The other moral hazard


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leaveittoviva in reply to Forlana

Yeah, kill'em all. When we run out of EU nations- how many now, 27?- we'll be getting on our cayuse and heading over to the OK Corral in Asia for more deer caught in the headlights. C'mon Sythian princess, pp says you like to ride. EEEE HAWWW!!!!

leaveittoviva in reply to Pumpernickel_

Think I read that over half of BAE's profits are from US deals. Can only suppose that they are trying to broaden their customer base with this deal. Naturally F and G want to get a finger in the pie as well.

Putin wants to get his eyes on US secrets though so no deal.

It seems strange to hear you compare the tightly controlled Nazi army of the '30s with the innumerable factions of Syria. You are right though, no one knows what's going on there.

But one thing is certain, if Turkey becomes embroiled in a wider war, the US will have to take a hand.

This is true because, apart from Turkey being a friend and ally, Russia and Iran are pouring men and materiel into Syria.
Their escalation cannot be allowed to engulf surrounding areas.

It is highly plausible and already evident that Syria is going to be partitioned.

This outcome will be highly interesting to the Kurds of eastern Turkey who have fought so long for self determination.

With Iran and Russia pouring massive amounts of all types of weapons and even troops into Syria to buttress Assad, it is curious to hear voices from the martial UK speak of avoiding full support for a NATO member and fellow European nation.
If the progressive Europeanizing nation currently occupying the Anatolian glacis (that shields Europe from direct confrontation with the expansionistic and virulently Islamic states of the Middle East) drifts out of the Western orbit, the calamity will be greater than the loss of Iberia to the Moors in the eighth century or the loss of the Balkans to the Turks in the fifteenth.
Sobieski and Roland would be disappointed.

leaveittoviva in reply to Junoir

'I hope the US steers well clear of this one.'

Turkey has the largest army in the region, well armed and trained. But if a prolonged wider war breaks out, Turks will reasonably look to the US and we will respond.

Not just because Turkey is in NATO and a staunch ally, but because Iran's proxy Syria cannot be seen to attack others with impunity. Weakness and vacillation only embolden aggressors.

Clearly the Middle East is headed for another paroxysm of violence. Our friends must know they can rely on us. France and Germany will watch like vultures for opportunities or make token gestures to appease the US.

Perhaps only Britain of the larger European nations will offer meaningful assistance. You know, it's not just the material support that matters but the perception of a united front that gives the aggressor pause and gives our friends the confidence to assert their rights.

Half of war is psychological. That's why North Vietnam drove the US out of Vietnam. Logically the US should have won. Hopefully we have learned a few lessons since then, including that of Iraq.

We can intervene and prevail without massive numbers of troops, but only if we are in it from the start and fully committed. That way, if we don't discourage the Iranians and their proxies from attacking Turkey, at least the Turks will have the confidence and wherewithal to prevail.

Junoir in reply to sanmartinian

"The chickens are coming home to roost".

We agreed some time ago among the regulars here that in view of the way this expression has been massacred over the past two years, ALL alternatives will be accepted. Perhaps you missed that.

We have witnessed 'roost', 'roast', 'rest' and 'rust'.

My 'rust' was just to keep the tradition alive, so to speak.

Josh_US Lux in reply to sanmartinian

Sorry for the belated answer - I opted out of e-mail alerts for replies to my messages. I'm happy, though, that you apparently are of a proud lineage of people of health, physical strength and longevity - which actually justifies my underestimating your age and not always acting with the reverence usually accorded to people of advanced age;-)! So I guess this: "And, Josh, really never be reverent with the likes of me. We abhor it" ... can be done! So long.

"Zorbas, are the Greek people fully aware of these circumstances or are they really “ze Germanz are to blame for everything” dumbos. Are they that thick?"

Well, let's face facts here Pumper, the Greek electorate is a thick as the German electorate, which is a thick as the American electorate...

This is how the banksters have their way with all of us. You can bank on the majority of the people in each of our nations being too thick and/or too preoccupied to bother to take the time to understand what is really being done to them, and by whom.

But it is the Greek people who are suffering more then any other people from this self serving internal deflation bankster policy of austerity. Therefore the noose needs to be loosened, and quickly too. Greece is too small a nation to make such a large fuss about.

The 80% figure is inflated of course. Just the very fact that we're talking only about private investors, tells us that this restructured was just the tip of the iceberg, and with the economy shrinking so rapidly, another restructuring of the debt is in the making, but after the German election of course.

One of my themes over the years has been "The Illusion of Political Choice". It's not just an American, or a German, or a Greek theme. It's a global phenomena. There's a master plan at work here, and it has very little to do with politics as usual on any of our national fronts.

Greece is the project being welcomed into the fold now. So, watch for more politically timely debt restructuring within the Euro. They could have made it easier on themselves by preparing the road ahead, but not enough time, and politically, it just wasn't feasible.

The one constant in modern Greek history is this: She has been given just enough space to breath, but never more, and has managed to survive, but barely.

So, we're not leaving. We are dirt poor, except for a few corrupt untouchable elites, but we're not allowed to leave.

