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Europe's Terrifying Austerity

Tyler Durden's picture


'The unbearable harshness of being' a European in the midst of crushing austerity has forced everyone from France to Greece to pick up their pitchforks against those stability-minded and conscientious Germans. As Diapason's Sean Corrigan shows in this clarifying chart, the 0.18% drop in Eurozone Real Government GDP must have been truly devastating; or perhaps, just as we have said again and again, it's all about the flow not the stock and any lack of growth is the death-knell for what is called capitalism.

Source: Sean Corrigan of Diapason Commodities


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Wed, 06/06/2012 - 10:06 | 2499087 WhyDoesItHurtWh...
WhyDoesItHurtWhen iPee's picture

Austerisaurus: The Beast That Will Not Die!

Wed, 06/06/2012 - 10:41 | 2499233 FlyoverCountryS...
FlyoverCountrySchmuck's picture

HOW DARE these evil Germans not want to pay for all these FREE CHEESE the Socialists have been promising for votes, for generations!


Don't they know it's just not FAIR???

Wed, 06/06/2012 - 10:52 | 2499274 redpill
redpill's picture

Anyone who willingly structures their life so as to be mostly or entirely dependent upon government and its promises in order to survive is worthy of little sympathy when that inherently dishonest organization fails to live up to its obligations.

Wed, 06/06/2012 - 12:37 | 2499367 ElvisDog
ElvisDog's picture

That's why the Greek elections will be so interesting. If the Greek people return the ND party back to power, I have no more sympathy for them. They deserve what they're going to get. It would be like the abused girlfriend continually going back to the boyfriend who beats her.

Wed, 06/06/2012 - 11:00 | 2499299 TWSceptic
TWSceptic's picture

I know right, it's like they think they have ownership of their money or something, just crazy people.

Wed, 06/06/2012 - 11:47 | 2499544 smb12321
smb12321's picture

Those who rail against austerity are like --- we'll fix the deficit "when things improve" --- "Social Security will be dealt with when employment rises" --- "we'll cut spending when GDP reaches (fill in random number)".  The problem, of course, is that when the time comes something else arises but NEXT TIME...

Does anyone believe spendin as normal will solve the basic problem of too much debt?  How will keeping the State the dominant economic player bring "growth"?  The dirty little secret is that austerity is denounced because it inherently shifts power from State to private sectors.  At some point, some time, some how, these clowns must face the music.   Like Korea or Japan or Estonia or any of a number of nations that have had to suffer for years due to foolish choices, EU nations must bite the bullet. 

Then again, if they wait long enough the FED will extend its helping hand.

Wed, 06/06/2012 - 10:09 | 2499099 Cthonic
Wed, 06/06/2012 - 10:13 | 2499115 hedgeless_horseman
hedgeless_horseman's picture



Si, mucho austero.

Wed, 06/06/2012 - 10:18 | 2499129 Mercury
Mercury's picture

Spain's Parador system is awesome.  When the EUro crashes I'm going back...

Wed, 06/06/2012 - 10:19 | 2499136 GeneMarchbanks
GeneMarchbanks's picture

“We’ve developed capitalism to the point where it’s eating us,” said his father, Jose Andres Arroyo, who’s been unemployed since his trucking firm in Madrid folded three years ago. “How did we do this? We’ve trashed the European welfare state.”

Wed, 06/06/2012 - 10:29 | 2499179 Mercury
Mercury's picture

If "capitalism" and "welfare state" switch places he's a lot closer to the mark.

Wed, 06/06/2012 - 10:31 | 2499188 aerojet
aerojet's picture

Amazing how they juxtaposed those concepts in people's minds!  Now we have millions of entitled people who are about to run out of entitlements and they are very, very pissed off.  I wonder if they are too lazy to start anothe war, though?

Wed, 06/06/2012 - 10:32 | 2499198 GeneMarchbanks
GeneMarchbanks's picture

Nay, he pretty much sums it up. You desperately need another set of books.

