Tanta vive!

Greece defaults sooner or later. If New Democracy doesn't win, then its sooner.

We need a :blame it on the iPad: icon. It will be Steve Balmer's favorite icon.

I'm rooting for Syriza. The Greeks don't get out of this fix without repudiating.

However if Syriza wins, no one knows.

Well, I won't spend the rest of the day fretting about that. Have a good day, folks.

Greek elections: live report | The Jakarta Globe

"1603 GMT: EXIT POLLS ALSO INDICATE NEO-NAZI GOLDEN DAWN PARTY BACK IN PARLIAMENT

1601 GMT: EXIT POLLS PUT CONSERVATIVES AND RADICALS NECK AND NECK

1600 GMT: POLLS CLOSE

1555 GMT: In a sign of the tension surrounding this election, two grenades were found outside the offices of private media group Skai TV, which supports austerity in Greece, this morning. "Somebody is trying to disturb the holding of the election but this effort will fail," said government spokesman Dimitris Tsiodras....A Skai employee initially said the first grenade had been lobbed into the building's outer yard."

I want a recount!

BBC live coverage.

BBC News - Live Page: Election in Greece

Sebastian

What was Pasok's percentage in may?

Sebastian wrote:

CR: " **I don't understand **how could they do it this time with Syriza making a much stronger showing and PASOK losing support."

like I said in the last thread... CR suffers from acute naivete and a discernible inability to understand how political power operates.
stick with what you know Bill... real estate!

Greece defaults sooner or later. If New Democracy doesn't win, then its sooner.

Sounds right to me. Barring the unexpected discovery of 27 gazillion barrels of sweet light crude 10 meters down under Pireaus harbor, there's no way Greece pays off its debts for decades. Might as well default and get on with life.

Italy's Mass Protest: Tens Of Thousands Rally Against Cuts, Hikes, Reforms

06/16/12

ROME -- "Tens of thousands of Italian workers rallied in Rome on Saturday to protest pension cuts, tax hikes and labor reforms imposed by the government of Mario Monti and to demand more stable work, particularly for the young.

The demonstration organized by Italy's main labor unions came a day after Monti's latest effort to stave off contagion from Europe's debt crisis. His Cabinet on Friday approved measures worth (EURO)80 billion ($100 billion) to spur economic growth, streamline the notoriously bloated public sector and lower the national debt.

In the seven months it has been in power, Monti's government of technocrats has pushed through painful pension cuts, labor reforms to make it easier to fire workers and tax increases that have cut into the pockets of ordinary Italians already coping with hard times and youth unemployment at a staggering 36 percent."

Déjà vu

Rodney King RIP (great American?)
...
must be said that Mayor Dinkins was instrumental in keeping the
riot contagion from happening here in our fair city of New York.
...

... and one of those little flowers ... or do they teach you that at ?

let's hope that goofball 's name doesn't make it on this blog again...

One more cost of the recession.

The CDC just released a report Deaths: Leading Causes for 2008 and death by suicide was up 4.5% (up 1437) over 2007. May not sound like much, but a 1-sigma change would have been only 190 deaths.

picosec wrote:

death by suicide was up 4.5% (up 1437) over 2007.

The really bad news: Most of them weren't investment bankers.

Agronox wrote:

I'm rooting for Syriza. The Greeks don't get out of this fix without repudiating.

Yep, got to go with them.
Everything else is a win for the Blood Sucking Squid.

Rodney King found dead.

Rodney King, key figure in LA riots, dead at 47

REBear wrote:

Can't Italian youth take out student loans?

international students in Italy are entitled to the same financial assistance that Italian students are given. This means that any loan through the school or Italian government that Italian students qualify for International students may also qualify. There is an institution calle Opera which takes care of my schools financial aid, so I emailed them and they told me I could receive and Italian loan for up to 10,000 euros each year for my 2yr masters program.
Italian Grad. School (not FAFSA accredited) - Need Loans!! : Private Loans : Financial Aid Forums and Discussion Board

No. The "hold up" was that SYRIZA, #2 seated, refused to form a coalition. How could you forget Alexis "Huey" Tsirpas' passionate speeches of indignation in spite of Samaras' pleading?

