1
Unfortunately, we have a bunch of malakas running this country too.

2 But Sheriff Joe said we needed to spend OUR WAY OUT.   Why doesn't Greece listen to him.

3 I'm hungry.  For a gyro.

4 Maybe the Greeks can start charging back royalties to the pron industry.  That should bring in a little revenue.

5 I don't see a problem here.

6 Couldn't happen to a better bunch.

7 You really need a bigger shoulder turn, Mr. President.

8 But my GM and Chrysler stock will be ok, right?

9 Greece was lowered to BB+ from BBB+ by S&P

Is this grade inflation or a bra size?

10 Hey, I have to start buying nations sometime...

11 You'll be fine.

12 Opa!!!!!

13

Like Teleprompter Jesus they earned their good solid BB+.

14
What are lead, brass, and smokeless powder futures looking like?

15 Greece was plagued by irresponsible spending and politicians who lied about the country's massive liabilities and a high tax rate that discouraged growth.

So, like I said, Greece is nothing at all like Obama's America.

Thnak God!

16 I seem to recall, in the 70's I think, the Greek government nicking the US for its Greek bases, even to the point of charging the US to leave.

Naturally, I'm real busted up about the Greek Socialist Utopia deflating like a whoopie cushion that just got sat on.

Perhaps a properly chilled beer to drown my sorrow ...

17 What are lead, brass, and smokeless powder futures looking like?

Don't forget gold and fruit/vegetable seeds.

18 Greece was plagued by irresponsible spending and politicians who lied about the country's massive liabilities and a high tax rate that discouraged growth.

And let's not forget all those unions who take over everything and force government policy. No we don't have that either.

19 I picked the wrong week to stop drinking ouzo.

20 Eureka!  The bathtub is overflowing!

Holy crap, it's flowing all over!  Turn the damned water off, you idiots, you're flooding the whole place.  My gods, we're going to drown!

21 Break out the flaming cheese!

22 Is the the red, black, white, or green horse?

I'm so confused.

23 That whole "hosting the Olympics" thing really worked out well for them, huh?

24

Eeeesh...it figures. The very fucking day my shit gets bach to a palpable number, everthing tanks...AGAIN! Fucking Euro-scumbags...I was liking my bubble, it was cute like there bears but green with a few zeros.

  

25

Greeks are out of money?  There's only one thing to do...

toga..

toga...

toga....

26

The Greeks are, as a country, assholes. 'Have been for decades.

Screw 'em!

Go ahead and riot for food Mr Greek. It will be cracking good entertainment!

27

25 That whole "hosting the Olympics" thing really worked out well for them, huh?

 

that's a very good point... seems to happen a lot with those large expenditures... World Cup in S.A. this time around and should be interesting (if we make it that far)

28 Send more money.

29
More cuteness, to ease the burn of the Ouzo shot.

30 Barry: The only solution is more regulations and higher taxes. Except on young people, African-Americans, Latinos and women. The rest of you are screwed.

31 So I guess France and Germany didn't pony up enough money?

What happens now when the same thing happens to Spain, Portugal, Italy, and Ireland?

Hmm

Portugal
Ireland
Italy
Greece
Spain

PIIGS.

32 Are you SURE those are my heirs?

33 Did you guys ever see "My Big Fat Greek Debt"?  Good movie, I hear.

34 Anybody know where I can get some blow?  It's good, when you can get it.

35 I think Ireland took the bitter medicine and cut pensions, government wages etc and is now in better shape than Portugal Italy Greece Spain. and don't forget Japan. And soon to be US

36 Just spray some Windex on Greece, that'll fix it right up.

37 Ah, that's what Obama was talking about. He'll get us to B+ in no time!

38 Are you SURE those are my heirs?

Posted by: Alexander the Great at April 27, 2010 05:19 PM (Xu5Z7)

You were a Macedonian, remember?

39

It's sizing up to be an interesting summer in Euroland; hell, it's sizing up to be an interesting summer here.

(and I'm having second thoughts about letting my boy go on a vacation to the Grand Canyon and LA...three months ago it didn't sound so bad...now...)

