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Socialist Lampoon's European Vacation Is Over As Merkel Calls To Order

Tyler Durden's picture




 

Ahead of this week's 'critical' game-changing events - or not - it seems Europe's true overlord-ess is back, and now, tanned and relaxed, she is making clear that nothing about her (or her country's) view of the world has changed - no matter how much Draghi, Monti, Hollande, Rajoy or Samaras jawbone about it. It would seem by her words that expectations are being set and conditionality remains key - which means no matter what the ECB does - it is a can-kick no nearer an end-solution; and the market in its wisdom will price through that can-kick (after knee-jerking first of course): (via Bloomberg)

  • *MERKEL SAYS `DEBT MEANS DEPENDENCY'
  • *MERKEL SAYS EU MUST ENSURE THAT IT FIRST EARNS WHAT IT SPENDS
  • *MERKEL SAYS `ECONOMY THERE FOR PEOPLE, NOT PEOPLE FOR ECONOMY'
  • *MERKEL SAYS EUROPE HAS TO LEARN TO ONLY SPEND WHAT IT TAKES IN
  • *MERKEL SAYS TOO MANY IN EUROPE HAVE LIVED BEYOND THEIR MEANS
  • *MERKEL 'ABSOLUTELY CONFIDENCE' ECB TO WORK WITHIN ITS MANDATE
 

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Mon, 09/03/2012 - 09:14 | 2757443 solgundy
solgundy's picture

Obama & Draghi have put Kill orders out on Merkel

Mon, 09/03/2012 - 12:25 | 2757861 ParkAveFlasher
ParkAveFlasher's picture

Nein, bitchez.

Mon, 09/03/2012 - 13:15 | 2757965 AldousHuxley
AldousHuxley's picture

lazy = idle rich = capitalists who make money gambling

 

http://www.willisms.com/archives/luckyorlazy.gif

 

workers get lazy once they find out luck overrides merit and hard work.

workers smarten up and aim for happiness rather than money for sake  of one-upmanship.

 

upper class maintain control by convincing 99% that they too can join the 1% if they work hard enough.

in europe social structure is rigid.

 

America is following suit.

Mon, 09/03/2012 - 15:36 | 2758370 LMAOLORI
Mon, 09/03/2012 - 09:15 | 2757445 SheepRevolution
SheepRevolution's picture

Oh dear... Has she been reading von Mises?

Mon, 09/03/2012 - 09:29 | 2757473 Catullus
Catullus's picture

How do you get that from the 6 bullet points above?

Mon, 09/03/2012 - 09:16 | 2757448 TIMBEEER
TIMBEEER's picture

"Montii, Gollum, Marioo.. Mommy's home, time to go to bed now!"

Mon, 09/03/2012 - 09:24 | 2757449 mvsjcl
mvsjcl's picture

.EU MUST ENSURE THAT IT FIRST TAXES WHAT IT SPENDS

Mon, 09/03/2012 - 09:58 | 2757542 paulie
paulie's picture

In Italy we are already doing that.

As it turns out, surprise surprise debt increases anyway.

Waiting for the next tax.

Mon, 09/03/2012 - 09:17 | 2757450 LawsofPhysics
LawsofPhysics's picture

So, the PIIGS will all leave the eurozone?  How would that work out for Germany again? 

Mon, 09/03/2012 - 09:56 | 2757535 Bobbyrib
Bobbyrib's picture

Better in the long run for all involved. Of course short term Germany loses markets to export their goods to.

Mon, 09/03/2012 - 12:26 | 2757865 ParkAveFlasher
ParkAveFlasher's picture

Not exactly, I'm sure many contracts could have been awarded in advance.

Mon, 09/03/2012 - 09:18 | 2757452 spastic_colon
spastic_colon's picture

will still be bullish for the first trading day of Sept. tomorrow in the US

Mon, 09/03/2012 - 09:22 | 2757462 bezell
bezell's picture

Solution :HYPERINFLATION TO WASH AWAY THE DIRT OR WIPE THE SLATE CLEAN

Mon, 09/03/2012 - 09:36 | 2757492 paulie
paulie's picture

What you suggest is the only thing to do.

But printing money damages returns on capital. People who work should see no difference, but those (banks) who don't would see a depreciation of their assets (loans).

That's why they don't do it. Still it's the only thing to do.

Mon, 09/03/2012 - 09:24 | 2757465 Boilermaker
Boilermaker's picture

ES ram rodded even higher, anyway.

