This page has been archived and commenting is disabled.

Monti's Double-Speak On Welfare But Sure EFSF Needs More Juice

Tyler Durden's picture




 

While the technocrats cling to their vision for a European Bloc (amid a tumbling 'stable' EUR), Italian Prime-Minister-in-lieu Mario Monti is spreading the good word. Presented with little comment, via Bloomberg headlines, from a press conference in Rome, the Goldmanite builds the bridge to nowhere that the Socialist construct is unsustainable, yet the EFSF needs more funding to ensure the unsustainable social welfare model remains, err, unsustainable?

  • *MONTI SAYS EUROPE MUST NOT GIVE UP MODEL OF SOCIAL WELFARE
  • *MONTI SAYS EUROPE CAN'T SUSTAIN CURRENT WELFARE SPENDING
  • *MONTI SAYS EFSF NEED `SIGNIFICANTLY MORE' FUNDING

Oh and this...

  • *MONTI SAYS NOTHING JUSTIFIES CURRENT ITALIAN SPREAD
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 12/29/2011 - 09:33 | 2018790 lolmao500
lolmao500's picture

Give unlimited money to the banks already so they can loan money to every fucktard with no job out there.

Let's end this party with hyperinflation!

Also what will get NO ATTENTION from the MSM (Netanyahu and the warmongers in Washington will be pissed) :

http://www.haaretz.com/print-edition/news/mossad-chief-nuclear-iran-not-...

Mossad chief: Nuclear Iran not necessarily existential threat to Israel Tamir Pardo says Israel using various means to foil Iran's nuclear program, but if Iran actually obtained nuclear weapons, it would not mean destruction of Israel.
Thu, 12/29/2011 - 09:40 | 2018818 MillionDollarBonus_
MillionDollarBonus_'s picture

Monti understands that social welfare programs are needed for the common good, and that moral principles should be upheld even of the sky falls. We cannot abandon a basic moral principle like wealth redistribution, which has lifted millions of people out of poverty by boosting the economy and creating jobs. We need smart politicians to allocate resources according to NEED, not supply and demand. Politicians are elected to lead us and make tough decisions about our lives FOR us, and they need to borrow what is necessary from future generations to be able to do their jobs.

Thu, 12/29/2011 - 09:47 | 2018843 Everybodys All ...
Everybodys All American's picture

We need people like MDB to admit their socialist policies have been an utter failure. Good luck with that huh.

Thu, 12/29/2011 - 09:49 | 2018850 Calmyourself
Calmyourself's picture

Those are fighting words MDB and unfortunately accurately describe most sheep I meet..

Thu, 12/29/2011 - 09:49 | 2018851 Non Passaran
Non Passaran's picture

Problem is "NEED" is decided by someone and guess who? Politicians. And when in trouble, JP Morgue likes to get some monies "according to their NEED". A recipe for disaster.

Thu, 12/29/2011 - 10:14 | 2018944 MillionDollarBonus_
MillionDollarBonus_'s picture

But politicians are BETTER at making decisions about our lives - they were elected because they are the best of the best. Sorry if I sound extreme but I think the economy should be run by the creme de la creme of society, not the general rabble.

Thu, 12/29/2011 - 10:17 | 2018956 Dr. Engali
Dr. Engali's picture

Man is that isn't sarcasm then you are a full fledged retard.

Thu, 12/29/2011 - 10:40 | 2019028 Are you kidding
Are you kidding's picture

He describes how it SHOULD be...who wouldn't want the smartest people running government? Only their motivation is what counts...for the general good or for yourself.

Thu, 12/29/2011 - 10:58 | 2019095 Dr. Engali
Dr. Engali's picture

I'll take care of myself , thank you very much. I don't need nor do I want anybody "taking care of me". Maybe if more people thought that way instead of relying on guberment then we would be in a better place.

Thu, 12/29/2011 - 11:39 | 2019213 eureka
eureka's picture

A) The only "wealth re-distribution" is from the poor via their labors and the middle class via their taxes to the very rich who neither works nor pays taxes but play leverage and market manipulation games.