Anyhoo, either of the parties have 3 days to form a coalition.
one party needs to collect at least 37.5%, in order to form its own government

IF NOT, the supreme court justice gets the PM pro temp title, again, until another general election is scheduled. At least, that's Teh Plan.

kneeto.

PS. REbear, May. estimate-actual

picosec wrote:

One more cost of the recession.

The CDC just released a report Deaths: Leading Causes for 2008 and death by suicide was up 4.5% (up 1437) over 2007. May not sound like much, but a 1-sigma change would have been only 190 deaths.

I'd bet those numbers went up every following year. Does it help the banks?

Effects of capital controls on Greece - FT.com

June 17, 2012 7:48 am

"Controls on the flow of capital between euro area countries have now moved beyond journalistic and academic speculation; European Commission officials are now openly acknowledging they are a subject of discussion.

The use of the “Article 65” loophole in the Treaty on European Unity that allows for controls to be imposed for the purposes of taxation, prudential supervision of financial institutions, as well as “public order and public security”, is, for the moment, confined to Greece. How long, though, will depositors in other “peripheral” countries avert their eyes from the risk?

Douglas Rediker, a senior fellow of the New America Foundation and until recently a member of the executive board of the IMF, says:

“There are no winners in capital controls. But if banks and your economy are losing capital, you may use them to stem the tide. It’s not winning, but it’s not losing as bad as you might otherwise. Capital controls are distorting and easily evaded.”

Hmmm ... how easily evaded would they be in a quasi-eurozone country such as Greece after imposition of Article 65 measures? Greeks are already over-invoicing imports and under-invoicing exports, to avoid what they see as confiscatory and selective taxation. This sort of practice will likely become a more elaborate art form over time."

gabyjan wrote:

Tom Stone wrote:

Does it help the banks?

might if they have insurance on their huts

Or life insurance policies they did not know about.

Rob Dawg wrote:

life insurance policies they did not know about.

that's what i meant peasant hut insurance or something like that or even just plain peasant insurance

European leaders to delay flight to G20 summit | ITV News

Sun 17 Jun 2012

Mary, thanks for Hungarian links and sources.

Mary wrote:

The "hold up" was that SYRIZA

I'm just relying on what some idiot posted on the internet.
Comment by Mary from thread 'Unofficial Problem Bank list declines to 924 Institutions'

“New Democracy, PASOK and Democratic Left have 168 seats in Parliament. They can progress if they want. Their demands for SYRIZA to take part are unprecedented and illogical.”

JimPortlandOR wrote:

But the biz interests are dead set against rebelling on the terms of previous bailouts, so ND gets all their votes.

These are the biz interests:
http://craphound.com/images/sugarkrinklesoriginal.jpg

Mittens Plan to Change the World and Bring About Hope & Change, that almost everyone can believe in (including the Tooth Fairy): ==> This will help Greece and the Euro Too!

Mitt Romney: Restoring the American Promise - US Business news - CNBC

By making bold cuts in spending and commonsense entitlement reforms, we will make our government simpler, smaller, and smarter. Through pro-growth policies, by abolishing Obamacare and eliminating other Obama-imposed impediments to economic growth, we will get our economy back on track.

"Duke of Con Dao wrote:
Sun, 06/17/2012 - 9:43am
later ... need "

Take as much time as you need.

"1803: Tim Willcox, presenter and reporter for BBC News, points out that the exit polls represent only 80% of the vote."

The Associated Press: Fires across southern Greece seen abating

josap wrote:

• the sooner they die off the better for everyone else

wanted nice ice floe must have internet access,

Calderon Says G-20 to Back Bigger IMF Anti-Crisis Firewall

June 17 (Bloomberg) -- "World leaders meeting in Mexico will boost the $430 billion firewall the International Monetary Fund announced in April, host President Felipe Calderon said.

"I estimate that there will be a larger capitalization than the pre-accord reached in Washington, which will be finalized here," Calderon told reporters in the Mexican coastal resort of Los Cabos yesterday. "But I don't want to speculate by how much."

josap wrote:

the sooner they die off the better for everyone else.

you first

Rickkk wrote:

"But I don't want to speculate by how much."

It' won't be enough.