Mon, 09/03/2012 - 09:25 | 2757467 ghenny
ghenny's picture

Merkel has to talk out of both sides of her mouth in order to cover her tracks both ways when Greece and possibly Portugal and Spain exit the euro.  She is a very clever politician as well as an outstanding Chancellor.  She knows Germany needs EU export markets but different countries have different needs that cannot all be accomodated within the Eurozone at this time.  So, she has to play a carefully orchestrated kick the can down the road game and let the forces for money printing versus austerity play off against each other in a finely tuned dance that she can manupulate behind the scenes.  Germany will get through this in pretty good shape and she will be reelected.  What happens to everyone else is another matter.  That is not necessarily her concern.  Her job is to take care of Germany and to the extent it helps Germany to take care of Europe in whatever fashion achieves maximum benefits for Germany.

Mon, 09/03/2012 - 09:32 | 2757480 Terp
Terp's picture

outstanding Chancellor.

 

I almost choked.

 

 

Mon, 09/03/2012 - 09:51 | 2757523 HardAssets
HardAssets's picture

Yes, they said that about Adolf in the early days too

Mon, 09/03/2012 - 09:39 | 2757497 i-dog
i-dog's picture

That seems like a sensible post ... but ... I call bullshit.

Socialists the world over still dream of a world socialist order (whether they support the NWO or not). European socialists will never discard their dream of a centrally planned Europe. Merkel's backers will not allow her to depart from expanding both the EZ and the EU ... they couldn't care less about the German people.

Socialists mind everyone's business but their own!

Mon, 09/03/2012 - 09:44 | 2757506 paulie
paulie's picture

In other words she still doesn't understand why we can't all be net exporters on this planet.

Mon, 09/03/2012 - 09:48 | 2757517 CrashisOptimistic
CrashisOptimistic's picture

As usual, most people, including you, are forgetting the credit default swaps.

If I were Rajoy I would be encouraging Spanish banks to get as many created on Spanish bank bonds and on Spanish sovereign bonds as possible.  Just run up the amount to 10s of trillions.

Then you, Rajoy, have leverage.  

"If you don't send us money . . . WITHOUT CONDITIONS AND SUBORDINATED TO ALL OTHER BONDHOLDERS . . . the world blows up."

Mon, 09/03/2012 - 09:27 | 2757471 Catullus
Catullus's picture

*MERKEL SAYS `ECONOMY THERE FOR PEOPLE, NOT PEOPLE FOR ECONOMY

By "people", she means government.  Let's read that back to you "Private exchange is there [to serve the] for the goverment, not the government for private exchange."

She's was a socialist as a child and she's still a socialist.  There's nothing "conservative" about her. 

Mon, 09/03/2012 - 09:31 | 2757479 LawsofPhysics
LawsofPhysics's picture

So what you are saying is that one of the countries in europe with the most wealth is socialist.  What about the Swiss, oh yeah, they are socialist too.

I hope you are not trying to make a GOP-related point here.

Parhaps you better go look up the definition of "fascist".

Mon, 09/03/2012 - 09:42 | 2757500 Terp
Terp's picture

Ok, lets see...

 

government mandated healthcare...check

government mandated pension...check

governmant regulated energy costs...check

government regulated food prices...check

government regulated hookers...

shall I go on?

Sounds all pretty socialist to me...

 

Of course its never socialist enough if you ask the right folks...

Mon, 09/03/2012 - 10:01 | 2757536 LawsofPhysics
LawsofPhysics's picture

Please, wake the fuck up. There is a fucking difference between socialism and fascism. At the end of the day a real company has to provide those services.  Look closer, the state has been picking the winners and losers.

How stupid are you?  Even in a true socialist model, contracts are put out to bid.  In other words, there is still a competitive process.

Again, wake the fuck up, it isn't socialism if a relative few private companies (and their owners) own the people's government and award themselves contracts at the expense of ALL the taxpayers.

Shit, at least true socialism would be a fucking step closer to a free market than what we or Germany have right fucking now.

Fuck ALL the "isms" give me a free fucking market and liberty.

Mon, 09/03/2012 - 10:04 | 2757561 paulie
paulie's picture

Free market is the originating cause of all this mess.

Protectionism is the only choice.

Mon, 09/03/2012 - 11:01 | 2757671 Sofa King Confused
Sofa King Confused's picture

Better to remain silent and be thought a fool than to speak out and remove all doubt.