B) The USUKs (US+UK, my term) have worked overtime to destroy EU and EUR via GS/Wall Street rigging EU with garbage paper and thin air derivatives to keep the unproductive US Empire bankrolled

C) The USUKs loves China - their 'new' co-dependent partner in imperial insanity: the structural remaking of the USUKs themselves into gamblers, con-artists and mafiosi and China into the off-shore manufacturing machine and slavery driven plantation - following historical tradition; Early USUK EMPIRE used African American slaves in the US, post-colonial financialization globalist empire uses Chinese slaves in China (cheaper and looks better than importing them to US)

D) Continental EU will thanks to its prioritization of relative equality and concern for its weakest citizens i.e. the old, poor and sick always be morally superior to USUKs who prioritizes concern only for the very rich wlite to whom all wealth, assets and fiat monopoly privileges are re-distributed.

E) The morally corrupt, always, inevitably, eventually collapse - hence the USUKs will collapse via its own, self-made structural and elite prioritization and elite value-system - whereas continental EU and EUR will prevail via its creed and institutions of equality and brotherhood - the principles absent in the US Constitution - and only morons don't know that "justice" - is bought for pennies thrown at US judges.

Good luck, UK'ians, US'ians & USUK'ians - you need it badly as your focus is forced back toward yourselves. 

Happy New Year - and Cheers in Good Ol' Anglo Ale - Bitchez!

Thu, 12/29/2011 - 16:15 | 2020180 Bob Sacamano
Bob Sacamano's picture

Ah yes, the arrogance of big government who knows what's best for everyone.  From each according to their ability, to each according to their need.  And I thought we defeated that form of government last century.  It is alive and well on the left in the US. 

Thu, 12/29/2011 - 09:53 | 2018864 Al Huxley
Al Huxley's picture

Well done MDB, your posts almost always crack me up. Such deadpan delivery, too.

Thu, 12/29/2011 - 10:05 | 2018918 Hobbleknee
Hobbleknee's picture

Seriously, what kind of trollery is this?  I thought maybe MDB was being satirical, but I went back through his history and all his comments are pablum.

Thu, 12/29/2011 - 10:19 | 2018962 Apocalicious
Apocalicious's picture

HE IS BEING SATIRICAL. Come on people...

Thu, 12/29/2011 - 12:09 | 2019311 Stax Edwards
Stax Edwards's picture

The twilight zone saga continues....

Thu, 12/29/2011 - 10:13 | 2018940 ricksventures
ricksventures's picture

WELL SAID MDB !

 

Social welfare used to be back in the Byzantine empire (today Turkey) and they used to give free bread and free water and access to local circuses in Constantinople (today Istanbul) just so that the peasants wouldn't rebel and free wine off course

it would make the most sense for Monti to print print print their local lira so he would have to rely on ECB and people would be making more much much more like thousands and millions in a day....

 

Italian society is so ready for it, you got mostly senior citizens and "youuuuth" without any skills whatsoever and byrocrats and almost no more kids hurray

As far as future generations of Italy ??? hmm, i have been going to Italy since 80s and I can tell you that in 40 years the future "youth" will be mostly from China and Africa, its gonna be a paaaarty time all the way to Gladiators in Colosseum, now that would be the real "circus"

Thu, 12/29/2011 - 21:25 | 2020752 smiler03
smiler03's picture

+1

You are my Hero. I will willingly give you all my money and assets to stand for Democracy anywhere in the world.

I love you.

Thu, 12/29/2011 - 09:33 | 2018792 economics1996
economics1996's picture

It's a long MF year Monti.  A long year for peddling crap.

Thu, 12/29/2011 - 10:43 | 2019038 Miles Kendig
Miles Kendig's picture

MuF .. not not the bunga bunga kind, but the missing unaccounted for kind

Thu, 12/29/2011 - 09:35 | 2018805 vegas
vegas's picture

*MONTI SAYS NOTHING JUSTIFIES CURRENT ITALIAN SPREAD"

You are exactly right Monti; it should be a helluva lot higher.

