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Portugal's Tragic Cost Of "Remarkable" Troika Compliance

Tyler Durden's picture





 

It was all ponies and unicorns as the EU-ECB-IMF 'Troika' mission found 'no sign of reform fatigue' in their report today, noting the 'remarkable' nature of the fiscal adjustment. Perhaps they should have asked someone outside of the halls of government as this tragic story from The Guardian notes the Portuguese death rate rising as health and welfare cuts from the 'remarkable' austerity package are biting at the people hard. During February, there were 20% more deaths than normal and the cost cuts are blamed as a visit to the ER has more than doubled. There is a general strike, as we noted earlier, on Thursday as the leader of the unions notes "They are driving the country towards disaster". While the IMF believes that Portuguese debt is sustainable, most practicing market participants who do not have a gun to their head see full well the unsustainable nature of the Portuguese debt load seeing the IMF's position as "wishful thinking". There is a growing tension as Irene Pimentel notes "I worry that democracy is at stake" and on the people's apparent stoicism for now, "I think it will explode eventually, it is impossible for people to remain this passive."


At least Portuguese bonds are happy, and accept the culling of the Portuguese population at the altar of the euro, as a worthy supplication, worth at least 250 basis points.

 

 

Charts: Bloomberg

 


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Tue, 03/20/2012 - 18:35 | Link to Comment radch3vik
radch3vik's picture

Just wait for that death rate jump after the revolutions start.

Tue, 03/20/2012 - 18:56 | Link to Comment bobola
bobola's picture

Where are the death numbers on that chart..??

Wed, 03/21/2012 - 04:00 | Link to Comment BiggerInJapan
BiggerInJapan's picture

 

For many years as a student in Portugal I told any1 that would listen that Portugal is rulled by scum and parasites and half of public services needed a real restructuring, the lousy education and tv have been structural pilars to a raise in mediocracy over the last 20 years.

Funny how the profitable public companies where sold and the not profitable stayed in taxpayers responsability.

In my opinion the republic needs another good revolution, nationalizing the banks and the industry that survived the bloodsuckers that where in power for the last 20 years and make that corrupt system in a true libertarian capitalism.

I supose at least 10 years of things well done are needed to recover 20 years of shit and that arent going too happen.

As a recent Portuguese expatriated I can avoid the slavery of living in Portugal with portuguese salaries paying ridiculous taxes and consuption taxes to pay stupid submarines and roads and briberies to our bloodsucker polititions that compete with GS in corruption of rules and Muppeting.

 I have it said MF's, you never going to see a dime of taxes from me, die in hell!!!

PS: extremly happy now with my civilized salary. Im going to ask a raise any way!

Filhos da Puta, Cabrões dum caralho, que comam merda da grande, com especial carinho para o pessoal da Alfandega de Lisboa(e provavelmente todas as outras), chulos e paneleiros já não vos tenho de ouvir todos os dias!!!

Wed, 03/21/2012 - 04:47 | Link to Comment Harlequin001
Harlequin001's picture

"I worry that democracy is at stake"

No shit. Democracy, or the right to 'vote yourself every welfare benefit on the planet at someone else's expense' is the cause.

Back to gold backing, one way or another...

Wed, 03/21/2012 - 06:28 | Link to Comment Acet
Acet's picture

As a Portuguese expat myself, having lived outside Portugal for 15 years now, I second that.

It was already so before I left and from what I have heard things didn't change all that much since then.

That said, depending on where you are living, expect to find sleaziness, cronyism and high-level corruption:

I'm currently in the UK and it's not any better in that respect than in Portugal - UK politicians actually treat their constituents even more as muppets than Portuguese politicians and corruption is more of the "I'll help you now and you make sure you help me when I leave the state" kind rather than straight money payments, but the culture of strategic incompetence, reactive (rather than proactive) policy, giving taxpayers money or making laws to help your buddies and "we're all equal but some are more equal than others" is the same. In fact, at all levels - not just politics - the UK seems to suffer from the same flaws in management culture as Portugal (short-termism, greed, appearences-oriented rather than results-oriented, low on ethics).

I used to live in Holland and that is a far fairer and honest society. From what I've heard, germanic and nordic countries tend to be the cleanest.

