Europe in chaos...never!!

[Jimbuna]

Euro will sort themselves out...

http://punditkitchen.files.wordpress.com/2012/06/political-pictures-orca-summit.jpg

[STEED]

Are the G8..

Great food
Great Drink
Great seats
Great time
Great chat
Great round of slapping each other on the backs, didn't we do well

Answer: Kick the can down the road...Solved nothing.

Lets do this again soon at the next G meeting.

[Skybird]

Heads on speers, put on display in every town's market place.

Medieval clergy and selfish aristocracy of past centuries could take lessons from corrupt and incompetent Europe today.

The dogma of eternal growth is what has sealed our doom. Sustainability should have been the key criterion deciding everything else. What we choosed for, was craving for more instead.

We are where we deserve to be. I see no longtermed rescue for us. Only collapse, and an evolutional dead end, because I do not think we will see a sudden jump in our ethical evolution. There is a 50.000 year gap between our softwar and our hardware.

P.S. Sorry, but somoebody had to lift the mood again, I think.

[STEED]

***8216;Serious possibility***8217; Cyprus may need EU bailout

http://english.alarabiya.net/articles/2012/06/05/218792.html


Spain's Bailout Refusal Is 'Kamikaze Politics'
http://www.spiegel.de/international/europe/spanish-bailout-refusal-is-no-longer-tenable-say-commentators-a-837318.html

Madrid hopes to get around bailout conditions with direct aid to its banks

Why? Banks are all the same..Another word for rough file ending in s.

[TarJak]

You could always buy into Australia's 4.3% GDP growth. http://www.smh.com.au/business/consumers-and-mining-fuel-growth-20120606-1zwqt.html

Oh wait... you're all broke.:03:

Not that I'm too keen on how our economy will be effected by the mess your mob are making over there.

[STEED]

You could always buy into Australia's 4.3% GDP growth. http://www.smh.com.au/business/consumers-and-mining-fuel-growth-20120606-1zwqt.html

Oh wait... you're all broke.:03:

Not that I'm too keen on how our economy will be effected by the mess your mob are making over there.

Your be alright if you side with China to take over the world.

[TarJak]

Your be alright if you side with China to take over the world.

No doubt about that. However their domination is based on a house of cards. They released some more stimulus http://www.smh.com.au/business/chinas-fix-dont-mention-the-stimulus-package-20120530-1zjg8.html

The first round from 2009 has run out and they are printing more money to fuel their growth. The whole mess will fall in time.

I'm preparing for when they decide they can't pay for the raw materials and come get them by force. I've got my loincloth and a spade so I'm ready for slave labour in "their" mines in Western Australia.:nope:

[JU_88]

Are the G8..

Great food
Great Drink
Great seats
Great time
Great chat
Great round of slapping each other on the backs, didn't we do well

Answer: Kick the can down the road...Solved nothing.

Lets do this again soon at the next G meeting.

Yup thats pretty much sums it up. :yeah:
the sad part is that they are trying to untangle a mess, that they could have actually have avoided all together - had they tried to untangle it 10 years ago!
Our global economy is like a sophisticated peice of machinary that is held together with glue and operated by chimps.

[Rockstar]

http://i1196.photobucket.com/albums/aa408/jky242/6d665fe3.jpg

[STEED]

The first round from 2009 has run out and they are printing more money to fuel their growth. The whole mess will fall in time.



China is part of the 3rd currency war that is going on now with America & Europe since 2010. There is talk the best thing we all can do is dump paper money which are governments don't want us to do for the return to the gold & silver standard.

[JU_88]

China is part of the 3rd currency war that is going on now with America & Europe since 2010. There is talk the best thing we all can do is dump paper money which are governments don't want us to do for the return to the gold & silver standard.

Yes, and it does rather look like will try to push for an independant world central bank (like the frederal reserve on steriods), and if not a global currency, there will certainly be a new world reserve currency at the very least. It will be the biggest and probably the ugliest transfer of wealth in history. Cant say im looking forward to it :oops:

[TLAM Strike]

If the EU turned its governance over to Cetaceans they would no doubt be in far less trouble than they are in now.

[Skybird]

China is part of the 3rd currency war that is going on now with America & Europe since 2010. There is talk the best thing we all can do is dump paper money which are governments don't want us to do for the return to the gold & silver standard.
Both Germany and the US have had times in the past 100 years when the state enforced people to transfer private wealth to the state by declaring it illegal and crminal by the law to own gold. Police raided homes and searched for illegally owned gold "treasures".