 

http://vegasxau.blogspot.com

Thu, 12/29/2011 - 09:45 | 2018830 Popo
Popo's picture

Nothing "justifies" the current spread??   Do markets need justification, Generalissimo Monti?  

'Funny that when bankers become central-planners they suddenly forget that Mr. Market doesn't follow directions. 

Prediction for 2012:  The utter arrrogance of those that believe they are in control of the situation will transition from "simply annoying" to "truly hilarious".

 

 

Thu, 12/29/2011 - 09:37 | 2018812 Sean7k
Sean7k's picture

Mario Montilini and the new fascism. Next up, full employment through hidden deficit spending and debt accumulation to be followed by inperial projects in Libya.

Thu, 12/29/2011 - 09:43 | 2018813 Mercury
Mercury's picture

MONTI SAYS NOTHING JUSTIFIES CURRENT ITALIAN SPREAD

Time to load up the barca then...just like you should be doing with these very real, Rolex watches here which happen to be offered at a substantial discount....

Thu, 12/29/2011 - 09:38 | 2018816 youLilQuantFuker
youLilQuantFuker's picture

It's just going to make the finale that much more spectacular.

Fair disclosure.
Long: Poli-spin
Short: Reality

Thu, 12/29/2011 - 09:39 | 2018820 GeneMarchbanks
GeneMarchbanks's picture

Mouthing off is now the only way to move the 'market' or so he thinks...

Thu, 12/29/2011 - 09:40 | 2018823 Clam McCain
Clam McCain's picture

PMs breaking down on a technical basis.

I agree with the fundamental bull view - but if you are not taking notice to what the current gold and silver prices are telling you, then you are a fool

Thu, 12/29/2011 - 09:41 | 2018825 lolmao500
lolmao500's picture

While America sends aircraft carriers in the middle of fucking Iranian war games.... totally not trying to start a war uh?

http://www.france24.com/en/20111229-us-aircraft-carrier-spotted-iran-war...

US aircraft carrier 'spotted' in Iran wargames zone
A US aircraft carrier entered a zone near the Strait of Hormuz being used by the Iranian navy for wargames, an Iranian official said Thursday amid rising tensions over the key oil-transit channel.

"A US aircraft carrier was spotted inside the manoeuvre zone... by a navy reconnaissance aircraft," Commodore Mahmoud Mousavi, the spokesman for the Iranian exercises, told the official IRNA news agency.

Thu, 12/29/2011 - 09:44 | 2018836 GeneMarchbanks
GeneMarchbanks's picture

They just wish to be included in the games what's the big deal?

NOBODY WANTS TO PLAY WITH ME!!!

http://www.youtube.com/watch?v=8yOsEzqt1U0

Thu, 12/29/2011 - 09:51 | 2018857 Non Passaran
Non Passaran's picture

Who gives a shit. Stay on topic or do us a favor and stop bothering us with off-topic crap.

Thu, 12/29/2011 - 09:54 | 2018870 Dr. Engali
Dr. Engali's picture

Yes because war has absolutley nothing to do with financial markets.

Thu, 12/29/2011 - 09:59 | 2018887 lolmao500
lolmao500's picture

Indeed. Totally bullish :

Saudi Arabia says will produce more oil of Iran supply cut (Haaretz)

Iran senior commander: U.S. not in position to tell Iran ‘what to do in Straits of Hormuz’ (Reuters)

Thu, 12/29/2011 - 10:44 | 2019044 Dapper Dan
Dapper Dan's picture

Forgive me Non-Pass this is a bit off topic, or not.

December 28, 2011

How Draghi Rigged the System The $600 Billion Ripoff

 

by MIKE WHITNEY

Try to wrap your mind around the amount Draghi gave away just last week; nearly $600 billion! Apart from TARP, this is the biggest heist on record, and yet, people still can’t figure out what’s going on. I’ll tell you what’s going on. The people are getting fleeced bigtime. How much more do you need to know?

