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Greece Warns It Will Soon Be In "Condition Of Absolute Poverty"

Tyler Durden's picture


And while the bankers (on both sides of the table) haggle about how to best leech Greece even dryer (with a solution due any hour, day, week now), the actual people are starting to wave the white flag of surrender. Because the opportunity cost of every additional coupon payment is having a direct, immediate and increasingly more dire impact on virtually every aspect of the economy. Kathimerini reports that "about 160,000 jobs will be lost this year in the commerce sector, according to the National Confederation of Greek Commerce (ESEE) as the constant decline in disposable income has led to a sharp drop in turnover and a steep rise in the number of enterprises shutting down." Indicatively, the latest Greek employment figures per the IMF, show  that 4.156MM people are employed. So commerce alone is about to lead to a 4% drop in total jobs. As the chart below shows, net of just this sector, Greek jobs are about to go back to 2010 levels. What this means for the Greek unemployment rate, and for GDP we leave to our readers, although the ESEE does a good job of summarizing what to expect: the "ESEE warns that soon Greece will be in a condition of absolute poverty." And that, ladies and gents, is how Europe slowly but surely reentered the Feudal age, and what every other country in the European periphery that has a massive debt load, and no surplus (actually make that every country in the world), has to look forward to: absolute poverty, aka debt slavery.

From Kathimerini:

The jobs to be lost concern 60,000 employers and 100,000 employees in the sector, ESEE expects. Given the data for a 6.2 percent fall in household consumption in 2011 and the Eurostat forecast for a further decline by 4.3 percent this year, ESEE warns that soon Greece will be in a condition of absolute poverty.


With 60,000 enterprises having shut down since the start of the crisis to date, their number is set to double by the end of this year, ESEE estimates.

Once again, it appears that Chuck Palahniuk will be proven right when stating that it's only after we've lost everything, that we are free to do anything; and it will be up to the Greeks to prove him right.


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Wed, 02/01/2012 - 17:27 | 2117784 Bull v. Bear
Bull v. Bear's picture

They need a dictator...

Wed, 02/01/2012 - 17:42 | 2117829 nope-1004
nope-1004's picture

If the entire Western world stood up and acknowledged their real financial postions, minus "potential" growth, and minus a credit binge, the truth is we'd all be broke and headed for poverty.

But the key here to remember is that the yardstick used to measure Poverty is against that of a market stoked with fake dollars and irresponsible credit.  It's been that way since the '70's at least.  So how can we say Greece will be in poverty?  In actual fact, reality is coming.  Not poverty.  The spoiled just have to learn a new way, and that's what is going to be painful for some.


Wed, 02/01/2012 - 17:43 | 2117842 redpill
redpill's picture

This is the best Greek headline in weeks!  I figured they'd be in absolute poverty a long time ago.

Wed, 02/01/2012 - 17:54 | 2117871 Fedaykinx
Fedaykinx's picture

long ouzo and coconut oil~

Wed, 02/01/2012 - 18:00 | 2117883 King_of_simpletons
King_of_simpletons's picture

Guess the Greek's didn't understand what "Paying the Piper" really meant until now, something unfortunately is happening here as the stupids are busy arguing whom to elect - Rombama or Obamney.

Wed, 02/01/2012 - 18:06 | 2117911 Nobody special
Nobody special's picture

Iceland baby. They've shown the way. Greece - save your people.

Wed, 02/01/2012 - 18:24 | 2117998 TruthInSunshine
TruthInSunshine's picture

+ 100 Quadrillion


All alleged debtor nations under the fractional reserve bankster's (i.e. House of The Red Shield) thumb should simply follow Iceland's example and tell them to get bent.

It's worked out well for Iceland, and despite the dire warnings of esteemed persons such as Dr. Paul Krugman, it will work out very well for any other nation that decides to get all INDEPENDENT.

Wed, 02/01/2012 - 18:38 | 2118053 wisefool
wisefool's picture

Please dont feed the Krugmans.

Wed, 02/01/2012 - 20:25 | 2118386 trav7777
trav7777's picture

Maybe those slimy effeminate greeks should think about producing something and working?

Wed, 02/01/2012 - 21:16 | 2118531 disabledvet
disabledvet's picture

well they had a Lotus but somebody blew it up.
And now they're on the run!

Wed, 02/01/2012 - 21:55 | 2118622 Michael
Michael's picture

I just blew chunks laughing out loud at the best ZH headline of the week.

Sitting high above the sheeple on my perch like an overlord, I can't help but enjoy the massive suffering.

People who won't stand up for themselves deserve to be slaughtered.

Wed, 02/01/2012 - 22:22 | 2118690 JPM Hater001
JPM Hater001's picture

Cant they just discuss this over some ouzzo?

Thu, 02/02/2012 - 00:22 | 2118939 buyingsterling
buyingsterling's picture

The Greeks have found a way to force payment of taxes: The attach them to peoples' power bills.

 s whole equation is screwed: Banks produce 'money' from nothing and loan it out at interest to people who can't repay it, so future generations get to live in poverty because of bad actors on both sides.

IMNSHO, an accounting should be done to determine where actual earned money was lent to Greece and others (grandma buying t-bills) and where it was the product of fiat chicanery. For the latter, the people are already paying it off through inflation, and whatever interest the banks have already been paid is more than enough for the nothing they did to earn it. Pay granny for her T bills, fuck the banksters - let the banks fail and send the message for good: governments cannot be trusted to borrow, and banks can't be trusted to make their pixie dust money. Iceland worldwide, or we never escape these slavemasters, or irresponsible socialist governments (partners in crime).

Thu, 02/02/2012 - 00:26 | 2118945 Harlequin001
Harlequin001's picture

'Greece Warns It Will Soon Be In "Condition Of Absolute Poverty"'

Once again the error is in the title.