40 I want trading reopened right now. Get those brokers back in here! Turn those machines back on!

41 No their rating is a SOLID BB+

42 So, do I go ahead and dip now, wait a few months and then dip, or dip now and again in a few months? Decisions, decisions.

43 So if Greece goes bankrupt, that makes them sort of a hobo country, right?

44 BTW can someone give me some education. More A's is good but more B's is bad on bond ratings?

45 It's a good day to be short anything Greek.  When the Big Fat Greek Bailout arrives I'll unload all this crap and send Nia Vardalos a telegram thanking her for supporting Alexi Giannoulias.

46 Time to sell some of their stupid greek islands.

47

Portugal
Italy
Greece
Spain

PIGS?

48 I kinda have a craving for grilled lamb....too bad I'm making fajitas.  I also kinda have a craving for Retsina....

49 and don't forget Japan.

And soon to be US

Posted by: Palerider at April 27, 2010 05:23 PM (dkExz)

So if we can find a T country going bankrupt too...

J.US.T. P.I.G.S.

50

OT:

A bit of local news to report. A customer at a Walgreens who had a CCW permit shot and killed a would be robber who was pointing a shotgun at customers and employees. He also captured a second masked robber and held him until police arrived.

A witness reported that the armed customer appeared to have law enforcement or military training because he reacted to the situation quickly and seemed to know what he was doing.

Chalk up one for the good guys!

51

This is madness!

No, this is BAAAAANNNNKKKRUPPPTCCYY!!!!!!!!!!!

52 Winthorp!

53

Well, like I said in the other thread: for the Greeks, the best outcome is to leave the Euro and go back to the drachma. The only alternative is to undergo a severe, decade-long (or longer) austerity program and dramatically lower growth. Greece, controlled by socialists and unions, would devolve into a civil war before they would let that happen. This is why the markets are treating Greece's promises of "reform" in the same way they would a fart in an elevator: by smiling politely and ignoring them.

It's not clear to me that the EU can avoid a Greek default at this point (or a debt-restructuring, which amounts to the same thing). And if Greece goes, Portugal and Ireland are next on the scaffold.

 

54

Time to sell some of their stupid greek islands.

I'd like to put in a bid on Lesbos. We can build a bunch of houses there for the moronettes.

55
A bit of local news to report.

Well shit Dack, tell us where so we can look it up at least.  Need a feel-good story on this B+ news day.

56 And instead of projecting calm and encouraging the American people that our markets are secure, the president is scaremongering and demonizing Wall St. to push his policies through Congress.

This would be a really nice time to have a grown up as president.

57

34  From what I can gather the French were holding back, waiting for the Germans to go the major "ponying", but the Germans found a loophole in their EU rules that made such a loan against the rules (and you know how they are about rules)...so they kinda sorta said the IMF needs to bail Greece out.

Greece of course did not like that idea -- they thought they were going to get the bailout without having to cut any of their public sector spending -- and the situation has devolved from there (although I guess the Greeks are threatening to boycott the Germans or something -- sound familiar?).

As far as I'm concerned, well, EUland can go pretty much the same way as Chicago, screw them.

58 Are you SURE those are my heirs? Posted by: Alexander the Great at April 27, 2010 05:19 PM (Xu5Z7) You were a Macedonian, remember? Posted by: Ptolemy at April 27, 2010 05:23 PM (7BU4a) Thanks for the out. I knew I gave you Egypt for a reason...

59 I mean, there is the small chance that we take this as a warning and defuse our own debt bomb

eh, who am I kidding? 

60 Surely the former President of the Harvard Law Review is all grows up now.  He's even black so double grownup bonus!

61

No, this is BAAAAANNNNKKKRUPPPTCCYY!!!!!!!!!!!

Posted by: Angry Greek Official at April 27, 2010 05:26 PM (DlXP/)

In an ancient Greece polis, a screw up this massive would get many men executed.

62 I would just point out one big difference between Greece and the US.  Greece can't print money.  Greece can be forced into default.  We own our monetary system, so we can print our own money and would be more likely to print (as we have been doing) than default (which is sad, because hyper-inflation would be a real living hell and almost inescapable for us).

Greece, at least, has a bottom to their situation.  Our ability to print money means that we can destroy the usability of the currency and render the nation unworkable, literally - which is what some of the malevolent dicks in Washington actually want to do, most of all The Precedent.

