Wednesday, May 30, 2012
Submitted by Tyler Durden:
What is it about IMF heads and inserting foot, or some other appendage, in mouth, or some other orifice?
The Forelash (sic): It's payback time: don't expect sympathy – Lagarde to Greeks
Using some of the bluntest language of the two-and-a-half-year debt crisis, she says Greek parents have to take responsibility if their children are being affected by spending cuts. "Parents have to pay their tax," she says.Lagarde, predicting that the debt crisis has yet to run its course, adds: "Do you know what? As far as Athens is concerned, I also think about all those people who are trying to escape tax all the time. All these people in Greece who are trying to escape tax."She says she thinks "equally" about Greeks deprived of public services and Greek citizens not paying their tax."I think they should also help themselves collectively." Asked how, she replies: "By all paying their tax."Asked if she is essentially saying to the Greeks and others in Europe that they have had a nice time and it is now payback time, she responds: "That's right."
And the Backlash: Christine Lagarde, scourge of tax evaders, pays no tax
A 61-year-old Greek pensioner has hung himself from a tree in a public park after succumbing to the pressure of crushing debt. A note in his pocket indicates he is merely the latest in a rash of economic crisis-induced suicides.
The pensioner’s lifeless body was found dangling by an attendant in a public park not far from his home in the suburb of Nikaia, Athens. The attendant also found a suicide note in the man’s pocket, The Athens news reports.
The man, identifying himself as Alexandros, said he was a man of few vices who “worked all day.” However, he blamed himself from committing one “horrendous crime”: becoming a professional at the age of 40 and plunging himself into debt. He referred to himself as a 61-year-old idiot who had to pay, hoping his grandchildren would not be born in Greece, as the country’s prospects were so bleak.
“Greece will be wiped off the map! Unless of course there was a politician with [Margaret] Thatcher’s balls so as to put us and our state in line,” he lamented.
WikiLeaks founder Julian Assange has lost his marathon court battle in UK Supreme Court. The judge has granted him 14 days to make an application to reopen the extradition case.
China and Japan are scheduled to start trading in their own currencies Friday. The Japanese Finance Minister came out with this news. This allows traders to trade in Yuan and Yen without first converting them into Dollars. So, we'll talk about what this means for the us dollar: the global reserve currency. Are we headed towars a world where no single currency reigns supreme -- an end to what French President Charles De Gualle famously recognised as America's "exorbitant privilege?"