Spanish Austerity Savage to the Point of Sadism | The Indypendent

JUNE 17, 2012

"Nobel Laureate economist Joseph Stiglitz characterizes the Spanish bank bailout as “voodoo economics” that is certain “to “fail.” New York Times economic analyst Andrew Ross Sorkin agrees: “By now it should be apparent that the bailout has failed—or at least on its way to failing.” And columnist and Nobel Prize-winning economist Paul Krugman bemoans that Europe (and the U.S.) “are repeating ancient mistakes” and asks, “why does no one learn from them?

if you are Josef Ackermann heading up the Deutsche Bank, you earned an 8 million Euro bonus in 2012, because you successfully manipulated the past four years of economic meltdown to make the bank bigger and more powerful than it was before the 2008 crash.

...German Banks also financed the real estate bubble that crashed Ireland’s economy. Some 60 percent of Deutsche Bank’s income is foreign based.”

gabyjan wrote:

just part of the plan take us back to the 14th century

but this time with Reality TV and kickass computers

Unprecedented or not, their demands that SYRIZA take part were entirely logical. Execution of the troika's demands is political suicide and thus required consensus. No party of significance could be allowed to reap the benefits of dissent.

Which is worse - bankers ... wrote:

And the Patriot Act, which beats the stretching rack by a mile....

the rack was so limited... we have the freedom to select between a bewildering variety of enhanced interrogation techniques

"They didn't even ask me any questions!"

Which is worse - bankers ... wrote:

which beats the stretching rack by a mile

what about hang,drawn and quarter?

gabyjan wrote:

what about hang,drawn and quarter?

It's a crowd pleaser. A potential hit reality show.

Opinion polls show Greeks, weary and disillusioned after five years of deep recession, overwhelmingly favor remaining in the euro, but there is bitter anger over repeated rounds of tax hikes, slashed spending and sharp cuts in wages and pensions. ... and German Super MEFO Bonds, that are linked to advertising campaigns for Mittens and GOP neo's ...

You're welcome. Dodo is an excellent local journalist although I'm pretty sure that's not his profession.

i just thought of something. if mittens is going to gut SNAP just how is JPMCHASE going to feel about that?

One note Kruggles. $1.4T deficits are not austerity.

$1.4T deficit is due to tax cuts, not spending increases that are creating public jobs.

With a $5.xT government expense, at $100,000 per job we should be seeing 50M+ gov't jobs. Where the fuck is that money really going?

Comrade Troyski wrote:

Where the fuck is that money really going?

to the banks, not through the back door,this is coming up the sewer

Comrade Troyski wrote:

peak boomer retirement burden isn't going to arrive until 2020 and it will stay a good long while.

Yah, peak in 2020, and a long slow build-up, with austerity and the malformation of society as we know it today -- every model in the economic universe will prove to be as worthless as every model is today -- but if one is honest about the reality of less consumption, fewer jobs and illiquid assets, then one will understand that things are about to go downhill at a very rapid pace and not recover.

ac wrote:

Economics is a form of politics.

like i said yesterday its ECOPOLITICS now

Yalt wrote:

What are the bankers up to?

Very interesting, in a very scary way.

What is there about the biggest economic collapse since GD1 that you folks don't understand?

You think you can nickel and dime your way out of it?

That's what Larry Summers thought.

Comrade Troyski wrote:

Where the fuck is that money really going?

trophy wife shopping sprees (and blow and hookers)

mp wrote:

You think you can nickel and dime your way out of it?

i got pennies too just kidding but im pulling the belt tighter
mittens scares me with our luck he will get in.

Comrade Troyski wrote:

Where the fuck is that money really going?

Share buybacks are at an all-time high, aren't they?

creditcriminalslovetarp wrote:

let's hope that goofball 's name doesn't make it on this blog again...

Simi Vallley FTW

Mary wrote:

Golden Dawn (KKE)

KKE is the initials of the Communist Party of Greece.
Communist Party of Greece - Wikipedia, the free encyclopedia

Founded in 1918, the Communist Party of Greece (Greek: Κομμουνιστικό Κόμμα Ελλάδας, Kommounistikó Kómma Elládas), better known by its initials, ΚΚΕ (usually pronounced by Greeks as "koo-koo-eh" or "kappa-kappa-epsilon"), is the oldest party on the Greek political scene.