This is no “debt crisis”. That’s a diversion to make people think the problem lies with the states. But the only thing the states can be blamed for is surrendering the control of their own currency, which was a very big mistake indeed. There’s no way that one can protect one’s labor force or public assets, if they don’t control their own currency. That’s the big lesson of the present crisis.

This is what we’re up against; a small group of obscenely rich people who have totally rigged the system and who are grabbing more and more of the wealth for themselves while they preach austerity to everyone else.

Even so, it’s pretty amazing when people get ripped-off for $600B and it doesn’t even make the headlines.

http://www.counterpunch.org/2011/12/28/the-600-billion-ripoff/

Thu, 12/29/2011 - 21:54 | 2020776 smiler03
smiler03's picture

+1  Nice link Dan, much appreciated, it's good to see plain English, no sarcasm intended :O)

Thu, 12/29/2011 - 09:42 | 2018829 hugovanderbubble
hugovanderbubble's picture

EFSF downgraded to A+ by Peterssen,

Keep talking Monti

Thu, 12/29/2011 - 09:46 | 2018840 GeneMarchbanks
GeneMarchbanks's picture

That's the highest grade, you know? ...  In grade school at least. Toddlers run the world...

Thu, 12/29/2011 - 09:44 | 2018837 RobotTrader
RobotTrader's picture

Wow, another beating overnight.

 

Investors in "physical" probably wish they had never been born.

Thu, 12/29/2011 - 09:52 | 2018859 Captain Kink
Captain Kink's picture

Unless they are in sub $500.

Thu, 12/29/2011 - 09:58 | 2018883 SheepDog-One
SheepDog-One's picture

Hell even sub 1,500 buyers are doing far better than anything Robo has. 

Lets see, his 2 big announced 'all-in' calls this year were the debt ceiling resolution at DOW 12,700, and the Santa Rally at DOW 12,350. And then theres NFLX. So sad.

 

Thu, 12/29/2011 - 21:57 | 2020779 smiler03
smiler03's picture

Oh my God, you're right. I'm going to slash my throat then I'll never worry that I was born. Bullish on steel.

Thu, 12/29/2011 - 09:47 | 2018842 Catullus
Catullus's picture

I get it.  They can't give up the "model" of social dependency on the state, but that this level of spending to sustain their dependents is too high. 

It's basically what people in this country refuse to understand about welfare spending.  The people are on it are dependent on it and the state is trying to figure out ways to give them less, but not give up how dependent those people are on the welfare itself.  It's a policy of continued impoverishment without loss of control by the state.

Thu, 12/29/2011 - 09:48 | 2018847 Dr. Engali
Dr. Engali's picture

Silver and gold  down again today. Great opportunity to grab more.  Good thing my time horizen is longer than two days roboturd.

Thu, 12/29/2011 - 09:50 | 2018854 MFL8240
MFL8240's picture

Wasn’t this greaseball put in by the Goldman Tribe?  Pretty well says it all!  FU idiot!!

Thu, 12/29/2011 - 09:55 | 2018874 scatterbrains
scatterbrains's picture

Speaking of goldman, didn't they say buy buy buy gold not too long ago?

This reminds me that I need to hold my fire on buying pm's until Goldman issues a sell gold call..  or GLD hits 1200.

 

Thu, 12/29/2011 - 09:52 | 2018860 Apocalicious
Apocalicious's picture

Ok, sure. We can't stop spending, no matter what. Also, it is impossible to afford our spending. Oh, and, never mind those spreads. I mean, how fucking STUPID are the motherfuckers that run this world?!! As pessimistic as I am, their complete and utter corruption, incompetence and stupidity surprises me on at least a weekly basis...

