June 29, 2012

"Consistent With a Weakening Growth Backdrop," And Other Euphemisms For "The Economy Is Contracting"
— Ace

Via @gaypatriot, consumer spending is the weakest in six months.

Consumer spending stalled in May as stagnant wages and slackening employment held back the biggest part of the U.S. economy.

Purchases were little changed after a 0.1 percent rise the prior month that was smaller than initially reported, according to Commerce Department figures issued today in Washington. Another report showed household sentiment dropped this month to the lowest level of the year.

In some possibly good news, Europe says it's had a "breakthrough" on its finance crisis.

Before quoting it, I'll just mention the old truism that diplomats only announce success, because a diplomat defines "success" as "an agreement." They're not in the business of solutions, they're in the business of agreement.

And yes, this is a negotiation among sovereigns, so it is a diplomatic effort.

And they've struck an agreement.

But I don't see how any agreement changes the basic math: Most of Europe is spending more than it is willing to pay, backstopped by German wealth, and the Germans, for obvious reasons, don't want to continue subsidizing the rest of Europe.

But they have an "agreement."

Under the deal, European leaders agreed to create a single supervisory body to oversee the eurozone's banks which could use the single currency area's rescue funds, the European Financial Stability Facility or European Stability Mechanism, to aid banks directly without adding to governments' debt.

Without reading the details: This would mean Germany is funding an emergency stabilization fund, which is then used to recapitalized the failing, near-bankrupt banks of the PIIGs.

And that will tide them over... until the next time they need to borrow a few dozen billion on Germany's account.


Posted by: Ace at 07:48 AM | Comments (188)
Post contains 308 words, total size 2 kb.

1 Yes, and it has been "contracting" since 2008 contrary to all the lies they put out.

Posted by: Vic at June 29, 2012 07:49 AM (YdQQY)

2
Predictions on the status of the UE rate next week?

I'm gonna say it goes up 0.1 of a point.

Posted by: soothsayer at June 29, 2012 07:50 AM (G/zuv)

3 I'm really surprised the Germans aren't rioting.

Posted by: Tami at June 29, 2012 07:50 AM (X6akg)

4 Fans of Atlas Shrugged will instantly recognize this as the Steel Unification Plan.

Posted by: Cerebral Paul Z. at June 29, 2012 07:51 AM (cQhQZ)

5 Unfortunately, this may get Merkel kicked. 100% of the people in Europe are like 50% of Americans. They are so dependent - productivity will be hard to squeeze out of them.

Posted by: I am woman - so I can call it at June 29, 2012 07:51 AM (HOOye)

6 Obama : "We've decided to contract the economy to make it, uh uh, more efficient!  Yeah, that's it!"

Posted by: Chi-Town Jerry at June 29, 2012 07:51 AM (f9c2L)

7

Europe keeps kicking the can down the road.

 

Bu Europe is coming to the end of the road.

Posted by: rd at June 29, 2012 07:53 AM (9sUlj)

8

The Economy? How does that relate to John Roberts?

 

John RobertsJohn RobertsJohn RobertsJohn Roberts John Roberts!!

Posted by: CJ at June 29, 2012 07:53 AM (9KqcB)

9 Good news everybody - they fixed Europe! Hooray!

Posted by: Gristle Encased Head at June 29, 2012 07:53 AM (+lsX1)

10 Obama 2012 -- Hopeless Change!

Posted by: mallfly at June 29, 2012 07:53 AM (bJm7W)

11 The stocks were up across the board in Europe today. But, I won't believe anything, until at least a decade from now.

Posted by: I don't believe it at June 29, 2012 07:53 AM (HOOye)

12
I've seen predictions for 2ndQtr GDP ranging from 1.5% - 2.5%.

To call that anemic is being generous. GDP in that range from time to time is okay, but these anemic GDP figures are chronic -- like since Obama came along.

That ain't gonna cut it. We are living in the shitty '30's again and Obama is FDR II.

Meanwhile, in Europe...

Posted by: soothsayer at June 29, 2012 07:54 AM (G/zuv)

13 Europe has substantial problems that won't be covered by this fig leaf.

There is not enough liquidity to cover all the needs. Nor will austerity simply solve this by itself.

They are long term boned and anything else is wishful thinking.

Posted by: Exile at June 29, 2012 07:54 AM (ZClBI)

14 Boned.

Posted by: that guy that always thinks we're boned at June 29, 2012 07:54 AM (QupBk)

15 Contracting? What you mean to say is expanding at a less than positive rate.

Posted by: John Roberts at June 29, 2012 07:54 AM (4cRnj)

16 Even on Rasmussen Obama has gained 6 points on Romney in a week.  Considering Obama has had a helluva horrible week I am dumbfounded by this.

Do sane people actually intend to vote for this man?


Posted by: Bill Mitchell at June 29, 2012 07:54 AM (hlUJY)

17 Obamatax or the Obama Health Tax should be the new nomenclature.

Says John Roberts.

Posted by: Exile at June 29, 2012 07:55 AM (ZClBI)

18 look, you take a dozen agencies and combine them into one: letterhead and one envelope instead of twelve! Isn't that an improvement? No? Admit it, you hate Obama because he's black. And you hate Michelle because you're afraid of a strong woman.

Posted by: mallfly at June 29, 2012 07:55 AM (bJm7W)

19 Euphemism/Schmomism.  The economy is in the shitter...full stop....period.

Posted by: mpfs at June 29, 2012 07:55 AM (iYbLN)

20 Germans, for obvious reasons, don't want to continue subsidizing the rest of Europe.


Hell why not?  Here the damned red States are subsidizing the Blue States, especially CA.


How much federal tax money has gone into NYC and Detroit and how much money has gone into buy worthless CA bonds?

Posted by: Vic at June 29, 2012 07:56 AM (YdQQY)

21 Barack Obama is a stuttering clusterfuck of a miserable tyrant.

Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at June 29, 2012 07:56 AM (8y9MW)

22 Under the deal, European leaders agreed to create a single supervisory body to oversee the eurozone's banks which could use the single currency area's rescue funds

Wow, amazing, they agreed to create a slightly different layer of bureaucracy.

Problem solved!

Posted by: Waterhouse at June 29, 2012 07:56 AM (MySKM)

23 it really is bizarre. the Dems say, no it's not a tax, it's a penalty, Roberts says, no it's a tax and that's okay. Maybe the hidden message is, "people wake up and pay attention before it's too late"?

Posted by: mallfly at June 29, 2012 07:58 AM (bJm7W)

24 Our stimulus goes to 11!

Posted by: Europe at June 29, 2012 07:58 AM (QupBk)

25 3  I'm sure they'll begin "Nationalizing" any day now.  It's worked out so well in the past. 

Posted by: no good deed at June 29, 2012 07:58 AM (0lYad)

26 Jindal says "Hell NO!"
http://is.gd/jHIifm

Posted by: Zombie Mister Rogers at June 29, 2012 07:58 AM (lDz6c)

27 Tell everybody what they win, Monty!!!!

Posted by: Ward of the State #4559141A at June 29, 2012 07:58 AM (6ITq9)

28 As soon as we get high speed rail and when Obamatax kicks in, our economy will flourish!

Free Volts for everyone!

