Thursday, July 2, 2015


The IMF said today the Greece will probably need not only debt restructuring but debt reduction in order for it to get back on it's feet.  WELL, you could have knocked me over with a feather! Imagine being able to figure that out and reach that conclusion!  I wonder what gave them the first clue: a debt to GDP ratio of 180%?  Or might it have been that Greece produces very little of what anyone else wants?  Or that there are only 11,000,000 people in the whole damn country, many of whom don't like to work and none of whom like to pay taxes. Or maybe in the end it was just the fact that they elected an idiot to lead them in their time of economic peril.  Anyway, that was the word of the day.

Why this organization is allowed to continue in it's existence is beyond me other than the fact that it provides work to scores--nay, hundreds--of otherwise unemployable Ph.D economists.  And, I suppose, it is useful to have somebody around who can elucidate the obvious from time to time.  Of course, whilst they were proclaiming this Delphonic revelation no one seemed to inquire of them that if this was the case, how 'bout starting with YOU as the first debt reducer? Even seen a scalded cat?  I never have either thank goodness but if one conjures up the image one would see the reaction if such a question were to be asked.

In the world of the living, both sides continued to fire broadsides at one another while the rest of the world was trying to piece together what the results of the referendum would mean without much success.  While that was going on, there were reports that the banks were down to less than 500 million Euros in cash and withdrawals were now limited to 50 Euros from 60 Euros because of a shortage on 20 Euro bills.  We are truly in Faerie-Coo-Coo land.  It is a sick joke that the Greeks invented the word "Chaos" but there you are...and there we have it.  To complete the farce, the most harsh opinion against the Greeks coming from any European leader came from the Prime Minister of Italy.  ITALY!  I kid you not.  When the Italians announce that they are sick and tired of your fiscal irresponsibility, you are done my son.

Tomorrow marks the start of our great national holiday, the Fourth of July.  The country shuts down and the smell of barbecue waffs from coast to coast for three days.  I'm going to shut down as well.  Sunday will come soon enough and we'll have a clearer idea of where this is all going by Monday...or not.  Anyway, that's when I'm back.  The Document starts with, "In Congress, July 4th, 1776..."  and finishes with, "...we mutually pledge to each other, our Lives, our Fortunes and our Sacred Honor."
They meant it, too.  Don't see much of that any more.

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