Thu, 12/29/2011 - 09:53 | 2018867 StychoKiller
StychoKiller's picture
  • *MONTI SAYS EUROPE MUST NOT GIVE UP MODEL OF SOCIAL WELFARE
  • *MONTI SAYS EUROPE CAN'T SUSTAIN CURRENT WELFARE SPENDING
  • *MONTI SAYS EFSF NEED `SIGNIFICANTLY MORE' FUNDING

Double-think meets inflation, becomes Triple-think!

Thu, 12/29/2011 - 09:53 | 2018869 The Alarmist
The Alarmist's picture

"MONTI SAYS NOTHING JUSTIFIES CURRENT ITALIAN SPREAD"

He may as well have them carry his throne down to waters' edge so he can show them by commanding the tide to not come in that he really has no power.

Thu, 12/29/2011 - 09:57 | 2018875 nathan1234
nathan1234's picture

Monti says

He maybe an Ass

But not an Asshole

 

Monti says

He is right

But we are not wrong

 

  • "Chi la fa l'aspetti."  to Monti

 

    • Translation: "He who wrongs someone has to expect something in retaliation."
    • Idiomatic translation: "What goes around, comes around."
Thu, 12/29/2011 - 10:19 | 2018963 Cone of Uncertainty
Cone of Uncertainty's picture

That's right Monti, that spread is fucking stupid.

It should be multiples wider you dumb fuck.

Thu, 12/29/2011 - 11:02 | 2019106 Cone of Uncertainty
Cone of Uncertainty's picture

Monti you dumb cunt, did you down vote me, or is that just another blow hard zerohedge loser that thinks they are a BSD, but has no clue about jack fucking shit.

Thu, 12/29/2011 - 10:21 | 2018971 monopoly
monopoly's picture

This market looks very scared. We break 1,535 on the downside with gusto, it looks like we may move below 1.500.. Oh to find the bottom and complete my purchases. And no Robot none of this bothers me. Just another buying opportunity. Must admit holding confetti is paying off.....for now.

And one here thinks our politicians are intelligent. Oh My God! Now, I have heard it all.

Thu, 12/29/2011 - 10:41 | 2019034 Miles Kendig
Miles Kendig's picture

MONTI SAYS NOTHING JUSTIFIES CURRENT ITALIAN SPREAD

No doubt.  It should be closer to Greek spreads.

MONTI SAYS EUROPE MUST NOT GIVE UP MODEL OF SOCIAL WELFARE

To do so would be an explicit admission that your governing theocracy is as bankrupt as your monetary theocracy, not to mention your treasury.

MONTI SAYS EFSF NEED `SIGNIFICANTLY MORE' FUNDING 

That no one has without resorting to clipping the coin.  And everyone knows that is only resorted to by those that are bankrupt.  Weather one chooses to call the coin clipping default or devaluation is defined either by the conventions of polite conversation or by the stones with which one backs up their conversation.

I'm sure Monti will continue shilling .. er .. shelling for peanuts

Thu, 12/29/2011 - 10:56 | 2019088 AC_Doctor
AC_Doctor's picture

Robodufus, really not as brutal as that fist pump you took on your NFLX long.  One more day of HF redemptions and AU and AG are set to sail.

Thu, 12/29/2011 - 11:16 | 2019147 youngman
youngman's picture

anyone for Bocci Ball.......????  No economics for Monti...none whatsover....

Thu, 12/29/2011 - 11:19 | 2019153 bombimbom
bombimbom's picture

"MONTI SAYS EUROPE CAN'T SUSTAIN CURRENT WELFARE SPENDING" + "MONTI SAYS EUROPE MUST NOT GIVE UP MODEL OF SOCIAL WELFARE" = we need to adjust our model of social welfare so that it is sustainable.

you have to understand the average political mindset in europe. the large majority of europeans are convinced, rightily so, that social welfare is as important as democracy for a society to be healthy. and a healthy society is beneficial to the well being of the individual. that is common both to the mainstream right and left of the political spectrum. the only political differences being on how and how much.

