Humble Value Miner

Humble Value Miner
Contributor since: 2011
Also criticizing Merkel will be prohibited (already it is at eu government level) and they will rename soon to Facepravda... :)
For diversification, what other pipelines mlp you'd suggest apart KMI ?
It's not exactly the same thing. The problem in Eurozone is that Germany (as it always did: this resulted in a sane revaluation of the DM, before the Euro) compresses salaries (salaries have grown 20-30% less than peers countries, despite the huge gains and the huge commercial surplus). Now 1 million Sirians are welcomed by Merkel = even less salaries. Meantime, the German surplus is sur-minus in France, Italy, Spain: unemployment, austerity and every day low and lower salaries. How can this generate inflation?
As long as the weak and slave Eurozone governments will continue to blindly follow Angela, the music can't change.
Italians do NOTdrink what you call "regular coffee". Italians call "regular coffee" what you call Espresso... oh well... what you call Espresso most times is black and bad tasting water ;), and this even in France and Spain... it is frankly very difficult to drink good coffee outside of Italy.
Sorry but I couldn't resist! :)
But maybe they can sell some Cappuccino... this is the preferred drink when you want to drink more liquid than a espresso... but the normal price for this is far below what they are able to charge elsewhere... and you must do a damn good Cappuccino to move Italians out of their usual bar caffè...
Well they have even a different language. But I don't believe there is hate, simply the Eurozone deflation trap is propelling unemployment that is fertile ground for nationalism. We have already seen this movie in Yugoslavia (1990s) and Germany (1930s). Same cure (austerity) same effect.
At 150B per year it is 4 years before crash
If somebody talks like a nazi and walks as nazi, it's probably a nazi.
It was certainly strongly "deplorable" for the Troika to hide the last IMF report about the unsuitability of the greek debt, and the stop on the ELA (while the ECB said the banks are solvent) is a violation of the EU treaties - done to blackmail the Greek people before the referendum.
I was a EU supporter from the start, but this is not the kind of Europe our parents worked to build. This is going to be a kind of URSS or a kind of IV reich.
Also increasing the retirement age for IMF and BCE from 50 55 to 67 will be appreciated. They for sure don't want to give bad example by retiring before the current Greek retirement age...
Actually a silent run on the banks has been in place for months.
Oh yes they'd better follow the troika, everybody knows that in 2000, with the dracma, greek cars worked with coal as oil was too expensive, nobody received pensions, and televisions and telephones were only for the rich. With the very good troika plan, and rhe economy devastated and more than 30% unemployment, and government with 350B of debt, going on this way pensioners won't need toilet paper because they won't have the money to eat anything, and so problem solved.
So UE is the IV Reich, where you can vote, yes, but only provided that your vote follows fuhrer Merkel suggestions. This is fascism. The UE was founded for the opposite reason... the Founders would be very proud of us, selling our souls to the Euro God.
"People who want to help them"
You must be kidding.
The troika "helped" Greece to reach 30% unemployment.
Maybe they don't want to be "helped" to reach 70% like Yugoslavia in 1991 (the IMF memorandum for Yugoslavia was the same austerity failed in Greece and elsewhere)... then the nationalists come and the civil war begins...
If you don't learn from Hystory, it repeats
The FMI itself just produced a document, leaked by the Guardian, that says that themGreek debt *is* unpayable.
You are misinformed. The Troika austerity program increased debt from 110% to 180% of the GDP, unemployment is 30% (and more than 50% for the young) and the troika wants to continue this way: next they want them to increase VAT and similar recessive actions.
This on the top of a debt that with the Eurozone current lackluster "growth" would take 100 years to be repaid. The only thing that the Troika managed to do well (at the expense of the EU taxpayer, courtesy of frau Merkel) is to reduce the exposure to Greece of French private banks from 80 to 1 billion, and from 65 to 1 for German private banks (DB included).
Varoufakis is just saying: we should go Ch11 but we know that the damage for the EU could be big. We offer you the chance to pay and avoid this. Or we will go Ch11.
V + T are the only 2 EU politicians that try to work for their citizens, while Hollande, Raioy, Renzi basically sold their souls to Merkel.
If they reach a 0% balance / net advance, they won't need to borrow money.
IMF's plan asks for a +2.5% (for servicing the debt; and they want them increasing VAT and decreasing wages, so only God knows how to obtain +2.5% by depressing an already deprrssed economy)
So 0% "out" is definitely more easy to reach than 2.5% "in".
If I am a drugs addict, you know I am, and you give me money, you can't blame if you won't see any money back.