63

We should buy Santorini and call it "Bacon."  Bacon, Greece! 

There is no off position on the genius switch.

64 That's the one thing you have to remember about Greeks: they love animals and hate people.

65 Ethnically, Macedonians are not quite Greek, and Alexander you likely looked more European than Mediterranean. So, I'd say the present Greeks are at most very distant cousins.

66

They got more islands than they know what to do with, they need to start selling some off.

I bid $12.95 for Santorini.

67

I'd like to put in a bid on Lesbos. We can build a bunch of houses there for the moronettes.

Posted by: Dack Thrombosis

Perv.

68

Well shit Dack, tell us where so we can look it up at least.  Need a feel-good story on this B+ news day.

Sorry. Here it is:

http://tinyurl.com/2ahb4h3

This article says they cited the hero for carrying a concealed weapon, although he had a permit for the gun.

Bastards.

What I heard earlier on the radio said he had a CCW. Still, it looks like they aren't charging him with the shooting.

69

Are you SURE those are my heirs?

Posted by: Alexander the Great at April 27, 2010 05:19 PM (Xu5Z7)

You were a Macedonian, remember?

Posted by: Ptolemy at April 27, 2010 05:23 PM (7BU4a)

Thanks for the out. I knew I gave you Egypt for a reason...

 

How do we know that he was a Macedonian?.......He Ptolemy so!!!!

 

Thank you citizens of Athens. Try the baklava.

70 Thanks for the out. I knew I gave you Egypt for a reason...

Posted by: Alexander the Great at April 27, 2010 05:28 PM (Xu5Z7)

Thanks Bro. By the way, is my old country still the scientific capital of the world?

71   60

Time to sell some of their stupid greek islands.

I'd like to put in a bid on Lesbos. We can build a bunch of houses there for the moronettes.

I would buy a house there just so I could tell people I'm a Lesbian.

72

And if Greece goes, Portugal and Ireland are next on the scaffold.

Portugal has some nice islands it could sell.  Ireland can sell some of those hot ginger chix.

73 Dack Thrombosis: "Chalk up one for the good guys!"

What color is this "good guy"? We might have some questions for him.

74 Greeks are better money managers to begin with because they've been bred to be that way.

75 World Cup in S.A. this time around and should be interesting (if we make it that far)

Especially if al Qaeda shows up.

76 81 World Cup in S.A. this time around and should be interesting (if we make it that far)

Especially if al Qaeda shows up.

Posted by: HeatherRadish at April 27, 2010 05:35 PM (mR7mk)

'They make the playoffs?

77

You were a Macedonian, remember?

Macedonian?  Isn't that Polical Speak for Gypsy? 

78 68: But I've heard that if inflation can be controlled from becoming hyper inflation it is useful for debt situations. Greece is screwed now --their debt is in euro's so an inflated Drachma could only give relief wrt to public salaries and pensions. But U.S. debt is in dollars so if we had 10% inflation for 9 years its like halving the actual worth of the bonds the government has sold. Of course this totally screws people who have saved. And it also puts more working people into the upper income brackets so uncle Sam gets to grab a higher percent of their salaries. Its win win for Gub'mint.

79 Do they own Crete? If we get that, we can be cretins. Officially this time.

80

What color is this "good guy"? We might have some questions for him

Yeah, there's going to be that. But not a lot of it, probably. Not out here. This isn't a lefty haven.

81
Funny how all these places are beautiful places to vacation.  You'd think with that money-train of currency coming into their countries they would be in excellent shape economically.  Hmm, I wonder what it is about that Democratic Republics all have in common...

82 Ethnically, Macedonians are not quite Greek, and Alexander you likely looked more European than Mediterranean. So, I'd say the present Greeks are at most very distant cousins.

Posted by: Jim in San Diego at April 27, 2010 05:31 PM (F09Uo)

Yes, those Macedonians were half barbarian. Always worried about the unimportant things like war instead of philosophy. Really makes you wonder how they defeated us.

83

Do they own Crete? If we get that, we can be cretins.

Heh.  I'm pretty sure "cretin" as a derogatory term originated in the Agean long ago.  That's what I remember from my logic prof.

