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Germany Is Cornered

Tyler Durden's picture




 

Via Mark J. Grant, author of Out of the Box,

Germany: Backed Into the Corner
 
 
 
Several recent releases of data bring the problem into focus; a sharp focus. With Ms. Merkel in China trying to buoy the European position China announced that exports to the European Union declined 16.2% in July with sales to Italy falling off the cliff; down 35.8%. These are not small variations or figures just slightly off the consensus opinion but disastrous numbers that clearly indicate the deepening recession that is taking place on the Continent and there will be quite serious consequences that come from a fall-off of this magnitude.
 
 
 
This morning the Consumer Sentiment numbers were released for Europe and the number was 86.1 down from 87.9 in July and far worse than the median forecast of 87.5 and the worst number, in fact, since August 2009. In Germany, once thought to be almost invincible and somehow outside the recession that is raging in Europe, the crisis is just beginning but it has commenced and it is clearly indicated by the newest data which shows that Germany has begun the descent down the rabbit hole with the rest of its brethren. Unemployment increased in Germany, which was reported out this morning, to 2.9mm people and it was a greater drop than had been forecast. German capital investment fell 0.9% in the second quarter, factory orders were down 7.8% from a year earlier, business confidence fell for the fourth straight month and growth slowed to 0.3% as all of the EU-17 reported a -0.2 contraction.  
 
 
 
Europe, economically, is in serious trouble and as the situation worsens the tide has run out for Germany. This is an early call and not one for any hedge fund to trade on as I am looking further down the road but as Greece, Portugal, Ireland and Spain have demonstrated; the day of the Jackal is coming. We now find a Europe that is as divided as the American elections. We have a bi-polar condition where France, Greece, Italy, Ireland, Spain, Portugal, a slew of smaller countries and even the ECB are sitting in one corner of the boxing ring and where Germany is virtually alone in the other with perhaps Austria handing Germany the wet towels. I would assert that Germany is now trapped and that she has lost control of situation first by the way the game has been played and second by the limitations of her capital. A careful examination is called for and an explanation made.
 
 
 
The rhetoric has been the same; an irreversible Euro, an irreversible European Union, an independent ECB and a greater good for each and every country in Europe. This has been the glittering neon sign since 1999 and it flashed a kind of reality up until the time when the electricity began to sputter and certain parts of the sign went dark. Now with so much of the sign black, repairs are not only called for but demanded by the countries no longer in prosperity but in decline. During all of this time Germany waved the flag along with everyone else but when the crisis began in earnest Germany chose to still wave the flag and to staunch the flow of blood by demanding austerity, greater fiscal control and consequences for the use of their money. This ploy worked for a while until the recession deepened, the politics as a consequence in many nations began to get ugly due to the various cut-backs in social and civil programs and the troubled nations in Europe began to line-up to demand what had been promised; an economically united Europe in both good times and bad. Consequently we now stare at a reality where Germany is backed into a corner which will either result in Berlin being forced to say “No” or refuse to fund or leave the EU or allowing herself to be dragged down to the same cost of funding and the same standard of living as some median for the entire Continent. Greece, Spain, Italy and the use of funds by the ECB are going to force Germany to make some very tough decisions where local politics will dictate the choices and none of the possibilities, not one, bode well for Germany or the German people. 
 
 
 
Sometimes when I hear various people speak about the ECB I am amazed by their viewpoint. The ECB is not some alien nation found in another universe. The central bank is owned by the central banks of the nations in Europe and they are accountable for her profits or losses with Germany being accountable for about 22% of the balance sheet. There seems to be a certain fantasy in the markets that the ECB can do this or that without consequences, without losses and without anyone being accountable. Where this fairy godmother viewpoint comes from I don’t know but it is without doubt a fantasy with no basis in the real world. I can assure you that the ECB is now full of so many foul smelling securitizations, of so many loans that have soured and of so much collateral that has an actual worth of perhaps the paper upon which it is written that the stench will eventually fill the nostrils of the ratings agencies and an ever widening group of investors that are choosing to steer clear of Europe. The ECB is one flash point of the European dialogue because troubled Europe is demanding that its resources be used to not just bail them out but continue their standard of living and lower their cost of funding but there is a consequence to this and the Germans know it which is that it is a disguised kind of Eurobonds where a monetary transference takes place with the ECB as the conduit. This is important to understand so I repeat; the poorer nations are demanding that the ECB buy their debt and lower their cost of funding so that the ECB becomes the vehicle for a transfer of wealth from Germany to the rest of Europe.
 
 
 
Besides the ever growing rift at the ECB you have three consequential nations demanding Germany’s money which are Greece, Spain and Italy, in the not too distant background, which is why Italy has sided with the troubled countries and then you have France, where I wonder if she is not going to propose some scheme soon to benefit her finances. Greece wants the next tranche of $50 billion and then she will ask for more and then Spain is playing the game of charades where she contends it is just her banks and with $22.5 billion pegged for her regional debt and pleas coming shortly that will be more than 100% larger, I estimate, Spain is trying to do everything possible not to engage the Troika and an actual examination of her devious financial position so as to avoid any kind of peek at reality which would drive Spain, in my opinion, over the cliff. Then Italy, utilizing the most recent data available, is contracting more than any other significant nation in Europe so that her turn in the begging line is coming soon.
 
 
 
Make no mistake; Germany is now in the corner, will have to make some very difficult decisions and she is trapped beneath the banner which she has long waved. The German economy is only $3.55 trillion and she is being asked, in fact demanded, to turn over her capital to support the rest of Europe which will cause a serious decline in her own finances if she undertakes the task. I can smell the air; I think you will soon find a politician in Germany who is opposed to the policies of Ms. Merkel and who will rise to power based upon “Germany for the Germans” just as Austria has now stated that no more of their money is going to be used to bail-out other countries and that Austria has reached her limit.
 
 
 
All of this is also defined by a very warped time-line. The problems are now, the recession is now, the economic difficulties are now and the solutions that have been proposed are one to three years out. The markets tend to get confused here but there is a huge divergence between the seriousness of the problems residing in the “present” and the proffered answers perhaps found in the “future” which would take years to accomplish if accomplished at all. I point specifically to a change in the European treaties, or a change in the structure of the ECB, or any new scheme for monetary transference, or some kind of central oversight of all of the European banks or a central fiscal authority for all of Europe or any number of other plans that have been trotted out in hopes that they might stick or mollify the markets. The solutions are years out; the crisis is now and this is one of the central problems of this unfolding drama.
 
 
 

Germany is in the box and I am afraid that is now Frau Pandora and not Frau Merkel who owns the key.

 

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Thu, 08/30/2012 - 09:06 | 2749173 GetZeeGold
GetZeeGold's picture

 

 

Is this where we open fire?

 

Thu, 08/30/2012 - 09:17 | 2749195 Rubicon
Rubicon's picture

Not until you see the whites of their eyes laddie!