Golden Dawn is a distinct party within the Greek political structure. It is typically described as being extreme right wing.
Golden Dawn (Greece) - Wikipedia, the free encyclopedia 

Scholars and media describe it as neo-Nazi[7][8] and fascist[9] although the group rejects these labels.[10]

I have never been to Greece. I only know what I read in books and on the internet. Perhaps you should consult with an "expert."

mp wrote:

You think you can nickel and dime your way out of it?

With global Socialism, this time it is different than GD1, because people around the globe will be bailed out by taxpayers who have jobs, and thus no need for WWlll and all the benefits of diverting global resources into war machines -- this time, things are less messy, and instead of a few years of killing, we just have a decade or 2 of financial going off and wiping out pensions, savings, jobs, etc ...

Doc Holiday wrote:

things are less messy, and instead of a few years of killing, we just have a decade or 2 of

yep and those that survive will ever so greatful

Greek elections: Greece returns to the polls - live coverage | World news | guardian.co.uk

Wow. Per the exit polls, did Syriza win?

please don't waste your time watching the movie Safe House starring Denzel Washington and Ryan somebody...
(even for free)
it's like a bad Bourne... guess Sam Shepard needed a paycheck...

Doc Holiday wrote:

With global Socialism

The bureaucracy to run that would need megalopolis to contain it. Or one giant machine to rule them all. Mordor City.

Yalt wrote:

Apparently this has not yet been linked here. It deserves to be.
What are the bankers up to

"It’s hard not to think here of Perry Anderson’s thesis, developed (alongside other themes) in The New Old World, that the EU project is fundamentally a response by European elites to their inability to roll back social democracy at the national level. The new supra-national institutions of the EU have allowed them to bypass political cultures that remain stubbornly (if incompletely) egalitarian and solidaristic"

that certainly rhymes with a historical view of Europe in the 19th & 20th centuries...

Doc Holiday wrote:

trophy wife shopping sprees

all that savvy, yet they still eat the depreciation

pavel.chichikov wrote:

one giant machine to rule them all.

what about one ring to rule them all?

gabyjan wrote:

what about one ring to rule them all?

Could be a ring. Need to find the elves who would be willing to forge it, but that should be no problem.

ooooOOOO you got me plaque attack. .

I was thinking as I typed of yuan whose political compass places KKE at the extreme left of all the nationalist parties in Greece.

Any comment on CHRYSI AVGI (Golden Dawn)?

ac wrote:

"political economy

okay politicomy,see it just dont work ecopolitics works much better

it will have been worth it.

technology is on the side of the police state now.

and we've got a $900B/yr security establishment to feed -- a $600/mo burden per job in the economy.

The conservatives know which side their bread is buttered on with that.

Fiscal Conservativism? Romney Would Raise Defense Spending $2.1 Trillion Over 10 Years

wow. press leaking 1/2 percentage point difference. If Greeks were Ivorians the UN would have landed already.

Comrade Troyski wrote:

technology is on the side of the police state now.

and we've got a $900B/yr security establishment to feed -- a $600/mo burden per job in the economy.

You'll also note that defense expenditures are conspicuously absent from the list of public expenses to be slashed in the Greek "Memorandum."

Comrade Troyski wrote:

the latter is most important, wages over total debt, since the plan now is to untax non-wage income I guess.
good luck with that.

1. form a corp or LLC
2. the corp or LLC does contract work (keep you job but the LLC is paid)
3. no employee expense for the hiring entity. No health insure, workers comp, unemployment, FICA etc.
4. the worker (LLC or corp contracted for the work) takes a dividend or dispersment and not wages.

Mary wrote:

Any comment on CHRYSI AVGI (Golden Dawn)?

In the midst of chaos, authoritarian nationalism has superficial attractions. However, if they can not make the leap to plurality in the current situation, it seems unlikely that they will ever be more than a nuisance factor in parliament.

All the parties represented in Parliament have at least a tinge of nationalism. Greeks still value sovereignty, though they seem to disagree what to do with it.