Posted by: PJ at June 29, 2012 07:59 AM (DQHjw)

29

WhooHoo!! Belgium here we come!!

Posted by: dananjcon at June 29, 2012 07:59 AM (eavT+)

30 Tell everybody what they win, Monty!!!!

My only silver lining yesterday was seeing Monty back in the comments.

Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at June 29, 2012 08:00 AM (8y9MW)

31
It appears that "Greek Woes" and "EU Worries" have taken a vacation with Eric Holder.

But just like Eric Holder, the EU is only putting off the inevitable.


Posted by: soothsayer at June 29, 2012 08:00 AM (G/zuv)

32 Admit it, you hate Obama because he's black. And you hate Michelle because you're afraid of a strong woman.

Posted by: mallfly at June 29, 2012 12:55 PM (bJm7W)

 

That's exactly why I hated Bill and Hillary Clinton.

Posted by: CJ at June 29, 2012 08:00 AM (9KqcB)

33
"The Economy is Contracting Faster and Harder than Sandra Fluke's Uterus After Taking a $3,000 RU486 Pill"

Posted by: Krebs v Carnot: Epic Battle of the Cycling Stars at June 29, 2012 08:00 AM (HmCnI)

34

Oooh, they've created a supervisory body. Problem Solved!

Posted by: Gabriel Syme at June 29, 2012 08:00 AM (g84Si)

35 >>Do sane people actually intend to vote for this man?

If you make any part of your living off federal dollars he's a rational choice...except for people enlisted in the military or their suppliers, but they're outnumbered by people getting federal money in other ways.

Posted by: HeatherRadish™ at June 29, 2012 08:00 AM (ZKzrr)

36 Eventually you run out of government cheese.

Posted by: toby928© at June 29, 2012 08:01 AM (QupBk)

37

Uh... folks???

 

They just created a Europeon Fed Res Board...  They will have the power to print Euros not tied to any Government, and then, like the Fed, use them to prop up Banks.

 

Or, in other words... they just created the mechanism for Quantitative Easing i Europe... ie ... the devaluing of the Euro to ease the actual value of the debt already incur'd.

Posted by: Romeo13 at June 29, 2012 08:01 AM (lZBBB)

38

Booda-Pesh ish  luvlee thish time of yeer.

Heheh..Heheh..Heheh..

Posted by: Gold Member at June 29, 2012 08:02 AM (eavT+)

39 We should also have a post on the article linked in #26.

Scott Walker is apparently doing the same thing.  We need to encourage that behavior.  I would love to see the Red States absolutely refuse to comply, and move to protect their own residents who also refused to comply.

Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at June 29, 2012 08:02 AM (8y9MW)

40 Do sane people actually intend to vote for this man? Posted by: Bill Mitchell at June 29, 2012 12:54 PM (hlUJY) -- at least we are still 4+ months out

Posted by: I am woman - so I can call it at June 29, 2012 08:02 AM (HOOye)

41 >>Free Volts for everyone!

Or pay a tax if you don't take one!

Posted by: HeatherRadish™ at June 29, 2012 08:02 AM (ZKzrr)

42 Even on Rasmussen Obama has gained 6 points on Romney in a week. Considering Obama has had a helluva horrible week I am dumbfounded by this. Do sane people actually intend to vote for this man?

Posted by: Bill Mitchell at June 29, 2012 12:54 PM (hlUJY)

 

It doesn't pay to follow the polls this far out from the election.

 

Does that sound excuse-makingy? A little. But true.

Posted by: CJ at June 29, 2012 08:02 AM (9KqcB)

43

They just can't give up on that Euro thing. Merkel, who cares about that woman?

She's done this to herself, and the rest of Germany is rooting on even worse.

They are further along the curve than we are, by a few years.  This is where we will be soon.

 

Barack, what a tool. And yes, he could very well get re-elected.  Why, just a few days ago, we were ALL sure that the SCOTUS (or SCROTUM) was going to overturn Obama's ACA.

Posted by: Reader C.J. Burch writes.... at June 29, 2012 08:03 AM (RFeQD)

44

"The stocks were up across the board in Europe today."

 

They're up here today as well.  So what?

 

IMO, the stock markets have become completely decoupled from real life.  It's now a massive online casino where superfast computers move massive piles of electronic money around to make slightly mess massive piles of money when a stock moves a quarter of a point.

Posted by: Jaws at June 29, 2012 08:03 AM (4I3Uo)

45

Maybe the hidden message is, "people wake up and pay attention before it's too late"?

Umm, 'before' - perhaps you have a different understanding of the word?

Posted by: Gabriel Syme at June 29, 2012 08:03 AM (g84Si)

46 The banks can loan us more cheap money again?

Awesome!  Set treasury for Maximum Spend.

Posted by: PIIGS at June 29, 2012 08:04 AM (SY2Kh)

47

I forget where I read it but someone did the math and pointed out that Germany can't actually fix everything for everyone now, let alone ad infinitum.

 

I'm still trying to figure out why the rest of Europe thinks "Help us, Germany, you're our only hope" is a Good Idea.

 

btw, still waiting for the minions to deliver me the deed to Lesbos.  *taps foot*

Posted by: alexthechick - SMOD 2012 at June 29, 2012 08:04 AM (VtjlW)

48 Free Volts for everyone! Posted by: PJ at June 29, 2012 12:59 PM (DQHjw) ------ Hehe. I love all the articles where people are complaining their landlords won't cover the electricity costs for the plug-ins. Either they flat out refuse, or are charging them an extra fee. LOL, yes.

Posted by: I am woman - so I can call it at June 29, 2012 08:04 AM (HOOye)

49 My only silver lining yesterday was seeing Monty back in the comments.

Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at June 29, 2012 01:00 PM (8y9MW)


Where was that?  And was it Monty or a sock?

Posted by: Vic at June 29, 2012 08:04 AM (YdQQY)

50

Resolved,

 

1. There is a huge fucking hole in the hull.

 

2. The watertight bulheads are being topped by seawater, one by one.

 

3. The ship is not unsinkable after all.

 

4. We are all going to die

 

Please join the representatives and leaders of all our nations in applauding this historic agreement.

Posted by: RMS Titanic Diplomatic Summit at June 29, 2012 08:04 AM (w41GQ)

51

After heading up the Jerry Springeresque "walk off the stage" move yesterday. Today Sheila Jackson Lee introduced a house resolution to, in essence  - dis the House.

Posted by: Hal Burton at June 29, 2012 08:05 AM (iYvMQ)

52 37... German's will  LUUUUVE that almost as much as they loved the reparations from WWI.  How good are the modern German tanks again?

Posted by: catman at June 29, 2012 08:05 AM (YKUmW)

53
War will break out soon in Europe.

But it will be a "green" war and fighting will be limited to 30hrs a week.

Posted by: soothsayer at June 29, 2012 08:05 AM (G/zuv)

54


My only silver lining yesterday was seeing Monty back in the comments.

**

That was nice indeed.

