A hundred Amerinotes says the Fed wants itself a Mitt Romney, feets. The very semblance of businesslike order will do wonders for the composure of all things fiat.
Oh, and next up expect money by computer. The mind it reels.
Keep your eyes on Italy, rather than Spain, money people. If Italy goes tits up it will signal the beginning of the domino effect that will take down the European money markets and signal a global monetary crisis.
The statists over at AP issue some nouns and adverbs that nicely self-parody the old whores:
However the Greek story ends, Blythe believes it’s bound to be ugly. Putting 17 countries together to share a common currency worked well when Europe prospered. Now that they’re struggling, “all the design flaws are becoming apparent,” he says. And every solution that’s supposed to fix a problem creates another problem.
The proposed $125 billion loan to save Spanish banks, for instance, will add to the debt burden of Spain. That sent Spain’s borrowing costs higher this week and will put a tighter squeeze on its budget.
One benefit of coming chaos not related to Cloward-Pivenesque bliss and its final perfection of the human animal will be all the loosed bowels. By their request the hills should indeed fall on many.
Even an ND win and successful coalition just delays the inevitable. There’s no way Greece can get out of its death spiral without getting out of the Euro.
If the financial types are smart, they’ll use a New Democracy victory as the opportunity to buy time to cushion the blow–i.e., getting unentangled from Greek debt derivatives.
I agree if Italy goes it’s lights out–and Italy’s yields are barely better than Spain’s. But Spain has the same economic dynamic as Greece–ridiculous unemployment and grotesquely unhealthy local banks, complete with horrific real estate bubble (which is not a Greek problem). Spain will be enough to kick the chocks out, and I still think it goes first.
Watch France, too–her yields are going to skyrocket with some good ol’ fashioned Hollande-aise “stimulus” inbound.
No wonder Berlin wants nothing to do with Eurobonds.
A hundred Amerinotes says the Fed wants itself a Mitt Romney, feets.
it would be logical for the fed to refrain from shooting its wad until it could conjoin a monetary response to a fiscal response I guess, since it’s pretty clear that all their printings don’t really do a whole fucking lot to help create jobs when your only fiscal response is “more food stamps”
It’s simple, feets: Elect Romney > gesticulate wildly at the wise new business acumen > knock back the American State somewhat > watch the economy throttle down even more as the newswhores go ape > incur the inevitable monetary crisis > create a New Dollar > double-down on the New Global System. Variously insert China, scads of other interlinked crisis, and the rest.
Throughout occurs the inevitable DTs when this global addiction to Ponzi centralism confronts the inevitable abstinences of rank failure. Romney takes the hit and the cycle repeats. In the end it’s all C-P anyway. Central money is good like that.
“19.05 It’s become a sideshow to the Greek election, but France’s Socialists have won control of parliament. That gives Francois Hollande a convincing majority with which he can push through his tax-and-spend agenda.
The Socialists’ bloc obtained between 312 and 326 seats – an absolute majority in the 577-seat National Assembly.”
“Willing to work from the other side,” continued Santorum, “in this town means doing what the other side wants only doing it slower instead of doing what is necessary for this country which is scaling back government. Instead of growing government less fast, we want government to get smaller. Now, we’re willing to compromise on how quickly we do that, but the idea that we need people who just slow down this eventual growth and that’s the answer is wrong.”
“Just sounds like no room for moderates,” Crowley responded.
“What does ‘moderate’ mean?” asked Santorum.
“That perhaps you’d reach across the aisle and say, ‘I get where you’re coming from,’” replied Crowley.
“No, no, no,” Santorum countered. “Moderate in this town, a moderate understanding is doing more big government. In other words, ‘We’re still going to grow government, we’re just going to grow it less.’ We need to stop that.”
“The only cure,” he argues, “is to reduce the value of the prize.”
The way back to legitimacy is to make government smaller; to accept that it ought to have limits; a notion which may seem quaint to modern ears. The key step is to put the “rationally ignorant” people back in charge of solving societies problems through their rational and deep knowledge of the physical and productive world. As for government, it has its place. But only a place.
Can it be done? DeLong closes with a challenge from the Ben Franklin. “A Republic, if you can keep it”. But Franklin thought it was possible, and his contemporaries answered for their generation.
I have often…in the course of this session … looked at that … without being able to tell whether it was rising or setting; but now at length I have the happiness to know that it is a rising and not a setting sun.
But that question must put and re-answered anew in every time. Whether the present is up to the task is an open question. But perhaps putting the question is itself the single most crucial step. And there is no better guide for understanding it than James DeLong’s book. It is invaluable in understanding the current crisis and I unhesitatingly recommend it, at least to all who hope to gaze at the rising and not the setting sun.
i throw this out for consideration(its on topic because doom’s a coming): i’d like to do a blitz over the weekend before, with con/libertarian sites, either the r or d conventions, of reagan’s liberty park speech:
I think it would be much more instructive if Syriza formed a government, rejected the bailout deal, enacted their increased government spending programmes, and Greece went down the toilet and around the U-bend. Ditto France with Hollande’s fantasies, and see what France’s credit rating becomes. Let the leftists burn; the world may just learn something (save Krugman, of course, who will just opine that not enough money was spent).
