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Guest Post: The Tiresome Eurozone Soap Opera Has Entered Re-Runs

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Submitted by Charles Hugh Smith from Of Two Minds

The Tiresome Eurozone Soap Opera Has Entered Re-Runs

The Eurozone "drama" needs some fresh plot developments; it has become boring.

What's more tiresome than a hastily rehearsed soap opera that replays the same boring plots again and again? Re-Runs of that soap opera. The Eurozone "drama" is now in re-runs and I for one am switching channels. Nothing will change until some critical part of the worm-eaten, corrupt construct of artifice and denial collapses in a heap. Until then, all we have is replays of the same boring plot lines:

Put-upon Greece: We were just minding our business here in the sunny south, living happily on borrowed billions in a thoroughly corrupt Status Quo, and suddenly we're debt-serfs squeezed by rapacious Eurozone enforcers of the banking cartel. What did we do to deserve this? It's not fair.

Put-upon Germany: We were just minding the store here, racking up 40% of our GDP in exports and raking in bank profits loaning money to our Eurozone compatriots, when suddenly everyone who's lived beyond their means demands that we refinance their debts because we're rich. Excuse us, but did anyone look at how we got rich? Hard work, cuts in spending, high taxes and a tight lid on wages. What did we do to deserve this? It's not fair.

Married couple in counseling: France and Germany: It's all his/her fault. They never bothered to understand me, etc.

The lit-fuse terrorist: Either refinance our debt and bail out our Status Quo, or we're gonna blow up the Eurozone!

Is anyone else tired of the entire cast and threadbare plotlines? The "crisis" drama could be dispensed with in short order:

A. The bickering couple(s): get a divorce and quit blaming the other.

B. Insolvent banks: fire the management and liquidate the banks in an orderly fashion, following the well-established model: clear the books of impaired assets, and let the market price those assets. Any losses are passed through to the shareholders and bondholders. Once the losses have been taken, recapitalize the banks with new bonds and/or shares, and establish prudent lending guidelines. Prohibit backstopping or bailouts by central banks or Central States.

C. Unsustainable pensions, budgets, deficits, etc.: only spend what is collected in tax revenues, period. Stop living in the past and borrowing from future taxpayers.

On the macro scale, the Eurozone's systemic problems boil down to these realities:

1. No household or economy can sustainably spend more than it reaps in surplus. The net surplus (what's left after paying the expenses of producing goods and services) can either be spent on consumption, invested in productive assets or leveraged into debt. If it is leveraged into debt, then the interest eventually consumes the entire surplus and the entity enters a death spiral.

The only way to be able to spend more is to generate more surplus. It's that simple.

2. The demographics of a dwindling workforce and an expanding populace of State dependents cannot be gamed or disappeared by artifice. The entire developed world is facing the impossibility of one full-time worker supporting one State dependent. Here in the U.S., there are 115 million full-time private-sector jobs and over 110 million dependents on the State just in the Social Security, Medicare and Medicaid programs. Add in all the other State dependents and the ratio is perilously close to 1-to-1. (That Which is Unsustainable Will Go Away: Medicare May 16, 2012)

(Recall that all Federal spending is "pay as you go"--there are no vast pools of money laying around in trust accounts. If Social Security expenses exceed SSA tax revenues, the Treasury sells bonds to cover the shortfall.)

I don't have the figures on hand for Europe, but if all State dependents and only full-time jobs are counted, I am confident the ratio in most of the Eurozone is close to 1-to-1: one full-time worker for every State dependent.

3. "Growth" based on debt and the build-out of China is over. The "growth" story in Europe over the past decade was essentially debt-based: real estate bubbles in Ireland, Spain and elsewhere, and debt-based consumption everywhere. China is massively overbuilt and has gargantuan levels of overcapacity in virtually every industry. Selling luxury cars to China may appear to be a good business, but 500+ spontaneous citizen demonstrations a day portend game-changing blowback to corrupt officials buying Audis and Cayennes by the thousands.

4. Everything that is held away from market forces eventually snaps back and faces market pricing of risk, valuation and surplus, i.e. reality. Unrealistic pensions, unrealistic spending, unrealistic budget projections--all will increasingly be exposed to market forces, one way or another.

5. A nominally capitalistic economy without collateral is living on borrowed time (and borrowed money, needless to say). Correspondent David H. summed this up very succinctly:

What we are all living through today is the failed experiment of trying to run a capitalist economy on no REAL capital. This not only crimps wealth and the overall standard of living, but also elevates the perverse over the rational.

The entire Eurozone "drama" is the result of the perverse being elevated over the rational. As Yeats so aptly phrased it, "The best lack all conviction, while the worst are full of passionate intensity."

The Eurozone soap opera is truly a tale "full of sound and fury, signifying nothing," until the rubber band snaps and reality intrudes.

 


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Sun, 06/17/2012 - 22:19 | Link to Comment AlaricBalth
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Classic Greek tragedy/comedy.
Euripides could not have written a more complex script.

Sun, 06/17/2012 - 22:29 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Europe, Europe, Europe...

+ 1, but for other other financial news:

Google: "Review of Barron's -- Dated 18 June"

Sun, 06/17/2012 - 22:50 | Link to Comment Manthong
Manthong's picture

So where in this soap is the gay guy that used to be the token bit part but now is the lead?

Sun, 06/17/2012 - 23:09 | Link to Comment miro1a
miro1a's picture

The White House

Sun, 06/17/2012 - 23:19 | Link to Comment Richard Chesler
Richard Chesler's picture

If you were betting on a different outcome, you need to have your imbecile head examined.

Leechfucks beget leechfucks of the leechfucks, for the leechfucks, by the leechfucks.

There WILL be fireworks, just not yet.

Sun, 06/17/2012 - 23:42 | Link to Comment derek_vineyard
derek_vineyard's picture

zzzzzzzzzzzzzz

wake me when the script changes

Sun, 06/17/2012 - 23:53 | Link to Comment flacon
flacon's picture

clear the books of impaired assets, and let the market price those assets.

I'm in for a 2005+ home, 4 bedrooms, nice suburb... I'll pay $10,000, not $400,000...

Mon, 06/18/2012 - 00:35 | Link to Comment wisefool
wisefool's picture

Would you accept $10,000 per year in property taxes? The threat of violence is really important to "Mathematicians"

 

Mon, 06/18/2012 - 00:42 | Link to Comment Manthong
Manthong's picture

You nailed it...  the next "twist "in this pathetic story.

Mon, 06/18/2012 - 01:07 | Link to Comment wisefool
wisefool's picture

Hey folks. Lets get though some admissions.

  • A tax code is for people who do not have anything better to do, and I like low IQ people showing up on my door. But I dont like people named Timmah! Diogenies has his hands full of merkel.
Mon, 06/18/2012 - 00:50 | Link to Comment zaphod
zaphod's picture

Go on zillow and look at homes in detroit.

You'll find homes clearing for ~$2.5K with $1.4K in taxes.

Think I'm kidding, here:
http://www.zillow.com/homedetails/5009-Rohns-St-Detroit-MI-48213/8824033...

Mon, 06/18/2012 - 01:55 | Link to Comment Prometheus418
Prometheus418's picture

I like the part with the $9 estimated mortage...