When they want your wealth, they will find ways to get it. Wanted high inflation, high cold progression, devaluing, taxes, or simply laws ruling something. As long as you are not willing to declare civil war and starting to shoot at the other side while plenty and pleny of buddies are by your side, you always sit at the shorter end.

It's not as if the maths of redistrubuting wealth and shifting it from the many poor to the few rich and then to the bailout of the riches' institutions, is unknown. The math has been repeatedly demonstrated, the statistics speak a clear language. But many people do not believe it for ideological, political reasons, or they do ignore it because if they would not, they would need to draw consequences that bring them into conflict with their life plan of how to invest into a home, raising a family and enjoy watching the grandchildren playing in the garden. The Greek street battles we have seen short while ago, indicated how fast the relative peace can turn into violence. And what we have seen so far - was nothing compared to what is still to come: in most of Europe.

Always spending more than one earns. Always assuming there is unlimited resources of everything. Always assuming there could be unlimited growth, and no need for thinking in terms of sustainability instead. All this is the eternal cancer haunting mankind , a cancer that sooner or later seems to destroy every human civilisation there ever emerges, always. In the past, when civilisations fell, they were regional only, and when they fell, somewhere else somebody pick up the ball and continued to play. But today, economically and regarding the use of resources, there is only one civilisaiton, and it is global. If this one breaks apart, then there will be nothing left to start again.

But what do I hear from these people? "Growth! Spending Frenzy...! Consume more, and faster!"

We still have not heared the shot.

[JU_88]

there is only one civilisaiton, and it is global. If this one breaks apart, then there will be nothing left to start again.

If that turn out to be the case -and if history is anything to go by, then next part of the cycle is WOOORRR!!
Then there REALLY will be nothing left to start again, lets hope we are both wrong on that one.:damn:

[Oberon]

http://english.alarabiya.net/articles/2012/06/05/218792.html

I'm sure Turkey will be only too happy to 'bail them out'... :O:

[the_tyrant]

Are the G8..

Great food
Great Drink
Great seats
Great time
Great chat
Great round of slapping each other on the backs, didn't we do well

Answer: Kick the can down the road...Solved nothing.

Lets do this again soon at the next G meeting.


Still doesn't make it a great party though
not enough chicks

[Jimbuna]

I'm preparing for when they decide they can't pay for the raw materials and come get them by force. I've got my loincloth and a spade so I'm ready for slave labour in "their" mines in Western Australia.:nope:

LOL :DL

[STEED]

That will help the bailout. :shifty:

Spain Downgraded To BBB As Fitch Predicts Slump Through 2013

http://www.bloomberg.com/news/2012-06-07/spain-downgraded-to-bbb-as-fitch-forecasts-slump-through-2013.html

[Jimbuna]

http://i.telegraph.co.uk/multimedia/archive/01641/cameronMerkel_1641139c.jpg
Things are looking better already :DL

[STEED]

http://i.telegraph.co.uk/multimedia/archive/01641/cameronMerkel_1641139c.jpg

Come here big boy I want to spank you and ride you.

[Jimbuna]

http://i.telegraph.co.uk/multimedia/archive/01641/cameronMerkel_1641139c.jpg

You won't be smiling when you realise what I've got in store for you tonight!!

[STEED]

No point farting around time to bail the honest Spanish banks out. :shifty:

[Jimbuna]

Si Senor :know:

[STEED]

Just one question, which ones?

Don't want to bailout El Crooko do we now.

[Jimbuna]

Surely the Banko El Chapparal Buna is the only real choice :03:

[STEED]

Is that the one who will open their books only to JP Morgan or Goldman Sachs who will give them a clean bill of health. :shifty:

[Jimbuna]

Depends how much they put in the palm of my hand :03:

[STEED]

Depends how much they put in the palm of my hand :03:

Trying to out bid JP Morgan & Goldman Sachs? :haha:

[STEED]

Roll over Dave, Obama wants in..

For election favour, Obama looks to Merkel, again

http://uk.news.yahoo.com/election-favour-obama-looks-merkel-again-201335007.html

[Jimbuna]

First Dave and now Barack...she's a very busy lady...I wonder how much she charges? :hmmm:

A t least now we know where all the German money is coming from :O:

[STEED]

Spain's Rajoy hails bank rescue as 'victory for euro

http://www.bbc.co.uk/news/world-europe-18385634

You wait and see, they got you by the balls now.

