It's too late to tell the truth. Soon the toilet will be flushed, there will be very few survivors. The deflation will cause these ****ers to eat each other.

Commentary from the all-is-well crowd now centers around how unimportant Greece is. Today I heard this gem: "The GDP's of Greece & Portugal together are about the same as New Mexico's."

The canary just died. The miners are next.

Typoed "abroad." Normally I won't say anything, but to have an error with the last word is rather obvious. Just hate to see a good article underminded like that.

Just caught up on the two Blogtalk shows I was behind after going on vacation. Keep up the good work, Karl.

I was hoping that Thompson Twin song was Hold Me Now...what Greece is hoping we do.

Quote:

The time has come to face reality gentlemen, before it forces recognition upon you - both here and abroad.

With respect, that time is gone. That train pulled outta here. She's long gone.

The elite of the entire western world is in thrall to Oprahism.

They've lost touch with reality.

Quote:

Commentary from the all-is-well crowd now centers around how unimportant Greece is. Today I heard this gem: "The GDP's of Greece & Portugal together are about the same as New Mexico's."

If true that's part of the problem, I find that hard to believe though. Greece and Portugal combined have 10X the pop. of New Mexico.

EU to Set Up Fund to Prevent Spread of Greek Crisis (Update1)

May 8 (Bloomberg) -- European leaders agreed to set up an emergency fund to halt the spread of Greece’s fiscal woes, seeking to prevent a sovereign debt crisis from shattering confidence in the 11-year-old euro.

Jolted into action by the sliding currency and soaring bond yields in Portugal and Spain, leaders of the 16 euro countries said the workings of the financial backstop will be hammered out before the markets open on May 10.

“We will defend the euro, whatever it takes,” European Commission President Jose Barroso told reporters early today after the leaders met in Brussels.


http://www.bloomberg.com/apps/news?pid=2....

That Ticker gave me chills. Thanks Karl.

Quote:

(remember, just one year ago you thought you stabilized the entire system and now we have nations at risk of failure, not just banks!)

Dang. We are so screwed.

Evey Hammond: "...artists use lies to tell the truth, while politicians use them to cover the truth up." - V


Read My Sig.

It is just five months into the new year and these are our disasters: mine explosion: 19 dead so far, flooding ( pick your place) , oil explosion: Gulf of Mexico untold dead, financial crisis of the world , pick your nation ( put USA at top of the list, Terrorists attacks both domestic and foreign, joblessness ( giving tax cuts to outsource to cheaper labor countries) converting a country from manufacturing to service industry country, and the list goes on and to numerous to list.


None of these disasters were accidents they were maliciously caused by deregulation, leverage, repeal of Glass-Segall, tax cuts unpaid for,wars unpaid for, inventing financial products of use to them to take your money.

The Lawmakers who advocated and sponsored the bills for the aforementioned were WRONG...but will they admit to it?? Will you make them tell the truth about what they have done to this country?? Will you let them blame others for their foibles?? Will you vote your Congress person back into office because they served you so adequately or you just like them??

Remember when they wanted to pass these bills they asked. "Are you will us or against us??"


Will you vet each Congress person before voting for them even if they are of your party??

What goes up must come down.

The bankster boyz in USA might be getting a tad nervous(Nah--they now know how to spell BAILOUT):

Quote:

---More recently, Wells Fargo reported that JPMorgan -- the second largest US bank -- has exposure to the PIIGS totaling 28% of its Tier-1 capital. For Morgan Stanley, that risk is a whopping 69% of Tier-1 capital.---Pete Grant

How precious is it that WF is reporting on JPM. The delicious irony. Anywho---Gen's brevity is admirable, per the following:

1. Gen's health care bill four points, couple of pages. Administration's bill >2000 pages.
2. Gen's Greece/defend the Euro solution:

Quote:

---The solution is simple. I offer up the following three point plan:

1.Stop lying
2.Stop lying
3.Stop lying---

Watch the invisible hand of the Fed., and always follow the money.

BTW there is no continuity in this post, the writer is wandering in a cerebral wilderness, so therefore said author wanted to point out Rep. Grayson's usage of Ross Perot like flash cards to explain that the Fed. owns the Red Roof Inn, and that Maiden Lane III is not a country singer. Eleven minutes well spent per advice of BB69.

http://www.youtube.com/watch?v=pE3oiKuU8....

Congressional crowd a bit thin---No? Whoa---that you there Nancy?

