French Elections

[BlueBallz]

Now I woulod be bullshitting if I said that I knew the ins and outs of French politics. I see that had an election and they Socialist candidate won. I see he wants to DECREASE the hours worked and LOWER the retirement age. He also wants a top tax of 75%. Have these people not learned a thing? This is madness.

The govt should not confiscate more than 50% of your earnings. Its immoral. When the there are too many fleas and leeches on the dog, the dog dies.......................................

In other elcetion news I see Boris Johnson (what a name!) won reelection. He ran against Red Ken again didnt he?

[Tomcat]

Red Ken can drop dead for all i care. Taliban arse licker if ever there was one...i hate him period and all his left wing cronies . The biggest bunch of scumbags i have ever known

[katoeylover]

its all going to go tits up in the eurozone if the new greek and french governments have their way...

bye bye euro... hello drachma

[rxpharm]

For France, what the people want is not necessarily what's best for the country. However, it is pretty clear that even if the leftists win in various countries, like France, Greece, Ireland, Spain, etc. the fiscal realities may change their plans.

I'm not familiar with "Red" Ken - does he really cozy up to the Talibans that much?

[BlueBallz]

Now if I were Germany, I would be sick to the eye teeth of working hard to bail out the other losers. Why they do it is beyond me. Seriously, why DO they do it? Evidently there was some deal for dealing wih this crisis that both the Germans and French agreed upon. The first thing this new guy does is to say he will pull out of that deal and deliver goodies to all and sundry. I cannot see it ending anywhere but in tears....

[katoeylover]

the germans need the euro because it keeps their currency in a great position for exports.

without it the deutsche mark would be over-valued and make the exports more expensive and damage their economy severely.

[PigDogg]

(BlueBallz @ May 08 2012,09:39)   He also wants a top tax of 75%.  Have these people not learned a thing?  This is madness.

The govt should not confiscate more than 50% of your earnings.  Its immoral.  When the there are too many fleas and leeches on the dog, the dog dies.......................................

The way ole PigDogg sees it, the leeches are the permanent power elite of all countries.

I think it's immoral that a government needs to bailout Goldman Sucks and other too big to fail institutions yet the bigwigs at these outfits receive compensation hundreds of times greater than Joe the Plumber and Fred the Fireman and Nancy the Nurse.

For what?  :hairflickemoticon:

It's the institutional advantages afforded to the rich and powerful that makes their big bucks possible.  So it's not confiscating but rather having leeches pay their fair share.

Men and women in places like Egypt put their life on the line in their struggle for political and economic freedom.   Yet in Amerika all the people have to do is say "I'm mad as fucking hell and I'm not going to take it anymore" and toss out the tossers, both the  Obamas and Romneys, and give the power to the people.

[pacman]

Exactly KL. The Germans are the winners in the EU. Thanks to a very competitive euro, their manufacturers enjoy the best trading conditions they have ever seen. Their export economy is going gangbusters. if the EU broke up & they went back to the deutsche mark, the exchange rate would be so high, their factories would be stuffed. All those $40,000 Mercedes would stop selling at $120,000.

I don't know how France & Germany are going to resolve their differences. If Hollande insists on driving France further into debt, the Germans will make it as hard as they can for him. The looming French bond crisis will bring it to a head, without German support, the French economy can only go one way. I think that has already started.

Stupid electorates get the government they deserve. If the Greeks think they are better off being led by politicians who want to abandon the austerity measures imposed on them by the IMF, wait till they find out how hard life is outside the EU. The drachma will be a currency without a friend. How is Greece going to pay for their oil imports? Or for EU goods on which it relies? They are headed for a world of pain.

[Torurot]

As Pigdog said:

Lehman E-Mails
May 9th, 2012

Via: Bloomberg:
http://www.bloomberg.com/news....ll.html
If one wants to understand the full complicity of Wall Street in the Great Recession, look no further than the voluminous package of pre-collapse Lehman Brothers documents that have been made available by the law firm Jenner & Block LLP, which has acted as the coroner in the Lehman post-mortem.

Most important, the cache dispels the myth that Dick Fuld, chief executive officer of Lehman Brothers Holdings Inc., and his close associates were unaware of the risks their business faced in 2007 and 2008. That would be bad enough, but the more devastating reality is that Fuld and his sycophants were warned repeatedly but were blinded by their hubris.

