29 July links: Farce goes on





Greece 2 Year 5 Year 10 Year
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Germany 2 Year 5 Year 10 Year




    • Different China Fanboy

      The trouble with ZH is finding the genuinely good stuff among the ordinary stuff and the truly nutty and tin foil hat stuff. The good stuff is there but it gets crowded out.

  1. Republican controlled House delays vote on their debt ceiling bill, but they managed to vote on something equally urgent:
    “The House was nearing the end of its debate on the legislation when Republicans suddenly shifted gears. They instead moved to a bill renaming a post office in Peoria, Ill.”

  2. I just want to understand one thing. The Republicans are supposed to represent the rich and ruling elite. Won’t they get smashed to pieces through lower share prices and asset values if they allow a default? It seems all arse over tit to me.

  3. Speaking of farces – the carbon tax. This government is a disgrace.


    Up to 10 years jail???? FFS. The Green totalitarian influence is showing. What next, Wally Walpamur’s congestion tax will require congestion tax cops – cars confiscated, drivers imprisoned. Where are we heading. Even the recent changes to enable greater scope for legal action under the privacy act. Dictatorial, freedom limiting, dysfunctional: The Brown-Gillard Government.

  4. “A friend has pointed us to a recent blog entry by David McElroy, reporting on a businessman in Birmingham, Colorado, who upon attending a town council hearing on environmental regulations, ‘went Galt’ in disgust on the spot. This is another example for how the so-called ‘regime uncertainty’ we have previously discussed has begun to increasingly bedevil business activity in the US. Here is what the man said:

    “My name’s Ronnie Bryant, and I’m a mine operator…. I’ve been issued a [state] permit in the recent past for [waste water] discharge, and after standing in this room today listening to the comments being made by the people…. [pause] Nearly every day without fail — I have a different perspective — men stream to these [mining] operations looking for work in Walker County. They can’t pay their mortgage. They can’t pay their car note. They can’t feed their families. They don’t have health insurance. And as I stand here today, I just … you know … what’s the use? I got a permit to open up an underground coal mine that would employ probably 125 people. They’d be paid wages from $50,000 to $150,000 a year. We would consume probably $50 million to $60 million in consumables a year, putting more men to work. And my only idea today is to go home. What’s the use? I don’t know. I mean, I see these guys — I see them with tears in their eyes — looking for work. And if there’s so much opposition to these guys making a living, I feel like there’s no need in me putting out the effort to provide work for them. So as I stood against the wall here today, basically what I’ve decided is not to open the mine. I’m just quitting. Thank you.”

    The bureaucrats are killing the goose that lays the golden eggs, everywhere in the regulatory democracies in the West. We have previously mentioned the thicket of red tape and taxes emanating from Brussels and the nation state legislatures and bureaucracies in the EU, but it appears that the US is now in an increasingly similar situation. This is one more reason to be wary of the stock market as it were.”

    Send this to the Brown-Gillard government. What in the hell are they doing?

    Real people, right now.