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Old 09-25-2012, 07:51 AM   #81
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According to Max Kaiser, Greece also had to cook their books (all with a great help from our best friends at JP Morgan), to qualify to enter Eurozone. Can't give you the link or more specifics ATM, but there was little evidence anyway (unsurprisingly). But he is usually spot on with his fraud spotting comments, and is usually proven to be right later on. So that Italy swap deal does not surprise me at all. HAve seen the same frantic push from Polish politicians, to join the Euro club (really, how fecking stoopid, or how fecking corrupted one have to be, to be pushing to join Eurozone right now, and in any foreseeable future?).
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Old 09-25-2012, 08:07 AM   #82
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Originally Posted by bushi View Post:
According to Max Kaiser, Greece also had to cook their books (all with a great help from our best friends at JP Morgan), to qualify to enter Eurozone. Can't give you the link or more specifics ATM, but there was little evidence anyway (unsurprisingly). ...
This was widely reported a while back. Goldman Sachs was the firm that developed the creative solutions.

http://www.npr.org/2011/10/04/140948...ew-third-world

http://maxkeiser.com/2012/01/15/%E2%...into-the-euro/

http://www.bloomberg.com/news/2012-0...-unravels.html

More Goldman Sachs chicanery:

http://www.spiegel.de/international/...-a-676634.html
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Old 09-25-2012, 08:17 AM   #83
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...I am so sorry for black mouthing our dear friends at JPM - must eat my words now
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Old 09-25-2012, 09:13 AM   #84
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Quote :
The new push for a European Union federation, complete with its own head of state and army, is the "final phase" of the destruction of democracy and the nation state, the president of the Czech Republic has warned.

In an interview with The Sunday Telegraph, Václav Klaus warns that "two-faced" politicians, including the Conservatives, have opened the door to an EU superstate by giving up on democracy, in a flight from accountability and responsibility to their voters.

"We need to think about how to restore our statehood and our sovereignty. That is impossible in a federation. The EU should move in an opposite direction," he said.

Last week, Germany, France and nine other of Europe's largest countries called for an end to national vetoes over defence policy as Guido Westerwelle, the German foreign minister, urged the creation of a directly elected EU president "who personally appoints the members of his European government".

Mr Westerwelle, in a reference to British opposition, called for nation states to be stripped of vetoes on defence to "prevent one single member state from being able to obstruct initiatives" which "could eventually involve a European army".

The new offensive followed the unprecedented declaration by the Commission's president, José Manuel Barroso, during his "state of union" address to the European Parliament on 12 September, that he would make proposals for a fully-fledged EU "federation" in 2014. "Let's not be afraid of the word," he said.

Speaking in Hradcany Castle, a complex of majestic buildings that soars above Prague, and is a symbol of Czech national identity, Mr Klaus described Mr Barroso's call for a federation, quickly followed by the German-led intervention, as an important turning point.

"This is the first time he has acknowledged the real ambitions of today's protagonists of a further deepening of European integration. Until today, people, like Mr Barroso, held these ambitions in secret from the European public," he said. "I'm afraid that Barroso has the feeling that the time is right to announce such an absolutely wrong development.

"They think they are finalising the concept of Europe, but in my understanding they are destroying it."
...
More: http://www.telegraph.co.uk/news/worl...nal-phase.html
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Old 09-27-2012, 11:09 AM   #85
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http://www.bloomberg.com/news/2012-0...nightmare.html

The number one worry for Germans is the worry about inflation! How long until Americans realize inflation is a problem?
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Old 10-04-2012, 01:51 PM   #86
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http://thenewamerican.com/economy/it...-big-tax-hikes

Portugal's politicians couldn't bring themselves to cut spending, so they are going the massive tax hike route to balance their budget. For those that think large tax hikes help/hurt an economy, we are about to witness a case study of which side is correct.
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Old 10-10-2012, 10:21 AM   #87
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And the wealthy French continue to flee...
http://www.france24.com/en/20121007-...-tax-hit-looms

I can not imagine why all those rich French families need to suddenly sell their homes.
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Old 10-10-2012, 10:55 AM   #88
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Where are all the wealthy peeps going? They've been leaving the USA too FWIW.
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Old 10-10-2012, 11:28 AM   #89
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Originally Posted by PMBug View Post:
Where are all the wealthy peeps going? They've been leaving the USA too FWIW.
The above article lists the U.S., the U.K., Switzerland, Belgium, Canada, Israel and Singapore as destinations.
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Old 10-11-2012, 08:11 AM   #90
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http://www.telegraph.co.uk/news/ukne...patronage.html

"...the average Scottish household consumes £14,151 more in public services every year than it pays in tax.

Even the families in the middle income groups consume around £20,000 more in state spending than they contribute."

Just like in the U.S., when a politician dares point this out they get slammed by the media.
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Old 10-15-2012, 09:51 AM   #91
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http://www.cnbc.com/id/49371256

Humm, businesses leave when the government is stuggling and imposing a heavy tax burden...

