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In Praise of Papandreou's Referendum Decision; Eurocrats Terrified of Democracy; Parade of Cowards - Mish - Global Economic Analysis

Argentina remains the most perilous siren in the economic world. By herself, that nation suffers the world's 'just' condemnation in consequence of unhonored commerical fidiciary. But if other nations (now in same boat) agreed to some new arrangement with 'each other' as opposed to with those who are hounding them over default, what are the limits of this trade block?

One comes to mind - 'there is no honor among thieves.' Bad business in the past declares that the move to Argentina is perilous. Perilous, yes, but beggars can't be choosers, and if everyone is a begger or has been characterized by others as such, why is that word even necessary in that company? Thus, that 'like attacts like' is seductive and the possible basis for new trade. Can this eventuality if all goes poorly really be called 'off the table'?

As Stalin once sagely remarked, it doesn't matter who votes for what anyway – what matters is who counts the votes.

Such to me too is how bankrupt socialists might think. As for Panpandreou - he couldn't even get an appointment the last time he was to visit the US. Is that on him? Maybe it will be the US who ends up trading with and only with Argentina (and her posse), eh? Question is, who is Greece's next and better company?

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