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What happened to all of the doom and gloom economic threads?

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By DAVID McHUGH, NICHOLAS PAPHITIS and COLLEEN BARRY
Associated Press
ATHENS, Greece

In Europe's most economically stricken countries, people are taking their money out of their banks as a way to protect their savings from the growing financial storm.

Worried that their savings could be devalued, or that banks are on the verge of collapse and that governments cannot make good on deposit insurance, people in Greece, Spain and beyond are withdrawing euros by the billions _ behavior that is magnifying their countries' financial stresses.

The money is being hoarded at home or deposited in banks in more stable economies.

It's a steady bank "jog" at the moment, not a full-bore run. But it threatens to undermine the finances of those countries' already-stressed lenders. And if it does turn into a full bank run after Greece's crucial election on Sunday, it could hasten financial disaster in Europe and help spread turmoil around the world.
Click to expand...
http://www.breitbart.com/Big-Peace/2012/06/16/Greek--Spanish-savings-flee-eurozone-crisis

No collapse here!

None...

;)


mercury14 said:
While you're at it, could you come up with a plan to cancel out America's nigger amnesty policy? And who gave Pocahontas and her drunk-ass tribe citizenship?
Click to expand...

Merc’s Day Alt:
http://forum.literotica.com/showthread.php?p=33735857&highlight=physician#post33735857
The lying
http://forum.literotica.com/showthread.php?t=800325
 
4est_4est_Gump said:
By DAVID McHUGH, NICHOLAS PAPHITIS and COLLEEN BARRY
Associated Press
ATHENS, Greece


http://www.breitbart.com/Big-Peace/2012/06/16/Greek--Spanish-savings-flee-eurozone-crisis

No collapse here!

None...

;)




Merc’s Day Alt:
http://forum.literotica.com/showthread.php?p=33735857&highlight=physician#post33735857
The lying
http://forum.literotica.com/showthread.php?t=800325
Click to expand...



Nothing in your link says there was global market collapse on My 6th. You didnt read your own link, did you?
 
Dances With Falsehoods said:
It was never there.

You are probably insane...

Since you are signaling your adamant refusal to be reasonable, I will continue to reply in kind.

When you stop trolling me with out-of-context material, then I shall stop doing the same.
Click to expand...

Notice how every single time AJ gets caught being "far less than truthful", he splutters "out of context!". :rolleyes:

Now say "Throb sagt, ich gewinnt" if you have very special home videos of your Chinese "daughter" in the shower...
 
Awesome! A twofer on Racists!

Throb sagt, ich gewinnen!

http://www.downinthevalley.com/images/product/medium/164228.jpg

mercury14 said:
While you're at it, could you come up with a plan to cancel out America's nigger amnesty policy? And who gave Pocahontas and her drunk-ass tribe citizenship?
Click to expand...

Merc’s Day Alt:
http://forum.literotica.com/showthread.php?p=33735857&highlight=physician#post33735857
The lying
http://forum.literotica.com/showthread.php?t=800325

Throb thread:
http://forum.literotica.com/showthread.php?t=745068
 
Throb sagt, ich gewinnen!

http://www.downinthevalley.com/images/product/medium/164228.jpg

mercury14 said:
While you're at it, could you come up with a plan to cancel out America's nigger amnesty policy? And who gave Pocahontas and her drunk-ass tribe citizenship?
Click to expand...

Merc’s Day Alt:
http://forum.literotica.com/showthread.php?p=33735857&highlight=physician#post33735857
The lying
http://forum.literotica.com/showthread.php?t=800325

Throb thread:
http://forum.literotica.com/showthread.php?t=745068

:) Have a Nice Day!
 
From the desk of Bill O'Reilly:

REYKJAVIK, Iceland -- President Obama would like Iceland. Geo-thermal energy, free health care and high taxes dominate the landscape. Obama would be in his element even if the actual elements are a bit harsh. Iceland is definitely worth a look if you want to understand the president's vision for America, which is why I have traveled here.

In 2008, Iceland's three largest banks collapsed after making risky overseas loans. The unemployment rate shot up from less than 2 percent to more than 8 percent -- tame by some European standards, but a disaster for this nation of about 325,000 people. Even worse, per capita income fell from nearly $60,000 to $33,000.

Icelanders responded by doing little. This is the most isolated nation on Earth, and outside of manufacturing aluminum and fishing for cod, there's not much moneymaking activity available. The government makes sure that Icelanders pay for their free health care and retirement entitlements by heavily taxing just about everything. For example, gas is taxed at just under two bucks a gallon.

