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| Here It Comes In Europe (Threats) in forum [Market-Ticker]
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Patentleathershoes
Posts: 9996
Incept: 2007-09-13
On the Daisy Chain
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This is juvenile comment: Quote:Mr. Balls . Unfortunate last name.
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"An unborn child's property rights are protected by law. His right to life is not." Ronald Reagan
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Tickergroupie
Posts: 429
Incept: 2010-03-24
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Preidt2
Posts: 552
Incept: 2009-07-31
spokane/wash
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liberial sickness is stupidiness
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Puppets Under Destruction
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Themortgagedude
Posts: 8853
Incept: 2007-12-17
saint louis
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You can make the argument that the banker is owed the money and government should make those payments. That the voters got what they had coming when they didn't insist upon sound fiscal policy from the elected officials. But then again you make a very good point that the banker more than anyone else should know there are no unicorns. I think the money shot of this whole fiscal crisis comes from you with Quote:Everyone must face the fact that you cannot spend more than you tax as a government over any material amount of time. Until we are willing to accept the fundamental math we're just*****ing into the wind.
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I'm already visualizing you with duct tape over your mouth.
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Steelhead23
Posts: 2042
Incept: 2008-09-09
Portland OR
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Quote:This lunacy must stop. Which lunacy is that? The lunacy that had German banks buying (or is it speculating) Greek debt, hoping the ECB would print them out of trouble if necessary, or the lunacy of Greece, spending money it doesn't have and could never pay back, or the lunacy of those from the alternative universe that think Greece can pay them back, or is it the lunacy of Brits thinking they can tell Germany to further enable Greek deficit spending? The lunacy here is so thick, it is a tad hard to tell the lunatics from the merely foolish. I happen to agree with the PM - it is past time for Greece to leave the union, repudiate its debts, issue its own currency and devalue everything in order to survive. The other day, I saw a bit that even tourism is down, folks just don't want to pay high Greek prices. You all know the answer don't you... if Greece wants tourists (and it desperately does) it is going to have to devalue everything, even labor. They'll figure it our, or starve.
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"Give me control of a nation's money and I care not who makes it's laws" —Mayer Amschel Bauer Rothschild Benjamin Bernanke
For-profit commercial banks are a menace and should be eradicated
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Wineaux
Posts: 533
Incept: 2009-03-23
pure Liquid pleasure
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I’ll play devil’s advocate….
Where’s the debt crisis? The 10 year German bund is at 1.45%. The Germans can borrow money for next to nothing.
I bet they fold.
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What wine goes with unemployment?
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Larsenebezzle
Posts: 746
Incept: 2009-05-05
Land of Oz
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I am heavily positioned in lead and lead delivery systems.
"Running's not a plan! Running's what you do, once a plan fails!" Earl Bassett
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Cutemloose
Posts: 699
Incept: 2008-02-12
Southern England
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The austerity you suggest is political suicide.
It may be least worse choice, but political suicide so isn't going to happen.
This is all just posturing in a bigger plan.
Consider for a moment that the game may be to push Greece into failure because of leach**** attitude then seal the borders and film every little nitty-gritty bit of suffering that the people go thru because of their "mistaken vote".
That way you pull the electorate in every other country into line.
Of course you also gotta hope the electorate don't recall that little bit of people power that took place in Iceland- you remember ...with the flares around the parliment building? The control trick does not work in small democracies.
The blow up of Greece will not be about the political classes behaving economically logically- it will be about control of everyone else, that's political logic- it's a game called... shoot one, scare the rest.
A battle for hearts and minds, not maths.
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Disclosure: I am of the Austrian school, of Rothbardian persuasion. I believe in minimal government. Spent 5 years and possibly $1million to see if business can be run on this basis (leaderless). Good news for me is that it can, and profitably, bad news is that it only works with responsible people.
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Avianphlu
Posts: 3953
Incept: 2008-12-03
Ulster NY
Online
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if austerity is political suicide, then let em die
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Jal
Posts: 512
Incept: 2009-03-25
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Quote:Here's the truth:
It's none of the rest of the world's problem if and when your banks lend money to someone has no ability to pay. The lender has more information than the borrower as the lender has history across many borrowers; you have only yourself. Therefore, it's the lender's problem if he makes a foolish loan and he should lose his money.
This is especially true when the lender, and other lenders, actively conspire to mislead as to the borrower's debt load and ability to pay. We know for a fact that this happened with hinky derivative deals that made deficits look smaller than they really were. This is an active fraud and if the lenders claim they were deceived on purpose and had no part in it then they should sue the parties involved -- which are other bankers!
When, as a lender, you exploit a legal means to counterfeit, thereby lending money you don't actually have (this would be criminal fraud for anyone else!) and get caught it is both your problem and your government's, and nobody else's. Quote:Over time allowing this fraud to continue must destroy the purchasing power of the people, and again this is mathematically provable. It cannot be said enough times and in enough different ways. However, those in control have never cared about "the purchasing power of the people" and never will. Things will only change when it affect their own purchasing power. Or if they become part of the 99%. |
Frat
Posts: 1935
Incept: 2009-07-15
NKY
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Ok Mr. Socialist cum-guzzler, allow me to translate:
"Our former Prime Minister Thatcher's words have been proven true; we've finally run out of other people's (our own taxpayers') money, so now we're outright DEMANDING that Germany let us fleece THEIR citizens too. Sooner or later, I'm sure we'll recover and since everyone deserves to have all of their 'needs' met, this shouldn't be an issue."
**** you *******s. Liberalism is a mental disease. There's NO ****ing money left! We've not only wasted it all, we've wasted several future generations' money as well. GIVE IT UP ALREADY you *******s!
