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Time Magazine FTW

Tyler Durden's picture




 

A little over a year ago, it was The Economist that captured the Zeitgeist perfectly with its iconic cover Acropolis Now. Little did it know how prescient it would be. Today, it's Time, and unfortunately for Europe (and maybe the west), this cover in retrospect will be spot on yet again.

We doubt any of our readers needs a summary of the items covered in this article but for those who wish to read it can do so at the following link.

 

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Thu, 08/11/2011 - 11:00 | 1550886 max2205
max2205's picture

BUY contraion

Thu, 08/11/2011 - 11:05 | 1550911 DormRoom
DormRoom's picture

why.. mother of all short squeeze in Europe.  Buy the rally near term!

Thu, 08/11/2011 - 11:21 | 1550973 flacon
flacon's picture

Is this the same magazine that had Ben Bernanke as MAN OF THE YEAR a couple years ago? I thought so. 

Thu, 08/11/2011 - 11:35 | 1551056 HomoHominiLupus
HomoHominiLupus's picture

...and Hitler....and Stalin...the track record continues...

Thu, 08/11/2011 - 11:39 | 1551082 heyligen
heyligen's picture

all Time idols

Thu, 08/11/2011 - 11:44 | 1551099 spiral_eyes
Thu, 08/11/2011 - 13:18 | 1551405 taxpayer102
taxpayer102's picture

TIME's Communist red cover.

Thu, 08/11/2011 - 11:18 | 1550947 Spitzer
Spitzer's picture

I agree.

The Euro has risen since then from 1.26 to 1.42.( Europeans gaining purchasing power that the US is losing)

More countries have since joned the Euro and shown interst in joining it. And now the Swiss want to peg to it.

Thu, 08/11/2011 - 11:23 | 1550991 RedPirate
RedPirate's picture

I agree...Water is up to neck, and now every discrediting possible is on...If we're gonna die (dollar), you're (Euro) going with us!

Thu, 08/11/2011 - 11:35 | 1551040 Spitzer
Spitzer's picture

The dollar will be pegging to the Euro soon enough, for stability.

And it wouldn't surprise me to see China peg to the Euro rather then the dollar. China has a trade deficit with Europe and Europe needs some capital.

Thu, 08/11/2011 - 12:02 | 1551171 ZeroPower
ZeroPower's picture

The most massively traded FX pair, which not only rules correlation across asset classes but also specifies exact price disparties of goods in each respective currency - and youre saying they will be pegged!! Lol, I was really hoping to see a sarc tag on your first line.

Thu, 08/11/2011 - 12:17 | 1551221 Spitzer
Spitzer's picture

I am talking post USD reserve currency.

Thu, 08/11/2011 - 11:33 | 1551035 Ahmeexnal
Ahmeexnal's picture

The only reason the euro might have more appeal than the USD is that you can choose different colors of paper to wipe your ass with.

Green gets monotonous after a while.

 

And now the Swiss want to peg to it.

 

You have to be an idiot if you expect anyone to believe the swiss want to peg to the euro based on the euro's strength.  They circulated the threat of pegging the CHF to the EUR based on the EUR's JUNK STATUS, in order to weaken the CHF.

 

Europeans gaining purchasing power...

 

Ask anyone in europe and they'll tell you the opposite. They all lost purchasing power when going from their local currency to the euro! What the sheeple fail to understand is that the euro is a TAX disguised as a currency!!!!

Any credibility you could possibly have you just threw out the window.

Thu, 08/11/2011 - 11:40 | 1551068 Spitzer
Spitzer's picture

So you actually think the Greek Dracma would be trading at 1.42 to the US dollar today ?

Have you seen the price of oil in Euros lately ? the price of gold ?

You know very little about capital markets.

Thu, 08/11/2011 - 21:30 | 1552838 Ahmeexnal
Ahmeexnal's picture

And you claim to know about capital markets because you pay attention to the PRICE of ITEMX???

Why are you not proclaiming KING POUND STERLING instead? GBPUSD beats the EURUSD on your silly numerical game.

Your knowledge about economics is as highly developed as that of any label whore: You know the PRICE of everything, but the VALUE of nothing.

Thu, 08/11/2011 - 11:49 | 1551116 YHC-FTSE
YHC-FTSE's picture

Spitzer has a point. Over 48.9% of all Swiss exports are in the EU (Compared to 9.4% to the US), and over half of the export partners  are in the EU (Compared to 5.1% in the US). It makes sense to peg the CHF against the Euro to sustain exports. Given a choice of devaluing the CHF, the Euro is a much better bet than the USD. They're both shit fiat, but at least the Euro keeps their main customers happy.

Thu, 08/11/2011 - 11:57 | 1551152 RedPirate
RedPirate's picture

And no QE's there also!

Thu, 08/11/2011 - 12:00 | 1551161 Smiddywesson
Smiddywesson's picture

Ding!!!  We have a winner.  Ahmeexnal says the euro is a tax disguised as a currency.  Very good.

I would add that all currencies are just taxes disguised as currencies.  Even the soon to be issue "gold backed" currencies you get will contain a huge hidden tax to bail out the banks and soverign debt. 

