Archiv für den Monat: Juni 2011

The things one sees and the things one does not see.

An exemplary example:
http://blogs.ajc.com/jay-bookman-blog/2011/06/17/gas-farm-labor-crisis-playing-out-as-planned/

Indeed you may say. The poor farm workers. The are exploited so bad farmer. Now the food gets wasted now if that happens all over the US what would you think will happen.
Exactly the prices for food will explode. So let’s assume there were 30 000 “illegal” workers. This term alone is “indicative” Who decides that. Ah yes the government. And still more and more illegals are still working. It seems the exploitation is not that harsh as one might expect.

Now where have this “illegals” gone”. I bet not 10 % of them have gone back to whereever they had come. I bet the leaved Georgia and worked elswhere. The probability that they have to work for even less money than in Georgia are not neglectable. And so instead of 60000 less exploited illegals, they even get more exploited.

The things one sees vs the things one does not see….
Someone somehow always pays the bills…

Nicht in meinem Namen

Also Schäuble und die Banken verhandeln. Was ist passiert braucht der Staat mal wieder Geld oder müssen wir die Banken mal wieder “raushauen”. Nein Irrtum es geht um Griechenland. Nun denn was haben  der Finanzminister und die Banken mit Griechenland zu schaffen. Der Schuldner ist doch Griechenland also warum verhandelt unser Finanzminister mit unseren Banken über noch nicht einmal unsere Schulden?

Nun denn Schäuble hat dafür eigentlich keine rechtliche Grundlage denn noch immer gilt §125 AEUV. Also nicht mit “bail-out”. Die Banken sind Ihren Aktionären verpflichtet und  diese haben nun mal ein legitimes Interesse das Gläubiger der Bank Ihre Schulden bezahlen. Also es ist völlig legitim wenn die Banken über die von Ihnen gehaltenen Anleihen verhandeln aber nur mit GRIECHENLAND.

Jetzt geht es um folgendes. Die Banken sollen faule Schulden der Griechen übernehmen, was eine Bank nicht machen würde wenn nicht ja jetzt kommt das grosse WENN es nicht irgendwelche Sicherheiten gibt. Nun welche Sicherheiten kann Schäuble Ihnen bieten. Wird der Bundesvermögen verpfänden? Wohl kaum es geht um Steuergelder und vieleicht auch um neue Geschäfte für die Banken wenn der Staat mal wieder Anleihen ausgibt.

Also hier  kungeln 2 um Kosten  die Sie auf Dritte  abwälzen und das nennt man Willkür. Der Staat hat kein Verfügungsrecht über das Vermögen seiner Bürger und die Banken haben ebenfalls kein irgendwie geartetes Recht in unsere Taschen zu greifen wenn es nicht um ein Geschäft zwischen uns und der Bank geht.

Also egal  was da raus kommt, ich bin dagegen. Und vor allem völlig dagegen wenn es mal wieder an meinen Geldbeutel geht.

Was Greece saved?

The Greek Parliament has agreed and will get another few billions.

Has this changed the fundamental problem? Well let us assume the Greeks really will be able to sell of a few “assets”. How often are you able to do that? Exactly one time.
Now if still the income is not sufficient without this sellings, what will happen then? Now if the Greek have a deficit of more than 10 % in their budget and the selling just bring in this 10%, what
have they won then?

Next years they have the same amount of debt. They have not paid principal they just have used the money for the runnings costs. Well lthe stuff is sold and what now?

Let us assume they do nothing else to make the gap between expenses and income smaller. Then in fact they are worse of next year. They have lost “assets” which potentially can be profitable. But this “profits” are “gone”.

No it’s playing on time. One hopes that in year or so everything will be better. But how will that be done. How many new production lines can one open in a year. And what should they produce? They have not find a way of producing enough for the last 10 years but next year everything will be “solved”?

What you see is what happens if government takes it all. Too many bureaucrats to less productive workers. The result is obvious and still do they start changing that? Well it seems unemployment is on the raise. And now guess what government can not extend the expenditures and if you’d produce in Greece and Greece may default. What will happen to your products. Assume they will get buyed mostly in Greek and the people are unemployed and government also can not afford anything. What are your chances then?

