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Greece Responds To Troika Deal With Immediate Two Day Strike, Threatens With "Social Uprising"

Tyler Durden's picture




 

Even as the ECB's very own Mario Draghi is now peddling Greek deal rumors, which are essentially a reaffirmation that the country will "pledge" to return to GDP growth in 2013, we are already seeing real, not pledged, or promised, consequences of this deal, whether real or not (ignoring that Venizelos just said that it would actually take up to 15 days to finalize it, something which means the Greek exchange offer is DOA) namely that the crippling economic collapse discussed extensively on these pages is about to get far worse. AP reports: "Angry union leaders announced a 48-hour general strike for Friday and Saturday." “We are moving to a social uprising," said ADEDY Secretary Genera Iliopoulos." Surely this is the fastest shortcut for Greece to meet or beat expectations of halting the 10% drop in its GDP and convert that number to positive. One can only hope that makers of bulletproof vests can compensate the economic collapse as every other part of the economy shuts down.

From PressTV:

The unions, General confederation of Workers of Greece (GSEE) and Civil Servants Supreme Administrative Council (ADEDY), announced on Thursday that their members will go on a two-day strike from Friday in protest at the controversial decision.

 

"We will hold a general strike on Friday and Saturday along with the civil servants' union," said a spokeswoman with GSEE which represents the private sector.

 

ADEDY's Secretary General Ilias Iliopoulos described the measures as “painful” which will “create misery for youths, unemployed and pensioners do not leave us much room.”

 

“We are moving to a social uprising," said Iliopoulos.

 

Greece has been the scene of repeated strikes since the country first resorted to bailouts from international lenders in 2010.

 

Leaders of the three parties backing Greece's coalition government approved new austerity measures on Wednesday but failed to agree to creditors' demands to make 300 million euros ($398 million) in pension cuts.

 

The country’s Prime Minister Lucas Papademos still hopes that the coalition leaders will strike a comprehensive deal by Thursday evening, his office said on Wednesday.

 

To secure a bailout package of 130 billion euros, Athens must first persuade the troika -- the European Union (EU), International Monetary Fund (IMF), and the European Central Bank (ECB) -- that it will implement long-delayed reforms and make further spending cuts.

 

Greece's current debt stands at 340 billion euros ($440 billion) -- a sum that equals around 31,000 euros debt per person in the country of 11 million people.

 

The country has, accordingly, the biggest debt burden in proportion to the size of its economy in the entire 17-nation eurozone.

 

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Thu, 02/09/2012 - 09:59 | 2141280 VisualCSharp
VisualCSharp's picture

And so it continues...

Thu, 02/09/2012 - 10:01 | 2141288 GetZeeGold
GetZeeGold's picture

 

 

This time it's the newly repackaged "Social Uprising"

 

 

 

Thu, 02/09/2012 - 10:05 | 2141319 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Social Uprising

Is that their version of facebook?

Thu, 02/09/2012 - 10:21 | 2141373 Badabing
Badabing's picture

Deadline is March 20th

Beware the ides of March

Thu, 02/09/2012 - 10:38 | 2141428 Spastica Rex
Spastica Rex's picture

What happens on the 15th?

Thu, 02/09/2012 - 10:44 | 2141452 Badabing
Badabing's picture

That gives them five business days for the bailout check to clear!

Thu, 02/09/2012 - 10:46 | 2141461 Dr. Engali
Dr. Engali's picture

The sun comes up.

Thu, 02/09/2012 - 10:58 | 2141511 battle axe
battle axe's picture

The army is called out, then they realize that their pay checks bounced also and join the demonstrators in the streets of Athens. Viva la Revolution!

Thu, 02/09/2012 - 13:20 | 2142394 smiler03
smiler03's picture

Greek police stage protest march:

http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_09/02/2012_426946

This could be a very important step towards revolution. Maybe the police won't stop rioters burning parliament down?

Thu, 02/09/2012 - 11:03 | 2141533 ElvisDog
ElvisDog's picture

Haven't we learned that deadlines don't mean squat when it comes to Euro-land. The 15th and 20th will come and go, and then they'll come up with some new plan to tell us everything has been fixed once and for all.

Thu, 02/09/2012 - 11:04 | 2141534 Sudden Debt
Sudden Debt's picture

Just check your facebook timeline!

Thu, 02/09/2012 - 11:17 | 2141630 Abitdodgie
Abitdodgie's picture

We invade Iran on the 8/9 of March so that should get things going.

Thu, 02/09/2012 - 11:00 | 2141522 dracos_ghost
dracos_ghost's picture

This just in:

 

"Greeks cancel 2 day strike because it felt too much like work and was exhausting. Ask the EU for credit for the 2 days and 3 more holidays to decompress."

Thu, 02/09/2012 - 11:22 | 2141666 Taterboy
Taterboy's picture

Will there be an IPO?