On the positive side, Icelanders do have cheap heat. This is a volcanic island, and geo-thermal energy means the average Icelandic household pays about $100 a year to keep warm. Heat, of course, is vital. They don't call it Iceland for nothing.

Renewable energy and a pristine environment are Iceland's strong suits. The market economy is its weakness.

Many Icelanders emigrate in order to make more money. There is a shortage of doctors here, which frustrates the national health care system. Physicians are paid poorly compared to most of the industrialized world, so some doctors split as soon as they have their certification. The ones who stay do so primarily out of patriotism.

The brain drain continues in business. With a high income tax, a whopping 25 percent value-added tax (7 percent on food and alcohol) and levies on most everything else, it is difficult to accumulate wealth. Many Icelanders don't see that as a problem because the government does take care of their essential needs. But if you want a Spring Break in Bermuda, you have to have cash. Icelanders don't have much to spare.

I did not see much poverty in Iceland or much conspicuous wealth, either. Most folks live in small homes, drive reasonable cars, dress neatly and speak English (compulsory in schools). On the weekends, drinking is a national pastime despite the high cost. But that's not much different from many other places.

Iceland has managed to flatten out its society, so most folks have pretty much the same circumstances. The very ambitious leave; the others seem satisfied to live under a security blanket, breathing in the clean air and enjoying a relaxed culture.

Obama wants to squeeze some of the excess out of America, and to some extent, Iceland can show him the way to make that happen. But for me, the challenge of life is competing and developing your potential to the fullest.

No way I could ever do that in Iceland. And President Obama couldn't have done it, either.
Click to expand...
 
Green, green, our world is green, green is our world...,

Everybody has heard about Solyndra and the many other failures of the DOE green energy grant and loan program replete with scandalous political paybacks to Obama supporters. Now there's another one. It involves the largest single loan guarantee of the entire $16 billion program, a current Cabinet Secretary and a former Chief-of-Staff to Vice-President Joe Biden.

BrightSource Energy spent two years and half a million dollars lobbying the Obama Administration to approve a $1.6 billion loan guarantee for the gigantic Ivanpah solar-power plant in California's Mojave Desert. Facing what the company called a "do-or-die deadline" in early 2011, BrightSource pulled out all the stops and further leveraged their considerable political connections to the max.

Bernie Toon, former Chief-of-Staff to Joe Biden in the Senate, was hired to ramp-up lobbying efforts with top Administration officials. On March 9, 2011, just days after being hired, Toon escorted three BrightSource executives to the White House for a meeting with Alan Hoffman, according to a Wall Street Journal investigation. Hoffman was Deputy Assistant to the President and Deputy Chief of Staff to the Vice-President according to White House personnel reports.

On March 15, there was a meeting with officials at the White House's Office of Management and Budget.

BrightSource also leveraged the influence of company Chairman John Bryson by sending a "proposed letter" to the DOE green-energy loan program director, Jonathan Silver, threatening to call on Bryson's close personal friend White House Chief-of-Staff William Daley for intervention. Silver apparently got the message, and within hours Silver sent an email saying there was no need for Bryson to contact Daley. "Mr. Silver assured BrightSource that its deal was 'on track'" according to the WSJ.

The $1.6 billion loan guarantee was approved on April 5, and Toon's lobbying contract ended. He clipped a cool $40,000 for barely a month of his service. The next month, May 2011, Obama nominated John Bryson to be Secretary of Commerce. Bryson recently took a medical leave of absence after being involved in two hit-and-run accidents in southern California.

Regardless of all the meetings and influence peddling at the highest levels, the White House maintains that the DOE made the BrightSource loan guarantee decision "based on the project's merits" completely independent of White House pressure or political considerations.

But, they also made sure that the DOE's John Silver "didn't respond to messages seeking comment" by the Wall Street Journal about this latest messy disclosure of how business really gets done in the Obama White House.
Click to expand...
http://finance.townhall.com/columni...nce_peddling_with_a_shade_of_green/page/full/
 
On being a Rasta Rothbardian

For Frizzle-Fry (and vette who will get a good series of laughs out of it):

Modern Day Fairy Tale of 3 Economic Wizards (Except It's True)


Once upon a time (today), in a land not so far away (USA), there lived a trio of economic wizards (economists), whose names shall remain anonymous (Paul Krugman, Greg Mankiw, Ben Bernanke).

