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Guest Post: The Experiment Has Failed. Are You Ready?

Tyler Durden's picture


From Simon Black of Sovereign Man

The Experiment Has Failed. Are You Ready?

After about an hour’s worth of air traffic congestion delays around JFK airport, I finally departed New York City yesterday evening en route for Vilnius, Lithuania… one of my favorite inconspicuous corners of Europe.

The route took me through Helsinki, Finland for a brief connection, and I was on the ground long enough to witness something truly bizarre: a complete and utter lack of people.

I could practically count on two hands the number of passengers milling around the airport this morning during peak business hours… it was almost something out of a zombie movie.

Ordinarily I would have seen hundreds, thousands of people… and I have in the past as I’ve traversed this route many times before. And no, today was not a holiday.

Helsinki’s airport functions as a major transfer point, especially for European business travelers criss-crossing the continent or flying to Asia, which makes airport traffic an interesting proxy on the European economy (though not necessarily a reflection of Finland’s).

While a single example is not enough data to draw any significant conclusions, I mentally filed the observation as another snapshot of Europe’s deteriorating economic situation.

It reinforces what I observed here several months ago when I was last on the continent in April; it was as if a dark cloud was hanging overhead, and the general mood was absolutely sour. People seemed to be capitulating all hope and starting to make peace with the fact that their economic futures have been squandered by a stupid experiment.

Of course, I’m referring specifically to the ‘euro experiment’… however the euro is merely a symptom of a much larger experiment– that of fiat currency.

It wasn’t all that long ago that money was actually made of something scarce– a real asset that couldn’t be conjured at will by an appointed bureaucrat.

In time, money supplies grew to be controlled by governments and banking cartels in the form of worthless pieces of paper. Since then, it’s devolved further to strings of bits in a giant database; our money supply is nearly all digital.

As my friend Tim Price characterizes it, what passes as ‘money’ today is merely an abstraction of an abstraction of the real thing.

The euro experiment was merely a commingling of 17 different national fiat experiments… albeit a remarkably stupid one.

Under the normal fiat game, a country would at least have to stand on its own two feet and con(vince) the market that its particular brand of monopoly money was sound.

With the euro, even the trashiest economies in Europe were able to pass off Germany’s credibility as their own. And now, finally, after more than a decade, the market is calling that ridiculous bluff.

Spanish bond yields have risen to a euro-era record, well north of 7%. Italian bond yields are 6%. The talking heads on financial news are going bonkers… nobody can fathom these countries staying afloat with interest rates being so ‘high’. And they’re right.

What’s funny is that the 20-year average of Italian 10-year bond yields since 1993 is 5.9%. They’re currently priced at 6.06%. Italian bond yields aren’t spiking, they’re just reverting to the mean. The real spike hasn’t happened yet.

Italy is in such dismal shape that having to borrow funds at ‘average’ rates is going to push it into insolvency… the government can only limp along if it can borrow at absurdly low rates that don’t even keep pace with inflation.

Perhaps more than anything, this shows how truly broken the system has become… and what a colossal failure the experiment has been.

Of course, before things completely break down, they’ll resort to the same old tactics that bankrupt governments have relied on in the past–outright confiscation of wealth, capital controls, and financial repression.

It’s already happening across the continent, in fact.

In Greece, the government is helping itself to people’s savings at will, in their sole discretion… and forcing businesses to ‘prove’ the tax purity of their funds.

In Italy, the government has colluded with several banks (like BNI) to freeze customers out of their accounts with no warning or explanation.

ATM limits are being imposed at many banks across the continent, and Euro leaders are openly discussing more severe controls to stem potential capital flight.

The conclusion to draw from all of this is clear: finance the government, save the banks, screw the people. This reality, coming soon to a western civilization near you.


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Mon, 06/18/2012 - 15:03 | 2537027 LULZBank
LULZBank's picture

Second passport Bitchezz!!!

Mon, 06/18/2012 - 15:04 | 2537030 Silver Bug
Silver Bug's picture

The experiment created a monster. Time to put it down.

Mon, 06/18/2012 - 15:06 | 2537038 Uncle Remus
Uncle Remus's picture


Mon, 06/18/2012 - 15:08 | 2537046 SilverTree
SilverTree's picture

champagne [silver] supernova in the sky

Mon, 06/18/2012 - 15:10 | 2537055 Popo
Popo's picture

Simon Black:  The man who discovered "other countries".     


Mon, 06/18/2012 - 15:30 | 2537101 The Big Ching-aso
The Big Ching-aso's picture



Maybe the observation is telling him something about galavanting around like he's Branson on vacay.   Like I better keep my ass away from unusually empty airports during economic upheavals?  Kinda reminds me of right after an 9.0 earthquake 1,000 miles away if you stand on the beach and watch the unexpected oddity of the tide going out at about 70 mph then just maybe it's time to head for higher ground.   Well ya know observational genius comes in many forms.  Some of it even as common sense.

Mon, 06/18/2012 - 15:33 | 2537125 XitSam
XitSam's picture

Simon selects evidence to make his point.  Note he does not report on the at least one other airport in Europe he used.