Thu, 02/09/2012 - 10:02 | 2141295 Temporalist
Thu, 02/09/2012 - 10:02 | 2141299 American34
American34's picture

I wonder what is really going to happen when this type of "Austerity/Only Spending what you make" is forced to occur here in the U.S.?

Thu, 02/09/2012 - 10:04 | 2141304 Ancona
Ancona's picture

Has anyone seen Riot Dog? We're going to need him......

Thu, 02/09/2012 - 10:05 | 2141321 John Law Lives
John Law Lives's picture

With Congress content to spend and the Great Chairsatan content to print, who knows how far away that day may be.

Thu, 02/09/2012 - 11:37 | 2141773 ElvisDog
ElvisDog's picture

To paraphrase Keynes: they can kick the can down the road longer than you can stay sane.

Thu, 02/09/2012 - 10:19 | 2141364 Citxmech
Citxmech's picture

what's our debt per citizen again?

[Answer per debt clock: $48,943.00]

Thu, 02/09/2012 - 10:39 | 2141431 Vincent Vega
Vincent Vega's picture

Look again...PERSONAL debt ie mortgage, revolving and non revolving is about 50k. TOTAL debt is 180k.

Thu, 02/09/2012 - 10:59 | 2141517 X. Kurt OSis
X. Kurt OSis's picture

That's just personal debt.  Bottom right.

Including unfunded liabilities, we are over $1 million per tax payer!  U S A, U S A, U S A!!!!!!!

Thu, 02/09/2012 - 10:30 | 2141400 Id fight Gandhi
Id fight Gandhi's picture

Add more bread and circuses

Thu, 02/09/2012 - 11:52 | 2141854 SaulGood
Thu, 02/09/2012 - 10:32 | 2141408 dbTX
dbTX's picture

It won't be funny !

Thu, 02/09/2012 - 10:35 | 2141421 MachoMan
MachoMan's picture

It hasn't been forced on the greeks yet...  this is only lip service.

So, to answer your question, when austerity is discussed (it's still a negotiation), I think the united states citizenry will respond similarly, albeit with fewer molotov cocktails (and thus less police shooting protesters).

In the end, greece understands it has the entire developed world by the balls.  In the end, looking the citizenry in the face and saying, "you have been living a lie for decades that was based upon material misrepresentations by us and our predecessors and, as a result, you must now cut your standard of living by three quarters and hope to develop a replacement to oil with frozen credit markets" is simply not going to happen...  the only thing to do is what has been done before...  keep it going as long as possible until the currency is destroyed and then pretend like it was caused by some external, natural force that no one could have foreseen...  and, to aid this process, ensure that the educational infrastructure never teaches the populace the real cause.

The greeks are about as sincere to the thoughts of austerity as a puppy dog is to giving up a bone (or, alternatively, stolen underwear).

Thu, 02/09/2012 - 11:08 | 2141513 Mr Kurtz
Mr Kurtz's picture

Today at CNBC:

" Greek political leaders have clinched a deal on austerity measures needed to secure a bailout to keep the country afloat, two government sources said on Thursday."

Translation: Shitty time to be a serf.

Guillotines, anyone?

Thu, 02/09/2012 - 10:43 | 2141450 SheepDog-One
SheepDog-One's picture

'Only spending what you make'?

Egads! You mean actually LIVING within your MEANS? Utter insanity!!

Thu, 02/09/2012 - 11:29 | 2141715 RSloane
RSloane's picture

There has been very very limited, if any, implementation of any of the Greek austerity measures. The newest round will join the others in the 'we'll get around to it' pile.

The US has printing presses and a gold card from China.

Thu, 02/09/2012 - 10:10 | 2141340 Oztralian
Oztralian's picture

ZH boom, doom, and gloom continues

Thu, 02/09/2012 - 10:42 | 2141446 _ConanTheLibert...
_ConanTheLibertarian_'s picture

With good reason...

Thu, 02/09/2012 - 10:56 | 2141506 Vince Clortho
Vince Clortho's picture

Buy a Clue.

Thu, 02/09/2012 - 10:28 | 2141394 Zero Debt
Zero Debt's picture

Legalize the constitution!

Thu, 02/09/2012 - 10:31 | 2141404 Dr. Engali
Dr. Engali's picture

You know you can be labeled as a terrorist for believing such radical thoughts.   See something say something bitches!

Thu, 02/09/2012 - 10:56 | 2141503 Mesquite
Mesquite's picture

Wow..What a GREAT Slogan...

Thanks...

Thu, 02/09/2012 - 10:13 | 2141352 fightthepower
fightthepower's picture

Worthless cowardly Greeks.  Unless they bring a gun to this "Social Uprising", it won't do any good. 

Thu, 02/09/2012 - 10:28 | 2141391 bigdumbnugly
bigdumbnugly's picture

but achilles and ajax won't be walking through the door anytime soon.

maybe some modern day poet can conjure up another greek with gonads.