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Old 10-19-2012, 08:17 AM   #92
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You have to love the French...
http://www.france24.com/en/20121010-...-reform-france

"French President François Hollande potentially won the hearts of millions of future voters on Tuesday when he announced plans to abolish homework and reduce the number of pupils forced to repeat school years."

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Old 10-31-2012, 09:01 AM   #93
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http://finance.yahoo.com/news/france...3Rpb25z;_ylv=3

""The competitiveness of France on foreign markets has been damaged for the last 10 years. This is nowhere more obvious than in Europe, where France has lost market share for the last 10 years," said Lamy in an exclusive interview with CNBC in Paris.

"The place where the trade balance of France has deteriorated the most is within Europe, where conditions of competition are roughly level. So contrary to what I hear from time-to-time, they are probably not [struggling because of] China."

Lamy said that in the short term France must become more cost competitive by cutting taxes on businesses "so they regain a bit of margin for maneuver."

France's socialist government under President Francois Hollande is due to outline measures to boost competitiveness on November 6.


However, the government has already detailed plans to increase, rather than decrease, taxes on big companies as part of its 2013 austerity budget, which aims to tackle France's crippling deficit."

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Old 10-31-2012, 09:09 AM   #94
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http://news.yahoo.com/eurozone-unemp...--finance.html

"Unemployment in the 17-country eurozone hit a record high of 11.6 percent in September..."

"Five countries in the eurozone are already in recession — Greece, Spain, Italy, Portugal, and Cyprus — and others are expected to join them soon."

"Spain held the ignominious position of having the highest unemployment rate in the eurozone, at 25.8 percent. Greece may yet surpass that — its unemployment rate mushroomed to 25.1 percent in July... Both countries, which are at the heart of Europe's three-year debt crisis, have youth unemployment above 50 percent."
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Old 11-08-2012, 08:18 AM   #95
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http://thenewamerican.com/world-news...over-eu-budget

It is good to see countries starting to buck against the EU!
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Old 11-08-2012, 09:49 AM   #96
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They will push and they will push some more. The IMF and EU will not be happy until every last greek is starving to death. In what universe do you expect a country to return to growth with 26% unemployment and as of yesterday, even more government lay-offs and severe pension and salary cuts? More taxes? Again, what the fuck?

When you push a man so far that he has nothing left to lose, you create the perfect conditions for revolution, and that is what is happenning in Greece and Spain, soon to be followed by Italy and Portugal.

These fuckers had better be careful what they wish for here.
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Old 11-14-2012, 01:41 PM   #97
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Protests all over Europe:
http://news.yahoo.com/photos/protest...ope-slideshow/
http://www.cnn.com/2012/11/14/busine...html?hpt=hp_t3

Italy, Spain, Belgium, England, France, Greece..... Europe burns
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Old 11-30-2012, 09:27 AM   #98
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Suprisingly, if you jack up the tax rate to 50% or more on the wealthy, yes they will leave...
http://www.telegraph.co.uk/news/poli...-tax-rate.html

"In the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs.

This number fell to just 6,000 after Gordon Brown introduced the new 50p top rate of income tax shortly before the last general election."
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Old 11-30-2012, 09:46 AM   #99
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The insane are now running the asylum.

France, which owns a minority position in the largest ship builder in the world, Chantiers de Le Atlantique in St. Nazaire, are pissed because the shipyard may have to close because, well, no one needs any new shipos right now. The workers are demanding the french government nationalize this relic so they can keep their jobsm irrespective of the fact that there are no ships to be built. In addition, some minister or another also threatened to nationalize a steel mill owned by Arcelor Mittal, because they want to close a plant that is sitting idle. What these idiots don't seem to get is that when the government takes over, the taxpayers are the sole subsidizer. Period. There is no magic money fairies out there, but the socialists still believe in them apparently.
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Old 12-03-2012, 10:10 AM   #100
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Originally Posted by ancona View Post:
The insane are now running the asylum.

France, which owns a minority position in the largest ship builder in the world, Chantiers de Le Atlantique in St. Nazaire, are pissed because the shipyard may have to close because, well, no one needs any new shipos right now. The workers are demanding the french government nationalize this relic so they can keep their jobsm irrespective of the fact that there are no ships to be built. In addition, some minister or another also threatened to nationalize a steel mill owned by Arcelor Mittal, because they want to close a plant that is sitting idle. What these idiots don't seem to get is that when the government takes over, the taxpayers are the sole subsidizer. Period. There is no magic money fairies out there, but the socialists still believe in them apparently.
http://finance.yahoo.com/news/french...3Rpb25z;_ylv=3

Indian business can not make money running a factory in France and tries to close said factory.

French government says you can not do that and "nationalizes" (steals) the factory.

French president defends this idea because it is what Barack Obama does.

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