Thu, 08/30/2012 - 09:35 | 2749232 Dalago
Dalago's picture

They will shit on EVERYone's chest.   Don't knock it till you try it.

Thu, 08/30/2012 - 09:49 | 2749276 Popo
Popo's picture

Historically speaking, war comes next.   Every time.

Thu, 08/30/2012 - 09:54 | 2749290 Deo vindice
Deo vindice's picture

Those who put Germany into the corner should beware. Wise old king Solomon said:

"He that passeth by, and meddleth with strife belonging not to him, is like one that taketh a dog by the ears." (Proverbs 26:17)

It also means that once they have hold, they will not easily let go.

Thu, 08/30/2012 - 11:10 | 2749541 caconhma
caconhma's picture

Germany political elite is just paid mercenaries of the zionist banking mafia. They are slave masters of German people.

The only question  to be answered: how long will German people take this shit? After all, they are the descendants of the great people who destroyed the mighty Roman Empire!

Thu, 08/30/2012 - 11:59 | 2749703 Totentänzerlied
Totentänzerlied's picture

And what exactly did they do when Old Fritz's generals led millions of them to their utterly pointless deaths and economic ruin, ditto (minus the deaths) the Weimar Republic, ditto Hitler and his generals, ditto (with fewer deaths) the Soviet occupation + rape, ditto East Germany for 40 fucking years???

Slaves. Shall. Serve.

Thu, 08/30/2012 - 12:56 | 2749888 dugorama
dugorama's picture

i have never heard or read anyone say Germany = Zionism.  Ever.  THAT'S a fresh perspective.

Thu, 08/30/2012 - 11:04 | 2749517 chunkylover42
chunkylover42's picture

Germany leaves the Euro.

Thu, 08/30/2012 - 11:22 | 2749579 FinHits
FinHits's picture

A small correction, as this 22% liability share error has been repeated many times now: German ECB Eurozone-key is 27.1%.

The 22% share is of ECB equity, but one should note e.g. Britain and Sweden don't share profits or costs even though the own tiny slivers of ECB equity.

Thu, 08/30/2012 - 09:45 | 2749260 Seorse Gorog fr...
Seorse Gorog from that Quantum Entanglement Fund. alright_.-'s picture

I just knew you were going to get in here 1rd!

Thu, 08/30/2012 - 14:02 | 2750104 Zeilschip
Zeilschip's picture

So to summarize, Germany is trapped in a corner?

Thu, 08/30/2012 - 09:07 | 2749174 Stoploss
Stoploss's picture

Adios Angie, now fuck off. Forever.......

Thu, 08/30/2012 - 09:08 | 2749177 GetZeeGold
GetZeeGold's picture

 

 

Do please leave the checkbook.....we could use the money.

 

Donka!

 

Thu, 08/30/2012 - 09:10 | 2749178 Ar-Pharazôn
Ar-Pharazôn's picture

everytime you make a /sarc comment i LMAO

 

;)

Thu, 08/30/2012 - 09:18 | 2749200 OttoMBMP
OttoMBMP's picture

“Germany for the Germans”

Be assured this will not happen. Will not be allowed to happen. Is not according to plan of TPTB.

Germany has been and will be run by the German members of the international power elite. The rest is noise.

Thu, 08/30/2012 - 09:26 | 2749215 Blasé Faire
Blasé Faire's picture

"Germany for Germans" is a historically sensitive and scary topic.  Different phrasing may help... but if that's the tagline, I agree, I'm not sure it will happen.

Still, it's rare that the biggest kid in school gets bullied.

Thu, 08/30/2012 - 09:39 | 2749242 OttoMBMP
OttoMBMP's picture

Mmmh, I think I know what you mean. But actually scary would be "World for Germans" or something.

Thu, 08/30/2012 - 10:04 | 2749328 WhiteNight123129
WhiteNight123129's picture

Otto, I think you are too pessimistic! THe situation does not need a Germany for Germans just German money for the Germans, without nationalistic overtone... That is politically quite palatable as opposed to a Germany for the Germans.

Thu, 08/30/2012 - 10:16 | 2749336 monad
monad's picture

Pick your religious crime syndicate. It was never "the Germans"... at least not after the Pope armied up. Gott mit uns...

Thu, 08/30/2012 - 10:09 | 2749343 Ar-Pharazôn
Ar-Pharazôn's picture

TPTB is perhaps

 

TOO PIG TO BAILOUT?  :P

 

joking.....

Thu, 08/30/2012 - 10:09 | 2749344 Ar-Pharazôn
Ar-Pharazôn's picture

TPTB is perhaps

 

TOO PIG TO BAILOUT?  :P

 

joking.....

Thu, 08/30/2012 - 09:14 | 2749186 The Wizard of Oz
The Wizard of Oz's picture

NOBODY PUTS ANGIE IN THE CORNER!!!!

Thu, 08/30/2012 - 11:17 | 2749565 Panafrican Funk...
Panafrican Funktron Robot's picture

Yay @ the reference lol

 

The funny part about the discussion of the Euro is the assumption that individual countries matter at all here.  The following are the actual players for world currencies/power:

Barclays

Lloyds

RBS

HSBC

JPM

Deutsche Bank

These entities control everything.  Everyone else (including even Goldman) are bit players.  When people start whispering that Morgan Stanley is the next to fall, it's probably a good idea to listen, because they sure as fuck aren't in the club.  

Thu, 08/30/2012 - 09:07 | 2749176 Ar-Pharazôn
Ar-Pharazôn's picture

if you can, buy only stuff that comes from your country!

 

stop buying CHINESE

 

start buying american & european!

Thu, 08/30/2012 - 09:27 | 2749219 hannah
hannah's picture

so how do the chinese buy anything if they cant buy chinese...?

Thu, 08/30/2012 - 09:33 | 2749228 Ar-Pharazôn
Ar-Pharazôn's picture

do i look chinese?

Thu, 08/30/2012 - 09:41 | 2749250 Vincent Vega
Vincent Vega's picture

But I love Chinese food.

Thu, 08/30/2012 - 12:14 | 2749753 Element
Element's picture

gah!  .... so ... you're ... like a ... cannibal then?

Thu, 08/30/2012 - 09:12 | 2749180 Death and Gravity
Death and Gravity's picture

The German-bashing is tiresome. Inevitably som smug c*** will make an, at best, thinly veiled Nazi reference to disparage anything and everything German.

The responses from the PIIGS countries with their own irresponsible spending and economic behavior, now that that hourse of cards is tumbling, has been to violenty demonstrate (inevitable with some banner or poster with some swastikas on them), and demand moar dosh from the Germans, because theyre "rich", because "they got us into the trouble", and if all else fails, because they were nazis (or probably still are).

Sorry, amigos. Such hostile demeanor simply does not deserve bailing out.

Thu, 08/30/2012 - 09:15 | 2749189 Ar-Pharazôn
Ar-Pharazôn's picture

i totally agree, Germany already payed enough for what happened in WWII.