Mon, 06/18/2012 - 15:43 | 2537146 Marginal Call
Marginal Call's picture

I'm having a hard time deciding between Simon, or Pheonix capital.  Trivial reporting? Check.  First had anecdotal evidence=mega trend?  Check.  Pitching free reports on ZH?


Tough call. 

Mon, 06/18/2012 - 15:45 | 2537154 mcguire
mcguire's picture

agreed.  what the hell... at least pull some data on finland air traffic for our edification.  

Mon, 06/18/2012 - 15:51 | 2537181 kito
kito's picture

poor simon, nobody told him he was in the old terminal, which they closed a while ago. the new shiny one was brimming with thousands of people..............................

Mon, 06/18/2012 - 16:37 | 2537327 The Big Ching-aso
The Big Ching-aso's picture



Come 2 think of it if he's gonna be flying anywhere right now shouldn't it be 2 his 1,500 acre survival farm in phuckin Chile?

Mon, 06/18/2012 - 17:11 | 2537452 AldousHuxley
AldousHuxley's picture

Executive coach: 'Finance is an amoral world, bordering on the immoral'

A psychologist compares the 'twisted minds' of some executives to those of paedophiles he has tried to treat in the past

"Mid-30s is also when people are just before their mid-life crisis. They have more or less found out who they are, they can sort of see the limit of their potential, and it leads to disenchantment, disillusionment. 'I will not become the next Richard Branson', they realise. "At the same time they see that all good intentions aside, the world is tough place, and you need to be tough to survive and succeed. This is the age when you see people suddenly become serious. They have lost their innocence.


How so many brilliant, arrogant, super-talented young people get abused, sucked dry, burned out and then tossed aside by corporations and banks. In the early days of capitalism it seems the game was to exploit the less gifted; miners, factory workers etc. Today it's about taking advantage of talent. People are used, then discarded. Especially these days with the crisis. Fear rules supreme. You can get fired any moment, five minutes and you're gone.


"For psychologists like me the world of finance is very interesting, if only in purely clinical terms. You're a CEO and you pay yourself £8m. Now, look at the kind of organisation you need to put in place in order to make that amount … It's almost dirty.

"It gets more interesting still when your company has failed on a range of issues, and at the end of the year you still pay yourself those £8m. There's an outcry but you say: 'it's in my contract'. Now, take a step back, how has that £8m become so important to you that you can't even see why you shouldn't get them? Apparently your need for the money is so strong you stop registering the anger you provoke.

"Those CEOs and managing directors at banks with their millions … They deserve our pity, really. They are the victims of their own twisted minds. And it will bring them down. Whether you are a paedophile or pervert or control freak or psychopath; sooner or later a twisted mind will turn on itself.


amoral bordering on the immoral


"It's almost a perversion. The CEOs such as Fred Goodwin and Jamie Dimon and the like. They present themselves as to the outside world as posh and erudite and sophisticated; as supermen. But they are just like you and me, with similar needs and fears. We shouldn't fall for their spiel. .......they are not worth millions

Mon, 06/18/2012 - 20:02 | 2537860 Colombian Gringo
Colombian Gringo's picture

I think a noose is a more appropriate bonus for most of the bankster CEO's. I suggest putting it to shareholder vote and see if the majority would  give them millions or hang them. 

Mon, 06/18/2012 - 22:42 | 2538269 adeptish
adeptish's picture

They could be worth millions.

Forget the noose, such a waste.

Suggestion. Upon conviction the guilty party is assessed by 3 independant organ harvesting "bidders of interest" who have themselves submitted the 3 highest bids in an open process. Clearly the bidders would account for age, health and probability of matching.

The highest bid would surely make maximum use of the "guilty party", obviously the heart would be last. The irony.

Who the proceeds would go to would be the tough call.

I visualise a game show format. Celebrity organs.

I'll buy that for a dollar...

Tue, 06/19/2012 - 06:40 | 2538803 Papasmurf
Papasmurf's picture

Xenotransplants are problematic, so these will have low value.

Mon, 06/18/2012 - 16:50 | 2537379 BeetleBailey
BeetleBailey's picture

I've been to Helsinki airport - 4 times. Each time, it was near empty. The new terminal.

But hey, it's fucking Helsinki.

The babes were hot in the kiosks. The men wore funny glasses and shoes. All had Nokia phones growing out of their ears.

The surrounding area off the airport looked like a big piece of Melba toast.

"Go To Hell-sinki!"

Mon, 06/18/2012 - 18:33 | 2537681 Will To Live
Will To Live's picture

He didn't tell us it was 4AM Helsinki time.

Mon, 06/18/2012 - 22:48 | 2538286 Hive Raid
Hive Raid's picture

"en route for Vilnius, Lithuania… one of my favorite inconspicuous corners of Europe... where I can sodomize adolescent gentile boys for sheckels on the dollar. *Jew cackle*"

--Simon Black, the Globe Trotting Jew

Tue, 06/19/2012 - 00:55 | 2538584 Terminus C
Terminus C's picture

Seriously?  You are one fucked up human being...

Classic ad hominem character assassination, no facts, just brutal accusations...  Take your shit somewhere else.

Mon, 06/18/2012 - 15:43 | 2537147 Colombian Gringo
Colombian Gringo's picture

Whatever. He makes this point clear that he speaks of one airport.  And yah, it is easier to get flights than before throughout Europe.