Greece Warns It Will Soon Be Clear That They Are, And Have Been Living In Absolute Poverty For Many Years..."
Thu, 02/02/2012 - 00:28 | 2118956 buyingsterling
buyingsterling's picture


(I've been married for 13 years, never happier. Is everyone else seeing an ad here about meeting 'fit singles'? I thought they had this ad shit down cold. They know now many Courics my last dump was, but they think I want to step out on the Mrs.?)

Thu, 02/02/2012 - 01:54 | 2119109 ElvisDog
ElvisDog's picture

Don't fight destiny. Click on the link....

Thu, 02/02/2012 - 05:11 | 2119276 Dave Thomas
Dave Thomas's picture

My Ad keeps telling me I want a Chase Sapphire card.

Thu, 02/02/2012 - 05:32 | 2119290 StychoKiller
StychoKiller's picture

Mine keep trying to sell me gold boat anchors and silver chains...

Thu, 02/02/2012 - 00:18 | 2118935 LaLiLuLeLo
LaLiLuLeLo's picture

Can't say they didn't try :(

Wed, 02/01/2012 - 23:41 | 2118850 hbjork1
hbjork1's picture

Weather in Greece is pretty mild. The winter temps in the coldest parts are reported to be in the 40 to 50 F.  Not bad.  Certainly the low temps will be no worse than central Arkansas.  If the government mobilizes, to provide supplies, the people will survive. 

During the 30's the US had something called the  CCC.  It provided income distriution and contributed to the nations infrastructure. 

A local author (happened to be a friend) did a little book on the Michigan CCC.  A "book signing"at a former CCC site in north Oakland County was attended by a few former CCC vets,  To a man they had positive statements about the experience and a couple professed to think it was one of the best things that ever happened to them, preparing them very well for WWII.

 Of course, I guess we all know that the big problem with implementing this kind of thing would be the potential for corruption at the top in project and allocation. 

Thu, 02/02/2012 - 00:26 | 2118950 UP Forester
UP Forester's picture

To a man they had positive statements about the experience and a couple professed to think it was one of the best things that ever happened to them, preparing them very well for WWII.

Hmm.  Think that was the plan?

Wed, 02/01/2012 - 23:41 | 2118851 hbjork1
hbjork1's picture

Weather in Greece is pretty mild. The winter temps in the coldest parts are reported to be in the 40 to 50 F.  Not bad.  Certainly the low temps will be no worse than central Arkansas.  If the government mobilizes, to provide supplies, the people will survive. 

During the 30's the US had something called the  CCC.  It provided income distriution and contributed to the nations infrastructure. 

A local author (happened to be a friend) did a little book on the Michigan CCC.  A "book signing"at a former CCC site in north Oakland County was attended by a few former CCC vets,  To a man they had positive statements about the experience and a couple professed to think it was one of the best things that ever happened to them, preparing them very well for WWII.

 Of course, I guess we all know that the big problem with implementing this kind of thing would be the potential for corruption at the top in project and allocation. 

Thu, 02/02/2012 - 03:08 | 2119178 RexZeedog
RexZeedog's picture

Check your references, AR gets much colder than you think in the winter...

Thu, 02/02/2012 - 00:57 | 2119018 AgShaman
AgShaman's picture

Why don't you and Million Dolla Bonehead help 'em out and buy an island or two?

Wed, 02/01/2012 - 18:57 | 2118122 macholatte
macholatte's picture


Has anybody worked out a timeline that shows a theoretical point at which the sheeple really begin to get agitated and start to transform back into humanoids?

Could such a timeline be overlayed onto to the other PIIGS and then the USA?

My guess is that the transformation into sheeple is irreversible.

Wed, 02/01/2012 - 19:03 | 2118151 T1000
T1000's picture

There will always be the unwashed masses. It's science.

Fuck the banana republic; we're in a Wall Street Republic now, bitches! 

Wed, 02/01/2012 - 20:08 | 2118341 Poor Grogman
Poor Grogman's picture

Once you are completely sheeple-ised. I think your only chance of getting anywhere is reincarnation as a goat, then just work up from there.

Although I too would like to see some scientific studies on this very important issue.

Wed, 02/01/2012 - 20:23 | 2118377 morkov
morkov's picture

to get them on the streets you have to burn their houses

Wed, 02/01/2012 - 20:50 | 2118459 Fedophile
Fedophile's picture

Never. It wont happen. It's not only irreversible it's inherent.

At most some sheeple with complain and protest life isn't as easy as they think it should be, but how many of them try and understand how they got fucked? Bitching and moaning are much easier congnatively than challenging your worldview by learning, critical thinking and debate.

Wed, 02/01/2012 - 21:47 | 2118607 Poor Grogman
Poor Grogman's picture

Fascism is the next step for a typical sheeple, that way they can still keep their brain in neutral but have all the anger channeled for them.

Instead of taking the red pill, the typical sheeple will just allow themselves to be used as a pawn in a more sinister game. (while feeling like an important part of some new paradigm)

That is until they become cannon fodder defending some "cause" that they were  told was important.

Wed, 02/01/2012 - 19:18 | 2118204 Widowmaker
Widowmaker's picture

Tells you how absolutely meaningless money and "credit" really are.

What are the fuckchilds going to do, sink the island?

Wed, 02/01/2012 - 19:49 | 2118295 johnu1978
johnu1978's picture





Wed, 02/01/2012 - 22:41 | 2118737 Buck Johnson
Buck Johnson's picture

Iceland's people did say get bent and said we won't pay and we will not say the debt is ours.