Thu, 02/09/2012 - 10:15 | 2141357 ilion
ilion's picture

This raises a question, is there anything in the world these days actually under control? Or is it just all going to blow up any day now?

Thu, 02/09/2012 - 10:47 | 2141426 MachoMan
MachoMan's picture

defer to poster below me stating the illusory nature of control

Thu, 02/09/2012 - 10:45 | 2141457 Alpha Monkey
Alpha Monkey's picture

Control is an illusion.  Always has been, always will be. 

Thu, 02/09/2012 - 11:06 | 2141561 Temporalist
Temporalist's picture

That is my favorite thing to hear from the pilot when I'm at 30k ft...or on a cruise ship.

Thu, 02/09/2012 - 10:53 | 2141482 SMG
SMG's picture

i guess the best analogy is the Oligarchy (Illuminati) is controlling the plane and flying it into the side of the mountain.   They will jump out of the plane with parachutes just before it hits.  The passengers ("useless eaters")  get to experience controlled flight into terrain.

Thu, 02/09/2012 - 10:54 | 2141497 battle axe
battle axe's picture

Wasn't there a "social upraising" a few months ago? Same shit, different day.

Thu, 02/09/2012 - 10:00 | 2141283 agent default
agent default's picture

I want to see half of what has been enforced in Greece against the population enforced in the US.  Lets see how quiet things will be here after that.

Thu, 02/09/2012 - 10:04 | 2141308 GetZeeGold
GetZeeGold's picture

 

 

Just get rid of the marxists......it will get quiet pretty quick.

 

It's either that or kill 30 million people........again.

 

 

 

Thu, 02/09/2012 - 10:24 | 2141377 GetZeeGold
GetZeeGold's picture

 

 

It appears we have some genocide fans out there.

 

I'm not saying it's not a way to go.....ok you got me.......I'm not really up with it.

 

 

Thu, 02/09/2012 - 10:45 | 2141459 Spastica Rex
Spastica Rex's picture

Good thing we've got you to set it straight.

Thu, 02/09/2012 - 10:15 | 2141359 Gordon Freeman
Gordon Freeman's picture

"Social Uprising"??? What does that mean?  A refusal to pay taxes?  Oh, wait--they already don't do that...

Lazy, worthless fucks

Thu, 02/09/2012 - 10:26 | 2141383 dwdollar
dwdollar's picture

How dare they not pay their taxes to the bankers!!! Half-Brain.

Thu, 02/09/2012 - 10:30 | 2141402 Gordon Freeman
Gordon Freeman's picture

Fuck you

Thu, 02/09/2012 - 10:33 | 2141415 GetZeeGold
GetZeeGold's picture

 

 

You must be an intellectual.

 

 

Thu, 02/09/2012 - 10:29 | 2141398 Fremen Sharpshooter
Fremen Sharpshooter's picture

Seriously! Tax the hell out of them all!  They have to pay for huge bureaucratic centralized nanny state somehow...

nevermind the bondholders!

/sarc

Who in their right mind wants to pay taxes to a banker-controlled protectorate?

Thu, 02/09/2012 - 10:39 | 2141432 fightthepower
fightthepower's picture

No only should they not be paying taxes to their shitty government, they should be shooting bankers and dragging their politicians into the street and hanging therm. 

Thu, 02/09/2012 - 10:48 | 2141470 Spastica Rex
Spastica Rex's picture

Just like the French paisans!

louis, c'est que vous?

Thu, 02/09/2012 - 11:06 | 2141549 Mr Kurtz
Mr Kurtz's picture

Well one thing you can be sure of when it comes to the "Rule of Law" and taxes. Stop paying your tribute (taxes) to the rulers and you'll see how fast the law gets applied.

Thu, 02/09/2012 - 11:27 | 2141711 Abitdodgie
Abitdodgie's picture

You people are STILL paying taxes , you people are such internet heros , some day you might grow balls and deal with the real world. If everyone stoped paying taxes we would not have a problem with the Government any more DUH.

Thu, 02/09/2012 - 12:00 | 2141904 Buckaroo Banzai
Buckaroo Banzai's picture

Refusing to pay their income taxes-- that's one thing I can admire the Greeks for.

Now they have to follow through, and reduce the size and scope of their government by 50%. THAT'S the hard part.

Thu, 02/09/2012 - 10:38 | 2141423 Shizzmoney
Shizzmoney's picture

It will be dirty and nasty, but also lulzy.

As Max Keiser said, "I'd love if they would try in Greece what they are trying here.  Considering that there are 250 million guns in the United States, it adds a little 'spice' to the whole situation."

Why do you think the government wants to take away our guns? 

That's why I love, but also hate, pacifists.  I love the fact they want a peaceful world, an end to violence.  It's an admirable gain.