 

i am still waiting USA paying back North American Indians for 400 years of murders, torture, rape, etc etc

Thu, 08/30/2012 - 09:18 | 2749198 GetZeeGold
GetZeeGold's picture

 

 

400 years of....

 

Man....how the time does fly.

 

Thu, 08/30/2012 - 09:31 | 2749227 Dr. Engali
Dr. Engali's picture

I don't recall murdering, raping , or torturing any  American Indians.

Thu, 08/30/2012 - 09:34 | 2749229 Ar-Pharazôn
Ar-Pharazôn's picture

i hope that your comment was sarcastic.

 

if not it's better if you back to history school, but not in the USA

Thu, 08/30/2012 - 09:36 | 2749233 GetZeeGold
GetZeeGold's picture

 

 

Are you an Indian chief? If so.....can I get any free crap from the casino?

 

Thu, 08/30/2012 - 09:41 | 2749249 Ar-Pharazôn
Ar-Pharazôn's picture

lol...

Thu, 08/30/2012 - 09:37 | 2749238 Ar-Pharazôn
Ar-Pharazôn's picture

if you go back*

Thu, 08/30/2012 - 10:53 | 2749484 4horse
4horse's picture

if you go back*

2Germany  . . . ? . . . 4Who

 

If you want to know my strategy, look at a map*
                                                                             -napoleon

http://landdestroyer.blogspot.co.uk/2012/08/nato-terrorists-target-syria-algeria.html

With the US now openly arming, supporting, and literally "cheering" Al Qaeda in Syria, it is clear that the "War on Terror" is an unprecedented geopolitical fraud perpetuated at the cost of millions of lives destroyed and an incalculable social and economic toll. NATO, with full knowledge of the consequences is literally carving out of North Africa and the Middle East, the so-called "Caliphate" Western leaders had held over their impressionable people's heads as the impetus to perpetually wage global war. Torn from the pages of Orwell's 1984, an artificial war has been created to carry forward corporate-financier machinations both abroad and domestically. The so-called threat to Western civilization is in fact a foreign legion of Western corporate-financier interests, executing Wall Street and London's foreign policy on a global scale where and in a manner traditional Western forces cannot.

NATO's terrorist blitzkrieg across the Arab World will not end in Syria. It will continue, if allowed, into Iran, through the Caucasus Mountains and into Russia, across China's western borders, and even across Southeast Asia. The price for ignorance, apathy, and complicity in supporting the West's so-called "War on Terror" will ironically reap all the horrors and then some in reality, that were promised to us if we didn't fight this "Long War."

 

http://landdestroyer.blogspot.co.uk/2012/08/bombshell-us-neo-cons-state-department.html
Despite the fact that organs such as Kavkaz Center operate in the service of terrorists who advocate the destruction of Russia, their activity alone is not altogether significant if seen in a vacuum.  Rather, it is the association of these types of individuals and organizations with the US State Department and US intelligence that makes them particularly insidious.  One such entity that bears scrutiny is the American Committee for Peace in the Caucasus (ACPC) -Brzezinski. Perle. Kristol.  Abrams.  Adelman. Kagan- previously known as the American Committee for Peace in Chechnya

 

the American Committee for Peace in Chechnya!

 

Over 30 years of supporting global terrorism - the Neo-Conservative establishment had created Al Qaeda in the mountains of Afghanistan in the 1980's and has since used them as both provocateurs and a terrorist "foreign legion" everywhere from Serbia, to the Caucasus Mountains, to Iraq, Libya and now Syria . . .
....
The paternalistic role of the US intelligence establishment in the ACPC is made all the more evident when one examines some of the more well known members of the ACPC including former National Security Advisor Zbigniew Brzezinski, former Pentagon advisor Richard Perle and other top neocons such as William Kristol, Elliott Abrams, Kenneth Adelman, and Robert Kagan – the last two being closely associated with the inner circle of the Romney campaign. What becomes apparent in even a cursory analysis of these figures is that, despite the preponderance of neoconservatives, the top members of the ACPC are pulled from both the liberal and conservative establishments.  Therefore, one can see how the ACPC represents a bipartisan consensus within the US imperialist ruling class – a consensus of aggression against Russia.  What should be even more concerning to political observers is that, given the very real possibility of a Romney victory in November, Russia may see a surge in separatism and violence supported overtly or covertly by the ACPC and a future Romney administration.

Thu, 08/30/2012 - 10:59 | 2749504 Ar-Pharazôn
Ar-Pharazôn's picture

read the chat between me and Engali and you will understand what i meant

Thu, 08/30/2012 - 09:39 | 2749239 Dr. Engali
Dr. Engali's picture

No it's not sarcastic I nor anybody I know did not rape, torture, ,or murder any American Indians. So I nor anybody I know are responsible for any actions that happened in the past.

Thu, 08/30/2012 - 09:42 | 2749252 Ar-Pharazôn
Ar-Pharazôn's picture

that was why i said Germany already payed enough

Thu, 08/30/2012 - 09:49 | 2749275 Dr. Engali
Dr. Engali's picture

Completely understandable. No harm no foul.

Thu, 08/30/2012 - 09:43 | 2749257 Ar-Pharazôn
Ar-Pharazôn's picture

i think i made me hard to understand, i m not born english speaker.

 

we agree on the same subject

 

 

Thu, 08/30/2012 - 10:06 | 2749333 Cranios
Cranios's picture

I think he's serious - he hasn't murdered or raped any American Indians. Neither have I.

Are you saying that you have done that? Because most of us haven't.

Thu, 08/30/2012 - 10:11 | 2749352 Ar-Pharazôn
Ar-Pharazôn's picture

hahahahaha

my point is that if you ask Germany to pay for WWII you can easily ask USA to pay for Indians.... nothing more

Thu, 08/30/2012 - 10:32 | 2749412 giovanni_f
giovanni_f's picture

Nothing to pay to the Indians. _They_ have to pay. For being allowed to be privileged members of the insanely! great! freeeeee! aaaaaameerican! democraciieeeee. Yippiee.

Thu, 08/30/2012 - 10:33 | 2749423 Stuck on Zero
Stuck on Zero's picture

Who will pay for the poor immigrants who were slaughtered by the violent indian tribes?

 

Thu, 08/30/2012 - 10:41 | 2749447 Ar-Pharazôn
Ar-Pharazôn's picture

lol

Thu, 08/30/2012 - 10:41 | 2749445 msmith9962
msmith9962's picture

Doent everybody owe everybody else reparations of some sort for war/genocide/oppression?  I dont know but I'm sure some folks here could name some people/nation that has a clean history.  Cant we call it a wash?  Sounds a lot like this.

 

http://www.youtube.com/watch?v=I5QwKEwo4Bc

Thu, 08/30/2012 - 10:43 | 2749450 Ar-Pharazôn
Ar-Pharazôn's picture

exaclty mate,

 

past is past. those kind of argument can only lead to more stress in the already stressed situation

Thu, 08/30/2012 - 10:49 | 2749469 Cranios
Cranios's picture

Yes if that's all you meant, then I agree with you. Otherwise eventually I'd probably be getting reparations from the Italians because some of my ancestors were enslaved by the Romans. lol

Thu, 08/30/2012 - 11:00 | 2749506 Ar-Pharazôn
Ar-Pharazôn's picture

as a swiss my ancestors were slaughtered by romans too....

