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Rosenberg, Ryding, Zandi, Arbess, Zuckermann And Rickards All Chime In On The Future Of The Eurozone
When six out of five economists (thanks to the magic of Keynesianism... and self promotion from general counsel to general expert) all agree on the same topic, and the very definition of groupthink is that the Eurozone will survive, the glaringly obvious call is precisely the opposite. If there was ever an argument to say that 2012 is the year the Eurozone finally dies, the below video is it.
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The Eurozone is dead....long live the Eurozone!
If the Euro were to die, then what would fill in the news void of daily EuroZone meltdowns that we've become so accustomed to? The EuroZone worsens on a daily basis, and each day brings a new crisis with a new bandaid solution. It's far too valuable as a news item to be allowed to die.
Um, other places like China. It's over with the PIIGS, 15 minutes, yesterdays news... now it's time for France, UK and US aka FUK US.
You almost nailed it ... but what about Germany and China? Perhaps FUCK GUS ...
Jesus isn't supposed to swear...
Acronyms don't count as swear words.
I love religious technicalities. Like my Mormon friends who say fetch instead of fuck.
And then will the US, Japanese, British and Chinese economies survive?
Not as they currently are created with the unbearable debt loads they carry on their Keynesian weakling shoulders. So they then deflate the FCUK out of the currencies, then impose martial-ish law. Its the formula that works (for Fascists)
ANd if six out of five US citizens - thanks to the magical superiority of simple being a US'ian - agree that EU will disintegrate and thus the US will rule the world forever - then one can be sure that said US'ians have a nice and warm and fuzzy feeling about themselves and that their divinely superior god-likeness over all others - and that his feeling is entirely based on real fact real knowledge and simply real supremacy of character, wit, cunning, courage, inventiveness, responsibility and HEART - that obviously there is no way they could be wrong and thus unlike the case with any other race and nationality of human beings such conviction and confidence wil not produce the opposite result but rather exactly the expected and projected supremacy.
God created US and its citizens to rule the world and to give name to all things and create global order for US'ians are God's chosen people and only US'ians know all things.
I know that. It is true. Which is why it makes me wonder... - since we do know that EU and the ridiculous, insignificant and inferior Europeans will fail miserably and disintegrate and suffer and die in their sub-human self-created misery - why are US'ians so obsessivly observing and debating this self-evidenty trajectory?
Aren't we supposed to be busy being the ruling super-humans we are - creating wealth and order out of thin air and out of our sheer and superior intellects, great hearts and cunning corporations ?
don't forget Belgium and Japan, BJ for everyone
That's easy. The story line will then turn to the meltdown in the U.S. dollar. That is my fear of the Euro problem being resolved. We are next in line.
@SD1
Funny & Classic...
But... Playing BOTH SIDES (which, in the end, is the "bet" one is making by issuing that statement), is a bit like holding a $2 bet ticket on BOTH "War Admiral" & "Seabiscuit"...
http://www.youtube.com/watch?v=WVT2MPNCqgM
Make no mistake about it... The "EURO" (& Eurozone, for that matter)... Is... Was... a "bet" on the NWO (for it was the first major attempt at a one world currency which would turn A BILLION "western consumers into socialistic debt slaves)...
The "NWO" IS NOT GOING TO let go of that "bet ticket" easily (even with a 4 length defecit down the backstretch at the Pimlico Special of 1938)...
...of course, in a different spin on REALITY... I could have ALSO linked up the (2003) movie documentary version of the same match race...
But NBC UNIVERSAL (who hold the rights to such), are fucking NWO "bitch fucks" with NWO dicks in their asses... Therefore, you are not able to enjoy any creativity conjured by humans without paying a FEE to them...
So... again... I ask... How do you suppose this will all turn out?...
Limp along...
It's pronounced, "muddle through".
Funny thing is there has been no such thing. Ever. System is desiged that way, either you grow or you don't. Don't it is.
Very true theres never been any stagnant economic model, either its expanding or contracting.
Let the burning begin!
A EURO is slightly larger than a US Dollar so it's intrinsic value is 12.45 BTU.
That joke lost its humor in August.
Why? Because that's when it became true, and therefore no longer funny?
Don't you have a friend that isn't funny but got lucky and said something funny once? Now he keeps bringing that one funny incident up.
It's like that. It just lost it's humor. It happens.
You're on the internet. The place where nothing is ever lost, but merely waiting to be found again. If something on it is stale, it's because you just don't get around enough. ;-)
ZeroHedge, porn, repeat.
Our optimism will cause it to survive.
I just bought some hopium (HPM) call options for Jan '13, but I'm gonna offload them before the election..
The one question they should be asked is HOW the Euro will survive.