Mon, 06/18/2012 - 17:44 | 2537550 mkkby
mkkby's picture

He makes one brief comment about an airport, then fills the pages with crap everyone's known for the past year. I thought he was going to tell us something interesting about Finland or Latvia.

Simon, you truly are useless.  Go peddle your newsletters on a street corner somewhere in your favorite South American barrio.

Mon, 06/18/2012 - 15:38 | 2537131 Precious
Precious's picture

Sovereign Man --- Maybe you were in the Air TSA terminal (Touch Some Anatomy)?

Mon, 06/18/2012 - 17:33 | 2537521 westboundnup
westboundnup's picture

For what it's worth, I know someone who traveled to Madrid on business within the last month.  He met a business partner for dinner at one of the most respected restaurants in the city.  As their meals were served, they looked around and realized they were the only patrons.  A handful of other patrons filtered in as they finished their meals.  When they left there were only 5 other people in the restaurant.

Tue, 06/19/2012 - 01:08 | 2538602 imaginalis
imaginalis's picture

The Spanish start eating really late.

Tue, 06/19/2012 - 02:09 | 2538646 i-dog
i-dog's picture

They were probably eating at an American dinner time. You'd be lucky to find a Spanish restaurant even open before 9pm!

I've arrived at a Spanish club at 2am and they were still just setting up the music system!

Tue, 06/19/2012 - 02:46 | 2538676 Freddie
Freddie's picture

I am seeing this sh*t in the USA.  Restaurants and stores pretty much empty. Anything to do with bedding or furniture is going out of business.  Even places like Taco Bell and McDonalds (gag) are fairly empty even though they take WIC cards aka Obama bux.

I have avoided airports because I don't want the Coach Sandusky routine from TSA.

Mon, 06/18/2012 - 15:50 | 2537170 ArgentoFisico
ArgentoFisico's picture

SilverTree, don't you think silver will go down like in 2008 before taking off to the sky?

Mon, 06/18/2012 - 16:24 | 2537306 HungrySeagull
HungrySeagull's picture

Silver will drop some more.

But you will wake up one day and curse the missed stacking opportunity.

Mon, 06/18/2012 - 18:28 | 2537660 ArgentoFisico
ArgentoFisico's picture

Don't think so my dear seagull... Argento Fisico is italian for Phisical Silver, and this is my blog:

: )

Mon, 06/18/2012 - 18:30 | 2537674 ArgentoFisico
ArgentoFisico's picture

Hmmmm .. I'd love to buy some more at 15 €/oz!

Mon, 06/18/2012 - 22:45 | 2538279 Hurdy Gurdy Man
Hurdy Gurdy Man's picture

I have heard that the price of silver does not corroborate to gold because there is a lot of silver in other forms that people will run to melt down and buffer anything that would begin to look like scarcity.  So Silver, though the point of entry is lower, will not keep parity with gold -- not just because the market-makers control the price, but because of the floods that ballast it.  What do you think? Have you heard anytihng similar?

Mon, 06/18/2012 - 15:09 | 2537047 Colombian Gringo
Colombian Gringo's picture

Stinky Europeans deserve to get the Rothschild dick up their collective asses for punishment of their stupidity.

Mon, 06/18/2012 - 15:16 | 2537073 Ima anal sphincter
Ima anal sphincter's picture

Uh....... The whole damn world is going to be feeling that ass rape. No reach around, no lube, just the pain and screaming. I'm tired of being f####d by my government and the bankers.

When (if ever) will everybody else feel this way???? Better yet......when will we DO something about it????

Mon, 06/18/2012 - 15:23 | 2537100 Cortez the Killer
Cortez the Killer's picture

Sounds like you are more than a little obsessed with having a dick up your asshole, no?

Mon, 06/18/2012 - 15:41 | 2537143 Colombian Gringo
Colombian Gringo's picture

Assuming you are a yank, you are already used it getting it good and hard from the Obamessiah. But hey, in this world, we all get fucked good and hard by the elites, the ortifice being secondary.

Mon, 06/18/2012 - 16:05 | 2537232 LULZBank
LULZBank's picture

"Sometimes life leaves you a hundred dollar bill on your dresser, and you don't realize until later that it's because it fucked you."

Mon, 06/18/2012 - 16:20 | 2537289 LeBalance
LeBalance's picture

that fuckin' dresser.

Mon, 06/18/2012 - 16:25 | 2537307 HungrySeagull
HungrySeagull's picture

You forget Blood makes for a good mark.

You need to take a vacation from your own obsession.

Mon, 06/18/2012 - 15:16 | 2537078 Pladizow
Pladizow's picture

Wow, then what does the US deserve?

Mon, 06/18/2012 - 15:20 | 2537091 cossack55
cossack55's picture

Much, much worse. For Bretton Woods if nothing else.

Mon, 06/18/2012 - 16:03 | 2537187 Swarmee
Swarmee's picture

Yes, because when I was born in 1980 I had SO MUCH influence on that deal. And my single vote, diluted and malformed via constant congressional redistricting and the electoral college has allowed me so much control over current fiscal policy.

You must be right, mine and every generation since should be punished remorselessly for being born into a corrupt and broken system clearly controlled by vast wealth pooled decades before even my parents were born.

What was I thinking? So sorry.

