Project Armageddon: Tullett Prebon "Thinks The Unthinkable"
When noted English financial firm Tullett Prebon releases a report titled "Thinking the Unthinkable", which just happens to be the last part of its Project Armageddon series, you know it will be good. While the report is UK-centric, and focuses primarily on the particulars of the English economy (thus making it required reading for our British-Isle based readers), the overarching observations are more than applicable in any place that has too much debt, too little cash flows, and not enough growth. So basically every "developed world" country. From the executive summary:"Project Armageddon was established to examine the possibility that both sides’ warnings are correct but that neither side’s prescriptions will work. We conclude that Britain’s debts are unsupportable without sustained economic growth, and that the economy, as currently configured, is aligned against growth. Radical solutions are required if a debt disaster is to be averted. All macroeconomic options have been tried, and have failed. The only remaining options lie in the field of supply-side reform. Unfortunately, public opinion may be inimical to the scale of reform that is required." Bingo: this is precisely the same big picture summary of what ails the US right about now. We eagerly await for someone to undertake the creation of Project Armageddon for the US: we are confident it will not be that much different.
Project Armageddon - The Final Report
(10 votes)
»
- Login or register to post comments
- 22034 reads
- Printer-friendly version
- Send to friend
Britain is screwed...bitchez
"expand the fiscal picture with a new war and everything gets better! world war 2 got us out!"
- krugman
david cameron, barack the kenyan (i mean keynesian), rick perry, sarah palin all nod. they like krugman.
http://azizonomics.com/2011/08/24/the-problem-with-military-keynesianism/
Winning WWII got the US out of depression. Britain was not so lucky.
I guess we have some Keynesians in the house.
Sink the Lusitania!
.
Basically the whole western economic structure is screwed ...
Whatever they have concocted, its NOT WORKING.
Billionaires are pulling in more billions, thats about the whole story.
It cannot continue, and they are not changing course either,
so it will be a disastrous ending...
Also, the US stated that the ship was only carrying passengers and was not supplying England's war effort. Turns out the ship was indeed suppling England with ammunition as a diver recently found out - http://www.archaeology.org/0901/trenches/lusitania.html
Simliarly, High School history teachers around the US teach children about the attack on Pearl Harbor as being unprovoked and part of the Japanese imperialistic agenda of taking over the world one country at a time. Never mind the oil embargo the US placed on Japan at the time. Let this piece of history be a lesson to all those "Iran sanctions now" crowd. As Congressman Paul recently noted, we are more likely to go to war with those we place sanctions on.
9/11 conspiracy theories make more sense than the official story, as we now surround Iran on every front. Couldn't have pulled so many troops around that area without the Muslim terrorist fun.
Thanks Dr. RH. Also, they knew of the Japanese fleet coming in. It was all one massive false-flag event.
Too difficult for most to swallow, that everything they;ve been taught may be wrong. As you will see downstream here, certain sacred cows here on the hedge too.
Vivek
The Japanese state banking model at the time was a threat to the Anglo-Saxon banking cartel's business model. As the result, Japan had to be put under control. December 7, 1941 was a deliberate setup for the Japs. Go visit US National Archive, and the truth will shock those sheeple.
The path to truth is a long and winding one. It took me a year to understand the gold-standard argument, but once it clicked it made sense and still does. Up until that point I would say, "Ron Paul looks realy good on some issues, but that gold/silver idea is nuts."
.
I am writing the U.S. counterpart analysis to this report, to be titled:
It's part of my Break On Through to the Other Side series.
Dude, as long as we don't run out of Soylent Green we'll be fine.
When that happens we're fucked.
http://www.youtube.com/watch?v=ABBQw6Ffbb8
iif u don't mind... your call sign there - where is it from? i just played someone in a fantasy football league game with the same handle...
An episode of South Park. The Avatar is from Northrop's Skunk Works.
Also, I'm a Cancer. Turn ons: puppies and sunsets. Turn offs: racism (not really but we all gotta say that).
aha , nice.
yes racism. i've never had problems with colour but i am a scummist.
i don't like scumbags of any colour
Don't worry. If you have a good bike, look how much fun the post-industrial world will become,
http://www.youtube.com/watch?v=ShbC5yVqOdI
Everyone should watch the above video. Off topic, but simply jaw dropping!
