Guest Post: Be Careful What You Vote For

Tyler Durden's picture

Submitted by Clive Hale author of View from the Bridge

Be Careful What You Vote For

The voters have spoken; well 65% of them in Greece and 80% in France; a lot better than the mayoral junket in London. In none of the locations were the voters given a candidate worthy of the name. In France the “anyone but Sarkozy” vote squeezed in at 51.6% of the valid votes cast; hardly a resounding victory. Nearly 6% of the eligible voters turned up but spoiled their ballot papers – in effect saying “what choice have you given me?” So only 38% of France went for hollandaise sauce.

How they will be able to afford this (g)astronomic libation to the Gods of “Equalité” was not sufficiently discussed other than the mob appeal of taxing the rich bastards, who no doubt will have already arranged their affairs to pay far less than the 75% imposition. It reminds me of Denis Healey, before he himself became part of the landed gentry, saying he would tax the rich “until the pips squeak”; thus begetting the UK’s supremely efficient tax avoidance industry.

In Greece it was even more divisive. With 32 parties standing they have three days to cobble together the Big Fat Raving Monster Euro Moussaka coalition which will be in charge of ouzo production. Growth in this part of the economy is essential as there won’t be any anywhere else and as it slowly dawns on the rag bag of ultra left and right that there is no more money, “austerity”, as defined by the Bundeskanzlerin, will seem like a golden opportunity missed; so pass the bottle Spyros oblivion beckons…

All this talk of promoting growth rather than austerity misses the point entirely. Who is going to give the Greeks, or the French for that matter, the amounts of money they would need to fill the almighty hole in which they find themselves along with most of the rest of Europe, the UK and dare I say it the US? If your answer involves a central bank don’t pass Go and head straight for jail which is where the banksters and their politico/media fan club should all be anyway.

It is quite extraordinary that the propaganda machine allows people to vote against austerity but yet somehow to think that the answer lies within a single currency regime run by a group of deluded politicians who think they understand the laws of economics, which, by the way, aren’t working for anyone right now and arguably never have. It’s not just a “dismal science” it is not even a science at all!

In the days to come the pressure on the new governments from the axis powers in Brussels, Frankfurt and Berlin to toe the line will be hard for them to resist. The voters may not have understood entirely what they were voting for nor how they would achieve it, but they will be less than happy to find their democratic voice silenced.

History doesn’t repeat itself but it does rhyme and Harry Truman understood the issues we face when he said, “Experience has shown how deeply the seeds of war are planted by economic rivalry and social injustice.” Be careful what you vote for

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Desert Irish's picture

Bastille Day is celebrating the liberation of a lunatic asylum......nothings changed

The Alarmist's picture

Where's John Law when you need him?

ACP's picture

I just wonder how much socialism France will take in the bunghole before the voters swing to the far right and vote for Le Pen. Either that or business leaves the country, it collapses and the banks take power.

gangland's picture

when they figure out that hollande is a neoliberal technocrat bank bitch socialist in party name only.  

hollande has no mandate with a 4% margin, the chancellor and the troika have all the leverage.


hollande's roots are with the christian dems, the conservative right, hardly socialist radicals.


hollande's positions match sarko almost 100% , save perhaps, PERHAPS (we shall see), on nukes.

leaving iraq is a chimera chumming the waters for the muppets. france lost in afpak anyway.

fonestar's picture

I can't stand all of these complete MORONS on that side of the pond and this side of the pond as well.  Do people not see that it was a SOCIALIST/WELFARE STATE that failed them?  That failed all of us? I am totally embarassed as a member of generation X.5/Y that we could fall for the same crap over and over and over and over and over...  And the media!  They treat these people as if they are brilliant?  As if they are revolutionary?  As if they have ONE SINGLE IDEA in their whole head?  These people have been spewing the same crap now for over 150 YEARS and failing just as long!!

And yes, you are right... the only logical conclusion is to vote in the exact opposite extreme for leaders who really just believe in the exact same failed economic model!  When did schizoid-reactionarianism become the new norm????  FUCK ALL OF US!!

Pseudolus's picture

+1 for the avatar

for an old bitch gone in the teeth....

Marco's picture

Then there is Sweden ...

