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Ugh. Both LIESman and Caruso-Cabrera are yapping on CNBC. Both are beyond annoying and disgusting. Seriously, who would want to tap her junk?
Their fear of default is in no way irrational.
They're not working for Europe or their countries.
They are working for the banks.
But even then they still can't co-operate.
...and the fact they're "interviewing" Dear of CALPERS for his "expert opinion" only reinforces how f'ing total left-wing-harry-nut retard they have gone.
"The vote amongst the children was unanimous. So, are we moving to Disneyland? No! There votes don't count. They are not the decision makers."
Does that mean in Disneyland votes don't count?
Which reminds me of this poll via the heinous Ace of Spades site
Ron Paul is NOT listed. Neither is none of the above.
Sucks ass don't it.
In that Disneyland votes don't count because those particular cartoon characters aren't worth the effort and time wasted to click oold Mickey Mouse for a selection.
The kids don't need to move to Disneyland.. just watch the President, Senate and Congress any day of the week on TV for all the Goofies, Mickey Mouses and Loony Tunes characters you can stomach ..and then there's EuroDisney, NipponDisney and ChinaDisney ...plenty of non-stop comedic cartoon entertainment, laugh your guts out
But more than an hour watching these 2D stiffs cardboard cartoon cut-outs go through their theatrical acts to fake 'democracy' and your flatscreen tv may not be all in one piece.. it's a farce, and has been for decades
Govt : the Biggest Social & Economic Mistake of the Century
Thanks Peter. Great stuff.
you would get bored there and it's overpriced. semase street is more fun for the money,lol
Disney World is much nicer....
As someone commented on a different article...Eastern European situation is being largely ignored...and it is nightmarish....Austria has rather large exposure there.
It's not Disney World, it's The Onion World:
(Hint: Onion first suggested AQ would be pissed at conspiracies on 9/11)
screw disney world....i'm going to Graceland
elvis aint dead,and he has the solution to the eurocalypse!
Europe is in RED! WE NEED A RUMOUR, NOW!
Queue Financial Times/LIESman in 3, 2, 1 . . . .
Not to worry! US markets all green for lift-off of course! Nevermind theres not ONE reason in the world for it, we now live in Disneyland.
As part of "New Normal" red will be renamed into green, green will remain green.
The comparison between a 6 year old trying to lie their way out of a lie...out of a lie...out of a lie... to the whole 'EU' thing is freightening...!
Is the authour saying that it doesn't matter what the people want (kids and disneyland) and that the politicians are the adults here? Mercy! That is why we are in the situation we are in: because supposed decision makers decided that what was best for them was best for all (I'm still wiaiting for my $200 mm windfall bonus payment... stil waiting..)
That''s not what I got from it. It seems he's saying that it doesn't matter what everyone else in the Eurozone wants; Germany is the one with the money and that means they get the final say.
"Is the authour saying that it doesn't matter what the people want (kids and disneyland) and that the politicians are the adults here"
No the author is saying that because he ignored his kids they will dump his cranky ass in the cheapest nursing home they can find. Of course that's a decade or so down the road and he might be homeless composing articles at whatever public library survives the big shutdown.
He already ate his Ipad.
Thats right, Peters kids will make him pay DEARLY!
Anyone see this? BS I suppose.
Communists work for Goldman Sachs.
There is a Forbes interview...the guy is a day trader...no one famous...how the BBC found him is a mystery. He seems to know less about trading than I do (I don't know much).
He said in another interview he likes to get publicity and shoot his mouth off on TV. Somehow he gate crashed the Beeb and now he gets to rub shoulders with Jim Rogers and Hugh Hendry, metaphorically speaking.
I thank my god(s) I have no part...never taken part...never will take part, in any Huffington post anything... The Borg of dis(information) spreads like the cancer Rastani was so eloquently warning us of!! I will never go to the Huffington post ever again!!! I mean it!!!
I think I will finally think about donating some Ag to Tyler(s) for all of their truly wonderful work!!!!