 

Wed, 03/21/2012 - 07:23 | Link to Comment vh070
vh070's picture

Funny that I was thinking about the consequences of poor government before coming across your post.  The moral hazard of tolerating filhos de puta in office for so many years is now going to make everyone comer merda da grande.  

Wed, 03/21/2012 - 06:51 | Link to Comment Ghordius
Ghordius's picture

"culling of the Portuguese population at the altar of the euro" what drama

should we go back to gold backed currencies the problem of living within your means would not change, would it?

yes, the EUR is behaving like a gold standard for the internal trade of the eurozone - look and learn some valuable lessons since they cost so much human misery...

in the next twenty years all countries might somehow have to learn to spend only as much as they gather in taxes

-------------

the original article was written from a perspective of a country that has a National Health Service (free national health care - the UK) with a worry about a spike in deaths in another country with free national health care that is supposedly failing

so if you extrapolate, you would have to acknowledge some ten thousands of deaths every year in the US - because of a lack of a free national health care...

Wed, 03/21/2012 - 10:31 | Link to Comment DrunkenMonkey
DrunkenMonkey's picture

"in the next twenty years all countries might somehow have to learn to spend only as much as they gather in taxes"

About bloody time !

Politicians have been demagoguing their citizens for way too long, time they felt the rough side of a rope around their nex.

Tue, 03/20/2012 - 18:58 | Link to Comment Manthong
Manthong's picture

"newspapers have begun to publish scare stories about people who claim to have been priced out of the public health service."

If you think your private health care is expensive just wait until it is all made "public".

Sat, 06/09/2012 - 08:51 | Link to Comment jaffa
jaffa's picture

The health system, also sometimes referred to as health care system or healthcare system is the organization of people, institutions, and resources to deliver health care services to meet the health needs of target populations. Thanks.
Regards,
http://hcgonlinebuy.com

Tue, 03/20/2012 - 19:17 | Link to Comment ms1408
ms1408's picture

 

Portugal, along with Greece and Spain have learnt the hard way that capitalism simply does not work. We need to create a new system. A free and fair system where everybody gets the basic necessities they need like education, housing, cars and jobs. The people are rising up and will take what is rightfully theirs from the greedy industrialists who have conquered these countries by selling expensive goods and offering unsatisfactory-compensation job opportunities. The people are not taking it any longer - they are fed up with CORPORATIONS and they want their governments to do more.

 

Tue, 03/20/2012 - 19:52 | Link to Comment Vegamma
Vegamma's picture

Cars are a necessity? So what kind of car and at what age must society provide this "necessity"?

Wed, 03/21/2012 - 05:15 | Link to Comment Harlequin001
Harlequin001's picture

1408, This is a spoof, has to be. No one's this fucking stupid...

Tue, 03/20/2012 - 20:13 | Link to Comment Rincewind
Rincewind's picture

You are joking, right?

The sowjet block was highly successful and a desirable place to live, right?

 

Tue, 03/20/2012 - 20:19 | Link to Comment lasvegaspersona
lasvegaspersona's picture

a free paycheck...?!?... my motivation is slipping...I can call in sick for the first time in my life?!?...I'm feeling ill right now...Promised retirement?!?honey we are going to Vegas (well I'm already here so maybe Monaco).

Socialism is WHY these countries are in the position they are in (plus a good dose of corruption I would guess). If you think Capitalism needs fixing check out the grand and UNIVERSAL failure of socialism (or as Obama calls it 'spreading some of that wealth around'). The fundamentals of Capitalism are natural instincts and are proven to create wealth. Socialism is also a natural instinct (some penguins will steal their neighbors nest rocks if they can do so undetected). The USSR did not fail because it was evil it broke up becuase it was built on the principles you espouse. Think again..please...

Tue, 03/20/2012 - 20:51 | Link to Comment Hedgetard55
Hedgetard55's picture

Troll or retard? BOTH.

 

Hamy/MDB,is that you?

Tue, 03/20/2012 - 22:43 | Link to Comment Jake88
Jake88's picture

Is this what they teach kids in school these days? Pathetic. 

