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You Call This A "Union"?

Tyler Durden's picture





 

As Michael Cembalest of JPMorgan notes, Spanish unemployment is 24% despite the highest levels of labor shortages in Germany in 25 years - what kind of monetary union is this?

 


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Tue, 06/19/2012 - 11:40 | Link to Comment disabledvet
disabledvet's picture

"Sorry Spain but you gotta go. Your mean."

Tue, 06/19/2012 - 11:59 | Link to Comment Rich Bagg
Rich Bagg's picture

Would you rather live in Germany or Spain?  Would you rather bang a hot Spanish babe or some fat pale white chunk with Cankles?

Germany sucks.  That's why there is nothing to do but work and get drunk.

 

 

Tue, 06/19/2012 - 12:02 | Link to Comment NotApplicable
NotApplicable's picture

Wait, you mean to say there's more to life than that?

Tue, 06/19/2012 - 13:10 | Link to Comment Carl Spackler
Carl Spackler's picture

Did some say the Spanish Inquisition ?

Well then put the German in the comfy chair!

Tue, 06/19/2012 - 13:36 | Link to Comment Ghordius
Ghordius's picture

Sure. JPMorgan is doing everything it can to calm the waves and let Hispanic-German joint ventures come back online, eh? /SARC

Come on, they are up to their eyeballs into EUR, gold, silver etc. shorts and they want to find new muppets. Do them a favor and buy some.

Tue, 06/19/2012 - 13:39 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Buy €, Crash JP Morgan!

You heard it from me first folks.

Tue, 06/19/2012 - 12:02 | Link to Comment Rubicon
Rubicon's picture

Id rather shag a Kraut than some sweaty, hairy spaniard!

Tue, 06/19/2012 - 12:06 | Link to Comment Rich Bagg
Rich Bagg's picture

Not me Man.  Kraut's don't like sex and their farts stink real bad.  German farts under the covers can be lethal.

 

 

Tue, 06/19/2012 - 12:14 | Link to Comment Rubicon
Rubicon's picture

Its all the cabbage they eat.

Tue, 06/19/2012 - 12:14 | Link to Comment falak pema
falak pema's picture

saurkrauts and rich farts in the bag, you are very refreshing guys to talk turkey to, about which goose to gander! 

Tue, 06/19/2012 - 15:57 | Link to Comment Thomas.2012
Thomas.2012's picture

Well Richy, it seems you got what you deserved - an old ugly farting german ;-)

Tue, 06/19/2012 - 12:16 | Link to Comment Tinky
Tinky's picture

We are diametrically opposed.

Tue, 06/19/2012 - 12:12 | Link to Comment malikai
malikai's picture

So wrong, on so many levels. Obviously Mr Bagg has never been to either Germany OR Spain.

Tue, 06/19/2012 - 12:28 | Link to Comment Nussi34
Nussi34's picture

Spanish women are fat and short.

Tue, 06/19/2012 - 12:59 | Link to Comment pods
pods's picture

Well, except for the tall skinny ones.

Tue, 06/19/2012 - 13:17 | Link to Comment Debugas
Debugas's picture

problem with germany is they are nationalists - they want you to speak german and they pay you twice as little as they pay germans for the same type of job

Tue, 06/19/2012 - 12:01 | Link to Comment Rubicon
Rubicon's picture

None of the vacancies are for waiters.

Tue, 06/19/2012 - 13:15 | Link to Comment Carl Spackler
Carl Spackler's picture

The assumption underlaying Tyler Durden's point here is that Spaniards even WANT to work rather than siesta.

 

 

Tue, 06/19/2012 - 12:10 | Link to Comment slaughterer
slaughterer's picture

I am sorry, but it is time for Tyler to say something about GOLD and SILVER calling the QE3 story BULLSHIT today.  

Tue, 06/19/2012 - 12:47 | Link to Comment Rip van Wrinkle
Rip van Wrinkle's picture

It's Bernanke time!! $50 off gold in a twinkle of an eye. About 7.14 and 50 seconds tomorrow evening EST.

Tue, 06/19/2012 - 16:56 | Link to Comment Gief Gold Plox
Gief Gold Plox's picture

Alarm clock set. Thank YOU SIR!

Tue, 06/19/2012 - 11:42 | Link to Comment slaughterer
slaughterer's picture

Spanish soccer players are just too expensive for the Bundeslig.  

Tue, 06/19/2012 - 11:48 | Link to Comment Wolferl
Wolferl's picture

Not anymore. The debt laden spanish clubs will collapse soon.