But that goes against, you know, SCIENCE. I hate the fact they ignore the fact that not all organisms think on their level, especially humans.  That we can mave some magic wand, that will eliminate violence, guns, passion, and feeling. 

For example: not all chimps in the jungle are compassionate as their peers.  There are just as many chimps who would break a coconut open for his fellow mate as there are as many who would rather break a coconut over a fellow chimps' head so he will have all the coconuts. 

Until the environment changes, surivival instincts kick in, and that usually leads to cooperation.  Or clan cooperation, as we see with Baboons.

There are evil people in places of high power who know once they take away the threat of retalitory violence, they know they have us by the balls.

And not all psychopaths are dumb, frothing drug addicts.  Some happen to be the heads of police forces, states, and banks. 

Thu, 02/09/2012 - 11:21 | 2141658 Think for yourself
Think for yourself's picture

I disagree with the meaning of pacifism as you use it; I do not deny that it is an existing ideology, but rather affirm it does not make sense. So I understand why you "hate" it.

A "pacifist" without means of defense, be it guns, martial arts training or other weapons, is weak and powerless. Then is it really a choice for him to dismiss the use of violence? No it isn't, he simply doesn't have the means! His philosophy has disempowered him.

Now, I regard much more highly the real pacifism that can be seen in spiritual martial arts (i.e. most except krav maga). The martial artist is trained to his weapons so that he might be competent in their use. He is led to understand that legitimate defense is not aggression, i.e. not violence and does not go against the roots of his peaceful attitude. Yet he does not intend to use that power and his whole philosophy centers around averting whichever conflict presents itself peacefully, self-defense being the last resort.

The real power of pacifism lies not in being disempowered but rather in having the means to fight back yet not wanting to use them, exploring all other possible avenues to avoid conflict escalation.

 

Thu, 02/09/2012 - 11:54 | 2141869 Shizzmoney
Shizzmoney's picture

The real power of pacifism lies not in being disempowered but rather in having the means to fight back yet not wanting to use them, exploring all other possible avenues to avoid conflict escalation.

I 100% agree; I guess I was more referring to utopian pacifists, like my friend Jen (who literally gets mad when you swat a fly). Not the ones you mentioned above.

I know quite a bit of MMA guys; even had the pleasure of taking bong hits with the awesome Eddie Bravo (10 Planet Jiu-Jitsu owner) when I was in Vegas last year for the WSOP.  Just an awesome, fun, happy stoner dude.  But also one who, if you crossed, would take your neck and snap it in a second with a crossover triangle.

I do believe in the Man who walks Quietly with a Big Stick.  That in a sense is why I hate guns (but understand their need for survival); it's taken the morality of violent action away from the aggressor (it's phallic origin is prt of this). 

Thu, 02/09/2012 - 17:54 | 2143669 Things that go bump
Things that go bump's picture

Or like, Gandi and the Quakers, you stand up to them morally and let them hurt and kill without resistance, the theory being that the cognitive dissonance becomes so great that your opponent can't stand themselves anymore. ("Then they fight you, then you win.") I believe most people want to think they are the white hat guys, but I don't think this works with sociopaths.

I have been telling my grandchildren since we invaded Iraq that we are the bad guys here, that our government is evil personified and any cooperation with it is immoral.  I don't know how they reconcile that with what they learn in school.

Thu, 02/09/2012 - 10:00 | 2141286 orangedrinkandchips
orangedrinkandchips's picture

Addicts rarely change....i know...it takes one to know one!

 

I'll sober up tomorrow....i'll stop getting high tomorrow....for sure!

 

 

Thu, 02/09/2012 - 10:51 | 2141481 Conrad Murray
Conrad Murray's picture

Not me. I'm doubling my doses.

Thu, 02/09/2012 - 10:01 | 2141293 _ConanTheLibert...
_ConanTheLibertarian_'s picture

REVOLUTION BITCHEZ!!!

Thu, 02/09/2012 - 10:42 | 2141444 tim73
tim73's picture

Greeks are unable to agree when and where but further revolution negotiations will be held today, Sunday, surely next week. Sorry, not next week but no later than April 4th. Sure thing. No problem. Maybe instead a picnic with rioting? May 7th at earliest? OK! Done deal except who is gonna pay for the picnic? Germany? 

Thu, 02/09/2012 - 10:48 | 2141469 _ConanTheLibert...
_ConanTheLibertarian_'s picture

Well, we got politicians who have to think about their hidden agendas....and we got the people who are literaly starving. I'd say the people will quickly unite and bring on the revolution. Nothing complicated about that.

But the deal can still fail due to some stupid reason. Let's hope for that.

Thu, 02/09/2012 - 10:02 | 2141294 GeneMarchbanks
GeneMarchbanks's picture

M.A.D always prevails in the end.