Wed, 02/01/2012 - 18:41 | 2118057 kito
kito's picture

@nobody---youre way off base comparing iceland to greece. the iclandic people are a small tight knit productive country that doesnt have a structural societal problem like greece. icelandic banks tried to dump their debt burden onto the people, and the people said no. greeces problems run muuuuchh deeper. they spend way more than they bring in, something theyve been doing since the dawn of man. and this doesnt get fixed with the wave of the debt relief magic wand.............. 

Wed, 02/01/2012 - 19:39 | 2118271 smiler03
smiler03's picture


Thank you for correcting the Iceland myth that uneducated morons on ZH are ignorant of.

22 upvoted "Nobody special" and 13 upvoted "TruthInSunshine" for suggesting that Greece do an Iceland

How bloody stupid are ZH readers???? Have you been watching Fox News and reading the Onion??

These are the facts about Iceland: Their debt is 90% of GDP. They are running a budget deficit. What Iceland did was NOT bail out their banks. They DID NOTHING about the countries debt except increase it.

Those majority upvoters need to educate themselves, you're just so so stupid and sheep like. Idiots. A disgrace to a financial blog.

Wed, 02/01/2012 - 19:46 | 2118286 waterhorse
waterhorse's picture

Being that I am not all that financially savvy, but have come to ZH to educate myself; I'm stupid, a sheep, an idiot and a disgrace to this blog?

Wed, 02/01/2012 - 20:59 | 2118374 Arius
Arius's picture

waterhorse - i guess you are not alone ... let people vote w/ their click - see how kitco and the other guy (dumb and dumber comes to mind - or the smartest guys in the room aka enron, goldman suks types) perform on this test ...

Wed, 02/01/2012 - 20:07 | 2118340 kito
kito's picture

umm...does that mean you agree or disagree with me?

Wed, 02/01/2012 - 20:33 | 2118408 Arius
Arius's picture

ummm ... dumber than i thought ... hmmmm ... what do u think? just make a guess ... fifty fifty u might be right again ... i wonder who gave you a chance in life???

Wed, 02/01/2012 - 23:35 | 2118791 kito
kito's picture

Speaking of intelligence arius, learn to read, as I'm not kitco, but kito. Pms on your mind?

Wed, 02/01/2012 - 23:36 | 2118838 akak
akak's picture

Perhaps Arius is just another poor victim of post-Nadler traumatic disorder?

Thu, 02/02/2012 - 07:22 | 2119341 Arius
Arius's picture

umm...does that mean you agree or disagree with me?

i see Nadlers on the trees ... :-)

Thu, 02/02/2012 - 08:46 | 2119403 AnAnonymous
AnAnonymous's picture

Very humourous sequence. Best.


does that mean you agree or disagree with me?


Ah, US citizenism big congregation around lies.

What matters is not facts, what matters is that we get a good solid lie we can defend together against the 'enemy'

Will forge us into battle brothers...

Thu, 02/02/2012 - 16:09 | 2121048 akak
akak's picture

Chinese citizenism is a boil that must be lanced.

Wed, 02/01/2012 - 20:31 | 2118360 TruthInSunshine
TruthInSunshine's picture

smiler, take a look in the mirror, you troglodyte.

Iceland adopted, on about as pure a basis as any nation has in the last 50 years, a non-bailout of the banking sector, which for those of us who are infinitely more sophisticated on financial matters as you obviously are, is as close as a modern day 'sovereign' can get (absent canning their central bank) to wresting oneself free of the international fractional reserve banking scheme.

Iceland Loses Its Banks, Finds Its Wealth - Reason Magazine


Iceland Declares Independence from International Banks


Iceland Voters Reject Bank Bailout Again
Thu, 02/02/2012 - 04:21 | 2119228 pakled
pakled's picture

@ETF, I always read your comments. Thanx for these links. Very Instructive.


Suggestion: When you go to the trouble of using the chain/link icon to add your link, as you did here, set the link to open a new page rather than navigate away from the current ZH page. Helps you keep you place. Plus, if you're on a slow-ass satellite link, due to living off the grid, like me, where I often have time to shave after hitting the back button to return to ZH, it makes me think very kindly of the stranger who performed said courtesy.



Thu, 02/02/2012 - 07:26 | 2119343 prole
prole's picture

MegaDittos on TIS with insightful posts.

As Far As whether or not the links provided "navigate away from the current ZH page" or not, why should that matter either way?

Right Click the link, go to "open in a new tab" or just press and click the scroll wheel in your mouse (over the link) if you have FireFox browser that should work. You never have to know or worry how the original link was made, you just click it your way. (open a new tab or window)

I figured everyone on this site knows way more about computers than me what's up?

As far as Greece I don't have much of an opinion, tried surviving in Europe myself couldn't do it. (would rather be there though)

Thu, 02/02/2012 - 00:58 | 2119020 steve from virginia
steve from virginia's picture


What we see are the effects of $110 crude over an extended period. It reduces consumers (wasters) to absolute poverty. Coming to a town near you ...

Thu, 02/02/2012 - 08:49 | 2119406 AnAnonymous
AnAnonymous's picture

Not really.*

In the US world order, the most efficient wasters shall come to top.

Greeks have to rediscover they are not part of the most efficient wasters in the world and as such shall relinquish their seats in thegreat US citizen game of distribution of resources to much abler wasters than themselves, Greeks.

The big waste game keeps going though.

Will only end with the depletion of resources under US citizen driven world.

Wed, 02/01/2012 - 23:49 | 2118872 Larry Dallas
Larry Dallas's picture

Fuck 'em. Let them learn to swim like Iceland did.

Thu, 02/02/2012 - 00:06 | 2118908 joshua10
joshua10's picture

@ Nobody special, BINGO!!!!!!!!! I couldn't have said it any better!!!

Wed, 02/01/2012 - 18:23 | 2118001 Colombian Gringo
Colombian Gringo's picture

All the Greeks know now is that they are going to take it up the rear, bankster style.

