Archive for the ‘Austerity’ Category

The Greek Referendum – It Aint The End Of The World

Wednesday, November 2nd, 2011

As you have no doubt heard by now, Greek PM, the G’Pap, called for a “citizen’s referendum” to decide whether or not to accept the bailout package offered by the Euroscum last week. You would think this would be considered a wonderful thing – imagine, the citizen’s of Greece deciding the path and future of their country. But that’s not how Euro leaders and the banking cartel see things. Euro leader after Euro leader have denounced the G’Pap, claiming the referendum is “dangerous”, it “threatens all of Europe”, it “doesn’t help!”

Grow a pair, ya bunch of nutless Euroweinies.

Even though Greece is a basket case and deserves every financial hit that’s coming to it, The Mayor is actually impressed that the G’Pap is giving Greek citizens’ the opportunity to participate in Democracy. Because that’s what this is all about when all is said and done. If the Greek’s turn down the bailout package, Monday night football will still be played the following Monday. If they say yes to the bailout, Monday night football will still be played the following Monday. The world won’t end either way.

Let’s say the Greek’s say no to the bailout and Greece defaults, what does that mean for you? Nothing. It’ll mean nothing. However, it’ll be a good kick in the groin to big banks around the world as well as bond holders.

You see, the big banks and the bond holders took a chance by buying Greek debt. If Greece defaults, they lose. You don’t lose, THEY lose. If the Greeks say yes to the bailout, these big banks and bond holders will be covered. By the taxpayer. Greek’s say no, banks and bond holders lose. Greek’s say yes, taxpayers lose and banks and bondholders win. Read that again. And again. Now go read that again.

But, but, but, Europe could fall apart! Then let it.

The big banks and bond holders took a chance on a crappy country and should lose if they default. Taxpayers shouldn’t lose. If you go to the casino tonight and bet all your money on red 34 at the roulette table and lose, that’s tough. YOU pay, not me. Same with the banks and bond holders. They should have been smarter. But to expect taxpayers to fund their bad decisions? Eat me.

The Greek referendum is a good thing – it’s democracy in action. And that’s why the nutless Euroscum hate it.

Good Times Are Here Again

Thursday, August 18th, 2011

US Jobless Claims Up, Gasoline Lifts Consumer Prices

Americans’ satisfaction with the way things are going in the United States has fallen back to 11%, the lowest level since December 2008 and just four percentage points above the all-time low recorded in October 2008.

One in five American children now living in poverty according to new report

United Space Alliance lays off an estimated 500 Houston workers

Pfizer (PFE) plans to lay off 16,300 more employees as it grapples with declining sales of Lipitor, its best-selling cholesterol product, and attempts to meet savings targets promised to Wall Street.

Sears Holdings Corp. is shedding about 250 jobs nationwide this week as the retailer struggles to stanch its earnings decline.
 

Austerity, Bitchez

Thursday, June 23rd, 2011

When you think of austerity, Europe tends to come to mind first. Faced with default, Greece, Ireland, Portugal and a handful of other Euro countries have embarked on austerity measures that have so far proven VERY unpopular. Euro countries that have lived beyond their means for the last 30 years are now scrambling to get their fiscal house in order. Too late though, that train left the station years ago.

Austerity isn’t talked about much in North America, it’s a word that we have reserved solely for the EU. Yet, even though we try to wish it away, austerity is here, and it’s only going to get worse:

Around 450,000 people who work for U.S. states, counties, cities, towns and villages could get pink slips in fiscal 2012, sharply up from the 300,000 positions shed this year, a report said on Monday.

Keep in mind that 450,000 is just the ante; states, counties and cities are going to be faced with a $150 billion deficit in 2012, up from about $120 billion this year. And in keeping with lefty fashion, you can rest assured that the jobs cut and the services slashed will come from places like libraries, schools, parks and campgrounds. Needle exchange programs, diversity wokshops and immigration services will not be touched in the least – after all, THIS is not to time to cut such important services. It is NEVER the time.

If the economy needs to add 150,000 jobs a month in the US just to keep the unemployment rate on an even keel, you can work out the math when you add another 450,000 unemployed to the mix. That pretty much means that an extra 40K jobs will be needed above and beyond the 150,000 that aren’t being created now, just to stay even. That’s not even counting the other massive layoffs that are going to occur in every sector from A – Z next year.

If you still have any doubts as to whether austerity is here, simply go to Daily Job Cuts and scroll down the left hand side until you’re sick to the gut. As an example, here are the austerity cuts from yesterday. Yes, this is just from one day:

St Paul Schools – 300 jobs

TYC – 40 jobs

ST Mary’s Hospital – 14 jobs

 
 
Remember, those job cuts are from yesterday – not a whole week, not a month, but ONE DAY.
 
A minimum half a million more cuts are coming soon. Prepare accordingly.