Wed, 06/06/2012 - 11:00 | 2499260 Mercury
Mercury's picture

Well, I think I already have as I’m generally suspicious of the (essentially Marxist) term “capitalism” unless it’s explicitly stated as being synonymous with things like free enterprise, private property and rule of law.

Probably since the Medicis it has been the case that most developed economies, including communist, have been dominated by abstract bits of paper (and the 1s & 0s kind) representing claims on real and feigned capital.  That to me is capitalism and we're not likely to get away from it any more than we're likely to get away from the ubiquity of computers.

Nonetheless, it’s hard to claim that the welfare state hasn’t played a leading role in this cautionary tale.

Wed, 06/06/2012 - 11:02 | 2499313 GeneMarchbanks
GeneMarchbanks's picture

The so called "welfare state" isn't going anywhere just as the notion of the 'State' as an impeding force on 'private' enterprise isn't either.

At this stage it's always smart to take a step back and ask where exactly a person stands on our present capitalist model?


Wed, 06/06/2012 - 11:59 | 2499634 Mercury
Mercury's picture

Right under the whip

Wed, 06/06/2012 - 12:02 | 2499652 smb12321
smb12321's picture

Of course the welfare state is going somewhere.  At some point, everyone - even beloved welfare states run by loving bureaucrats - run out of money or more likely, are unable to get trick more fools into giving them some.  In younger days (as a dumbass) I adored the new Europe - work a few hours, play a lot, no worries about health care, military or retirement.  How absurd.

An aging continent with few births and shrinking population has come this far by massive borrowing, denuding themselves defensively and astronomical taxes. Now it's 2012 - meet the real world, Europe.   

Wed, 06/06/2012 - 22:06 | 2501913 The Age of Usef...
The Age of Useful Idiots's picture

Your 'real' world is the world which is best described as neofeudalism. You and many millions have benn convinced that even though unprecedented wealth is being created, there is simply no way to afford public health care, public education, libraries, help the needy and have a society where eveyone will have a shot to make it through hard work. People like you idolize the 50s and the American Dream while forgetting that back then, corporations actually paid taxes and the upper tax-rate for the super rich was 90%. Look it up, and ask yourself why you don't know that.

We will all have to fight each other to death to survive on whatever crumbs the plutocracy throws at us, while we work ourselves to death till the day we die. Yes, free time is bad, because we might have a moment to sit back and reflect, or enjoy our families, or maybe you know, READ and educate ourselves.

The moment TPTB convince you that the 'real' world is a world with no middle class and where everyone is a corporate-banker slave looking out only for himself, is the moment you dig your grave and your society's grave. Because in a society where inequality has reverted back to the 20's, with the 1% controlling your representatives and owning all the media, it surely makes sense to think that the problem is public unions and teachers, because, you know, guys like the Koch brothers and their muppet Scott Walker tell you so, because, you know, they really care about you and your interests. Leaving you as the only alternative the 'Hope' guy to play the good cop while he also screws you, but gently and compassionately.

We deserve to be slaves. We can't compete with these guys. Good luck in that world. You'll need it.

Wed, 06/06/2012 - 23:54 | 2502154 smb12321
smb12321's picture

Jesus, lighten up will you?  You don't know Jack Shit what I think about the 50's. I know your kind - everybody is out to get them.  The GOP is evil, Dems are traitors, all governors and senators are slaves to the bankers, all Presidents are part of the plot, the citizens are "Sheeple" who deserve bad treatment, blah blah

There is no formula allowing an unproductive citizenry to support a welfare state providing "free" health care, retirement, education and checks for not working. Excuse me.  There are two ways - massive debt or wealth confiscation and redistribution.  Taxes are out. .  Europe's 50%+ rates can't come close and that's with a paltry percent or two for defense. Every damn dime is going into social welfare.  And European R& D is fading.  Last year the US was granted more patents than every nation (including Russia) in Europe combined. 