Wed, 02/01/2012 - 18:51 | 2118093 RiverRoad
RiverRoad's picture

I thought that was Greek style.

Thu, 02/02/2012 - 07:38 | 2119359 fiddy pence haf...
fiddy pence haff pound's picture

Nice cultural point of reference. This is where we're supposed to all laugh, knowingly.

Harmless joke.


Anyway, their dicks will get ripped off, pornoman.


check the stories of how Greek grannies were killing German soldiers during WW2. The old women were picking them off

with shotguns as the German's were floating down in their grand parachutes.


War has yet to be declared.

Then we'll see who's taking it, and where.


Wed, 02/01/2012 - 18:47 | 2118080 Dugald
Dugald's picture

I just don't get it, you have been right royally fucked over by years of crooked representatives and leaders, yet here you go again with the banners and placards, and all th hoopdee doo. What the hell will it take for you guys to wake the hell up? Or is common sense a bridge too far for you all.

Wed, 02/01/2012 - 19:12 | 2118184 CompassionateFascist
CompassionateFascist's picture

In Greece, the people have no guns. Same in Europe, Britain. Not so in US, where - soon enough - they will be put to good use.

Wed, 02/01/2012 - 20:04 | 2118331 zanza
Wed, 02/01/2012 - 20:33 | 2118415 Raymond Reason
Raymond Reason's picture

Ah, that's an American myth.  There are guns all over Europe owned legally by citizens, including Greece.  Even in Russia. 

Wed, 02/01/2012 - 21:17 | 2118535 Calmyourself
Calmyourself's picture

Mmm, myth huh.. How do you get them out of the "shooting club" safes where they must stay except purely sporting shotguns which are controlled and pretty much useless..

Thu, 02/02/2012 - 01:04 | 2119030 Freddie
Freddie's picture

The only product more popular in the USA that iPads and iPhones is the AR15.  How many companies in the last few years have sprung up making a full line of ARs and also .308 versions? Easily 1 dozen. 

Sadly, it does not mean jack cause stupid morons who watch TV are easily controlled sheep.

ZH is filled with lots of TV watching serfs.

Thu, 02/02/2012 - 07:33 | 2119347 prole
prole's picture

Then why are you wasting your time here?  I heard Monica and Chandler are getting back together?


Thu, 02/02/2012 - 10:29 | 2119641 trilliontroll
trilliontroll's picture

Thats the legal guns. Be sure that a LOT of Guns are owned illegal and hidden.

Thu, 02/02/2012 - 02:39 | 2119152 cranky-old-geezer
cranky-old-geezer's picture



soon enough - they will be put to good use.


There will be no "revolution" in America, period, end of story.

Wed, 02/01/2012 - 18:01 | 2117893 redpill
redpill's picture

More like baseball bats & bike helmets!

Wed, 02/01/2012 - 18:09 | 2117932 XitSam
XitSam's picture

They were. Borrowing money when you're broke doesn't add to your wealth.

Wed, 02/01/2012 - 20:49 | 2118456 dirtbagger
dirtbagger's picture

Greece and Spain used to be the cheap date for Europe until the Euro and monetary union came around.   Let them return to their former currency (devalued of course) and the European tourists will start returning to get sunburned and stupid drunk.  With their own currencies, they will do fine.

Wed, 02/01/2012 - 21:59 | 2118628 tempo
tempo's picture

Never in memory has there been such inequity. In the West, most milk the system and are addicted to social networking, not working. This lavish lifestyle continues only as long as the USA and ECB fund trillions of dollars of new debt not based on productive assets or incomes. In China, India, and Korea millions toll 12 hours per day for $5/day piece rate wages w/o any benefits. These workers (Foxconn e.g.) live in highly controlled complexes (3000 room dorms, 20 people per room) w/o the smart phones,computers, internet, TV that we assume is our right and privilege. In effect, the US and EU have slaves in the underprivileged in the East. When the defict funding slows, then the workers in countries like Greece must work like those in China.Try and explain this to our Children and Grandchildren. Thats their future.

Thu, 02/02/2012 - 01:49 | 2119103 JOYFUL
JOYFUL's picture

Brilliant! You've managed what no tenured, PHD'd professor or Celente- type hypster could ever accomplish - to boil down in a few sentences the fate and futures of a generation of entitled dupes soon to be berift of their native inheritance and even identities  Bet you dropped outta school at an early age to run a business or somethin!!!!!!!!!!!!

Greece will go down quietly into the night.  The long stealth campaign to weaken the organic ties of family and faith has done it's work.  The children are now devoid of any loyalties outside of their imposed 'social networks, which act as surrogates for kin & country. 

The program of General Education was to teach the masses NOT to think - rather, to respond to code words that flash messages into their damaged synapses, inducing Pavlovian responses of angst, fear, or greed. With no "hoarded" resources of either precious metals or moral fibre, families will be unable to function in their traditional role as mediators of tough times....the FASCIST CORPRO STATE will command(and receive) obedience from it's demoralized peons, who, without their I-Pads, Androids,  and Facebook accounts, will proves to be nothing more than ciphers of the DISINFORMATION AGE,  identity-less ephermeral bits&bytes floating aimlessly in the controlled mediaspace.

Yes, the East will eat the West's lunch, dinner and breakfast, sadly. Mamasan&Papasan never forgot the lessons of their impoverished but proud forbears - trust not the State, nor those who would pretend to "help" thee; help thyselves and thy own, look after the poor and thy neighbors whenst able, pray to a higher power for protection and pardon,  and always remember where yu come from!

Thu, 02/02/2012 - 08:55 | 2119416 AnAnonymous
AnAnonymous's picture


In case you did not notice, the post you hijacked includes data showing pulverization.

Building a family unit in 3000 places dormitory, 20 people per room?