Thu, 02/09/2012 - 10:01 | 2141296 Gauthijm
Gauthijm's picture

What a farce

As if anything the Government of Greece can actually deliver with the country torn apart by unions and sociatal collapse

Over

Jean

Thu, 02/09/2012 - 10:02 | 2141298 fightthepower
fightthepower's picture

Revolt you Greek LOSERS!

Thu, 02/09/2012 - 10:12 | 2141351 Dr. Engali
Dr. Engali's picture

It's kind of hard to call the Greeks losers when you look at the banana republic we have become.

Thu, 02/09/2012 - 10:45 | 2141458 Temporalist
Temporalist's picture

Who is we? If you're not already on the moon base with Newt you're nobody.

Thu, 02/09/2012 - 11:10 | 2141584 pods
pods's picture

Perfect comment Doc.  What is going on in Greece WILL happen here.  Greece is just at the margin, so they are seeing it first.

To the Greek socialist, marxist, communist lazy fucks credit, when things happen in THEIR nation, they actually do something about it.  Of course, even here many fail to see what is actually going on.  Instead they run with the something for nothing crap.  When what is going on is the merely the planned result of contraction in a world of debt money.  But we have to blame the greeks, who are the first in line.

You can even see it to a degree in the USSA, where people at the margins have been portrayed as deadbeats, etc.  Just futher along the same timeline we are all on.

pods

Thu, 02/09/2012 - 10:02 | 2141300 youngman
youngman's picture

"will "pledge" to return to GDP growth in 2013"....that had to be a typo..it should be 2103....there fixed

cue in the year 2525...hager and owens

Thu, 02/09/2012 - 10:11 | 2141343 Imminent Collapse
Imminent Collapse's picture

That's Hager & Evans

Thu, 02/09/2012 - 10:14 | 2141353 youngman
youngman's picture

Hager and Owens were the B side...lol...my bad

Thu, 02/09/2012 - 10:32 | 2141414 Gordon Freeman
Gordon Freeman's picture

It's actually Zager and Evans--terrible song...

Thu, 02/09/2012 - 10:42 | 2141442 Ralph Spoilsport
Ralph Spoilsport's picture

It's actually Zager and Evans--terrible song...

 

You had to be there.

Thu, 02/09/2012 - 10:42 | 2141443 Clueless Economist
Clueless Economist's picture

It's actually Eager & Zevens

Thu, 02/09/2012 - 10:43 | 2141449 Ralph Spoilsport
Ralph Spoilsport's picture

Zager sells his own guitars now:

 

http://www.zagerguitar.com/

Thu, 02/09/2012 - 10:54 | 2141483 Badabing
Badabing's picture

It's Zorba & Greek

 

If man is siill alive they may find.

Thu, 02/09/2012 - 10:03 | 2141301 CClarity
CClarity's picture

US Treasuries not "buying" it.

Thu, 02/09/2012 - 10:03 | 2141302 youngman
youngman's picture

Hey but the bankers will get their payouts...incredible...

Thu, 02/09/2012 - 10:14 | 2141356 Dr. Engali
Dr. Engali's picture

And the sad thing is the Greeks ,and eventually us, will fight amongst ourselves instead of against the fuckers causing this mess.

Thu, 02/09/2012 - 10:44 | 2141451 Shizzmoney
Shizzmoney's picture

I actually think the opposite here.  Why? hacktivists.

I can see, in the coming years, a great "revelation" happening due to some 16 year old kid getting a file on his hands he not supposed to.  He'll dox it, we'll read it, and the populace will then kind of start to figure out what its going on.

People are more efficient today.  People also know where Jaime Dimon lives.

Remember, this isn't anti-slavery v slavery; or colonialists vs royalists.  This is haves vs have-nots.....and have-nots, in history, tend to be on the winning side of these battles. 

There was a reason why Haitian slaves revolted against Frace, and were one of the few slave citizens to actually beat their masters.  It was because fo the "printing press", moreso than their swords (although they were up against the French, not saying much). 

Thu, 02/09/2012 - 10:48 | 2141464 Temporalist
Temporalist's picture

You're probably right and nothing like what happened with Assange and B.Manning will ever happen again too.

Thu, 02/09/2012 - 17:58 | 2143684 Things that go bump
Things that go bump's picture

Where does he live again?

Thu, 02/09/2012 - 10:03 | 2141303 John Law Lives
John Law Lives's picture

Somebody over there get Sausage a bulletproof vest.  He is the leader of the angry mob.

Thu, 02/09/2012 - 10:04 | 2141307 bigwavedave
bigwavedave's picture

So Greece gets to borrow more money. Perfect!

Thu, 02/09/2012 - 10:16 | 2141361 GetZeeGold
GetZeeGold's picture

 

 

 

 

At this point....I don't think you can call it borrowing.

 

 

 

Thu, 02/09/2012 - 11:31 | 2141729 Calmyourself
Calmyourself's picture

So Greece acts as a conduit to funnel more money to banksters, fixed it for you..

Only 19% of the bailout funds go to the population proper..