Thu, 08/11/2011 - 12:28 | 1551253 Spitzer
Spitzer's picture

So how is the Euro a tax on a Greek citizen who, on a  purchasing power basis, pays less for gold then an American ?

The federal minimum wage in the USA was €676 per month in January 2007.

minimum nominal wage in Greece was 668 euros in 2007

The Euro was worth between 1.33 and 1.40 to the dollar then.

Hidden tax ? more like hidden gift. Idiot.......

 

Thu, 08/11/2011 - 21:34 | 1552860 Ahmeexnal
Ahmeexnal's picture

um...yeah, right.

the only "hidden gift" the greeks got out of joining the EU (and coming to everyone else in the eurozone) is unpayable debt, serfdom....outright slavery.

 

Thu, 08/11/2011 - 21:53 | 1552918 Spitzer
Spitzer's picture

It was their decision to spend like drunken party sluts. They could have done the opposite. They could have saved, cut regulation and spending and taxes and turn into the next Singapore.

Thu, 08/11/2011 - 22:25 | 1553026 Spitzer
Spitzer's picture

It was their decision to spend like drunken party sluts. They could have done the opposite. They could have saved, cut regulation and spending and taxes and turn into the next Singapore.

Thu, 08/11/2011 - 12:00 | 1551160 ZeroPower
ZeroPower's picture

More countries have since joned the Euro and shown interst in joining it

Lol. Theyre forced to join due to ratifying the EZ laws which stipulate they must, at some point before 2014 (though i believe Poland and Estonia are currently trying to extend out as far as possible) adopt the new currency.

Before 2010, the poorer CEE countries wanted to take advantage of the strong currency jsut as the Greeks did. Greeks were the front runners in this case, and look what happened. But believe you me, ask any Polak or Estonian what they think of the EUR now and the majority say they are unsure and dont want to be tied down at least not in the near future.

Your love for the EUR is stunning.. at least, over the CAD, AUD, CNY. Not denying USDs downfall here.

Thu, 08/11/2011 - 12:26 | 1551248 Ghordius
Ghordius's picture

I love the EUR too. And the CHF even more. But under the shower I sing about... ends with ...old

Thu, 08/11/2011 - 12:30 | 1551261 Spitzer
Spitzer's picture

The CAD is part of the dollar bloc. The Royal bank of Canada is a primary dealer for the Fed. Not denying a USD downfall from here ? Good luck with the CAD.

Thu, 08/11/2011 - 14:20 | 1551554 ZeroPower
ZeroPower's picture

PDs of the fed have little to do with one's currency sustainability. Thank you, i will keep my CAD, as the EUR goes to shit (although in my opinion never does get dissolved just cause the cheerleaders over here in the UK {cheaper GBP} and in EU love it too much) and USD stays reserve currency albeit nowhere near as superior as pre 2000s.

Thu, 08/11/2011 - 16:24 | 1551945 eureka
eureka's picture

You are completely blindly submissive to US hegemony. UK sucks US cock. US is 100% morally bankrupt and it is going down - whereas EU is going up. Fuck Time Ragazine. Fuck CIA and fuck the US criminal elite. Long live the US Republic - if US'ians can ever get their brains and hearts working and kill off its Hegemon masters.

The only chance for the US is social-spiritual revolution into national oneness - meaning dropping Chi-merica and US military empire, in favor of US manufacturing and R&D renainsance and self sufficiency. As it is everyone is the US hates everyone else - and anyone who thinks unlimited provincial self-love is a foundation for a world reserve currency is, perhaps not an idiot, but most certainly an entertainer of idiotic thoughts.

US has tried to destroy EU and the EUR ever since the US slavemasters realized EU and EUR were getting way to strong way too fast for USD/military hegemony to prevail - but alas, the US slavemasters will fail to do anything but destroy their own HomeLand - so die in peace with your USD "world currency reseve" if you wish - along with its insignificant CAD appendix.

Thu, 08/11/2011 - 17:08 | 1552124 Rodent Freikorps
Rodent Freikorps's picture

Americans all have big penises, too.

Life is just unfair sometimes.

Thu, 08/11/2011 - 19:37 | 1552512 eureka
eureka's picture

It would seem logical and obvious that only men with small penises feel a need to dominate other men.

Thu, 08/11/2011 - 11:40 | 1551083 Popo
Popo's picture

LOL.  How much is ADIDAS hating that publicity?!   Heheheheh....

Thu, 08/11/2011 - 12:33 | 1551269 Ghordius
Ghordius's picture

Ask about how much the poor Brits are hating to be in the spotlight with their "yobs" and their activities. Cameron is furious, he had to leave the Toscana for this...

They had since years some alarm bells ringing that they choose to ignore - several countries around the UK were banning British soccer "hooligan" fans from their stadions, complaints, etc. etc. Even the words Yobs and Hoodies - most other EU contries lack even the vocabulary for this phenomenon.

Thu, 08/11/2011 - 17:57 | 1552299 Incubus
Incubus's picture

Better that you're on the mind than naught.  Y'know: no publicity is bad publicity.

Thu, 08/11/2011 - 11:43 | 1551097 heyligen
heyligen's picture

Next Pentagon priority: war on protest.

