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Greek Pudding

- James Howard Kunstler -

Your article clearly articulates, with the usual entertainment, yet another installment of the failures of central banking.!!

For some time now, I've watched the obvious and total manipulation of the derivative precious metals markets with amazement (and some despair).

Yet the apparent manipulation of Alexis Tsipras over the weekend was a complete horror. No doubt the Germans managed not to leave any obvious marks on the body, but his capitulation, given the support of his constituency, was incomprehensible.

And how exactly does this news translate to stock markets going up the next day in Asia, Europe, and the US? Even assuming that these measures are accepted, never mind implemented, does any other government act as if MORE austerity is now better?
What are we doing in THIS country right now? Is it more austerity or more debt? Wasn't it austerity that supposedly prolonged our Great Depression? Isn't Mario Draghi engaged in huge quantitative easing? Why pick on Greece, who at worst only have their own invidious methods of quantitative easing.
We all should have thought about the benefits of a little austerity decades ago. Instead we repealed Glass -Steagal in 1999, and handed over our future to the banks.

Commented 3356 days ago

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Beginning of the headline :T he proof of the pudding is in the eating, the old saw goes. This one, alas, is a mélange of several old shit sandwiches bound in liaison of subterfuge and seasoned with political absurdities. Having been fooled in this bistro before, citizen-patrons leave the table resigned to yet another bout of food poisoning as the music of universal upchuck rings across the European Union from Helsinki to Lisbon What is on display more brightly and clearly than ever, though, is the utter fakery of internat... Read More

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