CBC – “Everybody gets subsidies in this country in one way or another…”

What he means is:

“Everybody in this country subsidizes CBC in one way or another…”

CBC receives more than $1-billion annually in government subsidies to support its activities, which include radio, conventional and satellite television, and Internet services with programming in English and French and eight Aboriginal languages.

“Everybody gets subsidies in this country in one way or another,” Mr. Dark said. “What I would say is that our digital properties are commercial and we compete with folks in these markets for ad dollars and that’s how we support those assets.”

Only a state broadcaster can afford to turn down revenue…

Financial Post

The Pessimists are too Optimistic…

“Relations worse that pessimists expected”…

Officials in the Chancellery consider the culprit here to be neighboring France, the country that is meant to function together with Germany as the motor driving the EU as a whole. Paris, Meyer-Landrut said, isn’t interested in reaching agreements with Germany on fundamental questions before September. The meaning behind his words was clear: French President François Hollande is counting on the German elections putting a new government in place in Berlin, one he hopes will be more willing to compromise. Hollande no longer expects anything from the current German government.

The two nations’ disputes always seem to be about money…

or something like that…France and Germany have a long history of settling disputes…

Spiegel on-line

First They Come for Your Guns…

It could NEVER happen here…

The military would be empowered to maintain that “public order.”

Japan’s “Stealth Constitution” Destroys Civil Rights

Can they be any more clear about what they are trying to achieve?

One proposal would ban anyone from “improperly” acquiring or using information about individuals – a clause experts say could limit freedom of speech.

Under Article 96, changes to the constitution must be approved by at least two-thirds of both houses of parliament and then a majority of voters in a national referendum. Abe wants to require a simple majority of lawmakers before a public vote.

It’s probably nothing…

Zero Hedge

Obamanomics in Action…

Working as planned….

ADP Private Jobs Plunge, Miss; Fall For Fifth Month In A Row

Concurrently he (Zandi) also announced that the just released April ADP was a huge miss to expectations of 150K, printing at just 119K, or a 31K miss. This was the 5th month in a row of declines excluding the small bounce in February data. It also means that the combined miss to expectations including March (original estimate +200K) and April (estimate 150K) is precisely 100K.

Oh yes, anyone looking for seasonally unadjusted ADP data, good luck – keep on looking.

Zero Hedge

 

You Can Take The Black Democrats Out of the City…

Oh… No You Can’t

Once upon a time, the United States was a place where free enterprise thrived and the greatest cities that the world had ever seen sprouted up from coast to coast.  Good jobs were plentiful and a manufacturing boom helped fuel the rise of the largest and most vibrant middle class in the history of the planet.  Cities such as Detroit, Chicago, Milwaukee, Cleveland, Philadelphia and Baltimore were all teeming with economic activity and the rest of the globe looked on our economic miracle with a mixture of wonder and envy.  But now look at us.  Our once proud cities are being transformed into poverty-stricken hellholes.

By corrupt mostly Black Democrats….vote early and often

Zero Hedge

QE at Work… Britons turn to food banks

Paul Krugman is thrilled!

More hard-up Britons turn to food banks

The Trust has launched food banks at a rate of three a week in recent months, and now operates 345 branches across the UK. Part of the rise in referrals can be attributed to the network’s rapid growth, but while food bank branches have risen by 76 per cent in a year, referrals have increased by 170 per cent. “It’s a more much intense use,” Mr Mould added. “The fundamental thing is that more and more people are living an increasingly precarious life financially.”

During the Great Depression, the desperation was graphically evident with long lines of families waiting for soup; in the new depression, the record levels of starving and needy are hidden by a blanket of EBT cards and direct transfers from government. The situation is no less terrible – no matter how hidden from view.

But hey – the Stock Market is up!…

FT, Zero Hedge, NBC

When Merkel says “Europe” she means Germany…

Merkel To Europe: “Prepare To Cede Sovereignty”

“We seem to find common solutions when we are staring over the abyss,” Merkel said. “But as soon as the pressure eases, people say they want to go their own way.

“We need to be ready to accept that Europe has the last word in certain areas. Otherwise we won’t be able to continue to build Europe,” she added.

What could possibly go wrong…

Zero Hedge

Wealth tax to pay for EU bail-outs

The Germans want rich Brits to pay for lazy Greeks and Spaniards

What could possibly go wrong…

Around 400,000 Britons live or own homes in the south of Spain, which is suffering a deep recession that is hampering Madrid’s attempts to balance the public finances and stave off a bail-out.

Southern eurozone governments have argued that it is right for Germany to pay more because it is wealthier and because its economy has gained so much from the single currency.

But German economists are now challenging that argument. They say that new figures taking into account property values show that people in many southern countries are actually wealthier than their German counterparts.

Telegraph

Housing Surges — Down

It’s Never Different This Time…

Goldman’s housing swirlogram shows that the revisions from an exuberant few months into January 2013 have dragged the reality of the ‘recovery’ rotating into full-blown ‘expansion’ to a crumble back into ‘contraction’.

 

The Fed …doing the same thing over and over and expecting a different result…

Zero Hedge

Fasten your seat belt in Europe

France: “the world’s last truly Communist country is about to implode”

Things are unfolding about as expected…

France has economic problems that are particular to its political culture. While speculative excesses in Spain and Ireland were concentrated in an over-built, over-geared real estate sector, French exuberance was a civil service affair. (Remember the adage: too many houses in Spain, too many factories in Germany, too many civil servants in France). This out-of-control public sector machine used easy funding conditions through the 2000s to bolster the ranks of an already bloated bureaucracy – the assumption was that such captive groups would vote for their ultimate pay -masters come election time…

Which they did…and elections, apparently, have consequences…

Zero Hedge