Abraham Lincoln

Mon, 09/03/2012 - 11:36 | 2757730 falak pema
falak pema's picture

He got shot in the back for speaking out; was that foolish or worse?

Some say it was better than worse, others say it was buttering up to gun salesmen.

I say it was History in the making.

Now I'm the fool who should have stayed silent.

According to this  "wise" book phrase Free will is the expression of a silent wish or just the art of a man passing wind. 

We all have to try...that is the humble and humbling  truth.

Mon, 09/03/2012 - 10:06 | 2757568 paulie
paulie's picture

message deleted

Mon, 09/03/2012 - 10:28 | 2757621 i-dog
i-dog's picture

You should have deleted the other one, too. It's not a good idea to display your ignorance in a public forum.

Mon, 09/03/2012 - 13:43 | 2758068 mendigo
mendigo's picture

I suspect he was joking.

Mon, 09/03/2012 - 10:10 | 2757581 Catullus
Catullus's picture

I'm going to respond to this to lock in your response. 

This post represents such a fundamental misunderstanding of comparative political economy that it's difficult to respond. 

Fascism is a form of socialism.  Socialism is a subset of collectivism.  Fascism's main goal is direct the economy in such a way that it achieves the highest possible benefit to the state.  Socialism's main tenant is that the state is society.  Those two things are not mutually exclusive. Fascism is one way to achieve socialism. 

Under fascism, there is a semblance of private property that remains.  But the state allows that private property so long as it benefits the state.  At the point of which is does not, the state attempts to seize it.  Communism (another form of socialism) does away with private property altogether.  Social Democracy (yet another form of socialism) holds that the state may seize property after a certain number of people have voted to take it way from someone. 

Putting out to bid means absolutely nothing and demonstrates that you're caught up in the minutia of methods employed by the state to further itself. 

Mon, 09/03/2012 - 10:14 | 2757590 LawsofPhysics
LawsofPhysics's picture

More mental masterbation.  What part of "fuck all the isms" don't you understand?  I build real wealth in my employees, friends and neighbors and you stink of fear.  

Mon, 09/03/2012 - 10:17 | 2757600 Catullus
Catullus's picture

What part of "fuck all the isms" don't you understand?

The part where words describe concepts.

Mon, 09/03/2012 - 10:23 | 2757611 LawsofPhysics
LawsofPhysics's picture

Which, just like your posts, is meaningless bullshit.  Real goods and services will rule the day and the problems of tomorrow will (once again) be settled by blood and iron.

Mon, 09/03/2012 - 10:33 | 2757620 Catullus
Catullus's picture

Thanks for the ego-trip this morning. I've really enjoyed it. I've destroyed enough brain cells responding to you.

My favorite is that you start off by correcting me that Germany or Merkel (I couldn't figure that part out) is really a fascist and not a socialist.  Then tell me to wake up because they're different.  Then say "fuck all -isms" as if actually trying to determine what these words actually mean is a waste of time... because real goods and services will the rule the day (whatever the fuck that means).

Cheers, bitchez

Mon, 09/03/2012 - 10:44 | 2757646 LawsofPhysics
LawsofPhysics's picture

Felt like trolling this morning and you took the bait.  Go back to graduate school.  Folks in the real world who produce things of real value will take it from here.  We are heading into a currency crisis and if you don't think real goods and services rule the day when paper promises die, well then you are beyond stupid and should probably save what brian cells you have left, so fucking off, is indeed a good call on your part.

Mon, 09/03/2012 - 11:08 | 2757686 Catullus
Catullus's picture

Ah. Fun times. I normally don't respond, but I'm trying to figure out system registry problems and cursing Microsoft until no end.

Mon, 09/03/2012 - 16:46 | 2758597 Ricky Bobby
Ricky Bobby's picture

We are happy you have built such wealth. I am here from the people’s bureau for ethnic and gender advancement. The party has been deemed that the best way to advance these groups is for the donation of your property. Don’t fret comrade we appreciate all the work you have done and the party will honor your contribution. We will notify you where to pick up your medals; in the meantime you have 30 days to vacate this premise.

Mon, 09/03/2012 - 13:23 | 2757992 Eff
Eff's picture

Well, in the end it comes down to 'Who benefits most'. And obviously, not the people in any country really do  ...so no socialism there. Where does all the money go in the end? Who gets richer (which translates to 'gets more leverage over others' in this financial dept system), and who looses in the end?