Thu, 06/07/2012 - 01:43 | 2502405 The Age of Usef...
The Age of Useful Idiots's picture

You think you will be better off than most other people. You think your vote makes a difference. You think you are rational. You think you will not ever need help. And most of all, you think than when everyone is for himself only, that somehow you'll do fine because, well, I guess you are that special.

Fine. Like I said. Good luck.

Wed, 06/06/2012 - 10:08 | 2499095 Kayman
Kayman's picture

The Dinosaurs are in Panic mode. But the small and nimble will survive.  In fact, the smaller your footprint the greater your chances.

Wed, 06/06/2012 - 10:10 | 2499106 Spastica Rex
Spastica Rex's picture

Can I still keep my new Escalade, and my two custom Harleys? Oh, and I have a new toy hauler for my family's quads - will that be a problem?

Wed, 06/06/2012 - 10:15 | 2499117 Treeplanter
Treeplanter's picture

Not a problem.  We share your fantasy.

Wed, 06/06/2012 - 10:10 | 2499104 bigwavedave
bigwavedave's picture

Meanwhile Marcus Suckerberg is rumoured to be in meetings with V and MA to allow children under 13 to have credit cards. Desperate?

Wed, 06/06/2012 - 10:10 | 2499108 blueridgeviews
blueridgeviews's picture

When will America be forced into austerity or will we just continue to suicidally spend until we collapse in fell swoop?

Wed, 06/06/2012 - 10:16 | 2499125 intric8
intric8's picture

Many of these European countries have more or less a homogenous population, and it's worse enough. With the racial clusterfuck that is now the U.S., it will not only become rich vs poor but race vs other race; the multiracial environment that made America a great nation will ultimately be its undoing. It will be madness

Wed, 06/06/2012 - 10:34 | 2499208 aerojet
aerojet's picture

No, it won't.  Responsible people (mostly--BUT NOT ALL--of European ancestry, ironically enough) are still the majority in most places and still in charge of running vital infrastructure.  If push comes to shove, the responsible people will wipe the floor with those who create problems.  It won't be pretty, but the only reason we put up with the free riders is because we have had the luxury of doing so.

Wed, 06/06/2012 - 11:09 | 2499346 Tapeworm
Tapeworm's picture

Just like you showed them in Detroit.

Wed, 06/06/2012 - 13:03 | 2499913 sskid
sskid's picture

The multiracial environment that made America a great nation.


The multiracial environment is relatively new development, sponsored in the sixties with good old Ted Kennedy aa frontman for the immigration reform act.

From my perspective this nation has gone down hill ever since.

Wed, 06/06/2012 - 10:18 | 2499135 Treeplanter
Treeplanter's picture

In 3 to 6 months.  What's your hurry?

Wed, 06/06/2012 - 10:22 | 2499148 lostintheflood
lostintheflood's picture

When will America be forced into austerity or will we just continue to suicidally spend until we collapse in fell swoop?


the latter...

Wed, 06/06/2012 - 10:16 | 2499119 CrashisOptimistic
CrashisOptimistic's picture

Stop Measuring Deficits And Debt As A % of GDP.

Governments serve people, not GDPs.  Measure debt as a % of population.

The reason this is not done is subtle.  They know GDP is baselined to grow at a higher rate than population.  By using this GDP yardstick, left wing types can get more gov't spending long term.

Wed, 06/06/2012 - 10:16 | 2499122 RobotTrader
RobotTrader's picture

Meanwhile, the pundits will spin it as:


1) "It can't get any worse"

2) "The worst is already priced in"

3) "The recovery that will follow will be enormous"

4) "Five years from now Europe's 2012 problems will be long forgotten"

5) "Why didn't everyone load up on risk assets when the 10-yr. was at 1.50%?"

Wed, 06/06/2012 - 10:17 | 2499128 LULZBank
LULZBank's picture

You switching sides?

Wed, 06/06/2012 - 10:25 | 2499163 Sudden Debt
Sudden Debt's picture

He's still pushing stocks, look at his last line.