Posted by: dananjcon at June 29, 2012 08:06 AM (eavT+)

55 Three weeks off in August, where we all go to Spain to get drunk

Posted by: catman at June 29, 2012 08:06 AM (NYdB8)

56 But it will be a "green" war and fighting will be limited to 30hrs a week.

Posted by: soothsayer at June 29, 2012 01:05 PM (G/zuv)


==============


And everyone gets 6 weeks paid vacation.

Posted by: Tami at June 29, 2012 08:06 AM (X6akg)

57 War will break out soon in Europe.

But it will be a "green" war and fighting will be limited to 30hrs a week.

Posted by: soothsayer at June 29, 2012 01:05 PM (G/zuv)

**

With union-mandated coffe and lunch breaks.

Posted by: dananjcon at June 29, 2012 08:06 AM (eavT+)

58 Where was that? And was it Monty or a sock?

I'd have to go back and look, but the comments sounded (read?) like Monty, so I'm presuming it was really Monty.

Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at June 29, 2012 08:06 AM (8y9MW)

59 I assume that "single supervisory body" speaks German and has the title of Field Marshall.

Posted by: Jean at June 29, 2012 08:06 AM (WkuV6)

60

"Even on Rasmussen Obama has gained 6 points on Romney in a week. Considering Obama has had a helluva horrible week I am dumbfounded by this."

 

Considering Roberts just legitimized Obama's signature achievement in office, it shouldn't come as a surprise.  Get ready for a re-energized Dem base and an MFM push to swing the swingers. 

 

By the time low info voters realize they've been fucked, it's going to be way too late.

Posted by: Burn the Witch at June 29, 2012 08:07 AM (rX1N2)

61 War will break out soon in Europe.
But it will be a "green" war and fighting will be limited to 30hrs a week. Posted by: soothsayer


Vee vill find you wis our solar-powered nightscopes!
(Pew-pew ... click)

Posted by: weft cut-loop [/i] [/b] at June 29, 2012 08:08 AM (famk3)

62 "Weakening Growth Backdrop"? Hey, is that the same as a "Strengthening Non-Growth Backdrop"???

Posted by: Ward of the State #4559141A at June 29, 2012 08:08 AM (6ITq9)

63 btw, still waiting for the minions to deliver me the deed to Lesbos. *taps foot*

Be patient and wait until Germany puts it's foot down and cuts off the cash flow, kicking Greece off the Euro and back to the Drachma. 

That motherfucker will be so devalued that you'll be able to buy Lesbos with a sack full of shiny beads and wool blankets.

Posted by: Hollowpoint at June 29, 2012 08:08 AM (SY2Kh)

64 Argh.  A Fauxcahontas ad just popped up on the main page.

Posted by: Jane D'oh at June 29, 2012 08:09 AM (UOM48)

65 Vic, Monty posted at least a couple times in this thread: http://minx.cc/?post=330521

I think comment 224 is his first one.

Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at June 29, 2012 08:09 AM (8y9MW)

66 57, the Euros could sustain a slap fight for 30hr, much less a war.

Posted by: Jean at June 29, 2012 08:10 AM (WkuV6)

67 IMO, the stock markets have become completely decoupled from real life. It's now a massive online casino where superfast computers move massive piles of electronic money around to make slightly mess massive piles of money when a stock moves a quarter of a point. Posted by: Jaws at June 29, 2012 01:03 PM (4I3Uo) ==== I agree 100% (that is why I also said - somewhere in this thread - that I won't believe anything until at least a decade out.) I always argue with people about our stock numbers in the US. Everyone tries to link them to the economy is doing well. It's not even close. Maybe it used to be. But, with ETF's, currency exchanges, basically international companies - their reach, and internationally bundled funds, it does not directly relate to our economy. But, I always get dumped on over at the WSJ for even suggesting it means nothing in relation to our own economy. I was simply pointing it out - and the WSJ linked the positive numbers to the "agreements."

Posted by: I am woman - so I can call it at June 29, 2012 08:10 AM (HOOye)

68 After heading up the Jerry Springeresque "walk off the stage" move yesterday. Today Sheila Jackson Lee introduced a house resolution to, in essence - dis the House.

Posted by: Hal Burton at June 29, 2012 01:05 PM (iYvMQ)

**

Much as I hate to say it- O'reilly said it best last night, "The democrats walking out of the house yesterday was them walking out on Brian Terry" (para)

Posted by: dananjcon at June 29, 2012 08:10 AM (eavT+)

69 couldn't, crap

Posted by: Jean at June 29, 2012 08:10 AM (WkuV6)

70 40 Do sane people actually intend to vote for this man?

Posted by: Bill Mitchell at June 29, 2012 12:54 PM (hlUJY)

No I don't I get it. However I never got it. I try to be positive but I fear he will win in November. They called Reagan the Teflon president. Nothing seems to stick to this guy. Nothing stuck to Reagan because people were doing well. Now everything is shit and his numbers are still good. It is very scary.

Posted by: Long Island at June 29, 2012 08:10 AM (kzp9t)

71 That motherfucker will be so devalued that you'll be able to buy Lesbos with a sack full of shiny beads and wool blankets.

 

Posted by: Hollowpoint at June 29, 2012 01:08 PM (SY2Kh)

 

I wonder what I can get for this stupid robotic owl.

Posted by: Perseus at June 29, 2012 08:11 AM (rX1N2)

72 The unspoken wound to the economy is regulation.

In my business there are 4 regs that I  am aware of that are a drag on hiring-

1-OSHA is now regulating residential roofing. The fines for what was common and legal practice  are per man per violation per day. In other words the more workers the greater the fine.

2- EPA is now regulating remodeling of homes pre 1978. To even be allowed to remodel these homes you must be EPA certified and use EPA certified practices and equiptment. The least you will spend on compliance is $1000. The fines for violations are per man per day per violation.

3- Hiring 1 worker pulls the owner operator into the workman's comp pool meaning paying twice the worker's comp for the first employee.

4- The contracts where prevailing wage rules must be followed have been expanded. I know this because the head of the local low income housing authority was begging for bids when all of her contractors bailed when told of the new rules.

Posted by: Typo dynamofo at June 29, 2012 08:11 AM (FU9ql)

73 IMO, the stock markets have become completely decoupled from real life. I donÂ’t think thatÂ’s true. I suspect that there are two major forces at work here: one, investors recognize that businesses will find it harder to succeed going forward; two, investors recognize that government will find it harder to maintain services without inflating the dollar. I think a lot of people are investing in the stock market for the latter: they donÂ’t know what else to invest in that will at least theoretically track inflation. Real Estate just went bust, goldÂ’s been made illegal in the past, and foreign economies are doing even worse than the United States. That is, if Microsoft is worth two hundred billion today, and tomorrow the dollar is worth half as much, then, everything else being equal, Microsoft will be worth four hundred billion tomorrow. The investment hasnÂ’t changed. So it might be irrational for investors to believe that we will not experience full economic collapse (i.e., that all else will in fact be equal). But it makes sense for the market to be up today when, two days ago, everyone was expecting a major government expenditure to be shot down yesterday.