Wonder what an orthopedic surgeon would say about it?
Well BR, I would change that to "Participating in" WWII got the US out of the depression. The US did NOT win WWII. Germany or more specifically the Nazi's did.
Vivek
http://aadivaahan.wordpress.com/2011/08/24/precursor-03-bottom-falling-out-still-still-and-a-gander/#comment-3020
an uncommonly stupid statement. nice work.
Depends on whether or not The germans get all the gold in Europe as collateral for terms of a bailout that is impossible for all the other countries to repay.
Winning!?!?!?!
and if so, whether the Germans will kindly look the other way if the gold held 'in custody' under the NY Fed suddenly goes "POOF!"
WTF?
And what do you know Tip, but the basement of the FRBNY is foreign territory. German Territory?
It is in the minutes of an FOMC meeting, Greenspan asked the question, some one fromt he board answered and it was checked and re-checked amongst them. I even wrote to the Tyler's abou tit then.
it's not that the US holds German gold, Germany holds german gold on US soil.
Vivek
And by the way, all you junking and sarcastic bozos are thinking like the serfs you are. There is the PR aspect and there is the negotiated aspect of any "victory". All wars have negotiated endings.
And serfs have no clue what is negotiated. And all of you are showing knee-jerk reactionism of serfs. Cognitive dissonance over-whelm.
Think big guys, don't be docile believers in the myth of battlefield heroism (Jessica Lynch anyone) or the Iwo Jima can-do-istic, jingo-istic mind-control.
Next you will say Churchill was a great leader.
Bah!
Vivek
link?
This is all I have if it, the mail I sent them, march 26th 2010,
A trippy tip from India Friday, March 26, 2010 9:52 PM From: "Vivek Chttp://mail.yimg.com/a/i/us/pim/pimstrip_24.png); background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; text-align: left; float: left; width: 20px; height: 19px; display: block; zoom: 1; background-position: 0px -563px; background-repeat: no-repeat no-repeat;" title="View contact details" href="http://us.lrd.yahoo.com/_ylc=X3oDMTBtcDcxYXVrBF9TAzM5ODMwMTAyNwRhYwN2aWV...">View contact details To: tips@zerohedge.com
Greetings from Bangalore,Long-time unregistered reader here.
Was reading your FOMC minutes article last week (Dennis someone or the other's analysis of them) and something struck me as really odd.
Did Greenspan actually say that the basement of the FED or NY FED is foreign land? I sure as heaven read that.
As you all like to say, WTF?
Is that common knowledge and am I missing something? Are all FED basements foreign territories? Will that help them at some point when the proverbial poo hits rotating ceiling machine? What contorted legal privileges does that gives the FED/FEDS in case of some trumped up emergency?
Is it German territory perchance?
A simple (HA!) FOI request should sort this one out. Or again, maybe common knowledge. But think for a moment of how twisted legal eagles (especially them that wrote most of the laws anyways) could use that to their benefit.
Spent many years in the USof A (yes, I was part of the brain drain from India, now re-drained back here once the curtain was pulled from before me disbelieving eyes post 9/11 and all that has ensued).
Regards,
Vivek
PS: Anyone reading those minutes should be struck by how dumb/childish these guys sound. And yet they are brilliant too, clearly. Or were at any rate.
personally, i think it's silly for anyone to get all riled up about anybody holding anything within U.S. borders considering the preponderance of US military bases all over the map. but then again, i think it's silly to spend any amount of time and energy arguing over arbitrary lines on a map in the first place.
the world is whose oyster?
rothschild's
Brilliant operation twist there LOP.
Vivek
Get a grip and study your history through the eyes of your present, Vergeltung. Nice sounding handle by the way, it kind of rolls off the tung, if you know what I mean.
Anyways, Just google operation paperclip.
simple, one search and go in with an open mind. The look at CIA, NASA, NSA, FBI and their origins. Oh and while you are at it, ponder the preponderance of germanic whites and Jews in specific, mineral rich or otherwise "riches" laden belts/countries in South and Latin America.
Good luck.
Saem for the twaddle below. Do your home-work, Sleepwalkers.
Vivek
twat
I finally "flipped the bozo bit" on you, Regional. Beyond stupid. Useless.