Mon, 06/18/2012 - 16:31 | 2537328 Umh
Umh's picture

So it's our ancestors fault. Are you asking for sympathy or some sort of reparation?

Mon, 06/18/2012 - 17:13 | 2537460 Swarmee
Swarmee's picture

Just lashing out because what else is there to do? The show is so rigged and the sheep so enthralled by the propaganda that it seems impossible to correct the problems anymore.

It's hard enough "waking up" in this environment, then once you do it takes more time to realize how ineffective most attempts at reform are, or have become, under new technological means of brainwashing and repression.

It seems the best one can do is to provide and prepare for self and family, educate those we meet who may yet be woken (few and far between), and hope to collect enough momentum with like minds to someday return to sane principles. It's like trying to accrete a planet from stellar dust while being told it's your fault that entropy exists.

Mon, 06/18/2012 - 17:37 | 2537529 forexskin
forexskin's picture

word, brother.

keep your own head up.

Mon, 06/18/2012 - 22:15 | 2538185 merizobeach
merizobeach's picture

"what else is there to do?"  GTFO, seriously.  It's a big world; find it.

Mon, 06/18/2012 - 22:51 | 2538300 Swarmee
Swarmee's picture

Way to distill everything I said into an out of context remark then offer a flippant insult. Truly, yours is wisdom to dispense.

Thu, 06/21/2012 - 00:20 | 2545988 merizobeach
merizobeach's picture

Wasn't actually meant as an insult, just the most direct approach to a real solution.  I left that sinking shit-ship 16 years ago, and that decision ranks among the best I've made in my life.

If I was inclined to be selfish or insulting, I could say something like, "on second thought, one of the great things about the world is that the insufferable USuckAss-ians are mostly contained in one place and don't, presently, pollute the rest of the world to saturation with their presence... So, carry on then--stay exactly where you are and continue doing exactly as you're already doing--traveling isn't worth it, and generally speaking, the world is better, more enjoyable place when Americans stay in America."

Mon, 06/18/2012 - 16:49 | 2537378 Bollixed
Bollixed's picture

Don't feel like the Lone Ranger. I'm a boomer who keeps getting blamed for FDR's bullshit like we went back in history and fucked things up for every generation born since yours.

Yea, I suppose we could have paid better attention, but the pre-internet days only fed us a diet of MSM God Bless the Fed, and Be proud to die in order to kill Commies, and What's good for General Motors is good for the Country...

Mon, 06/18/2012 - 22:32 | 2538238 merizobeach
merizobeach's picture

Well, instead of blaming you for "FDR's bullshit", how about we just agree to your complicity in financially subsidizing the military industrial complex's perpetual wars for your decades as a tax-payer and give you a share of ownership in the numerous genocides that have been perpetrated on your behalf as a war-supporter, regardless of whether you were brain-washed or intimidated into it or not.

If you don't agree, then go to Saigon or Phnom Penh and visit the war museums; see what you paid for back in the day.  Maybe someday there will be similar museums in Kabul and Baghdad; won't your grandkids be proud of you as a lawful, patriotic tax-payer when they visit those museums!

Mon, 06/18/2012 - 16:37 | 2537313 markovchainey
markovchainey's picture

How about millions of people who are going to die two weeks after the basics of commerce break down and they find that the only thing in their now non-working fridge is a litre of flat Mountain Dew?

Mon, 06/18/2012 - 15:17 | 2537081 eddiebe
eddiebe's picture

And you are sure Colombians are smarter than that?

Mon, 06/18/2012 - 15:11 | 2537060 tmosley
tmosley's picture

Reminds me of the Red Shield from The American Dream:

Mon, 06/18/2012 - 16:39 | 2537348 Bob
Bob's picture


Mon, 06/18/2012 - 15:36 | 2537130 Not Too Important
Not Too Important's picture

Here's how to take care of "The Squid":


Mon, 06/18/2012 - 15:07 | 2537042 Popo
Popo's picture

You **hope** your second passport does the trick.  

There's a saying about frying pans and fires....

Mon, 06/18/2012 - 15:16 | 2537075 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1

Good comment re second passport.

It does matter which second one you could get.  The only easy one I (an American) could get would be Peru.  Frying pan into the fire?  At least we would have a relatively decent life there.  Peru is our Plab B.

Mon, 06/18/2012 - 16:11 | 2537263 The Big Ching-aso
The Big Ching-aso's picture



The passport everybody really needs is the one to visit another planet.

Mon, 06/18/2012 - 16:28 | 2537317 old naughty
old naughty's picture

...and you are "banking" on the elites will sell you a seat on their UFO?

Mon, 06/18/2012 - 22:39 | 2538260 merizobeach
merizobeach's picture

"The only easy one I (an American) could get would be Peru."

Because you've checked the requirements for ALL the other countries?  I'm not saying there's anything wrong with Peru as plan B (except maybe the USuckAss as plan A), but there are certainly many viable, quality options for those with minds open enough to consider them.

Mon, 06/18/2012 - 15:11 | 2537056 Jake88
Jake88's picture

There's only one "z" in bitchez bitch.