Give it 5 more minutes and he'll give you some lozer stock advice :)


Wed, 06/06/2012 - 10:20 | 2499143 Cursive
Cursive's picture


Nice to see a glimpse of the old Robo (before he became overly-jaded and quoting Rasputin all the time).

Wed, 06/06/2012 - 10:56 | 2499288 walküre
walküre's picture

The funny thing is that ECB is not doing squat or at least they're not admitting it. They're putting the onus back on the European governments to fix their problems. LOL. The Europeans don't have individual CBs to fix anything. Is the ECB that stupid? But market is so confused that it is buying the lows here. We'll see how long this state of confusion starts. Greece is voting in a few weeks - again. Spain's economic output is back to 1994 levels and Italy hasn't even entered the stage full and center.

The soccer show is starting this weekend to entertain the masses and divert the attention.

They're all escaping reality. It's fucking crazy what is going on. The awakening will be rude and they will suffer one hell of a hangover.

Wed, 06/06/2012 - 10:16 | 2499124 LULZBank
LULZBank's picture

Austerity, a new word for slavery.

Wed, 06/06/2012 - 10:19 | 2499138 CrashisOptimistic
CrashisOptimistic's picture

Somewhat the reverse.  Without austerity, there can be no escape from debt.

Wed, 06/06/2012 - 10:22 | 2499149 LULZBank
LULZBank's picture

I dont have any debt, and never did leveraged bets that went wrong.

Why should I go through austerity, if you can please explain?

Wed, 06/06/2012 - 10:25 | 2499161 CrashisOptimistic
CrashisOptimistic's picture

Spend what you want.  

But if you're in a country whose government ran up debt, vote for the candidates who advocate austerity for government.

This is not rocket science.

Wed, 06/06/2012 - 10:29 | 2499181 LULZBank
LULZBank's picture

I have one life and so does my kids and family. Why should I or them pay for someone else's stupidity?

How about making the culprits pay?

This is no rocket science either.

Wed, 06/06/2012 - 10:33 | 2499199 CrashisOptimistic
CrashisOptimistic's picture

The culprits of government debt are those candidates who ran it up.  

Vote them out.  It is they who will hurt your kids.

Wed, 06/06/2012 - 10:36 | 2499216 aerojet
aerojet's picture

Voting them out requires a population that understand key issues and can act in their own self-interest but without asking for government largesse.  I don't think those people exist, for the most part.  If you're on the teat, you're trying to stay on it, just look all around Europe...

Wed, 06/06/2012 - 10:34 | 2499206 Lebensphilosoph
Lebensphilosoph's picture

The politician, the voter, the bailed-out banker, the government employee and the welfare scrounger? Can we agree on that?

Wed, 06/06/2012 - 10:37 | 2499221 LULZBank
LULZBank's picture

Rich getting richer and poor getting poorer, can we agree on that?

I did'nt vote as I dont trust any politician, so where's my justice?

Wed, 06/06/2012 - 10:41 | 2499236 Lebensphilosoph
Lebensphilosoph's picture

Yes. But it was government spending, not government austerity, amongst other things, that got us to the point of there being nothing left to hand out to the poor.

Wed, 06/06/2012 - 10:43 | 2499243 Lebensphilosoph
Lebensphilosoph's picture

There isn't nay justice. You are born into the system liek everyoen else and are forced to live in it.

Wed, 06/06/2012 - 11:38 | 2499515 q99x2
q99x2's picture

You should see the outfit they gave me to wear.

Wed, 06/06/2012 - 11:26 | 2499448 Tortuga
Tortuga's picture

Didn't vote. That's why there is the term sheeple. Note some of the vote counts last night in Wisconsin were over 100%. People that had never voted, wakeing up to the fact that there are more people like them, that play by the rules but were too busy making a living and doing Life, than there are parasites that steal their tax dollars and live better than tax payers. There is still time to register to vote before Nov. There is only one other alternative to fix what is wrong.