Socialism vs. libertarianism is a completely orthogonal issue from good governance, bad governance can corrupt both ... good governance can almost certainly make both sustainable, regardless of which is optimal.

We are suffering from Crony capitalism first and foremost ... as long as all you can do is shout how wrong headed the honest people are who disagree with you the fundamental problems (campaign financing, lobbying, term limits, revolving doors) won't be fixed.

The only solution is if the libertarians and the progressives get together and say "what can we agree on? Lets do that for 4 years and leave the rest as the status quo". Otherwise the crony capitalists will continue to rule the roost ... they give the rich wealth and the poor bread and circuses while the ship goes down (which while not great is in our mind still better than what we think will be the outcome of libertarian rule ... social darwinism combined with a deflationary spiral).

sitenine's picture

Speaking of change -

this is the best bit I've ever seen Schiff do - LMFAO good.

gangland's picture

get out of the euro, cut out the banks, become a sovereign again, issue fiat, repudiate debt, be free.


"A system relying solely on taxation and direct monetary crediting, and that eschews public borrowing altogether, would be much more transparent."



Manthong's picture

OT, but big news..

Conclusive proof that Michael Moore is singularly responsible for modern-day global warming.

youngman's picture

Oh but they will tax the rich...but they will leave....and in 3 years France will be a hell hole......well I never liked it anyway...and they never liked me revoir fuckers

Joe The Plumber's picture

As they descend further into the socialist shithole and run out of other peoPles money they will continue to blame banks. Sure the banks conned these socialist countries into taking on too much debt but the old saying is true. You cannot defraud an ethical man. The ethical man is not into gaming the system whether it be to get something for nothing from the government or help a princess get her money out of nigeria

Rogier's picture

Yep, Euro-politics sucks. Big time. But how are them US politics working for you over there in The Colonies?

PartysOver's picture

Only hope is in November.  No change and we bend over.  No lube.  Grin and say thank you.

Joe The Plumber's picture

I lurk at the daily kos occasionally to see what they think of the european debate. They are typical leftists and think monetization of sovereign bonds is a great solution and they are angry at germany for being intransigent. They dont understand that they are essentially asking germany to pay for all the spending projects that mediterranean bordering countries want.

Do those daily kos people and european socialists not realize how silly they look. It is like the petulant adolescent who blew his allowance and is now angry that mommy wont sacrifice and work overtime to give him more money to blow

Joe The Plumber's picture

Real growth comes from structural reforms and improved productivity. Merkel is correct on that one. And germany will not disproportionately subsidize the mediterranean bordering countries unless they see a real commitment to doing real structural reform. Why should germans permanently subsidize the others? If the solution is to monetize the debt and kick the can down the road the germans have every right to refuse to Play the sucker

Bag Of Meat's picture

Because the Mediteranean deficitits and strong euro are on their benefit , and, partly, their creation.

BlackVoid's picture

There is no other solution, but to monetize. Or collapse.

QE to infinity. Everyone will pay for this via inflation.

dizzyfingers's picture

Joe Plumber:

Daily Kos is a Maine organization, where drug-taking illigitimate-kid-spewing non workers are in the majority and get state-enforced handouts and medical coverage from the working slaves. Avoid Maine. Avoid Daily Kos.

GernB's picture

The governments and Euroleaders have no power which the people of the Eurozones various countries did not give to them. In a nutshell, this is the problem with the whole line of reasoning in this article. The peoples of these countries have voted themselves into dependence on someone else for their prospority. And as Margret Thatcher once said: the problem with socialism is you eventually run out of other peoples money. Well, they are now out of other peoples money. No amount of voting wiill create a magic sugar daddy willing to give them money with no reasonable plan to pay it back. The very dependence they voted for is the root of the necessity for austerity. When nobody is foolish enough to lend them money then where exactly is the money going to come from. IMHO they would be best to say: "listen socialism isn't working lets set the workers free rather than continue to be debt slaves to state."

Joe The Plumber's picture

Monetization is the last refuge of the scoundrel

Dr. Engali's picture

You are right but that won't keep them from trying over, and over, and over again. We need to pull all of our bases out of Europe and let them spend a little money on protecting themselves. They couldn't blow all this money on their social programs if it wasn't for our military providing defense.

lolmao500's picture

Be careful what you DON'T vote for...