[Jimbuna]

It just gets worse and worse :nope:

[BossMark]

It just gets worse and worse :nope:
And those two clowns Gideon and dodgy Dave think they can sort it out :har::har:

[Jimbuna]

http://i1.mirror.co.uk/incoming/article136365.ece/ALTERNATES/s615/image-1-for-editorial-pics-21st-june-2011-gallery-308570433.jpg

[Oberon]

Saw this, thought of Skybird:

http://blogs.reuters.com/great-debate-uk/2012/06/07/the-danger-of-dictating-to-germany/

[Jimbuna]

http://www.bbc.co.uk/news/world-europe-18385634

You wait and see, they got you by the balls now.

I'm betting my money on the Spanish to win Euro 2012 after yesterday.

Much like the Spanish themselves, who will also be betting my money since this weekend...

[STEED]

British gilts are in the red and the FTSE-100 is now sliding again, the gloss of Spain is over!

Time to kick that can down the road one more time.

[JU_88]

British gilts are in the red and the FTSE-100 is now sliding again, the gloss of Spain is over!

Time to kick that can down the road one more time.

Yes, but they are running out of road. Time to stock up on gold and Baked beans I guess. :shifty:

[STEED]

Yes, but they are running out of road. Time to stock up on gold and Baked beans I guess. :shifty:

Nah...plenty of Ponzi ideas out there to come our way and rip us off yet again.

Baked beans on toast...yummy. :DL

[JU_88]

Nah...plenty of Ponzi ideas out there to come our way and rip us off yet again.

Baked beans on toast...yummy. :DL

Oh for sure there is still time, the sky wont fall in just yet :O:, but I prefer to prepare for these things in advance. modest and sensible preparations that is, Im not about to move in to some remote mountain cave with only a sack of weat and an automatic rifle for company. :haha:
I think it will get pretty rough eventually, but i dont doubt that civilization will continue one way or another.

[STEED]

Just been reading a news item from Sky News that was posted 30 minutes ago and it was saying a good day on the stock market but I checked and its down! Makes me wonder if they have a clue what is going on. :haha:

[STEED]

Exclusive - Euro zone discussed capital controls if Greek exits euro - sources

European finance officials have discussed limiting the size of withdrawals from ATM machines

http://uk.news.yahoo.com/exclusive-eu-floats-worst-case-plans-greek-euro-153143583--finance.html

Well there you have it people, there is not enough printed euro's in Europe. :haha:

[Skybird]

Saw this, thought of Skybird:

http://blogs.reuters.com/great-debate-uk/2012/06/07/the-danger-of-dictating-to-germany/

There is anpother implication that in other countries is not realised that much, because of a German speciality: Germans are the most enthusiastic private savers amongst all Western nations, and where as in England and America for example traditonally stock papers are common as a way to save for pensions and higher age, in Germany that function has been traditionally filled by life insurrances. They play a far more important role for private life-long saving plans than anywhere else in the first world. But the interest niveau is such that the insurrers cannot produe any profits by them anymore, and so they have started to lose money due to the guaranteed higher interests of several millions of such old insurancies that were fixed years and decades ago - and now reach the time when the get payed out. Also, fonds investing on behalf of such insurrancies invest in the Eurozone and are heavily depending on them. If Germany would leave the Euro, or the Euro would explode into our faces - it would deliver a K.O. blow to the German social security system and easily could lead within days or weeks to violent conditions much worse than anything we have seen in Greece or elsewhere so far. At least German politicians are desperate, I am sure, because despite their obvious lies they know this - and other implications - very well, just have no exit solution and so just sit still, hold their breath and hope to win more time. BTW, I also do not have an idea for an exit solution. We are beyoind the point of where the thing can be repaired at affordable costs. I only can say that I prefer an end with terror to constantly increasing terror without end.

This Euro is like having been hit by a poisened spear with huge barbs, and the tip sits very close to the heart. It kills by poison if not being removed, and removing it would cut the heart and kill the victim immediately.

The benefit for Germany from trading with the Euro-"partners" often is exaggerated. Exports of the past three years depended more on oversea marketplaces, and that means quite a relativising of the usual cliam that the Euzro was a blessing for Germany. Calculations done by independent institutions not obeying political parties and lobby groups show that the overall effect of calculating the coasts versus the gains result in a balance with an almost zeroed net effect. Considering that this overestimated curfrecny was traded for destroying the D-Mark and the independen ce of the German Federal bank means that what Germany got delivered by the Euro was a major wounding. And as I argue since years: that was exactly what Mitterand wanted, probably also the British government and Bank of England.