Mon, 06/18/2012 - 15:20 | 2537088 Gully Foyle
Gully Foyle's picture


Tell that to JWOWW

Mon, 06/18/2012 - 15:43 | 2537149 superbroker1
superbroker1's picture

I'd Gadaffi JWOWW. Just sayyyin.

Mon, 06/18/2012 - 15:44 | 2537150 superbroker1
superbroker1's picture

I'd Gadaffi JWOWW. Just sayyyin.

Mon, 06/18/2012 - 15:53 | 2537188 Gift Whores
Gift Whores's picture

That's for more than two bitchi.  Like if I have two priussezz.

Mon, 06/18/2012 - 16:07 | 2537238 LULZBank
LULZBank's picture

There's only one "z" in bitchez bitch.

Its coz its a plural, numbnuttzz!

Mon, 06/18/2012 - 15:19 | 2537087 Gully Foyle
Gully Foyle's picture

Canadian airport to bug travelers' conversations

Ottawa airport installs microphones that are intended to, quite simply, bug private conversations between travelers. Might this be slightly intrusive? Or just plain creepy?

Mon, 06/18/2012 - 15:34 | 2537127 Sophist Economicus
Sophist Economicus's picture


Mon, 06/18/2012 - 15:43 | 2537142 hedgehog9999
hedgehog9999's picture

Maybe Hell-sinky has akready installed this Canadian aberration and he can hear nobody, after all Nokia technology is from there......

or maybe they all sank to hell....or is it hole-sinky?


Mon, 06/18/2012 - 17:22 | 2537490 Hobbleknee
Hobbleknee's picture

You can see microphones hanging from the ceilings at lots of airports.  It's already in place.

Mon, 06/18/2012 - 15:03 | 2537028 falak pema
falak pema's picture

this guys been reading me; it all sounds so stale! 

Mon, 06/18/2012 - 15:17 | 2537080 Jack Sheet
Jack Sheet's picture

But he left out the alliteration and onomatopaeia

Mon, 06/18/2012 - 16:47 | 2537370 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

+10 for reference

+100 for spelling

Mon, 06/18/2012 - 17:10 | 2537446 THX 1178
THX 1178's picture

It's onomatopoeia.

Mon, 06/18/2012 - 17:23 | 2537493 Hobbleknee
Hobbleknee's picture

And he's missing punctuation.

Mon, 06/18/2012 - 15:21 | 2537093 GeneMarchbanks
GeneMarchbanks's picture

After the latest Mark Grant 'contribution' Simon wanted to make sure he was not outdone for the biggest vox nihili award. We anxiously await the next Brusca piece to finally knight the prince of nonsense.

Mon, 06/18/2012 - 15:48 | 2537164 Jack Sheet
Jack Sheet's picture

Ha ha . Rubber Scrota is a 2 on a scale with Simon Black and Graham Bummers at 10.

Mon, 06/18/2012 - 15:06 | 2537035 Cognitive Dissonance
Cognitive Dissonance's picture

"People seemed to be capitulating all hope and starting to make peace with the fact that their economic futures have been squandered by a stupid experiment."

Perhaps we will see the "Fiat Currency Forever" and the "Exponential Growth Forever" myths experimented on, and then debunked, on Mythbusters?

Pretty please?

Mon, 06/18/2012 - 15:06 | 2537037 carbonmutant
carbonmutant's picture

Is Corzine consulting to the Greek and Italian banks...?

Mon, 06/18/2012 - 17:01 | 2537413 wandstrasse
wandstrasse's picture

yes, Corcini and Korzinaki

Mon, 06/18/2012 - 15:06 | 2537039 bank guy in Brussels
bank guy in Brussels's picture

Airport was empty because they heard Sovereign Man was coming!

Mon, 06/18/2012 - 15:26 | 2537109 potlatch
potlatch's picture

Isn't that a Black Sabbath song?

Mon, 06/18/2012 - 15:07 | 2537043 YuropeanImbecille
YuropeanImbecille's picture

All respect to ZH, but this with "shit I did-not-see-people-call-the-ghostbusters" is very ridicious and a bit tarded

Mon, 06/18/2012 - 15:20 | 2537090 arvesia
arvesia's picture


Mon, 06/18/2012 - 16:58 | 2537401 wandstrasse
wandstrasse's picture

/ 3 =


Mon, 06/18/2012 - 17:12 | 2537456 THX 1178
THX 1178's picture


Mon, 06/18/2012 - 17:20 | 2537488 akak
akak's picture

&  #^%* @ <<!

Mon, 06/18/2012 - 17:25 | 2537497 Hobbleknee
Hobbleknee's picture

?(????) Y U NO?

Mon, 06/18/2012 - 23:51 | 2538482 Likstane
Likstane's picture

%===D ~ ~  ( . Y . )

Mon, 06/18/2012 - 16:40 | 2537325 roadhazard
roadhazard's picture

It's a slow day in Bizarro world.

Mon, 06/18/2012 - 15:08 | 2537045 BlackholeDivestment
BlackholeDivestment's picture

...Simon says ''Black Hole''.

Mon, 06/18/2012 - 15:09 | 2537049 Patriot Eke
Patriot Eke's picture

What, no mention of Chile?!

Mon, 06/18/2012 - 15:49 | 2537171 Jack Sheet
Jack Sheet's picture


Mon, 06/18/2012 - 15:09 | 2537050 Transitory Disi...
Transitory Disinflation's picture


"Welding, you cant see shit whilst its happening but you will find out if you look."