Thu, 08/11/2011 - 11:51 | 1551127 Freddie
Freddie's picture

Destroyed by open borders letting uncivilized people from uncivilized countries flood in.  All done by the elites/left.

Thu, 08/11/2011 - 11:00 | 1550887 THE DORK OF CORK
THE DORK OF CORK's picture

This is bullish for Europe - I am all in.

Thu, 08/11/2011 - 11:33 | 1551047 monkeyboy
monkeyboy's picture

Definitely bullish for Adidas.

Thu, 08/11/2011 - 11:00 | 1550888 Cognitive Dissonance
Cognitive Dissonance's picture

Ahhh, the good old days.

Thu, 08/11/2011 - 11:00 | 1550889 Manzilla
Manzilla's picture

And of course they found a guy in Adidas sweats.

 

Thu, 08/11/2011 - 11:03 | 1550905 SheepDog-One
SheepDog-One's picture

Better to have been a Lulu Lemon yoga outfit....come on photgraphers of the apocolypse, get your shit together.

Thu, 08/11/2011 - 11:09 | 1550927 Cognitive Dissonance
Cognitive Dissonance's picture

Better to have been a Lulu Lemon yoga outfit....

Close enough for government work.

Lululemon yago pants

Thu, 08/11/2011 - 12:31 | 1551266 williambanzai7
williambanzai7's picture

BURNING ECONOMY

Thu, 08/11/2011 - 11:00 | 1550893 slow_roast
slow_roast's picture

Maybe the looters were just protesting short selling?

 

Thu, 08/11/2011 - 11:01 | 1550897 SheepDog-One
SheepDog-One's picture

'Decline and fall' is rapidly outpacing 'hide it with layers of fiat' now. 

As the once thriving Borders shopping mall across the street is now a ghost town, once frequented by Bed Bath and Beyond and retail book shoppers, now crack dealer and hooker central. 

Paper on, Ben and Timmay.

Thu, 08/11/2011 - 13:04 | 1551359 Freddie
Freddie's picture

Hope and Change = destroying America.

Thu, 08/11/2011 - 11:02 | 1550900 BeerGoggles
BeerGoggles's picture

Easy buy.

Fade zero hedge at the moment as they are releasing bullshit rumours and causing the market fall.

Thu, 08/11/2011 - 11:05 | 1550914 SheepDog-One
SheepDog-One's picture

Do you ever even attempt to make a comment based upon the topic at hand at all or are you drunk or something? What is your comment even supposed to mean?

Thu, 08/11/2011 - 11:20 | 1550964 DonnieD
DonnieD's picture

He's trying to expain that the pandemonium we're seeing has nothing to do with bankrupt governments and banks but rather it is due to a website.

Thu, 08/11/2011 - 11:27 | 1551022 SheepDog-One
SheepDog-One's picture

Right he's got it figured out, Zerohedge caused it.

Thu, 08/11/2011 - 11:33 | 1551045 Doubleguns
Doubleguns's picture

I thought it was Bush.  It works for BO.

Thu, 08/11/2011 - 11:46 | 1551104 Rodent Freikorps
Rodent Freikorps's picture

Well, obviously ZH is just a false flag CIA funded, Tea Party Terrorist group, codenamed DOOM08.

They would have already moved against them except for the bearded Spock, alien enemy disappearance tech.

It is all so obvious.

Aliens want your gold.

Thu, 08/11/2011 - 12:47 | 1551310 Forward History
Forward History's picture

John Travolta is never getting my gold.

Thu, 08/11/2011 - 15:09 | 1551708 Random_Robert
Random_Robert's picture

Boy, those Annunaki sure are a clever bunch...

Thu, 08/11/2011 - 11:03 | 1550906 bigdumbnugly
bigdumbnugly's picture

wasn't that the cover in 1492?

Thu, 08/11/2011 - 11:05 | 1550916 Spastica Rex
Spastica Rex's picture

September, 1789.

Thu, 08/11/2011 - 11:35 | 1551053 Doubleguns
Doubleguns's picture

1917. Seems to keep working.

Thu, 08/11/2011 - 13:01 | 1551351 YHC-FTSE
YHC-FTSE's picture

Time Man of The Year, 1938.

Time Man of The Year, 1942.

Perfect templates to describe America, 2011. 
Thu, 08/11/2011 - 11:04 | 1550907 Marcuz Aurelius
Marcuz Aurelius's picture

Baclava Time !

Time to put up some wagner the ride of the valkyrie.

Thu, 08/11/2011 - 11:10 | 1550929 iota
iota's picture

This is no time for cakes.

Thu, 08/11/2011 - 11:14 | 1550938 SheepDog-One
SheepDog-One's picture

LOL, no time for pastries boys....GET TO DA CHOPPA!

Thu, 08/11/2011 - 21:44 | 1552895 StychoKiller
StychoKiller's picture

I think (s)he meant "balaclava"

Thu, 08/11/2011 - 11:04 | 1550908 longwood
longwood's picture

What about the decline and fall of the American Empire??

Thu, 08/11/2011 - 11:15 | 1550940 The Gooch
The Gooch's picture

see the small print. big print next week.

Thu, 08/11/2011 - 12:54 | 1551333 The Gooch
The Gooch's picture

and see the really fine print. As in the author.

