Stupid World

[blue rider]

http://www.washingtonpost.com/blogs/...an-we-thought/

shorter IMF, OOOOOPS Austerity is having a negative impact....!

well because when you starve the economy the economy is going to grow....and these dumb arses rule the world.

we are so fucked!

[blue rider]

http://blogs.wsj.com/economics/2013/...for-austerity/

we are fucked.

http://www.imf.org/external/pubs/ft/wp/2013/wp1301.pdf

[mashman]

shorter IMF, OOOOOPS Austerity is having a negative impact....!

well because when you starve the economy the economy is going to grow....and these dumb arses rule the world.

we are so fucked!

Nothing like a little bit of money fear to send economists and markets into a spin. No doubt an admission to spur the market on. Now that the IMF (useless fuckwits) have publicly declared that know what the issue was (funny that austerity etc... would kick the economy in the guts, who woulda thunk it), they can produce their all knowing all seeing solution and we'll march swiftly forwards to, erm, nowhere. You're right though, we're fucked whilst these dickheads run the economy as if they know what they're doing.

On the plus side though, it is fuckin hilarious that the IMF etc... believe that they know what they're doing.

[flyingcrocodile46]

The figures tossed around about the size of the US deficit are too big to comprehend and it is likely that the significant majority of the worlds population (especially the yanks) don't really understand how big the problem is. A bit like the way that the holocaust head count was lost on the world until they started to see pictures of piled up bodies and mountains made of broken spectacles etc.

Check this out.

[mashman]

The figures tossed around about the size of the US deficit are too big to comprehend and it is likely that the significant majority of the worlds population (especially the yanks) don't really understand how big the problem is. A bit like the way that the holocaust head count was lost on the world until they started to see pictures of piled up bodies and mountains made of broken spectacles etc.

Check this out.

It's pretty stunning eh and that was a great example (8 zero's ). The fed shut down for 4 days a few years ago to total the amount of debt and find out who owned what... 4 days ... It's nice to see that they found it all and got it all sorted.

[blue rider]

talk about chutzpah

http://dealbook.nytimes.com/2013/01/...ts-savior/?hpw
Headline: Rescued by a Bailout, A.I.G. May Sue Its Savior

i can only repeat myself, we are so fucked....! lol

[mashman]

I bet plenty of this sounds familiar irrespective of which country you live in...

"In a way, it is precisely to avoid those questions that this false war has been created. Every minute spent discussing the factual inaccuracies, dishonesty and sleight of hand in the skivers/strivers debate is time wasted, time that could be spent addressing the bone-rattling mismanagement of an economy that only doesn't look more dangerous because it is going so slowly. And yet, we have to discuss it; to leave it unaddressed is to accept that public life has been polluted, that we now live in a system where it doesn't matter what's true, it only matters what's been said most often. To borrow, for solace, from Churchill: statistically speaking, the unemployed won't always be unemployed. A Tory will always be a Tory."

[mashman]

Coming to a suburb near you? (I do like her writing)

"Nobody would let me use their surname, and one person wanted her first name changed, because "you don't tell anybody because it would be admitting that something's wrong. Not that anything is wrong. It's just sensible to save money." The shame, totally illogical, totally understandable, gets into your bones like the cold."

[mashman]

I agree, right up to 1:56. What innovation?

[mashman]

Naughty naughty bankers... "The FSA has revealed that more than 90% of interest rate swaps were possibly mis-sold to small businesses."

[mashman]

Cyprus bailout hits bank depositors

"Deposits of less than 100,000 euros will be taxed at 6.75 per cent and higher deposits at 9.9 per cent.

The tax, described as a once-off "stability levy", will be applied immediately, with Cypriot authorities freezing a portion of all deposits."

Does that mean those who hold accounts will not be able to withdraw "a portion" of their money? T'would seem a little unfair given that you should be allowed to change banks anytime you like. Isn't it the account holders money after all?

""This has been a very difficult process, but the result reaches the essential goals of both maintaining financial stability (in the eurozone) and ensuring debt sustainability in Cyprus," EU Economy Commissioner Olli Rehn said."

Well if it's to ensure debt sustainability then it's alright then. Coz until now debt just hasn't been sustainable

Well fuck-a-doodle-do. They went ahead with the ESM. I guess it could be a good thing if non of the propaganda is true.

Stupid world indeed... although a stupid world requires stupid inhabitants to allow this sort of thing to flourish. hmmmmmm

[mashman]

Gotta feel for the Cypriot's.

The banks fuck up and the people pay for it. Funny how no one actually comes out and says it that way. People being taxed on money that they've already been taxed on to bailout the useless. If the video, linked above, is anything to go by, then legal challenges are going to be more money down the drain as it states that the ESM are immune from prosecution.

[davereid]

Gotta feel for the Cypriot's.

The banks fuck up and the people pay for it.

Cyprus of course is only the first of a long line of EU states needing a bail out.

Its lucky that the clever people who have done this know that it won't cause a run on the banks in the countries where it still has to happen. Cos that would be a disaster.

[mashman]

Cyprus of course is only the first of a long line of EU states needing a bail out.

Its lucky that the clever people who have done this know that it won't cause a run on the banks in the countries where it still has to happen. Cos that would be a disaster.

Well the economy is supposed to be turning around so I guess those who have held out this long may be able to continue holding out for a bit longer? Maybe not even seeking a bailout.

Fuck I'd lol HARD if that happens.

[jonbuoy]

The general populous has to take its share of the blame. Living beyond your own means, debt consolidation,no savings in the bank (however small they may be). Pay check to pay check lifestyle spending more than you earn lifestyle all adds up. It's been a ridiculous scenario for decades that everyone has tried to ignore.