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  • in reply to: The Only Way Forward For Europe Is Splittsville #7339
    p01
    Participant

    Formerly T-Bear post=7039 wrote: The choice is now, does Europe go down the toilet, or do the leaders pull their heads out of their asses (or be replaced by real economic competence) and work out a policy that allows the body of nations of the EMU to control their economies and currencies in a common rational manner.

    Oh, boy, they have a choice! I’m so excited!
    Can I ask about this choice or it this another type of long winded diatribe except of the industrial economic dogma summoning some type of mythical skittles-generating creature?

    Without credit, there is no industry

    Steve from Virginia

    in reply to: Laiki Bank: Some Depositors Are More Equal Than Others #7259
    p01
    Participant

    Boy, those Russian oligarchs could have taken out a lot more than a few millions had their boss let the banks open branches and issue tons of credit in Mother Russia.

    As of today, no branches of foreign-based banks operate in Russia

    Too bad; it’s still 1-0 for the [strike]holders of bank stocks, bonds and RE[/strike] Banksters.

    in reply to: The Lesson From Cyprus: Europe Is Politically Bankrupt #7250
    p01
    Participant

    People in Spain and Portugal still have a choice

    No, they don’t!
    They HAD a choice in 2008, but since then absolutely everybody had been on a rampage of totaling whatever money they still had, and maxing all the credit they still could.
    I don’t blame them, because it’s a bitch to resist and not just say “screw this, I’m maxing the $shit out of everything I can get my hands on“, because _insert_whatever_reason_here_.
    On the other hand, I don’t shed a tear for the ones over their head in debt, either, because their actions have directly affected me via the inflation they have created by taking on debt upon debt without measure, when it became clear it cannot be paid back (most have already figured out it cannot be paid back).

    in reply to: The Cyprus Deal is Already Under Threat (Of Course) #7237
    p01
    Participant

    Makes sense. The bank runs have happened (stealthily) long time ago, people don’t have any money anymore (neither do the banks), so the next logical step is clearly bank closures. The extend & pretend & issue more debt has only masked the normal steps towards full blown Unprecedented Mother of All Depressions, but has not stopped its march behind the curtain.
    Liquidations and bank closures next.

    in reply to: The Cyprus Deal is Already Under Threat (Of Course) #7234
    p01
    Participant

    C’mon, jal! Those guys can’t plan a piss-up in a brewery, they can only dictate when things get dicey, and the diktat recipe is well known and tried.
    And frankly, there’s nothing else they can do, because what happens, really, is that there’s no more capital. It has been spent & burned & evaporated. Everyone talking about capital controls misses the point that there’s nothing (or not much) to control anymore.
    That’s all.

    in reply to: The Cyprus Deal is Already Under Threat (Of Course) #7232
    p01
    Participant

    Can’t run on a bank when you either don’t have anything to withdraw, or you don’t have anything to withdraw anymore, or ummm…. when you can’t withdraw what you don’t have anymore. Problem solved. :whistle:

    Now, only the stock market finally crashing might spook the masses into paying attention to the fact that they don’t have anything anymore.

    And the stock market finally crumbles. Watch out.

    in reply to: Bank Run in Cyprus; Who's Next? #7225
    p01
    Participant

    @Nassim: The title sould be Banksters VS Russian Oligarchs: Fatality!
    😆

    Somebody finally realized there’s probably no tax to be made in the under 100k savings category. A “deal” was made.
    Banksters win.
    Round 2: FIGHT!

    in reply to: The Cyprus Deal is Already Under Threat (Of Course) #7193
    p01
    Participant

    Alexander Ac post=6888 wrote: And most of them does not have savings, rather debt, I suppose, so why bother taking away few bucks from the wealthy?

    Bravo, Alex!
    To wit, here’s your average person’s bank run capability:
    https://www.statisticbrain.com/american-family-financial-statistics/
    I can’t find any statistics for EU (Cyprus), but I doubt they’re any better.