Thu, 08/11/2011 - 11:07 | 1550910 Gmpx
Gmpx's picture

There will be no fall of Europe if EU countires drop the EURO and if they switch to the EEA model (like Switzerland and Norway). Then they will prosper and will co-operate on many issues.

USA will also prosper after some clever guy becomes finally its pesident. Ron Paul sounds clever for example.

Thu, 08/11/2011 - 11:08 | 1550926 SheepDog-One
SheepDog-One's picture

Another one falls into 'the final solution' easily...Ive been warning for many years that the entire plan is based upon collapse and then the only solution being 1 world govt, 1 world currency...of course getting called crazy all along.

Now people say thats no longer the mutterings of a madman, but in fact a real good idea!

BTW the president does not run the country and cause 'prosperity', never did and never will, unless youre in a fascistic dictatorship hellhole, which is what the US is rapidly approaching if not already there.

Thu, 08/11/2011 - 11:18 | 1550955 aheady
aheady's picture

++++++++

Thu, 08/11/2011 - 11:37 | 1551069 Gmpx
Gmpx's picture

Prosperity is a set of mind. If you weigh over 100kg, sit in front of your tv and worry about your future, you cannot prosper. All you need to do is to switch off the fucking tv, read an old European book, walk in the park, eat salad, etc.

My business still accept payments into INTESA. I have no worry about INTESA even if it closes for a couple of days for a bank run and if its boss goes to prison. Everything will be fine. Lira will be restored and Italy will be in EEA drinking wine and driving Ferrari.

Thu, 08/11/2011 - 11:49 | 1551117 Rodent Freikorps
Rodent Freikorps's picture

Don't the Skittles make a fine dessert following the Unicorn steak?

Thu, 08/11/2011 - 12:15 | 1551211 Gmpx
Gmpx's picture

Unicorn steak for me, rodent steak for you...

Thu, 08/11/2011 - 12:50 | 1551319 Rodent Freikorps
Rodent Freikorps's picture

I would never harm a unicorn, the same way I'd never eat a Komodo Dragon, or use real ivory pool balls. Nor would I engage in slavery and then blame the country you shipped those slaves to for slavery.

The only thing the world owes Europe is payback. Very cold payback.

Good to know you are a typical European.

Thu, 08/11/2011 - 12:23 | 1551242 pods
pods's picture

Wow, you really just don't get "it" and I ain't talking about Oprah's secret either.

You know, when jumping out of a window only the stop at the end is bad.  Until then, you can even pretend you are flying.

We are now at a point in world history when the productive class has been fleeced to the point where their labor cannot maintain their standard of living.  It was tried with credit, but that blew up.

People are starting to realize that when you issue credit at interest, only the ones who issue the credit really win out.

Just wait till 2012 in Amerika when "austerity" comes ashore.  Cause it will, and when it does, many will look at the tallest, shiny buildings in every major city (banks, without fail) and realize where the last 30 years of their labor has gone.

When people realize what the system really is, look out.  When people realize that their whole livelihoods have been measured in monopoly money at the point of a gun, they are going to be really pissed.

And when they realize that that 3% interest rate the bank charged was not 3% (a fair or acceptable rate) but an infinite rate as there was no money actually lent but only credit created out of thin air, then you ain't gonna need streetlights as so much will be burning that it will be like daylight outside.

Including those tall shiny banks.

pods

Thu, 08/11/2011 - 12:38 | 1551280 Gmpx
Gmpx's picture

You will learn to prosper with less food. I noticed that when I am on a trip I can eat 3 times less than normal and stay very fit. Actually I feel better when I eat less. When I return home, closer to the kitchen, I start eating more and feel worse.

You can survive without credit - and you will feel better. You simply never tried. It is easy and painless. No credit, less food, more fresh air...

Thu, 08/11/2011 - 12:56 | 1551341 Rodent Freikorps
Rodent Freikorps's picture

As the US fails, Europe, with no military worth mentioning, is gonna look like a bank with no security.

Thu, 08/11/2011 - 13:01 | 1551350 pods
pods's picture

Actually I have ZERO available credit to my name.  Only debt is a mortgage (2.5%).

I figured out a while back that we enslave ourselves with debt.  They are chains we freely place around our necks.

As for eating, I could probably not survive on less food.  At around 3500 calories a day to maintain weight, that would be tough.  I have switched to good food though, and feel great.  Vitamix shakes for breakfast. I "eat" a half pound of baby spinach every morning for breakfast.

I have dropped out of the matrix, and I am loving it.  No cable, no newspapers, shitty little paid off car that gets 38 actual MPG.

I am with you, drop the chains and you will be much happier for it.

pods

Thu, 08/11/2011 - 13:10 | 1551378 Rodent Freikorps
Rodent Freikorps's picture

I bet a government mandated 1800 calories per day will piss you off.

Pasty bureaucrats do not make allowances for heavy training.

Thu, 08/11/2011 - 14:01 | 1551518 pods
pods's picture

Nah, plenty of calories stored.  I remind myself of a line from Platoon.  "Sarge, they got enough rice to feed a whole fuckin regiment."