Shit, I'm a poor guy, and I have enough to buy that place with one of my boxes of silver.  Too bad it's near Detroit.  If that makes it here, I'm going to be a landlord real quick.  If nobody wants to rent, I'll get a bulldozer and surround myself with farmland- only about a mile to the city limits, I can do that at those prices.

Mon, 06/18/2012 - 02:21 | Link to Comment wisefool
wisefool's picture

I think some of your ideas are good. But I admit you are smarter than me. Instead of investing in property, would you be willing to invest in Education? LLM taxs is a good start.

Worst case you help Timmay out.

Mon, 06/18/2012 - 04:31 | Link to Comment koperniuk666
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Does anyone know why this area is so cheap??

 

Is it 'multicultural' by any chance........

Mon, 06/18/2012 - 01:57 | Link to Comment rocker
rocker's picture

The County I live in just sent me the new apraised value of my property and home.  Up a measly 100%. I could not believe it.

To make me feel better they said acutual tax bill can not increase by more than 10% a year. "Unless that too is revised".

We are so fucked in America. So fucked............   No longer the land of the free with alienable rights.

We are worse than Japan now.

Mon, 06/18/2012 - 06:25 | Link to Comment neidermeyer
neidermeyer's picture

http://thehill.com/blogs/global-affairs/russia/233067-obama-urged-to-take-hard-stance-with-putin-at-g20-summit

Lawmakers urge Obama to take hard stance with Putin during G20 summit

Prediction: Obama will take a wide stance with putey Pute...

Sun, 06/17/2012 - 22:52 | Link to Comment mcguire
mcguire's picture

the drama in europe doesnt really start until the UFOs appear during the london olympics.. 

Sun, 06/17/2012 - 22:33 | Link to Comment Michael
Michael's picture

This US tragic/comedy is starting to pick up steam. No one likes the Fox news/MSM selection for republican nominee, so we're going to fuck over the whole system by all voting for Obama again, because it doesn't matter who's POTUS.

Give This Election To Obama And Be Done With It 

This is not to say we in the Liberty movement are giving up. Quite the contrary. We understand that the Neo-Conservative Republican Right marginalizes any individual who speaks about less government. The media is in such cahoots with government that the Liberty voice is being shut down completely, except through the internet. Heck, Fox News got rid of the show Freedom Watch with Judge Napilatano and they claim to be “Fair and Balanced,” “Looking out for you,” and wanting to “Keep Freedom Alive.”

But the Internet itself is being threatened by those from the Left and Right who want to keep their power alive. These leaders in the Senate and the House need to be watched and exposed when they infringe upon our freedoms.

That is why I would prefer this next election to be a Democrat winner rather than a Republican while at the same time have the House and Senate divided so nothing gets passed. The system will implode upon itself the next four years. It’s simple math. From the ashes the Old Republican Party can set the country back on Liberty track, full steam ahead.


A Vote for Obama May Be the Best Thing That Has Ever Happened to the Liberty Movement

http://wetheserfs.com/blog/2012-election/a-vote-for-obama-may-be-the-best-thing-that-has-ever-happened-to-the-liberty-movement/

Sun, 06/17/2012 - 23:04 | Link to Comment Bindar Dundat
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www.gbtv.com    Where the truth lives

Sun, 06/17/2012 - 23:29 | Link to Comment slewie the pi-rat
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troll alert:  this is an ori- type string-jump spam for glennB TV subscription;  my post-sweep was clear for my software, but i just kwik-swept the obvious

dude!  stop!

Sun, 06/17/2012 - 23:19 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

if you think mittens is a neoCon  than you are correct that voting 4 prez0 is the correct move

is mittens a neoCon? 

personally, i think so;  therefore i agree with you politically here

but i don't know what will happen, next, in the shape-shifting

here, you will get junked, michael, b/c the mittens support is here, politically, on zH

many/most of the mittens supporters here simply appear to be part of a mindless movement to portray him as "againstSocialism/likeReagan&maggieT"

they are here in droves!  many of them "time bombs" from after the last election when the Tparty did so well w/ theRepublican party in the off-year 2010 House election

but mittens ain't T, imo;  he's neoC 2_slewie_2;  and these guys are here in perfect harmony with the "contact" design that sac (& tyler) served up to them organizationally, to take over the site for political purposes and (trust me) m.o.n.e.y.

so fuk em!  we like to dance!  L0L!!!

Sun, 06/17/2012 - 23:32 | Link to Comment Crisismode
Crisismode's picture

Slewie,

 

Sadly, you've gone off your meds one more time again.

 

Take a deep breath, have a glass of water, take your pills, and . . .

 

just relax.

 

 

Mon, 06/18/2012 - 00:40 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

i don't have meds

you may have me mixed up with a fake slewie or you may just be a shitheaded asswipe whose mother is a fuking whore

either way, you take up too much space saying nothing...

Mon, 06/18/2012 - 01:26 | Link to Comment Michael
Michael's picture

Fuckin made me laugh slewie.

Mon, 06/18/2012 - 02:08 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

this pathetic toy-boy has two posts in two weeks and wants to be my fuking doctor?  L0L!!!

Mon, 06/18/2012 - 02:24 | Link to Comment Michael
Michael's picture

I would really like to see a Black President do the right thing for the people in my life time, the first Black President.

I'd really like to see him come through for us but I think he's mentally ill. I'd like to be wrong. 

I don't give a rats ass he's from Kenya for now, I can use that later...

Mon, 06/18/2012 - 04:08 | Link to Comment CompassionateFascist
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Go over to Occidental Dissent and look at the essay on what happens to countries during/after the "1st Black President". 

Sun, 06/17/2012 - 23:41 | Link to Comment mcguire
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yeah, i'd say most ZH readers see past the false right/left paradigm.. 

 



Mon, 06/18/2012 - 00:04 | Link to Comment Lednbrass
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Left vs. right is a legitimate philosophical and political fight, its dem vs. repub and most of the assorted inter party squabbles around the world that is as phony as pro rasslin'.

"And here comes the Chicago Wonderboy off the top rope, he hits Dollar Bill with the Flying Venezuelan Atomic Wedgie! Dollar Bill is down for the count, but here comes his manager Lloyd Dimon Masters, and hits the Wonderboy with his cane! The Wonderboy is reeling"!

In the next episode they switch sides between who plays the heel and who plays the babyface and most of the marks remain clueless.

Mon, 06/18/2012 - 00:52 | Link to Comment mcguire
mcguire's picture

"The argument that the two parties should represent opposed ideals and policies, one, perhaps, of the Right and the other of the Left, is a foolish idea acceptable only to the doctrinaire and academic thinkers. Instead, the two parties should be almost identical, so that the American people can "throw the rascals out" at any election without leading to any profound or extreme shifts in policy."

-- Carroll Quigley, Tragedy & Hope: A History of the World in Our Time

Mon, 06/18/2012 - 01:10 | Link to Comment Vic Vinegar
Vic Vinegar's picture

When I first heard this quote I was pissed off with blind rage.  I mean, holy shit, this stuff actually exists!

And the people that made me aware of the quote were saying in my ear: you know what dude, they wanna get you!  They wanna destroy America.  And your family!

But as time goes by and I have a chance to look at it objectively, I think C-Quiqs is coming from a place of understanding.  