Wed, 03/21/2012 - 00:08 | Link to Comment Odin
Odin's picture

@ms1408

...while you are right in saying that many corporations today over charge their customers, you have to understand that they are only ABLE to because what we live in today is not a Free Market economy. We live in a centrally planned monetary paradigm that facilitates monopolies, and in a truly free system monopolies would eventually be forced to COMPETE and thus, lower prices... Because our banking systems are primarily designed to increase the wealth of a select few mega banks through what essentially amounts to creating value from nothing, credit and resource are slowly and indirectly sucked away from the private sector, until now we find ourselves in a market where only the established monopolies can reign free...and monopoly, whether it be in trade or money creation, never leads to a society of free individuals...

Wed, 03/21/2012 - 02:01 | Link to Comment Blotsky
Blotsky's picture

capitalism simply does not work.

Cognitive Infiltration.

 

Wed, 03/21/2012 - 10:33 | Link to Comment DrunkenMonkey
DrunkenMonkey's picture

Marxist bullshit !

Tell me you're joking .. ?

Tue, 03/20/2012 - 20:25 | Link to Comment Svener
Svener's picture

Oh for crying out loud. Will this bunch ever give up? Let me know when the revolution starts, I may miss it.

Tue, 03/20/2012 - 20:25 | Link to Comment Svener
Svener's picture

Oh for crying out loud. Will this bunch ever give up? Let me know when the revolution starts, I may miss it.

Tue, 03/20/2012 - 21:37 | Link to Comment LongSoupLine
LongSoupLine's picture

 

 

Poor Portugal.  If only they had Dudley...and iPads.  Heck, then they could eat and stay warm.

Wed, 03/21/2012 - 06:31 | Link to Comment Acet
Acet's picture

Portugal has the most hours of sun per year in the whole of Europe: no need for iPads to stay warm.

 

Tue, 03/20/2012 - 18:35 | Link to Comment Bill D. Cat
Bill D. Cat's picture

You meant visit to the EU , right ?

Tue, 03/20/2012 - 18:39 | Link to Comment johnQpublic
johnQpublic's picture

"I think it will explode eventually, it is impossible for people to remain this passive

 

 

 

do they get dancing with the stars there?

Tue, 03/20/2012 - 18:50 | Link to Comment slaughterer
slaughterer's picture

Portugal has something far better than "Dancing with the Stars"  They have the Fado!

Tue, 03/20/2012 - 19:05 | Link to Comment putbuyer
Tue, 03/20/2012 - 20:34 | Link to Comment lmm166
lmm166's picture

I rember listening to her music as a young boy in the early 70's in the Azores.

Tue, 03/20/2012 - 21:27 | Link to Comment putbuyer
putbuyer's picture

I'm from Aveiro and she is amazing. Strike in Portugal on 3/22. José Manuel Barroso will see the noose when the Portuguese people wake up and realize that he has sold them down the river, for 30 pieces of silver.

Tue, 03/20/2012 - 20:30 | Link to Comment lmm166
lmm166's picture

Fitting music...for the condition the country is in.

 

Tue, 03/20/2012 - 20:23 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Currently, people have a need to deny the depression. But that will change

Tue, 03/20/2012 - 18:42 | Link to Comment k. pablo
k. pablo's picture

Approve this bailout or this Portuguese dies.

Tue, 03/20/2012 - 18:43 | Link to Comment pies_lancuchowy
pies_lancuchowy's picture

with all respect Tyler, but the 'leader of the Unions' is the first person to be shot, not to be quoted

Tue, 03/20/2012 - 18:44 | Link to Comment Lady Heather...UNCLE
Lady Heather...UNCLE's picture

we are all Portugese

Tue, 03/20/2012 - 19:15 | Link to Comment Dr. Engali
Dr. Engali's picture

Can't I be Greek instead? I like cooking with olive oil and eating gyros.

Wed, 03/21/2012 - 06:33 | Link to Comment Acet
Acet's picture

You cook with olive oil in Portugal too - all Meditarranean nations use it.

That said, if you're ever down there, try "Cozido" or "Caldeirada" if you like fish.