With big / financial business more or less owning the governments, it pretty much looks like some form of disguised fascism to me.

Mon, 09/03/2012 - 09:46 | 2757509 Catullus
Catullus's picture

No.  I'm saying Angela Merkel is a socialist.

Mon, 09/03/2012 - 09:48 | 2757518 LawsofPhysics
LawsofPhysics's picture

We got that.  Look again, what I am saying is she is a fascist.  Wake the fuck up, the state has been picking the winners and losers in Germany since WWII.

Mon, 09/03/2012 - 09:51 | 2757524 Catullus
Catullus's picture

What the fuck are you talking about?

Mon, 09/03/2012 - 10:00 | 2757547 LawsofPhysics
LawsofPhysics's picture

Ever lived in Germany?  Go take a closer look at how the state awards contracts.  Educate yourself.  Prettty easy to be a "competitive" company if you own the government and award yourself a competitive advantage.

Happening in America right now.  Be very careful what you wish for.

Mon, 09/03/2012 - 10:13 | 2757587 Catullus
Catullus's picture

What am I wishing for exactly?

Mon, 09/03/2012 - 10:03 | 2757557 Terp
Terp's picture

Re: your post 9.48:

Has it ever occurred to you that the two are basically the same in regards to free markets and governmental intervention?

 

 

Mon, 09/03/2012 - 10:15 | 2757595 LawsofPhysics
LawsofPhysics's picture

What part of "fuck all the isms" don't you understand?

Mon, 09/03/2012 - 11:07 | 2757684 Terp
Terp's picture

Missed that post between all the replies.

 

Good on you.

Mon, 09/03/2012 - 09:55 | 2757530 HardAssets
HardAssets's picture

All the 'isms' are paid-off intelluctual fabricated b.s., & designed to cover up robbery

Mon, 09/03/2012 - 10:17 | 2757598 LawsofPhysics
LawsofPhysics's picture

Correct.  Theft, is theft, is theft...  ...it can only continue so long as i) there are people that allow it or ii) there is something left to steal.

Mon, 09/03/2012 - 09:35 | 2757488 Dr. Engali
Dr. Engali's picture

I love how they try to paint these people as conservatives when they all have the same policies. Take Obummer and Mittens for example. Can anybody point to a policy difference between the two? Nope, it all comes down to what color fascist you want in office.

Mon, 09/03/2012 - 10:20 | 2757606 nmewn
nmewn's picture

Well that one is a toughie.

Personally, I would prefer one that allows known things that do in fact work for the economy to take precedence over things that are speculative or heavilly subsidized...like energy.

Another might be the acknowlegement that people conducting voluntary exchanges of goods & services among each other (involving their own time & personal capital risk) is what constitutes a real economy and (placing tongue firmly in cheek) certainly not the mountains of regulatory compliance road hazards they have to swerve around along the highways & bridges in order to do it ;-)

Mon, 09/03/2012 - 11:02 | 2757659 Dr. Engali
Dr. Engali's picture

Unfortunatly for us Ron Paul isn't running. That's not to say he won't be getting any votes, I know I am writing him in, but the only real free market candidate isn't running.

Mon, 09/03/2012 - 11:01 | 2757674 nmewn
nmewn's picture

lol...no he's not, but everyones still free to throw away their vote thinking he is.

Its come down to the question of which of the available candidates, having the best chance of being president, is most closely aligned with ones view.

Its a no brainer for me...I was a bitter clinger before it was fashionable ;-)

Mon, 09/03/2012 - 11:24 | 2757694 Dr. Engali
Dr. Engali's picture

To be sure I understand Obama's vision for America is far more sinister and run deeper than Mitt's. But I also believe in principle ,and I never consider voting on principle is to throw one's vote away. I believe that to vote any other way than what I believe is to throw my principle's away.

I also believe that the die is already cast in this election. The rest is all show. I would rather send a message by writing in Ron Paul's name... There are a lot of us out here and we refuse to accept the status quo.

Mon, 09/03/2012 - 11:45 | 2757747 nmewn
nmewn's picture

I can appreciate and respect that...but now we find ourselves in a different arena, I wish it wasn't so but it is...you know as well as I do who I voted for in the Fla primary. That was my principled position, my next will be confronting the reality of survival within this unprincipled arena they attempt to bind us to.

I say again, I have always been ABO. He is the antithesis to my core principles and I will do nothing that gives him the slightest chance of prevailing.

We're not going to fight over this Doc, we'll just have to disagree.