BBC News - Hollande 'wins absolute majority' in French parliament

burnside wrote:

Would it be cynical to suggest retirees will prefer their investments become 'untaxed'?

I'll have to consult my accountant.

Greek Elections Could Decide The Country's Eurozone Future : The Two-Way : NPR

"The electorate is split on this issue and it's not a left, right line, but a generational line and urban vs. rural," said Sylvia. "At the closing of the New Democracy rally the crowd was mostly elderly, many were bused in from outside Athens and at Syriza's closing rally the crowd was urban and young.

That ends well.

Rob Dawg wrote:

New Democracy rally the crowd was mostly elderly, .............and at Syriza's closing rally the crowd was urban and young.

Which group will show up to vote?

Very much worth reading:

Greece will have to leave EMU whoever is elected - Telegraph

josap wrote:

Which group will show up to vote?

apparently they both did. Now they need to learn to get along with one another.

pavel.chichikov wrote:

At what angle to the atmosphere - can they calculate?

Head on. AR 1504

gabyjan wrote:

like i said yesterday its ECOPOLITICS now

it seems like it has always been so, since humankind created the idea of community.

In earlier days, the study of the two was united: 'political economy' - and no matter what people like in separating them, they can't be pried apart.

I laugh each time someone here says 'no politics in comments'. They might as well say no economics also.

Rob Dawg wrote:

AR 1504

?

Nemo wrote:

ensure German and French bank profits.

I don't think the Greeks are up to the task.

Pasok wont join a govt if Syriza not in.

Time for Round 3.

pavel.chichikov wrote:

Rob Dawg wrote:

AR 1504

?

The way they number active regions on the sun. This region has already seen 2 CMEs that arrived yesterday.

Rob Dawg wrote:

The way they number active regions on the sun. This region has already seen 2 CMEs that arrived yesterday.

Thanks.

I don't give a shit one way or the other. Male, female--dumb ass all the way.

MattFea wrote:

Well we'll find out in just over 3 hours.

I'll be busy getting ready to watch Tigger fuck up in the U.S. Open by then.

burnside wrote:

' in order to set aside partisan matters

anyone think that could happen here in the usa?

gabyjan wrote:

anyone think that could happen here in the usa?

It has in the past. Of course.

Nemo wrote:

It's nice to see Geece has chosen depression to ensure German and French bank profits.

Will Spain, Italy, Portugal, Cyprus ......... choose the banker's profits?
And when the time comes, what will France decide?

gabyjan wrote:

anyone think that could happen here in the usa?

Not unless they ban twitter, facebook, CNN, and every other mass communication medium from the hill.

re: EU federalists, optimal conditions

Interesting essay, Yalt, in the genre of bounded rationality, "economic psychology" division, game theory category.
What are the bankers up to? 

I'll bookmark as I'm interested to see additional player profiles.

Greeks still value sovereignty, though they seem to disagree what to do with it.

On this we can agree.

to 1942.

oh they did in 41! pavel this is for you,somehow i ended up legacy

Comrade Troyski wrote:

Obama is now ~20,000 votes in Wisconsin away from losing reelection

Hello, President Mitt!

And in minutes the European Soccer Championship games start. Most Greeks and most of Europe back in front of the telly.

Get your priorities straight. I'm watching.

RE wrote:

And in minutes the European Soccer Championship games start.

Final eight isn't championship.

burnside wrote:

Would it be cynical to suggest retirees will prefer their investments become 'untaxed'? And not object?

What percentage of retirees are expected to have substantial investments?

GASPS

Hello, President Mitt!

Hello travelocity.com

That they even need to worry about WI should have his team very concerned.

well, it was a Rasmussen poll, so there's that

Duke of Con Dao wrote:

seriously, stick with what you know.

"My North Korean super-model GF who also once blew Elvis said the Mormom underwear is the hottest thing evah".

Rob Dawg wrote:

Final eight isn't championship.

It's not even the final eight yet. However, they are playing for the European Soccer Championship.

CalculatedRisk wrote:

Making stuff up isn't my thing.

you go CR,you go
and thanks for all you do
and thanks to coop

Eric wrote:

"My North Korean super-model

show my where I ever wrote that? Nope. What commenter Eric.