Seriously smore....haaaaaaaahhhhhhha! just look at your avaatar.... too funny. Please, please don't pay me any attention. Look at where your mind is, trying to draw attention with a strip-tease.
Good grief!
Vivek
History of WWII:-
1. Started by the Germans
2. Fought by the Russians
3. Lost by us Brits
4. Won by the US
** UPDATE **
US cash left over from winning WWII has now all be spent.. and then some..
Actually Krugman is wrong, WW2 never ended, in fact going back to the Revolutionary War we've all just been in a constant state of ongoing war.
Orwell bitchez?
Eastasia, bitchez. Or is it Eurasia?
The scales are falling from your eyes, Sheepdog. The Empire Never Ended!
http://www.scribd.com/doc/3230/Robert-Crumb-The-Religious-Experience-of-...
it would appear so....
so then the question is. why?
Interesting. Has anyone treated war like an equity and do some TA on the process over the last 200 years? Are we in a topping pattern? Head and shoulders? Throw in Bollinger Bands and stuff to make it look neat! Better analysts than I will have to tackle that one.
@Sheepdog,
WWII has not started yet. What you refer to was the second flare up of WWI.
I believe I see his point: WWI was setup by the Concert of Europe (1815), and can be summarized by the words 'Keeping the lid on liberty.' I am sure I betray my Jesuit education by triposing everything into economic, political, and social terms....
Yeah it's amazing what having the only intact industrial base on the planet will do for exports. Only way a WW3 could "save" America is if the US was able to use a global decapitation strike and then destroy most of the the production centers for most major goods in the world. With our string of stunning victories in the past decade I doubt such an operation could be pulled off. Besides all that would happen even if it did was a rush of capital out of US to rebuild and use the newly reduced wages of newly destroyed world to compete.
On the plus side a WW3 would ensure a brutal currency collapse when price and wage controls fell away, further rewarding those who see the collapse coming. Maybe even get lucky and the troops would be away fighting and not able to suppress the locals here, got to stay hopeful right?
"Only way a WW3 could "save" America is if the US was able to use a global decapitation strike and then destroy most of the the production centers for most major goods in the world."
Yes, and I guess that means China. Ugh.
Yes, but also Japan and Germany as other major points of interest. If anyone thinks the US is capable of going toe to toe with the planet right now, and coming though unscathed is either insane or knows of some kind of super weapon that we serfs have no idea about. Plus I kinda got to assume if the US did try a major preemptive strike to disable global leadership that at least a few countries would see it coming and using nuclear retaliation, which would of course harm the war fighting capability as well as the post war recovery.
War is not the answer. Indeed if I had to lay out bets in a major war situation I would expect the US to lose because of the epic bloat in the logistical support structure (Hello no bid contracts!). We would simply be unable to fight a large scale conflict with the system that is in place.
EMPs are super weapons. One bomb in the upper atmosphere, and whole continents go dark, for decades. Instant rioting and starvation.
Right, let's just settle that issue right here. An EMP strike will, I grant you, take out all consumer electronics within it's area of effect. But it will not cause what you're suggesting. Military, Police and Govt shit is mostly shielded against EMP.A lot of medical stuff is, too.
And I know at LEAST 100 electronic engineers in my 'aquaintance group' (including myself) that have, literally, millions of transistors, diodes and other semiconductors stored in bog standard basic steel filing cabinets - totally EMP proof if you happen to know the laws of physics!. Not to mention the vacuum tubes that we've been storing for years - a slight aside, here, for those that don't know.. there are some tubes that can replace literally hundreds of transitors in what they can do. They're HUGELY energy inefficient, but they will work if it comes to that.
We engineers, at least in the UK and significant parts of the US, have known for years that the PTB are sooner or later gonna try to fuck us. And we've stitched up the aperture.
you talkin about a Faraday cage mitzi?
Wouldn't an EMP induce a spike in the power lines (grid)? i.e. magnetic field passing through a wire? If the bulk of the grid went, then there would be very few people with mains power. Pretty sure that any photovoltaics would be fucked as well.
I'm going to assume that the Military, Police and Govt buildings all have diesel generators and plenty of diesel.
