Monday, July 4, 2011

A Theater In Absurdity.

Anyone who made money in the last weeks rump job in US Stock Markets, were more lucky than smart.

There never is or was any reason for the stocks to join the 100 meter sprint apart from the urge for bonus of the Banksters and very necessary window dressing for EOM and EOQ. Listen to the following interview from ECRI head Lakshman Achuthan. ECRI is saying that all leading indicators are decisively turning  down.

Talking heads of the News media are saying that the markets went up because the Greece issue was resolved. Really? Which way?

I get the feeling the Greeks have got the Europe by you know what. They are milking Europe dry so that the Greeks can continue to spend money which they don’t have and retire when they are 53. Imagine a German worker working till s/he is well past 60 and pay money for the Greek bailout, so that the unionized Greek worker can enjoy life shortly after puberty.

The Greek drama is a theater in absurdity. Greeks know that they will default. Other Europeans know that they will default, And everyone is trying for the best seat in the theater , Greeks to get the best deal and some more money, Other EU Nations to prepare their Banks for the aftershock.

I read an interesting article in BBC recently. The Greek demonstrators will throw stones at riot police in their parliament square, Police will throw tear gas to demonstrators and after some time when they are tired, they (both the demonstrators and police) would go to some side lane cafes and have a well earned coffee break.  Sitting next to each other, laughing and chatting about life.  And the Greek politicians will tell the EU, you can see the social tension, so cut us some slack. How long before other European nations find out that they are hostages  of the Greeks. Just like the Americans are the hostages of Pakistan.  US know that Pakistan is the epicenter of terrorism, and yet they are force to give billions of dollars to Pakistan to fight terror. It would seem that the biggest export item and revenue earner of Pakistan is state sponsored terrorism and the biggest export item and revenue earner of Greece is the threat of contagion.   

Otherwise how on earth Greece has not sold one single state enterprise in the last 18 months to reduce the budget deficit. And talking about budget deficit, Greece has already missed its June budget target, even before they get a dime out of the 12 billion promised by EU. It is one lie after another and difficult to understand which moron is lying more. What is not difficult to understand that things are not going to end well.