Thursday, July 02, 2015

What's It All About Then

Sadists and sociopaths, basically.

“At the same time, a Grexit would be traumatic enough that it would help scare the rest of Europe into giving up more sovereignty to a stronger banking and fiscal union,” Mr. Geithner wrote. “The argument was that letting Greece burn would make it easier to build a stronger Europe with a more credible firewall.”

Fast-forward three years. What Mr. Schäuble articulated that summer afternoon to Mr. Geithner is finally taking shape.

And handing complete control to the banksters, of course.

Greece needs a sign saying "people live here." Not that any of the people in charge actually care.


It's always cute when Fred Hiatt's crayon scribblers pretend to care about human rights and silly stuff like that. Pretty sure we engage with plenty of countries with appalling human rights, though admittedly quite often mostly with respect to women so who really cares, and that rarely troubles their beautiful minds.

The Donald

He's doing well in the polls because conservatives exist mostly to piss of liberals, though they're very bad at understanding what actually pisses us off. We point and laugh at the Donald as a person, even if his (until recently) mainstreaming has been troublesome. He's a clown, but he's their clown. Have fun!

Rescue thread

It's cooled down in London and the sky is hazy. This is actually preferable to 95 degrees F in a country where no one has air conditioning because you don't usually need to get cooler.

Meanwhile, see if there's something interesting to read here.

Wednesday, July 01, 2015

He Cannot Tell A Lie

All aboard the tire swing.

Happy Hour Has Arrived

Afternoon Thread

Busy with stuff today so sucky blogging.

Do Not Disobey

Compromise means give Merkel everything she demands. Don't they understand that?

America's Worst Humans

Andrew Cuomo.

Morning Thread

Here's Echidne with some short posts, including a link to a twitter conversation with the author of FIFTY SHADES OF GRAY that went terribly wrong. Or right, actually.

Tuesday, June 30, 2015

Tuesday Night

It's alright.

I Don't Think Companies Can Afford These High Pensions

Better cancel them. It doesn't matter what the contracts say.

Happy Hour Thread


But I Thought He Was A Truth Teller?

So this is unpossible.
My testimony amounts to a warning: Don't believe a word the man says.

If you have the stomach for it, this column offers some greatest hits in Christie's catalog of lies.

Don't misunderstand me. They all lie, and I get that. But Christie does it with such audacity, and such frequency, that he stands out.

He's been lying on steroids lately, on core issues like Bridgegate, guns and that cozy personal friendship with his buddy, the King of Jordan. I'll get to all that.

But It Wouldn't

Dean does the heavy lifting here, but while pissing of the ECB might mean that the ECB stops bailing out the people who lent money to Greece (HAHAHAHA no really it's possible), they can't stop Greece from using the Euro. Greece doesn't actually have to return to the Drachma. Odds are in the short run the government would find it necessary to print scrip or similar temporary currency to pay its bills and wages, nothing realistic can stop the Euro being the primary currency in Greece or to stop it from circulating there. If people want to use the Euro, they'll use the Euro, whether or not the ECB stops taking their calls.

Neither A Borrower Nor A Borrower Be

You lend money at a risk premium. Borrowers pay that risk premium for a reason. That reason is that they might stop being able to pay. Then you eat the loan. That was how it was supposed to work, anyway.
Puerto Rico Gov. Alejandro García Padilla on Monday portrayed his territory’s economic condition as even more dire than previously revealed and in a televised address appealed to Washington to make unprecedented, “concrete” changes in bankruptcy rules to help rescue the island’s finances.

Groaning under at least $73 billion in debt, Puerto Rico — which is being called “America’s Greece” — is staggering down a path toward default, a scenario that could ripple across cities and states that depend on bonds for building everything from schools to stadiums.

The banksters are supposed to be genius financial intermediaries, properly pricing risk and making loans accordingly. It seems that they aren't very good at their jobs? I suppose it depends on whether that really is their job.

Shorter WaPo Editorial Board

The people must beg for the beatings to continue.

Greek readers should be aware that doing the opposite of what the Washington Post Editorial Board demands is generally a pretty good rule of thumb.

Cunning Plans

Decree that your property can't be used for what it was clearly designed for and avoid paying taxes. Genius.
Trump Entertainment Resorts has filed a deed restriction for the casino, which closed last September, preventing it from being used again as a casino for at least a decade. It could still be used for another purpose.

The move was done to avoid potentially higher taxes under a bill Gov. Chris Christie could sign soon allowing casinos to make payments in lieu of taxes for 15 years as part of an Atlantic City rescue plan. The bill applies to any property that was licensed to operate as a casino in 2014 and that does not have a deed restriction. Trump Plaza operated for 8½ months during 2014, and the company feared it might be included in the alternative tax program.