Isn’t this about the 20th go-around on Greek default in the last year? Can they just get it over with, please? These things used to bounce the market for months, then weeks, then days and now minutes.
Actually SW, the way I think of it, it’s mostly the money of little children, some of whom may not even be born yet, but damned near all of whom neither I nor Paul Krugman know, but in any case have no say in the matter as the decision would be taken. We could almost borrow and modify the old phrase, redeeming it “Taxation without intellection”.
On the surface of the surface, it must almost seem like stealing from the future is a smart thing to do. Just so long as Krugman doesn’t get an itch to scratch, he’ll never know for never looking.
it must almost seem like stealing from the future is a smart thing to do.
It is, for a while, sdferr. Then, because we know that time travel indeed does work – in one direction at this point – we arrive in the future and discover that we’ve stolen from ourselves. Greece is now there. Central Falls, RI, is now there. California is gosh darn close.
I’m not too worried about the little children; their paradigm will be whatever it is and whatever they make of it. But I guarantee that they will not be paying off this debt. Germany never paid off the debts of the Weimar Republik. We, however, are going to be paying for our excesses, not with money, but with heartache and pain as the paradigm changes.
On the other hand, how about them Red Sox?!
this means the fed will hold off on QE whatever number for now, yes?
probably? maybe?
you just know they’re itching for an excuse to print print print and help reelect president food stamp
Just the thing UN-mandated policy shall cope with, JG, that being why both cause and effect occur like they do.
See? Progressivism is not only a mental disorder, it’s its own cure, that being what denial was invented for! QED!
A hundred Amerinotes says the Fed wants itself a Mitt Romney, feets. The very semblance of businesslike order will do wonders for the composure of all things fiat.
Oh, and next up expect money by computer. The mind it reels.
New government or no, Greece’s problems run deep.
Keep your eyes on Italy, rather than Spain, money people. If Italy goes tits up it will signal the beginning of the domino effect that will take down the European money markets and signal a global monetary crisis.
Dark days ahead.
It’s been suggested that something that happened yesterday might have depressed leftist turnout. Alcohol might be involved.
The statists over at AP issue some nouns and adverbs that nicely self-parody the old whores:
One benefit of coming chaos not related to Cloward-Pivenesque bliss and its final perfection of the human animal will be all the loosed bowels. By their request the hills should indeed fall on many.
Even an ND win and successful coalition just delays the inevitable. There’s no way Greece can get out of its death spiral without getting out of the Euro.
If the financial types are smart, they’ll use a New Democracy victory as the opportunity to buy time to cushion the blow–i.e., getting unentangled from Greek debt derivatives.
I agree if Italy goes it’s lights out–and Italy’s yields are barely better than Spain’s. But Spain has the same economic dynamic as Greece–ridiculous unemployment and grotesquely unhealthy local banks, complete with horrific real estate bubble (which is not a Greek problem). Spain will be enough to kick the chocks out, and I still think it goes first.
Watch France, too–her yields are going to skyrocket with some good ol’ fashioned Hollande-aise “stimulus” inbound.
No wonder Berlin wants nothing to do with Eurobonds.
Yet meine sweste, Angela Merkel is being painted as a mean old tightwad. You know, a German who thinks half-measures avail us nothing.
What a buzzkill.
toss this ‘r’ up there so swester is spelled right
A hundred Amerinotes says the Fed wants itself a Mitt Romney, feets.
it would be logical for the fed to refrain from shooting its wad until it could conjoin a monetary response to a fiscal response I guess, since it’s pretty clear that all their printings don’t really do a whole fucking lot to help create jobs when your only fiscal response is “more food stamps”
It’s simple, feets: Elect Romney > gesticulate wildly at the wise new business acumen > knock back the American State somewhat > watch the economy throttle down even more as the newswhores go ape > incur the inevitable monetary crisis > create a New Dollar > double-down on the New Global System. Variously insert China, scads of other interlinked crisis, and the rest.
Throughout occurs the inevitable DTs when this global addiction to Ponzi centralism confronts the inevitable abstinences of rank failure. Romney takes the hit and the cycle repeats. In the end it’s all C-P anyway. Central money is good like that.
i can’t help but be hopeful, even if that’s not a very reality-based p.o.v.
things can change very very fast
Daniel Hannan says the “winners” of the election aren’t all that committed to austerity anyway:
http://blogs.telegraph.co.uk/news/danielhannan/100165822/another-non-result-in-greece-how-much-longer-can-this-go-on/
Oh, and France decides to ignite itself:
“19.05 It’s become a sideshow to the Greek election, but France’s Socialists have won control of parliament. That gives Francois Hollande a convincing majority with which he can push through his tax-and-spend agenda.