Mon, 09/03/2012 - 12:01 | 2757769 Dr. Engali
Dr. Engali's picture

My intentions aren't too fight. I know and respect your philosophy and positions. We are on the same page with many of them. I do feel that we are in a war with Barry for the soul of this nation,so believe me when I say this is a war with my conciousness that I will fight with every day to the poles.

Mon, 09/03/2012 - 12:05 | 2757805 nmewn
nmewn's picture

I know Doc, I know...I decided I wouldn't become a prisoner to it a long time ago...the enemy of my enemy is still my friend ;-)

Mon, 09/03/2012 - 10:25 | 2757608 Muppet Pimp
Muppet Pimp's picture

The difference is what the next generations money gets spent on, there is no choice provided that stops the spending of money we don't have.  Obama favors more free shit for free loaders & Mittens wants the deficit to come via tax cuts with no equivelant offset in spending levels.  Those being the choices I'm going to have to go with Mittens on this one.  Despite whether or not the expanding nanny state can actually be maintained, the more important question is what happens to US when the character of our people is gone?  This is what Obama is really fighting for, the destruction of our principles as hard working independent people.  He has won the hearts of many with all the giveaways.  This is how once great nations go to shit.  He really wants the free shit brigade to believe that the successful 'didn't build that'.  That greatness can be achieved just by holding your hand out.

 http://online.wsj.com/article/SB10000872396390444914904577619671931313542.html?mod=WSJ_hp_mostpop_read

 

Mon, 09/03/2012 - 10:56 | 2757663 Dr. Engali
Dr. Engali's picture

I agree with you there. Obama 's major intent is to bring the United States to it's knees.

Mon, 09/03/2012 - 09:29 | 2757472 Overflow-admin
Overflow-admin's picture

Shrödinger cat is dead. Tomorrow it will be alive, don't worry, it's all about measurment timing...

Mon, 09/03/2012 - 09:30 | 2757475 Anasteus
Anasteus's picture

She's right but hypocritical. People have been living beyond their means for decades and no one cared, Germany has been profiting from it. All the ponzi is intrinsically based on loans, debt and 'beyond-means' life style. It's interesting that the 'wisdom' has come up just in the moment when the oligarchy has definitely screwed it all up, just rushing to find someone to sacrifice. A mere excuse.

Mon, 09/03/2012 - 09:57 | 2757539 HardAssets
HardAssets's picture

IMO they didnt 'screw up' anything

The next step will be to create a 'solution' to the 'problem' - - a new Euro wide economic/political order run by the banksters

Its all very obvious and elementary

Mon, 09/03/2012 - 12:13 | 2757632 i-dog
i-dog's picture

+1. Spot on! The Khazarian plan from the very beginning. "One ring [ed: I think "noose" is a better translation] to bind them...."

Mon, 09/03/2012 - 11:41 | 2757736 palmereldritch
palmereldritch's picture

More than likely, all according to plan. 

Obama through his massive debt accrual will supply the ordnance and Romney with his tax cutting and continued spending will supply the fuse for the demise of the USD (i.e. the FRN) through hyper-inflation or a currency domino induced prolonged banking holiday.

Those that will engineer the controlled demolition of regional currencies worldwide will be those offering solutions to the 'unforeseen and unavoidable crisis.'

The only thing yet to be determined will be if there is a spark before Romney or if this continual 'kick the can' approach has been serving the timing in a script that includes a technical end of term for the Federal Reserve in 2012 (if anyone has researched the credibility of this claim please provide!)

Beware of firefighters smelling of gasoline and dusted with the tell-tale signs of thermite.

Mon, 09/03/2012 - 11:55 | 2757773 Anasteus
Anasteus's picture

Maybe it's obvious to plan or to dream about but much more difficult to realize. Social engineering is not sort of mechanical construction with predictable input/output. Only naive individuals with missing or erased historical memory could set about such self-defeating insanity.

Mon, 09/03/2012 - 12:29 | 2757870 palmereldritch
palmereldritch's picture

Let me fill in your missing or erased historical memory for you:

Carroll Quigley wrote, in Tragedy and Hope: "There does exist, and has existed for a generation, an international Anglophile network which operates, to some extent, in the way the radical Right believes the Communists act…. I know of the operations of this network because I have studied it for twenty years and was permitted for two years, in the early 1960s, to examine its papers and secret records. I have no aversion to it or to most of its instruments. I have objected, both in the past and recently, to a few of its policies … but in general my chief difference of opinion is that it wishes to remain unknown, and I believe its role in history is significant enough to be known."

http://www.lewrockwell.com/yates/yates14.html

Mon, 09/03/2012 - 09:30 | 2757478 caimen garou
caimen garou's picture

Merkel says, the hell with all the piigs they can eat shit and fade into the sunset.