 

shall i ask Rome for reparations too? /sarc :P

Thu, 08/30/2012 - 11:08 | 2749530 Ghordius
Ghordius's picture

the correct term is pacified. did you guys pay yet for the privilege of this peace that you were granted? ;-)

Fri, 08/31/2012 - 03:03 | 2751679 Ar-Pharazôn
Ar-Pharazôn's picture

hahahahaah yeh....

 

Switzerland should bailout Italy for this fact /sarc :P

Thu, 08/30/2012 - 09:55 | 2749292 eigenvalue
eigenvalue's picture

Did Germany invade Italy during WWII? No, unless you include the German occupation of Northern Italy after the collapse of Nussolini.

Spain? No...

Portugal? No...

Ireland? No...

Greece. Yes...

Therefore, if Germany wants to redeem itself, just pay for the Greek part and say NO to the rest...

Thu, 08/30/2012 - 10:00 | 2749306 Ar-Pharazôn
Ar-Pharazôn's picture

they already payed Greece, and that's not the first time Greece ask for more money in compensation for what happened in WWII

Thu, 08/30/2012 - 10:32 | 2749411 post turtle saver
post turtle saver's picture

Fuck that shit... Manifest Destiny bitchez (that's "Lebensraum" in German, btw)

Thu, 08/30/2012 - 20:09 | 2751111 shovelhead
shovelhead's picture

Casinos =  Red Mans revenge.

Thu, 08/30/2012 - 09:23 | 2749208 Diplodicus Rex
Diplodicus Rex's picture

I don't want to rain on your parade but you should be aware that the people holding the swastikas are not the ones being bailed out. The banks are being bailed out. The people are the bagholders. They are lashing out at whomever seems to be the people who got them into the mess in the first place. They may be right, they may be wrong. Please don't take this as a defence of unbridled profligacy, its not.

Thu, 08/30/2012 - 09:26 | 2749218 Death and Gravity
Death and Gravity's picture

"I don't want to rain on your parade but you should be aware that the people holding the swastikas are not the ones being bailed out."

True, however - this justifies a broad vilification of an entire nation, on basis of the sins of the past, how exactly?

" Please don't take this as a defence of unbridled profligacy, its not."

I don't. I'm also aware that "democracy" is not "the people" in this day and age.

Thu, 08/30/2012 - 10:11 | 2749350 Diplodicus Rex
Diplodicus Rex's picture

"True, however - this justifies a broad vilification of an entire nation, on basis of the sins of the past, how exactly?"

Easy. Ignorance. You are assuming that as a body of people they have sat down, rationalised both the past and the present with full knowledge of the events leading them to the current situation, resulting in the swastika banners. I can't prove it to you, of course, but I can't imagine much thought was expended before deciding to make the banner and march down the street with it. They are lashing out at a collective they perceive to be the source of their trouble, be it right or wrong. They have labelled the collective with a name that they know with which their fellow humans will empathise. It wouldn't work if the banner said "Our dear friends and close neighbours, the people of Germany". You are crediting them with a far higher thought process and rationalisation thereof than they deserve.

 

Be hopeful that at some point the anger is better directed towards the true source of evil, Politicians and Banksters.

Thu, 08/30/2012 - 09:46 | 2749264 paulie
paulie's picture

Part of what you consider irresponsible spending has in fact been purchasing German products.

Sure we can stop that and be more responsible.

Thu, 08/30/2012 - 10:41 | 2749443 giovanni_f
giovanni_f's picture

Moron. Greeks buy German stuff because it is high quality. Private citizens, I mean. As opposed to the corrupt clans forming their "government" who are being bribed into buying third-world level military equipment from the US. With EU bail out money, I mean.


Why did Greece just buy 400 M1A1 Abrams tanks from the US?

Thu, 08/30/2012 - 10:50 | 2749475 Ghordius
Ghordius's picture

no need to call him moron, but yes, I agree. And WFT is Greece going to do with this (alleged?) huge amount of main battle tanks? Do they even have the amount of personnel carriers that go with those beasts? 400 M1A1s is a humungus number. I think someone is pulling your leg. If true, it's a colossal idiocy.

Thu, 08/30/2012 - 11:36 | 2749623 i-dog
i-dog's picture

A quick scan of the net:

a) The story is nearly a year old

b) The tanks were apparently offered by the US (free of charge)

c) The Greek government denied they were "purchasing" any tanks

So the story may well have been true, but it seems subject to interpretations of what the meaning of "is" is....

Thu, 08/30/2012 - 13:00 | 2749911 giovanni_f
giovanni_f's picture

What does the US give for free except for democracy in chile, haiti and syria (to name but a few beneficiaries)?

Thu, 08/30/2012 - 10:51 | 2749482 Ar-Pharazôn
Ar-Pharazôn's picture

germans submarines too

Fri, 08/31/2012 - 03:05 | 2751680 Ar-Pharazôn
Ar-Pharazôn's picture

funny how ppl go for random thumbing down.

 

greece bought germanzzzzz submarinezzzzzzz. that was part of the agreement when they received the first bailout.

 

FACT

Thu, 08/30/2012 - 11:13 | 2749549 chunkylover42
chunkylover42's picture

I agree that the German-bashing has gotten out of hand, but they are not without blame in this mess - they've been a mercantilist state since the advent of the Euro.  The southern countries benefitted from exceptionally low interest rates thanks to Germany's inclusion in the Euro, and they used all that low-cost money to buy lots of German stuff.  Having a common currency across Europe also addressed the problems of a strong DM, which can cause problems for an exporting country.  Once again, importing countries in the south could buy more German stuff.  Not once did Germany step in and say, "hey, guys, keep your fiscal houses in order, you've got a bit of a spending problem over there".

Thu, 08/30/2012 - 11:50 | 2749667 Ghordius
Ghordius's picture

yes and no. all partners are to blame, but:

- Germany exports still go roughly half inside the EZ and half outside. The "cheap" EUR vs old DM is a bogus, IMHO, or this ratio would have changed.

- nobody mentions ever how much of the "allegedly German product" is made out of pieces coming from Slovenia or Portugal, etc.

- financialization hit everybody like a tsunami. people I knew all over Europe that never had a mortgage or a credit card in their life suddently sounded all like British or Americans, using previously unheard words like "leasing". Exception: the Netherlands, they were always more "advanced".

- Germany and others did address the point, which was also in a treaty. Just not forcefully enough, and with the little problem of not following the rules themselves. And a couple of countries hired Squid Tricksters just to make sure the numbers would look even better. And Greece forgot the difference between "a little cheating" and "Grand Fraud".