Wed, 06/06/2012 - 10:36 | 2499214 Cursive
Cursive's picture


No man is an island.  Or maybe you are unfamiliar with Jon Dunne?  Yes, it sucks sometimes, but we have to live with other people's problems.  The only alternative is to get shipwrecked and spend your time talking to a Wilson volleyball.

Wed, 06/06/2012 - 10:41 | 2499239 LULZBank
LULZBank's picture

Got your point, you are probably well read and rather philosophical and man of reason.

I can share and live with other people's problems but FIRST I would want to see the culprits getting what they deserve.

You cant tell me to lose my job, sacrifice my standard of living and my family's future when the big banks are getting bailed out, CEOs going away with multi million (billion) retirement packages and likes of Corzine walking free!

It is not a natural disater, where I woudl happily share my bread, but a man MADE disaster! Its like you are asking me to share someone's time in jail, for his crimes!

Wed, 06/06/2012 - 10:47 | 2499259 Lebensphilosoph
Lebensphilosoph's picture

I don't expect you to. I don't expect anyone to. That's the problem. Ultimately, most people are going to do what they see as best for themselves and their loved ones in the immediate future in dire times. Who can blame them.

Wed, 06/06/2012 - 22:38 | 2501993 billsykes
billsykes's picture

Cruel and sudden, hast thou since
Purpled thy nail in blood of innocence?

Wed, 06/06/2012 - 10:31 | 2499185 Lebensphilosoph
Lebensphilosoph's picture

Your ethical question does not address his statement of fact. Even looking past that, it is rather confused. If you benefited from Government deficit spending in excess of the taxes you paid, then you share responsibility in government debt, and 'deserve' austerity

Wed, 06/06/2012 - 10:35 | 2499210 LULZBank
LULZBank's picture

I would agree with your point, if I see "them" austering from villas and caviar, until then I take you as someone who benefited from the government spending AS WELL AS government bailouts.

Wed, 06/06/2012 - 10:38 | 2499225 Lebensphilosoph
Lebensphilosoph's picture

My statement applies to anyone who took in more than he gave, rich or poor.

Wed, 06/06/2012 - 10:56 | 2499285 LULZBank
LULZBank's picture

Do you genuises realise that austerity, cutting spending, would cause sharp contraction in our lovely fractional banking system which in turn would cause deflationery collapse.

The other option, which would be pursued, would be printing like crazy and stimulating "growth" and spending, which would cause hyperinflationery collapse.

So what will be remain of austerity will be in effect, something similar to slavery.

Wed, 06/06/2012 - 11:22 | 2499420 Overflow-admin
Overflow-admin's picture

Do you mean in a resource-based economy way? Oops, I bet the 0.01% that didn't take more than they gave isn't the 0.01% we know ^^

Wed, 06/06/2012 - 10:45 | 2499258 rwe2late
rwe2late's picture

 The "benefits" of global militarism, trillion dollar handouts to banksters, and protections for the "health care" racket ...

are somewhat exaggerated

Wed, 06/06/2012 - 10:36 | 2499218 JohnKozac
JohnKozac's picture

They will not stop spending OPM. Why should they? Nothing to lose and lots to gain when you take the profits and dump losses on the public. That's the new WS model of business.

Wed, 06/06/2012 - 10:23 | 2499154 Lebensphilosoph
Lebensphilosoph's picture

Really? There I was thinking it had become a word for the next moral bugbear of hysterical females of both sexes, like slavery was to Harriet Beecher Stowe.

Wed, 06/06/2012 - 10:21 | 2499145 Sudden Debt
Sudden Debt's picture

The lifeboats where thrown in the fireplace a long time ago...


Wed, 06/06/2012 - 10:25 | 2499162 SDRII
SDRII's picture


In addition, John L. Thornton, currently a Barrick Director, has been appointed Co-Chairman of Barrick's Board of Directors. These leadership appointments are effective immediately. John L. Thornton is a leading international businessman, corporate director, Chairman of The Brookings Institution, Director of Global Leadership at Tsinghua University in Beijing and a former President of Goldman Sachs. Mr. Thornton holds degrees from Harvard College, the University of Oxford and the Yale School of Management.