Mon, 09/03/2012 - 09:32 | 2757481 WhiteNight123129
WhiteNight123129's picture

Irony of the XXIst Century: Germany is the defender of individual freedom by resisting expansion of the State.

Germany ! Germany ! Germany ! Germany ! Germany ! Germany ! We never thought we would say that, but I LOVE YOU GERMANY AND MERKEL, KEEP DEFENDING THE SMALL GUY AGAINST THE EXPANSION OF THE GOV!!

 

NOT SUPRINSINGLY MERKEL IS A PHD IN PHYSICS (REAL STUFF) NOT PHONY WISHY WASHY XXTH CENTURY ECONOMICS!

 

Mon, 09/03/2012 - 11:19 | 2757707 Brit_Abroad
Brit_Abroad's picture

I hope for your sake you are being sarcastic.

If not you really need to try and keep up.

"Germany is the defender of individual freedom by resisting expansion of the State"

Laugh ? I nearly shat myself.

Try living here, you cant fart without needing some bollocks filled out in triplicate !!

Mon, 09/03/2012 - 12:11 | 2757823 palmereldritch
palmereldritch's picture

Given her extensive history as a communist progandist, despite official claims to the contrary, Mekel's profile better fits that of a bankster communist apparatchik operative than anything else.

That her father would move from Hamburg to the communist GDR in 1954 and that her family would quickly rise through the party ranks with perks and privileges unkown to 'the small guy' is intriguing and very suspect in light of the phony Cold War and its contribution as the greatest false left-right dialectic of the last half century.

A fascinating profile on her early history here:

http://www.german-views.de/2011/05/13/who-is-angela-merkel/

 

Mon, 09/03/2012 - 09:33 | 2757483 eigenvalue
eigenvalue's picture

Draghi is the most disgusting person I have ever seen. The inflation in the Eurozone is more than the 2% target. And this dickhead is still talking about "fixing the broken transmission mechanism". What does he want by fixing the mechanism? 6% inflation in the Eurozone?

Mon, 09/03/2012 - 13:48 | 2758051 mendigo
mendigo's picture

I love the phrase "broken transmission mechanism". It so perfectly captures the bureacratic mindset. Of course the mess and lack of improvement or even degradation of situation can in no way be associated with the eurocrats - its simply a broken transmission, an act of god or result of your failure to comprehend their genius. Even god cannot fully comprehend the genius of these masters of finiance that wish only to serve our best interest. Thank god for great leaders such as the dragqueen.

Mr banzai can't you paint us an image of this skill transmission repairman?

Mon, 09/03/2012 - 09:50 | 2757484 monad
monad's picture

Overlordess? Nah, she's just the resident CFR Governor to the QoE, and all this digital debt is the restablishment of all sovereign nations under the dominion of the city of london - using debt, employment, taxes and population as weapons. Our wealth is being used to install a suitably corrupted ruling class to steal everything else.

This isn't Labor Day, its Tax day. Thank your owners for her largess in giving you this day off. Soon they won't be so generous. Benevolent despotism? Are you kidding me? Look at the faces of the banksters. Do they look benevolent to you?

Mon, 09/03/2012 - 09:34 | 2757485 oldfruit1
oldfruit1's picture

all this is just political retoric released via the usual news outlets, ultimately, what matters is what merkel is going to push for to resolve the fact europe is awash in debt. is she a) going to cut greece (and or any other debt ridden countries) free of the eurozone b) cut off future bail out money (this conditionality stuff is nonsense as its like like greece/italy etc are ever going to meet any of the conditions as they have 0 fiscal discipline, if they agree to anything its just more empty promises) c) stop the ecb buying back bonds & racking up bad debt on the ecb bal;ance sheet? she seems mysteriously silent on any of these critical issues, frankly the market isnt interested in hearing any of it as its a case of 'see no evil & hear no evil', so we are likely imho to rumble on in this donkey cart till we are out of road .. could take several years for it finally to come to a head.

 

in the meantime, helicopter ben is likely to spray the market with more money in september, which will keep the show on the road in the medium term, the markets know it which is why the S&P is poised at highs depite bad data flowing out of china ..