Thu, 02/09/2012 - 10:04 | 2141309 roccman
roccman's picture

The global power down continues.

 

Question remains - how soon before the populace explodes across the globe?

Thu, 02/09/2012 - 10:05 | 2141320 Benedict Farse
Benedict Farse's picture

"All you need is Love" - John Lennon

"And a bullet proof vest" - Benedict Farse

Thu, 02/09/2012 - 10:06 | 2141323 LawsofPhysics
LawsofPhysics's picture

Same as it ever was.  When the banks lends you a little money that you can not pay back, that's your problem. When the bank lends an entire country a shitload of money that will never be paid back, that's the banks problem.

Thu, 02/09/2012 - 10:05 | 2141324 walcott
walcott's picture

 2 days bitchez...

Thu, 02/09/2012 - 10:09 | 2141330 RobotTrader
RobotTrader's picture

The protesters will get tear gassed and firehosed after a few days without food or sleep.

 

PigMen and Plutocrats will once again resume control over the sheep and it will be back to business as usual:

- More corruption

- Bigger Fractional Reserve Banking

- Increasing use of OTC Derivatives

Yet another "Wash, Rinse, Repeat" cycle starts anew.

And if there are any problems, the 10-yr. yield will crash once again, and Uncle Gorilla will be able to float off even more "zero interest" financing and the debt levels will ascend yet again.

Wash, Rinse, Repeat.

Thu, 02/09/2012 - 10:28 | 2141396 Eally Ucked
Eally Ucked's picture

I used to say the same about Poland in Solidarity age, and what happened?

Thu, 02/09/2012 - 10:32 | 2141411 Zero Debt
Zero Debt's picture

Commence operation Cut Down The Tall Trees in T-10, 9..

Thu, 02/09/2012 - 10:59 | 2141514 Zymurguy
Zymurguy's picture

Essentially, they'll kick the austerity can down the road to appease the angry subjects.

I think that's all Greece knows how to do.  Just promis them more, promise change, promise responsibility - then just keep doing the same thing until the next crisis.

Thu, 02/09/2012 - 10:09 | 2141333 pine_marten
pine_marten's picture

They want wealth redistribution apparently.  Good luck with that.

Thu, 02/09/2012 - 10:21 | 2141370 wandstrasse
wandstrasse's picture

We all will get more wealth redistribution.. but in the sense the ponzi bankers understand it: from the poor and the middle class towards the rich and hyper-rich.

Thu, 02/09/2012 - 10:09 | 2141335 Jim in MN
Jim in MN's picture

Wholesale NYMEX gasoline back over $3.00 this morning

Someone knockin' at the door

Somebody ringin' the bell...

Thu, 02/09/2012 - 10:10 | 2141338 SimpleandConfused
SimpleandConfused's picture

I thought they were already on strike; since about 2008?  Social uprising?  Hasn't ZH had a cam link to some city square to view live images of social uprisings for about as long?

Why do I get the feeling this is more noise and less boom?  If history is a guide, ZH will be running articles about how the Greeks are on strike and "socially" uprising ten years from now. (Yes, I believe ZH will still be around only maybe so matured it will look like today's MSM).  Some deal on their bonds will be "in the works" for perpituity and the bankers will just keep getting richer.

Good entertainment I guess, but I doubt the end is near.  The can kicking road might have an end, but I am beginning to think it far beyond our visible horizon.

Thu, 02/09/2012 - 10:14 | 2141355 Global Hunter
Global Hunter's picture

That is the game TPTB are playing, they are hoping they can steal through some "controlled" inflation and that the masses won't catch on.  If the point comes in Greece or any other Western country where either the bank machines stop working, or pensions/state benefits don't get paid then it will be a gong show.

Thu, 02/09/2012 - 10:25 | 2141381 Calmyourself
Calmyourself's picture

Hunger only hunger..  I read from some poster here that the EU would blockade Greece to make default painful.  No, that will never happen because when people get hungry they kill elites in large numbers.  Elites don't want PIIGS getting any ideas, Greeks will stay fed enough to produce at least a portion of the vig. 

Thu, 02/09/2012 - 11:10 | 2141587 Temporalist
Thu, 02/09/2012 - 10:10 | 2141342 tarsubil
tarsubil's picture

Daddy needs his medicine!

Thu, 02/09/2012 - 10:11 | 2141344 Rastadamus
Rastadamus's picture

Greece is messy. Use lube.......

Thu, 02/09/2012 - 10:53 | 2141489 SimpleandConfused
SimpleandConfused's picture

LOL!

When I was a younger man, we all understood what it meant to go Greek sexually.  Now perhaps the EU will give it to the Greeks "Greek" style?

Getting fucked up the ass seems to be a great pleasure to many a man and woman, so perhaps this Greek thing will not be all that bad?

Thu, 02/09/2012 - 11:02 | 2141531 Badabing
Badabing's picture

The Greeks get bailed out by Aliens in exchange for anal probing.