Tue, 03/20/2012 - 19:19 | Link to Comment JPM Hater001
JPM Hater001's picture

We are Siamese if you please
We are Siamese if you don't please
We are from a residence of Siam
There is no finer cat than I am

Tue, 03/20/2012 - 20:16 | Link to Comment Ceteris paribus
Ceteris paribus's picture

You are all missing the point the Portugese like been treated this way if they did not they would of done somthing about it ,so just sit back and whatch them die its fun. Dont forget it is coming to a city near you. 7 billion people been fucked by about 10,000 idiots in power , the human race gets what it deserves.

Tue, 03/20/2012 - 18:45 | Link to Comment Jendrzejczyk
Jendrzejczyk's picture

US citizenism has spread to docile Portugal. A round of wolf-nipple chips for every blobberupper.

Tue, 03/20/2012 - 18:53 | Link to Comment Sophist Economicus
Sophist Economicus's picture

China-bot, that you?

Tue, 03/20/2012 - 19:21 | Link to Comment JPM Hater001
JPM Hater001's picture

Do you every wonder if the Chinese Troll's dont sit back once and a while and think...This shit is some fuck you up shit.

Tue, 03/20/2012 - 21:56 | Link to Comment Matt
Matt's picture

+1 Amazing impersonation! Totally Dead on.

Tue, 03/20/2012 - 18:46 | Link to Comment gwar5
gwar5's picture

"Reform" is just a retro-euphemism for takeover.

Healthcare reform, banking reform,... the old school commies had lots of "reforms" and even built reform schools they called re-education camps.

Tue, 03/20/2012 - 18:49 | Link to Comment kalasend
kalasend's picture

I'm confused. Isn't ZH all for gov spending cut?

Tue, 03/20/2012 - 18:54 | Link to Comment Sophist Economicus
Sophist Economicus's picture

No, just cut in government

Tue, 03/20/2012 - 18:57 | Link to Comment Cursive
Cursive's picture

@kalasend

Speaking for myself, I'm for a return to freedom from financial tyranny of central planners. Banks are part and parcel of that tyranny.

Tue, 03/20/2012 - 22:49 | Link to Comment Jake88
Jake88's picture

Seems we have a banker trolling here voting you down.  Off with his head.

Tue, 03/20/2012 - 19:10 | Link to Comment TMT
TMT's picture

I would say yes because ZH knows the consequences of debt and central planning.  But ZH often shows these stories as a prelude of what's coming here (and everywhere) and the human cost to the banker's fiat party.  I wouldn't say ZH is against austerity, but rather Greece et al should tell their paymasters to fuck off, default, then get on with life.  Much better for the citizens.

My take - what's going on in Portugal, Greece, etc. is a result of bloated, corrupt governments who try to spend their way to prosperity.  Sorry folks, you voted for these clowns, and now you pay the price.  It's always hard to get off the government needle.  I feel sorry for them, but fuck, what did they think the outcome would be.

Wed, 03/21/2012 - 07:37 | Link to Comment GCT
GCT's picture

And TMT where else do you find it?  Defeinitely not in the main stream media.  Someone has to report it.   I read more foreign papaers then USA ones now.  All they want to talk about here is murder and mayham.  Talk about racism this and racism that.  Best of all the Repub primay zoo.  Wait the new iPad goodie goodie.

Besides where else can a person come to a site and get some great entertainment with some of the commenters posts.   

Tue, 03/20/2012 - 18:53 | Link to Comment Cursive
Cursive's picture

It's hard to imagine the populace of any Western "democracy" actually practicing democracy. That's a quant notion from bygone days.

Tue, 03/20/2012 - 19:41 | Link to Comment Goldilocks
Goldilocks's picture

no kiddin'…

de•moc•ra•cy

Philosophy of government in which supreme power is vested in the people and exercised by them directly or indirectly through a system of representation usually involving periodic free elections. In a direct democracy, the public participates directly in government (as in some ancient Greek city-states and some New England town meetings). Most democracies today are representative democracies. The concept of representative democracy arose less from ancient Greek practice than from ideas and institutions that developed in medieval Europe, during the Enlightenment, and in the Amer. and French Revolutions. Today democracy has come to imply universal suffrage, competition for office, freedom of speech and the press, and the rule of law.