I mean, deep time, thought and money wasn't put into this b/c it had no value.  Now the pros and cons of that value should be actively debated.  I've yet to see a media outlet do so.  It's either: a) this stuff is pure evil (i.e., Patriot webistes) or b) not talked about but spoon-fed to us (i.e,, MSM).  It would be nice to have a real debate about world government but I doubt that's gonna happen.  And I sure as shit doubt anyone cares about your opinion or mine.

Mon, 06/18/2012 - 04:10 | Link to Comment CompassionateFascist
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For what it's worth, CQ was one of Bill Clinton's mentors. 

Mon, 06/18/2012 - 01:30 | Link to Comment Michael
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check.

Sun, 06/17/2012 - 23:50 | Link to Comment Harbanger
Harbanger's picture

Mittens may be a neocon, true,  but he's well aware of the liberty movement and it's ability to mobilize and win elections. 

Mon, 06/18/2012 - 00:40 | Link to Comment Vic Vinegar
Vic Vinegar's picture

he's well aware of the liberty movement and it's ability to mobilize and win elections. 

What does this mean?  For example, I'm well aware of litterbugs, people getting high on bath salts and Lindsay Lohan, but that awareness doesn't = anything meaningful.  How is Mitt's awareness different?

Mon, 06/18/2012 - 01:23 | Link to Comment Harbanger
Harbanger's picture

Good question.  Politicians generally couldn't care less what the population thinks unless data is given to them by their  "political handlers" guaging polling data.  Times have changed (technology).  People are becoming aware and we are seeing them LIE to the pollsters.  (check the data vs outcome) Why? because it's politically correct and they're learning the game.  The msm can't make a prediction now and it's driving them nuts.  Mittens knows that the grass roots are now organized and came out in droves in 2010 to put the brakes on spending.  It's true that money will flow to the "predicted" winner (whomever) but it doesn't mean they can win without ground support. 

Mon, 06/18/2012 - 01:33 | Link to Comment Vic Vinegar
Vic Vinegar's picture

The msm can't make a prediction now and it's driving them nuts.

I don't think this is the case at all.

I also don't think you are worth responding to genuinely at all, but hey - we all fuk up from time to time.  I mean, slewie still wants to fuk baby_BLYTHE and far be it for me to deny him that fantasy.

At this stage of the game, you should either be: a) locked in your bunker, munching on freeze-dried turkey tetrazzini and cluthcing coins or b) racking up credit card debt at the Gap.  

Place your bets, spacemonkeys!

Mon, 06/18/2012 - 01:45 | Link to Comment Michael
Michael's picture

I notice the MSM are consolidating sides and choosing Romney currently as their chosen POTUS. They all work for the same club. But the point is, the Ron Paul Crew can currently choose Obama as the next POTUS by Tweet to all vote for Obama, getting sweet revenge on FOX and the msm for that purpose only. And maybe we will.

And stop making slewie look so good.

Mon, 06/18/2012 - 02:37 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

Hahaha!

michael!  k.i.s.s.:  if mittens is a neoCon, which he is, are you sure he should be put in charge of the country to "fix the socialism"?

yes? or no?  that would be the vote and it ain't about no rPaul tweets or we doing anything

mittens is a neoCon

that is either ok with a person in 2012 or it isn't

some people don't like liberals, muslims, jews, blacks, reds, asians, zoroastrians.  me?  i don't like neoCon presidents [or fuking banksters!]

so i won't vote rowA

and it is just that simple for me

but if h_banger and tyler and dCasey want to vote for mittens, i will still respect them, even though people with green hair or mouse ears wouldn't be caught dead in such propwashed acceptability

you really had it right in a coupla sentences there, earlier, so try to keep in touch with how simple that was to actually get along with me, too, when you were thinking straight...

so that's that!  hava nice time till ya vote!

Mon, 06/18/2012 - 01:44 | Link to Comment Jena
Jena's picture

Where, really, is there evidence that spending would slow under Mittens?  I understand that is what the red team sells but if I remember right the rate of increased spending was pretty steep during the GWB years, too.  If we get a Rep. Senate and House, we won't hear any arguments about increasing the debt ceiling, it'll just levitate.

Don't get me wrong, I'm no fan of Obama (and my comment history will likely demonstrate that).  I just want to know why the confidence in Romney.

Mon, 06/18/2012 - 01:13 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

hey, h_banger! 

i don't consider you a troll here

but you are representative on what i am seeing on zH, in gereral, so thank you for dialogue

again, the neoCon thing is a stopper for many;  others hate prez0 so much they think another neoCon would be ok

and there are a lot of them in the "financial" community

neoCon isn't cool w/ slewie b/c it appears to me to be the full-blown blossom of fascism in the US

now that is a personal opinion and what slewie sees;  but i will own it and put it out there for you also,  h_banger, ok?

many here including myself see both candidates as paid-for corpo-fascists;  i haven't voted for a Party candidate4prez in over 3 decades and i didn't vote for prez0 in '08, b.c i knew he was bullshit on wheels;  but i may vote for him in november

there are no surprises in anything here for people who understand the game

pick yer poison 101

you want a white-bread chickenshit lying neoCon mormon billionaire fascist vote mittens!  you want a socialist commie pinko lying fuking nigger fascist vote prez0 with slewie and michael!

we can do this!  L0L!!!

Mon, 06/18/2012 - 01:18 | Link to Comment Vic Vinegar
Vic Vinegar's picture

And your comment - brilliant and rooted in decency - means nothing.

You didn't vote in 2008?  Who gives a shit, who gives a fuck?  I voted for Wayne Allan Root because he was the VP nominee of my party.

http://www.rootforamerica.com/

The party of principle, right?  

you want a white-bread chickenshit lying neoCon mormon billionaire fascist vote mittens!  you want a socialist commie pinko lying fuking nigger fascist vote prez0 with slewie and michael!

OK - I'll vote slewie and michael.  What of it?

Mon, 06/18/2012 - 02:04 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

my comment was not directed to you, vic

it was directed specifically to h_banger and it was about something inportant to us, i would hope: him and me;  not you

my comment was meant to convey certain meaning to the person to whom it was addresed

this isn't the chat room, ok?

you are not clear enuf right now to understand what we are talking about

and that's not my problem, vic

Mon, 06/18/2012 - 01:59 | Link to Comment Harbanger
Harbanger's picture

Slewie, I totally understand what you're seeing.  It sucks, it's wrong, it's been going on for so long it seems like there's no way out.     Here's what I see.. the vision of our founders... to empower "us the peeps" to govern ourselves.  They gave us the way thru our Constitution, for the 1st time in history techonolgy is allowing us to make the dream a reality.  If not, I prefer to die alone at peace with my creator than to be a slave.

Mon, 06/18/2012 - 03:02 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

we may prefer different fascist bastards, but if the dream is freedom, may liberty be the awakening...

Mon, 06/18/2012 - 03:49 | Link to Comment Harbanger
Harbanger's picture

I like you slewie, though sometimes you're a little dense.  You know I don't prefer any fascist.  I'm simply projecting future political moves.  How can liberty be the awakening of the dream for freedom?  Just think about the linear order of cause ,effect and consequence.  At some point I'd like to play a little prediction game with you for fun.  We'll start by predicting prices and events 2-3  months out. 

Mon, 06/18/2012 - 04:24 | Link to Comment CompassionateFascist
CompassionateFascist's picture

The point is, Mittens is a soporific; Obama viciously polarizes. I like polarization, especially the kind that leads to Civil War and Real Change. We all should like polarization. And vote accordingly. 

