Circus ( a lot) show
But but but... The Eurotrash have a better quality of life that the American Redneck Trash.
Ya'll fight me, ya'll be fightin' the whole damn trailer park.
Well, dont be so sure the poverty line income leve in USA equals the AVERAGE income level in Spain
Yeah Nuckles, The next housing boom will start with some two bit Barney Frank saying every American deserves their own double wide trailer.
Esteban,
Don't you know us Americans will always do the right thing, after everything else doesn't work?
I´m deeply confident about that, there is a lot of wisdom in knowing what doen´t work
I think even blind deaf and dumb people hate Timmy.
I fucking love this blog...sorry I curse too much says wife. I love this blog!
I would like to know how much that trip cost us taxpayers for Geithner to be dissed! Geithner had to have known he would not get the respect that for some reason he thinks he should have at that meeting! Geithner was stupid to go there, thinking he could muscle all the Eurozone countries and tell them what to do!
It was not for the U.S. to go poking it's nose into anyway. But that is the US thinking they have a right to dictate to the world what should be done.
He was over there trying to cover Goldman Sachs ass no doubt too. GS falsified all the info from Greece to get them in the Euro Zone.
Geithner, where you going to next.. China? to tell them what to do financially. I would love that!
How would he know, look at the ego, he thinks everyone bow to him. Remember the Obama Olympics fiasco, LOL
Dear Tyler & company,
The difference between USA and Europe is that the FED prints "free" USD while EU has to pay for then.
"they got then by the balls"
Good weekend for everybody from Canary Islands" Spain
PS: the best blog. Thanks for being there.
Geithner can pithily reply, "We will never default ... We have the world's reserve currency, and when we don't have enough of it, we can simply print more. Try that with you hoity-toity currency union."
Of course, it would help if the US would export more than ideas these days.
All I can say is that it is tough to bet against Uncle Gorilla and the rest of the Global Plutocrats.
What if these criminals all consipired to start shorting Credit Default instruments en masse to spark a huge squeeze on that sector?
Doug Noland mentioned how this was orchestrated at previous bottoms. Speculators ramp the CDS way too high until they are practically going parabolic, then the heavy hand of manipulation steps in to crush the "gloom and doom" speculators.
After that, it becomes a self-reinforcing feeback loop of short squeezing, building confidence, rising stock prices, ebullient moods, etc. which end up snowballing into a 100% rally in the SPY like we just witnessed.
Yes, but who is left? Not the weak shorts from 2 years ago...surely. LOL,
You're right, RT. Regrettably, you need to trade the grim reality, not some dream of the way things should be. A faraway dream at that.
Look at the ramp on this Euro - USD liquidity nonsense. The Euro banks are underwater due to bad sovereign debt, and CDS they wrote on the very same bank debt and sovereign debt. Life preservers don't work when you're wearing cement shoes.
cute how you actually think this is the bottom, right as we are rallying hard into resistance.
come on back in, the water is just fine...
momo chasers and bulltards just cannot help themselves.
Sure, theres an endless supply of 'gloom and doom stock speculators' to run the entire world markets higher...yea sure.
Funny thing about buying physical assets, be it PM's, food, or other tangibles: The market can do whatever it wants, and they just sit there! Amazing!
How ever did our ancestors survive in a hostile world before the dawn of the HFT, Hedge fund manipulated stock markets?
...but not an "epic industrial boom". You suggested there might be an epic industrial boom in 2012. How? Where would the epic demand come from?
"Americans have significantly worse fundamental data than the euro zone that they tell us what we should do and when we make a suggestion" NO shit, Who else in the world paying for family health insurance $4714.30/month (NY Region).. HMO??? You cannot even choose your doctor..
Are you kidding me??? f*cking thieves!!! almost $5k a month just for Health Insurance???
f*cking A this is a good Doctor yearly salary.. How to fix this crap??? Now imaging employer has
to pay for his employee that type of money for healthcare coverage alone??? Complete
Disaster.. Here Document with 2012 proposed rates:
http://www.empireblue.com/shared/noapplication/f1/s0/t0/pw_e169913.pdf
Why I'm so pissed I just got call from some Insurance
agent from this "Scam.CO" $5k/month, speechless..
P.S
you know what the Title of their website says:
"Empire Blue Cross and Blue Shield offers affordable solutions for your health"
5k$ a month affordable f*cking solution??? What those guys smoking??? :)))
It's one thing to lose credibility in the eyes of the common man, but when you have absolutely zero validity among your so-called peers, well then it's time to go!
http://www.politico.com/blogs/click/0611/Conan_swings_at_Tim_Geithner_.html
Theres an old saying from back in the Nixon era that when the late nite talk show hosts are clowning you, the game is then OVER and the shit is about to hit the fan.
Does it take a woman to tell the Emperor that he has no clothes? Well done Maria , Geitner has all those European leaders feeling stupid and inferior........ They had better find some balls soon , If we here in Europe go down we are taking the USA with us. I wonder who do the Asians prefer?
