Hat tip to Margaret Thatcher. The Greeks have run out of OPM.
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Hat tip to Margaret Thatcher. The Greeks have run out of OPM.
tl;dr
AKA, "austerity? That's for poor people!!!". Oh, wait...
Silly Greeks ... what a bunch of idiots.
Dumbasses voted down the EU bailout because it would mean they would have to take welfare cuts ... instead they've decided to switch back to the Drachma so that the commies in Athens can devalue it to "inflate their way out of debt" (the way the Greeks have delt with national debt for most of the last century) ... so now Greek idiots will still get the same size welfare checks but they'll be worth much less than had they just taken the austerity cuts the EU would have required.
Commies. Really is no connection to reality in their pointy little heads.
Eventually Marxism and Keynesianism hits the brick wall of reality.
You've heard the expression "Stupid should be painful"? THIS will likely end up an example of stupid being painful.
Will be fun to watch (until it starts happening here ... I suspect about this time or a little later next year).
https://www.youtube.com/watch?v=vVNbD1nySlw
(yeah, I know they weren't singing about the same kind of Greeks, but its fun none the less)
Time to short the EUR. EUR USD gapped down at the open (109 pips) and looks like it's struggling to come back up. Get your shorts ready.
Who here thought the EU was going to last?
Still have Italy, Spain and Portugal on deck for failure
Everyone needs to watch this closely. Most stuff over there comes over here.
Sounds like I need some more silver in my life
a couple of foreign exchange sites for us to look at.
http://finviz.com/forex.ashx
http://www.xe.com/