Mon, 06/18/2012 - 01:33 | Link to Comment Michael
Michael's picture

Not his election.

Mon, 06/18/2012 - 00:34 | Link to Comment Michael
Michael's picture

I know slewie, that kind of stuff I post must really make their heads explode. You know the big money can't avert their eyes form ZH, the #1 financial blog on the internet.

And because everyone in the country agrees with me whoever gets in the POTUS position means nothing will change, and the fucking over of the civilians will continue, we might as well have some fun with them and all voters should vote in Obama again.

Mon, 06/18/2012 - 00:38 | Link to Comment Vic Vinegar
Vic Vinegar's picture

Agree that ZH is the #1 financial blog on the internet.  It's much more than that, too.

But what about this buddy:

And because everyone in the country agrees with me whoever gets in the POTUS position means nothing will change

Who are you hanging with?  I wanna meet those peoples.  Most people I meet still feel pretty passionate about Mittens or Obama.  

Mon, 06/18/2012 - 00:42 | Link to Comment Michael
Michael's picture

Everybody I meet says presidents are just puppets of the international banking cartel, and we have never been proven wrong.

So revenge against Fox, the GOP, and the MSM is going to be a dish served cold.

Mon, 06/18/2012 - 00:47 | Link to Comment mcguire
mcguire's picture

"The battle is NOT between left and right, Democrat or Republican, Communist or Fascist.  The real battle is between the individual, and the state.  The unique and free human being, versus the fraudulent hive mind of the Orwellian fold."  good interview of G. Edward Griffin on Alt Market... 

http://www.alt-market.com/articles/849-the-collectivist-conspiracy-video

Mon, 06/18/2012 - 00:52 | Link to Comment Harbanger
Harbanger's picture

NO! You mean EVERYONE!  You're like every child I've raised when they were about 3 yrs old.  Give me 6 months with you and I'll set you straight for life.  This idea of "nothing will change" is fucking changing us into oblivion.  You're really not that smart at all, you're actually pretty typical of any spoiled child.

Mon, 06/18/2012 - 01:20 | Link to Comment Vic Vinegar
Vic Vinegar's picture

Set me straight: you gonna be at the new Katy Perry movie on opening night or not?

Mon, 06/18/2012 - 01:30 | Link to Comment Harbanger
Harbanger's picture

Nope.  Not even thinking about it.

Mon, 06/18/2012 - 01:31 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

you goin with Y/C? 

where you been? (don't answer that, ok...?)

Mon, 06/18/2012 - 01:51 | Link to Comment Vic Vinegar
Vic Vinegar's picture

I hope you appreciate that there are some of us that appreciate you.  We'll never meet you but it's true.

I would pay good money to read the life story of slewie or yen cross.  I mean those guys are so fuking cool and I don't care what today's hipster thinks.  It's true.

http://www.youtube.com/watch?v=mFIBwS0GVX0

slewie - this site has to be something more than just angry right-wingers complaining into cyber-space.  

I'll hang up now and just listen.  Even if you want to share at a later date, that's OK, too.

Mon, 06/18/2012 - 02:38 | Link to Comment Harbanger
Harbanger's picture

You really don't know hipsters.  they actually agree with you.  Todays hipsters are what? Most are millennial Ameri-Euro wanna be fags skate boarding in places like like portland or williamsburg brooklyn who can't get themselves arrested less mommy bails them out.  Hoping for a "crash" that will make them what?  bitches?

Mon, 06/18/2012 - 01:27 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

L0L!!!

see what fun partisan politics can be?

at least michael's mom sent his pitcher for the newsletter...  nobody has ever accused him of hiding inside a paper bag

...me either, come to think of it...    we may have funny ears and green hair but we're not fascists even tho we want a fascist for prez

honest!  we just don't want neoCon fascist!  we want a commie fascist like mao!  or a nazi fascist like angela!  don't kill us!  we pay taxes too!  we don't want another neoCon fascist for prez no matter how much the "financial community concensus"  goes against us!  we don't want nomo stinking neoCon fascists in the whiteHouse!   No, NO! NO!  N00000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

Mon, 06/18/2012 - 01:51 | Link to Comment Michael
Michael's picture

I was thinking about that a minute ago, talking politics Zero Hedge Style. Too good.

Mon, 06/18/2012 - 02:32 | Link to Comment NoClueSneaker
NoClueSneaker's picture

Michael, nogo.

But I do appreciate your thoughts. Me on the other side of the pond, not very smart, learned a ton of things from ZHedgers,

can't  practically use anything of that, while poor, sick, tired and alone. Anyway, when I see s1 who screams in rage aginst this stupid gang of forfeiters, I know that I'm not insane, and it's good enough for me.

Got kicked from almost every official forum of the TPTB media, just bringing the whole fake money topics in the debate, ground & pound style.

 The phenomenon: when you talk 1 on 1 with the ppl, every1 ist against the UFF Inc. ( unified fascist forfeiters ), but when they r 3 of "us", you can be sure there is one or two traitors in the group. ( Schyzophrenia makes the group of backstabbers even larger ).

Even the Max Kaiser talks about 6 forfeited trillions since 2008. AFAIK Honk alone generated sixteen of them, third of that used as WMD / leveraged buyout / predatory lending against already dotcom obliterated european market ....

  The dumb fuckers play border collies on LSD, pushing the sheeple over the cliff.

Yeah, I need your rants.

I got 1 Oz. silver, and I definately ain't gonna sell that eagle. Thx, ZH.

( Mario Draghi is the fastest forfeiter ever seen, kinda prize for him ?! ).

 

 

 

Mon, 06/18/2012 - 01:36 | Link to Comment Lednbrass
Lednbrass's picture

You honestly believe that electing that effeminate sack of New England sewage Romney will change anything substantive at all?

His entire term as Head Masshole was on the credit card (massive state debt increase of over 40% during his term), he appointed judges that differ little from those Obama does philosophically, whipped up the blueprint and test case for BO's Health Care plan, and he isnt too fond of the 2nd Amendment and signed an "assault weapons" ban.  He is a complete noodle spined waste of oxygen.

Screw Romney and anyone stupid enough to vote for him.  The only thing that incompetent twit will do is be the fall guy when the next hammer falls after the EU goes supernova. I prefer to let BO remain at the wheel when it rolls over, the best case thing Mittens can do is slightly increase the length of time it takes before the Titanic slips under the waves.

No thanks, I prefer that my kid have some hope of freedom in his life, and it aint gonna happen with some pandering imbecile like Romney trying to marginally preserve the lifespan of an entirely failed status quo.

Do yourself a favor. Take your TV and radio out back, load up a shotgun, and blast them.  They have killed too many of your neurons.

 

Mon, 06/18/2012 - 02:08 | Link to Comment Prometheus418
Prometheus418's picture

Vic- what do you do for a living that you don't know "those peoples"?  

Anyone that I've met that has at least a high-school education knows that politicians are full of shit these days.  I know one person- literally, just one, who still wants to follow the neo-con line.  Everyone else is casting about for new alternatives, with varying degrees of success.  Some of those ideas are great, and some are simply crazy- but everyone I meet is like a scared animal hunkered down for the storm they feel coming.