In surprise move, Netanyahu, Mofaz agree to form unity government, cancel early elections

PartysOver's picture

Putting Obama in a box.  Gotta love it!

Larry Dallas's picture

Harry Truman was also not speaking to a apathetic, pre-Kardashian, state who understood what he was talking about.They could think.

Today we have folks who socially influenced who have no idea who the veepee of the US is. And Jay Leno capitalizes off of it. Any word over 3 syllables and 85% of Americans don't know what it means. As a society, we are stupid, fat and entitled. Its embarrassing.

No one has any skin in the game and everyone is on the take. Vietnam was the last generation that truly had any skin in the game.

Greece is now in a political situation that will make it very hard to do the things that are needed to try to save what is left of even the façade of a potential to stay in the Euro. It is now less likely that Greece will be able to do all of the things required and in time it will very likely be forced out of the Euro.

France got what they deserved because who the fuck wants austerity. Just pass the bill to the next generation. If I'm a Boomer and you promise to steal from Peter to hpay Paul, you'll get voted in. This is what Obama is trying to do.

Most sitting governments in Europe have already fallen other then Germany, and the message to politicians is clear. If you do what is needed to save the Euro and get control of the deficits, you will be voted out of office.

Politicians being weak and unprincipled as a group, will fold.

October could prove to be a very ugly month for the markets and the world. Add to that, the end of the tax cuts and the beginning of sequester at December 31. Mark your calendar for October. Get hedged. Be ready for anything.

Dr. Engali's picture

"Most sitting governments in Europe have already fallen other then Germany, and the message to politicians is clear. If you do what is needed to save the Euro and get control of the deficits, you will be voted out of office."

I disagree with that statement. Governments aren't trying to get the deficits under control. They are just trying to shuffle the debt someplace else do they can continue to spend.

Treason Season's picture

"My favorite cultural trainwreck, the Jay Leno Show." Bill Hicks

The Axe's picture

who fucking cares anymore...its a joke....the Japs just come right out a buy ETF's in the market to keep their ponzi alive....the entire world financial market is just a lie...not even close to a free market...just a scam...

thatonekid13's picture

Would you like some Francois Hollandaise sauce on that free lunch???

Westcoastliberal's picture

They'll do the same thing Iceland did except on a much bigger scale.  If I were a bankster in either Greece or France I'd be getting the hell out of Dodge about now.

f16hoser's picture

Meet the New Boss in France (same as the old boss):

Two heads of the same monster (Goldman Sachs / Rothschilds)


Treason Season's picture

IMHO If you're reading this Tyler you could do worse reposting Paul Watson's article pointing out Hollande's Bilderberg and Mason connections.

AE911Truth's picture

I wish I could vote. Application Denied!
Verify Failure!

Hundreds of verify failures.

Is there a story here?

Joebloinvestor's picture

I expect more nationalization of brick and mortar anything before the collapse.

Will Germany throw up it's hands and walk away?

The ECB will be forced to print and like mad.

Yen Cross's picture

 Those Europeans kill me. No to Austerity (vs)  Tax Me to Hell...    I'll take some "rocks in a hard place!"

General Debility's picture

Nothing wrong with holes. The best people in the world end up in them. Stars disappear into Black ones. Alice had a tea party down one. All sorts of nobel creatures live in them.

The worst hole is the hole between many people's ears. That is fine as long as they do not try and run things.

As you can see, I am doing a course in optimism.

Yen Cross's picture

+1  If it's any consolation? Buy the dip in ($ /£) !  You won't regret it. 

Sandmann's picture

"he would tax the rich “until the pips squeak”; thus begetting the UK’s supremely efficient tax avoidance industry."


He NEVER said that. You are thinking of Sir Eric Geddes over the Versailles Treaty "We shall squeeze the German lemon until the pips squeak"

Denis Healey said: "There will be howls of anguish fromt he rich"      in another context he said ""squeeze property speculators until the pips squeak"

February 1974 was not a pleasant time after Heath brought the country onto a 3-day week with 25% inflation and power cuts - living through that period was not particularly pleasant.....having Cameron take it all back there makes one see him as Heath Mk II





indygo55's picture

How come everyone here is "new"?

