Don't make a move or the Portuguese gets it.
NWO experiment going terribly wrong
The party is over. No more feel good from Germany and France. The socialist countries are having withdrawal symptoms.
Default really is the best option for most of these countries. They won’t be able to borrow again if they default, but they should not be borrowing anyway.
The socialists have run out of other people’s money
The socialists have run out of other people’s money
Don't make a move or the Portuguese gets it.
When did “Mish” Shedlock become “Mike?”
Going up-market, and leaving his old persona behind in the blog-slums?
Attacking one’s benefactors only works when one’s benefactors are obligated in some manner to continue. This sort of rhetoric will only result in their being cut loose and left to fend for themselves. Upon just whom will clueless socialists in Portugal unleash their economic nuclear bomb then? Austerity is coming and will not be an option. I expect they’ll foul their own nests and burn things, then scream, rip their hair out and rend their clothing, while blaming anyone but themselves. They’d enslave others to wipe their collective butts if they could, all the while claiming the moral high ground but denigrating morals at every turn. Destructive, nihilist babies, the lot of them.
The Big Government Socialists of Portugal do not want to be ruled by the Big Government Socialists of Germany.
Who will win? Why the Big Government Socialists, of course.
The Portuguese, how many divisions do they have?
Devemo-lo tudo para nossos amigos Cloward e Piven.
Big 3 French bank balance sheets are 3 times the size of France’s GDP. Leveraged 30 to 1.
That would be like 3 big American banks have $45 trillion balance sheets.
Those French banks are French toast.
Unbelievable.
Portugal, Italy, Greece, everybody, deal. It ain’t goin’ away.
No mo’ money.
Immediately, Portugal will only be able to spend what they take in. They will have to immediately choose between paying welfare and pensions, and even if they terminate welfare the pensions will take a haircut.
The result of terminating welfare will be a tsunami of underclass people going into the rest of Europe and hastening the collapse of the remaining welfare states.
Socialists are truly economically illiterate. That move by Portugal would primarily nuke THEIR OWN economy!
This is the true face of socialism, infantilism.
A few centuries ago, if a country did not pay their debts, they could expect war ships to show up on their shores to make collections.
It worked great, incompetent governments were absorbed by more efficient governments.
When Portugal considers default as a weapon I recall the famous line in “Blazing Saddles”....
“Anyone move, I shoot the N____r!”
(”I think he means it.”)
Theft and deception are implicit to Marxist/socialist ideology...
There is a liberal in my office...half Portugese. He has stated numerous times that ‘government should take care of its people’.
I laugh.
In his mind, government is like the Scrooge McDuck...a paternal figure doling out support to the masses. He has no concept of where Scrooge McDuck gets his wealth (or that his vault is beyond empty right now).
He is particularly stubborn on healthcare...after all, it ‘works’ in Portugal. What Portugal has is a dual system, where the wealthy can get healthcare on their own, outside of the state run system. So, its better than the Canadian model, but still not sustainable.
I will send him this article. He will not be able to understand that allegedly free healthcare is helping to contract the Portugese economy.....now that I think about it, he has expressed concern that the western model of expanding economies is not ‘sustainable’... so the article will be very trivial to him.
Time to cut up the kids’ credit cards.