No everyone understands, but most smell the changes coming.  Hopefully, they're for the better in the end- though as far as I can tell, common sense is on the ropes and bleeding bad right now.  What I don't see is a lot of people supporting the status quo.  Maybe it's geographic- we're practically savages out here where I live, many people still farm, and most people still make things for a living.

Mon, 06/18/2012 - 04:57 | Link to Comment Offthebeach
Offthebeach's picture

You show up one second late with the monthly FSA check and you not only are going to see someone, your going to hear the deafening sound of near two hundred million Slurpee sucking,People Magazine reading. Welfare Section 8 SS for thirty year oxygen bottled geezers mud tribe white trashed trailer disabled vets of The 1976 Ft. POLK 333rd Tire Repair. Ben( Inf ) that will beclown your mind. The citizenism is the zombie horde and is brain virused to vote The FSA.

Sun, 06/17/2012 - 23:21 | Link to Comment Harbanger
Harbanger's picture

Good idea but 4 yrs too late.  Socialism will implode and take the US down just far enough to restore it like you've never seen in your lifetime.

Mon, 06/18/2012 - 01:53 | Link to Comment malek
malek's picture

I junked you not because I'm for Mitten, but because you make a pompous statement and then back it up with... nothing. I cannot see the slightest bit of concise reasoning why it would be best to vote for O.

And the linked article is poorly masked propaganda for O., picking on all kinds of faults on Mitten (sometimes just "supporting it"!), while totally ignoring the same ones on O., and completely downplaying RP.

Sun, 06/17/2012 - 22:38 | Link to Comment The Monkey
The Monkey's picture

Ideally, the Fed antes up tomorrow. They will stop short of something really big, but they will toss a bone out there and jawbone about what else may come, putting a floor underneath assets.

Greece will likely get a coalition out of this election. At least it's a good assumption. There will be some compromises to make it happen. All else being equal, asset prices have more headroom.

Spreads for peripheral EU bonds should narrow, taking Spain and Italy out of the limelight for a bit. If true, narrowing spreads would support higher asset prices & additional flow into junk. Not that junk is an opportunity, just not a good time to go short.

Additional steps by the EU will likely be forthcoming. Assume they could be meaningful until proven otherwise.

All told, asset prices can move up quite a bit from here before turning down. Do not get suckered into a short anytime soon. Any correction will likely be brief.

Sun, 06/17/2012 - 22:44 | Link to Comment Winston Smith 2009
Winston Smith 2009's picture

" Any correction will likely be brief."

"until the rubber band snaps and reality intrudes."

Sun, 06/17/2012 - 23:11 | Link to Comment Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Walls Street big boys are behaving like there is money sloshing around in the system. Soon, they will find the river is dry and the cattle is dead after the crash.

Sun, 06/17/2012 - 23:53 | Link to Comment The Monkey
The Monkey's picture

I'm not saying "go long". I'm saying this turd is going to fight the flush, so pick your entry carefully.

Mon, 06/18/2012 - 05:18 | Link to Comment Offthebeach
Offthebeach's picture

That ain't a turd you dropped in the pool it is a maggot stage baby Bernanke. They use you body as host for decades until they bore into your lungs, you cough them up and swallow them. In your upper GI they develop their sweat glands, reptile brain and facial hair ( look close you'll see it). After expulsion ( alcohol helps) the bernanke makes its way to elite schools via sewage tunnels where they fully blooms into a full adult MFer.

Sun, 06/17/2012 - 23:30 | Link to Comment RoadKill
RoadKill's picture

Raison D'entre for QE3 now dead. If no QE June 20 then no QE in 2012 unless asset markets TANK.

Mitt has thrown down the gauntlet - no money from US to Europe to bailout countries or banks. That means Obama will get CRUSHED if he gets involved.

Spain yeilds continue to rise as we realize the bank bailout is 2x-3x what was expected. Spain goes on full bailout support for deficit spending AND refi. Yeilds continue spiraling upwards.

Not sure what will be the catalyst for Italy and France. Italy prob gets screwed in sympathy with Spain. But this is the real fulcrum. If Itai yeilds moderate, we may kick the can for 1 more year.

China real estate mkt is blowing up FAST. Prices down in 50 cities vs 40-ish last month. Down 2% vs 1.4% last month.

US fiscal cliff MUST be resolved in next 4 weeks or Congress leaves for electioneering.

Its a mess and any rallies should be sold. So lets put a gentlemens bet on SPX higher vs lower then open on Monday. If it hits -5% before it hits +5% I win. +5% before -5%, you win. GAME?

Sun, 06/17/2012 - 23:38 | Link to Comment RoadKill
RoadKill's picture

Monkey in this example if the SPX opens up 0.5% you'd have 1,418 and id have 1,282. We can round to 1,420 vs 1,280.

Mon, 06/18/2012 - 00:00 | Link to Comment The Monkey
The Monkey's picture

No, I wouldn't take that bet. Agreed, more likely to see -5 before +5. And a lot more likely to see -30 before +30.

My point is the entry will get cheaper, so take your time.

Sun, 06/17/2012 - 23:06 | Link to Comment vast-dom
vast-dom's picture

can't be bothered to read anymore of this crap. flip a fucking coin. it'll levitate until it doesn't. i could give a fuck what bs ensues. when it all crashes out i'll start moving my positions around.

Sun, 06/17/2012 - 23:30 | Link to Comment you enjoy myself
you enjoy myself's picture

well, flip a coin that's 4X's heavier on the short side.  we're not exactly dealing with free markets here.

Mon, 06/18/2012 - 00:10 | Link to Comment vast-dom
vast-dom's picture

not at all. and what's more there has never been precedence to this insanity -- since 2008 there has never in the history of financial markets been this kind of manipulation and rigging. anyone who cites the past, references charts and attempts to find patterns to this motherfucking shit of the last 5 years is desperately failing. the last 5 years is unlike anything ever seen before. it is one continuous big black swan of multitudinous financial and political crime. and no i'm not exaggerating one bit; quite the opposite. we are dealing with fed central planning inane corporate entities enslaved markets here.

Mon, 06/18/2012 - 00:28 | Link to Comment vast-dom
vast-dom's picture

PS "Dear FUCKTARD BANKER, 


Thank you for saving your money with HSBC. We wanted to let you know that your Online Savings Account Annual Percentage Yield (APY) was lowered to 0.50% APY1 as of June 14, 2012.

Your Online Savings Account remains an attractive option. Rate changes like this are very thoughtfully considered and are made in response to market conditions and prevailing interest rates. Regardless of the environment, HSBC will continue to let you know about rate changes to your Online Savings Account.

[...]

Sincerely,

Andrew Ireland
Executive Vice President
Head of Premier & Advance Banking
HSBC Bank USA, N.A."

translation: we as a bank doing everything to not provide you with banking services as we not so cleverly or sincerely put the onus on the Fed for subverting interest rates and hence your savings and the free markets thanks to our liquidity drug dealer whoremaster Bernank over at the Fed -- we actually make him do our bidding, but hey he was elected by the prez.

we have very thoughtfully bent you over so that we may gangbang you extra hard in ungodly orifices. thank you for being a good sheeple with almost no interest to bear on your savings. and not to fear soon we will charge you for holding your savings at our bank since Bernank has effectively and so very thoughtfully killed the most basic banking instrument: the multiplier.