If anyone thinks the US is capable of going toe to toe with the planet right now, and coming though unscathed is either insane or knows of some kind of super weapon that we serfs have no idea about.
The US most certainly can. No I am not insane. Nor will I elaborate.
Long defense stocks. Let killings begin.
Lest we forget, there was the Marshall Plan for Europe and enormous investment by U.S. in Japan, Korea, Taiwan and Philippines. Also, the U.S. had to totally retool after the war. It does not help to have production capacity without markets. Now, we have tremendous domestic markets, but a hollow shell of our former industrial base. What happened?
Marshal plan for Euorpe...hahaha
It does not HELP to have outstanding loans with no "economy" left to pay them back.
They were farmed for bankster tables.
It continues to this day...
There you go. Any "solution" is pointless unless there's accountabillity. The economy's not ruined because it had nowhere to go. It has been ruined because innovation and competition has been kept out the door, since it interfered with the ruling classes' business interests. I'm talking REAL innovation, which was on the table in the late sixties, and again in the eightties. That has been stonewalled and against better knowledge the present oil-finances (that ended with the housing boom) was milked until.... right now.
.
And yes the UK is fucked, it did not provide for a replacement of oil riches, instead relied on the added wealth generated by the City. Which those in control still do not want to give up, at the expense of their source of wealth, the UK itself.
The remind me of some 15th century nobillity, caught in the same mind trap; unwilling to recognise the wind already has changed. Of course there's a way out, there always is. It does require some out of the box thinking, and bravery to admit mistakes.
Because capitalism seeks to preserve and extend capital, and innovation and competition (free markets) threaten those goals.
When free markets succeed, capitalists lose, hence the destruction of free markets by capitalists. Those capitalists should be named, and their families exiled, so the restoration of free markets can begin.
The "final report of project armageddon"?
Anyone who doesn't understand that WW3 will involve bioweapons that threaten human survival just as much as nukes hasn't been paying attention. WW3 will be the END. Forget currency collapse, it will be the collapse of human existence on this planet, except perhaps for a very few who have the necessary antidotes. I say let's rise up now and start burning government buildings down before they can get this plan going!
And Britain is the US.
Don't underestimate the power of our bad dentalwork, bitchez. Or manly David Cameron. Right now, he's working on a plan for - a plan for - hey, is that a bunch of bedsheets tied together, dangling out the back window of 10 Downing Street? Good god.
Ok, shit, you got me, we're screwed. Look at that bastard go. Fast for a chubby Eton boy.
Ping,
Someone must have shouted "Faaaag!!"
Britian just like the rest of the World is tied to a horribly flawed fiat currency system. Luckily (or unluckily) for them, unlike greece, italy, spain, list goes on... they can print money over their flaws. But only for the short term. The Emperor has no clothes and this is finally starting to be realized Worldwide. We "will" be returning one way or another to some form of hard based money, whether they want to or not. Hope your buying your share of the dip.
http://silverliberationarmy.blogspot.com/
Hugo Chavez is the first leader of a nation that has figured that out.
Gold is the worlds reserve currency and some will be dragged kicking and screaming to it.
Figured out, no.. Lucky guess, yes. He is imposing statewide price controls of course he call it "fair pricing" hyperinflation here we come..
More like, doing what he's been told.
Q-daffy knew it too.
@shiforbrained_silver_booger:
hey, TROLL! i put this up about swami salami's incessant advertising and self-referencing on ZH, but FUK YOU, TOO!
(paste) i prefer to sweep with anti-SPYWARE software which has a Perform Custom Scan: Cookies option that takes about 3 seconds, maybe 10 if the spyware had been botted in by somebody we trust, like ORI, for example, for those of you who think "visiting" his site must me harmless b/c he's, like, a real spiritual person...
if the swami of self-propagananda-Vi-whatever his name is, today, hasn't already turned off the bot downloader after slewie's first "asswipe-advisory" post, earlier, b/c hundredz of his "peeps" saw it here and e-mailed it to him, immediately, of couse...
slewie's first rule for dealing w/ trolls: if you are styoooopid enuf to visit any site the trolls self-advertize on these strings, do not "register" with your real e-mail, and wipe your ass with an anti-spyware cookie scan 3-4 times while there and afterward, of course, before you wash your hands and, possibly, vomit projectiles, too...TPTB which pull his strings and also contol his site, remotely, (from shangri-lala land, of course) may refuse to pay him for the "hit", but that's his problem, not yours
but, it's FUN to click-click-click and make new "friends" isn't it?
