Marc Faber: The Next Thing You Need To Worry About Is The PIIGS

[globaleconomicollaps]

I didn't see this posted yet:
Marc Faber: The Next Thing You Need To Worry About Is The PIIGS


I hate those little postage stamp videos so I hunted around in the source and found this terrific link ( maximize your browser window before you click )
http://cosmos.bcst.yahoo.com/up/fop/...rouselEnable=0

Full screen! hurray!

I found this on Mish today.

[Shakespear]

Re: Marc Faber: The Next Thing You Need To Worry About Is The PIIGS

Enough with the little Swiss guy. I have a question for Mr. Blankfein. If the mortgage backed securities you issued over the entire earth were AAA rated, why would you think you could profit by short-selling their future value? Would it be that you and a clique of insiders knew that Mr. Bernanke was going to raise the interest rate a dozen times and drive those mortgages backing those securities into foreclosure?

I like that comment. I suspect Mr. Blankfein would be creative in answering it

[big67]

Re: Marc Faber: The Next Thing You Need To Worry About Is The PIIGS

I think that PIIGS is a rather insulting acronym... too bad it got traction on Itulip. Also a hell of an oversimplification... but knowing so well you Mighty Americans I know why you like it so much. Putting it mildly, you guys just can't think without an acronym...

TARP, anybody?

[goadam1]

Re: Marc Faber: The Next Thing You Need To Worry About Is The PIIGS

I think that PIIGS is a rather insulting acronym... too bad it got traction on Itulip. Also a hell of an oversimplification... but knowing so well you Mighty Americans I know why you like it so much. Putting it mildly, you guys just can't think without an acronym...

TARP, anybody?

piigs is a standard msm term.

[goadam1]

Re: Marc Faber: The Next Thing You Need To Worry About Is The PIIGS

Defaults is a political choice and will be politically managed so as not to seem like defaults. As far as his comments about the US, expect higher fees, taxes and hidden appropriations like the trial balloon of "r bonds" long before a cut in social welfare. What he is right about is that those "doing God's work" will do just fine.

[big67]

Re: Marc Faber: The Next Thing You Need To Worry About Is The PIIGS

piigs is a standard msm term.

Then it is a standard msm insult.

It may be easy to remind for illiterate, uneducated people, but it is gross, offensive and moreover misleading.

[sunskyfan]

Re: Marc Faber: The Next Thing You Need To Worry About Is The PIIGS

I disagree. I think as soon as the American people realize the "retirement" social contract is broken then the Goldmansacs of the world will be thrown onto the bonfire of the vanities maybe even with their clothes on.

[goadam1]

Re: Marc Faber: The Next Thing You Need To Worry About Is The PIIGS

I disagree. I think as soon as the American people realize the "retirement" social contract is broken then the Goldmansacs of the world will be thrown onto the bonfire of the vanities maybe even with their clothes on.

And then they will VOTE. What will they do with their anger? Build a time machine and fix stuff. What are the choices? Okay, tax the rich. Sucks for me. I'm kinda the rich but not a banker and that covers taxes on my point. Tax the bankers? The cost will be passed along so that is going to be a tax of sorts. Not pay welfare state payments in line with inflation? Really, do you think they will vote a cut in payments? For certain, the Boomers will die a fairly nice death no matter what it costs future generations. I have no doubt we will see MORE government "services." And I wouldn't hold my breath waiting for a G 7 country do "default."



I'm a gonna shoot me a banker!

[MulaMan]

Re: Marc Faber: The Next Thing You Need To Worry About Is The PIIGS

PIIGS is a great term, why do you find that insulting?

How about "Catholic PIIGS once again dragging down the hard-working, industrious Protestants and Jews from which they descended? LOL!

Not a historian, but this Catholic thing seems to have been going on for a long time, seems our economic world was built on Protestant culture so I guess there must be some built in advantages becuase it seems the Catholic countries utimately crash and burn....I wonder if Brazil will make it this time around...