Yen Cross's picture

 I vote/ SNB had better make a move or my buy orders under 1.20 will offset my sell orders from December 2011!

  Anyone on my page? The barrier is toast, and the market is long CHF underneath! The BoS is just waiting for the market to get long ( CHF)! Just like last time! 2010...  Then they can sell (chf) against Euro/USD!

  That's ok, I'll just add!

crazyivan5-0's picture

Of even greater and more "local" concern is that the US has/is: A) been feeding the Eurozone via the IMF in very, very large quantities for too long and. much unbeknowst to the citizenry, B) by way of the Obama administration, an especially ardent supporter of this Socialist/Fascist style of government, C) absolutely destined to follow this identical path sooner, rather than later.

We have become a country of entitled, "what is the government going to do for me?", self-absorbed, weasels...just as we have clearly seen show up at the polls in Greece and France. We have no more interest in austerity than they do and, Obama will promise his constituents many things..."hope", "change" but, believe me, belt-tightening and pain or, anything that has to do with reality or, responsibility will NEVER be a part of the speech.

I wouldn't much count on Romneyt for it, either.

Sandmann's picture

Forget the IMF, the US has been lending via the Fed and that is far bigger. It has become an example of Globalisation - you cannot allow a Domino to fall. Remember The Domino Theory in Vietnam ? Well now they have brought you the Genetically-Modified Version - the US is now vulnerable to a Greek collapse and Greece is just a small taste of what China looks like. Why do you think the Communist Party nabobs are buying Real Assets in the West to shift their portfolios like any Third World kleptomaniacs. Is China any different from Marcos in the Philippines ?

There is massive portfolio adjustment going on - the Rich are shifting to Offshore (ie London) and leaving the Middle Class to pay the bills or be eaten by the Poor

q99x2's picture

How bout we start tomorrow to have the banksters arrested. Each day that passes the more military might they build against the masses.

I find it very interesting that within a year or so large numbers of people around the world are realizing that the banksters are the real enemies of humankind.

The longer it takes to begin prosecution the more of us that are going to die.

Maybe like a mega huge march on DC could stop it. Whatever is going to be done it better happen quickly.

Definitely don't want to wait until they pull the plug.

This buying into the markets by central banks is a real crime and should be proof to everyone that the banksters have declared war against democracy.

Time for amygdala meditaion.

Sandmann's picture

Certainly a better idea that what passes for policy now....


1) Taxpayers fund Banks with cheap credit

2) Banks extort money from customers with high rates and harsh terms

3) Banks say too much spending on Health, Education etc - Privatise

4) Banks create subs to finance Privatisation and issue Securitised Debt

5) Citizenry born into Debt Servitude and lives on Pay As You Go Bank Loans



writingsonthewall's picture

Another day - another confused analyst.


Austerity doesn't work

Borrowing to fund growth doesn't work

conclusion - capitalism doesn't work.


Better find a new way quick! - stop mourning the death of capitalism and get your thinking caps on.


P.s. - going back - is not going forward. Don't think restoring free market capitalism / and or gold standards will prevent this happening all over again.

GeezerGeek's picture

"Austerity doesn't work."

Translation: living within one's means is too difficult, so let's borrow some more money. Our grandkids can pay it back.

"Borrowing to fund growth doesn't work."

Correction: Government borrowing to fund government-directed growth doesn't work. That's because government is clueless about the preferences of consumers. 

"Conclusion - capitalism doesn't work."

Correction: Crony capitalism (aka fascism/corporatism/progressivism/communism) doesn't work, at least not for the benefit of the average person. Only the cronies get the benefits. Of course this is not truly capitalism, but by misusing words like capitalism it is easy to denigrate the underlying principles.

As for the thoughts expressed in the postscript, I actually agree. Going back to free market capitalism and sound money will not prevent this (whatever this is) from happening again. Humanity is totally depraved and some will always try to exert excessive control over others. What might work, for a time at least, is returning to Constitutional government and enforcing the rule of law. That is a needed precursor for free markets and sound money. Of course, unless people are willing to fight for those liberties even the Constitution is useless.