Nevertheless, the good thing is we can all blame Germany and the EUR and go on. Does them well, beating... ;-)

Thu, 08/30/2012 - 12:56 | 2749893 chunkylover42
chunkylover42's picture

re: exports: I'm not sure it's as simple as you describe.  You've got a 10-12 year period of explosive emerging market growth coinciding almost exactly with the Euro period where southern states had access to cheap financing combined with an artifically cheap currency relative to what they were used to.  There's a lot of levers in motion there.

Everything else you say is true, and I agree - we should throw all the bums out!

Fri, 08/31/2012 - 02:28 | 2751658 Ghordius
Ghordius's picture

+1 nothing is a simple as it can described in a small comment, then in this 10 years period the Germans also completely transformed their labour market, something that is another lever in motion, as you rightly say. the problem, as usual, is "which bums"? or better: "what are the alternatives? really?"

Thu, 08/30/2012 - 12:08 | 2749735 Totentänzerlied
Totentänzerlied's picture

It doesn't deserve bailing out, but Germany will do it anyway. And the German people will not make a peep. That is the Nazi connection, like it or not; a nation of moral cowards all too happy to cooperate. Don't fret though, that hardly makes them unique in Europe or the world.

Thu, 08/30/2012 - 09:12 | 2749181 falak pema
falak pema's picture

Frau Pandora is a universal fairy; that bodes ill to all and sundry, not just to Eurozone. Keep the eye focussed on the bigger problem.

Thu, 08/30/2012 - 09:13 | 2749183 Ar-Pharazôn
Ar-Pharazôn's picture

if people known the truth since the begin, believe me, Mario "Three cards" Monti in this moment would hang from a TREE

 

same thing for counterparts like Merky, Rahoy & Co.

 

dont even want to know what could happen to my dearest friend Benny

Thu, 08/30/2012 - 09:15 | 2749190 eigenvalue
eigenvalue's picture

I think you will soon find a politician in Germany who is opposed to the policies of Ms. Merkel and who will rise to power based upon “Germany for the Germans” ??

Markus Söder?

Thu, 08/30/2012 - 09:20 | 2749202 Abraxas
Abraxas's picture

No need. A new sort of fascism is rapidly gaining control, the one that caresses you with one hand and beats you up with the other one. This kind of fascism is nationless and godless and intends to consume all.

Thu, 08/30/2012 - 13:49 | 2750054 EINSILVERGUY
EINSILVERGUY's picture

Is Obama taking his show on the road?

Thu, 08/30/2012 - 09:22 | 2749204 GetZeeGold
GetZeeGold's picture

 

 

who will rise to power....

 

Oh good.....take your time and plan it a little better this time.

 

Thu, 08/30/2012 - 09:15 | 2749192 agent default
agent default's picture

You have to take one important factor into account when talking about Europe.  The people in Europe have been exposed to socialist BS lecturing much longer than in the US.  Statism and entitlement, is not just tolerated in Europe it is actually demanded by the public opinion more often then not.  So don't expect anything to go suddenly wrong, the governments there have a lot more freedom to loot than the US government has and have a lot more freedom to enact arbitrary and authoritarian measures "in the name of the people" than in the US.  The US will clean up its mess long before Europe decides to get out of this mess.

Thu, 08/30/2012 - 10:01 | 2749312 Ar-Pharazôn
Ar-Pharazôn's picture

i can only say: Thanks God you made me born in Switzerland :D

Thu, 08/30/2012 - 10:19 | 2749369 agent default
agent default's picture

Good. A few stern words for you.

You are under attack. 

The banking secrecy thing is the tip of the iceberg on the assault against Swiss sovereignty.  I recall a certain EU talking head expressing his disagreement with the Swiss attitude towards holding a referendum on every issue and the EU Commission insisting that you incorporate EU legislation automatically into national law.

And take a look at the EUR/CHF peg.  Fifth column in action right there.

 

Thu, 08/30/2012 - 10:33 | 2749424 Ar-Pharazôn
Ar-Pharazôn's picture

we know we are under attack from the banking cartel.

 

i can just that most of the country in the western world have their own fiscal heaven, so.... when a burglar tell another burglar to stop stealing it's quite an hipocrisy or no?

 

to give you an idea, we are here since 700+ years, since when we didnt have any banks. and we are still here.

Thu, 08/30/2012 - 10:34 | 2749426 Ar-Pharazôn
Ar-Pharazôn's picture

jesus sorry i am not able to write today....

 

fix: "i can just say"

Thu, 08/30/2012 - 09:16 | 2749194 oogs66
oogs66's picture

On the bright side, he has been wrong for so long he finally ditched the quotes and made it readable

Thu, 08/30/2012 - 09:22 | 2749206 aleph0
aleph0's picture

"Unemployment increased in Germany,...., to 2.9mm people "

LOL ... all the "1 Euro" and "4 Euro jobs" that the Socialists created are not included. Add on more than a few million .

BTW, that the German Economy is strong is another myth.
Most of the "strong DAX" members are multinationals.

Check out the Handelsblatt Article "Made Outside Germany" :
http://www.handelsblatt.com/unternehmen/industrie/auslandsinvestitionen-...

VW for example produces cars on 4 other Continents : Africa, Asia, North America, South America as well as in Europe .

http://www.volkswagenag.com/content/vwcorp/content/de/the_group/producti...

Thu, 08/30/2012 - 09:34 | 2749230 sessinpo
sessinpo's picture

"BTW, that the German Economy is strong is another myth.
Most of the "strong DAX" members are multinationals.

Check out the Handelsblatt Article "Made Outside Germany" :
http://www.handelsblatt.com/unternehmen/industrie/auslandsinvestitionen-...

VW for example produces cars on 4 other Continents : Africa, Asia, North America, South America as well as in Europe .

 

And have you considered that this is the case for most if not all developed nations? Thus it is a zero sum game and irrelevant. If one would want to make such an argument, then one would need to dig further into the actual numbers such as the specific import/export numbers of those multination corporations and make a comparative analysis.

 

Thu, 08/30/2012 - 10:00 | 2749308 ParkAveFlasher
ParkAveFlasher's picture

That's a great point.  Globalism is a direct response to nationalism and is three generations in the making.  An owner of a multinational can effectively hedge against political destabilization in any unfavorable region by directing his flows - materials, services, capital, funds, debt, anything that flows - through a more favorable region.  Profit-taking can be located wherever taxes and local regulation allow greatest advantage.

The problem (if it is a "problem") is that such a strategy makes all analysis of import/export numbers like measuring how many teaspoons of rainwater are bouncing off a moving train.  Any large corporation is so highly integrated on a multi-national level that funds can move on and off the local tax tables before any local govt. can react. Thus an "export" can technically be an "export" but if you are manufacturing in one country to a technically seperate warehousing corporation in another, never booking a real sale to a real consumer, what good is that in measuring as a unit exported?  If you sell that unit to a distributor in one country at loss, who then re-sells to another seller who imports it back into the original country of manufacture (believe me, it happens, ironic), for final sell-through to a consumer, how does that measure?