GS, Brookings and China - the Trifecta

And a little background on Munk...

Peter Munk, chairman of Barrick Gold, the world’s largest gold producer, first met Mr Rothschild in his mid-20s. His father was reportedly concerned about his son’s partying and asked Mr Munk to have a chat. “It began as a favour and yet I ended becoming an investor, a follower of his career,” said Mr Munk, who recently appointed Mr Rothschild to his own board. “He is the most mobile businessman I know. In resources success depends on international contacts – whether or not someone picks up the phone in Rio, Mumbai, Qatar and Beijing. Would you believe anyone not picking up the phone for Nat Rothschild?”


Wed, 06/06/2012 - 12:54 | 2499881 Sandmann
Sandmann's picture

Peter Munk sold out Barrick to Oleg Deripaska in Russia who is a friend o=f Rothschild and Lord Snotty Mandelson, former EU Trade Commissioner. Munk got Deripaska to buy into Frank Stronach Magna Corporation in ONtario and then the Russians thought they would use Magna as a means of acquiring Opel from GM until German car companies dumped Magna as a supplier

Wed, 06/06/2012 - 10:28 | 2499173 beentheredonethat
beentheredonethat's picture

Great movie - Naked women with hats. Draghi?


Wed, 06/06/2012 - 10:31 | 2499187 cherry picker
cherry picker's picture

Everyone was expecting Japan to croak and die anytime and it is still managing without austerity and spending more than it makes.  That is the beauty of printing coin.

They have been doing this for a long time, as does the US of A.

Maybe we just have to get used to this new system, buy an I-phone and all will be well.  Meanwhile my tummy is wishing it had a fine steak in it, but my money collecting formulas have dried up.

Wed, 06/06/2012 - 10:38 | 2499222 aerojet
aerojet's picture

Very true.  But they're running out of time, too.  Europe --> Japan --> China? --> US.  We fall last, or maybe we don't fall because everyone else fell first.  I don't know.  It isn't going to be pleasant.

Wed, 06/06/2012 - 10:33 | 2499200 Snakeeyes
Snakeeyes's picture

More Statist screaming about "Don't take away our cookie jar!"

The Fed now wants more Twist despite its failure to correct unemployment or fix the housing market.

Wed, 06/06/2012 - 10:49 | 2499266 midgetrannyporn
midgetrannyporn's picture

As long as they are bailing out the bankstas austerity for peons is a crime against humanity. Let it all burn to the ground or water everything equally.

Wed, 06/06/2012 - 10:55 | 2499280 Lebensphilosoph
Lebensphilosoph's picture

But that's not austerity, is it? It's theft from the middle class.

Wed, 06/06/2012 - 11:08 | 2499339 midgetrannyporn
midgetrannyporn's picture

artifical support for banks and the stock market is welfare for billionaires.

Wed, 06/06/2012 - 11:29 | 2499471 Sandmann
Sandmann's picture

Get real. It isn't "Austerity" - it is hard in Britain outside London where TAX INCREASES have squeezed as Banks have INCREASED Credit Interest Rates and Food and Energy Prices have soared.  It isn't that Governments are cutting back they are simply raising Taxes and User Fees - in Greece as in Britain. It is the cost of living which is exploding. Outside Banking in the UK people are being screwed. Look at today's FT Report how Salary Costs are taking a larger share of Banks revenues now they have screwed over Shareholders.

This is the New MEDIEVAL CHURCH in our lives - BANKS - they are the new High Priests in The Temple of Mammon demanding human sacrifice.

Wed, 06/06/2012 - 11:44 | 2499550 luckylongshot
luckylongshot's picture

With the problem that is destroying Europe being that economies cannot survive under the weight of the interest on the trillions of Euros they have borrowed the answer seems to be either that the Rothschilds forgive some of the trillions in debt that the rest of the world owes them or a systemic collapse occurs.   However with their focus on stories about bailing out banks the journalists are managing to somehow miss this. What should be being discussed in the media now is returning the power to create money to the people so all the cash that is being siphoned off by the Rothschilds starts to come back into the system. Sadly this is not the case.