So funny.

Thu, 02/02/2012 - 06:11 | 2119310 Element
Element's picture

What I see in China and similar low paid but extremely productive countries, are states that are actively building a much better future, because they are much more closely familiar with real deprivation.

(I still think Chinese products are complete crap ... but only because they are)

What I see in the West are States actively destroying any chance of a plentiful and agreeable future because we have completely forgotten or have in almost all cases never know true deprivations.

I for one am going to very much enjoy watching this unfold because it's exactly the lesson the entire 'developed'-world needs in order to actually develop, and is the only thing that's going to make us fully wake-up to what insane fools we've been.

The best and most valuable lessons are also extremely cruel and totally uncompromising.

Deprivation and scarcity will deliver the necessary psychological substrate for a real-recovery to begin in the West.

Whether we do recover remains to be seen ... I'd give it 40 years or so.

Thu, 02/02/2012 - 08:53 | 2119412 AnAnonymous
AnAnonymous's picture

Ah, the cultural argument.

Sure, sure.

World has reached US citizens carrying capacity.

Too many US citizens, not enough Indians to keep the 19th century US golden age train rolling...

Sat, 02/04/2012 - 08:49 | 2126262 matrix2012
matrix2012's picture

Right Element, if one is born into this world within an abundant environment, how can he or she ever understand the true meaning of "deprivation"??

Being able to exchange for real stuffs only by simple mass printing (nation-wise) or living under various entitlements (for individuals)...why taking the hard ways like those unfortunate Third World slaves?

Just live beyond means till the last drop..until nobody to rob!


btw to be honest i do think the quality of the Chinese-made products vary in commensurating with the prices one pay... there are Q1 till Q5 grades (possibly).

From iEverything, Lenovo, Huawei....... till the all-$1-items :) just up to the price one pays! (you pay peanuts you get monkey :))


“You can ignore reality, but you can’t ignore the consequences of ignoring reality.” — Ayn Rand

Thu, 02/02/2012 - 01:48 | 2119101 He_Who Carried ...
He_Who Carried The Sun's picture

You know what, according to THAT headline, they just woke up... ;-)

Facing reality after such enormeous wet dreams for such a long time may be a

little harsh for them little liars, I guess...? Poor things, I mean really....!

The Red Cross is standing by...

Thu, 02/02/2012 - 05:13 | 2119278 Rogue Trooper
Rogue Trooper's picture

I find your 'Avatar' so comforting in such unpleasant and difficult times.

Not a 'pic' of a katoey is it?

Wed, 02/01/2012 - 17:52 | 2117851 TruthInSunshine
TruthInSunshine's picture
Revolutionary New Solution To Prevent Debt From Turning You Into An Indentured Servant (Fractional Reserve Bankers HATE THIS PROGRAM as it would reduce the number of debt slaves they're able to harvest):


IOUSA SNL "Don't buy things you can't afford"

Part II:

Don't Buy Stuff You Cannot Afford

Wed, 02/01/2012 - 17:56 | 2117876 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

There is no blood left in the turnip!!! Recovery of Greek bonds is soon to be 0%.

Wed, 02/01/2012 - 18:12 | 2117897 TruthInSunshine
TruthInSunshine's picture

Paul Krugman just tweeted that the 'Don't Buy Things You Can't Afford' series is not only dangerous, anti-American, anti-IMF, anti-World Bank, anti-U.N. and anti-NWO propoganda, but that it would imperil the global economy by encouraging more people to live within their means, thereby slowing growth, shrinking global debt/credit issuance, and that adopting the 'Don't Buy Shit You Can't Afford' main lesson would doom his 202 trillion USD Uranus Invasion of Earth Prevention Plan stimulus bill that he's proposed to Obama & Congress (supported by Bernanke & Geithner).

Wed, 02/01/2012 - 18:27 | 2118017 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

It will be easier when the Krugman economics take over to heat people in the winter. All of the Bennie bux will make great fireplace starters and fuel. Cotton burns quite well.

Wed, 02/01/2012 - 18:37 | 2118048 OldE_Ant
OldE_Ant's picture

lol.  Sounds like what is being done to anyone who dare short these markets.

"The Uranus Invasion Plan"

Gee may I have another 'master'.  I thought I had enough hard assets.  It looks like it's time to convert more fiat to hard.

It may look to people like the markets are flying high,  but everything is always great when falling off the cliff until ya hit the ground.  It's starting to looking like hyperinflation with a smattering of empty shelves coming to a supermarket near you courtesy of the wide open

FEDHOLE which is still open for business.

Clearly the Fed doesn't have a citizenry sentiment barometer because the more they do what they are doing the more people know it's all a sham, and it is only a matter of time now.  It'll be interesting to see how loud the sucking sound is when they start doing negative rates of return on bonds or better when interest in real bank accounts goes negative.  I think they want to screw over as many people as possible so when the whole thing collapses they can close banks, pass new 'emergency' laws that relieve people of firearms, gold, silver, food, water.  You want to know how GS, etc. are going to cover their PM shorts - at the point of a gun to all those that have purchased the physical.   Seems so easy.  Once the food runs out they can do the same thing on that as well.  Talk about a setup for massive systemic failure.  Just wait.  I predict saving will be anti-american, owning gold and silver and gardening will become 'terrorist acts'.  

LOL Don't buy things you can't afford.  I'll do one better.  Buy ONLY things that allow you to BUY LESS of other things you need, and start removing all the money you can from the system and convert to hard in hand assets, locally stored materials to produce water, food, heat, electricity, and of course what little security that can be had with guns and locally created militia.

Wed, 02/01/2012 - 18:55 | 2118118 RiverRoad
RiverRoad's picture

To Truth in Sunshine:

Don't buy Paul Krugman.