All statistics and values and analyses are distorted in fiat system (because "price" and "cost" are inherently arbitrary and capricious) and all flows of energy and material become deceptively diverted redirections around cumbersome and obstructive regulatory structures.  Think of a regulation as a boulder cast into a river to divert the river's flow.  If the boulder is not perfectly designed and perfectly cast, the water finds it way around in unpredictable ways.  Hell, the water system on Earth is so complex and ancient and oscillates on such grand scales that even our best dams ultimately divert flows in ways we can not possibly yet comprehend. 

Sorry for the length, I never read these kinds of comments.

 

Thu, 08/30/2012 - 10:18 | 2749363 aleph0
aleph0's picture

Of course, that was my (implicit) point.

Germany , according to MSM , is supposed to be "strong enough" to bail out Europe - of course it isn't ... but suits the Agenda of the Globalists ... in  their Coup d'Etat .

Thu, 08/30/2012 - 17:19 | 2750713 sessinpo
sessinpo's picture

To save time, this response will be to ParkAveFlaher and aleph0 i.

 

Great post. No problem with the length. The original post to Aleph0 was to further emphasize "his" point of which I agreed and to pose a question for additional readers as to why Aleph0 made a good point - in other words I tried to put in layman's terms and I also exposed why such analysis is often faulty.

Thu, 08/30/2012 - 09:24 | 2749211 Yardfarmer
Yardfarmer's picture

Deutsche Kinder Braucht Das Land!http://youtu.be/vkGOpCAWB_o

Thu, 08/30/2012 - 09:29 | 2749223 GetZeeGold
GetZeeGold's picture

 

 

They're baaaaaaack!

 

Forward........into the future.

Thu, 08/30/2012 - 09:26 | 2749216 Dr. Engali
Dr. Engali's picture

Germany needs to tell these leaches to go screw themselves if they can't get their finacial house in order. The very thought that they should have to fund their recklessness is ridiculous.

Thu, 08/30/2012 - 09:48 | 2749272 paulie
paulie's picture

Those leaches are among Germany's best customers and German banks is full of their shitty treasuries.

Those leaches have in fact got Germany by the balls.

Thu, 08/30/2012 - 09:59 | 2749294 Dr. Engali
Dr. Engali's picture

Germany can't afford to fund their "customers" ability to purchase German products and fund the leaches bad behavior at the same time. If the leaches over play their hands the Germans will retaliate by going back to the Deutschmark. The Germans have the advantadge that they actually make a product that people want. What the hell does Italy, Greece,Spain, or any other European country have to offer besides tourism?

Thu, 08/30/2012 - 10:02 | 2749319 Ar-Pharazôn
Ar-Pharazôn's picture

Germany already printed new Deutsche Marks in Switzerland, close to where i live.

 

and that was in 2011.................................

Thu, 08/30/2012 - 13:50 | 2750057 dugorama
dugorama's picture

Ag products (I consume Spanish and Italian wines, S,I,G olives, cheeses, peppers, etc etc).  Italy: cars, machine tools, fabrics, fashion.  All three: futbol teams!  

Actually, Italy has a nice exporting economy.  They're screwed for banksta reasons.  Spain's prob is a real estate bubble brought on by northern europeans.  Only Greece is totally a shill economy.

Thu, 08/30/2012 - 09:26 | 2749217 dbTX
dbTX's picture

History about to repeat it's self.

Thu, 08/30/2012 - 09:27 | 2749220 sessinpo
sessinpo's picture

Lines in bold are from article.

"Sometimes when I hear various people speak about the ECB I am amazed by their viewpoint."

I concurr. I am amazed at Grant't viewpoint. Expanation below.

 

"The central bank is owned by the central banks of the nations in Europe and they are accountable for her profits or losses with Germany being accountable for about 22% of the balance sheet."

Sound familar, a central bank owned by the largest banks in a given area (I.E. FRB)

 

"the poorer nations are demanding that the ECB buy their debt and lower their cost of funding so that the ECB becomes the vehicle for a transfer of wealth from Germany to the rest of Europe."

Now imagine you are in debt to the mob. You have having problems so you ask (demand) that the mob loan you more money with the promise that this is just temporary and you'll pay them back. And so the mob gives you an extension or another loan. Can you see where this is going?

While it is Germany that is being "used" as the front, it is really the central planners through the ECB, IMF, and World Bank that are the real culprits (owned by the central banks of various countries like our FRB is owned by various financial institutions.)

 

"Make no mistake; Germany is now in the corner, will have to make some very difficult decisions and she is trapped beneath the banner which she has long waved. The German economy is only $3.55 trillion and she is being asked, in fact demanded, to turn over her capital to support the rest of Europe which will cause a serious decline in her own finances if she undertakes the task."  

Germany is just the front being used as an economic hitman to gain further control of other European nations for the ECB, IMF, and World bank, controlled by the various central bankers. No person or institution in the right mind would continue to lend to bad creditors unless they have the intention of gaining control over those various assets.

 

Thu, 08/30/2012 - 09:28 | 2749222 Emperor
Emperor's picture

Let us not forget that Germany has a number of problems like an ageing population with the median age 44.9 (2011), making it the country with the oldest population in the world,China is an increasing threat to German manufacturing industries and now this drop of export to southern European countries like Greece,Portugal,Spain and Italy. 

http://chartsbin.com/view/2866

Thu, 08/30/2012 - 09:38 | 2749240 sessinpo
sessinpo's picture

The demographic problem you described is a worldwide problem. Many, but not all, had what we call a baby boomer generation after WWII.

Thu, 08/30/2012 - 09:48 | 2749274 Emperor
Emperor's picture

Right now nowhere is as bad as in Germany and Japan and more elderly people means stagnating economy.

Thu, 08/30/2012 - 13:52 | 2750063 dugorama
dugorama's picture

Actually both Germany and Japan have less of a demographic "problem" than either Italy or Spain.  Although, those are all some VERY crowded countries.  In the long long run, some depopulation will do the planet and climate very well.  And this is a less violent way to do it than, say, the 100 years war was.

Thu, 08/30/2012 - 09:28 | 2749225 monopoly
monopoly's picture

Excellent article. Shows us clearly that Europe is at the edge of a cliff just like we are. And how long are the German people going to put up with funding the demise of other countries? Are they going to end up just like the other broken countries or will they stand tall and say enough is enough. I think we will know the answer by Sept. 12th.

And I do not care who is our next president, nothing will change. It is too late. Until the funding crisis hits us, and it will, just carry on. Words do not heal or change a nation. And no one will take the needed actions to heal this country. Bad politics leads to a nation in decline. America.

Thu, 08/30/2012 - 10:42 | 2749442 Bobportlandor
Bobportlandor's picture

A huge segment of the worlds population thought they could live life off the confiscations of others toll.

One socialist program after after another piled one on top of another ends this way.

http://www.youtube.com/watch?v=a5R_pS0h5Qk

 

This movie dedicated to the politicians worldwide.