Posted by: Stephen Price Blair at June 29, 2012 08:11 AM (QF8uk)

74 I miss Monty.  *sigh*

Posted by: Jane D'oh at June 29, 2012 08:11 AM (UOM48)

75 Brian Terry's family is going to be on with Megyn Kelly within the hour.

My heart just breaks for them.

Posted by: Jane D'oh at June 29, 2012 08:12 AM (UOM48)

76
The Germans in the new war won't round up any Jews.

Instead, the Germans will set up a Jew-offset Credit system just like Carbon Credit system to offset carbon emissions. This way nobody gets hurt but the Jews pay up for being Jews, and the environment is spared the oven emissions.


*I don't mean to make light of the Holocaust; I want to make fun of the Europeons and their silly socialism and their ongoing hatred for Jews.

Posted by: soothsayer at June 29, 2012 08:12 AM (G/zuv)

77 Thanks, I just found it

Posted by: Vic at June 29, 2012 08:12 AM (YdQQY)

78 Europe is spending more than it is willing to pay,

---

Paying one's bills is sooooo old fashioned.

Posted by: WalrusRex at June 29, 2012 08:12 AM (Hx5uv)

79 >>>Jindal says "Hell NO!"

Buckin for veep.

Posted by: MikeTheMoose Lite! 98% Anger Free! at June 29, 2012 08:13 AM (0q2P7)

80
German panzer divisions. Wind-powered tanks.

Posted by: soothsayer at June 29, 2012 08:13 AM (G/zuv)

81
Solar powered Luftwaffe


Posted by: soothsayer at June 29, 2012 08:14 AM (G/zuv)

82 Brian Terry's family is going to be on with Megyn Kelly within the hour.

My heart just breaks for them.

Posted by: Jane D'oh at June 29, 2012 01:12 PM (UOM4


According to that Demodick yesterday who voted to withhold information, all the Terry family wants is closure.  We'll see what they have to say.

Posted by: WalrusRex at June 29, 2012 08:14 AM (Hx5uv)

83 Brian Terry's family is going to be on with Megyn Kelly within the hour.

Damn. If it wasn't Brian Terry's family, now would be a great time for an "on with Megyn Kelly" joke.

Posted by: Ward of the State #4559141A at June 29, 2012 08:15 AM (6ITq9)

84 I was wondering why china was not mentioned in that linked piece. Here's some food for thought: "China pledged to invest in Europe’s bailout funds and sustain its holdings of euro assets, spurring gains in the currency and Asian stocks on optimism the region’s debt crisis will be overcome. “China will always adhere to the principle of holding assets of EU sovereign debt,” People’s Bank of China Governor Zhou Xiaochuan said in Beijing today. “We would participate in resolving the euro debt crisis,” he said, echoing comments by Premier Wen Jiabao yesterday. The remarks offer a carrot to European finance ministers, who are increasing pressure on Greece to deliver budget cuts in exchange for a second bailout. At stake for China is helping to stabilize the economy of its largest export market amid a global slowdown that has curtailed growth in Chinese shipments abroad." bloomberg news

Posted by: I am woman - so I can call it at June 29, 2012 08:16 AM (HOOye)

85 Any DFW Morons up near Legacy & the DNT?

For the first time in months, I find myself wanting company (that isn't my wife and kids) for lunch.

Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at June 29, 2012 08:16 AM (8y9MW)

86 Many abroad and here don't understand the fundamental change that their countries have gone through during the expansion of socialist programs.

Not only are there more people on some type of goverment handout but there ARE NO ALTERNATIVES.

If the spigot was turned off tomorrow there would not be sufficient productive positions available even for the able/skilled.

This is a fact that many conservatives seem to overlook (or their comments seem to indicate that).

We don't have the same economy we did say 40 years ago. Many jobs/positions have left the country never to return. The infrastructure necessary to support those positions isn't there.

There are types of manufacturing and production that no longer have physical plant anywhere in the US.

There are many positions that would be required that have no one skilled in them living in the US.

There is a minimal technological base and physical plant required to undertake manufacturing of most any product. Much of that has been lost over the last 30 years.

We can thank the unions for their aid in forcing this process along. Also our educational system which has consistently ignored the practical sciences and technologies along with their required subjects of basic chemistry, physics, basic science and hand eye coordination training (vo tech) for the chimera of a college degree. Let alone the fact that boys are marginalized, drugged and generally made to feel useless and unworthy while girls are praised, pampered and groomed to go on to college. Most of whom then proceed to work in some female field for 5-10 years then stop working to have children (nttatwwt. but all the time and money invested in women in college is then wasted. meanwhile men who continue to be the majority income producer are left to fend for themselves.)

We won't be able to just turn off the spigot and walk away.

Unless of course you want a Greece or Spain scenario. Germany will go that way also but for the opposite reason.

Posted by: Bitter Clinger and all that at June 29, 2012 08:16 AM (CP+yl)

87 economic stupidity is speading like a bad disease. leftists are the carrier.

Posted by: Fresh at June 29, 2012 08:16 AM (O7ksG)

88 Posted by: Long Island at June 29, 2012 01:10 PM (kzp9t)

How you doin'? 

We're everywhere.

Posted by: The Looters at June 29, 2012 08:16 AM (AXpz0)

89 Brian Terry's family is going to be on with Megyn Kelly within the hour.


Too bad she screwed up her hair.

Posted by: Vic at June 29, 2012 08:16 AM (YdQQY)

90 52 37... German's will LUUUUVE that almost as much as they loved the reparations from WWI. How good are the modern German tanks again?

Posted by: catman at June 29, 2012 01:05 PM (YKUmW)

Leopard II - same type as the Abrams and the Challenger II.  They have been selling them in the EU in a few different variants

Posted by: Mjölnir the banhammer at June 29, 2012 08:18 AM (Jls4P)

91 Argh. A Fauxcahontas ad just popped up on the main page.

Posted by: Jane D'oh at June 29, 2012 01:09 PM

 

Doesn't it cost the lying douche-bag money if we click on the ad?

Posted by: rd at June 29, 2012 08:18 AM (9sUlj)

92 The regional governors will have direct control over their territories. Fear will keep the local banks in line. Fear of this supervisory body.

Posted by: Grand Moff Merkel at June 29, 2012 08:18 AM (QupBk)

93 There are many positions that would be required that have no one skilled in them living in the US.

I work in mining. What you say is well underway. Within our lifetimes, resource extraction will be all but nonexistent in the United States.

Posted by: Gabriel Syme at June 29, 2012 08:19 AM (g84Si)

94 82 Brian Terry's family is going to be on with Megyn Kelly within the hour. ========== This has to be the ultimate nightmare for them. Not only is their son murdered - a brave man with integrity, who was doing what was right for his country. But, it was this country that let him down. And, the bastard POTUS and his regime will not only NOT take ownership, but won't even apologize. Liberals are so pathetically sick to the point that "the ends justifies the means" means just that, regardless of innocent lives.

Posted by: a disgrace at June 29, 2012 08:19 AM (HOOye)

95 “China will always adhere to the principle of holding assets of EU sovereign debt,buying European nations” People’s Bank of China Governor Zhou Xiaochuan said in Beijing today. “We would participate in resolving the euro debt crisis, own Europe too!”