The cashiers at BJs (Costcolike store) must have thought I own a Chinese restaurant.  Super Lucky Elephant FTW.

I have enough trouble keep the calories out of my garden at night.  Lots of 4 legged calories in my parts. Granted, they only weigh 100 pounds, but there are lots of em. 

pods

Thu, 08/11/2011 - 13:16 | 1551400 Burnbright
Burnbright's picture

Reading comprehension failure. 

Thu, 08/11/2011 - 13:08 | 1551376 Freddie
Freddie's picture

Hope & Change.  Older people and baby boomers are totally screwed. 

Thu, 08/11/2011 - 13:07 | 1551368 DosZap
DosZap's picture

SheepDogOne

"BTW the president does not run the country and cause 'prosperity', never did and never will, unless you're in a fascistic dictatorship hellhole, which is what the US is rapidly approaching if not already there."

SD1, yep your correct, BUT He CAN, and HAS, caused despair,hatred, class warfare, revived racism,tons of job loss(fear of policies put into play),economic / fiscal bankruptcy, with the programs HE puts in place when he controls the Congress, and he did, for 2 full yrs,running up the debt and tearing down the economic machine that gave us a GDP above .5%, and the 1000% speed up of the destruction of this system.

And, yes I know HE is only one Cog in the Grand Design.

 

Thu, 08/11/2011 - 13:29 | 1551441 AnAnonymous
AnAnonymous's picture

There will be no fall of Europe if EU countires drop the EURO and if they switch to the EEA model (like Switzerland and Norway). Then they will prosper and will co-operate on many issues.

Made me laugh. The capacity of US citizens to think their cheap propaganda is impervious to all observations is amazing.

So

-one: UK has a different currency. It is not the Euro.

-two: UK is suddenly considered part of Europe in a US magazine

-three: events happening in UK are extended to Europe and used to announce the fall of Europe.

 

Now, very often, US citizens come with the idea of dumb and dumber. A personal wish because they need a dumber and dumber audience for their cheap propaganda to sell.

The only benefit (if possible) of this kind of articles is to show the US citizens incredible taste for propaganda.

Actually, they are probably the only ones tasting it.

Thu, 08/11/2011 - 11:08 | 1550915 Rossalgondamer
Rossalgondamer's picture

Time's cover = Icon of Brad Pitt

Fictions

 

Thu, 08/11/2011 - 11:36 | 1551063 thunderchief
thunderchief's picture

Just taking the heat off the USA which is the real screwjob.  Are you telling me a bunch of UK teen punks can match the shit we got going on in our streets?  This is fast wall street funky money putting all the blame on Europe again and again.. to cover our breathtaking level of ignorance, stupidity, hubrous, and lack of ideas.

Thu, 08/11/2011 - 11:06 | 1550918 swissaustrian
swissaustrian's picture

Ironicly old european politicians actually do a little less stupid things than the totally clueless US politicians.

But Time would never admit that. Instead it´s distracting the attention away from the US to Europe.

Thu, 08/11/2011 - 11:10 | 1550928 aheady
aheady's picture

ftw

Thu, 08/11/2011 - 11:06 | 1550919 Debtless
Debtless's picture

(And maybe the west) do da, do da...

Thu, 08/11/2011 - 11:07 | 1550921 slaughterer
slaughterer's picture

Is decline wrong?  

Thu, 08/11/2011 - 11:32 | 1551001 hedgeless_horseman
hedgeless_horseman's picture

Sadly, most only ask how can we grow, and never should we grow.

Thu, 08/11/2011 - 11:07 | 1550922 the not so migh...
the not so mighty maximiza's picture

i like it

Thu, 08/11/2011 - 11:08 | 1550923 lieutenantjohnchard
lieutenantjohnchard's picture

interestingly, some will read this article and conclude that one should ...... sell gold, and think themselves wise in the process.

may they have the courage of their convictions, as many of us have had in our convictions to analyze the world, and go long physical in size.

Thu, 08/11/2011 - 11:10 | 1550930 SheepDog-One
SheepDog-One's picture

And many no doubt will sell gold, and do many other stupid self destructive things as they clutch tighter onto denial of whats really going on, and coming to their family real soon.

Thu, 08/11/2011 - 11:12 | 1550931 Buckaroo Banzai
Buckaroo Banzai's picture

Time Magazine: telling America what to think for 88 years.

They got the headline right, too bad it's about 30 years too late.

Irony: In a few years, Germany will be running all of Europe, given that they are the only responsible party left on the continent. Europeans fought two gigantic world wars and sacrificed hundreds of millions of lives, simply to postpone the inevitable.

Thu, 08/11/2011 - 11:17 | 1550951 Spastica Rex
Spastica Rex's picture

+1 depressing.

Thu, 08/11/2011 - 11:49 | 1551118 kito
kito's picture

not for the germans

Thu, 08/11/2011 - 11:30 | 1551036 DaBernank
DaBernank's picture

Germany would also have to pay for Europe and they can't.

Thu, 08/11/2011 - 11:45 | 1551101 unky
unky's picture

doch

Thu, 08/11/2011 - 13:07 | 1551371 kito
kito's picture

 always better to be the creditor than the debtor. the rest of europe has plenty of assets to pony up to germany. 