The records confirm, yet again, that the €œforces-out-of- our-control€ argument we hear from Wall Street leaders is bunk. It is the ill-advised behavior of one banker after another, day in and day out, that leads to the sort of devastating financial crisis we are only now emerging from.

For instance, at a Lehman board meeting in September 2007, according to a copy of the presentation in the data cache, Lehman executives presented a clear summary of the brewing crisis. €œThe initial tremors were felt at the end of 2006,€ the board was told, €œwhen the poor loan performance of sub- prime borrowers began to be a cause for concern in the marketplace. This was evidenced by a gradual spread widening in the asset backed index.€ The presentation continued: €œThe market continued to widen as it became apparent that the performance problems in mortgage loans was not going to abate and was no longer limited to the sub-prime market but also affecting the Alt-A product.€

[Madfrog]

(BlueBallz @ May 09 2012,05:47) Now if I were Germany, I would be sick to the eye teeth of working hard to bail out the other losers.  Why they do it is beyond me. Seriously, why DO they do it?  Evidently there was some deal for dealing wih this crisis that both the Germans and French agreed upon.  The first thing this new guy does is to say he will pull out of that deal and deliver goodies to all and sundry.  I cannot see it ending anywhere but in tears....

You are 100% right. The German peeope are sick and tired to blow more and more Euros into the ass of some (southern) Europe countries , only to never see it back.

If they had made an election, Germany would still have the Mark, Nethertland the Guilder, the Fins the Markii.

If the Euro goes tits up, I appreciate it. I don't want to pay for other peoples debts.

The Brits did the right thing to stay out of the Fucking Euro.

[jimslim]

(PigDogg @ May 09 2012,19:46)

(BlueBallz @ May 08 2012,09:39)   He also wants a top tax of 75%.  Have these people not learned a thing?  This is madness.

The govt should not confiscate more than 50% of your earnings.  Its immoral.  When the there are too many fleas and leeches on the dog, the dog dies.......................................

The way ole PigDogg sees it, the leeches are the permanent power elite of all countries.

I think it's immoral that a government needs to bailout Goldman Sucks and other too big to fail institutions yet the bigwigs at these outfits receive compensation hundreds of times greater than Joe the Plumber and Fred the Fireman and Nancy the Nurse.

Well said  brother Piggdog  

One thing that never changes around here is the right wing politics of a few  

I dreamed I saw Joe Hill last night ...........

http://www.youtube.com/watch?v=f_yC4ffyGiw

[TEXASMAC]

When I was in LOS in February all I read about was the up coming problems in PIGS ...


Portugal
Ireland
Greece
Spain

The papers said 1 of those 4 would cause the death of the Euro.

Now France??

[BlueBallz]

Who the fuck says that we have to bail out anyone?? Maybe if they are too big to fail they are too big to exist. When the fuck are some of these cretins going to be LOCK UP?? How the hell that crook Jon Corzine is out walking around free is beyond me.

BTW we have spent north of 5 TRILLION dollars on the leeches sproutnig from LBJ's "Great Society" . It has, barely, improved things and has created a permanent underclass.



Did youse hear about that guy who had 30 kids from 11 different brood sows?? Fucking hell. If some of you bleeding hearts want to feel badly for them/help then why dont you move that clan into YOUR HOUSE!!!!!!!

[kevin4252]

I believe the proper term would be "brood mare(s)" brother BB.

[azza33]

@Torurot

We all blame investments banks for the GFC...

I have a different view...surprise surprise..

Its all the Fucking morons put there that decided their houses were no longer homes but investments... one giant ponzi scheme whereby people scrambled over each other bidding up prices not caring what they paid because capital appreciation would always cover things.... then they foundout it doesn't always go like that.
Problem was interest rates were too low for too long and this just made things worse.

Investment banks merely packaged the loans and unsold them to investors who wanted to believe in the same Ponzi scheme.

AIG was so confident in the scheme it decided to offer insurance over these products without tangible asset cover....

When the greatest Ponzi scheme ever devised fell over even the investment banks holding packaged mortgages got nailed as they became toxic

so who is responsible?

id argue Joe public caused the mess! their insatiable greed to acquire property 1,2,3 or more ...at any price.
this is a chicken and egg argument... the investment banks just offered a product that the insatiable public needed to continue to fuel their greed.