The only suicide is to remain in the Eurozone. Even the US dollar would be suicide for the 52 States in case of no federal compensations/transfers, common fiscal policy, common goverment and common basic welfare. California would be worst than Greece.
Greeks won't do so bad after the exit.
The big problem is for the EU as the Euro becomes reversible.
Well actually this is a problem for Germany, the only country that gains from the Euro. For the others a Euro-exit will be the end of the depression.
No they're happy with 30% unemployment and they would like to go more fast to 70% like Jugoslavia in 1992, where same austerity policies were applied by IMF. They really can't wait and want to enjoy from the fireworks... (remember Jugoslavia in 1992?)
And who bombed Lybia and killed Gaddafi without any plan for the day after? He managed to keep most of them there, when in life.
Real capitalism doesn't rescue private banks with taxpayers money. Neither real socialism (where banks are not private).
By the way, in EU, like artists, they rescued French and German banks while saying they were helping Greeks. This seems to me diabolic rather than capitalist or socialist.
Nowadays EU is more nationalsocialism (fascism) than socialism.
Otherwise I won't undestand the big expenses for the new EU and BCE offices, when in Greece people deads and the answer is "change your government" (= replace them with the usual yesman that will execute the "successful" and "excellent" eu and fmi policies....)
"Greece's new leftist government had "destroyed" all the economic improvements achieved by Athens since 2011" what bronze face, they destroyed Greece and its economy with years of austerity and they blame a government that has just one month. And what "economic improvements?"
They want to scare the Greeks and the other dumb eu governments. The money borrowed by Greeks (subprime credit from French and German banks & morr) was used to purchase German and French goods, but the banks were rescued with the first EU "bailout" and now all the EU taxpayers (including Greeks - a lot of money has been drawn from Greeks taxpayers in these years of austerity) will pay. Private profits and public losses, as usual.
Alfa Romeo has always been a superior car, clearly you did never drive one. The brand suffered the abolition of the Deutschmark like any other manufacturer not located in Germany, and on top of this the EU austerity that depressed the car sales and put into red any small scale production. Well also big productions.
By the way Mercedes sinked Jeep and was never able to have profits, while Fiat/Marchionne is reaching numbers in the millions (never seen by the brand) and has added to the brand the robust and gas-saving Italian engines - with them you have far more mileage than with the aluminum-made Ford trucks. Also, these Jeeps are selling well in Italy - despite the recession.
I think FCA has a good management and is extracting the best of both words, so your old fashioned sterile nationalism is out of place...
Apart inventing and promoting the stupid and stubborn austerity policy, Germany is eating EU with its excess surplus: each year $250B+ surplus, and same output amount of industries in france italy spain are closing out. This thanks to the Euro-Mark that makes them able to exploit their traditional export competitors, just like they were using a devalued currency (most of Germany export is within Europe, and yes VW quality is no longer what it used to be... maybe because most of the profit goes to bankers and top industry barons and not to the genuine German workers - the German worker got the mini-jobs where you work part time at BMW paid 400 euro per month... I guess you won't do a terrific good job so... :) ).
In addition to this, with the single currency there is no exchange risk so their banks (often with the purpose to sell German goods) offered subprime credit to those lazy Greeks and Spanish and so on. The German goods were sold, the credit became bad but the banks were rescued for free with the EU taxpayers money, and now we blame those pesky Greeks because they took the money they could not afford (and everybody knew they could not afford).....
People is stupid but, maybe too later, they are realizing what it happened...
Most people were enthusiast about Europe, now this enthusiasm has become scare: a dream that suddenly becomes a nightmare, were people still want to be in Europe and Euro only because they are scared about apocalyptic exit consequences (a catastrophe that is probably only propaganda: the UK is out from the Euro and they are doing fine). Thank you Merkel and Weidmann.
I don't know about default, but to stay within the euro won't do any good.
I think he's talking about The debt, not the Greeks!
So in 10 years we will do what we couldn't in last 50?
All these guys are not in the oil field since yesterday. They will cut distribution an capex to what is reasonable to manage debt, they will develop only what is ok at these oil prices, and will wait for a rebound. It is happened in the past and it will happen again.
Most are hedged and these hedges do provide sufficient cash for the existing projects *AND* they are a good incentive to those big banks or purchasers that are the hedge counterpart to manipulate the oil price again in the up direction.
ok but it is unlikely they sell tomorrow. They just registered for selling, as a due act. If they sell tomorrow they must have married Harold Hamm ex-wife, so that the BBEP units still owned are peanuts... :)