Thu, 08/11/2011 - 13:20 | 1551412 Burnbright
Burnbright's picture

What are you talking about, Germany will be more than happy to let the rest of Europe to be slaves along with its citizens by being the sole issuer of credit. 

Thu, 08/11/2011 - 11:12 | 1550934 Debtless
Debtless's picture

The ass-sack i'd had custom built and inserted is now completely full of gold Maples.

My doctor has informed me that adding more might result in serious damage to my rectum, and he has recommended I remove my spleen and a kidney to accommodate my latest buying on the dip spree.

I go in on Sat morning.

Thu, 08/11/2011 - 11:13 | 1550936 scratch_and_sniff
scratch_and_sniff's picture

Anyone have a pass for the article?

Thu, 08/11/2011 - 11:15 | 1550941 Portugal
Portugal's picture

yes... Yes... Forget the 393.000 that applied for Jobless Claims. Whats important is the (7.000 ) that didn't apply....!!??!?!?

the markets are recovering! Free unicorn rides, skittles and cotton candy for all!

Thu, 08/11/2011 - 11:55 | 1551146 Incubus
Incubus's picture

Err.. sorry.  Due to budget issues, I'm going to have to replace the unicorns with donkeys.

Thu, 08/11/2011 - 11:17 | 1550953 mtomato2
mtomato2's picture

How do you put a picture in your post?

Thu, 08/11/2011 - 11:25 | 1551005 SheepDog-One
SheepDog-One's picture

Only a few people can.

Thu, 08/11/2011 - 11:28 | 1551016 mtomato2
mtomato2's picture

Who did they have to blow?  Sacrilege or Durden?

Thu, 08/11/2011 - 11:30 | 1551031 SheepDog-One
SheepDog-One's picture

I think CONTRIBUTORS can post pics....RoboTrader used to be able to post pics until he became way too annoying and got his priviledges pulled.

Thu, 08/11/2011 - 11:36 | 1551065 MichaelG
MichaelG's picture

You just have to let Tyler give you a chemical burn.

Thu, 08/11/2011 - 12:17 | 1551222 Incubus
Incubus's picture

so that's what they call it around these parts, huh?

Thu, 08/11/2011 - 12:50 | 1551318 vato poco
vato poco's picture

"chemical burn". I don't care who y'are, that's just plain funny. Comment of the day, right there.

Thu, 08/11/2011 - 11:18 | 1550949 Léonard
Léonard's picture

Most countries in Europe are American colonies since 1945 so I guess the only decline and fall we are witnessing today is the American Empire fall and decline.

Europe will become out of control and soon, very soon, the USA will lost their major colony and Europeans will get the opportunity to free themselves from American domination.

It was about damn time.

Thu, 08/11/2011 - 11:20 | 1550970 Mercury
Mercury's picture

Yeah, they've positioned themselves perfectly. 

Well played Europe

Thu, 08/11/2011 - 12:12 | 1551194 Smiddywesson
Smiddywesson's picture

I see the central banks and governments throughout Europe, and the world, operating in lock step to kick the can and acquire gold.  They don't seem very interested in changing anything at all.

Thu, 08/11/2011 - 12:24 | 1551236 Incubus
Incubus's picture

Honestly, if you were the parasite upper-banking-class, would you be interested in changing anything if you were getting away with taking wealth from generations that are yet to be conceived? 

Everyone has morals, until they're sitting on a pile of gold/cash/wealth.

 

Thu, 08/11/2011 - 12:36 | 1551275 pods
pods's picture

Think you might have that one a bit bass-ackwards.

Start with the year 1815 and research the British stock market and the results of the panic after Waterloo.

Then follow that one forward to present day.  Be sure to remember when you see names like Warburg, N. M. Rothschild, etc.  There is more evidence that WE are a colony of the crown still, and the crown is subject to THEM.

It ALL comes from the City of London.

pods

Thu, 08/11/2011 - 13:23 | 1551420 AnAnonymous
AnAnonymous's picture

The current situation infirms this possibility.

In an extorting the weak, farming the poor scheme, in harsh times, extorted and farmed have to sacrifice more and more to support the extorter and the farmer (who wants to maintain their standards)

Hence the concretization of internal conflicts among the extorted and the farmed as they have less and less resources to support themselves and settle their differences.

Given the extraordinary conflictual dimension of the US society, the fact that this society is preserved from riots stands as a clear evidence that it is the center of the US world order and still flooded with enough wealth from the periphery to appease internal conflicts through bribery of the population.

If London was the root of all, riots would be common accross the US  right now.

This is a US world order and the world is organized to provide for the needs of US citizens.  

Thu, 08/11/2011 - 14:23 | 1551564 pods
pods's picture

Oh sure we are not on the bottom of the food chain and operate the worlds reserve army.

The "citizens" of amerika are beholden to government debts through the 14th amendment.  The citizens of the trust use Federal Reserve notes as currency.  That currency is a private currency, originating at the Federal Reserve.  The Federal Reserve is owned by the member banks, but is controlled by the NY FED.

This elaborate system has been explained in detail in numerous books.  Every one of those books leads back to European banks, and more pointedly, to the Bank of England.