Yes!! I'm having fun with the (x)'s
Doesn't matter though whether it's HuffPost or ABC, they all started bashing him. Reminder to anyone choosing to speak publicly anything contrary to a teleprompter.
Just love the YES MEN, the Management Leisure Suit and the Reburger are priceless......
WE NEED MORE YES MEN!!!!!!!
read Dallas Fed, Fisher's letter.
I prefer Disney World myself. And when you talk money and preference for delusion that's like talking peanut butter and jelly. the bottom line is this: the Titanic sees the iceberg and the Germans are blaming the Greeks for it.
Fins passed the improved ESFS....I suspect it will creep higher.
Excellent summary. The observations of a cool head are refreshing. I would like to forward a link to my associates; but, like many posts here, this one needs a proofreader. Misuse of there/their and won't/want are distracting and detract from the intellectual quality of the piece. Many of us, including myself, are too eager to post and overlook the fundamentals. A good post nevertheless.
Don't nitpick, the substance is still their (oh sorry, THERE)
Yes, excellent summary - don't know why grammar has to be an issue
What I am missing in this picture is the "pushing" by the City of London and the Squid (who started the whole Greek-is-worth-it business) - there are huge interests that have to be protected
the ECB situation, IMO, is not that bad - IF IT STOPS THERE. Meanwhile, the USD needed some windowdressing, so a faltering EUR had to be somehow constructed, eh?
I'm not sure what I would do as Italian PM - probably the same, since the external situation cannot be changed and the internal situation would take more then 5 years to change - in their view it's a matter of small degree.
the French finances are not that bad, IMO, it's the question what they are supposed to do with their banks (which are the Maginot Line of Italian Debt)
Spelling and grammar are important if you want to get the meaning right.
What about the Scotchman who walked into the Ladies thinking it said Laddies?
Grammer Nazi!!!! lol
Micky Mouse would run Europe better.
if TARP, TALF and QE is what Micky Mouse would do to "run Europe better" then I'm happy we don't have my beloved Micky Mouse in charge.
a lot of comments in the media go like "if the banks fail, we'll be back to the stone age"
the EuroZone has seen two world wars, a few hyperinflations and the shift of several key borders, and you know what? it's not the end of the world, it's only "the end of the world as you knew it"
I can see the seven dwarfs in Euro-Disneyland. Merkozy the two headed one, mixture of grumpy and dopey; Van Rompuy as Doc. BUT No sign of Snow White. There is a guy from Euro commission, selling us juicy, poisoned apples called EFSF for FREE!, named Jose BArroso. Could he be the black witch, Queen Grimhilde, in this psychodrama with no happy ending?
Unsung villains and Rune alphabet, to confuse and abuse the innocent. I'm no Futhark fan but a true pagan lover, Odin-Thor and law of honour.
Love to meet a true Walkyrie...that is, before the end at Valhalla!
The Silver price is being pushed lower via a weak dollar, rather than in a series of outright shorts. .. for the time being
Mankind has been in Fantasy Land for atleast a century.....living in a system completely created by the elites for their benefit and purposes....man have been pushed to accept changes , forced into compulsory education, creating an environment where living in Cities is the way forward for people who can...( which may be common now but NOT NORMAL)......we have been in fantasyland for quite sometime ...seperated from NATURE....doing things for which we are not built....anxious all the time...
Is that correct that a massive amount of shorts has been taken out for Oct?
I want to move to Disneyland and have the job of wandering Donald Duck.
It seems to me what's going on is the banks are using the PIIGS (and US mortgage-holders) as an excuse for a looting-binge before what they knew was an inevitable demographic-collapse of the fractional-reserve Ponzi-scheme.
Who is really paying 100% interest? German workers and savers, not Greeks.
Tho pols are only too happy to accomdate and cash-in too, since in the future they can blame their austere, imposed-serfdom on the banksters in Brussels or Zurich.
Their fear of default is bordering on irrational, and maybe they need to be reminded of it. Maybe they should also be reminded that they represent their people and have some shred of responsibility to do what their citizens want.
What Euro bankers/politicians should be reminded of is that their constituate states are rather famous for overhauling their political systems every few decades or so...often in a very colorful manner (how many types of government has France had since 1789?).