 

    

Mon, 09/03/2012 - 10:27 | 2757487 merizobeach
merizobeach's picture

"Germany will get through this in pretty good shape"

Ghenny: You're making a pretty serious implication that there is an end in sight here.  I'm not prepared to assert that much yet.

Mon, 09/03/2012 - 09:36 | 2757489 falak pema
falak pema's picture

13th hour quarterbacking...

Mon, 09/03/2012 - 09:36 | 2757490 ThunderingTurd
ThunderingTurd's picture

Should the last bullet point be interpreted as saying, "Hey Mario, figure it out because the judges are going to bend your idea over the table without a reach-a-round."?

Mon, 09/03/2012 - 09:37 | 2757494 lizzy36
lizzy36's picture

Don't worry - Van Rompuy has decided to convene yet another fucking "special" hail mary conference on Nov 22/23. To discuss EU finances with EU ministers.

Somone should tell Von Rumple, that unless Monsanto, has seeded a money tree EU finances are still circling the drain..

Beginning to think that the only thing EU ministers want is to hear thier own voices in many many meeting. The core competency of a true technocrat.

Mon, 09/03/2012 - 09:43 | 2757502 IMA5U
IMA5U's picture

Talk is much cheeper than actually deploying capital

Mon, 09/03/2012 - 09:52 | 2757526 CrashisOptimistic
CrashisOptimistic's picture

Nope.  A conference, you see, is not an opportunity to hear yourself talk.

It's an opportunity to parade participants out in front of microphones to announce success -- regardless of what happens in the conference.  Just hit the microphones and announce success, worded as you have been informed the headline reading algorithms would like to see.

Mon, 09/03/2012 - 09:54 | 2757529 TIMBEEER
TIMBEEER's picture

"Hi, Dear, my name is Herman van Rumpuy; just Sméagol between friends. Actually, just call me Gollum .. Precious."

Mon, 09/03/2012 - 09:45 | 2757508 zilverreiger
zilverreiger's picture

the economy should BE the people, not something seperate

Mon, 09/03/2012 - 09:50 | 2757521 monopoly
monopoly's picture

*MERKEL SAYS EUROPE HAS TO LEARN TO ONLY SPEND WHAT IT TAKES IN.

Only spend what is has to spend. Oh that is good. Funny. Oh my. LOLOLOLOLO!

Since when?

Mon, 09/03/2012 - 10:07 | 2757571 GMadScientist
GMadScientist's picture

Germany has to learn that Europe "only spending what it takes in" will not be so great for Germany.

Mon, 09/03/2012 - 09:58 | 2757538 bentaxle
bentaxle's picture

"....First earn what it spends..."

Riiiiggghht. Last time she was faced with this suggestion, in respect of Berlusconi and Italy, it made her "smile with incredulity," or was it cringe? In the end Sarkozy had to answer the question for her - she was ROTFLherAO!

http://www.theweek.co.uk/europe/berlusconi-gaffe/35591/merkel-and-sarkozy-smirk-mention-berlusconi

Mon, 09/03/2012 - 09:59 | 2757545 asteroids
asteroids's picture

Come on boys, follow the pattern, "bullshit saviour rumor Thurs, Fri". Harsh reality Monday, Tues. How many times have we seen this.

Mon, 09/03/2012 - 10:02 | 2757556 km4
km4's picture

Germans want to cut Greece loose: poll

http://www.reuters.com/article/2012/09/03/us-eurozone-politics-poll-idUS...

 


Only a quarter of Germans think Greeceshould stay in the euro zone or get more help from other countries, an opinion poll showed on Monday.

 

The poll of 1,000 adults in Germany, Italy, Spain, France and Britain showed that only 26 percent of Germans believed Greece "will ever repay its bailout loans", compared with 77 percent of Italians and 57 percent of Spaniards.

Mon, 09/03/2012 - 10:05 | 2757569 GMadScientist
GMadScientist's picture

So....if you're going to apply for loans, do it in Italy or Spain. Gotcha.

Mon, 09/03/2012 - 10:04 | 2757563 GMadScientist
GMadScientist's picture

"The creatures outside looked from pig to man, and from man to pig, and from pig to man again; but already it was impossible to say which was which."