I said it leads back to The City of London, not the city of London.

http://en.wikipedia.org/wiki/City_of_London

Keep your eye on the ball and not the 800 pound gorilla breaking shit all over the world.

http://en.wikipedia.org/wiki/N_M_Rothschild_%26_Sons

The fact that there have not been large scale riots in the US is that austerity has not come ashore, yet.

pods

Thu, 08/11/2011 - 15:37 | 1551768 AnAnonymous
AnAnonymous's picture

The world is organized to serve the US interests (US world order) The US operates the US army, an army designed to further and protect US best interests.

Principles are only good if they are true. Books, nice, but being written in a book or somewhere else is no match for happening in reality.

The current situation confirms that the US is the center where wealth is relocated in order to appease centerizens.

Commenting on City of London is like claiming that an untouched Manhattan would be a proof if the US was facing riots at the present moment.

If indeed City of London was the center, riots would have happened in the US first and not in UK.

Wealth is drained from the periphery to feed the center, and some people resent it.

Thu, 08/11/2011 - 17:18 | 1552158 pods
pods's picture

Actually if you had done any research, those BOOKS are about what did happen in reality.

I am not saying the US is not an empire.  It is.  And I hate it.

The world is organized to serve organized power.  It knows no nationalism.  

Your logic about the riots is too convoluted to even try to argue against, but I will try.  I comment on the City of London, a unique entity in Britain, and even Greater London, and you go back to the "riots" which are really nothing more than the bored welfare chavs blowing off steam.  We had the Rodney King riots here, and Chicago,etc.  It is a non sequitur.  There is no connection to the US being the power center due to London riots.  If there are riots in the US, and then afterwords there are riots in Canada, would Canada be the head of the snake?  No.   

If the US was the "center" of it all, then why the hell did QE2 transfer like 600 billion to European banks?  Was the empire in a good mood?

It is not about national interests, it is about power, and that power stems from the City of London.  The old world financial center.

pods

Fri, 08/12/2011 - 04:59 | 1553546 falak pema
falak pema's picture

Right. Power is a multiple headed hydra, and its transnational.

Thu, 08/11/2011 - 11:17 | 1550950 apberusdisvet
apberusdisvet's picture

The art of deflection by the MSM; isn't it wonderful?  Why don't they expose our TBTF derivative positions and the true value of those trillions in toxic assets?  NAH.  Never happen.

Thu, 08/11/2011 - 11:20 | 1550966 aheady
aheady's picture

Yep. Dream on.

 

Thu, 08/11/2011 - 12:08 | 1551186 Greater Fool
Greater Fool's picture

First off, nobody knows the true value of those "toxic assets." If they did, then people wouldn't call them toxic.

Second, Time reporters were by and large educated in the US. This means that for the most part they understand financial derivatives about as well as they do the kind they didn't learn about when they weren't taking a calculus class.

Thu, 08/11/2011 - 11:18 | 1550957 yabs
yabs's picture

not so sure abou their calls

wasn't time that labelled the Bernank as MAN of the year rather than C*NT of the year

Thu, 08/11/2011 - 11:19 | 1550960 Cow
Cow's picture

Seriously, who reads Time or Newsweek?

Has anyone here bought such a magazine in years?

Thu, 08/11/2011 - 11:21 | 1550971 SheepDog-One
SheepDog-One's picture

I think only public libraries have subscriptions.

Thu, 08/11/2011 - 11:55 | 1551145 Rodent Freikorps
Rodent Freikorps's picture

Time has a pretty good track record of identifying the world's biggest bastard.

Thu, 08/11/2011 - 11:20 | 1550963 latentdissident
latentdissident's picture

Wait until you have people looting in NYC. With the higher income disparity in the US not entirely unlikely, don't you think?

Talking about old titel pages, see this one from last November, for the non-German speakers, the translation means something like it says the "Despaired States of America".

http://www.zeitschriften-cover.de/cover/der-spiegel-cover-november-2010-x3361.jpg

Thu, 08/11/2011 - 11:23 | 1550988 SheepDog-One
SheepDog-One's picture

Just wait until peoples welfare and food stamps and social security and all the rest of it gets cut in half or more real soon, 'austerity' is coming to america far sooner than most think, Obama under the radar is ramming thru his 'Austerity Bill' as we speak and its going to cut real deep.

Thu, 08/11/2011 - 11:34 | 1551052 Ricky Bobby
Ricky Bobby's picture

My bet is on Chcago or LA.

Thu, 08/11/2011 - 12:58 | 1551343 vato poco
vato poco's picture

Ever notice when folks talk about the 'next riots', they always say NYC/Newark, Chicago, & LA? With maybe a Detroit or a Philly thrown in on occasion? Yet there'a a state that has not one but *3* massive metroplexes, each with a significant, ostensibly-ready-to-riot underclass, that nobody thinks will *EVER* burn. Texas: Houston, DFW, and San Antonio. The 4th, 6th, and 9th largest cities in the country. Yet no riot talk.

Anyone ever wonder why that might be?

Thu, 08/11/2011 - 13:03 | 1551355 Rodent Freikorps
Rodent Freikorps's picture

If they riot, we just shoot the fuckers.