Fixed that poor translation for ya.

Posted by: MikeTheMoose Lite! 98% Anger Free! at June 29, 2012 08:19 AM (0q2P7)

96 Sooo. Heather. Why didn't you plant . . . radishes?

(sorry)

Posted by: Bitter Clinger and all that at June 29, 2012 08:19 AM (CP+yl)

97 You guys get that countries like Spain and Ireland had budget surpluses before the financial crisis, right? I know you want to pretend like government spending is the problem because "cut government spending" is your solution to everything, but you know that's true, right?

Posted by: Paulie Carbone at June 29, 2012 08:19 AM (tyou3)

98 Megan Kelly has hair??

Posted by: dananjcon at June 29, 2012 08:20 AM (eavT+)

99 Megan Kelly has hair??

Of course she has hair, you need something to hold ...  err... nevermind.

Yes, she has hair.

Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at June 29, 2012 08:21 AM (8y9MW)

100 As far as I can tell, the entire G20 is creating Potemkin village economic projections for display until year end.  My guess is that they are doing it because they have a pretty good idea that if Romney wins, they won't be getting the bailout they want.  Merkel is done for, now.

Posted by: Vashta Nerada at June 29, 2012 08:21 AM (Z6meB)

101 #85 - have you had a DFW meetup?  I know someone in Aledo who might be interested.....

Posted by: the Butcher at June 29, 2012 08:21 AM (8g9qq)

102 Do you guys seriously want Bobby Jindal for VP? Have you seen the guy?

Posted by: Paulie Carbone at June 29, 2012 08:22 AM (tyou3)

103 The phrase "recapitalize" is used wrong continuously. A recapitalization means that assets (government bond holdings in the case of European banks) and bad debt (i.e. the money lent to the bank by its bondholders to purchase government debt) are marked down and or converted to new equity with existing equity holders wiped out. A recapitalization is a means of realigning the capital structure with the realities of the operations and assets. In the case of Europe, taking new funds and sticking them onto a banks balance sheet as new debt is not a recapitalization. It is simply a farcical exercise meant to extend the life of an insolvent institution.

Posted by: scofflawx at June 29, 2012 08:22 AM (IhBRY)

104 have you had a DFW meetup? I know someone in Aledo who might be interested.....

We did a few weeks ago.

We'll probably have another in early November.

Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at June 29, 2012 08:22 AM (8y9MW)

105 >>Sooo. Heather. Why didn't you plant . . . radishes?

Cannibalism?  Not my thing.  *heh*

Posted by: HeatherRadish™ at June 29, 2012 08:22 AM (ZKzrr)

106 Rep Issa has posted the details of the wiretap applications

Posted by: E Howad Hunt at June 29, 2012 08:22 AM (e8kgV)

107 Nazi uniforms dyed with naturally with fabric woven from sustainable bamboo. Sewed together by micro-credit financed,  fair trade woman focused NGO. Lets not forget jackboot made from humanly from vegan materials.

Posted by: Long Island at June 29, 2012 08:22 AM (kzp9t)

108 Some critter is trying to eat my potatoes. Luckily, the tubers are too far down still. I'm hoping it's just squirrels looking for buried nuts and not raccoons.

Posted by: toby928© at June 29, 2012 08:24 AM (QupBk)

109 Putzkrieg uber alles.

Posted by: WalrusRex at June 29, 2012 08:24 AM (Hx5uv)

110 Barack Obama is a dog eatin' liar.

Posted by: Jypsea Rose is @AmericanGypsea at June 29, 2012 08:25 AM (iKSAz)

111 I'm hoping it's just squirrels looking for buried nuts and not raccoons.

We have a virtual pestilence of rabbits in my neck of the woods.  Might be on the look out for those.

Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at June 29, 2012 08:25 AM (8y9MW)

112

Posted by: I am woman - so I can call it at June 29, 2012 01:16 PM (HOOye)

 

Hmmm... and this comes the DAY after we tell China that they don't have to abide by the Iran Export Embargo..

 

To use a time honored meme.... I question the timing...

Posted by: Romeo13 at June 29, 2012 08:25 AM (lZBBB)

113 >>>but you know that's true, right?

If that happens to be true it reinforces a central point of DON'T LET YOUR ENTITLEMENT SPENDING GET TO BIG DURING BOOM YEARS, you'll regret it later because you won't be able to cut it when you're broke. Kind of like California, Illinois, the US as a whole, the British financial woes, and every other financial crisis on the planet.

Posted by: MikeTheMoose Lite! 98% Anger Free! at June 29, 2012 08:25 AM (0q2P7)

114 108 Some critter is trying to eat my potatoes. Luckily, the tubers are too far down still. I'm hoping it's just squirrels looking for buried nuts and not raccoons. Posted by: toby928© at June 29, 2012 01:24 PM (QupBk) ------ good luck with that once they start, the invasion grows - it happened to me if I want a varied garden, now, I have to fence off the entire thing, it's sad, really and the bunnies will hop up my top tier deck to get to my herbs It's not safe out there!

Posted by: gardening can be fun - sorta at June 29, 2012 08:26 AM (HOOye)

115

Posted by: scofflawx at June 29, 2012 01:22 PM (IhBRY)

 

Yup... its their version of TARP.

Posted by: Romeo13 at June 29, 2012 08:27 AM (lZBBB)

116 103 Do you guys seriously want Bobby Jindal for VP? Have you seen the guy? Posted by: Paulie Carbone at June 29, 2012 01:22 PM (tyou3) Thunderdome demands Allen West...

Posted by: cajun carrot at June 29, 2012 08:27 AM (UZQM8)

117 90-

So Germany can have all of the Valencia coast in a couple of weeks.. with time off to see the museums in Madrid..  Lesbos can be sold to an anonymous bidder in Seattle..

Posted by: catman at June 29, 2012 08:27 AM (NYdB8)

118

108 Some critter is trying to eat my potatoes. Luckily, the tubers are too far down still. I'm hoping it's just squirrels looking for buried nuts and not raccoons.

 

Mmm...potatoes. We like potatoes.

Posted by: Moles at June 29, 2012 08:27 AM (jPxSq)

119 DON'T LET YOUR ENTITLEMENT SPENDING GET TO BIG DURING BOOM YEARS The Boom-times will never end. This time it will be different.

Posted by: toby928© at June 29, 2012 08:27 AM (QupBk)

120 What are these "secret wiretaps" Drudge is top-headlining?
I thought we already knew that the wiretaps specified what was going on and were signed off by Holder?

Posted by: RoyalOil at June 29, 2012 08:27 AM (kSaUf)

121 Posted by: gardening can be fun - sorta at June 29, 2012 01:26 PM (HOOye)

Get a couple of out-door cats.  That should clear up any problems with squirrels or raccoons.

Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at June 29, 2012 08:28 AM (8y9MW)

122 Posted by: toby928© at June 29, 2012 01:24 PM (QupBk) Chicken wire that shit man.... sheeesh.

Posted by: cajun carrot at June 29, 2012 08:28 AM (UZQM8)

123 Lets not forget jackboot made from humanly from vegan materials.>>

Does this mean they are making jackboots from vegan flesh?