Wed, 02/01/2012 - 19:48 | 2118291 zelator
zelator's picture

How about 1 toz Krugerands?

Wed, 02/01/2012 - 23:47 | 2118867 RiverRoad
RiverRoad's picture


Thu, 02/02/2012 - 05:27 | 2119286 Rogue Trooper
Rogue Trooper's picture

Rumour has it EADS will lodge a WTO claim within 24 hours that they could do it for 201.898765665443 Trillion and change.

I'm confident that "O" will hold firm and say "Buy American".

Fu*k the cost we do not want to end up with a "Uranus Invasion of Earth Prevention Plan GAP".

LONG Lockheed-Martin & Boeing, etc

Wed, 02/01/2012 - 18:05 | 2117887 Sudden Debt
Sudden Debt's picture

And the fun figure facts:

60% OF ALL WORKING GREEKS IS EMPLOYED BY THE STATE!!! Which won't have any money to pay their wages in 3...2....1....


I hope the idiots in my country start to realize that our shit also already hit the fan. It just needs to come down.



Wed, 02/01/2012 - 18:18 | 2117973 EyeQ
EyeQ's picture

SuddenDebt - I think you meant 60% of Greeks with jobs are employed by the state - not necessarily "working Greeks".  Here in Canada we have a lot of Government employees (WAY TOO MANY) and they all make great salaries and amazing benefits, but many of them do not work very hard.  In fact, here in Ontario, our province is now called the Greece of Canada.

Wed, 02/01/2012 - 18:22 | 2117995 ucsbcanuck
ucsbcanuck's picture

No, that's Quebec - they have a 94% debt to GDP ratio. We're not far behind, followed by BC.

Wed, 02/01/2012 - 19:25 | 2118226 akak
akak's picture

That's abewt as bad as some US states, if not actually worse than most, eh?

Wed, 02/01/2012 - 22:12 | 2118629 TruthInSunshine
TruthInSunshine's picture

I heard that our benevolent U.S. government employs 70% of people who work in D.C.

I wouldn't be surprised if a full 30% of the people employed in Maryland & Virginia either work directly for the government or for feeding-off-the-taxpayer-teat government contractors.

Hell, 21 cents of every dollar in circulation in the U.S. economy is government program money/transfer payments.

Citizens Against Government Waste Homepage   Thursday, September 10, 2009, 5:41 AM

Talk about flushing tax money down the toilet: The National Park Service has built a single-seat outhouse in Pennsylvania for $1 million. That's right, a cool mil.


How does one toilet cost seven figures? Come on, we're talking about a government that once spent $900 for a hammer. Nothing butt (sorry) the best for us parkgoers, built by bureaucrats who still don't understand how hard the rest of us work for a buck.


Here's how they did it: Import slate from Vermont and put it together with custom stonework. Plant flowers with seeds that cost $700 a pound. To make the place snazzy, add windows and a porch. (A porch?) Use paint that costs $78 per gallon.


Extravagant as all that is, it's still just a fraction of the cost.


More than a dozen Park Service engineers and two architects designed the palatial privy for roughly $100,000. A supervisor, flown in from Denver, lived onsite for a year to oversee construction of the lush latrine. Cost of the outhouse overlord: $80,000.


Toss in union-like construction wages, costly approvals and inspections and lots of red tape from our own government -- to make sure the lavish lavatory is up to code -- and the price exceeds $1 million, according to an ABC News report.


This isn't the first seven-figure commode the government has built. There's another in Montana.


At least that one has four seats.

Thu, 02/02/2012 - 01:07 | 2119039 Freddie
Freddie's picture

I wouldn't be surprised if a full 30% of the people employed in Maryland & Virginia either work directly for the government or for feeding-off-the-taxpayer-teat government contractors.

I would bet the number is closer to 60% or more.

Wed, 02/01/2012 - 19:31 | 2118249 Desert Irish
Desert Irish's picture

Yea and the newfies have a surplus and and their employment issue is they can't find enough workers to fill jobs. WTF!!! who's laughing at Canada now.....

Wed, 02/01/2012 - 19:01 | 2118141 VelvetHog
VelvetHog's picture

QEye, could you provide a few numbers illustrating how many Gov. employees there are that don't work very hard?  It must be quite a few.......

Wed, 02/01/2012 - 18:01 | 2117895 Tristan Ludlow
Tristan Ludlow's picture

There is no such thing as poverty in the western world.  To use the term "absolute" only indicates they no longer have cell phones, TVs and refridgerators.  How beastly!  When they can no longer find food, that is when they will be in absolute poverty.

Wed, 02/01/2012 - 18:16 | 2117966 Sudden Debt
Sudden Debt's picture

and suddenly... your neighbour starts to look tasty!


Wed, 02/01/2012 - 20:59 | 2118481 xela2200
xela2200's picture

My neighbor is a hippie. I don't think that she would pass FDA approval.

Wed, 02/01/2012 - 23:26 | 2118821 Osmium
Osmium's picture

Eat you sir?  With a gammy leg?

Wed, 02/01/2012 - 23:32 | 2118828 johnnynaps
johnnynaps's picture

That's relative. I have a neighbor who is a stripper and the other one's daughter is damn near a dime!

Wed, 02/01/2012 - 20:22 | 2118371 Freegolder
Freegolder's picture

Spot on. At least in Europe they will not trach their currency to keep the charade going a few more (weeks?) years.

When the US goes (and the UK & Japan too), China too, it will be truly terrible to behold. Savers, pensioners: wiped out.

Wed, 02/01/2012 - 18:30 | 2118029 LongSoupLine
LongSoupLine's picture

They need a dictator...


They need iPads and Kardashians...(and perhaps a GM dealership to stuff like a twice baked potato).