PPS anyone with an HSBC account want to give this douchebag VP a shout please do so at: andrew.ireland@us.hsbc.com

PPPS anyone with any bank account please reach out to your said bank VP and let him or her know that you know what they are doing. AND THEN PULL YOUR FUNDS OUT!

Mon, 06/18/2012 - 04:37 | Link to Comment mvsjcl
mvsjcl's picture

Who the FUCK gave you a down vote????

Mon, 06/18/2012 - 07:47 | Link to Comment vast-dom
vast-dom's picture

werd -- lot of haters in here, and racists and fucktards.

Mon, 06/18/2012 - 08:40 | Link to Comment Calmyourself
Calmyourself's picture

Andy Ireland of course...

Mon, 06/18/2012 - 07:06 | Link to Comment eclectic syncretist
eclectic syncretist's picture

Already pulled them out of BAC last year.  They use your funds for fractional lending and don't have to pay you squat thanks to the Fed.  It should be illegal, and they should all be imprisoned.

Mon, 06/18/2012 - 05:24 | Link to Comment Offthebeach
Offthebeach's picture

Yes but we do it the best! USA USA! WE'RE NUMBER ONE! USA!

Mon, 06/18/2012 - 05:53 | Link to Comment disabledvet
disabledvet's picture

you mean "successful rigging" then. Tell me...how have those bank stocks been doing with their "successful rigging of the markets" again?

Mon, 06/18/2012 - 00:54 | Link to Comment potlatch
potlatch's picture

<salute> Euripides

 

It is a tragedy.  But it is an old school one?  Or, is the deus ex machina going to work... again and again and again.

 

Correct me if I am wrong, but what we have here is a market chasing narratives of tragedy, from region to region, from economy to economy, to country to country, from market to market, etc., but this wild goose chase (!) of these narrative arcs, which just keep moving from one locale or part of the market to another, is a shell game for the absence of any day of reckoning for our blind hero.  But this evasion, is now outrageous, no longer an errant journey, a quest of quixotian proprtions, but now, a farce, a fraud, a con, a blight

The Fates only allow the hero to escape in certain cases; some cases, the Fates are going to bring the Hammer down.  No deus ex machina saves that kind of tragic hero.

Mon, 06/18/2012 - 01:31 | Link to Comment AlaricBalth
AlaricBalth's picture

I agree.
Heracles will not be arriving to save Alcestis (Greece). In this retelling, she is doomed.

Mon, 06/18/2012 - 05:50 | Link to Comment disabledvet
disabledvet's picture

But Aristophones could have...especially when "simple mocking will do."

Sun, 06/17/2012 - 22:10 | Link to Comment Rubbish
Rubbish's picture

Does this mean everyone will sneak around and buy up gold as the price melts?

Sun, 06/17/2012 - 22:11 | Link to Comment stocktivity
stocktivity's picture

It's all Bullshit! Just what I keep saying.

Sun, 06/17/2012 - 22:11 | Link to Comment localpacific
localpacific's picture

Well yes what is happening overseas is bad, and could have been done differently but more importantly how is this effecting US Markets? 

Value Line Geometric Index Predicts Major Stock Market Top

Sun, 06/17/2012 - 22:12 | Link to Comment Cult_of_Reason
Cult_of_Reason's picture

Europe is Fixed Again !!!!

Dom Pérignon Champagne Party Time!

http://chart.ly/uploads/jdx8l7h.png

Sun, 06/17/2012 - 22:18 | Link to Comment midgetrannyporn
midgetrannyporn's picture

It is a tale told by an idiot...

 

I agree the eurodrama is getting to be a real snoozer. Daze of our Lies? General Malaise Hospital? As the World Snores?

Sun, 06/17/2012 - 23:28 | Link to Comment MsCreant
MsCreant's picture

As the Stomach Turns

Peyote Place

Doap

The Dumb and the Arrestless

Restraint Elsewhere

 

Sun, 06/17/2012 - 22:20 | Link to Comment Cabreado
Cabreado's picture

"Nothing will change until..."

Mr. Smith,

The re-runs themselves are a causal thing -- that is shoving us in a bad direction.

Broken "leadership" is not allowed to let the undercurrent stand still.

I know you know...

 

Sun, 06/17/2012 - 22:21 | Link to Comment yogibear
yogibear's picture

Crisis down to the wire (dog and pony show), saved with a bailout. Rinse and repeat. The rest of the PIIGS, squeal loudly and get a bailout as well. Threaten to blow up the Euro and the banksters come running with a nice bailout pot of cash for you!

PIIGS you can now dictate the terms to the ECB, your running the show.

Send the bill to the rest of the Euro banking fools.

Sun, 06/17/2012 - 22:22 | Link to Comment El Oregonian
El Oregonian's picture

It only gets bitter from here...

Sun, 06/17/2012 - 22:31 | Link to Comment wisefool
wisefool's picture

Has any postmodernist LAS major put a psych/IQ profile together for Timmay? The Jet is fueled up an ready to let him give deliverance to the PIIGS.

I was for the Tax code untill I was against the Tax code. Bib wearing, swift boat riding, Navy seal pup douchebag dejour.

Anybody got live feeds or CNBC/MSNBC?

Sun, 06/17/2012 - 22:27 | Link to Comment HungrySeagull
HungrySeagull's picture

Remember, the cash that the squealing piggies are rotting produce left over from the big fat greek dinner.

Reruns are hell on the make up crew as they pass the lipstick up to the poor lout that has to paint the lips.

Sun, 06/17/2012 - 22:28 | Link to Comment toomanyfakecons...
toomanyfakeconservatives's picture

"until the rubber band snaps and reality intrudes"

 

The rest of the world? I couldn't care less. However, I've bought into the following scenario for the rubber band snapping in the U.S., and it involves Obama, Brenanke, and the whole lot of them in chains well before s-election time. http://tinyurl.com/cd5cyjo/

Mon, 06/18/2012 - 00:48 | Link to Comment Vic Vinegar
Vic Vinegar's picture

Why do you use tinyurls?  I don't trust them and don't click on your links.  

What are your thoughts on Fifty Shades of Grey, toomanyfakeconservatives'?  Is there a run on rope in your small town?

http://www.businessinsider.com/fifty-shades-of-grey-has-increased-rope-s...

Mon, 06/18/2012 - 01:04 | Link to Comment potlatch
potlatch's picture

People who use tiny urls do not operate from underground lairs, thus their posts are usually trifling.  Anyone who operates from a Basement of Doom and CocaCola uses full links.

Sun, 06/17/2012 - 22:30 | Link to Comment apberusdisvet
apberusdisvet's picture

 

 

The number of euro they really need?

Too fucking many to get up to speed

As the euro is dying,

the psychos are crying,

Taking it  far up the ass til they bleed.

 

Sun, 06/17/2012 - 22:30 | Link to Comment Calmyourself
Calmyourself's picture

Frankly it is all rather boring.  I will be checking in here once a week or so from now on I think.  Too much scare and too little deep analysis on just how the PTB can / will manage each hurdle as it comes up.    Thanks Tylers but seriously, explain the CPR of the CB's not just results, I know it's tough but too many denouments, red herrings, and deux ex machina's get tiring. 