Posted by: Buzzsaw at June 29, 2012 08:28 AM (tf9Ne)

124

Of course she has hair, you need something to hold ... err... nevermind.

 

Does the Horde need have to have the ears =/= handles conversation again?

Posted by: alexthechick - SMOD 2012 at June 29, 2012 08:28 AM (VtjlW)

125 by seen him, I assume you mean the color of his outer integument?

Why yes, yes we have. YOUR POINT?

Posted by: Bitter Clinger and all that at June 29, 2012 08:28 AM (CP+yl)

126 John Roberts made a Supreme Clusterfuck Of A Mandate / Tax.

Posted by: AoSHQ Random SCOAMF/SCOAMT Generator 3000 (tm) at June 29, 2012 08:28 AM (mMijF)

127 Allen West is crazy, but I think it was cool that he did a mock execution on that Iraqi.

Posted by: Paulie Carbone at June 29, 2012 08:28 AM (tyou3)

128 People are saving there money for the new ObamaCare tax in 2014..... Hmmmmm, if I "save" about $100 per month until then that will get me over the hunp the first year.... Then what??? Spend $12,000 a year on "insurance" or $2400 on the penalty - I mean TAX..... Either way - Obama has screwed everyone until they turn blue... Obama will be able to afford his own doctors 24/7/365 after he gets done screwing the middle class.... Your welcome.

Posted by: izoneguy at June 29, 2012 08:28 AM (hbRed)

129 Mmm...potatoes. We like potatoes. Posted by: Moles Ha! Your attack is defeated. I lined the bottom the raised bed with wire mesh first! You gots to come up first.

Posted by: toby928© at June 29, 2012 08:29 AM (QupBk)

130 I don't see the Europeans going to war with each other.

"Hello, Germany?  Hi, this is Italy, Spain, Italy, Portugal and Ireland on conference call."

"Uh, hi guys, what's up?"

"Bad news.  We're declaring war on Germany, but first we have a small favor to ask.  Wars are expensive.  Do you think you could loan us a few hundred billion to keep it fair?"

Posted by: Hollowpoint at June 29, 2012 08:30 AM (SY2Kh)

131 I maybe an Eyeore but the healthcare.gov ads may swing the public to pro Obamacare, or just make enough parasites to like it.

Posted by: Avi at June 29, 2012 08:30 AM (Gx3Fe)

132 111 I'm hoping it's just squirrels looking for buried nuts and not raccoons.

On my patio this morning a freaking squirrel was resting on my chase lounge. The damn thing looked like he was expecting me to bring him a coffee and a selection of mixed nuts. 

Posted by: Long Island at June 29, 2012 08:31 AM (kzp9t)

133 Well? Chop chop!

Posted by: Long Island Squirrel at June 29, 2012 08:31 AM (QupBk)

134

Posted by: Bitter Clinger and all that at June 29, 2012 01:16 PM (CP+yl)

 

 

 

Meh.  This is overblown.

 

1.  The US still has a huge manufacturing base.  We just don't bother with much of the cheap crap any more, and if we needed it back we could bulid it.  For example, you could have electronics plants set up in a matter of a few months in the US, and fully functional, if there were an emergency.  If it were not easy to do, we would not be doing it in China/VietNam/insert-shithole-here. 

 

2.  If we run out of people to do a job, and later want to do that job, we'll import people to do it.  That's what the US once did - import USEFUL people, rather than welfare trash.  Not hard.

 

3.  I DO agree with your comments re education.

 

4.  Until we come up with a better system, getting the useless people out of the work force and onto the dole is actually beneficial.  We are now hyper productive.  1 unit of human labor is now so productive (thanks to technology) that we need only a  small fraction of what we once did to have enough of every necessity of life for everybody.  The biggest problem with unemployment is what to use all these surplus humans for.  Half of them are nearly useless to begin with and would just get in the way in most jobs.  We can't even use them to dig ditches any more - they're too inefficient.

 

 

 

Posted by: Reactionary at June 29, 2012 08:31 AM (xUM1Q)

135 70
No I don't I get it. However I never got it. I try to be positive but I fear he will win in November. They called Reagan the Teflon president. Nothing seems to stick to this guy. Nothing stuck to Reagan because people were doing well. Now everything is shit and his numbers are still good. It is very scary.

ditto, A blind man could see Obama would be a disaster before he was elected.  He spent the last three years proving he is not only the worse President in US history but one of the worse leaders of a free people in history yet he will probably win the electorate vote in November.  I can only assume there is a lag time for people to come to grips with reality.  Tragic, but democracies more than other governments deserve what they get.

Posted by: Bob from Virginia at June 29, 2012 08:31 AM (SBjsJ)

136 >>>Have you seen the guy?

I'm assuming you mean he's not white and therefore we ultra-racist conservatives could never like him; or so your puny little racist mind thinks everything is about race.

He gave the response to Obama's first address to a joint session of Congress, also spearheaded gulf response during the BP oil spill, so yes we've seen him. A little to Mr. Rogers in that speech in 09, he's gotten fired up since then. I like'em. I think he'd be a great pick.

Posted by: MikeTheMoose Lite! 98% Anger Free! at June 29, 2012 08:31 AM (0q2P7)

137 Everyone forgets that the only ones to be fined/taxed/penalized/serfed/owned/pwned by the tax/mandate will be those who earn over 150% of the poverty level.

I believe that's about 14k right now? (correct me someone)

those earning below that will enjoy the largesse of their fellow citizens who will be fined/taxed/penalized/serfed/owned/pwned.

Posted by: Bitter Clinger and all that at June 29, 2012 08:32 AM (CP+yl)

138 Indians are dark skinned white. In fact they are closer to Hitlers aryan ideal than semites

Posted by: Avi at June 29, 2012 08:33 AM (Gx3Fe)

139 133

You're incorrect on so many levels.

Posted by: Bitter Clinger and all that at June 29, 2012 08:34 AM (CP+yl)

140 "If that happens to be true it reinforces a central point of DON'T LET YOUR ENTITLEMENT SPENDING GET TO BIG DURING BOOM YEARS" That's generally good advice, but they're not getting slammed right now by entitlement spending. They got hit with a real estate crash. The governments bailed out their banks, which just transferred the debt problem from the banks to the governments. Now they're trapped in the Euro and they can't devalue their currencies, which is what you'd normally do in a situation like that. So they're pretty much fucked.

Posted by: Paulie Carbone at June 29, 2012 08:34 AM (tyou3)

141 @ 131 I maybe an Eyeore but the healthcare.gov ads may swing the public to pro Obamacare, or just make enough parasites to like it. Posted by: Avi at June 29, 2012 01:30 PM (Gx3Fe) It being a tax means it comes out the public's and parasite's pockets. Not The Wealthy® at large. That's a message we need to counter with. Like "Who's paying your gas tax when you fill up?" "Who's paying the cigarette tax when you smoke?"