A remarkable essay, Oberon, considering the author is no German internal critic, but an Englishman or American ( I don't know). When I scan the international press especially in Europe I have the very strong impression that the view of Germany being the giant that can bear all bills of the EU and has no internal risks and vulnerabilities, is dominating the international media. Der dukatenscheißende Goldesel der EU, so to speak. I ask who bails out Germany when it has collpased - and it will collapse, I am 80% sure. There is no bigger player in Europe than Germany. The social safety of future pensioners we have already destroyed (while Hollande in france has lowered the pension age for some people again - thank you France for letting us Germans work longer and harder to pay you lazy socialists for that luxury- we have just increased our pension age to 67 and it is expected that it will be pushed up to beyond 70 sooner or later). Our banking system is shaking and tottering. The additional guarantees for the Euro bailouts of the past two years alone equal a minimum of two national budgets, some calculations even say it is already beyiond the factor of 4. Our debts are mounting and are officially beyond 2.2 trillion, inofficially, when including future pensions for state employes of the present moment, it is in the range of 7-6 trillion.

When Germany collapses and social unrest, maybe civil war, reigns in the streets again - then the fun times are back in Europe!

The Euro is not needed to prevent europe falling back into national rivalry and hostility. The past three years have clearly shown that the Euro has right produced what it claims to prevent, and the national hostilities have grown since then. The good thing is that it saves all the potential aggressive energy. When it explodes, it blows erven more brutal at the EU as well, increaisdng the chances to destroy it and make room for a better form of national coordination. In the end, the EU fails due to its pedantic, surreal megalomania. I personally think that the EU is even more worthless and misconstructed than the UN, because the UN at least has not been given the tools and means to do damage. Everybody knows its just a freak show that has nop real powers (thankfully). But the EU has been given this power to damage Europe.

And it makes massive use of it since the end of the cold war.

[Jimbuna]

Time to withdraw my investments and drag the British banks down to the same levels as those in Spain :O:

http://img132.imageshack.us/img132/8231/pinocchioij91.gif http://img395.imageshack.us/img395/9501/liarrv1ed9.gif

[JU_88]

Time to withdraw my investments and drag the British banks down to the same levels as those in Spain :O:

http://img132.imageshack.us/img132/8231/pinocchioij91.gif http://img395.imageshack.us/img395/9501/liarrv1ed9.gif

While its inevitable that 'we will get ours', We got Mervins printing press which should allow us to 'kick the can' for little while longer than anyone using the single currency, I expect we will be one of the last ones to hit the dreaded reset button. These things can esculate very rapidly as we saw in 2008, but for now Europe is still in slow motion train wreck mode.
Im pretty sure we will see another round of counterfi.... (ahem) QE, before this month is up. :dead:

[mapuc]

This cartoon was in todays Financial Times

http://i1235.photobucket.com/albums/ff440/mapuc/168892_10150948087495750_1077785145_n.jpg

This pictures says more than thousand words.

Markus

[STEED]

This cartoon was in todays Financial Times

http://i1235.photobucket.com/albums/ff440/mapuc/168892_10150948087495750_1077785145_n.jpg

This pictures says more than thousand words.

Markus

^^^THIS?
German parties fail to resolve row over fiscal pact

http://uk.news.yahoo.com/german-parties-fail-resolve-row-over-fiscal-pact-122242393--finance.html

[JU_88]

This cartoon was in todays Financial Times

http://i1235.photobucket.com/albums/ff440/mapuc/168892_10150948087495750_1077785145_n.jpg

This pictures says more than thousand words.

Markus

A nice one for the history books :)

[mapuc]

When I saw this images I remembered all that Skybird have written about Germany and EU. How Greece accused Germany for not helping them and all the rest of EU that wants Germany to be the train that shall lift EU, while their just sit back and enjoy the ride.

Markus

[Jimbuna]

I'll wager she lifts the weight with a minimum of effort :O:

[JU_88]

http://www.youtube.com/watch?v=1Csc99K3fPI

[Jimbuna]

^ The truth, the whole truth and nothing but the truth :yep:

[JU_88]

^ The truth, the whole truth and nothing but the truth :yep:

....So help us god :D

[Jimbuna]

....So help us god :D

Oh I think Europe is way beyond that now :)