Tue, 06/19/2012 - 12:04 | Link to Comment falak pema
falak pema's picture

Spanish plumbers now invading france even to fix my private plumbing which rattles me to my brass bells. I feel like that cow called Marguerite, childhood memory. Will the spanish armada now be pushed to unemployment like the tercios of old? 

I can hear the french soccer players singing Marignan, Rivoli; as they hope to face Italy in quarters. Denouement this evening. Swedes have Goliath, called Abraham-vichy-goat; hope he will get properly sacrificed, kosher style, to honour his forbears. 

Tue, 06/19/2012 - 12:30 | Link to Comment Nussi34
Nussi34's picture

The Bundesbank will get the soccer players, since they were pledged as colateral!

FC BUNDESBANK

 

Tue, 06/19/2012 - 11:43 | Link to Comment francis_sawyer
francis_sawyer's picture

In the US, these problems are easily 'fixed' by accounting gimmicks...

Tue, 06/19/2012 - 11:42 | Link to Comment Parth
Parth's picture

But those are jobs for illegal aliens from Turkey. Greeks and Spaniards want a good job with benefits and vacations. They deserve better.

Tue, 06/19/2012 - 12:00 | Link to Comment Mercury
Mercury's picture

Because they have nice tans?

Tue, 06/19/2012 - 12:25 | Link to Comment Parth
Parth's picture

Because they are white, Christian and European.....they are entitled. Its so sad that this European group that has ruled the world for the last 600 years still does not realize that Asia is the jobs engine, and the menial jobs in Germany USA belongs to immigrants. I saw an article about a Greek IT engineer working as a tour guide in Athens and hoping to migrate to Australia. Doesn't the fool understand he would get an IT job in INdia way faster, but no he can't move to India as it is different. Its the mentality that the Anglo-European world will need to change or perish like sub-saharan Africa. THere is limited jobs and resources and its only gonna get worse. Asia is the next meal ticket.

Tue, 06/19/2012 - 14:14 | Link to Comment smb12321
smb12321's picture

Except for the past 200 years, Asia has ALWAYS been the next meal ticket.  In terms of population, invention, dynamism, longetivty and power, the last 200 years are simply a footnote. Mind you, it's a huge footnote since the world now uses - whether it likes it or not - economies, governments and social structures originating in Europe (media, public education, hospitals, modern technology, etc).    

When will folks learn?  You can't stay on top if your population (and economy) is on a 20 years decline and your reaction is to denude your nation/continent of any defense?  In its history, China has never carried through on her external power despite overwhelming odds.  She always seems to eventually withdraw.

Tue, 06/19/2012 - 17:59 | Link to Comment Lednbrass
Lednbrass's picture

Thats one possiblity.

The other is that the West fires up the engines and does what they have been the best at for the last two millenia- full blown war.  Not the bs "win hearts and minds" nonsense of recent years but the old style "kill you and flat out take your shit" kind.

Tue, 06/19/2012 - 12:27 | Link to Comment Parth
Parth's picture

They also ought to try learning Mandarin. Its like Greek to me anyways.

Tue, 06/19/2012 - 11:43 | Link to Comment LawsofPhysics
LawsofPhysics's picture

With friends like this, you certainly don't need any enemies.

Tue, 06/19/2012 - 11:44 | Link to Comment Ahmeexnal
Ahmeexnal's picture

Japan formally dissolves as a nation: Russia and China are being begged to shelter 40 million japanese nuclear refugees.

http://www.eutimes.net/2012/04/russia-stunned-after-japanese-plan-to-eva...

 

 

A new report circulating in the Kremlin today prepared by the Foreign Ministry on the planned re-opening of talks with Japan over the disputed Kuril Islands during the next fortnight states that Russian diplomats were “stunned” after being told by their Japanese counterparts that upwards of 40 million of their peoples were in “extreme danger” of life threatening radiation poisoning and could very well likely be faced with forced evacuations away from their countries eastern most located cities… including the world’s largest one, Tokyo.

Tue, 06/19/2012 - 11:46 | Link to Comment tmosley
tmosley's picture

EU Times is 100% lies.  How quickly we forget past track records in our rush to confirm our own biases.

Tue, 06/19/2012 - 11:50 | Link to Comment Non Passaran
Non Passaran's picture

Look who's here - the American Ahmedinajad is rooting for war again!

Moments of peace are causing him pain.

Tue, 06/19/2012 - 14:16 | Link to Comment smb12321
smb12321's picture

LOL!   It's surprising the number of posters who have wet dreams over collapse, war, destruction and day-to-day survival like cave men. 