Posted by: Jypsea Rose is @AmericanGypsea at June 29, 2012 08:34 AM (iKSAz)

142 130-  It won't be a WAR-war  just southern lorry tour with the newest hip RV - the Leopard II

Posted by: catman at June 29, 2012 08:34 AM (YKUmW)

143 Allen must have small raccoons or really big cats

Posted by: Jean at June 29, 2012 08:34 AM (WkuV6)

144

Do you guys seriously want Bobby Jindal for VP? Have you seen the guy?

Yes.  Yes, I have.

 

 

Posted by: alexthechick - Jindal 2020 at June 29, 2012 08:35 AM (VtjlW)

145 Some guy named Biderman has a video over at Zero Hedge that explains why the bank deal in the EU is just more can kicking down a very short road. He looks to see the next "Black Swan" event in 2013. At the latest.

Posted by: Fred at June 29, 2012 08:35 AM (fdnD9)

146 >>>Allen West is crazy

Yes he vehemently disagrees with you so therefore must be insane. Trust me, that isn't an original thought. Libbies have been saying that to keep folks from rationally examining conservative philosophy for about 5 decades now, along with "For the CHILDREN"® and "Conservative Hate the POOR!"®


Posted by: MikeTheMoose Lite! 98% Anger Free! at June 29, 2012 08:36 AM (0q2P7)

147 Although Jindal is darker than the half caucasion wasp Kenyan , he is all caucasian

Posted by: Avi at June 29, 2012 08:36 AM (Gx3Fe)

148 Current spending is 49% of GDP which not only is unsustainable but is being supported by freewheeling printing of money.

And our lying "betters" are hiding the inflation.

Posted by: Vic at June 29, 2012 08:36 AM (YdQQY)

149 "I'm assuming you mean he's not white and therefore we ultra-racist conservatives could never like him" No, I mean he's goofy and dorky looking.

Posted by: Paulie Carbone at June 29, 2012 08:36 AM (tyou3)

150 Whats drudge got?

Posted by: Jean at June 29, 2012 08:37 AM (WkuV6)

151 143

yeah, I haven't seen too many house cats willing to take on a raccoon.

Squirrel maybe but they're very fast and agile. (a house cats original prey besides mice and rats.)

Raccoons will face off with a human sometimes. NOT. TO. BE. FUCKED. WITH. Long rear claws and sharp needle like teeth. Many are rabid or pre-rabid.

Posted by: Bitter Clinger and all that at June 29, 2012 08:37 AM (CP+yl)

152 "Yes he vehemently disagrees with you so therefore must be insane." Well he thinks there's a massive communist infiltration exceeding anything Joe McCarthy ever claimed.

Posted by: Paulie Carbone at June 29, 2012 08:39 AM (tyou3)

153 That's generally good advice, but they're not getting slammed right now by entitlement spending. They got hit with a real estate crash. The governments bailed out their banks, which just transferred the debt problem from the banks to the governments. Posted by: Paulie Carbone at June 29, 2012 01:34 PM (tyou3) Dude... you're not even trying anymore...

Posted by: Roberts at June 29, 2012 08:39 AM (UZQM8)

154 What exactly is "pre-rabid" ?

Posted by: catman at June 29, 2012 08:39 AM (NYdB8)

155

Critters...

***

The dam on the lake which I live is being rebuilt. ALL the crittters scurried for a new home, Rabbits, Racoons, Opposum, Squirrels, Woodchucks, Skunks, Ground Hogs and every kind of fucking BUG you can imagine has been haning around my house for 3weeks now. The beach is closed down and the kids can't swim, the lake is half drained, the fishing sucks. I've got a mosquito infested mud hole in my back yard all because the stupid fucks at the town and state level could not find a way to schedule the rebuilding early spring or late summer.

 

 

Posted by: dananjcon at June 29, 2012 08:39 AM (eavT+)

156 Dear Mr. Ace O' Spades:

Thank you for letting us beta our new JO-0085 Random Non Sequitur Generator© in the comments section of your blog. We're still not sure why you chose to have it named 'Paulie Carbone' for this purpose, but we're still grateful. Unfortunately, we have to cut our trial short, as our JO-0085 is giving off a definite smell of burning, plus leaking a dark Vap-O-Rub smelling substance on the carpet. We'll get back to you as soon as we sort out all the problems.....

Posted by: KickUp! Computing, Better Living Through Idiocy © at June 29, 2012 08:40 AM (VMcoS)

157 Do you remember that speech where he was like "Hi, I'm Bobby Jinal" and looked and sounded like he was 12? Dude is a joke.

Posted by: Paulie Carbone at June 29, 2012 08:40 AM (tyou3)

158 154 What exactly is "pre-rabid" ?

I was pre-rabid before the ruling yesterday. Now I am full on rabid today.

Posted by: Long Island at June 29, 2012 08:40 AM (kzp9t)

159 They have rabies but no symptoms yet. There's an incubation period.

That's probably not the term to be used.  I said it because although we don't hear about it much, the raccoon, skunk, squirrel populations are the largest pool for the virus. But they die for so many other reasons that it doesn't register. (roadkill, predators, accidental, age,)

Until someone gets bit.

Posted by: Bitter Clinger and all that at June 29, 2012 08:42 AM (CP+yl)

160 The left always tells us who they fear by mocking them. Second look at Jindahl?

Posted by: Fred at June 29, 2012 08:42 AM (cDwCa)

161 >>So they're pretty much fucked.

Um no. The reason why they are F*ked is because they can't get their budget within the amount of taxes they take in and so all the bonds that are floating around with their name on them will cause a financial crisis when they default. The loss of income from a down economy made the uncontrolled entitlement spending their problem because they could not cut it to get government back within it's means.

Devaluing your currency in that instance only leads to stagflation and the same realized asset losses for the bond holding banks as the haircut you would give them in default and still precipitate a banking crisis. I figured you might have studied the Carter recession by now, and the Japanese lost decade but obviously, the furthest in economic theory you have is Keynes despite his theories being proven wrong in the practical sense in every instance they were used in the real world.

Posted by: MikeTheMoose Lite! 98% Anger Free! at June 29, 2012 08:42 AM (0q2P7)

162 "Dude... you're not even trying anymore..." Could you like elaborate on that? What do you think was wrong with anything I said? They did have budget surpluses. They did have massive real estate crashes. Their current government borrowing problems were caused by bank bailouts. They don't have their own currencies. What the hell do you disagree with here?

Posted by: Paulie Carbone at June 29, 2012 08:43 AM (tyou3)

163 Ammo; the new gold.

Posted by: Bitter Clinger and all that at June 29, 2012 08:43 AM (CP+yl)

164 Germany just needs to demand collateral.

Posted by: Invictos at June 29, 2012 08:44 AM (OQpzc)

165 WEB MD -"Pre-Rabid" - A syndrome associated with tremours and mild to severe mental delusions, likely to result end in period of remorse and wailing  when exposed to cool to cold temps. ( such as late fall, early winter..) frequently called by the slang name "Paulie Corbone"

Posted by: catman at June 29, 2012 08:45 AM (YKUmW)

166 Using government inflation numbers 10 cents, the price shown for a box of Kelloggs Rice Krispies in a 1935 store photo on Shorpy, would be $1.57 now.