A fourth wizard, Murry Rothbard, is no longer among the living but resides in the netherworld.

The above wizards seldom agree with each other because they come from competing schools of wizardry.

Three Schools of Economic Wizardry

Keynesian School of Fiscal Voodoo and Witchcraft
Monetarist School of Monetary Voodoo and Witchcraft
Austrian School of Sound Money, Sound Economic Principles and Common Sense.

"Dark Arts" Wizardry

The first two wizardry schools belong to a class of wizardry promoted to aspiring wizards as the "Dark Arts".
Click to expand...

Read the rest here:
http://globaleconomicanalysis.blogspot.com/2012/06/modern-day-economic-fairy-tale-except.html
 
Keynesian theory worked just fine in the last recession, despite AJ's attempts to spin it otherwise ("voodoo").
 
WINNING!

http://www.downinthevalley.com/images/product/medium/164228.jpg

mercury14 said:
While you're at it, could you come up with a plan to cancel out America's nigger amnesty policy? And who gave Pocahontas and her drunk-ass tribe citizenship?
Click to expand...

Merc’s Day Alt:
http://forum.literotica.com/showthread.php?p=33735857&highlight=physician#post33735857
The lying
http://forum.literotica.com/showthread.php?t=800325

Throb thread:
http://forum.literotica.com/showthread.php?t=745068
 
mercury14 said:
And don't EVER bitch about me trolling you as long as you have that willfully context-manipulated quote of mine in your signature. As long as you have it up there you'd best plan on being relentlessly trolled every day on Lit. Your choice. Either way is fun for me :)
Click to expand...
Looks to me like his signature is just a phone number from about 1979.
 
Maybe I should have used the word cataclysm...

George Osborne made a rather extraordinary pronouncement at the Mansion House last week. Just before presenting his latest plan to stimulate growth (or, as the headline writers say, “kick-start the economy”), he stated firmly: “We are not powerless in the face of the eurozone debt storm.” The grim defiance of his tone seemed to suggest that he expected most people to have concluded precisely the opposite. Presumably he and the Prime Minister have decided that it is better politics to insist that they are not helpless bystanders in the global economic cataclysm, even if that makes it incumbent upon them to produce home-grown solutions.
Click to expand...



mercury14 said:
While you're at it, could you come up with a plan to cancel out America's nigger amnesty policy? And who gave Pocahontas and her drunk-ass tribe citizenship?
Click to expand...
 
These are rather startlingly different ways of addressing the impasse but they actually point to the same problem – and it is bigger than the euro disaster, although that is the clearest and most acute manifestation of it. The economy is now beyond the control of national governments, and therefore outside the remit of democratic politics. It has become truly global, and thus a law unto itself; nation states have gone broke in their attempt to feed its gargantuan appetites for consumption and debt. The remedies for this began in panic and are now ending in delusion: first the banks went bust and were bailed out by governments; then the governments went bust and needed to be bailed out by – whom? International funding agencies which get their cash from – where? From central banks which will have to print gigantic amounts of money to replace all the money that simply disappeared in the bad debt that bankrupted the banks in the first place. And if we all agree to accept the illusion that this newly printed cash has actual value – if we all clap really hard and say that we believe in fairies – then the whole show can get back on the road and we will be rich again.
Click to expand...
http://www.telegraph.co.uk/news/wor...st-is-beyond-your-control-George-Osborne.html


Merc’s Day Alt:
http://forum.literotica.com/showthread.php?p=33735857&highlight=physician#post33735857
The lying
http://forum.literotica.com/showthread.php?t=800325
 
But what will be required is a world-wide agreement to participate in the illusion. It will rely on every country, and every government, and every electorate, being prepared to say: “Wealth can come from thin air. It doesn’t need any basis in real income or assets to make it viable.” If the population or the political leadership of one country (Germany) insists that money must be earned before it is spent, then the game is up and Tinker Bell dies. What has been happening for the past year – and will continue to happen at the G20 summit in Mexico tomorrow, whichever way the Greek election goes, is the browbeating of Angela Merkel into playing “let’s pretend”. We know now that she will not do it. She may make small concessions – baby steps in the direction of debt-pooling or Eurobonds – but the conditions and the guarantees will have to be there. Reality will always be asserted. And her country supports her in this with overwhelming approval ratings. Indeed, her population would not permit her to relent, even if she were inclined to do so (which she is clearly not). The Germans know better than anyone where it ends when you tell lies about the value of the currency.
Click to expand...