Sun, 06/17/2012 - 22:52 | Link to Comment gjp
gjp's picture

Interesting comment, and understood. I think the scare and denouments are reflecting a build up of emotion and outrage at the self-serving and short-sighted lies. The details almost don't matter at this point if you see things this way. The questions are more philosophical and survival-oriented in nature.

Sun, 06/17/2012 - 23:31 | Link to Comment MsCreant
MsCreant's picture

I was tempted to mark calm down and did not. Calm is pissed like we all are, and sick of it. You are on the money here.

Sun, 06/17/2012 - 23:48 | Link to Comment knukles
knukles's picture

It is what it is; the serenity to accept the things we cannot change.

Sun, 06/17/2012 - 22:36 | Link to Comment bigwavedave
bigwavedave's picture

The game plan was (and still is) borrow more time to save the banks. National bank champions will consume the smaller. Euro wide bank champions are already set. You know who they are already. When the reset comes as it must, those bank champions will remain or rather, rise anew.  

Plus ça change, plus c'est la même chose

Sun, 06/17/2012 - 22:37 | Link to Comment AUELOX
AUELOX's picture

CRISIS FATIQUE HERE!

Sun, 06/17/2012 - 22:37 | Link to Comment jimmyjames
jimmyjames's picture

On the macro scale, the Eurozone's systemic problems boil down to these realities:

*********

Those realities from 1-5 cannot be regulated into being-that must be forced and the only thing that can force them-is a hard backed money supply--

Sun, 06/17/2012 - 22:45 | Link to Comment Bansters-in-my-...
Bansters-in-my- feces's picture

Off topic....but.....

..........."I pooped today".....funny T shirts.....

NOT so funny.

....."Wheres my meh...!!!

More meh cammel toe.....!!!!!

Sun, 06/17/2012 - 22:43 | Link to Comment monopoly
monopoly's picture

Totally agree with this post. I am disgusted, bored and fed up with the same storyline week after week and solving nothing. It will just keep on until it doesn't. I am ready, have been ready and will remain ready for at some point all of our preparing will pay off. It is time to change the channel to the next bullshit program. ENOUGH IS ENOUGH.

This planet is turning into a total farce.

Sun, 06/17/2012 - 22:50 | Link to Comment Winston Smith 2009
Winston Smith 2009's picture

Hell, every day since late 2008 has been a reality avoidance farce.  What is surprising is how long they've managed to keep the Ponzi going, though I guess that trillions of dollars of taxpayer-liable debt can keep things up in the air for quite a while.

Mon, 06/18/2012 - 09:03 | Link to Comment e-recep
e-recep's picture

... for a long long while, actually. roman empire did not fall overnight. and those who are waiting for a reset, naah, it won't come with a snap. you'll witness a rot, not a reset.

Sun, 06/17/2012 - 22:46 | Link to Comment mammoth mo
mammoth mo's picture

Can meet boot

Boot Can.

 

I see you two are already familiar with each other.

Really you guys go back that far.

Sun, 06/17/2012 - 22:46 | Link to Comment knukles
knukles's picture

Ya'll know, an interesting predicament giving rise to interesting conditions.

Draw out the drama, continue the warnings and forecasts of impending doom, threats that the very system collapses and soon it becomes boring, the repetitious news of the day. 

Pabulum becomes Content.
Affirmation Supplants Information.

A Lack of Momentum, Void of Solution, Persistence of Erratum soon becomes the Stasis of the Normalcy Bias.

Eddie Bernays would be ecstatic!

Sun, 06/17/2012 - 23:12 | Link to Comment gjp
gjp's picture

Well put. Truly infuriating conditions they are.

Mon, 06/18/2012 - 00:11 | Link to Comment Calmyourself
Calmyourself's picture

Knuk, I have contempleted that scenario and every shade in between.   In some of them my moves can make a difference and in others I cannot.  I will keep my ears pricked for those in which quick action will assist in furtherance of goals.  The end of this is either hunger or a slave planet running on plebe autopilot to feed the sheep a level below the plebian class.  I have mentioned many times the weakness is the supply chain we shall see who heeds.

Sun, 06/17/2012 - 22:47 | Link to Comment Iconomissed
Iconomissed's picture

Jump the shark already, and somebody start takin some medicine.

Sun, 06/17/2012 - 22:50 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

altho it is fun to stretch my rubber band, and way more fun to break it, breaking is not always advisable for others who may need simply to unstretch a little around certain corpoations and just wake up and smell the coffee politically

at least it sez here that is what we should pretend to do next...

wait!  is that a not?  which planet is this from?

when charles is this bored, maybe everything is screwed down pretty tight...?

Sun, 06/17/2012 - 22:53 | Link to Comment f16hoser
f16hoser's picture

Keep stacking your Phyzz. Gold/Silver that is! When the tower of Babel falls (Jim Willie term), he who has metal will be KING! He who doesn't own any Gold/Silver will be extremely Agitated!

 

P.s. It's the news you don't here about that should have your undivided attention....

Sun, 06/17/2012 - 22:54 | Link to Comment Skateboarder
Skateboarder's picture

It has been boring for a while now. It'll get all exicting when the banks start going insolvent and when the derivatives bubble starts deflating. It was people who invented the parasitic element, Bankium. It too can people who uninvent it, but we all have to want to uninvent it, and that requires responsibility. I'm willing to be responsible towards myself, my family, my neighbors, and my community. Are you? Or do you need your hand fucking held from birth to death?

Mon, 06/18/2012 - 00:14 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

are you saved?

Mon, 06/18/2012 - 00:29 | Link to Comment Skateboarder
Skateboarder's picture

Nope - haven't planned on being either. Maybe I should reconsider.

Mon, 06/18/2012 - 03:46 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

not on my account, please, sir

you asked me if needed my fuking hand held from birth to death

i didn't answer you, but, yes, i think i do in a strange sort of way;  almost irresponsibly...

Mon, 06/18/2012 - 04:38 | Link to Comment Skateboarder
Skateboarder's picture

Dude they're taking away the park next to my house. The city of San Jose is giving up most of the park to the private high school next door so that they can replace the sick baseball field with disgusting astro-turf and turn it into a full-size soccer field for the high school with their usage times reserved. The baseball field will be gone, and along with it a bunch of redwoods that line the back of the park, because they're gonna expand the parking lot for reserved spots for the private high school people.

Now this aint just a regular shitty park - it's high utility with various groups of people who have figured out their schedules through years of usage. Tuesday Senior baseball, tri-weekly afternoon youth soccer practices, private coaching for soccer, football, etc., volleyball on Thursday/Friday/Saturday evenings, cricket practice and tournaments from the Indian community, night baseball games, weekend fiesta soccer matches from the Mexican community. It's to be a soccer field, but the baseball usage is just as part of the park as is soccer because the people have made it that way.

We petitioned, I went around the neighborhood and passed around flyers to sign our online petition. Another group from the community also got another petition signed and they were presented at separate meetings, 500 and 1200 strong respectively. Both were brushed aside and the councilman was being an arrogant shit toward the people trying to tell him that everyone in the community wants to keep it the way it is. A high school kid about to graduate and turn 18 said at the meeting "I'm gonna be able to vote soon, and I'm not gonna vote for you." The councilman replied that his vote didn't count anyway.

It'll be sad to see that park go man. But not enough people tried or cared, and those of us who did were swept off like dust. It was cool to see people come together and try to stand up, but the reality was actually when I was going around to hand out flyers: no one cares.