Timmah will resign just as soon as Goldman tells Obama it's time for him to go. Not a second sooner, since after all GS is his real boss. And Timmah is of immense assistance to the banksters and will not be going anywhere just yet.
And, GS is the one who engineered all this fraudulent debt on both sides of the ocean. I am surprised Timmay hasn't been crucified and burned in the public square when he goes there. These are all FRAUDULENT debts exported from the good ol USA. USA, fuck yeah!
Fresh new world record highs for AMZN today, 3 days after the greatest European credit crisis in recent history.
I'm flabbergasted.
AAPL trying to break $400/share now, have many attempts before..
I sold DIA and SPY bear call spreads, let's see what's up on Monday..
they really haven't come hard after the stocks in momoland just yet.
that's for the next leg down.
I have two thoughts re Robot's thoughts.
First, why junk a trader just because he gives out trading comments? OK, pissing on General Jim is not a good way to make friends around here, but RT is just showing us what is/just has been currently HOT.
Second, I would be careful about picking fights vs. Uncle Gorilla too. I thought (18 months ago) that Treasuries would be a terrible investment, so I bought some TBT... After I saw a loss there, I got out. I would have lost MORE betting against Unca Sugah had I NOT sold.
Our Fed and .gov can spend and print all they want. I am sick of trying to beat them at their game.
So, I just buy and hold gold.
this is the way the world ends
this is the way the world ends
not with a bang, but with a MSM spun, propagandized, herd culling, socially engineered apathtic, blue pill, false, fake, illusion of fiat cash papered over wreckovery whimper...
that is right up until everybody, everywhere simultaneously realizes how fucked they really are
then and only then do we get the bang...
Listen to the eurotrash bristle. lulz. They will be doing it our way or the highway bitchez.
Inflate our way out...it's no secret. Larry Summers announced it two years ago....too bad Timmy and The Bernank hide the truth..makes they look bad. I'm not a big fan of Summers but at least he was up front about it which then allows investors to plan accordingly.
Oil to $220....
Gold to $10,000...
Food...energy...and so on will rise accordingly Jim Rogers says.
"...global muppet caricature..." That's very good!
The thing is, by the time oil reaches even $150 again the whole thing flies apart big time.
'Oil at $220, gold at $10,000'...such a world is armageddon long before those 'prices' are reached.
Nomura: Oil at $220 in ‘Worst-Case’ Scenario. Really?
http://blogs.wsj.com/marketbeat/2011/02/23/nomura-oil-at-220-in-worst-ca...
Gold-Backed Dollar Puts ‘Fair Value’ at $10,000 an Ounce: Chart of the Dayhttp://www.bloomberg.com/news/2011-09-15/gold-backed-dollar-signals-10-0...
Don't ask me...I only read here.
What the fuck is quadruple witching day?
September options expiration, probably futures September contract expiration + few other Fin Instrument
expiration date too.
Nice work fdisk, nice work
When Double, Trouble, Boil and Bubble get their cooches shaved on the same day.
If the US reduces its debts, pray tell where will all the money come from to backstop Europe?
Don't they understand how this system works? You borrow to buy my debt, while I borrow to buy your's.
The problem is that the europeans fully understand.
If they reign in deficits unilaterally but we dont their currency soars. They want us to voluntarily reign in our deficits even though they are the ones in crises so that we dont get an advantage.
Also if we continue to provide ample liquidity and stimulus while europe has to retrench it helps us maintain our hegemony as the supersenior world currency.
This is why the europeans are mad. They are being forced by the market to retrench and know it gives the advantage to america if we dont cut back as much as they do.
USA! USA! USA!
They (the political class) aren't going to reign in their debts anymore than the whores in DC will. There is only one direction for this charade to go, and it isn't backwards. It will go the only direction it's inertia allows it, which is more and more and more debt (Greenspan, Rubin, et al., made damn sure of that.).
Because, if they can just manage to keep it all together while eliminating the problem of debt service costs (ZIRP4EVA), they will completely enslave the world. If issues arise, well there are wars in the works to handle that.
The reason why we can offer europe advice that we dont have to follow ourselves is because we are the world currency. The euro is not. We can run bigger deficits and have lower interest rates than europe. Why? Because we can.
When you get your hand spanked for stealing cookies it just makes you a brat to whine that someone else stole more cookies and no one is doung anything about it.
I love my eurobrothers and sisters, but quit whining that life is unfair.
How does it feel to have Belgium and Austria laugh at your country? I am furious and not at Belgium and Austria, I have had enough of Obama and this gang, these bastards have destroyed our credibility in the middle east and Europe while the Jewish banking Cabal on Wall Street (as they lined their greedy pockets) lied and cheated the global economy with their toxic assets all at our expense. Time to get these MF out and end this banking game with the removal of Bernanke, Geithner.
THE only ones laughing at the USA are the ones who do not understand what is at stake.
The ones who are angry at the usa fully understand how we are winning the currency war, and they dont like it.
Laugh all you want at usa hypocrisy. It only looks like hypocrisy to those who dont understand money. In reality the usa is playing a good game of poker here, but letting others think we are the rube at the table.