Tue, 03/20/2012 - 20:20 | Link to Comment Ceteris paribus
Ceteris paribus's picture

Thank fuck we dont live in a Democracy here in America we live in a Republic , but most Americans are to stupid to know the differance.

Tue, 03/20/2012 - 20:52 | Link to Comment Goldilocks
Goldilocks's picture

re•pub•lic

Form of government in which the leader is periodically appointed under a constitution. It was originally contrasted with governments in which leadership was hereditary, but is now understood to mean a state ruled by representatives elected by its populace, all of which is enfranchised. Republics may also be distinguished from direct democracies, but representative democracies are by and large republics.

Tue, 03/20/2012 - 22:51 | Link to Comment Jake88
Jake88's picture

Yeah and they ain't such good spellers either.

Tue, 03/20/2012 - 19:04 | Link to Comment Pancho Villa
Pancho Villa's picture

This reminds me of the the first world war where for four years soldiers blindly obeyed their incompetant generals' orders to charge enemy machine gun nests, and were repeatedly slaughtered. Why did they do it? Why do lemmings run off cliffs?

If Greece, Portugal, and Ireland had any sense, they would just renounce their debts and exit the euro.

What the wise man does in the beginning, the fool does in the end. (If he is lucky enough live that long.)

Tue, 03/20/2012 - 19:05 | Link to Comment Doubleguns
Doubleguns's picture

This story is fake, the banks would never let their slaves escape the debt payments by dying. Bull shit flag at full staff on this story.

Tue, 03/20/2012 - 19:08 | Link to Comment Charles Wilson
Charles Wilson's picture

Butch up, Portugal.

BUTCH UP!

 

CW

Tue, 03/20/2012 - 19:13 | Link to Comment Dr. Engali
Dr. Engali's picture

When are these people gonna get serious and start stringing some bankers up from light poles ?

Tue, 03/20/2012 - 22:53 | Link to Comment Jake88
Jake88's picture

I like the idea of beheading the bastards.

Tue, 03/20/2012 - 19:20 | Link to Comment JohnKozac
JohnKozac's picture

My brother was in Portugal last year and said it was miserable in the large cities....literally thousands of hungry, anxious unemployed. Many are migrants or refugees from MENA who fled and now are trying to find a "better life." He was almost knifed once when he resisted a thief and said they travel in packs..in broad daylight .....sad stuff imo...be careful if traveling to Europe this summer since he encountered similar issues in Italy and southern France.

I notice the American Embassy in Geneva told its employees do not go out at night it is so dangerous there...for the same reasons....one of the State Dept was almost knifed riding his bicycle home by several MENA folks.

Crime always follows poverty and despair.

I was in Portugal several years ago and it was beautiful and people friendly. Times have changed, eh.

 

Wed, 03/21/2012 - 04:09 | Link to Comment BiggerInJapan
BiggerInJapan's picture

you got that fucking rigth, its the build up of bad public education programs and bad goverment choices, almost all those right and left wing parties are the same bastards in the end.

people made their wrong choices now they pay.

Wed, 03/21/2012 - 06:36 | Link to Comment Acet
Acet's picture

"I was in Portugal several years ago and it was beautiful and people friendly. Times have changed, eh."

Unfortunatly one can't eat the sunshine or the scenery.

Tue, 03/20/2012 - 19:18 | Link to Comment RoadKill
RoadKill's picture

Portugal bonds are happy because we have cut through the BS of defalults without CDS.  Its important to recognize when something positive actually does happen.  If Greek CDS had not been triggered, I think we could all agree it would be financial repression on a grand scale.

Not saying things are fine - just score 1 for the good guys.  Shows that good things happen when you do the right thing - even when you try as hard as you can not to do the right thing.

Tue, 03/20/2012 - 20:02 | Link to Comment shuckster
shuckster's picture

Total red herring - they paid out $3 billion - I'm pretty sure the CDS obligation was something closer to $25 billion

Tue, 03/20/2012 - 21:37 | Link to Comment kanenas
kanenas's picture

Vast majority of bond holders opted for the PSI, bringing down the CDS to this figure. They knew that if the PSI was a failure, then CDS would not get paid, and that would lead to a bigger bail out, domino, and recession. 