    Sometimes I really wonder about this disconnect from reality.

    in reply to: The Cyprus Deal is Already Under Threat (Of Course) #7180
    p01
    Participant

    Mother Russia had banned foreign banks from opening branches just before the rash fiasco with Cyprus, were some Russian money was universally known to quietly reside:
    https://www.itar-tass.com/en/c32/677099.html

    :whistle:

    in reply to: Bank Run in Cyprus; Who's Next? #7147
    p01
    Participant

    yyy post=6858 wrote: Ilargi (or Stoneleigh): Is there any safety in alternative currencies

    From personal experience, I can attest that ANY alternative currency will be outlawed, and one could do (serious) time for possessing alternative (Western, in our case) currency. We used Kent cigarettes as alternative currency (google: Romania Kent Currency).
    Of course, YMMV depending on were you live, because peripheral countries usually get that kind of treatment; if you’re blessed to live in [strike]Da Core[/strike] the land of freedom, then your currency might do more than fine, except it might be extremely scarce.

    in reply to: Bank Run in Cyprus; Who's Next? #7145
    p01
    Participant

    Meh, still no bank runz at 1130 EST. Same pics of those 4 people in line at Da ATM.
    This depression will skip the physical bank runs, in Da Periphery. Maybe we’ll get some action in Da Core next week?
    Popcorn on!

    in reply to: Bank Run in Cyprus; Who's Next? #7142
    p01
    Participant

    Bank run?!
    Sorry, but most people (hard working or not) have nothing to withdraw except a few hundred euros. The bank runs have already happened, electronically, by the cargo-ship-load.

    in reply to: Spain Has A Long Way To Go Down #7028
    p01
    Participant

    @Ilargi
    Of course it’s textbook tulips 😆
    https://en.wikipedia.org/wiki/Spanish_property_bubble

    The housing burst can be clearly divided in three periods: 1985-1991, in which the price nearly tripled, 1992-1996, in which the price remained somewhat stable, and 1996-2008, in which prices grew astonishingly again

    in reply to: Spain Has A Long Way To Go Down #7025
    p01
    Participant

    Debt forgiveness may allow big numbers on paper to return to pre-bubble levels, and that’s about all it can achieve. Return to “normal” is not possible, unless you consider Franco’s era or the Spanish inquisition as “normal”.

    in reply to: Time To Stop Monsanto And The US Supreme Court #6994
    p01
    Participant

    Allegedly the Maker said to Man:
    Thou shall not eat the seeds of plants, and maybe your kind will have a longer shot at it, and will not create Monsanto at the peak of your exponent.

    in reply to: Deflation Arrives In The Eurozone #6956
    p01
    Participant

    @Dave you might have missed the “Eastern Europe” part. Sometimes the laws are only applicable when benefiting the top of the pyramid over there. They are a bit more advanced than the first world in this matter, but the first world catches up fast from what I can observe. Also, the deflation argument does not stand at all, for example in the case of local currency hyperinflation and the loans denominated in another currency which might not devalue as much or might even increase.

    in reply to: Deflation Arrives In The Eurozone #6949
    p01
    Participant

    @Dave
    I would be extremely wary in giving financial advice and green-light to debt for someone in Eastern Europe (or just about anywhere in general). Things may be very different from bankruptcy laws to repo methods. Vinnie the kneecapper, Stoneleigh’s favourite character, may be closer than you think in some parts of the world.

    in reply to: Deflation Arrives In The Eurozone #6937
    p01
    Participant

    @Professorlocknload: Strangely, not a single instance of the word DEBT in the article. 😆

    in reply to: Deflation Arrives In The Eurozone #6933
    p01
    Participant

    [video]https://www.youtube.com/watch?v=m8ZaSAdLFPs[/video]

    Live in Germany for maximum irony.

    in reply to: Poisoned chalice refusal? #6916
    p01
    Participant

    Still, these things have never mattered before, and while media now puts them on display, the population is still turning to [strike]religion and church[/strike] *ahem* “spirituality” *ahem* in greater and greater numbers, while the anti-“the other guy’s religion” sentiment is rising and it will force the church into taking position in the inevitable cleansing.

    in reply to: France Is Dead Broke, But At Least Its GDP Came In Positive #6858
    p01
    Participant

    Two bordering on to three problems?

    in reply to: How To Spot A Zombie #6845
    p01
    Participant

    Mounting evidence in graphs, stats, and in meatspace observations, points to the rentier generation being the one who was bailed out, not “the banks”.
    Just saying.

    in reply to: Tim Geithner, the King of Cloud Cuckoo Land #6773
    p01
    Participant

    No one thinks to look under the carpet just yet. On the carpet is ugly enough:

    in reply to: Scale Matters #6762
    p01
    Participant

    @Eric
    That is very interesting, since it puts a new light on the popular saying, which my grandfather would never miss an opportunity to repeat:
    “Bread makes you fat and dumb”.