Mon, 06/18/2012 - 15:10 | 2537054 vegas
vegas's picture

I ain't gettin' no traffic past that patch of land in Paraguay I'm renting from Jenna Bush either. What am I supposed to do with all those vegetables? Maybe if I moved to one of those abandoned cities in China, I could get a reduction in rent? Although, I would probably have to rent it from Jenna Bush, so I don't know how that works out. Simon, give me some fucking news I can use instead of all this travel bullshit. Yea, Europe is a mess - thanks for the tip.

Mon, 06/18/2012 - 16:03 | 2537228 Sofa King Confused
Sofa King Confused's picture

So you want to rent Jenna's Bush

Tue, 06/19/2012 - 00:16 | 2538524 akak
akak's picture

It'd be a damn sight better than having to rent Hillary's clintorus.

Mon, 06/18/2012 - 15:13 | 2537063 adr
adr's picture

It isn't just European airports, it is everywhere. The cost of airline travel has skyrocketed and nobody is going anywhere except for business travel.

Six months ago I could fly to one of my major accounts for $275. The ticket is now $689, booked a month in advance. You think a family of four is going to fly to Orlando to visit Disney World when a ticket is $450 per person?

If you go to Pittsburgh's airport you could show up 15 minutes before takeoff and still get on your plane. Even Charlotte is sparse, Detroit's airport is starting to look like the rest of the city.

The interstates are pretty low with car volume, but are packed to the gills with trucks carrying all that unsold channel stuffed inventory around. My local Walmart hasn't even bothered restocking the shelves. I'm thinking Best Buy will let me pay $100 for a $2000 TV soon just so they can say they sold one.

Mon, 06/18/2012 - 15:52 | 2537083 Its_the_economy...
Its_the_economy_stupid's picture

Gas just dropped under$3.35. The roads are lined w boats, pick-ups, 4-wheelers, campers for sale. Everyone is selling whatever they got or whatever costs money to use.

Gettin' lean and mean, especially mean.

Mon, 06/18/2012 - 16:18 | 2537283 Cognitive Dissonance
Cognitive Dissonance's picture

Maybe it's just my area, but I am seeing many (larger) boats with big "For Sale" signs on the side. By larger I mean 25 to 35 (or more) feet, not the smaller Boston Whaler size. In fact I see very few of the smaller boats for sale on the side of the road.

Mon, 06/18/2012 - 16:33 | 2537329 ParkAveFlasher
ParkAveFlasher's picture

Owners of physical PMs snapping up all those little boats, methinks.

Mon, 06/18/2012 - 17:28 | 2537507 Marginal Call
Marginal Call's picture

They keep having accidents.  Really, a boating safety course should be required at the coin shop. 

Mon, 06/18/2012 - 17:41 | 2537540 Wakanda
Wakanda's picture

I had another accident yesterday!

C'mon in, the water is fine.

Mon, 06/18/2012 - 17:40 | 2537537 Wakanda
Wakanda's picture

Not yet, but soon - bargains galore next year for PM holders.


Tue, 06/19/2012 - 02:59 | 2538688 Freddie
Freddie's picture

What is weird is if you watch YouTube videos on Detroit after the implosion - you see garbage everywhere including old boats dumped everywhere.  Probably owned by ex GM plant workers.   Usually 16 to 22 foot lake/ski boats and a few bigger ones. 

Old tires are everywhere as well.

Mon, 06/18/2012 - 15:23 | 2537103 BandGap
BandGap's picture

I travel a lot.

I was shocked traveling out of Detroit a few weeks ago.  Monday morning, 10AM. Place should have been packed. I would guess I saw 40% of the people I saw 10 years ago. This is a newly remodeled airport. You could have filmed a movie.

Minneapolis same shit.


Mon, 06/18/2012 - 16:18 | 2537285 i_fly_me
i_fly_me's picture

Traffic here in the DC suburbs has generally subsided as well ... unless, of course, any form or amount of water falls from the sky.  In that case, local tradition requires people to immediately crash into the car in front of them and leave the two vehicles in the roadway while they argue and until a representative of the law can get some flashing lights going for everyone to gawk at.

Mon, 06/18/2012 - 15:39 | 2537110 DoChenRollingBearing
DoChenRollingBearing's picture

Comments on recent airline flights...

I recently flew from my city to another US city to visit our kid and family friends.  I then flew on to Seoul, Korea via SF.  After a week in Korea I flew to Osaka, Japan.  Two days later back to SF and my hometown.

Months ago I asked our travel agent to give me a guesstimate of the cost of the air travel: $4000.  I then told her I need lowest price nothing else.  OK, $1800.  Most of the trip was on United (supposedly the worst airline to Asia).

At arrival in Incheon (Seoul) and departure, the airport was pretty quiet, but I had never been before.  Osaka's airport was quiet as well, arrival and departure.  Both apparently well under capacity.  And both were beautiful airports.  But my flights were all full...

SF's airport was maybe half-way busy, both arrival and departure both times.

Just an anecdotal data point...

Mon, 06/18/2012 - 17:14 | 2537385 hedgeless_horseman
hedgeless_horseman's picture



Ooh.  I love travel logs! 

