A quick update regarding sovereign freedom and financial abuse

[squigglyline]

I love a good LJ thread.

agreed!

[Stew Nod]

Stubbed toe.... amazing, punting the cement filled coffee can 6 feet down the road.

http://www.marketwatch.com/story/cyp...rts-2013-03-24

IBG-YBG...same old shit on wall st...nothing has changed

http://blogs.worldbank.org/publicsph...-youll-be-gone

[MatthewT]

don't tell me Longhorn's buyin' into the TINA DOW?


There
Is
No
Alternative



(and there's trillions of newly printed bills flying around)

[LonghornJ]

So here we go... opening day

Capital controls
Armed security outside the bank
Barter trade banned...

http://www.cnbc.com/id/100594872

How quietly would you sit for such a thing?

[Daveindiego]

King Krugman said that Cyprus should leave the Euro. Now.

[LonghornJ]

King Krugman said that Cyprus should leave the Euro. Now.

Link before I comment... Krugman should leave his keyboard, regardless.

[Daveindiego]

Link before I comment... Krugman should leave his keyboard, regardless.

Really, you didn't see that? Hold on, I'll find it.

[LonghornJ]

Really, you didn't see that? Hold on, I'll find it.

I don't read his bullshit...

[Daveindiego]

http://www.businessinsider.com/paul-...he-euro-2013-3


KRUGMAN: 'Cyprus Should Leave The Euro. Now'
Matthew Boesler | Mar. 26, 2013, 5:13 PM | 5,783 | 32



AP
In his latest for the New York Times, Paul Krugman weighs in on whether Cyprus would be better off without the euro.

Krugman says he's been challenged by someone he respects to take a position on the issue.

Thus, he writes:

So here it is: yes, Cyprus should leave the euro. Now.

The reason is straightforward: staying in the euro means an incredibly severe depression, which will last for many years while Cyprus tries to build a new export sector. Leaving the euro, and letting the new currency fall sharply, would greatly accelerate that rebuilding.

If you look at Cyprus’s trade profile, you see just how much damage the country is about to sustain. This is a highly open economy with just two major exports, banking services and tourism — and one of them just disappeared. This would lead to a severe slump on its own. On top of that, the troika is demanding major new austerity, even though the country supposedly has rough primary (non-interest) budget balance. I wouldn’t be surprised to see a 20 percent fall in real GDP.

Krugman's argument is similar to that made by Moody's on Sunday night, when the credit rating agency said Cyprus was still at risk of defaulting on its public debt and leaving the common currency.

The chart below from Moody's shows just how integral to Cypriot economic growth the banking sector there has become.

Cyprus financial services sector growth driver

Eurostat, Moody's calculations

Krugman points out that since capital controls are already in place in Cyprus – as the country braces to re-open its banks and commence a run on deposits – there's not much left to lose on that front.

"So if I were dictator, I’d just extend the bank holiday long enough to prepare for the new currency," says Krugman.

Read his full take at the New York Times >

[Daveindiego]

I don't read his bullshit...

Everything he says is true.

[LonghornJ]

http://www.businessinsider.com/paul-...he-euro-2013-3


KRUGMAN: 'Cyprus Should Leave The Euro. Now'
Matthew Boesler | Mar. 26, 2013, 5:13 PM | 5,783 | 32



AP
In his latest for the New York Times, Paul Krugman weighs in on whether Cyprus would be better off without the euro.

Krugman says he's been challenged by someone he respects to take a position on the issue.

Thus, he writes:

So here it is: yes, Cyprus should leave the euro. Now.

The reason is straightforward: staying in the euro means an incredibly severe depression, which will last for many years while Cyprus tries to build a new export sector. Leaving the euro, and letting the new currency fall sharply, would greatly accelerate that rebuilding.

If you look at Cyprus’s trade profile, you see just how much damage the country is about to sustain. This is a highly open economy with just two major exports, banking services and tourism — and one of them just disappeared. This would lead to a severe slump on its own. On top of that, the troika is demanding major new austerity, even though the country supposedly has rough primary (non-interest) budget balance. I wouldn’t be surprised to see a 20 percent fall in real GDP.

Krugman's argument is similar to that made by Moody's on Sunday night, when the credit rating agency said Cyprus was still at risk of defaulting on its public debt and leaving the common currency.

The chart below from Moody's shows just how integral to Cypriot economic growth the banking sector there has become.

Cyprus financial services sector growth driver

Eurostat, Moody's calculations

Krugman points out that since capital controls are already in place in Cyprus – as the country braces to re-open its banks and commence a run on deposits – there's not much left to lose on that front.

"So if I were dictator, I’d just extend the bank holiday long enough to prepare for the new currency," says Krugman.

Read his full take at the New York Times >

This, right here, should prove to you what a two bit hack this motherfucker is.

What an obtuse snake in the grass. He now says deflation will be the best thing for the Cypriots in the long run, in spite of short term pain.

Well wake the fuck up Paul, Dave, et al... deflation is not necessarily a bad thing. Jesus fucking Christ... this Krugman is still sucking Keynes dick with no spit in his mouth anymore. He knows... I know he knows. Yet he still lies to you, saying pump pump pump in America while he watches Europe collapse.

This guy is unbelievable.

[Daveindiego]

This, right here, should prove to you what a two bit hack this motherfucker is.

What an obtuse snake in the grass. He now says deflation will be the best thing for the Cypriots in the long run, in spite of short term pain.

Well wake the fuck up Paul, Dave, et al... deflation is not necessarily a bad thing. Jesus fucking Christ... this Krugman is still sucking Keynes dick with no spit in his mouth anymore. He knows... I know he knows. Yet he still lies to you, saying pump pump pump in America while he watches Europe collapse.

This guy is unbelievable.

This has pretty much been his argument all along.

How can you argue with the basic premise of Keynes? Even Milton Friedman finally conceded that he was right.

[gwartney]

So here we go... opening day

Capital controls
Armed security outside the bank
Barter trade banned...

http://www.cnbc.com/id/100594872

How quietly would you sit for such a thing?

Good thing they have gun control.

[LonghornJ]

This has pretty much been his argument all along.

How can you argue with the basic premise of Keynes? Even Milton Friedman finally conceded that he was right.

I guess your reading comprehension is lower than I give you credit for.

[Stew Nod]

Switzerland is next...so says zerohedge....this seems to about making tax evaders pay up, in a sense