The Socialists’ bloc obtained between 312 and 326 seats – an absolute majority in the 577-seat National Assembly.”
http://www.telegraph.co.uk/finance/debt-crisis-live/9336591/Greek-election-Live.html
We can look forward to yutes setting cars ablaze all across the Eurozone this summer.
“Willing to work from the other side,” continued Santorum, “in this town means doing what the other side wants only doing it slower instead of doing what is necessary for this country which is scaling back government. Instead of growing government less fast, we want government to get smaller. Now, we’re willing to compromise on how quickly we do that, but the idea that we need people who just slow down this eventual growth and that’s the answer is wrong.”
“Just sounds like no room for moderates,” Crowley responded.
“What does ‘moderate’ mean?” asked Santorum.
“That perhaps you’d reach across the aisle and say, ‘I get where you’re coming from,’” replied Crowley.
“No, no, no,” Santorum countered. “Moderate in this town, a moderate understanding is doing more big government. In other words, ‘We’re still going to grow government, we’re just going to grow it less.’ We need to stop that.”
Read more: http://newsbusters.org/blogs/noel-sheppard/2012/06/17/santorum-schools-cnns-crowley-what-moderate-and-willing-work-other-si#ixzz1y5OBeGfE
“The only cure,” he argues, “is to reduce the value of the prize.”
The way back to legitimacy is to make government smaller; to accept that it ought to have limits; a notion which may seem quaint to modern ears. The key step is to put the “rationally ignorant” people back in charge of solving societies problems through their rational and deep knowledge of the physical and productive world. As for government, it has its place. But only a place.
Can it be done? DeLong closes with a challenge from the Ben Franklin. “A Republic, if you can keep it”. But Franklin thought it was possible, and his contemporaries answered for their generation.
I have often…in the course of this session … looked at that … without being able to tell whether it was rising or setting; but now at length I have the happiness to know that it is a rising and not a setting sun.
But that question must put and re-answered anew in every time. Whether the present is up to the task is an open question. But perhaps putting the question is itself the single most crucial step. And there is no better guide for understanding it than James DeLong’s book. It is invaluable in understanding the current crisis and I unhesitatingly recommend it, at least to all who hope to gaze at the rising and not the setting sun.
http://pjmedia.com/richardfernandez/2012/06/17/the-coming-of-the-next-american-republic/
I linked yesterday to some pussy whining about the UVA president being fired by a rich guy. Looks like it’s even better than that: it was Breitbart
We’re for SCIENCE. Or at least a plausibly deniable facsimile thereof, provided of course the correct conclusion is reached.
i throw this out for consideration(its on topic because doom’s a coming): i’d like to do a blitz over the weekend before, with con/libertarian sites, either the r or d conventions, of reagan’s liberty park speech:
http://www.youtube.com/watch?v=tbroTjVm8Bw
maybe con sites should do both conventions. maybe the con/classical liberal blogosphere should make our position’s clear to belt way boobs.
the r con. 8/27-8/30 tampa
the d con. 9/3-9/6 charlotte w/demented ass http://2012.democratic-convention.org/
– Well at least they have the perfect mascot….
– So they have that going for them.
Agora.
Forum is Roman.
I think it would be much more instructive if Syriza formed a government, rejected the bailout deal, enacted their increased government spending programmes, and Greece went down the toilet and around the U-bend. Ditto France with Hollande’s fantasies, and see what France’s credit rating becomes. Let the leftists burn; the world may just learn something (save Krugman, of course, who will just opine that not enough money was spent).
“… that not enough [of someone else’s] money was spent,” is his usual thrust.
Yours, mostly, I’m thinking.
Isn’t this about the 20th go-around on Greek default in the last year? Can they just get it over with, please? These things used to bounce the market for months, then weeks, then days and now minutes.
Actually SW, the way I think of it, it’s mostly the money of little children, some of whom may not even be born yet, but damned near all of whom neither I nor Paul Krugman know, but in any case have no say in the matter as the decision would be taken. We could almost borrow and modify the old phrase, redeeming it “Taxation without intellection”.
On the surface of the surface, it must almost seem like stealing from the future is a smart thing to do. Just so long as Krugman doesn’t get an itch to scratch, he’ll never know for never looking.
it must almost seem like stealing from the future is a smart thing to do.
It is, for a while, sdferr. Then, because we know that time travel indeed does work – in one direction at this point – we arrive in the future and discover that we’ve stolen from ourselves. Greece is now there. Central Falls, RI, is now there. California is gosh darn close.
I’m not too worried about the little children; their paradigm will be whatever it is and whatever they make of it. But I guarantee that they will not be paying off this debt. Germany never paid off the debts of the Weimar Republik. We, however, are going to be paying for our excesses, not with money, but with heartache and pain as the paradigm changes.
On the other hand, how about them Red Sox?!