But he’s right, although default can be ugly it’s usually not even close to the worst case scenario and also the least worst option. Hell, personal bankruptcy in the United States has practically developed into a rite of passage in the last few decades. Currency devaluation used to be a core competency of places like Italy...and now that's been taken away. You'd think there would be a greater push to jettison the Euro just on cultural sensitivity grounds!
And "Lehman moments" in the marketplace are as natural as brush fires in forests. Constructing artificial barriers to thwart them at all costs just makes the inevitable all the worse in the end.
Something's gonna give...
pass a Mickey Mouse outfit to little Tim cause that is about the only job he will be able to do!
Actually that's the most valuable one. Perhaps you meant Cinderella?
Excellant analysis. A pleasure to read, as always.
One small suggestion as to the key to this whole crisis. The word that wansn't mentioned is the Euro currency, or rather it's demise. The key is the French, and their megalomaniacial need to be a super power. They could not do this on their own (Waterloo put the last attempt to rest), and after the war decided to 'corral' the Germans into a political union to give them the firepower. (DeGaulle's dream). Their means by getting to a political union was first a free trade zone (a great idea on its own). The 'grandeur' opportunity presented itself when the Berlin Wall fell. They supported the Germans against the Brits, who didn't want the Germany's to reunite. And the price that the Germans paid is the Euro. But as with any well laid plan, it had unintended consequences. And most 'sane' economists knew what they were (anyone remember the ECU?). Anyways, the unitended consequences appeared due to the Germans gaining relative competitiveness via a fixed internal exchange rate. And this allowed the Germans dominate the greater Euroland through an effectively cheap currency (75% of German exports are to Euroland). This internal exchange rate is the largest cause for all of Euroland's problems since it make the PIIGS uncompetitive. And the rest, like they say is history........
also a pleasure to read your comment, even if I disagree
this meme with the currency helping exports is somewhat fallacious - yes, in the short run a softer currency helps, in the long run it hinders your ability to calculate sharply your costs and to reinvest your gains in your own business
in the US nobody would dream of having separate currencies per State or group of States
in a gold standard world, the depreciation of a currency would have clear consequences
If you produce something of value, you can exchange it for something of value. At the moment this "something of value" is being debated, yes.
Portugal, Ireland, Italy, Greece and Spain have several other reason why they are in a mess. Ireland because of a building frenzy (nobody was saying the EUR is a prob for the boom they had), the others because they overspent and in some cases have simply too much "submerged economy"
No, the most important sentence you've written is here "...the Brits, who didn't want the Germany's to reunite"
The British, the British Media, and by reflection their cultural cousins' media (including Murdoch) etc. have an historic tendency of being wary of any "unification" of Continental Europe, particularly if the French are involved. It's a reflex. "Oh, the Continentals are doing it, it can't work, ever."
About the EUR: IF the ECB stops buying bonds (and no, what they have done so far is still somewhat ok) then there is no reason why it should not keep marching on for the next 70 years or so.
Actually, the most important sentence that I have written is the one that alludes to the direct cause of the present EuroMess. And I assume that you agree that it is a mess. The prime cause is the French maniacal dream to be a superpower. And even how, as their banks disintegrate from holding tons of worthless paper, they still can't let go and save themselves. But I guess the CAP payment to their backward farmers plug their budgetary holes. But I digress.
But back to the Brits. PM Thatcher was a product of the past, but aren't we all? But it's one thing to live in the past, but quite another to misread the present. And this combined with pursuing the classic British policy toward the Continant, i.e. divide et vice (remember the 5 alliances agianst Napolean?) she misread who the enemy of Britian is, i.e it wasn't Germany but France. And she gave Mitterand the perfect weapon to "corral" Kohl into the Euro.
As to the assertion that weak currencies are a net benefit to the given country, and the true driver for the destructive machinations to keep the Euro afloat, look all around. Do you see any Central Bank (Except for the Poles, but that's a horse of a differenct color) intervening to strengthen their currency?
Nuff said :)
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