Thu, 02/09/2012 - 10:12 | 2141347 dcb
dcb's picture

What I am going to say is disturbing, but these techncrats have to be overthrown, there is no other way out. striks clearly have been shown to do nothing, they suspend votin rights. it a war, and they are winning, and unless people see it as war they are lost.

Thu, 02/09/2012 - 10:19 | 2141365 youngman
youngman's picture

I actually feel depressed...its like looking at your kids bad grades....you know they are smarter and can do better...but they don´t ..and it depresses you...same here...Greece should not be getting any more money....they need to fix the problems....it will be hard...yes people will commit sucide...but you can´t live on the lies all  your life...but that is just what this decision is...living a lie..

Thu, 02/09/2012 - 11:03 | 2141532 Sabibaby
Sabibaby's picture

Living a lie AND having unsustainable social programs!

Thu, 02/09/2012 - 10:20 | 2141367 Vergeltung
Vergeltung's picture

"We are Greeks. We Dance."

Thu, 02/09/2012 - 10:21 | 2141372 monopoly
monopoly's picture

31,000 Euros debt for each Greek. Ha, play money. We got that beat. we owe $53,000+ debt for every man, woman and child in US.

Yes, we are  NUMBER 1! America.

Thu, 02/09/2012 - 10:24 | 2141380 LawsofPhysics
LawsofPhysics's picture

Precisely what I was thinking.  The greeks are taking to the streets at $31,000 per person.  America rolls past this number and no one gets off the couch.  Yeah, this should end well.  In the meantime, the U.S. military is the #1 consumer of petroleum in the world, who runs bartertown?  Stay tuned.

Thu, 02/09/2012 - 10:52 | 2141484 MachoMan
MachoMan's picture

What does it matter?  Once you're past the point of being able to pay for it, who cares how much it is?

The greeks aren't taking to the streets because of the number...  they want the number to be higher!  They're taking to the streets because someone is attempting to impose a lower number...  doh!

 

Thu, 02/09/2012 - 11:24 | 2141688 hedgeless_horseman
hedgeless_horseman's picture

 

 

They're taking to the streets because someone is attempting to impose a lower number

Excellent reminder, Macho.

Thu, 02/09/2012 - 10:21 | 2141375 Jason T
Jason T's picture

When you have nothing left to lose, you lose it.  So says Celente.  Let's see if he's right in todays world.

Thu, 02/09/2012 - 10:28 | 2141395 Calmyourself
Calmyourself's picture

Celente never gets the fact that the elites understand that very well.  Which is exactly why the circuses and bread will not stop, a maintenance dose of each will ALWAYS be available.  If they plan for it not to be available then you know the police state is ready for final implementatio n and it is too late anyway.  At some point the sheep must realize the fences are getting higher and higher and push back, so sad they never will..

Thu, 02/09/2012 - 10:24 | 2141378 Catullus
Catullus's picture

They're govt unions so if they don't show up to work, GDP may actually go
up. It's not like govt spending goes down when govt workers don't show up. Payroll ain't that big of a contributor to govt spending as is. Pensions still need funding, welfare programs still redistribute wealth, military contractors are still signing business.

It's the scary reality and why no in the US wants to shut down the govt for a month or two: no one will miss them. It's like the untalented employee that's one of the first to get laid off in an employment "rationalization". They never take vacation, they volunteer for everything, schedule endless meetings, and never really do anything that is of any consequence. You're doing these people a favor by firing them. Seriously, they're paralyzed by fear of not having the corporate/govt job security. They're institutionalized.

Thu, 02/09/2012 - 18:11 | 2143735 Things that go bump
Things that go bump's picture

Don't the French get paid for striking?

Thu, 02/09/2012 - 10:25 | 2141379 Use of Weapons
Use of Weapons's picture
For the gods perceive things in the future, ordinary people things in the present, but the wise perceive things about to happen

Philostratos, Life of Apollonios of Tyana, viii, 7
 

Ordinary mortals know what's happening now,
the gods know what the future holds
because they alone are totally enlightened.
Wise men are aware of future things
just about to happen.

Sometimes during moments of intense study
their hearing's troubled: the hidden sound
of things approaching reaches them,
and they listen reverently, while in the street outside
the people hear nothing whatsoever.

Constantine P. Cavafy, 1915

Thu, 02/09/2012 - 10:26 | 2141386 DOT
DOT's picture

In euros:

Greek per capita debt  31,000

US  per capita   debt   32,800

 

 

Oh Yeah !     USA   USA   USA    USA !

Thu, 02/09/2012 - 10:33 | 2141416 GeneMarchbanks
GeneMarchbanks's picture

Yeah but they are lazy, we are 'productive'.

Thu, 02/09/2012 - 10:36 | 2141422 DOT
DOT's picture

Bullish ! 