For those who say PIIGS can't fly, watch the
P ortugal
I reland
G reece
FLY out of the EMU along with Hungary and other Eastern European nations onboard.
Groupthink does not necessarily equal being wrong. This is not the stock market where contrarian stance is helpful in picking tops/bottoms due to oversold/bought conditions and no more sellers/buyers available to step in to keep momentum moving. This is a political decision. It has nothing to do with buyers/sellers. If there is political will by the technocrats and the leaders in the EU, the EU and the ECB can punt this ball down the road for another 5 years.... Buying unlimited soverign bonds and printing money is an obvious option and it is TBD whether they will or not....
I'm reminded of the Polish (or Russian) worker who said before their system collapsed, "they pretend to pay us and we pretend to work". True, political systems are not economic transactions to be bought and sold, just social organization held together by the power of force and guns. I expect America's public employee enforcers will balk at busting heads when they realize that their pensions and their wages aren't worth squat.
If Bernie Madoff was still running his Ponzi he would also be in that video harking the EURO.
The Euro may survive, but only by austerity. And Zandi is wrong more than he is right.
The euro WILL survive!!
As a collectors item...
Right! I absolutely have to find and buy the Italian set 2011 and 2012!
The same guy selling Zimbabwe Dollars on eBay will be selling EURO's too.
"The euro WILL survive!!" Yeah, right; in the way that, since history has already happened, it's technically unerasable.
On another note, I'm slightly concerned that Orwell's great works--meant as warnings to the masses--have instead been put to greater use in 'ironing out' and implementing the tyranny against which he wrote.
Can you name a time where Zandi has ever been right? I sure can't.
Dig the format, fisheye lens, standing in the same escape route as the others from the same conference or symposium or cattle call, as though Draghi or Timmah were standing next to the camera with a gun and one of those big checks you get on gameshows where the numbers are big enough for the studio audience to see. And the teleprompter is saying,
EURO + love,
OR
BANG and no money.
Almost through rickards "currency wars." Just another parasite feeding off the hosts of citizens. Know thy enemies. Read it all from the devil to God. Low vol Dec ramp, with enormous outflows accelerating, says we all know who the minions of bag holders will be. Very little time left to exit the collapsing system. I'm out of it as of 2010. Before I put 2012. What am I thinking? I have more common sense; or light of truth than to let the liars pork my serenity now.
Rickards got his $17.95
Open a bank account in Norway if you are euro shy.
Rosenberg vs Tyler. First it was the $content$ issue, now openly spitting in his face.
This is war!
What is the sound of one hand clapping? Or more relevant - is it still the Euro if only Germany uses it LOL!
Waiting for S&P to downgrade France...
F*ck!
Amazing groupthink (analogous groupthink that predicted the treasuries selloff for 2011 last year) and they also think that they are contrarians!
After listening to this groupthink, I feel as Hugh Hendry felt in this video:
http://www.youtube.com/watch?v=-DN_eZHxa8Q
Most ZHers seem to believe that the ECB and the Fed are very similar. In principle they are not. The Euro could survive without any number of the countries using it continuing to do so. If the ECB behaves like the Fed then its fate will be the same as the Fed. If they resist the call to print could they not survive as the reserve currency?
Surely the Fed was not designed to fizzle out after a hundred years. If it were to have been, then I would see that as part of a design to transition to a global version of the same. Or if it doesn't implode or explode, perhaps the design is that it is simply meant to keep bloating as it is doing, until, on the Fed's balance sheet, lies the ownership of every underperforming mortgage, insolvent bank, and 51+% of the stock market in the US.
How to maintain inflation when most everybody is too poor to afford anything? "Nominal GDP targeting", aka, QE(?)?
When was the euro supposed to die ? In 5 day ? In 3 Weeks? By the end of the year? Seldom heard so many "Experts" beeing so convinced on something that is a complete non issue. Its like saying the US will give up the dollar or Texas will introduce the Texo.
The real Issue is Goverment overspending and Europe is atleast trying to fix that. America will have to wait for Ron Paul to jump on that train if he ever gets elected.
European citizens: BEWARE. There will come a day when you wish you had acted earlier to stop the destroyers.
it is entirely moot if the "euro" survives.The IMF/ECB contrivance for the sustenance of debt and credit structures will "survive". Meanwhile the accompanying asset re-allocation and transference of wealth to privatization of public resources and government imposed austerity measures will assure that the definition of "survival" or "existence" will come to have more critical and debatable importance in the minds of most euro/peons than what used to be called "living".
no doubt the euro is fatally flawed.
but is there a scenario in which the fed saves it, to keep the central bankers ship afloat worldwide?
asking because i dont know - ignore legal ramifactions too, they will find a way around.