Tue, 06/19/2012 - 11:56 | Link to Comment falak pema
falak pema's picture

stale recycled junk and fear mongering. Watch out for bearded clowns and their monkey shows. 

Tue, 06/19/2012 - 11:58 | Link to Comment i-dog
i-dog's picture

That "report" is nearly 3 months old. Has anything relevant happened since?

Tue, 06/19/2012 - 12:12 | Link to Comment Ahmeexnal
Ahmeexnal's picture

You mean that chernobabies being born in japan are not "relevant"?

http://www.japanprobe.com/2012/03/08/are-japanese-doctors-murdering-defo...

And maybe you missed it, but japan is now trading with china without USD.  Expect such an agreement with Rossiya in the very near future.

Tue, 06/19/2012 - 12:21 | Link to Comment i-dog
i-dog's picture

*sigh* ... another blog "report" from 3 months ago  -- posed as a question (one of the oldest tricks in the misinformation handbook): "Are doctors killing deformed babies?"

You can do better than that....

 

[edit] Your added second paragraph appeared after I'd typed my reply ... and is totally unrelated to the topic you raised.

Tue, 06/19/2012 - 12:23 | Link to Comment Ahmeexnal
Ahmeexnal's picture

I assume you are content with TEPCO's official line that Fukushima has been fixed and radiation is actually good for you.

You must also believe that the global economy is in recovery. Green shoots?

 

Tue, 06/19/2012 - 12:39 | Link to Comment i-dog
i-dog's picture

Stop building straw men ... it doesn't help your credibility at all. Get back to your original statement and my original question: "Has anything relevant (to the move) happened since?"

Tue, 06/19/2012 - 11:44 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

"You Call This A "Union"?"

Maybe it's a circle jerk?

Tue, 06/19/2012 - 11:50 | Link to Comment Uncle Remus
Uncle Remus's picture

Full metal circle jerk.

Tue, 06/19/2012 - 11:57 | Link to Comment WhyDoesItHurtWh...
WhyDoesItHurtWhen iPee's picture

Dodecatuple Euro Rudder.

Tue, 06/19/2012 - 11:51 | Link to Comment Non Passaran
Non Passaran's picture

The Union Jerk

Tue, 06/19/2012 - 11:44 | Link to Comment tmosley
tmosley's picture

Spanish aren't willing to relocated, I suppose.  That or there are signs all over Germany saying "Die Spanier müssen nicht gelten".

Tue, 06/19/2012 - 11:46 | Link to Comment LukeWorm
LukeWorm's picture

What are the unemployment percentages in the different US states ? 

 

 

Tue, 06/19/2012 - 11:47 | Link to Comment elwu
elwu's picture

What?!? Which part of "montetary union" is it that you don't understand?

And please don't forget that also in the USA there are regions with very high unemploymentand regions with very low unemployment. What kind of monetary union is this?

Ah, and FYI, there are more and more well educated Spaniards, Greeks, Portuguese leaving home and going to Germany, since there are jobs for them. Now, of course, Germany is accused of brain draining their home countries *g*

This Germany bashing is getting more and more ridiculous. Next thing they will be accused of is that the US job market is not recovering because Germany refuses to foot the GIPSIFs party bills forever... Wait! This accusation is already uttered, by no less than Mr. Obama himself.

Tue, 06/19/2012 - 11:54 | Link to Comment Non Passaran
Non Passaran's picture

> Now, of course, Germany is accused of brain draining their home countries *g*

I hope they can brain-drain the ruling elites from PIIGS.
But they won't because those thugs aren't useful for anything but organized crime and favor trading.
Another reason to legally limit how long one can work for the government and anything government-related.

Tue, 06/19/2012 - 11:55 | Link to Comment potlatch
potlatch's picture

If all this is "in our heads," then how come, starting late last year, the landscapers that work in my admittedly rather upscale neighborhood, all of a sudden were almost all speaking German

 

They did an incredible job, btw.,

 

However:

Sounds to me like Germany is making a serious play on the US' core economy, so I am not sure all of this is just hand-wringing.

Tue, 06/19/2012 - 11:48 | Link to Comment suls
suls's picture

Anyone long German language schools in Spain?

Tue, 06/19/2012 - 12:49 | Link to Comment Confused
Confused's picture

I'll be long Duetsch Sprachschule, as soon as someone shows me that there are Spaniards that have the skills needed to fill jobs in Germany.