;) ;)
 
Byron In Exile said:
I don't know about that.

Many of them don't even know Spanish.

They'd be lost in Mexico.

And you really can't say it was their fault if they were brought here when they were underage.
Click to expand...

When they turn themselves in for their work visas, should we arrest their parents or put them on the path to citizenship?
 
Barack Obama doesn’t have George W. Bush to kick around anymore. At least not credibly. Sure, he will continue to argue that he inherited such a mess that his own policies can only be regarded as a smashing success. But it’s been four years since the patient was turned over to the new president for treatment, and the economy’s stubborn failure to recover its robustness tells us something about the efficacy of the Obama medicine. Which makes it increasingly difficult for him to continue to play the blame-GWB game. So Obama has found a new cause of falling growth and stubbornly high unemployment: Europe.

Now, no one can argue that our European friends are paragons. They have fiddled while Athens burned; done too little too late to save Spain’s financial system; forced an exodus of talent such as Ireland hasn’t seen since the potato famine (I exaggerate); replaced democratically elected governments in Greece and Italy with “technocrats”; issued a plethora of communiqués that amused but did not calm the markets; and adopted policies that have driven deficits up by stifling growth. Plenty of stuff to warrant a presidential j’accuse. Except for two things: The American pot is ill-placed to call the European kettle black, and the president’s lack of personal support from his colleagues at the G7, G20, and other meetings makes him a less-than-ideal policy salesman. More important, the president’s attempt to set Europe up as the new fall guy for his failed policies​—​besides Bush, other alibis have included supply chain interruptions due to Japan’s tsunami​—​seems, shall we say, lacking in empirical support.

Europeans are disinclined to accept American advice for two reasons. First, our deficit exceeds that of the eurozone as a whole, and according to the latest studies by the Congressional Budget Office, we are in danger of incurring so much debt that economic growth will be well-nigh impossible. Hardly a model to which Europe should aspire. When Treasury Secretary Timothy Geithner tried to advise Europeans to step up borrow-and-spend, he was met with scorn. “It’s always much easier to give advice to others than to decide for yourself,” German finance minister Wolfgang Schäuble announced to the press, a thought usually expressed in the privacy of a conference room. Second, our political gridlock makes the slow-moving decision process of the eurocracy seem speedy, and our partisan feuding the acrimonious Germany-versus-everyone-else circus in Europe a lovefest. Obama’s pleas to the Europeans to speed up decision-making are, to put it mildly, lacking in credibility.

On a more personal level, Obama has trouble getting a hearing from his European counterparts, I am told by attendees at various G7, G8, G20, and G-whatever meetings. He stands aloof from them, a man apart in gatherings of politicians who are by instinct flesh-pressers. Reliable informants tell me that his colleagues at these meetings would at times do George W. Bush a favor when he needed one for domestic political purposes​—​they liked him even if they found some of his policies insufficiently pacific.

Obama enjoys no such advantage. This is the man who couldn’t get the Olympics for his hometown of Chicago, and who was treated with contempt by China, and ignored by other nations at a meeting in Denmark when he sought some progress on global warming to advertise to his green constituents. This is also the man whose partner in a diplomatic reset, Vladimir Putin, said he was too busy to attend the G8 and NATO meetings at which President Obama served as host, and then found time between harassing dissidents to hop over to Beijing for a round of meetings.

The president’s lack of standing with his European counterparts is unfortunate. With Germany so far sticking to its austerity über alles policy, an American voice calling for more emphasis on pro-growth policies would be an important counterweight. Never mind: The Europeans will have to work that out with German chancellor Angela Merkel, and persuade her that hardworking Germans should transfer more of their income and wealth to the rest of Europe​—​a task made more difficult by French president François Hollande’s decision to roll back one of Nicolas Sarkozy’s reforms and lower the retirement age for many workers from 62 to 60 years, while Germans are expected to remain in the traces until 65-67 years of age.
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http://www.weeklystandard.com/articles/buck-stops-over-there_647321.html
 
I love how all those WWE "reporters" on MSNBC talk about how we need more government workers. WTF this is what we DON'T need.

We must fire 47.2% of all government workers! Take back our money from the terrorist aka government pension "system" and use that money to create jobs and invest in technology
 
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