Panic on the streets of AthensPanic in the streets of Berlin, also, as the European Central Bank just issued its second billion-dollar loan in a week to Greece's banks. Merkel and Co. have assumed all along that Greece's new government would have to blink. They're still waiting. A Greek default hurts the EU more than it will Greece. That's because a Greek default would represent the first interruption in recouping the Greek banks' reckless exposure (and more importantly, their creditors'). A default would also push three to six EU member states closer to following Greece out the door. Until now, the bad faith loans to Greek banks have been covered by further bad faith loans by the same financiers screaming about the earlier loans. (See: The European Central Bank, twice this week.) The primary cause of Greece's insolvency is the same reason the EU is reluctant to pull the trigger on its threats.
Yes, and maybe I'm misunderstanding all the dynamics of this EU dance, but I think the Grexit is coming because I don't see how this can continue. How much longer can Germany "extend and pretend?"I heard a Greek economist on NPR say that it would take a miracle to escape the current state of Greece's affairs.
Ironclad Rule #21: Whenever some predicted or expected future event is used to promote fearful images of dire consequences, then either the event will not happen, or the consequences will be a fizzle. (See: Y2k, bird flu, Ebola, this year's "long hot summer", the imminent market crash, etc.) The amazing thing is that as soon as people realize the thing they were panicked about was a dud, they move on and eagerly gobble up the next dire prediction. Nothing clicks.It's always the unpredicted stuff you should worry about - but can't, of course.
Don't forget about global warming and pushing Grandma over a cliff.
If the European Central Bank knew or believed Greece was "grexiting" this Monday, why would it be handing out "one for the road" billions that are flowing right through Greek banks and out of the ATMs in real time? If Greece leaves the EU or is expelled, those Euros are never to be seen or recouped again. Tune out the posturing, follow the money, and you won't go too far wrong.
Don't forget about global warming...Yes, that's the prototype perfect example. The endless failures of their models' predictions combined with their unclean habit of blaming every weather event on global warming has earned it the description: "Global Warming - The science that predicts nothing, but explains everything."
No worries - just print more Euros!
Hello Everybody,My name is Mrs Sharon Sim. I live in singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of S$250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of S$250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(firstname.lastname@example.org) 008376918351 Thank you.
Post a Comment