An Olympian game of musical chairs in global finance heads for a climax in the days ahead as so many eyes are diverted to alternate festivities in British Columbia, where grown men compete for gold by riding things that look like cafeteria trays down icy mountainsides -- is this the moment that comes every four years when you wonder why you didn't get your kid a luge for Christmas?
The advertisers must be lovin' it, but six thousand miles away a whole lot of European bankers are wondering how to get their fannies in a dwindling number of seats at the money trough. Greece is going bust. History is great prankster this way. Just when you're wondering how America will make Afghanistan safe for democracy, or whether Venezuela will blow itself up along with the oil markets, along comes kindly, picturesque, inoffensive old Uncle Greece -- land of antiquities and pizza entrepreneurs -- to f#ck things up.
Those who run Europe have three choices: to bail out Greece, to let Greece sink (into a desperate economic depression), or to pretend to bail out Greece. The sad truth of the situation is that there is not enough productive activity in Europe to really support all the members of the European Union in the style they're accustomed to. (Which also happens to be true of the USA and its constituent states, but you probably know that already.)
Europe is a sad case, really poignant, because it became such a darn nice corner of the world after the convulsions of the mid 20th century.
I am afraid its game over for the EU.
ReplyDeleteGreece is tiny, the money we are talking about are peanuts compared to - let´s say New York or California.
ReplyDeleteIt is just a red herring to divert attention from the much bigger problems the USA is having.
4:18 Agreed
ReplyDeleteGreece is symptomatic of overleveraged debt in developed countries. This small economy is probably the beginning of larger defaults to occur. Their economy may be bailed out by larger interests. More than likely it is the beginning of larger things to come.
ReplyDeleteFind something solid to hold fast and prepare for the gathering storm. The truth shall always prevail.
Notice how the European and Asian markets are reacting to the Greek news? The markets act like there is nothing happening and business as usual - up markets on bad news. Why doesn't this surprise me? Hummm, they were really happy when Germany was going to bail them out last week - all went green! Now that Germany says hell no, the markets are still happy and going green. Can you pronounce "manipulation BS"?
ReplyDeleteI like 4:42's comment : "find something solid to hold fast"
ReplyDeleteSo; I started to think on that -----------------
For every solid I could come up with ??
I also came up with Three Liquids
Four gases
and One " oh Shit" !
Who cares.
ReplyDeleteI like the sarcasm in the article but I do not get a lot of “seems”. It seems like money grew on lots of trees. The guy is trying to pretend that things happen on their own, almost like: The strong wind from the North-east blew trillions of dollars into our housing market, then the wind changed its direction and we are left here without money and jobs. Oh, this bloody wind! We hate you. So, I guess the amount of money is unknown, since it grew on the trees uncontrollably, without pruning and proper care for the money trees. Now the banksters are trying hard to recreate the same crop, but due to climate change it doesn't work. The crop gets smaller and smaller. Let's get real people. Uncle Greece, who also happen to be Uncle Rothschild: http://www.rense.com/general89/d2g.htm did a very good job on planning this collapse. And the interesting thing, some traitor actually told us the way it was going to happen back in 1903, but because we are utter dorks and treat everything as a conspiracy we did not pay any attention. Guess what-now we will have to pay attention. For those who understand that “seems” have nothing to do with the financial state we are in and who wants to understand how it happened, please read the link: http://www.churchoftrueisrael.com/protocols/ Even the titles are self-explanatory. First published in 1903.
ReplyDeleteYou mean the bridge funded by selling Municipal Bonds at a tendered interest of 12% funded by your property taxes then refinanced by Goldman Sachs in a Special Investment Vehicle to avoid default at 17% interest with 4% going to Goldman and 12% going to interest payments and 1% dissappearing into the black hole of accounting improprieties?
ReplyDeleteThat bridge?
The BBC World Service reports that the Greek finance minister made a Freudian slip, comparing the Greek economy to the Titanic.
ReplyDeleteThe Swedish finance minister called it by its right name - fraudulent.
Noodles-As an hispanic let me say something about most hispanic and latino cultures...We try as hard as hell to NOT pay taxes.
ReplyDeleteI have seen people do outrageous things to not pay anything...Greece is a prime example of that culture of socialist entitlement but where people don't want to pay in.
You can't have both...You either pay like the Swiss but have many many programs or you pay nothing and have wobbly economic and social unrest crap.
Greek people are some of the nicest people in the world but just like my people they sit there and complain yet hate to pay their share.
I say let Greece burn...It was a self made problem just like the US...Have no one to blame but themselves just like us and now it's time pay the consequences for their gluttony and avarice SOON to be just like us...Geeez Catholic Guilt flashback! :O
Quite possibly the most Channels, The Greatest Digital Large definition, The Most convenient Broadband, And Best Phone Support Available
ReplyDeletemy web page - video to mp3