Wed, 06/06/2012 - 11:50 | 2499585 THE DORK OF CORK
THE DORK OF CORK's picture

What a load of horseshit.


GDP is a terrible indicator of pretty much everything....... Italian oil demand (March) fell 12.2% YoY , Spain 8.6% ,OECD Europe 4.4%

OECD North America -2.8%............

If North American oil demand fell 12.2% YoY yee poor souls would begin to drop dead en masse on the way back from the fucking supermarket

Wed, 06/06/2012 - 12:31 | 2499776 jmc8888
jmc8888's picture

Wow more numbers that don't mean shit.

So let's get this right.

If America spends 500 billion more on war this year.

Then cuts social security payouts by 495 billion this year.

Did austerity happen?


Of course it did.  Once again people don't know how to read charts. They ASSUME that because the total spent by gov't went up, it means gov't programs spent as much or more than before.

Tell that to the people who can't get their drugs, or AIDS tests, or have lower wages, and the list goes on and on.  People ARE literally dying because of the austerity over there, but the of course find a number one likes, and suddenly it makes sense. 


It's really sad when people think others 'deserve' austerity.  As if being sold down the river wasn't bad enough, now dumbasses say they 'deserve it'.  These people only know their 'dogma', which of course, is as wrong as Bernanke.




Wed, 06/06/2012 - 13:21 | 2499897 slewie the pi-rat
slewie the pi-rat's picture

hey tyler!

you and seanC oughtta maybe consider another POV?

try:  it's all about daFlow till it ain't noMo

b/c according to slewienomincs and the dallasFedHead:

it ain't about daFlow noMo = when daFlow must be curtailed or decreased for sytemic stability

even on an old steam engine the governor is needed or it will goTo runaway

so why doncha both wake up, smell the coffee, and stop pretending you didn't maybe ferget about that little detail, ok?

we know the flows are important just by hanging out here w/ YenCross

don't you know that the banksters have a bigger problem which needs to be and is being addressed (by deflation, now) b/c the system's flows need governance for the system to continue to function?

it also needs to be addressed by the budgets;  people now have had it real good for real long (at least we all got cars, TVs, and ipads and mcPads for the rich and famous clones) 

we're outa pate and ice cream for now;  time to eat yer fuking peas or the next geese are gonna die prematurely and the bigCow we're all milking is gonna just go tits up, systemically

this isn't too complex, even for the readership and leadership here on zH

trust me, ok?

is it just possiblyReal, too?  is this, possibly, what the chairsatan sees?  could this explain some rather recent  FED policy?  and if so, would not the obvious prioity = fund the goobermints (if possible) and everybody else can suck hind titiies for a while? where evElse = evBodyElse!

so, yes, austerity is soooo terrifying, but austerity is rilly justabout trying to control those flows a little bit without just sending people to death camps.  again

but you and sean go ahead and advocate the death camps if you wish, if that is indeed the logical outcome of playing with the "flow dynamic" in the presence of people who believe it is "evolution" for humans to become ant-like

free speech is wunnerful...

Wed, 06/06/2012 - 19:36 | 2501465 Plumplechook
Plumplechook's picture

Yep - austerity having no impact at all in Europe.   Those 50+ percent unemployed kids in Spain are voluntarily out of work.   Those breadlines in Athens just a groovy new style of al-fresco dining.   Those street-after-street of shuttered retail outlets in Dublin just rich shop keepers on luxury vacations somewhere.

Thanks for enlightening me about this Tyler.

What we of course need right now is some SERIOUS austerity!  Once we get to 90+ percent unemployed in Spain,  people eating wallpaper in Athens,  and Irish eating their kids (a modest proposal!)   - only then will the markets be satisfied that enough pain has been administered.   The plan to re-instate serfdom in Europe is right on track!


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