You can't have job growth in the US with NAFTA, CAFTA, and GATT/WTO thanks to Bill Clinton and George Bush.
Triple AAA is screwed
Which will come first, Project Armageddon or Project Mayhem?
Each announces the other.
How about Project ArmIGeddingSum?
Vivek
Armageddon Bitchez!
"examine the possibility that both sides’ warnings are correct but that neither side’s prescriptions will work"
Brilliant.
the UK's hail mary was importing a ton of 3rd worlders who they hoped would be their next-stage on the pyramid of growth and instead those people just sucked the fucking State dry and have tried to impose sharia and shit everywhere they've gone, trying to take the UK to the state of the shithole they came from.
And you've got blacks rioting and burning and looting because the cops shot a gangbanger or because black youth are being frisked frequently (black youth commit nearly 100% of their crime where they comprise even a sizable minority). Juxtapose this with a pussy YT guilt population that has decided to commit suicide and you have a recipe for FUKD.
Children of Men...won't be Britain soldiering on...
Feel free to blame blacks and browns, but England was doomed in any case. Once the empire was gone, what did they have? Are you telling me that white Englanders can compare with, say, the Germans? All the English with any life force left for the USA. The place has been run by toffee noses for over 150 years.
Take it easy travKKK.
On what qualities then do they base those delusions of superiority?
"Are you telling me that white Englanders can compare with, say, the Germans?"
We kicked their arses in two world wars! And don't say it was all down to America; where were you when we fought the Battle of Britain. It was the invention of the cavity magnetron (more powerful radar), by the way which we gave to the US for nothing, and the spitfire that beat the Luftwaffe. Germans are great at engineering but they haven't the creative flair and inventiveness of the British. Anyway we are all friends now. I agree about the toffee nose bit though.
Bletchley Park anyone?
Good point! Alan Turing & Tommy Flowers - inventors of the first electronic programmable computer. No IBM, Microsoft, Google or Facebook without these guys.
"We kicked their arses in two world wars! And don't say it was all down to America; where were you when we fought the Battle of Britain."
LOLOLOLOLOLOLOLOLOLOL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
World war I? England was beaten, then the USA entered and saved old blighty.
WWII? I know you think I'm a stupid yank who doesn't know where the Soviet Union is, but I do. Battle of Britain versus the battle for Kursk. Not even close.
"Germans are great at engineering but they haven't the creative flair and inventiveness of the British."
I drive a Mini. One of the modern ones. Designed and manufactured in Deutschland by BMW. The engine is assembled in Brazil. The British are allowed to assemble the other parts into a final product.
Sorry matey, but the empire died after 1914.
You drive a mini.... ffs.
Why? ru gay? its ok if you are but just get a VW beetle and stop pretending you're a tough gay.
LOL
I also drive a pickup truck, and I don't have to reference John Wayne or Robert Duval to convince people I'm a tough guy.
"Sorry matey, but the empire died after 1914."
That's as may be, but yours is dying right before our eyes. Dragged down by a bunch of thieving kleptocrats who have hijacked the political process, the Treasury and the Federal Reserve.
I would say LMFAO, but it is no laughing matter. I used to love America, I still love the American people, but I despise your rotten political and financial system. And before you say ours is no better, I completely agree.
Is it dead? Let me check and see who has how many aircraft carriers roaming the ocean. The UK has 0, I believe.
Find out what the British have invented and discovered and compare it to what the Germans have invented and discovered. Your point about your mini is a point that I conceded in my post, so I am not sure why you brought it up. There is a big difference between inventing something and making something: one requires creativeness and genius, the other simply self discipline, good organisation and dedication.
I know you are joking here.
If we hadn't won the Battle of Britain there would have been no base from which to launch the D-Day landings. Had the Germans only had one front to fight on I suspect they would have beaten the Russians. Therefore, looked at in the round, if we didn't actually win the war alone, we certainly made the winning of it possible alone.
The battle of Kursk took place a year before D day. If the Americans and the British had waited another year, the Soviets would have been on the other side of the channel.