Tue, 06/19/2012 - 14:20 | Link to Comment smb12321
smb12321's picture

Actually, Germany is in pitiful shape in the medium and long run.   She is losing population faster than any other nation (even with an extra 150,000 immigrants annually) and the cost changes she made in the 90's have nearly run their course.  You can't run a social welfare state with a shrinking population since the essence of this Ponzi scheme is to continually penalize new workers and the unborn with taxes for the present. 

Tue, 06/19/2012 - 14:51 | Link to Comment Don Diego
Don Diego's picture

plenty of doctors, nurses and engineers with the right skills. The problem is the language and that life is nicer in Spain with 400 euros gotten from part-time jobs while living with mom than 3000 euros in Germany.

Tue, 06/19/2012 - 11:49 | Link to Comment Dr. Engali
Dr. Engali's picture

It's all good ...Ben is about to ctl-p. That should take care of any of those pesky needs... like jobs.

Tue, 06/19/2012 - 11:56 | Link to Comment Deep79
Deep79's picture

Wont be any QE tom.

At best is an extension of Twist.

 

 

Tue, 06/19/2012 - 12:27 | Link to Comment Dr. Engali
Dr. Engali's picture

There won't be tomorrow but there will be in August.

Tue, 06/19/2012 - 19:52 | Link to Comment mkkby
mkkby's picture

Wrong.  Not until after the election unless another major bank blows up.

Tue, 06/19/2012 - 11:56 | Link to Comment potlatch
potlatch's picture

when is my printing, btw?  I'm waiting on my turn.  When do I get my free money to shore up my solvency?

Tue, 06/19/2012 - 19:54 | Link to Comment mkkby
mkkby's picture

You got it already.  It's called welfare, unemployment, medicare and SS.  Printed every month as tax coverage doesn't come close.

Tue, 06/19/2012 - 11:59 | Link to Comment Falcon15
Falcon15's picture
The Federal Reserve on Wednesday approved plans by three state-backed Chinese banks to expand in the U.S., including the first acquisition of a U.S. retail-banking... YMMV
Tue, 06/19/2012 - 15:08 | Link to Comment Tirpitz
Tirpitz's picture

Reminds me of our Chinese friends gobbling up some sizable share of some Wall Street casino shop right before it went belly up. Was it Lehman Bros. or Bear Stearns where they sank a billion or two?

Time to heed for the hills when our yellow friends unpack their green bills.

Tue, 06/19/2012 - 11:55 | Link to Comment midgetrannyporn
midgetrannyporn's picture

Not wanting to work for printing press wages is called a labor shortage. Working for chump wages while the kleptocrats steal trillions is not appealing to anyone with a brain.

Tue, 06/19/2012 - 11:56 | Link to Comment Bastiat009
Bastiat009's picture

Sharing a currency doesn't make you speak the same language and forget about 2000 years of history.

I guess History is not something they care about when they sell you an MBA but that can explain a lot of the problems.

Tue, 06/19/2012 - 11:57 | Link to Comment Falcon15
Falcon15's picture

It is a flipping monetary union, where many contries share the same currency. It is not, as Mr. Farage quickly and eloquently points out, repeatedly I may add, a political union. While there are some politics involved with sharing a currency, each nation (ostensibly) retains it's sovreignity. At least for now. If, and I mean if Germany wants to increase it's workforce, they must increase the number of persons allowed to emigrate to their country for work. However, that brings problems of it's own...

Again, it is a monetary not a political union. Each nation retains it's own laws, government (ostensibly), and operates it's own economy within the contraints of the monetary union. This is by and far the stupidest comparison I have ever read. There is nothing common about common sense.

Tue, 06/19/2012 - 12:01 | Link to Comment penexpers
penexpers's picture

Sorry, buddy, you allow a group of technocratic elitist bankers to control the issuance of currency and credit and you're a god damn slave bounded politically and monetarily.

Tue, 06/19/2012 - 12:03 | Link to Comment Falcon15
Falcon15's picture

What?!? Which part of "montetary union" is it that you don't understand?

Tue, 06/19/2012 - 11:58 | Link to Comment DoctorSahn
DoctorSahn's picture

I'm sure they would hire Spanish workers, but benefit packages in Germany rarely include siestas

Tue, 06/19/2012 - 12:01 | Link to Comment trilliontroll
trilliontroll's picture

I pledge allegiance to the flag of the European Union, and to the chaos for which it stands, 27 nations without God, divided, with debt slavery and justice for few.

Tue, 06/19/2012 - 12:11 | Link to Comment falak pema
falak pema's picture

its called union-libre, like hippie love. Nation states like local cooking and other people's money. Euro-union is there to share what is considered unnecessary in a hippie community, like money, banks and tanks. You're a true hippie or you're not! 

