Okay. Now it is time to take the gloves off. With apologies to Jonathan Swift.
When a nation truly appears to try to do better in this world, you may know it by this sign, that the dunces are all in confederacy against him. Jonathan Swift
Why all the vitriol for Greece? And in this case, I mean sulfuric acid.
This is what we are hearing from the EuroWizards.
The analysts supported the €110 Billion bailout payment. This, based on the assumption that the Greek economy would grow. (Experience Growth--passive tense.) When there was no growth, the analysts supported imposing sanctions on Greece to punish Greece. For what? For the fact that the analysts assumptions were wrong.
Analysts now tell us that they believe that the €400 Billion "emergency fund" is too small. I may have been bewildered by the babble, however, what I heard is this. "We are not putting more money into the fund. We will, however, co-sign a loan so "The Fund" can borrow money to double in size. (No, we are not in Bernie Madoff territory. Not yet.)
To further aggravate the situation:
ag·gra·vateVerb/ˈagrəˌvāt/
1. Make (a problem, injury, or offense) worse or more serious.
2. Annoy or exasperate (someone), esp. persistently. More »
Dictionary.com - Answers.com - Merriam-Webster - The Free Dictionary
To further aggravate the situation, the EuroCrats have been clutching retentively to the talisman of Austerity. This, like the monkey's paw, grants three wishes. (The downside? The third wish is for death.) The EuroCrats are killing Greece with kindness. The EuroCratic posture toward Greece is: condescending, patronising, and rude.
The programmes are constructed to fail.
"Everybody knows what everybody knows." -- Slim Fairview
"Some people as questions seeking information. Other people as questions so they can interrupt, argue, and pretend they're right." -- Slim Fairivew
"Don't bother asking me. You don't want to hear my opinion. You want to hear your opinion." --Slim Fairview
Last night, as I pondered the situation, I had an epiphany. (Not Θεοφάνεια, Τheophaneia A vision of God; but rather ἐπιφάνεια, epiphaneia, "manifestation" (Okay, enough Googling.)
The ἐπιφάνεια came about when I asked myself, "Why are the EuroCrats clutching retentively to to DEBT RELIEF. Schuldenerlass. Übersetzung für Schuldenerlass? Bernie Madoff.
Greece owes money.
The EuroCrats want to get repaid.
(Giving Greece Money so they can pay back their loans may seem surficially bewildering, however, follow the "logic".)
Greece is in debt. The only thing the Bonds Bear are Low Ratings.
The EuroCrats Create a bailout fund to help Greece with their debt. They prop up Greek Bonds.
Investors Buy the Bonds.
Greece is able to repay the EuroCrats.
The EuroCrats get their money and leave Greece and Private investors holding the bag.
(Analogy: You buy stock. The stock price tumbles. You lose money only if you sell the stock.)
What are the austerity measures being inflicted on Greece and upon the Greek people?
We cut your wages
We lose tax revenue
We fire people
We lose more tax revenue
We raise property taxes on people who make less money or no money at all.
We cowtow to the cows who tell us how wonderful we are to bear the burden to save our country. We feel good about ourselves. No we don't. We feel as if we've been Berned. [sic]
and we are Madoff as hell about it.
With my sincere condolences.
Slim
slimfairview@yahoo.com
Copyright (c) 2011 Slim Fairview