All they need is a "fail-proof" counter-party, like say... the IMF (or the BIS).
The idea that the EU will disintegrate is the very scare tactic that is being used to create the mandate to force it upon "the people." Any collapse is nothing more than Hegel's first step toward further synthesis.
Eventually, "the people" tire of the constant pain, and will resign themselves to their fate of citizen-slave.
The unsinkable ship
"not even god could sink the titanic"
"peace in our time"
"the sun never sets on the British empire"
Mans hubris knows no limit
and now.............HERE IS ROSIE....................
I don't see the Euro swimming upstream against history. I don't see the USD doing that, either. Fiat currency and fractional banking all run their course, like any other Ponzi scheme. It takes an average of about 40 years, but they all go over the falls, without a barrel.
http://georgesblogforum.wordpress.com/2011/11/02/the-daily-climb-2/
The leading proponent of Keynesianism, Krugman, actually disagrees with these guys. Not sure he would put a date on it but I think he's made it clear that he thinks the Euro is a goner.
Max Keiser got me into finance, which includes getting me into both Zerohedge and James Rickards. In this case, I believe Jim Rickards will be proven correct. They will keep the Euro afloat at all costs. Not just because they need to devalue the US dollar against it, but also because I've been watching the NWO world governance organizations finalizing themselves over the last 12 years. The EU is a vital part of building the One World technocrat government. The Bilderbergs and the Trilaterals and the CFR types and the UN and the G20/G8/Gwhatever ALL need this to happen, therefore the EU will remain, whatever the cost to the rest of us. So will the Asian union and the Latin American union. A North American union is already manifesting with collaboration and integration between USA law enforcement with that of Mexico & Canada. The sooner you realize you are mere fuel for the furnace of the EU and adapt accordingly, the less stress you're going to cause yourself in the long run.
Hopium springs eternal.
"BEEP - BEEP - BEEP"
Oh, I think my ipad is ready to come out of the microwave...BRB
:)
2012 - S&P Down - Sell your short, S&P Up - Buy your short, Repeat. If Market tanks while parked - good. If Market tanks while short - really good.
"And we were singin'...bye bye Miss Euro Pie, drove my Fiat to the Seine but the Seine was dry, and good ole' girls drinkin' Absinthe and Jaeger, singin' this'ill be the year the Euro dies...this'ill be the year the Euro dies...."
"Simply because it's in everyones interest".....exactly whom is everyone?
"Simply because it's in everyones interest".....exactly whom is everyone?"
..........................
Everyone is all nations that use fiat currency based on nothing but 'full faith and credit' of the issuing soverign nation.
If one fails then attention will quickly switch to the next fiat in line, which would precipitate a rush into commodities, real estate, and other tangible items of value.
Central banks and governments do not want this outcome.
If the Euro Currency fails another fiat currency/currencies will be introduced... So, whats all the fuss about?
Too many Jews in that video. Oh, economists. Got it.
I lol'd. The best comedy is rooted in truth - and Jews wonder why people are wary of them.
In terms of the Euro, it has to limp along, right? All policy makers seem to want to do is kick the can down the road, a zesty through ball into the hearts and bank accounts of those who stand to make money if the Euro survives.
Soverignty will have another say in that, though.
the happy music in the background makes me feel goood about the Euro!
do dadada do dadada do dadada do ....
I'm sick of hearing this 'it's in everyone's interest so it will survive' argument. That might work if the interests of each countries' institutions, politicians and electorates were aligned, but they are not. When people say Germany thinks this or that, it's a monstrous simplification of the complex reality. In fact politicians' interests are not necessarily aligned with the greater good of their own country, let alone the eurozone. The same goes for each countries' institutions and of course the eurozone institutions such as the ECB and the Council. If you want a brutal example of how things can go wrong have a think about World War One. That was in no one's interest except a few self agrandising politicians (they were wrong about that even) and the arms manufacturers (they were right). It still happened and caused massive destruction of wealth, changed the fate and development of nations and altered the global balance of power for ever in Europe's disfavor.
You might well be right. The Euro problem is an ego problem of the politicans, nothing more, nothing less. Just to kick the can a bit further.
Let them start dealing with the real problem which is the crushing debt. They can't; they won't. So we are now talking about a non-issue as the Euro....zzz
Start talking about dismantling the entitlement state.
But even then..suppose they "stabilise" things..what then..buy, buy, buy?
Let's just hope the financial system burns down to the ground soon. This or mayhem and despair for the coming 30 years ending in war.
#1: The best interests of the politicians and banksters: the EU continues to exist and run roughshod on the people.
#2: The best interests of the people (the 99%): the EU vanishes like a fart in a category 5 cyclone.