Sun, 06/17/2012 - 23:08 | Link to Comment mammoth mo
mammoth mo's picture

 

Anyone else getting the feeling that we are looking at Japan like stagnation for the world for a while?

Sun, 06/17/2012 - 23:08 | Link to Comment erg
erg's picture

Let's play twister, let's play risk.

Mon, 06/18/2012 - 04:57 | Link to Comment mvsjcl
mvsjcl's picture

Monopoly, Twenty-one, Checkers, and Chess.

Sun, 06/17/2012 - 23:18 | Link to Comment disabledvet
disabledvet's picture

That's all there is folks! Now let's start talking the REAL story of the blossoming of a massive debt crisis in the USA vis a vis State and local governments. THAT's the story now. "It'll begin with a huge blow up of the Canadian real estate bubble" and proceed from there...

And remember "you heard it from disabledvet first!" AGAIN!

Sun, 06/17/2012 - 23:17 | Link to Comment RoadKill
RoadKill's picture

More important then all of this....

China's property blowup gets worse. Prices down in 55 cities vs 46 last month. Down 2% YoY vs 1.4% last month.

How much bigger is China then Greece?

Sun, 06/17/2012 - 23:18 | Link to Comment OneTinSoldier66
OneTinSoldier66's picture

I really liked this article. Just a couple of days ago I got Charles Hugh Smith's book...

 

Resistance, Revolution, Liberation: A Model for Positive Change

 

I'll have to crack it open soon. Reading Peter Schiff's, "The Real Crash" atm.

Sun, 06/17/2012 - 23:36 | Link to Comment cherry picker
cherry picker's picture

When I went into business years ago, I understood that if I could not make it viable and self sustaining that the downside would be harsh.

I employed people, circulated money, all those things and in the end got wiped out.  That is the name of the game, no guarantees.  The only bail out would be a sneer.

On the other side of the coin, if the business had been succesful the rewards would have made the risk worthwhile.

If it doesn't work out, take it like a man and deal with it best you can.  If you need help, there is always someone who can see that you are worth it as it takes a special breed of cat to envision and try.

Today, that seems to be gone.  It is expected that rewards are there, there is no such thing as risk, and spend, spend, spend.

Tell that to the mouse the next time he makes a dash for the cheese while the cat is waiting to pounce.

Sun, 06/17/2012 - 23:40 | Link to Comment rsnoble
rsnoble's picture

I'm def gona have to change the channel spending way too much time reading about this bullshit when I could be getting something more productive done. It's worse than crack.

Sun, 06/17/2012 - 23:46 | Link to Comment MsCreant
MsCreant's picture

I come and go myself for the same reason. Stay in touch. I sometimes think it is when we, the real 1%, the asshats who get this shit, decide to tune out, that the party will begin in earnest.

Mon, 06/18/2012 - 00:34 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

are you familiar with accidie or acedia in english?

i think it is a kind of theological boredom or something...

 

Mon, 06/18/2012 - 06:11 | Link to Comment Optimusprime
Optimusprime's picture

I like to think of it as rationalizing laziness.  But the reasons are usually pretty compelling.

Mon, 06/18/2012 - 01:04 | Link to Comment cherry picker
cherry picker's picture

I pretty much agree with you, then I read of Greece and Spain unemployment being over 20%.  I read other stuff that re-enforces ZH, then other stuff that contradicts.  Even Facebook took in how many "billion".  There is money out there.

I am starting to have difficulty determining what is true and not. 

Yes, we could be living instead of reading this.  All it does is bring you down and people are still shopping, going to movies and grocery stores.

Sun, 06/17/2012 - 23:48 | Link to Comment tiger7905
tiger7905's picture

Interesting read on possible French bank capital controls...

http://goldandsilverlinings.com/?p=2026

Sun, 06/17/2012 - 23:52 | Link to Comment q99x2
q99x2's picture

'No household or economy can sustainably spend more than it reaps in surplus.'

Sure it can. Nations can throw the elite into prisons and confiscate their wealth.

Or I think you have to wait a few more years for that to happen.

But, in the meantime and to prevent that from happening the elite can blow it all up and make money by rebuilding it.

That's worked on several occasions.

In any case controlling a non-productive world has to be costing the elite lots at this point.

Here is a nice 30 minute audio documentary on the panic of 1837

Must be a genetic defect in humans that they can't learn when they are surrounded by others of like mind.

Mon, 06/18/2012 - 00:06 | Link to Comment holdbuysell
holdbuysell's picture

Replace Eurozone with United States and it will read the same. (in nearly all instances.)

Solid article. Thanks.

Mon, 06/18/2012 - 00:11 | Link to Comment Mentaliusanything
Mentaliusanything's picture

Question for Z- hedge readers.

Why does the Greek Government require 300 seats filled with Politicians ?

 

 

 

 

 

 

 

 

 

 

 

Mon, 06/18/2012 - 00:14 | Link to Comment otto skorzeny
otto skorzeny's picture

being Greek -the nice part is that they all can sit in one another's lap in one chair

Mon, 06/18/2012 - 01:21 | Link to Comment otto skorzeny
otto skorzeny's picture

the only good part about all this yawner of a market is that CNBC's plunging viewership will hit the double digits and Cramer, Maria, Kudblow  etc will be replaced by a nonstop loop of "The Business of Porn" and a ticker scroll that shows only FB's share price

Mon, 06/18/2012 - 00:22 | Link to Comment Monedas
Monedas's picture

The guys upstream were on to something....a Greek Tragedy soap opera....you can miss a  few days and not miss anything !  On and on it goes....I want my chaos NOW !       I want to see "The European Spring" or "Continental Chaos" !  There is just not enough blood in the streets to keep me interested....Molotov cocktails and firecrackers....Socialist street theatre !  The European socialists are so bourgeosie (sp?) and are too comfortable and well off and smug to risk revolution !  I love it !  I've got nothing to lose and the Socialists are worried sick !  I love this kind of shit !  Bring it on bitches....gold in the ground doesn't burn and it doesn't have any windows to break !  Free at last !  I get to be the carefree rabble rousing punk with nothing to lose !      Monedas    1929      Comedy Jihad Confessions Sessions

Mon, 06/18/2012 - 00:37 | Link to Comment Dr. Engali
Dr. Engali's picture

I'm so sick of it that I am about ready to throw in the towel. I'm tired of getting worked up to the point where I think...this is it. The reset is finally fucking here. When the FX shops said they were closing shop for the weekend I thought for sure things would get interesting. I guess I thought that the Greeks would finally grow some balls....but I see that I was wrong. They are just as pussyfied as any other western nation. All of them have been sufficiently neutered to live off the teat of the state.

Mon, 06/18/2012 - 01:29 | Link to Comment headless blogger
headless blogger's picture

It just happened today, they might be out in the streets by weekend; Give 'em a chance to get their shoes on. Plus, it may have been a stolen election.

Mon, 06/18/2012 - 01:36 | Link to Comment Dr. Engali
Dr. Engali's picture

I hope you're right,but it sure looks like it's business as usual. The banks win again. My 83 year old ultra conservative dad even says "eh who cares about Greece"?

Mon, 06/18/2012 - 05:05 | Link to Comment mvsjcl
mvsjcl's picture

Who's to know what the vote count really was? At this point nothing to trust.

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