Wed, 02/01/2012 - 19:35 | 2118206 LookingWithAmazement
LookingWithAmazement's picture

Today markets rallied because of the outlook of a Greek deal, which is a default. A massive relief rally. Yes, that's correct: markets want Greece to default. They love it. No total collapse, meltdown, crisis, crash, Armageddon, let alone Total Everything. Just relief, optimism, happiness. Greek default will be a non-event. Happy Summer 2012, with the euro.

Wed, 02/01/2012 - 20:06 | 2118338 zanza
zanza's picture

looking bullish

Wed, 02/01/2012 - 20:07 | 2118339 ilion
ilion's picture

Rumours flying around that in addition to Greek sh.t, we could have CHF and JPY inverventions any moment now.
These guys have nailed it before: 

Wed, 02/01/2012 - 22:12 | 2118661 TheFourthStooge-ing
TheFourthStooge-ing's picture

Fuck off, you smelly unwiped butthole. You're another sock puppet of the same shill that's been spamming that retarded armada markets site. Now you're just trying to hide your spamming with a URL redirect.


Wed, 02/01/2012 - 17:28 | 2117788 ACP
ACP's picture


Wed, 02/01/2012 - 18:10 | 2117940 lolmao500
lolmao500's picture

And of course the MSM will say that all of this can be avoided if they only bow and become's Germany's slaves forever.

Wed, 02/01/2012 - 20:23 | 2118373 UP Forester
UP Forester's picture

Do they have to wear leather and chains, or just lick boots in their skivvies?

Wed, 02/01/2012 - 20:39 | 2118430 lolmao500
lolmao500's picture

If we base ourselves on German porn, it's sure to be kinky. Really really kinky. And weird.

Wed, 02/01/2012 - 22:09 | 2118651 sun tzu
sun tzu's picture

Yeah look at Heidi Klum. First she had a kid with the old Italian geezer then she married that deformed freak. They are a strange bunch when it comes to sex

Thu, 02/02/2012 - 02:20 | 2119135 chump666
chump666's picture


i nearly died reading that...hilarious

Thu, 02/02/2012 - 05:33 | 2119291 Dave Thomas
Dave Thomas's picture

And they cant shut up in their porn either, all you hear is Ach, Oooch, Aaaahch Jaaaaa, Aaach! It's like someone's setting the actors bones for christ sake.

Wed, 02/01/2012 - 18:21 | 2117982 EyeQ
EyeQ's picture

If you recall the movie "300" they couldn't even afford shirts or armor - just a helmet, shield and a spear.  So things are a bit better in Greece today.

Wed, 02/01/2012 - 19:01 | 2118140 RiverRoad
RiverRoad's picture

Hey, those guys must've looked good with just a helmut, shield and a spear.....hope that shield was a big one.

Wed, 02/01/2012 - 17:30 | 2117791 tony bonn
tony bonn's picture

to greek people i urge you to default on your onerous debts which the cunning banksters like brer rabbit teased you into the briar thicket with a colony of debt tar babies...

destroy the banksters of the rockefeller-mic-yale-cia cabal who have tried to conquer you with debt...default default default....and learn to live more circumspectlly without the bondage of debt...

Wed, 02/01/2012 - 17:40 | 2117831 brewing
brewing's picture

it's only money...

Wed, 02/01/2012 - 17:47 | 2117855 agent default
agent default's picture

It is not money it is fiat paper representing nothing, printed at almost zero cost and lent out at an interest.  It is a scam, it is a Ponzi and it is a complete and utterly meaningless instrument.  Fiat currency is just a derivative with no underlying.  It is the ultimate fraud.

Thu, 02/02/2012 - 00:12 | 2118916 TruthInSunshine
TruthInSunshine's picture




1)  Create fiat using nothing more than an computer/ledger entry, backed by nothing of inherent value, that has legal monopoly recognition/status, to be the only 'legal tender' allowed, with government agencies ensuring continued monopoly status.

2)  Circulate such fiat via loaning it out,leveraging it up xxxx times/xxx% ??? (I don't how high the leverage ultimately goes, given derivatives/CDS, etc., but it's up there), charging interest upon it.

3) Successfully get nations, business entities and individuals to borrow said worthless fiat that was conjured from thin air, and pay interest, pledging their real, inherently valuable assets in exchange for said worthless fiat (i.e. meaning that their real, inherently valuable assets can be taken if the conditions that make it impossible for them to repay the worthless fiat are [intentionally] induced).

4) Set the rate of interest payable on the loans of fiat that was conjured from thin air, solely at their discretion.

5) Supply more of such fiat, or withdraw fiat, to/from the system, at their discretion, bringing about inflation or deflation.

6) During times of large scale loan defaults, on the repayment of the fiat that they conjured from thin air, backed by nothing of inherent value, seize the most valuable assets that exist on the planet, many of which mankind depends on for its very survival.

Wed, 02/01/2012 - 17:56 | 2117878 i root for that...
i root for that fat jersey governor's picture

joining the greek into the "absolute poverty" are the bears here betting against the market. house of pain!

Wed, 02/01/2012 - 20:51 | 2118464 Excursionist
Excursionist's picture

This narrative often propagated here is getting old...  cunning bankers are the root cause of Greece's ills?  Spare me.

If a lion eats a zebra, do you get angry with the lion?  Or do you get angry with the zookeeper who fell asleep on the job and let it happen?  I'll let you figure out who's who in that analogy.

Bankers do what they do.  Leave 'em alone - they're just following their highly incentivized animal instincts.  If you want to play the blame game, then look at the typical Greek citizen, either blissfullly ignorant of history or truly determined to prove false that socialism works until you run out of other people's money.

Just as here in the U.S., the ultimate blame lies with the tuned out, ignorant people willing to go along with the corrupt status quo.

Wed, 02/01/2012 - 17:31 | 2117793 Mongo
Mongo's picture

They need more protest dogs...