it's not like it was difficult to see what Monty wanted to say. there is no worse deaf than the one who doesn't want to hear. That is literally how the italian saying goes. the idea being that... well I think you can see it by yourself.

p.s. the notion that monty is an undemocratic prime minister is incorrect. in order to get there he had to receive a majority in the parliament. each and every act has to pass the voting in both the houses. and the parliament has been elected. you could say there's too much berluscony there. hopefully that problem will be solved in the next elections.

the real truth is that the largest political parties know that now is the time to act but are reluctant to pay the political price of unpopular measures. that is the reason why 'Monty and his Technicians' are there, having a parliamentary majority, not because of goldman conspiracies, not because of the supposed undemocratic will of the union of the soviet republics of europe.

Thu, 12/29/2011 - 11:26 | 2019177 flyme
flyme's picture

Of course Monti, need is ok. Especially, when there's someone else available to foot the bill. Personally, I'd perfer if the FED shut its European swap window and let the charade end.

Thu, 12/29/2011 - 11:27 | 2019180 YuropeanImbecille
YuropeanImbecille's picture

The central/north European welfare system worked well when it was only Europeans benefiting from it. Today we take in about 10,000,000 African/Arab analphabetic rapists/goat herders who enjoy full benefits from day one, without EVER working a single full day. Their satanic women dressed in black tents pop out kids at a rate that would put a monkey at shame. Just because in the European welfare system every kid you got will grant you a cash bonus payout every single freaking month.

 

No shit the system will crash? And I welcome it, all these disgusting fucking libtards and communists are the ones that will pay the highest price, why? because they are low educated scum who most likley, if they work at all sit at some "cultural center" doing fuck all, all day long.

 

Who the fuck will be interested in communist culture when you food shortages and hardcore austerity become a reality?

Thu, 12/29/2011 - 11:44 | 2019226 bombimbom
bombimbom's picture

xenophobia and fascism are a dangerous mix. we can add to that also nationalism (but that's one of the main ingredients of fascism). that is the real danger all the democratic forces in europe have to keep an eye on. especially in times of crisis when it's easy for demagogues to profit from the blind anger.

the "communist" problem/menace is of the same size and urgency of an invasion of wild pink man-eating alien rabbits.

Thu, 12/29/2011 - 12:03 | 2019281 YuropeanImbecille
YuropeanImbecille's picture

Classical communist rhetoric, point to the horrrrrrrible dangers of nationalism and xenophobia! thank g-d this charade can not continue for ever. All things come to an end my friend, as will your belowed EUSSR too!

 

 

Thu, 12/29/2011 - 16:05 | 2020153 bombimbom
bombimbom's picture

it could have been communist rhetoric if I ever was a commie, mate. sounds like you were never exposed to real commies and their arguments. BTW communism (or real socialism, meaning pure, integral) cannot work just like anarchism or pure untouched capitalism. the first destroys the individual, the second and third destroy the society. and you need to take care of both the elements.

you are currently experiencing the failure of hypercapitalism (with a humorous touch of "losses" socialism), people could try and paint it as a socialist failure but it's just wrong. the fall of communism was 20 years ago. read it as a reminder to people with mental schemes belonging to 30 years ago.

p.s. USofE has not even started yet, it's too early for the obituary, wait at least a dozen decades after it really starts. we have a mission: to defend the democratic civilization against americanization or chinesification.

p.p.s. I hope I don't have to explain why fascism is bad. it manages to get the worst of everything and put it together.

Thu, 12/29/2011 - 13:11 | 2019538 Negro Primero
Negro Primero's picture
NO PROBLEMA:

 

"Monti says Italy not following Greece"

http://www.ansa.it/web/notizie/rubriche/english/2011/12/29/visualizza_ne...

"Monti to visit Libya January 21" (PM to reactivate 2008 friendship treaty)

http://www.ansa.it/web/notizie/rubriche/english/2011/12/29/visualizza_ne...

Do NOT follow this link or you will be banned from the site!