Central Perk: 13 apr. 2013

sâmbătă, 13 aprilie 2013

Mish's Global Economic Trend Analysis

Former Portuguese Prime Minister Says "Portugal Cannot Pay Its Debts", Calls for "Argentine-Style Default"

Posted: 13 Apr 2013 09:35 AM PDT

It's rare to hear any bit of common sense from political leaders, but today I have a sterling example. Mário Soares, Prime Minister of Portugal from 1976-1978 and 1983-1985, and the 17th President of Portugal from 1986 to 1996 speaks the truth.

Soares says "Portugal Cannot Pay Its Debts". He calls for an "Argentine-Style Default", and states "The desire please chancellor Merkel is ruining the country."

"Portugal can not pay what you owe and however much they impoverish people, however much they steal the money to people who have it, not be able to pay what you owe. And when you cannot, the only solution is not pay. " The president of Portugal, Mario Soares socialist argues that it is impossible for Portugal to return all of its foreign debt. So has asked to make a Argentine-style default to avoid economic collapse.

"Look at Argentina, was in crisis when he said we do not pay. 'And something happened?" Asks Soares. "No, nothing happened," he says in an interview with Antena 1, which airs tonight and that includes the Business Journal.

Soares, who was also prime minister, has called for the overthrow of the government, has criticized the European Commission president, José Manuel Barroso and launched a series of warnings to the President of the Republic, Cavaco Silva. The former head of state also defended as imperative the change in government and an end to austerity.

"This desire to be useful to Mrs Merkel, are ruining the country and forcing him to sell everything. In two years, this government has destroyed almost everything in Portugal," he says.

For Soares, "any politician with an ounce of common sense when booed-as are the government every day, calling them thieves, should have the dignity to leave. But they cling to power," he concludes.

Sooner or Later

Sooner or later some politician is going to run on that exact platform and be elected. Alternatively, a politician will decide the same thing while in office.

Eurozone math practically guarantees that outcome. For further discussion, please see Eurozone Math; One Size Fits Germany; Door Number Two.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Why I'm not giving the Weekly Address

Hello, everybody --

Each week, like many presidents before me, I sit down to record a short address to the nation. It's something I take very seriously because it offers a chance to bring focus to an issue that needs to be part of the national dialogue.

But today, I've asked someone to take my place.

Francine Wheeler is a mother. She and her family live in Newtown, Connecticut. Four months ago, her six year-old son Ben was murdered in his elementary school, along with 19 other children and six brave educators.

Joined by her husband David, Francine shares her perspective about the steps we can take to reduce gun violence and prevent the kind of tragedy she understands all too well.

It's a message that every American should hear:

Watch Francine, then join her in speaking out to make our country safer.

This week, because people like Francine and like you got involved, the U.S. Senate took a step forward on commonsense reforms to reduce gun violence.

And that's good. Because this shouldn't be about politics. This is about doing the right thing for families that have been torn apart by gun violence, and for all our families going forward.

But we've got a lot of work to do before Congress finishes the job.

So if you believe that we can take sensible steps to protect more of our kids from gun violence and protect our Second Amendment rights, stand up and join us.

Just visit WhiteHouse.gov to get started:

http://www.whitehouse.gov/newtown-address

Thanks,

President Obama

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Seth's Blog : Paying attention (to someone else's agenda)

Paying attention (to someone else's agenda)

The person who sets your media/incoming queue owns your best work.

There goes another an hour. An hour of responding to incoming from people I can't help, looking at stats that don't matter, thinking about problems that aren't the ones I set out to solve, and waiting for a response when I should be creating instead.

Choose wisely. It's perhaps the most important decision we make, every day.