Tue, 03/20/2012 - 19:18 | Link to Comment onlooker
onlooker's picture

FROM the Guardian

"" In the meantime, the government blames flu and cold weather for February's surprise jump in the mortality rate, but newspapers have begun to publish scare stories about people who claim to have been priced out of the public health service.""

 

Irene Pimentel notes "I worry that democracy is at stake" and on the people's apparent stoicism for now, "I think it will explode eventually, it is impossible for people to remain this passive."

???????????  WHY  ????????????  What are they to do, steal meds, burn hospitals, shoot doctors. Bloody stupid article!

 

Tue, 03/20/2012 - 19:27 | Link to Comment jmc8888
jmc8888's picture

Yep what a sick world we live in where deaths per basis point becomes a metric....and a long time before that.

Reminds me of the Meals Per Gallon that pulls supply from the market.  Less supply and Crtl+P is quite a racket...in the Corn/Ethanol market.  Hundreds of millions of people could be fed per year from this (not one meal, every meal for a year).

Remember though, this is the nice face of Imperialism....because it is indirect and bloodless...so the psychos think. 

Rather than the ugly face, which they are already doing as well...see Libya, Syria, Afghanistan for contemporary examples...Iran in the future...and Iraq (both times), Vietnam, so on and so forth.

Remember it's hard to see the filth of the streets from ones Ivory tower.  Bernanke is a quadrillion level mage...way past us mere mortals.

 

Glass-Steagall

American Credit System

Tue, 03/20/2012 - 22:09 | Link to Comment Matt
Matt's picture

One of the problems with Corn are that since it is Genetically Modified, it cannot be used to feed people overseas, since their export markets would be destroyed. EU doesn't allow GM crops, and African countries don't want GM corn, since it affects exports to EU, for example.

Second problem is, if you feed more people, the total population will just continue to grow. There is a reason most of the desert countries had so low of population for so long. For example, Libya 1945 had around 600,000 Libyans and now 6.4 million Libyans. Some of it is local irrigation from deep wells, but I suspect a large part is imported food.

If you feed people in the desert, next time there is a famine, you better be ready with even more food to give them, more and more each time.

Wed, 03/21/2012 - 02:40 | Link to Comment Uber Vandal
Uber Vandal's picture

Sam Kinison nailed it over 20 years ago.

Start at the 48 second mark.

https://www.youtube.com/watch?v=vN7ehccspao

"If you want to stop world hunger, stop sending them food."

Tue, 03/20/2012 - 19:28 | Link to Comment THE DORK OF CORK
THE DORK OF CORK's picture

There is a dramatic misallocation of resourses withen the pIigs because of this overvalued currency.

For example In the transport area you get empty busses yet single driver cars.

Irelands Oil import / money export Bill for 2011 came out the other day.

It was a record standing at 5.168 Billion Euros despite a collapse in the economy & commerical transport activity.

This compares to a import bill of 1.593 Billion in 2003 when far more oil BTUs were burned.

Italy can more easily increase its oil tax because of a lower private debt burden (now the highest price for petrol in the EU at 1.85) but Ireland & Spain cannot without a even greater collapse of activity.

You cannot sustain the debt levels of these extreme market state experiments and yet add on nation state like taxes.

The 2 methods of extraction (private debt dreams & heavy taxes) just do not gel.

Tue, 03/20/2012 - 19:25 | Link to Comment rsnoble
rsnoble's picture

Will Portugal pull an Iceland? Or do they have a worthless fucking gov't full of EU dipshits like Greece does?  Fuck all these worldwide organizations like the IMF raw!

Tue, 03/20/2012 - 22:11 | Link to Comment FeralSerf
FeralSerf's picture

Portugal, unlike Iceland, does not have sovereignty over its currency. It therefor cannot "pull an Iceland". It can, however, pull a Greece. The banks and speculators that sold CDS will not be happy, but if 2008 is any precedent, maybe the American, and probably the German, taxpayers and savers will end up being the bag-holder.

Then comes Spain.