Thu, 02/09/2012 - 11:32 | 2141746 AbruptlyKawaii
AbruptlyKawaii's picture

(PINK:MACE)

Thu, 02/09/2012 - 10:50 | 2141473 Dr. Engali
Dr. Engali's picture

Remind me what we produce again.

Thu, 02/09/2012 - 11:18 | 2141618 Temporalist
Temporalist's picture

Weapons, body armour, jails...and non-lethal weapons.

Thu, 02/09/2012 - 11:22 | 2141655 hedgeless_horseman
hedgeless_horseman's picture

 

 

Remind me what we produce again.

Social networking sites, financial derivatives, derivatives of derivatives, etc.

Thu, 02/09/2012 - 15:04 | 2142980 Papasmurf
Papasmurf's picture

Debt instruments.

Thu, 02/09/2012 - 10:26 | 2141387 Dane17
Dane17's picture

These daily updates on deals about to happen are all a joke.  Can you truly conceive of a scenario where some great deal gets struck and everything in the EU returns to "normal"?

Greece is done, the only question now is how many other nations go down with it.

Thu, 02/09/2012 - 12:15 | 2141975 Mesquite
Mesquite's picture

Ya..But the daily updates are needed to justify the manipulated markets...so the insiders can get there daily take...

Thu, 02/09/2012 - 10:27 | 2141389 Jim in MN
Jim in MN's picture

Jeb Bush-Condi Rice 'Ultimate Evil 2012' ticket, anyone?

Remember the convention is in Tampa, AKA Crazytown.

http://www.realclearpolitics.com/articles/2012/02/09/path_to_a_brokered_...

 

Thu, 02/09/2012 - 10:39 | 2141435 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Why is anyone contemplating other candiadates running when they can't get on the ballot.

Maybe the '16 ballot, but not the next.

Thu, 02/09/2012 - 10:30 | 2141403 overmedicatedun...
overmedicatedundersexed's picture

agree take money=spend it=don't do what you agreed to=threaten default rinse a repeat.,gotta love the greek-iceland walked the walk and defaulted..the greeks just keep saying yes and not doing it, while taking EU money -repeat gotta love the greeks..vs here in USA states agree to forget fraud of banks on lending for .0001 cents on the dollar..alot of state AG's got greeked and we got the shitty end as it always is.

Thu, 02/09/2012 - 10:31 | 2141405 Fantasy Planet
Fantasy Planet's picture

This civilization thing was fun while it lasted.  

Thu, 02/09/2012 - 10:46 | 2141463 Clueless Economist
Clueless Economist's picture

Thanks Herve, no go look for the goddamn plane and let Ricardo know when you spot it

Thu, 02/09/2012 - 15:48 | 2143167 Fantasy Planet
Fantasy Planet's picture

No plane.  It's only "de pain, de pain" you now get. 

Thu, 02/09/2012 - 10:32 | 2141409 I am a Man I am...
I am a Man I am Forty's picture

when are you going to do an expose on how bad ass apple is doing and its inevitable approach to an ever so nice stock price of 500?  you probably don't want to ask reggie to contribute.

Thu, 02/09/2012 - 10:35 | 2141419 Acet
Acet's picture

So, just out of curiosity, what caused the 1.5% jump in GLD from 1735 to 1750 just now?

Thu, 02/09/2012 - 10:38 | 2141425 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Somewhere Bernanke is speaking,

Goldbug....goldbug....

-Citizen Bernanke

Thu, 02/09/2012 - 10:39 | 2141429 PORTA PORTA
PORTA PORTA's picture

Original - conf- doc on Greek program..!

 

enjoy and SIGN !! - Note the introductory 3 pages Letter to Lagarde

http://www.scribd.com/doc/81054843/Memorandum-of-Economic-and-Financial-...

 

pp

GREECE

Thu, 02/09/2012 - 10:38 | 2141430 junkyardjack
junkyardjack's picture

When will the Greeks learn that the citizens don't matter...

Thu, 02/09/2012 - 10:42 | 2141445 PORTA PORTA
PORTA PORTA's picture

In our history we have learnt to fight against ANY enemy no matter who he is or how strong he is.

We will do the same again, and again and maybe.. after being the guineypigs.. we maight assist the rest of the nations to resist against the Sickness of NWO.

PP

Thu, 02/09/2012 - 10:39 | 2141436 ZeroPoint
ZeroPoint's picture

PERESTROIKA!!!!!!!!

Thu, 02/09/2012 - 10:40 | 2141439 SDRII
SDRII's picture

In honor of the Draghi collateral and rumored greek deal it is worth reporsting the Hugh hendry and Jeff Sachs "debate"

Thu, 02/09/2012 - 10:52 | 2141485 mktsrmanipulated
mktsrmanipulated's picture

this whole fucking world is a joke..guys go to jail for stealing electronic equipment but these fuckers steal properity and lives what a fucking joke

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