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oritteropo
(Member Profile)
radxHow indeed.
Draghi's ECB has just made a move and I don't understand why. Come Feb 11th, they will no longer accept Greek bonds as collateral, effectively cutting off one of Greece's last two sources of credit. What remains is the Emergency Liquidity Assistance (ELA) provided to the Greek Central Bank, through which the entire banking system must now get most of its credit.
Why did they do it? Why now? I don't think it has something to do with the Advocate Generals opinion piece the other day, declaring the ECB's membership in the troika to be a conflict of interest and that fiscal policy is not to be used as a tool to influence poltical decision-making.
Could it be pure idiocy like the time they pulled to plug on Cyprus only to backpeddle shortly after? Or might they be trying to force a move on part of Germany and Greece? "Stop messing around and get your ducks in a row NOW." -- that sorta thing? Is it mere posturing of sorts, a shot across the bow of Greece?
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Edit #1
I really don't like this. It looks like disaster, smells like disaster and tastes like disaster. And it's entirely too close for comfort. Are they truly going to turn Greece into a failed-state over principle? The way they casually discuss the lives of nearly 11 million people, and the future of the European Union as well, is bone-chilling.
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In the meantime, Schäuble's meeting with Varoufakis went just as expected, reports indicate. Schäuble won't budge a bit. Negotiations with the troika are mandatory, and fiscal waterboarding must be resumed at once. There will be no compromise, not with him in charge. He'll push Greece off the cliff without blinking even once. Convictions worthy of a Templar, that one. Worth remembering that he admitted taking 100k in bribes from an arms dealer in '94 and still managed to become Minister of Finance. A living legend, just not the kind I'd prefer.
With regards to hyperinflation, most folks over here seem to have forgotten, or maybe they never learned, that Chancellor Brüning's austerity regime led to deflation in 1930-32, pushing unemployment to 23%. What followed was a massive influx in membership and infuence for parties at both ends of the political spectrum, similar to Greece. Except in our case, it wasn't the left (KPD) who won the elections in '32...
I went against your advice and had a look at a DW article on the subject, and I see what you mean, there is quite a big disparity between the accepted position in the article and anything else I've read from outside Germany. I am now also left wondering how on earth any compromise could be made acceptable to German politicians, and then sold to the public. Since Ireland and Portugal are starting to recover despite The Austerity, it's entirely possible that the usual suspects will say "Look! It works!". They do have much more debt now though...
I can understand a certain aversion to excessive inflation, after the chaos caused by hyperinflation in 1923, but you'd think that if they remember that then they'd also remember where that led (and particularly with the rise of Golden Dawn).
A frail, bandaged Dennis Hopper receives his Hollywood star
dystopianfuturetodayA living legend.
http://videosift.com/video/True-Romance-Moor-Children
Werner Herzog: Beyond Reason
TrancecoachI'm an enormous fan of his work.. Loved "Heart of Glass," "Little Dieter Needs to Fly," & "Encounters at the End of the World."
Harmony Korine is a friend of a friend -- and Werner was great in "Julian Donkey Boy."
Several friends were in attendance when "Werner Eats His Shoe."
This man is a living legend. No question.
EndAll
(Member Profile)
kymbosGlad you like it. Just quietly, I have a few Teddy Thompson tunes in my pq, one of which is another Leonard Cohen song, and another is a duet with Rufus Wainwright.
Teddy and Rufus are good mates.
In reply to this comment by EndAll:
>> ^kymbos:
Surely the world's greatest ever song writer. He's a living legend, but I prefer this version more: http://www.youtube.com/watch?v=hy0Bl18qLvw
Sheeeit, so do I, now! Thanks for that! He sounds very slightly like Rufus Wainwright.
Leonard Cohen - The Future
EndAll>> ^kymbos:
Surely the world's greatest ever song writer. He's a living legend, but I prefer this version more: http://www.youtube.com/watch?v=hy0Bl18qLvw
Sheeeit, so do I, now! Thanks for that! He sounds very slightly like Rufus Wainwright.
Leonard Cohen - The Future
kymbosSurely the world's greatest ever song writer. He's a living legend, but I prefer this version more: http://www.youtube.com/watch?v=hy0Bl18qLvw
KRS-1 on Fox with Neil Cavuto - The Real Hip-Hop Network
mickd1337 says...Krs is a living legend.
The Devil and Daniel Johnston - Trailer
dw1117This guy has had an incredible life. His songs have been covered by bands like Nirvana and his artwork has been in high demand for years. To say the least this guy is a living legend in Austin and thats just a few reasons why they made a documentary about him. Here is his wiki article.