Ernest's in Shreveport was absolutely packed. 

State Police at the door, per usual.

The band played some Charlie Rich and I danced with The Most Beautiful Girl in the World, then drank a couple of vermouths before dinner. 

We had Dom with our crab claws. 

The limestone salad was piled high with even more crab. 

The snapper with artichoke hearts in wine was to die for, and I think we paired it with an Italian pinot grigio, but I never got to pull the bottle from the bucket, as the service is so fine.

Cherries Jubilee with flaming sauce poured from the sky by the hand of a 6'6" African American standing at our table in a dinner jacket and bow-tie.

What a night.

No zombies to report.

Mon, 06/18/2012 - 23:03 | 2538336 Miffed Microbio...
Miffed Microbiologist's picture

Well, your day topped mine. Just got back from Spokane attending my daughter's college graduation. I can attest to the heavy crowds at the San Diego airport, TSA gropers in full molestation mode and scanners irradiating non stop. My younger daughter was pulled aside for the "special" screening (she's blond and buxom). Let's just say I'm thankful mr Miffed didn't get us arrested or linked on Drudge but I was worried for a minute. Your Shreveport night sounded magical but after this last trip I'm afraid to get mr miffed near a plane. Looks like we're limited to driving or walking for our next vacation.


Tue, 06/19/2012 - 03:01 | 2538691 Freddie
Freddie's picture

I was in San Fran circa Bush years and the airport and car rental was busy.

I stopped flying because I refuse the TSA/Coach Sandusky routine.

Mon, 06/18/2012 - 16:10 | 2537256 Iwanttoknow
Iwanttoknow's picture

I beg to differ.Flew through Hongkong last january,singapore in February.Both crowded as ever.

Mon, 06/18/2012 - 16:28 | 2537316 HungrySeagull
HungrySeagull's picture

Best Buy had a 55 inch LCD Monitor running at 120 hertz in HD Glory at a discounted price of 1800, floor open box model.

And by the way I call bullshit on your JIT channel stuffing via trucking.

Half the shit goes across the bridge into Canada and the other half are coming out of there.

Detroit is where no one stops.

Mon, 06/18/2012 - 15:14 | 2537066 Its_the_economy...
Its_the_economy_stupid's picture




Mon, 06/18/2012 - 15:14 | 2537068 PivotalTrades
PivotalTrades's picture

The experiment that failed was socialism!! that failed economic system brought the euro down and will now bring down the pound and USD.

Mon, 06/18/2012 - 15:44 | 2537152 williambanzai7
williambanzai7's picture

It's a little bit more complicated than that, dont you think?

Mon, 06/18/2012 - 16:02 | 2537223 walküre
walküre's picture

Opponents of "socialism" never look at the alternative. Feudalism, aristocracies, oligarchs and so on. We don't have socialism in a nation that can afford to compensate executives tens of millions p.a. for 1 person, for 1 type of job. Think about it.

What we're being sold as socialism is really just a bandaid to keep the people happy and quiet. That's the one important lesson the power elite has learned from past mistakes. If the power elite was honest, they would at least admit to themselves that they're simply stealing from everyone else and sitting at the top of the pile because millions of slaves, drones, consumers, voters or whatever are pacified and supporting them. Some will admit that to themselves, the majority is ignorant and thinks they're deserving.

Heads need to roll when reasonable solutions are off the table.

Mon, 06/18/2012 - 16:05 | 2537233 Cognitive Dissonance
Cognitive Dissonance's picture

But black and white answers are so much easier to swallow........hook, line and sinker.

Mon, 06/18/2012 - 18:14 | 2537640 optionsman
optionsman's picture

i gave that a +1 because that comment was sarcastic. am i wrong?

Mon, 06/18/2012 - 15:15 | 2537069 bdc63
bdc63's picture

dead as a doornail.  hear that noise? ... it's the fat lady rehearsing back stage.

Mon, 06/18/2012 - 15:16 | 2537072 debtor of last ...
debtor of last resort's picture

Nobody will be ready. But if it make's you feel good, then you are ready.

Mon, 06/18/2012 - 15:26 | 2537079 bdc63
bdc63's picture

well said.  life is about to get really, really ugly for everyone ... everywhere.

we're about to get a powerful lesson in what's REALLY important in life. 

Mon, 06/18/2012 - 15:31 | 2537121 debtor of last ...
debtor of last resort's picture

Quite right my friend

Mon, 06/18/2012 - 15:53 | 2537190 BudFox2012
BudFox2012's picture

I wake up every single morning wishing it was not true and that everything can continue on as it is, but every day I come to the same conclusions you have...

Tue, 06/19/2012 - 03:05 | 2538693 Freddie
Freddie's picture


And every morning it seems a bit bleaker than the prior day.  You wake up all excited to get started for the day and reality quickly sets in in about 15 seconds.

Mon, 06/18/2012 - 15:20 | 2537074 GIANTKILR
GIANTKILR's picture

I was at ORD Saturday and it was wall to wall people. Lines forever, missed flight and got bumped from the next flight. I didn't see any signs of an economic slow dow there. All restaurants and bars packed. I have been flying the same route from ORD to IAH for two years. Prices haven't changed much nor the amount of people flying. I wish less people would fly as it would make my tolerance for flying better. I hate flying airlines!

