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Tricky

Tricky
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  • European stocks waver ahead of Greek vote [View news story]
    Dr Evil: C'mon everyone, it's time to start the SPECTRE meeting. First point on the agenda, how shall we crush Greece a little harder?

    Blofeld: I'm hungry, can we get the kitchen to send up some freshly tortured kittens?

    Dr. Evil: Good idea. And a bottle of Greek tears to wash them down, please.
    Jul 4, 2015. 12:38 PM | 2 Likes Like |Link to Comment
  • Varoufakis promises to quit if Greeks vote for austerity [View news story]
    Hi KMI, I will simply and respectfully state that I read between the lines on those Varoufakis statements as a deliberately misleading conflation of distinct issues and events. I simply don't buy (in essence) "the lenders won't allow us to reform".

    As the kids say these days, "I can't even..."

    Cheers.
    Jul 4, 2015. 12:29 PM | Likes Like |Link to Comment
  • Varoufakis promises to quit if Greeks vote for austerity [View news story]
    Actually, I would be very supportive of a debt reduction, as there is no way that Greece can ever pay its debts. I agree that the Germans do have an helpful austerity fetish (The Economist had an interesting article recently on the philosophy / morality foundation that uniquely plays to this in Germany). The problem is that Greece has no credibility in being willing to do enough on the big structural reforms -- like collecting enough taxes, fighting corruption, overhauling its judicial system, etc. They just want the bailout, with no meaningful conditions, other than some empty promises that they will backslide on right after getting the money... just like last time.

    Syriza is not forward looking, it is very backward looking, in trying to sell the public that it can return them to a faux golden time that was enjoyed during the early days of their EU membership. They're playing to the "insult to national sovereignty" card... well, when you take money, you also have to accept the conditions. I find it hard to blame the Germans that they're thinking "man, we can't do business w/ these guys" because all lenders evaluate at their borrowers in this way.

    What's new? Don't like the conditions, find another funding source. If all you have is limited and highly unattractive alternatives, that tells you all you need to know about your credibility -- and that's THE core problem with Greece. Well, that and they don't really belong in a hard money currency union with first world countries, but that's a broader discussion.

    Anyway, have a happy 4th of July.
    Jul 4, 2015. 11:30 AM | Likes Like |Link to Comment
  • Varoufakis promises to quit if Greeks vote for austerity [View news story]
    LOL, you mean other than pointing out the mass of modern Greek history that exposes the lie that Syriza won't be back for more? They not only are refusing to reform the things that kill Greece's productivity and competitiveness, they actually want to go backwards re: state dependency and unfunded pensions at ridiculous retirement ages.

    What in the world would make you think you can take that statement at face value?

    If Greece had credibility, it would have more attractive options. But it doesn't, so it doesn't.
    Jul 4, 2015. 10:57 AM | Likes Like |Link to Comment
  • Varoufakis promises to quit if Greeks vote for austerity [View news story]
    They're lying. They WILL be back for more. Greece is a basket case and has no hope of going any further without more funding assistance.

    So we'll see you at the front of the line to buy those drachma bonds at attractive lending rates for them?
    Jul 4, 2015. 10:18 AM | 1 Like Like |Link to Comment
  • Varoufakis promises to quit if Greeks vote for austerity [View news story]
    That's EXACTLY what the Greeks are fighting for -- a foreign benefactor to keep funding them. You left the Germans of the list, need to add them as the top prospect.
    Jul 4, 2015. 10:11 AM | Likes Like |Link to Comment
  • Varoufakis promises to quit if Greeks vote for austerity [View news story]
    I agree. The Euro, as currently constructed makes no sense. Why have industrial powerhouses in a currency union with 2nd/3rd world basket cases? All of the drama since the initial default is a kabuki dance of fig leaves and bandaids. So would your Option 3 -- Greece has no credibility, everyone knows they'd be back for more shortly.
    Jul 4, 2015. 09:58 AM | 2 Likes Like |Link to Comment
  • The Chinese bear keeps growling [View news story]
    "I can't wait to see what they try once this plan fails to change anything substantively."

    Executions! The Chinese are particularly fond of those. Goose the market AND feed their black market organ transplant business.
    Jul 4, 2015. 09:13 AM | Likes Like |Link to Comment
  • Spain Is The Next Greece - Avoid EWP [View article]
    You could start by stating a more complete version of the truth. While Germany certainly does have a counterproductive austerity fetish, the core problem is that Greece has no credibility with any lenders -- given its history and its current attitude, there is no visible reason for hope.
    Jul 4, 2015. 09:09 AM | 1 Like Like |Link to Comment
  • European stocks waver ahead of Greek vote [View news story]
    LOL. When you imagine the meetings of ECB, are they like SPECTRE? Dr. Evil? Legion of Doom?
    Jul 4, 2015. 08:54 AM | 2 Likes Like |Link to Comment
  • The Chinese bear keeps growling [View news story]
    Isn't this about the time that China executes someone?
    Jul 4, 2015. 08:31 AM | Likes Like |Link to Comment
  • The Outlook Of Greece [View article]
    As a German citizen, you might want to be concerned that Greece doesn't just want a writeoff on the past debts, they want a LOT MORE of your money... that they will never pay back. But that's up to you.

    As an American citizen, I don't want IMF money going down that rathole.
    Jul 4, 2015. 06:59 AM | 1 Like Like |Link to Comment
  • European stocks waver ahead of Greek vote [View news story]
    Yah. And same answer -- look what the then West Germany did with that breathing room. In contrast, Greece is a basket case who has been in default for the majority of their modern history. And there is no reason to believe things will be any different, going forward, with any of the visible contenders for leading the country. In fact, they will be shrieking for MORE money (that they will never pay back).
    Jul 4, 2015. 06:52 AM | 2 Likes Like |Link to Comment
  • European stocks waver ahead of Greek vote [View news story]
    Please expand upon the IMF's role in arranging the fraudulent trade that helped the Greeks backdoor into the EU... with links to credible sources, not just statements.

    Those poor innocent Greek hairdressers were more than happy to have their profession denoted as "hazardous", with a benefit of retirement on full pension in their early 50's, after having contributed squat to fund it.
    Jul 3, 2015. 06:20 PM | 2 Likes Like |Link to Comment
  • European stocks waver ahead of Greek vote [View news story]
    Well, the way the world works, deals get done with the leadership of a nation state -- there isn't any way to do them with "the people". In Greece's case, these were democratically elected leaders. Regarding the "greedy IMF", if your country needs to get bailed out by the IMF, it's a fairly sure sign that your country had previously turned itself into a basket case all by itself. If you don't like the terms, that's cool, get financing elsewhere. As an American taxpayer (the biggest contributor to the "greedy IMF") I'd rather not throw any more money into that black hole.
    Jul 3, 2015. 05:51 PM | Likes Like |Link to Comment
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