Now without a really reduction of the debt and without budget surplus they have no chance. As I wrote just the payments last year and this year are probably twice as much as every Greek earns a year. So the debt will probably raise up to 180 – 220 % of the GDP and Greek is not known of being a big exporting country. Indeed they earn their money more or less with tourism….

Here are the economic figures of Greek according to http://www.querschuesse.de/griechenlands-industrieproduktion-im-marz-2011-mit-8-zum-vorjahr/ the production has gone down around 8% !!!
the output is down to a level from 15 or so years ago !! the producing part on the BIP in Greece is as low as 9,17%, the overall BIP is something around 320 billions, 10 % of it are 32 billions. Their debt is somewhere in the 400 billion region. Just with 5% interest they would have to pay 20 billions on interest. Fact is the interest they have to offer on the markets are somewhere above 20 % !!!
The import/export budget is 4/2. That means the Greek have to import much more than they could produce. I have not found any figures about the capital in/outflows. But I bet those Greek having something have brought their money abroad. And so tell me whose going to invest then?

A sound rescue looks a bit different to me….

Das Elend geht weiter

Nun  das griechische Parlament hat abgestimmt und so werden wohl wieder ein paar Milliarden flüssig gemacht. Ich gehe jede Wette ein: “Es werden nicht die letzten Milliarden” sein. Wenn der ESM Wahrheit wird dann gibt es für die Bürokraten kein Halten mehr. Außer die Pleite fast aller Europastaaten.

Und immer noch dürfte fesstehen Griechenland hat kein Liquditätsproblem sondern ein Schuldenproblem. Selbst wenn durch Verkäufe Geld in die Kassen kommen sollten, ist das immer nur einmal möglich. Man kann eben etwas nicht mehrfach verkaufen. Was wenn dann die Ausgaben  nicht den Einnahmen angepasst werden. Was bleibt dann?

Ich bin überzeugt weitere Milliarden Schulden brauchen die Griechen sicherlich nicht…

Really bad news

Mrs Lagard will follow Strauss Kahn.

http://mises.org/Community/blogs/fdominicus/archive/2011/05/23/thanks-but-not-to-mrs-lagarde.aspx

Oh well now we have another potential defrauder and definitive a centralist at the top if the IMF. Now I bet Greece will get some more money, even if
the IMF has guide lines which would forbid that.

Now we have new centralists and monetary policy believers in the ECB and the IMF. That’s so sorry fucking bad, that I could just cry

So we’ll see new establishemnts of lendors of las resort, stuffed with tons of “new debt”. No state has some money left to pay for it without new credits. So the money avalanche will get bigger and bigger.
I just kindly remind you of: http://mises.org/Community/blogs/fdominicus/archive/2011/02/03/my-predictions.aspx

It gets more and more nightmarish….

Kurze Hinweise

Zu den ach so tollen Griechenlandanleihen:
 http://blog.jan-filter.de/2011/06/25/kauft-den-ramsch-doch-selber/

Dazu dieses Blog:
  http://fdominicus.blogspot.com/2009/10/done-i-sold-last-asset-from-country.html

Das ist auch schon wieder fast 2 Jahre her. Es bleibt dabei, kaufen Sie keine Anleihen irgendeines Staates. Sie haben  es im Geldbeutel. Jeder gegebene Kredit für einen Staat ist ein  Kredit mehr für die Totengräber der Freiheit. Für die nur gilt. Der Staat ist gut, der Mensch schlecht….

If there is one common thing in the works of the politicians

in the EU and USA it’s the ever expanding raise in laws against freedom and limiting liability.

As you can read also here:
http://mises.org/Community/blogs/tokyotom/default.aspx

But know there is a new negative record in the making of the ESM (European Stability Mechanism) . Unfortunatly despite search for an english version I just found an inofficial German translation.
In short: A new agency, with immunity of all in the governments boards without any democratic legitimation. As soon as I find the english version of it I’ll post it here.