Thu, 08/11/2011 - 13:02 | 1551353 Rodent Freikorps
Rodent Freikorps's picture

Detroit and Philadelphia has a head start.

What do these cities have in common? There must be something.

Thu, 08/11/2011 - 11:20 | 1550965 Archimedes
Archimedes's picture

In other news " Russian Billionaire and NJ Nets owner Mikhail Prokhorov Is running For Prime Minister and wants Russia to join the EU.

Expect to find him mysteriously "dissapear" in the next three days!

 

 

Thu, 08/11/2011 - 11:21 | 1550975 Marcuz Aurelius
Marcuz Aurelius's picture

I heard the missus has opened her blog again ... for inquisitive purposes.

http://blythemasters.blogspot.com/

Hello !

Thu, 08/11/2011 - 12:15 | 1551208 Smiddywesson
Smiddywesson's picture

That was a very entertaining site.  The comments were very animated.

Thu, 08/11/2011 - 11:22 | 1550979 Manthong
Manthong's picture

The kids will adapt.. after all we've pretty well bred the old stuff out of them, like tradition, principles, family values and all of that crap.

As long as they've got their smart phone and a supply of sex friends to hook up with, they will be OK.

A little real violence here and there will fill in the emptiness left from playing the latest version of Mortal Kombat and not having their clothes soaked with real blood.

Thu, 08/11/2011 - 11:24 | 1550997 SheepDog-One
SheepDog-One's picture

Just like the little feral kid in Road Warrior...he had a shiny metal boomerang and had lots of fun in his tunnels.

Thu, 08/11/2011 - 11:26 | 1551008 Marcuz Aurelius
Marcuz Aurelius's picture

Awesome movie ! I'm ultra bullish on that sand they had in that truck.

Thu, 08/11/2011 - 12:16 | 1551217 Smiddywesson
Smiddywesson's picture

Hockey masks and assless chaps for everyone.

Thu, 08/11/2011 - 11:22 | 1550983 chunkylover42
chunkylover42's picture

wait - the terms "decline" and "fall" aren't really that different and are generally used interchangably.  typically a heading like this is "rise and fall" or some equivalent.  saying both decline and fall is just redundant.

Time stopped using copy editors over there? 

Thu, 08/11/2011 - 11:33 | 1551038 Rodent Freikorps
Rodent Freikorps's picture

There is a famous book named The Decline and Fall of the Roman Empire.

I guess you missed that class.

http://www.amazon.com/Decline-Fall-Roman-Empire-Everymans/dp/0679423087

 

Thu, 08/11/2011 - 12:54 | 1551335 Forward History
Forward History's picture

Actually they are that different. Empires sometimes enter a declining state for dozens, if not hundreds of years before truly falling. The only time you get a sudden collapse is usually due to military action: see the Carthaginians, Third Reich, Persian empire for example, and even then someone could argue other factors were in play.

Thu, 08/11/2011 - 11:24 | 1550995 digalert
digalert's picture

How about this one:

"The Obama decline and Fall of Amerika"

Thu, 08/11/2011 - 11:26 | 1551010 Rodent Freikorps
Rodent Freikorps's picture

Go long hoodie and glass manufacturers.

Or not. These thugs are too f'king stupid to even bring basic tools, like crowbars, hammers, and screwdrivers to an old fashioned looting. Europe: importing idiots since its beginning.

Those are the future workforce for the vaunted EU.

Good luck with that.

Thu, 08/11/2011 - 13:36 | 1551462 Narcolepzzzzzz
Narcolepzzzzzz's picture

Definitely not the sharpest tools in the box:
http://imgur.com/KVvgW

Thu, 08/11/2011 - 11:28 | 1551025 Slap That Taco
Slap That Taco's picture

Guys,

  I know this is VERY simplistic, but based on the classic 50/200 EMA cross technique, we still resemble last Summer more than the top and crash of late 2007.

  We have yet to make this cross, but as it seems inevitable that we will, a few observations:

1)Last Summer the cross took place after a quick plunge, towards the bottom-and only for a day or two (I'm talking the EMA, not SMA, which lasted longer and screwed more shorts.)

2)In both 2001 and 2007 the cross took place near the tops, which were also incidentally new S&P tops.

  I guess what I'm saying is that I'd much rather go short after the markets makes new highs-duh, but this technique has worked so well in the good old days.

 

 There are so many ways to get screwed, and a lot of the old indicators don't apply anymore. Any macro thoughts appreciated.  Thanks, have a good one.

Thu, 08/11/2011 - 11:30 | 1551034 fonestar
fonestar's picture

Each moment
Each road
Every wall
All prisons
Every bank
Shall cease to exist

One by one
The waves crash
Onto the rock
And the rock will fall
The rock will fall

                         ~Flipper (ca. 1982)

 

Thu, 08/11/2011 - 11:34 | 1551050 DaBernank
DaBernank's picture

Long Molotov cocktails, IOW petrol.

Thu, 08/11/2011 - 11:37 | 1551067 Mediocritas
Mediocritas's picture

It's pretty easy to bash Europe, but where's the Time Magazine cover showing a picture of Blankfein walking across the street entitled "The Decline and Fall of America"?

Maybe they didn't run it because Banzai Magazine had already covered it.

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