Tue, 06/19/2012 - 12:06 | Link to Comment icanhasbailout
icanhasbailout's picture

Monetary union requires political union for long term stability, and the history of attempts to politically unite Europe is... poor.

Tue, 06/19/2012 - 12:37 | Link to Comment Linus2011
Linus2011's picture

Dumme Kommentare, dumme Amerikaner!

Tue, 06/19/2012 - 12:44 | Link to Comment magpie
magpie's picture

Just imagine Schaeuble saying "Ich bin ein Athener". That should brighten your day...

Tue, 06/19/2012 - 15:01 | Link to Comment Tirpitz
Tirpitz's picture

... or Kemal Ötzimir, for that matter. But the latter guest doesn't play on the national stage, yet.

Tue, 06/19/2012 - 13:22 | Link to Comment LFMayor
LFMayor's picture

Maybe the Germans have a REAL fence on the Ruhr, one that does what it's supposed to and keeps the beaners out.

Tue, 06/19/2012 - 13:33 | Link to Comment MFL8240
MFL8240's picture

 

"....what kind of monetary union is this?" 

 

It is simple, Weimar II on a global scale. 

 

Tue, 06/19/2012 - 13:38 | Link to Comment kevinearick
kevinearick's picture

Neurosisberg

Funny, not, how they paraded the downstream executives through Nierenberg, much the way they parade CEOs through Congress today, but never examined the research project, the human scientific process. The Jews were lab rats, and they were sold out by their own, to computerize the consumption addiction process.

Corporate captured everything it needed at the beginning of the process, inuring children to the Reich, with water colors. Like all good scientists, they simply ran the experiment to its conclusion to capture as much data as possible, and maximize misdirection.

The education system you see today, beginning at early childhood, to replace parents with government, is hard power attenuated to soft power, over time, in a relativity circuit. Put currency in front of kids that have spent any significant time in the system. Count how many volunteer to work productively in exchange. What if you put down a dollar, an orange, and a spatula? What is the Euro?

The addicts storm the wall in protest, the king has his servants throw just enough heroin over the edge to disperse enough of the crowd to regain police control, and the process repeats, until the wall is complete, intelligence is winnowed out, and the remaining population is stupid enough to assemble at the wall in worship. Take a look at Moses and gold.

You gotta be smarter than the money changers, which is now a computer algorithm, stupid controlling stupid. Don’t participate and the empire starves for lack of sacrificial lambs. You always have a choice, between the known and the unknown. Raising children accordingly is much more productive than attempting to rehabilitate robots that desperately want to be robots.

F-ing robots, f-ing robots in a circle, replicating robots at the discretion of a computer ponzi, until the black hole pulls them in, swapping the drug and the users, in a round robin game of SIMON SAYS. Make the system work for you instead of against you, by adjusting your virtual distance. Let the DNA churn pool do its job.

Germany, like all the other lab rats, can’t do a thing about it, but talk, until the noose of its own design, Euro debt, strangles it as well. Take a look at the participating corporations to WWII, then and now, and tell me what a great guy Soros is. Do you really think Germany can survive without its import/export co-dependents?

By all means, go to Goldman Sachs and sell your family wealth for pennies on the dollar. That’s how the ponzi completes the circle for another round. Soros simply bets on the addicts to be addicts, and plows the money back into the propaganda machine, another f-ing robot rewarded with accounting income for the purpose. Superstitious idiots reading empire signs and assuming they are God.

Liberty is not a right. It’s earned, every damn day. Whether you pursue it, or any of the empire’s offerings, is up to you and you alone, which is why so few escape prisoners dilemma. The firefighters block the forest; nature burns them down.

Tue, 06/19/2012 - 14:08 | Link to Comment Sudden Debt
Sudden Debt's picture

Enslave the greeks and spanish and ship them over to the salt mines of germany!!

Hitler would be so proud!!

Tue, 06/19/2012 - 14:57 | Link to Comment Tirpitz
Tirpitz's picture

"despite the highest levels of labor shortages in Germany in 25 years"

Where's there any labor shortages in Germany, please?! While inflation-adjusted wages keep falling further, the workforce must be still too large.

Or will the laws of supply and demand just simply not apply in a job market?

Tue, 06/19/2012 - 16:33 | Link to Comment malek
malek's picture

Ahem - German firms will report labor shortages even in the midst of an (officially recognized) Greater Depression.

That statistic is completely useless.

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