An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Friday, July 3, 2015
If the Greeks vote "YES" in Sunday's referendum then I am done defending them. I have no sympathy left for them. They will have gotten what they deserve.
I barely have any sympathy left for the Greeks anyway. What a bunch of dumb shits the way they have been handling this disaster. And this from a nation with such an amazing history. They gave so much to the world: Socrates, Aristotle, Plato, Archimedes, Hippocrates, Pythagoras.
Alexander the Great must be rolling over in his grave!
If they vote "YES" on Sunday that's it, I am done with them. They get what they fucking deserve.
I feel the same way about poor, dumb, Southerners here in America. I hope they stay poor and dumb because that's what they fucking deserve, too, for voting Republican.
Morons.
What I find amusing is that financial markets completely acknowledge this is a political failure not a financial crisis. Last weeks Greek six month bills were over subscribed and only had 2.79% interest rate. Greeks could sell enough debt tomorrow and end the crisis if only the Europeans weren't trying to create a liquidity crisis. Same goes for the banks, they are solvent, they just don't have access to the central bank because the Europeans are creating a liquidity crisis and trying to change governments in Greece.
ReplyDeleteI see it differently, though, I applaud Varoufakis and Tspiras for holding firm and allowing the Europeans to cause utter chaos rather than allowing them to further diminish the livelihoods of Greeks. And even though Syriza doesn't have a mandate to create a new currency, this could give them the opportunity if they get a no-vote and Europeans won't cooperate anymore.
I seriously doubt that the US will permit Greece to leave the EZ. At some point Obama will call Merkel and say "Game over, you lost, Angela. I gave you ample room, and you and your people blew it. Now fix it — today."
ReplyDeleteI think POTUS called the IMF already and that is why they offered a haircut.
ReplyDeleteMy preference would be for the United States and Russia to offer Greece US or Russian Statehood -- we could probably work together with Putin to offer terms that would box in the EU's options. Not that the Greeks would take it, but by creating a sane alternative, it would limit Europe's options for imposing neo-liberal ideology.
When Financial markets are more liberal than Euro-crats, what does that say?
Campaigners for the NO side are saying that Greeks voting NO to the Troika's ultimatum is as important as the NO answer the Greeks gave the Axis ultimatum in 1940.
ReplyDeleteOK, but just one factual note. The Greek government then did not stick around for a referendum to determine whether or not to accept the ultimatum. (And it would have been a disaster if it did as Italian troops were already invading Greece as the ultimatum was made.) It just did the right thing. I think the word for that is "leadership" if I am not mistaken.
And one more thing. The Greek government in 1940 had already made advanced preparations for a worst case scenario such as an an invasion. Just sayin'
Wouldn't that have happened by now? i.e. Obama making the call? I think Obama has no clue what to do.
ReplyDeleteWell, the ones who vote for the Democrats are hardly luminaries. Who wants the likes of Obama or Hillary? In fact, whoever votes at all in this farcical nonsense is a moron.
ReplyDeleteThe world is not run by the politicians. To vote is to legitimize them and acknowledge reality to the "Matrix." Strictly for schlemiels.
"Who wants the likes of Obama or Hillary?"
ReplyDeleteThey aren't Democrats, they're "Democrat-tasting" neolibs.
"Well, the ones who vote for the Democrats are hardly luminaries."
ReplyDeleteYes, but I think it's accurate to say that the Republican Party has gone insane.
"Yes, but I think it's accurate to say that the Republican Party has gone insane."
ReplyDeleteThe Democratic Party has went full retard every bit as much as the Republican. Actually I think it's worse.
Malmo's Ghost,
ReplyDeleteDon't use that term as a pejorative. Consider that some of the fans of this site might be related to a mentally challenged person.
And I can't help but suspect that you're a long-time Republican voter. You probably voted for Bush.
I see, if one doesn't lick Democratic ass they are by default a Republican or perhaps a Libertardian? Nice try, but my experience with Democrats was shaped here in Chicago over the last 40 years. You know, the the capital of Crook County.
ReplyDeleteBTW, I voted for Nader... and Obama twice, unfortunately. The only other Democrats I cared for before them were RFK and George McGovern.