The New World Order, of which Germany is a member, wants us in. No surprised there. It's a geopolitical issue more then anything else, but that's how these things work.

So, look for future debt restructuring within the Euro for both public and private bond holders. It's being done step by step, because to do it all at once, would have been too much for the markets and the German electorate to digest.

A lot of mistakes were made along the way, but the corrections are being made, although be it too slow for my proactive monetary policy American tastes.

PS - "Helicopter Ben" some genius wrote, as if that should actually mean something in and of itsel.

And I assume we are to believes that Ben had a myriad of options available to him, and chose to implement the most expensive one, when the bottom fell out of the global markets, because... What exactly, and please don't answer, I have a HI IQ again.

You see Pumper, all too many people are idiots. It's the one constant you can set your watch by. Of course the few smart ones are way too busy making money to even bother to awaken them from their slumber.

After all, an idiot's financial death is a smart man's financial gain. If we were all smart, how could anyone make a living?

As a whole, the Greeks are just too financially savvy, and a little too paranoid too, but given their history, who can really blame them...laughs

Great minds think alike brother. With the permission and invitation of the Mods, reposting my new and slightly improved response as well:

In other words Pumper, Merkel will be the girl in the protective plastic bubble. No surprised there. It has been quite some time since the Greek politicians have been able to show their faces in pubic as well.

Not to worry, we know they all work for the banksters, and yet, the worst we Greeks do, is occasionally fit our politicians for a yogurt cap, perhaps with a smattering of egg, according to one's tastes in such matters.

Of course when polled, Greeks by a large majority still prefer to remain in the Euro. Why? Because they understand that there is no other viable option, and/or perhaps they remember the good old easy money days, which of course will be late to return, if they ever return at all.

If I recall correctly, the Drachma used to be pegged to the DM back in the day. There will be no such logistical support this time. So returning to the drachma is not a viable option, at least not yet.

I for one wish they could, but then again, I'm not so concerned about the value of Greek Real Estate. What was priceless to me before, will always remain priceless to me. Those that want money should work for it.

You hold Real Estate. You don't sell. Never took the easy way out. The banks want Greece in. Merkel and Samaras work for the banks. Thus we have ourselves a marriage of convenience if ever there was one!

So, the Greeks must learn to do what the rest of the western world does. We will put our accountants to find legal tax loophole, the emphasis being on LEGAL of course, and prosecute the hell out of those fools who so flagrantly stole on the past. A Greek politician and his choice of rope I call it, unwept unsung.

That a boy Samaras! Walk the walk, talk the talk, and the money will flow, with the permission of the ECB to finance the difference with short-term bond auctions of course.

The fix is in. Only the banksters can provide the remedy, with one small precondition: We must agree to sell Greek assets on the cheap, and the troika of course are providing the much needed austerity to make everything in Greece real cheap right quick too.

One sticking point though, we have a simple liquidity problem that needs to be addressed by the end of November is all, to be followed by yet another liquidity problems that will need to be remedied as well.

But the real remedy, another restructuring of the debt, will need to be worked around the German election cycle of course. So, where do we sign to get on board for the economic miracle to follow...laughs

PS - Quit smoking yesterday. Feel a little better already. Off for a walk in the harbor to smell that wonderful sea air, and then a wonderful bowl of pasta with my famous sauce for supper!

emmafinney in reply to leaveittoviva

Generations of continental western Europeans have grown up with the USA doing the dirty work so they think it is their God given right to expect other countries to do the dirty work to keep Europe safe from the barbarians at the gate.

Poor Marie, thinks Turkey is going to keep the barbarians at the gate by taking care of Syria's Assad for Europe.

If that happens, Turkey will rule the middle-east and will became a formidable foe for Europe. Turkey is becaming more and more Islamist. This is a country where Mein Kampf was the number one best seller.

Have you ever heard of a mormon general?

I mean there are mormon senators, congressmen & governors but not a single high ranking military guy.

Mormons don't serve in the military, they do missionary work instead. Thats the way they are raised to keep the military at a distance.

Check out this interview with Romney's 5 sons. None of them ever served in the military and are asked why. Their answers are very interesting.

PS: Of course Romney can never talk about this for many reasons both domestic and international.

emmafinney in reply to leaveittoviva

"He was said to be uneasy or woozy last night, the result of not having his teleprompter handy I suspect."

Well Obama performed remarkably well without a teleprompter during his debates with McCain, not to mention numerous debates with Hilary Clinton as well and she ain't no wallflower either.

So obviously there is another reason for his listless performance yesterday. This happens to all presidents, after 4 years they look burnt out.

leaveittoviva in reply to Pumpernickel_

He-he. Or as enlisted is fond of saying 'hi-hi'.

Sounds like you read back through the last page and found yourself being jointed by the formidably even-tempered Junoir.

Must have really struck home for you to come back with such a rebuke against our well-liked and often quoted Britizen.

Fun to watch Wotan do his war dance to the explosion of fire-crackers tossed at him by a master of understatement.



MilovanDjilas in reply to Josh_US Lux

A story for you:
(At this points the guards were eyeing us carefully)



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