Mon, 06/18/2012 - 15:22 | 2537096 Jack Sheet
Jack Sheet's picture

So what happened in Vilnius, Lithuania?

Mon, 06/18/2012 - 15:46 | 2537155 LFMayor
LFMayor's picture

Dancing sir, mostly dancing.

Mon, 06/18/2012 - 16:10 | 2537258 LULZBank
LULZBank's picture

So what happened in Vilnius, Lithuania?

Buy a property and get a second passport for free!!!

Contact your nearest estate agent for details.

Mon, 06/18/2012 - 15:22 | 2537099 Loco Vida
Loco Vida's picture

Who cares about BFE anymore.............none of this shit affects me as I sit by the pool drinking american box wine :)

Mon, 06/18/2012 - 15:24 | 2537108 Colonel
Colonel's picture

"Since then, it’s devolved further to strings of bits in a giant database; our money supply is nearly all digital."

 Nice choice of words, devolved is right. Now go to the nearest light switch and flick your lights on and off 1000 times,

congratulations you just made a $1,000, You're welcome.

Mon, 06/18/2012 - 15:23 | 2537104 disabledvet
disabledvet's picture

Vilnius? My God...even Vilnius has been impacted? No wonder you hightailed it up to Hell Sinky. And now even that place isn't safe?

Mon, 06/18/2012 - 15:23 | 2537105 lasvegaspersona
lasvegaspersona's picture

IF the Euro is just another are right...but look is NOT just another fiat (nor a conglomeration of fiat currencies).

The Euro is a currency of no single nation (and therefore not subject to mere political will of the moment.)

The Euro will remain... even if all the countries that formed if use another currency locally....because THAT is why the Euro was formed.

Also look at the balance sheet, asset #1 is gold. This is not just the European version of the Fed/$$/fiat with QE to infinity.

Mon, 06/18/2012 - 15:30 | 2537115 bdc63
bdc63's picture







Mon, 06/18/2012 - 15:56 | 2537198 Badabing
Badabing's picture

Lasvegaspersona I agree +1

What we are witnessing is a currency war between the fed and euro. The euro is also the reserve money of Europe without a country. For all the people that want the dollar pegged to gold and think it’s a pipe dream and then want to see the euro fail also? For what? The euro is the feds nightmare and that’s OK with me!

Mon, 06/18/2012 - 15:28 | 2537112 ebworthen
ebworthen's picture

"The conclusion to draw from all of this is clear: finance the government, save the banks, screw the people. This reality, coming soon to a western civilization near you."

Yup, about says it all.

Including Amurika!

Mon, 06/18/2012 - 15:27 | 2537113 resurger
resurger's picture

ZH's any one can provide me with a list of Spanish & ITalian 10 Year ETF's

Better be short on those ones

Mon, 06/18/2012 - 15:47 | 2537163 dwayne elizando
dwayne elizando's picture

ITLT & ITLY. They're ETNs though.

Mon, 06/18/2012 - 16:01 | 2537205 resurger
resurger's picture

Thanks a million man.

those ETN's track the price of the bond?

Mon, 06/18/2012 - 16:21 | 2537294 dwayne elizando
dwayne elizando's picture

They're supposed to. I don't know if it tracks the 10yr or not though.

Mon, 06/18/2012 - 15:27 | 2537114 Red Heeler
Red Heeler's picture

"This reality, coming soon to a western civilization near you."

Prepare to be uncivilized!

Mon, 06/18/2012 - 16:42 | 2537353 old naughty
old naughty's picture

What does that mean?

Greece is no longer the craddle?

Mon, 06/18/2012 - 22:55 | 2538312 merizobeach
merizobeach's picture

It means Greece is still ahead of the curve.  :-)

Mon, 06/18/2012 - 15:30 | 2537117 Winters75
Winters75's picture

You were in Helsinki? Next time let me know!

Mon, 06/18/2012 - 16:04 | 2537229 walküre
walküre's picture

You could meet him and double the population at Helsinki Airport.

Tue, 06/19/2012 - 03:31 | 2538703 Winters75
Winters75's picture

Jealous much?

Mon, 06/18/2012 - 15:30 | 2537118 OutLookingIn
OutLookingIn's picture

Reality is so boringly concrete.

Can you handle the truth?

Mon, 06/18/2012 - 15:32 | 2537123 Cupid Stunt
Cupid Stunt's picture

The Experiment Has Failed.

Mon, 06/18/2012 - 15:38 | 2537128 mark7
mark7's picture

Scandis have their summer holidays usually either in June or July. Midsummer festivals (remember, nightless nights up there during summers, like in Alaska) are around June 21st to 24th, so that is why there were not many people around in Helsinki airport, even a week before the festivals. Almost everybody go to the country side near lakes to summer cottages to have a party or to the festivals. Cities feel quite deserted during that time.

Mon, 06/18/2012 - 15:55 | 2537196 singlemalt
singlemalt's picture



Most Northern Eurpeans understand this concept, as well as the drink-your-way-through-the-never-ending-night in December.

Simon ignores the obvious explanation to draw a cause/effect that meets his reality.

The shame in all of this is us wasting our time posting about it.  Simon FTW.

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