Mon, 09/03/2012 - 10:09 | 2757574 cynicalskeptic
cynicalskeptic's picture

  • *MERKEL SAYS `DEBT MEANS DEPENDENCY'
  • *MERKEL SAYSEU MUST ENSURE THAT IT FIRST EARNS WHAT IT SPENDS
  • *MERKEL SAYS `ECONOMY THERE FOR PEOPLE, NOT PEOPLE FOR ECONOMY'
  • *MERKEL SAYS EUROPE HAS TO LEARN TO ONLY SPEND WHAT IT TAKES IN
  • *MERKEL SAYS TOO MANY IN EUROPE HAVE LIVED BEYOND THEIR MEANS

and none of this is applicablke to the US right?     Keep your eye on the shiny object over there.... THERE not HERE....no look back THERE.... that's right... keep looking at Europe....Nothing to look at here in the US.....

 

Mon, 09/03/2012 - 11:44 | 2757744 mendigo
mendigo's picture

Yes two sides of same coin but entertainment factor is higher in Europe. US is careful to keep it as boring as possible. Europe is the exposed part that we can see and to some extent enjoy the comedy. Laugh today because tommorrow we may not be able.

Mon, 09/03/2012 - 10:24 | 2757599 RiskAverseAlertBlog
RiskAverseAlertBlog's picture

Act II Scene 1 - Attitude adjustment crisis of confidence enter stage far left swiftly mis-kicking can and instead booting Greece. Resources freed to appease Frau Faux Far Right (skillfully playing politics, desperately trying to end the misery), Brussels pimps beat her like the cheap whore she has ventured her entire political career not to be. The market satisfied, a few months time bought to dismantle the last vestiges of the fantasy of a euro zone benefitting one and all, the entire continent is converted into a slave labor/death camp to bring the market its last hurrah before the momentum of a tidal wave of liquidity washes up on the shores of the U.S. and the U.K. whose yet completed defensive barrier built of expanding global conflagration awaits suckers to glory in the superiority of their very own slave labor/death camp, indeed built by the same supra-national global banking dictatoship they today call "friend," but tomorrow brings them in line, too, to become but victims of imperial fun radically reducing the presence of what these imperial masters slanderously call a vile, destructive race.

Mon, 09/03/2012 - 10:31 | 2757626 phyregold
phyregold's picture

Maybe, i'm the only nut who wants to move his money out of the works IRA stock market options. </ sarc off>

 

However, I was thinking about bonds.  And the only two options that looks worth while is:

http://quote.morningstar.com/fund/f.aspx?t=US00247C7911 (Multimanager Core Bond)

http://quote.morningstar.com/fund/f.aspx?t=US2689546172 (pimco)

 

 

My thought is the entire world is going to inflate at the same rate, and when the stock market goes boom, i dont want to be any where near it.

 

What's the crazy ZH'ers thoughts?

 

And btw, there are no commodities options available to me, and i get taxed 35% if i pull my money out....

 

Lovely options eh?

Mon, 09/03/2012 - 10:39 | 2757636 falak pema
falak pema's picture

Merkel is two headed Janus? wow, which one to believe?

JungFrau of Bismarckian bend or Oligarchy patsy woman?

Time will tell, time always does! 

I know Big Ben is trying to stop the clock at 12 midnight, so that september 12 never rings.

Keep the can-kicking alive, the new olympic sport of the Oligarchy scam! 

 

Mon, 09/03/2012 - 11:00 | 2757658 PoliticiansDont...
PoliticiansDontThinkLongTerm's picture

I have been trying to find a more complete text of what Merkel actually said (always like to get the nuances, hey) but it seems ZH is the only one to have published this. Don´t even get them in the search results for BBG. Strange...

What I can find has a milder tone than the ZH quotes. Can somebody tell me what's going on here? Someone is messing around here!

 

Mon, 09/03/2012 - 11:05 | 2757677 Kalevi
Kalevi's picture

Dear Frau Merkel,

 

Did you say that Germany is not borrowing any more?

Mon, 09/03/2012 - 11:47 | 2757749 Wolferl
Wolferl's picture

Yep. There´s a no deficit clause in the German constitution now. 

Mon, 09/03/2012 - 11:25 | 2757716 mendigo
mendigo's picture

It seems to me that merkel is issueing statements to satisfy both sides. Why does zh over-look that detail and only cite the statement to suit its story-line?

Mon, 09/03/2012 - 11:38 | 2757733 ptoemmes
ptoemmes's picture

MERKEL 'ADMIT IT,  YOU MISSED ME IN AUGUST'

MERKEL 'WELL, I'M BACK'

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