The Protestant Bible and The Jewish new Testament:

"An Inquiry into the Nature and Causes of the Wealth of Nations" - Adam Smith

In my opinion, the Catholic countries should find thier own path and stop trying to be who they are not...perhaps that is the secret to the new Brazil...no matter how much the Protestants complain about what they are up to

[globaleconomicollaps]

Re: Marc Faber: The Next Thing You Need To Worry About Is The PIIGS

PIIGS is a great term, why do you find that insulting?

How about "Catholic PIIGS once again dragging down the hard-working, industrious Protestants and Jews from which they descended? LOL!

Not a historian, but this Catholic thing seems to have been going on for a long time, seems our economic world was built on Protestant culture so I guess there must be some built in advantages because it seems the Catholic countries ultimately crash and burn....I wonder if Brazil will make it this time around...

The Protestant Bible and The Jewish new Testament:

"An Inquiry into the Nature and Causes of the Wealth of Nations" - Adam Smith

In my opinion, the Catholic countries should find their own path and stop trying to be who they are not...perhaps that is the secret to the new Brazil...no matter how much the Protestants complain about what they are up to

In France ( a traditional Catholic country ) there is a deep distaste for what they refer to as "Anglo-Saxon" influence and ideas. This is a euphemism for protestantism. For instance Jessie Jackson is referred to as an "Anglo-Saxon". Yet PIIGS doesn't seem to extend to France ( why mess up a libelous abbreviation ). I suspect that the source of the slander is the ancient skin color chauvinism. I came across this map one day. I think it explains a lot of recent european politics:

[due_indigence]

Re: Marc Faber: The Next Thing You Need To Worry About Is The PIIGS

Is productivity or hair color the dependent variable?

I'm more inclined to see it as the Zionist-Anglo-Saxon axis, the UK-US protestant work ethic wed to Jewish banking interests. They conquered the world. For a time. It's a rapacious winner-take-all model. In its advanced stages it went pathologic.

[Chris]

Re: Marc Faber: The Next Thing You Need To Worry About Is The PIIGS

has Greece defaulted?

[raja]

Re: Marc Faber: The Next Thing You Need To Worry About Is The PIIGS

And then they will VOTE. What will they do with their anger? Build a time machine and fix stuff. What are the choices? Okay, tax the rich. Sucks for me. I'm kinda the rich but not a banker and that covers taxes on my point. Tax the bankers? The cost will be passed along so that is going to be a tax of sorts. Not pay welfare state payments in line with inflation? Really, do you think they will vote a cut in payments? For certain, the Boomers will die a fairly nice death no matter what it costs future generations.

A few things off the top of my head . . . .

Vote in Politicians who will enact the following (or get kicked out of office the very next election):

1. Create regulations that will control the bankers, and make it a criminal offense to not enforce those regulations.

2. Break up the Big Banks. Re-instate the Glass-Steagall Act to separate gambling institutions from "straight" banking.

3. Place heavy restrictions on Banks, including pay caps. No more bonuses. They can choose whether they want taxpayer assistance or not, but if they accept it, We dictate the conditions. If they don't like it, let them fail . . . after they give back Our money, plus a percentage of the profits they made.

4. Stop the revolving door between Financial Institutions and Government.

5. Ban corporate campaign contributions.

6. Enact the Congressional Reform Act (google it)

7. Put those who committed financial fraud, favoritism or insider trading in jail.

And then, there's always: Boycott the Big Banks, Vote Out the Incumbents . . . . .

[big67]

Re: Marc Faber: The Next Thing You Need To Worry About Is The PIIGS

Thank you for your chart.

Clearly, the "PIIGS" acronym is racist.

Race superiority must always be "justified" to the people: now that US has a black president and that the catholic-protestant religious argument is quite weak may be the MSM will use an economic argument to justify the coming massacre of the diverse.

[jiimbergin]

Re: Marc Faber: The Next Thing You Need To Worry About Is The PIIGS

Thank you for your chart.

Clearly, the "PIIGS" acronym is racist.

Race superiority must always be "justified" to the people: now that US has a black president and that the catholic-protestant religious argument is quite weak may be the MSM will use an economic argument to justify the coming massacre of the diverse.

I think it is simply a simple way to remember the countries involved just as BRIC is. I think you are putting to much into it. What would you have used instead?

jim