Thu, 08/30/2012 - 09:34 | 2749231 hannah
hannah's picture

...Since the European Union the people has gained Rights. The people governs!' Strange! The people has now been ruling three years and no one has in practice once asked its opinion. Treaties were signed which will hold us down for centuries: and who has signed the treaties? The people? No! The Central Banks which one fine day presented themselves as Governments. And at their election the people had nothing to do save to consider the question: there they are already, whether I elect them or not. If we elect them, then they are there through our election. But since we are a self-governing people, we must elect the folk in order that they may be elected to govern us.

 

...word to the wise.

Thu, 08/30/2012 - 09:49 | 2749278 paulie
paulie's picture

You're a piece of work my friend.

Thu, 08/30/2012 - 10:12 | 2749351 hannah
hannah's picture

Geschichte nicht, aber es ist sicherlich Reime wiederholen...my brother

Thu, 08/30/2012 - 09:39 | 2749243 TicoTiger
TicoTiger's picture

Repeat after me: Iceland, Iceland.

WARNING: Rock And A Hard Place Right Ahead!

Thu, 08/30/2012 - 09:40 | 2749245 American Dissident
American Dissident's picture

Nothing is as it seems and in Amerika it has not been for a very long time... The easy answers should never be confused with the truth as the former are seemingly timeless extensions of War Time propaganda.  Who benefits?

Thu, 08/30/2012 - 12:00 | 2749707 monad
monad's picture

As always MIC

Thu, 08/30/2012 - 09:43 | 2749253 lolmao500
lolmao500's picture

Obama's America for Obamabots! Obama and all his supporters can create their own country if they want. Illinois, NY and California. Name Obama King forever and leave the rest of the world the fuck alone.

Thu, 08/30/2012 - 09:42 | 2749254 apberusdisvet
apberusdisvet's picture

 

$2000/night Euro hooker:  I don't take paper anymore

client:   What will you take?

hooker:  one ounce Swiss bars

client:  that's a bargain

hooker:  won't be in a month

Thu, 08/30/2012 - 12:01 | 2749712 monad
monad's picture

Your hooker is better than your broker. What do you pay him to do?

Thu, 08/30/2012 - 20:30 | 2751160 shovelhead
shovelhead's picture

To figurativly do what the hooker literally does.

Same business model.

Thu, 08/30/2012 - 09:52 | 2749285 The Reich
The Reich's picture

Euro will destroy the European Union and their political caste. Pandora time is under way! Mark my words.

Thu, 08/30/2012 - 09:52 | 2749286 paint it red ca...
paint it red call it hell's picture

Germany is not in the box, the powers that be behind  EU-at-all-costs are in the box. The German people are about to become victims of despots hell bent on debt enslavement and cartel domination. The only question to answer is how ruthless they must become to stuff it up the collective German rectum with the population aware of what is happening as it is happening?

Thu, 08/30/2012 - 10:06 | 2749335 covert
covert's picture

germany has been defeated for over a decade but, hasn't been made official yet.

http://expose2.wordpress.com/2011/11/20/a-voice-from-the-dark/

Thu, 08/30/2012 - 09:58 | 2749299 pazmaker
pazmaker's picture

..and the EUR/USD staying above 1.25  Charmin vs Scotts

Thu, 08/30/2012 - 10:02 | 2749316 NationalRazor
NationalRazor's picture

Actually Germany got away with millionfold murder torture and rape pretty lightly in WW2.However if were talking about socialism please remember that although socialism looks like it is the creed of only the politicians it really resides in the public sector workforce whether national or local government.It sits like a cancer within a country eroding personal responsibility and accountability especially within the govt workfarce.This type of rot has been taking place in some countries like the UK since the 1920s.This is why the public sector of most countries is rigid with spineless political correctness,why criminals are treated better than victims and why the population has been dumbed down to create a culture of dependence and inertia.

Thu, 08/30/2012 - 10:05 | 2749329 Ar-Pharazôn
Ar-Pharazôn's picture

i would say that paying back bilions in USD and having your country divided for like 45 years is not that light..........

Thu, 08/30/2012 - 12:11 | 2749745 viahj
viahj's picture

good post EXCEPT for that fist sentence.  read up a little more of postwar Germany and the brutal occupation by Russia.  millions of Germans died AFTER the war due to hunger, sickness, etc...

Thu, 08/30/2012 - 10:09 | 2749342 Vince Clortho
Vince Clortho's picture

Merkel's dilemma:  How to stay in power as long as possible.  It's a great job to hold on to.  If only she weren't caught in the vice between the Central (give us all your money and printing presses) bankers, and the German (Don't sell us out) people.

Thu, 08/30/2012 - 10:19 | 2749373 walter5
walter5's picture

Why is the rating on this article so low? I think this is one of the best reads this year! I agree that this is an early call but nevertheless, somebody has to be first with a call and very often, it is Tyler. Germans are buying houses, apartments and land like crazy and the prices are accelerating to the upside. This is happening in the midst of the EZ crisis, why? Answer: Germans are beginning to smell the stench and are preparing themselves for money-printing by the ECB. The German people have lost everything they own serveral times before in the past 100 years and I do not believe that they will allow this to happen again. Why should the Germans allow themselves to be dragged down into this bottomless pit which is Europe? They should jump ship now before it is to late. Remember; the EMU is not the USA, and Germans are not Greeks, Spaniards or Italians. The German people´s solidarity has it limits and the limit is approaching rapidly.

Thu, 08/30/2012 - 10:39 | 2749440 supermaxedout
supermaxedout's picture

They are smelling the stench already since long. The stench arised long time ago in the US,  Wall Street traveled over the Atlantic, getting heavily enriched while passing the City of London before it hit Continental Europe.

Thu, 08/30/2012 - 12:13 | 2749754 viahj
viahj's picture

the "stench" originated in London.

Thu, 08/30/2012 - 11:56 | 2749689 Fields and meadows.
Fields and meadows.'s picture

'The German people have lost everything they own serveral times before in the past 100 years and I do not believe that they will allow this to happen again.'

Yeah, sort of.

The historical facts are that the Germans have actually lost everything EVERYONE ELSE owned several times in the past. Not irrelevant. 

'Why should the Germans allow themselves to be dragged down into this bottomless pit which is Europe?'

Er...Germany IS IN Europe you know.

It helped 'build' the current political/economic dispensation. Germany cannot pretend to be surprised by the consequences of policies they GERMANY & FRANCE ALONE created can they?

The German elites agreed to the Euro as the price for reunification and the removal of all those pesky massive armies barracked on their soil. This is not disputed. This is why the German people were not consulted. Tough but true.

Unless Germany builds a wall around it's borders, then 'Europe' will not go away. Unless time stops; the demographic time bomb will explode in 20 years.

Complaining will change nothing.

You wanted a united Europe?

Well prepare for the necessary poverty.

 

Thu, 08/30/2012 - 12:27 | 2749795 Element
Element's picture

 

 

Walter5 - Why is the rating on this article so low? I think this is one of the best reads this year! I agree that this is an early call but nevertheless, somebody has to be first with a call and very often, it is Tyler.