Can you tell that I am really enjoying the emoticoms---remember no continuity, and a fine weekend to all!! Hope they can get the oil flowing into car gas tanks, not the Gulf.

But what if they can't stop lieing? What if the consequences of the truth is way way to painful bear?

Hi all,
Some Plato quotes I find are relevant to this Ticker and the current climate:

Truth is the beginning of every good to the gods, and of every good to man.

We can easily forgive a child who is afraid of the dark; the real tragedy of life is when men are afraid of the light.

Good people do not need laws to tell them to act responsibly, while bad people will find a way around the laws.

There is nothing so delightful as the hearing or the speaking of truth. For this reason, there is no conversation so agreeable as that of a man of integrity, who hears without any intention to betray, and speaks without any intention to decieve.

Strange times are these in which we live when old and young are taught in falsehoods school. And the person that dares to tell the truth is called at once a lunatic and fool.

They deem him their worst enemy who tells them the truth.

Democracy passes into despotism.

And isn't it a bad thing to be deceived about the truth, and a good thing to know what the truth is? For I assume that by knowing the truth you mean knowing things as they really are.

Hmm. I think I am outside the posting hours, but will type anyway.

To Genesis: I have your back. Period.

Okay. I think this says it all. From The Ticker.

"Confidence comes from truth'

Exactly. Greece is basically broke. So are we. I don't like to even say that, but the numbers are the numbers. There is no way to pay our debts without extreme hardship. It's grade school math.

Assuming that is true, what do we do? Well, we tell our lenders to go blank themselves.

The problem is everyone is lying. Kramer is lying. Kudlow is lying. Either that or he is stupid. I just read Doug Nolands post for the week on the Prudent Bear site (No one has been on this bubble longer that I know of with Weekly comments) and he mentioned the yen going up 6% against the Euro in a few hours. Seems we have a double whammy going on, outfits without money to pay what they now owe due to using the Japanese carry trade. The problem is these guys believe in their on invincibility, so why recognize the truth. We are about to see the rug pulled out from under the entire group, as mathematics will defeat any kind of scheme every time. It is not as easy to create money as the fraud artists seem to believe. Strange that those that create the money have a hard time coming up with it when the chips are down. This is because they don't have what they have already put out.

All these guys have is their inflated assets and when they deflate, their checks aren't good any more. The world could go on letting them pretend they have money to clear their checks, but the problem is they insist on living it up on the carte blanche given them. This is true of Greece and it is true of Goldman and to some extent portions of every country in the world and many of the people. Central banks only exist because they provide government with easy access to money or should I say credit. It is one thing for the country to use credit. It is another thing for them to borrow from those that already are broke. In this form of doing business, one blackmails the other to the expense of the other people not involved.

Someone said, "If the masses knew how the banking system worked, there would be a revolution by sunrise". Whether it is gold backed or just collateral backed, banking involves creating what isn't. By that, I mean its there, but it isn't there. This is how credit crisis' get started, as they are pretending to exchange what isn't there in the first place and eventually it becomes evident that one party cannot deliever on what they owe that isn't there and their losses then become the losses of the entire system. If the general public, whose deposits are insured ever, realized that only they can pay the losses the deposits all hell would break loose. The government owes the money, but all the money is owed back to the government. If the government had the Fed print out the entire money supply, it would increase the supply of money one bit, as all is there is all that there is.

We all know liars. You probably have a couple relatives or co-workers who you know not to trust a single thing they say.
Do you expect them to suddenly change tomorrow?

-- Didn't thinks so. --

These guys are no different. They probably were liars before they hit kindergarten and will die with a lie on their lips. Flush the toilet folks.
These turds won't look any better by waiting.

Umm so does this mean that CDS stands for Controlled Demolition Swap?

I'm sick of the lying too, but its been going on for so long...

Reminds me of "A few Good Men", you know the quote:
"Truth. You can't handle the truth."

The USA taxpayer will bailout Greece. I thought were broke. How will this work?

But if they told the truth, the current politicos might not get re-elected and the bankers will lose their bonuses and their heads. Better to kick the can and stock up that villa on those far away islands.

I agree, i'ts too late for the truth in the EU, they will go nuclear, it's just a matter of time.

We started with a segment of society (this was the "sub-prime crisis" in 2007, went a level up for all mortgage (alt-a, prime) , next were the banks, now the sovereign.

The next level we will need help from must be global and after that extra terrestrial.

and more seriously: It is Europe now (just starting) - I wonder which Asian country will be the first when this move east.

I'd say GB is next after or in conjunction with the EU.