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We're ****ed. Where's Henry Bowman when you need him?
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Themortgagedude
Posts: 8853
Incept: 2007-12-17
saint louis
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Hey Frat - Got Xanax?
or lead???
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I'm already visualizing you with duct tape over your mouth.
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Ben
Posts: 6205
Incept: 2009-10-09
The Distant, Glorious, Past
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"The austerity you suggest is political suicide."
Does not matter.
Either they Austere, or the market does it for them.
Former they chose, can get a non-Fascist leader.
Latter, events make the choosing, and it ends poorly.
At best, AT BEST, they can tell the bankers estouffer and they can pay their government workers, pensions and social benefits at lower levels instead of not at all.
It's either Debt or Us.
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"Why are you going to learn French?"
"Because I'm going to France," says Joe.
"I'm from the future. You should go to China."
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Frat
Posts: 1935
Incept: 2009-07-15
NKY
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TMD - Xanax makes me pass the hell out - no thanks. ;-)
Lead? I had a bunch, with the appropriate delivery systems as well, until an unfortunate maritime accident destroyed my stockpile.
I'm all for legalizing most drugs at this point - just because we're already ****ed - might as well be high to ignore the pain.
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We're ****ed. Where's Henry Bowman when you need him?
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Azusgm
Posts: 2408
Incept: 2010-12-02
East Texas
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Gotta ask. Just how much sovereign paper must the banks hold to keep their regulators happy?
This is so circular that it is becoming a vortex.
From what I've read, the Greeks are relying on barter more and more. They have to. If they can't access credit and their income streams are cut, they become Euro-poor. They appear trapped without euros or a new currency. No fiat = real goods and services.
What a concept.
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Blurtman
Posts: 563
Incept: 2009-01-24
Banned
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David Cameron has no qualifications for the PM job, except having married into the right family which provided him with his one and only job. He is merely a more articulate George W. Bush empty suit defender of the aristocracy. I hope the general population in the UK dusts off the gallows, or perhaps borrows some guillotines from their neighbors across the pond.
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I have a reading comprehension problem and the owner banned me for repeatedly displaying it after being warned.
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Flappingeagle
Posts: 1227
Incept: 2011-04-14
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Quote:Ok Mr. Socialist cum-guzzler, allow me to translate: Awesome opening line... Quote:**** you *******s. Liberalism is a mental disease. There's NO ****ing money left! We've not only wasted it all, we've wasted several future generations' money as well. GIVE IT UP ALREADY you *******s! You know, if you take a differnet view of fiat money it is impossible to waste future money. The future generations just refuse to pay, when that happens the future claims go to zero and voila! nothing wasted. Flap
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Here are my predictions for everyone to see:
S&P 500 at 320, DOW at 2200, Gold $300/oz, and Corn $2/bu.
"You can't build a house of cards on a shaking table." - Tony Johns
The January 2015 AMZN put at $130 (cost $4.25) will be a winner.
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Gen_maximus57
Posts: 4580
Incept: 2007-09-03
Tampa
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Germany will fold
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Kochevnik
Posts: 547
Incept: 2007-07-30
Dallas TX
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HAHA
OK we have a bunch of people (Greece) who borrowed a lot of money they KNEW they were never going to be able to pay back to support a lifestyle they could not otherwise afford ...
And we have a bunch of bankers who lent the money out KNOWING that the loans were never going to be paid back and that the borrowers lied about everything under the sun when they took out the loans. And they made those loans because they were sure when they went under that the govt would prop them up and pay all those bad loans off for them.
Sounds like the USA housing bubble to me.
Fraud theft corruption in every aspect of every business around the world - what could go wrong ?
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There are decades where nothing happens - and there are weeks where decades happen.
-- Vladimir Ilyich Lenin
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Bertdilbert
Posts: 2661
Incept: 2008-12-22
CA
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When the banks control your government, it's your problem.
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Dear Euroland: Relax, Germany has a plan for your money!
Political Capital Defined: We are out of money but will tax our citizens for whatever it takes to "SAVE" the Euro.
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Tm22721
Posts: 976
Incept: 2008-01-09
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The truth has nothing to do with politics. Never has.
The truth will be enforced by Mother Nature. Bondzilla in this case.
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The country is terminally ill and IT JUST WANTS A PILL.
The only way up is down.
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Peterm99
Posts: 4990
Incept: 2009-03-21
SoCal
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Quote:. . . we have a bunch of people (Greece) who borrowed . . .
And we have a bunch of banks who lent . . .
Fraud theft corruption in every aspect of every business around the world . . . None of which would be a problem in a big picture sense were it not for gov'ts and gov't institutions backstopping and guaranteeing all of the players at various points in time. The bottom line is that people and businesses will always try to maximize their ROI. It is the failure of gov't, via its "guarantees" of positive outcomes for all sides and its refusal to enforce laws against criminality by their benefactors, which transforms small problems which a normal marketplace would solve automatically (via bankruptcies, business failure and "true" interest rates, as appropriate) into a systemic problem which threatens economic/societal collapse on a national/continental/world scale.
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". . . the Constitution has died, the economy welters in irreversible decline, we have perpetual war, all power lies in the hands of the executive, the police are supreme, and a surveillance beyond Orwell’s imaginings falls into place." - Fred Reed
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Donethat
Posts: 771
Incept: 2009-04-22
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When the German banks control your government you have a problem. Ask Ireland, or Iceland who threw the foreigners out, I hope.
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Tank
Posts: 441
Incept: 2007-12-14
Seattle Area
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And now governments who allowed the fraud are trying to force governments (Germany), who were wiser, to backstop them. We are soon going to need another planet to backstop ours.
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"A danger foreseen is half avoided." -Thomas Fuller (1608-1661)
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