I agree with that, but it's not Tyler who wrote it:

 

Via Mark J. Grant, author of Out of the Box,

Thu, 08/30/2012 - 10:35 | 2749430 L927
L927's picture

so what's the fuss? just keep the short leg of that thing on, bit more loud music and let's go ahead with the fun.

 

Thu, 08/30/2012 - 10:35 | 2749432 supermaxedout
supermaxedout's picture

Dont worry about the Germans and Germany. They have made their way through history and managed to survive lots of catastrophies.  They are survivors and have received lots of fresh blood input past WWII. These newcomers enriched the society and created a multicultural and open society. German work ethics have been succesfully transplanted to the newcomers while the Germans became a bit more relaxed as compared to the centuries before. Germany enjoys the best time ever.  It might soon start to new highs in the technological development, stunning the world and producing facts which have the potential to make the wars for oil and energy obsolete.  Dem Ingenieur ist nix zu schwer! (nothing is to challenging for a real engineer).

http://www.sunfire.de/en/kreislauf/power-to-liquids

 

Thu, 08/30/2012 - 11:36 | 2749626 Fields and meadows.
Fields and meadows.'s picture

I hope you forgive me but it would seem that...

 'Nothing is impossible for the German sol...er...blogger'.

Your analysis of the current German situation ignores demographic reality, for one.

Germany is ageing too rapidly for ANY positive medium term prognosis.

As a further example; German car manufacturers made more cars abroad for the 1st time recently (2-3 yrs ago?).

This despite the fact German output always rests upon exports. These have been maintained ONLY  because of the temporary and distorted effect of the euro (inporting productivity at the expense of the PIGs).

'Not worrying about Germany' is all very well. What about the rapidly rotting corpses all aroung Germany?

How can Germany not be affected by local continental reality?

What happens when France faces reality?

The mythical German character you refer to will not obviate the above facts I'm afraid.

Regards.

 

 

 

Thu, 08/30/2012 - 11:47 | 2749658 Sandmann
Sandmann's picture

Yeah the Arabs in Berlin have really enriched matters mugging 53 year old Rabbi in Berlin and threatening to muder his 6-year old daughter. Of course the Russian-FGermans have a youth willing to fill up the empty cells in German prisons when the Serbs in Germany can't find enough volunteers. Germany is another Bankrupt Welfare State living by Expropriation of the Working Population to sustain a Leisured Class on Benefit

Thu, 08/30/2012 - 12:46 | 2749869 supermaxedout
supermaxedout's picture

Berlin is a big city. In the 19th century it was for appx 10 years the most populated city in the world. Now its much smaller in comparison but its a big city.  Parts of its population especially male young muslims hate to see a traditional dressed rabbi. Therefore it should not surprise that such things happen from time to time.  Thats the way it is when stupid  people are agitated and manipulated.

The Germans usually blend very quickly into their new home. So its very difficult to distinguish from the looks if someone is a German or a Dutch or a Czech or North Italian etc. .

But there is always a way where is a will.

" In the early 19th century, Dachshunds came to the United States with German immigrants.  There were imports brought from England as well.  The breed became very popular in the U.S.  The American Kennel Club began to register Dachshunds in 1885.  The Dachshund Club of America was organized in 1895.
     World War I had a terrible impact on the Dachshund breed, especially in Great Britain and in the United States.  People turned their hatred of anything German on this breed of dog and the result was the Dachshund numbers dwindled significantly.  After the war was over, U.S. breeders were able to slowly rebuild the breed again.  The Second World War did not have as significant impact as W.W.I."

Actually during WWI and years after these innocent creatures small Dachshunds were often beaten to death when walking the streets with their masters. And for sure not only the doggies were beaten up. When walking without their dogs nothing happened to these people which were most probably German descendents. But walking the streets showing  a hatred German symbol, the Dachshund was like showing the German flag thus provoking  massive reactions.

The Jewish state Israel is since many years in war with the Arabs and the Palestine people, so what can a traditional dressed rabbi expect when he meets the wrong people hating Jews. Be it in Berlin, Paris, London or anywhere else in this wolrd.

Thu, 08/30/2012 - 12:10 | 2749740 falak pema
falak pema's picture

electrolytic steam reforming of CO2?  

lol, novel indeed. I wonder what the thermodynamics of this Himalaya climb is?

What EROEI this requires?

Even with renewable electrical production there is a KW cost/btu produced associated !

 

Thu, 08/30/2012 - 12:51 | 2749881 supermaxedout
supermaxedout's picture

Right, but the first car did also not look like a Ferrari.

Thu, 08/30/2012 - 10:57 | 2749500 steve from virginia
steve from virginia's picture

 

All those crazy Euros ... trying to fix the unfixable.

 

Just like those crazy Chinese, Amrericans, Japanese, etc.

 

Modernity cannot be 'reformed' to solve its problems, modernity IS the problem. There is nothing to be done to fix modernity, only abandon the sinking ship.

 

Or else.

Thu, 08/30/2012 - 12:30 | 2749805 Element
Element's picture

hmm ... going a bit unaoboma there Steve?

Thu, 08/30/2012 - 11:25 | 2749593 Fields and meadows.
Fields and meadows.'s picture

Re this article; yes to everything, however.....

The Euro is a political entity.

It was never the product of econimic (or math) logic.

Therefore, all the quotes from the european 'elites' that describe the necessity for a 'crisis' to allow them to finally create true 'unity' become crucial.

They know the curent situation is unsustainable.

They know the euro is an economic destruction machine in it's present form.

They know the euro is a democratic destruction machine in it's present form.

That's the whole point of the euro in it's present form.

Therefore, I would be interested in the author's view in light of these facts. An economic war is being waged to create European 'unity'. (The previous military wars failed.)

That is the true state of play.

What true price true European unity?

That is the real question.

 

 

Thu, 08/30/2012 - 11:44 | 2749650 Sandmann
Sandmann's picture

Frau Pandora

 

Are you a joker ?  PANDORA was FEMALE   see Hesiod: 

From her is the race of women and female kind:
of her is the deadly race and tribe of women who
live amongst mortal men to their great trouble,
no helpmates in hateful poverty, but only in wealth.

Thu, 08/30/2012 - 20:48 | 2751184 shovelhead
shovelhead's picture

Frau.

See dictionary.

Don't need Hesiod. He's long dead.

Thu, 08/30/2012 - 20:48 | 2751185 shovelhead
shovelhead's picture

Frau.

See dictionary.

Don't need Hesiod. He's long dead.

Fri, 08/31/2012 - 04:12 | 2751723 Heyoka Bianco
Heyoka Bianco's picture

Germany today is China with stronger unions and no natural resources. As demand for Benzos craters in Shanghai, ze Gemermans are going to take a big bite out of the shit sandwich too. They certainly never complained when all that "irresponsible spending" was flowing back to them in export income, did they?

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