Wed, 02/01/2012 - 20:30 | 2118403 UP Forester
UP Forester's picture

This guy can't do it himself:

Wed, 02/01/2012 - 17:32 | 2117797 A Man without Q...
A Man without Qualities's picture

It's hard for the economy to pick up when EVERYONE has moved their cash offshore...

Wed, 02/01/2012 - 17:33 | 2117799 Debugas
Debugas's picture

Greece is still much better than Latvia where government provides temporary jobs for unemployed at 100 LVL (that is $186) per month !!!

Wed, 02/01/2012 - 19:03 | 2118149 RiverRoad
RiverRoad's picture

Busy work.  Whatever does it.

Wed, 02/01/2012 - 17:33 | 2117803 Manthong
Manthong's picture

Well, my Hellenic friends.. you won't be alone in your poverty..

Soon we Americans will be saying "We're all Greek'ed, now."

Wed, 02/01/2012 - 21:23 | 2118550 King_of_simpletons
King_of_simpletons's picture

The sheep here better "Grease" up and assume the bending-over position. Watch this federal reserve instructional video for guidance:

Wed, 02/01/2012 - 17:35 | 2117804 The Big Ching-aso
The Big Ching-aso's picture



It sux to be poor.   It really sux to be poor, Greek, and up Euro shit creek.

Wed, 02/01/2012 - 17:33 | 2117805 moonman
moonman's picture

Once I have nothing, I owe nothing

Wed, 02/01/2012 - 18:06 | 2117916 dark pools of soros
dark pools of soros's picture

deficiency judgements to the grave!!!!

Wed, 02/01/2012 - 17:36 | 2117806 Dr. Engali
Dr. Engali's picture

How do a once proud civilization become a such welfare basket case ? Oh we are talking about Greece I thought this was a post about the U. S.

Wed, 02/01/2012 - 17:36 | 2117817 Big Corked Boots
Big Corked Boots's picture

They hired Goldman Sachs as consultants?

Wed, 02/01/2012 - 17:37 | 2117824 Eally Ucked
Eally Ucked's picture

The difference is they can not print

Wed, 02/01/2012 - 17:41 | 2117833 Dr. Engali
Dr. Engali's picture

Printing doesn't make a nation rich.

Wed, 02/01/2012 - 17:53 | 2117869 A Lunatic
A Lunatic's picture

Correct. Spending does.

Wed, 02/01/2012 - 18:24 | 2118002 ucsbcanuck
ucsbcanuck's picture

Correction. Spending without driving yourself into debt does.

Wed, 02/01/2012 - 17:55 | 2117875 Eally Ucked
Eally Ucked's picture

For a while it can, just look at US

Wed, 02/01/2012 - 17:34 | 2117808 nonny mouse
nonny mouse's picture

Returning to the feudal age is a step in the right direction. Hopefully we will continue going back.

Back in the iron age we used to have a lot more free time and everybody had a job because everybody had to help find food.

We didn't have to worry about global warming or a European superstate telling us what to do either. Best of all - there were no banks. The only down side is no internet, so no!


Wed, 02/01/2012 - 18:10 | 2117944 CrazyCooter
CrazyCooter's picture

These three articles are written by an Alaskan historian ... and document life in the early gold rush days ...

Just so folks can compare their daily life challenges to those of about 120 years ago in the frontier ...



Wed, 02/01/2012 - 19:07 | 2118165 RiverRoad
RiverRoad's picture

No penicillin either.

Thu, 02/02/2012 - 01:51 | 2119107 Treason Season
Treason Season's picture

St. John's Wort

Wed, 02/01/2012 - 17:34 | 2117809 wandstrasse
wandstrasse's picture

There's no business like bank business, and bank business is soooo...

Wed, 02/01/2012 - 17:35 | 2117811 Big Corked Boots
Big Corked Boots's picture

Funny how Iceland is not in "absolute poverty". I wonder why...

Wed, 02/01/2012 - 17:35 | 2117812 CvlDobd
CvlDobd's picture

I feel stupid but I can't for the life of me remember what GP represents.


Dumb Thomson User


Wed, 02/01/2012 - 18:03 | 2117885 Schmuck Raker
Schmuck Raker's picture

Sounds like Greek employment.

"...Greek employment figures per the IMF, show  that 4.156MM people are employed."

Don't worry, it's Humpday.

Wed, 02/01/2012 - 18:02 | 2117899 JohnG
JohnG's picture

historical price graph - graph price - or graph any other graphable function

Wed, 02/01/2012 - 17:36 | 2117815 falga
falga's picture

Greeks will move cash back to Greece when everything in Greece will be cheap. The only way this happens is when you default to avoid total impoverishment and rebuilt from a much lower level. Look at Argentina today and they defaulted on the world!

Wed, 02/01/2012 - 17:36 | 2117818 Fyodor Does DF Ski
Fyodor Does DF Ski's picture

"When did the future change from a promise to a threat?" Chuck Palahnuik

Wed, 02/01/2012 - 17:37 | 2117823 wretch
wretch's picture


Wed, 02/01/2012 - 17:36 | 2117819 goldencrumbs
goldencrumbs's picture

This is tragic - they love their meat so much :(

Wed, 02/01/2012 - 17:38 | 2117821 Random_Robert
Random_Robert's picture

All your gyro are belong to us,  skilas <-- (the closest I could get to "bitchez" in Greek).


Wed, 02/01/2012 - 18:56 | 2118123 Beard of Zeus
Beard of Zeus's picture



Should be:

skilaz <---------------- with a "z"


Wed, 02/01/2012 - 19:05 | 2118159 QuietCorday
QuietCorday's picture

I'd go for "skeelez" (??????: plural of female dog, aka 'bitch').


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