A quick search on Bing shows them to run $6 at discount houses. I would hate to see what they run in a convenience store which would be the equivalent of those old local stores kn 1935.


But there is no inflation.

Posted by: Vic at June 29, 2012 08:46 AM (YdQQY)

167 Vegan Boots are not made from vegans but really are constructed from man-made materials. Excuse my genderism ... person made materials. Back in the day it was know as cheat shit fake leather.

Posted by: Long Island at June 29, 2012 08:46 AM (kzp9t)

168 This is all you need to know about diplomats and agreements, courtesy of the Iron Chancellor, Otto von Bismark: When a man says he approves of something in principle, it means he hasn't the slightest intention of carrying it out in practice.

Posted by: I R A Darth Aggie © at June 29, 2012 08:47 AM (1hM1d)

169 Dude, the Japanese Yen increased during the early 90s. It was extremely low at the start of the bubble in 1985-6. I think it peaked around 1995.

Posted by: Paulie Carbone at June 29, 2012 08:49 AM (tyou3)

170 whups; not squirrel (I could swear I thought rodentia were highly likely. Maybe it's because they get et and not bit as much)

bats was the other that are very likely to be rabid.

Posted by: Bitter Clinger and all that at June 29, 2012 08:53 AM (CP+yl)

171

The problem the Euros have is that they are trying to run a hard money system with fiat-style spending.  That's why even Germany is doomed  no matter what they do - even the Germans run a deficit.  Just not such a large one as the others.

 

 

They need to conceed that they have a fiat system, and either go to true fiscal union so that they can print as needed to address liquidity problems and control monetary policy - OR break up and go back to indepdent currencies (the ones they never should have left).

Posted by: Reactionary at June 29, 2012 08:58 AM (xUM1Q)

172 If you think the problems in the Eurozone today were caused by high entitlement spending, you really don't know what you're talking about. Greece was always a somewhat dysfunctional country plagued by corruption, but countries like Ireland and Spain were running budget surpluses, and were considered responsible countries.

Posted by: Paulie Carbone at June 29, 2012 08:58 AM (tyou3)

173 Reactionary at 171 is completely right.

Posted by: Paulie Carbone at June 29, 2012 08:59 AM (tyou3)

174 bats scare the crap out of me. i know in environmental circles they are a real cause celeb .. so misunderstood. There was news story a few years back about woman had bat stuck in her house, damn thing bite her but the bite was so slight she didn't even know until she became rabid and of course died.

Posted by: Long Island at June 29, 2012 09:00 AM (kzp9t)

175
103 Do you guys seriously want Bobby Jindal for VP? Have you seen the guy?

Posted by: Paulie Carbone at June 29, 2012 01:22 PM (tyou3)

Racist you much?

Posted by: Klawnet at June 29, 2012 09:04 AM (a/VXa)

176 Bats have become the main source of rabies here, followed closely by red foxes.

Posted by: Vic at June 29, 2012 09:05 AM (YdQQY)

177 Duh, this is unsurprising. After four years of depression/recession, reserves are exhausted. People don't spend, because they can't.

What next, Mr. President?

Posted by: Arms Merchant at June 29, 2012 09:06 AM (+XVQe)

178 Angela and John Roberts ought to go out to dinner.  They have a lot in common.  Not only are they afraid of losing their power, they also turn their hearing aids off when the people of their respective countries are trying to tell them...."ah...no"....by a wide and vast majority, btw.

Heck invite Doris Kears Goodwin.  The prez had her in for tea and asked how he could distinguish himself in the history books as a super dooper president.
Why they can write the first draft of the history books, one for Angela and one for John Roberts....then they can be sure of their power, their place in history and their smugness of knowing that they know best cause they are super dooper educated class of super dooper people...it's all good, right?

Posted by: starry at June 29, 2012 09:16 AM (oZfic)

179 The mall has become a depressing place.  The other night Batchelor was talking about his mall in Westchester being empty, empty....as a sign that "things aren't go well".

No one goes to the mall during the week anymore.  they go mostly Saturday and Sunday.  It's very very crowded.  You might think the economy is booming.  Until you see that if you see someone carrying a bag it's from the desperate store that finally marked everything down 50%.  

And they are there to "treat the kids" to maybe the food court and a little window shopping and a pretzel, a little family outing that doesn't cost much.  Before this they were treating everyone to local restaurants for dinner, but not anymore, they can only justify the mall and only if the money doesn't get spent on something necessary and serviceable that has to be bought.  Or a dress or suit for something specific, some event.  A gift for a bd, or graduation or wedding.  No more impulse buying.  How many sweaters does one need really, they ask themselves.

Posted by: starry at June 29, 2012 09:21 AM (oZfic)

180 Think of it this way; California, Illinois, and Rhode Island agreed to make Texas taxpayers cover their bad loans

This is what, the 20th time Europe has been "saved" by some sort of meeting where euro elitists engage in a circle jerk

Atlas is growing ever closer to saying "fuck it"

Posted by: kbdabear at June 29, 2012 09:26 AM (Y+DPZ)

181 We are now hyper productive. 1 unit of human labor is now so productive(thanks to technology)that we need only a small fraction of what we once did to have enough of every necessity of lifefor everybody. The biggest problem with unemployment is what to use all these surplus humans for. Half of them are nearly useless to begin with and would just get in the way in most jobs. We can't even use them to dig ditches any more - they're too inefficient. Posted by: Reactionary at June 29, 2012 01:31 PM (xUM1Q) Purple Wage in 3... 2... 1...

Posted by: The Political Hat (@ThePoliticalHat) at June 29, 2012 09:56 AM (XvHmy)

182 104 - great; I'll look for it

Posted by: the Butcher at June 29, 2012 09:57 AM (8g9qq)

183 The economy is so bad that the stock market is booming.

Posted by: Dimmy at June 29, 2012 10:13 AM (mka2b)

184 Well bills passed based on tax increases are fairly toxic for politicians (hence why dems had to so vociferously claim this not a tax increase on anyone) whereas bills they pass with nebulous future costs under commerce clause don't get the ire of the people quite as easily. Its a muddled argument versus a pretty clear one.

Posted by: Brian at June 29, 2012 10:20 AM (T93zU)

185 The economy is simply becoming more selective.

Posted by: Calvin Dodge at June 29, 2012 01:26 PM (ANBNc)

186 "183 The economy is so bad that the stock market is booming.

Posted by: Dimmy at June 29, 2012 03:13 PM (mka2b)"

Well, not really.  Sure almost everyone is in the market, even if they don't realize it, because of their pension funds but, the retail investor, by and large, has gone to cash.

Posted by: starry at June 29, 2012 02:38 PM (oZfic)

187 Obama is a stuttering clusterf*ck of a miserable failure.

Posted by: steevy at June 29, 2012 02:46 PM (Xb3hu)

188

Right so right now Germany is the Goose who laid the golden eggs and the rest of the Euro-Zone is that greedly little Man who chooses that the Goose might not be laying enough golden eggs fast enough?

Or is this old bed time story no longer told to children in the Euro-Zone?

Posted by: Mr. Irons at June 29, 2012 11:12 PM (Mw7Ns)

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