Tue, 03/20/2012 - 20:00 | Link to Comment Caviar Emptor
Caviar Emptor's picture

We've had an amazing number of "miracles" since 2009. 

Ain't no "magic" when you're printing money

Tue, 03/20/2012 - 20:08 | Link to Comment Racer
Racer's picture

is decimate by starvation the new ChairSATAN goal.............

 

/notsarc

Tue, 03/20/2012 - 20:44 | Link to Comment Totentänzerlied
Totentänzerlied's picture

"Maria Isabel Martins got up at 5am to catch a bus from the eastern Portuguese country town of Portalegre to see a consultant in Lisbon about her diabetes. It is a 130-mile journey that takes three hours. It used to be free, but not any more."

Bull-uh-fucking-shit. Socialized sickcare is not free, there is no possible way even the Guardian's editors could be that fucking stupid. Near-free for the patient maybe (or extremely cheap), incredibly costly for the payor - the government, which means everyone who pays taxes.

Socialized sickcare sure is great ... until reality arrives and the rationing begins. And this is nothing but rationing by other means - when a monopoloy raises prices, there is nowhere else to turn and so people are simply priced out of the market. Maravilhoso.

And the strikers' proposed solution? MORE debt and MORE welfare! If we just print enough fiat surely the socialist gravy train will return! They wish to shoot themselves in the foot yet again.

Also, no source is cited for the 20% figure in the article, ah the Guardian never disappoints.

Tue, 03/20/2012 - 21:14 | Link to Comment FeralSerf
FeralSerf's picture

Do you perhaps prefer that people that do not have any money not get any health care? You do realize, I hope, that epidemics, that kill both the rich and the poor, will be more common when public health care is eliminated.

What about clean water? The early 19th century has many examples of what happens when this is ignored in society and/or left to charity. There are some things that must be done if people are to live in close proximity to each other for their mutual safety. What is the alternative to government for this?

Note "promote general welfare" (I realize that the previous President considered this "just a goddamn piece of paper" and the current one just ignores it):

"We the people of the United States, in order to form a more perfect union, establish justice, insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and our posterity, do ordain and establish this Constitution for the United States of America."

Tue, 03/20/2012 - 20:47 | Link to Comment Bansters-in-my-...
Bansters-in-my- feces's picture

I always find it amazing how docile them chemtrails make a country.

.............STOP CHEMTRAIL SPRAYING>>>>>>>>>>

Tue, 03/20/2012 - 21:44 | Link to Comment americanspirit
americanspirit's picture

Just as I didn't eat any crab from SE Asia for a year or so after the tsunami I don't think I'm going to be buying any Portugese sausage anytime soon. Or sliced ham either.

Tue, 03/20/2012 - 23:07 | Link to Comment Jake88
Jake88's picture

US is headed the same direction as Greece and Portugal.  Don't you see it coming.  The bankrupt US is bailing out the EU on Bernanke's orders.  We are really all in the same boat.  These central bankers have engineered this and they will offer a solution which will be a new single currency and government for all of the EU and US and what the hell most of the middle east is already the bankers bitch, they'll throw them in too. 

Wed, 03/21/2012 - 02:40 | Link to Comment q99x2
q99x2's picture

Just a thought. It might be a lot easier to take over the banksters and redistribute their stolen assets to kickstart the economy. Probably an outline on the internet as to how to regain democracy through referrendum.

Wed, 03/21/2012 - 20:09 | Link to Comment BiggerInJapan
BiggerInJapan's picture

People have what they voted for!

Wed, 03/21/2012 - 03:46 | Link to Comment BiggerInJapan
BiggerInJapan's picture

Filhos da Puta, Cabrões dum caralho, que comam merda da grande, com especial carinho para o pessoal da Alfandega de Lisboa(e provavelmente todas as outras), chulos e paneleiros já não vos tenho de ouvir todos os dias!!!

 

Tenho lo dito!!!

Wed, 03/21/2012 - 04:05 | Link to Comment cnhedge
Wed, 03/21/2012 - 06:42 | Link to Comment avbraz
avbraz's picture

Who the fuck is Irene Pimentel? Do you want the Comunist Party youth leader contact? You can quote him saying that the revolution allready started...

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