    Of course at the time when this wisdom was developed, there were no seed oils (another plague on human health, exclusively brought by the Industrial type of civilization) in the food supply, or I would have known a quote about those poisons also.
    Whether the plants wanted to poison us, or the culture tried to do it instead as a proxy for the plants, some people knew by generational observation what was good and what wasn’t.
    Nowadays everybody is clueless and confused about what to eat, and honestly I cannot blame them, because I got all confused also, little by little. The message is just too strong, and probably the opioids are already doing their thing at full capacity.

    in reply to: Scale Matters #6759
    p01
    Participant

    stoneleigh post=6460 wrote: Thanks 🙂 That’s pretty much what I was going for – looking at expansion and contraction objectively as phenomena that transcend the personal, or even the institutional, so that blame is pointless. All we can do is to look at where we are in the cycle and work with it as constructively as possible. Anger is corrosive, and collective anger even more so. Angry populations to terrible things to their fellow human beings. There is nothing to be gained this way, and a great deal to lose.

    On a personal level, if there’s one single a-hole that I’m positively batshit furiously crazy-angry about, is that SOB who thought it would be a good idea to start planting the frigging grass seeds and use them for food (then store them, guard them, and so on). But then I reason that because the “bright idea” crossed that particular a-hole’s mind, it was inevitable that some other a-hole would have come up with the same idea sooner or later, so I cool down for a while. But then it starts again! Fortunately for him, the guy died 10,000 years ago, or there would have been some serious nose punching, I tell you!
    😆

    in reply to: Scale Matters #6747
    p01
    Participant

    I guess this is how you write The Complete Non Moralizing Theory of Human Tragedy in a single blog post.
    Smashing!
    :woohoo:

    in reply to: One Inch Below The Surface (America, You're Being Punked) #6730
    p01
    Participant

    Ken Barrows post=6439 wrote: We know that financial institutions have to go, but here’s the big question: should industrial society be thrown into the waste bin? Stoneleigh? Ilargi?

    Not speaking for I&S, but:
    1. Financial institutions WILL go, regardless of what they/we want.
    2. If someone comes up with a way to continue building The Pyramids (extremely large capital-eating projects) without using slaves or deferring the slaves to a future generation, I’m all ears. And I’m talking strictly pragmatical capital here, not ecology.
    Anyone?

    in reply to: One Inch Below The Surface (America, You're Being Punked) #6727
    p01
    Participant

    The next thing you’ll hear is they’ll mint 1piece One Trillion dollar coin, designed by headless chickens in their lucid dreams phase, and manufactured by Santa’s Elves from the (nowadays) easily accessible material called Handwavium-FinitusEst-ium.
    Oh, wait…nevermind…

    in reply to: Quote Of The Year. And The Next. #6699
    p01
    Participant

    The Last Call for credit has been made!
    Now it seems as good time as any to find a quiet spot to pop that corn Snuffy mentioned and watch the carnage if you have the stomach for it. Actually you must develop the stomach anyway, because reality does not ask nicely.
    Try to delay joining the fray, for as long as you possibly can. You will, at some point, of course.

    in reply to: Obama Has Once Last Chance To Become A Great President #6635
    p01
    Participant

    USA will get its Great President at some point, alright.
    It won’t be Barry, but the country still has the best chances in the world to be ruled by a Great One, Grandson of God on Earth (the Son of Ra being out of fashion for the last 4000 years). Other countries might not have a shot at having a Holly Supreme Leader, but USA just might. For example, Canada might not, because a Great Leader requires having a whole bunch of [strike]slaves[/strike] devout followers to smack around with impunity, and -40 temperatures work fast against The Great Ones, suddenly leaving them having to cut their own heating wood and raising their food all by themselves. Neither will Japan, UK, and MENA, where Egypt is actively trying to pull the 5000 years old trick yet again without much hope of success this time around.
    Rest assured, though the “Great President Fallback Alternative” will be tried yet again sometime soon.

    in reply to: Impotence, Leverage and Central Banking #6578
    p01
    Participant

    del post=6284 wrote: My limited education taught me next to nothing about $ and the economy. This site has made a poitive difference in my life. Thank you.

    Same here. Probably stating the obvious, but knowing next to nothing about finances and the economy is what helped you understand. I know it was in my case. However, it also made me look further into the rabbit hole, and see just how deep it goes: whoa, Nelly!

    in reply to: How to Rendition An Inconvenient Economist #6492
    p01
    Participant

    I have a strange feeling that Steve will become even more cynical once he factors in energy into his QED model.

    2-nd Law: You can’t break even:

    in reply to: Are we governed by psychopaths? #6429
    p01
    Participant

    Anyone in a position of such power will behave the same in time, because s/he will start to see the others as tools (and whiny, slimy tools that don’t understand his/her ideals). Large scale societies (civilizations) also lack the correctional means by which the alpha (now a pharaoh) is punched in the nose and maybe grilled a bit when he acts against the tribe (now a civilization). I think it’s really that simple, but this explanation doesn’t sell many books and certainly doesn’t stand as elevated conversation, being too simple. It’s been discussed to a great extent in the old TAE blog, though.

    in reply to: Ikea apologizes for use of forced prison labor #6428
    p01
    Participant

    Amazing, forced labour got 20 something views. Maybe it I would have changed the title to “!!!HYPERINFLATION!!! – HERE’S HOW AND WHEN IT WILL FINALLY HAPPEN!!!!” it would have been more interesting.

    And some still think there’s hope…

    in reply to: From the other "Humans as source of Food" dept: #6416
    p01
    Participant

    Actually it’s:
    Neither a pig raising macaque, nor a macaque raising pig be.
    😆

    in reply to: Bernanke And Draghi Are Not Trying To Save Our Economies #6407
    p01
    Participant

    Well, that didn’t take long:
    Human Bodies For Fertilizer?
    My imagination leaps forward to a time when enlightenment finally comes to the human race.

    My imagination doesn’t leaps forward, because it’s been tried before, with great success, in meatspace not in imagination, by the shipload.

    Ain’t Homo Magister grand? Say it ain’t so!:
    Book of the Damned

    Although, first we must figure out how to run the Industrial Civilization on something else instead of debt (running it on disposable slaves is really the only other option), because this is the “Enlightenment” du jour.

    in reply to: Sandy : Lessons From The Wake Of The Storm #6391
    p01
    Participant

    There’s been an interesting discussion on Steve’s Blog, where he also pointed to having some board games to combat boredom; for the ultimate ironical mindless fun, I would recommend LIFE. You simply can’t beat the cynicism of playing The Game of Life in an end of the life as we know it situation. Oh, backgammon helps too, it’s most popular boredom killer I’ve known.

    in reply to: EU Game Changer: Austerity Hits The Core #6388
    p01
    Participant

    Guess what? Greek Parliament passes 2013 austerity budget with comfortable majority.

    Deja-vu for this green slime slave.Waiting for the worms: Waiting for the worms now.

    in reply to: Europe Makes Obama Look Good, But That's Not The Whole Story #6331
    p01
    Participant

    Also note mentioning is that power never relinquishes power voluntarily. There are no “reverse pharaohs”, as some would like to believe, because they would not be in power anymore following an attempt to decentralize, and another will take charge of all the available reins once they become loose. It’s the way the world works, at least for the last 10,000 years or so.

    Simply as a matter of personal taste, I’d rather be ruled by a corrupt pharaoh than an idealistic one, but, as a green-slime slave, I certainly have no saying in this matter.

    in reply to: Europe Makes Obama Look Good, But That's Not The Whole Story #6311
    p01
    Participant

    steve from virginia post=6012 wrote:
    Over the course of 300 years someone smart enough would have figured out something to do with petroleum other than burn it.

    Something like … plastic?: plastic? It surely seems to lasts long enough … well … err… at least until something adapts to use it as food. 😉

Viewing 40 posts - 41 through 80 (of 117 total)