84 Al Qaida's youth soccer camp keeps getting uninvited hellfire missiles.  Do they have a team to send to Johannesberg?

85
'They make the playoffs?

Green crescents all over this bia.  It's going to be Munich '72 times 10.

86 O/T:  You guys should see Beck right now.  He's hosing GM.

87 Hmm, I wonder what it is about that Democratic Republics all have in common...

Kings?

88

Al Qaida's youth soccer camp keeps getting uninvited hellfire missiles.  Do they have a team to send to Johannesberg?

That and the ball keeps blowing up. And don't forget the IEDs set up near the goal posts.

89 Thanks Bro. By the way, is my old country still the scientific capital of the world? Posted by: Ptolmey at April 27, 2010 05:34 PM (7BU4a) At least there's still a cultural capital named Memphis...

90 Palerider: "Of course this totally screws people who have saved. And it also puts more working people into the upper income brackets so uncle Sam gets to grab a higher percent of their salaries."

Feature. Not bug.

91
Kings?

Posted by: wtfci at April 27, 2010 05:40 PM (+zo63)

You don't have kings with a democratic republic. You have the 1st citizen of the mob. Well, until the mob kills him and gives you an Emperor, but you get the point.

92
At least there's still a cultural capital named Memphis...

And Graceland. 

93

And don't forget the IEDs set up near the goal posts.

Is it goal posts or goal or net?

Whatever. I don't give a fuck. A sport where you can't use your hands or hit someone with real force ain't a sport. It's a hobby played on weekends by children.

94

Hmm, I wonder what it is about that Democratic Republics all have in common...

 

A security umbrella supplied by our fine young men and women.  oh yeah, our taxes too

95 Was it over when the Germans bombed Pearl Harbor?!  Hell NO!!

96

As in the financial crisis following the collapse of Lehman Brothers in 2008, investors around the world are fearful about who holds what debt and how much.

Unsurprisingly, stocks tanked.

Good--I hope it tanks further.  The DJIA got a 1000-pt goose since February based largely off of "rumors" that Greece would be bailed out.  The last two months, every time some economic metric here at home that couldn't be spun as positive was released, some jackass on Wall Street would float a "rumor"  that Greece would receive a bailout and the afternoon churn would produce a positive Dow number. This basically prevented a more pronounced, and realistic, double-dip in the market from ocurring.

But as Karl Denninger likes to point out, you can't outrun the math forever. 

97 >>>But I've heard that if inflation can be controlled from becoming hyper inflation it is useful for debt situations.

Sure.  But you can't control inflation when you're weak, monetarily.  That's the problem.  And the inflation, itself, weakens the monetary system further.  Besides, the situation you are talking about is only with respect to static (fixed rate) debts.  All new debt and variable rate debt becomes harder and harder to service with inflationary pressures, as the rates rise and accelerate.  Our national debt is heavily skewed towards the short end, these days, which means that the US dollar and the federal government's balance sheet is highly sensitive to interest rate changes.

>>>Greece is screwed now --their debt is in euro's so an inflated Drachma could only give relief wrt to public salaries and pensions.

There is no Drachma to inflate.  It was replaced by the Euro. 

>>>But U.S. debt is in dollars so if we had 10% inflation for 9 years its like halving the actual worth of the bonds the government has sold. Of course this totally screws people who have saved. And it also puts more working people into the upper income brackets so uncle Sam gets to grab a higher percent of their salaries. Its win win for Gub'mint.

Posted by: Palerider at April 27, 2010 05:36 PM (dkExz)

As I wrote above, inflation is dynamic, as are our debt requirements.  Inflation only helps those with fixed rate debt, and gives a slight economic boost at the start.  Inflation is pretty much like monetary cocaine.  It feels very good (though tolerance builds up pretty quickly) but always leaves the user in a worse situation than he had started out in, and with a strong desire for more, just to get the temporary (though rapidly dissipating) high even though he knows that the downer after will be even worse than what he is trying to avoid at the moment.

Inflation also puts the whole monetary system at risk.  Deflation never risks the monetary system, just economic stagnation.

98 The over/under is 30 days to full Greece default.  I'm betting the under.

99 Jeez, and I thought I had problems....

100

Think the Greeks would trade us the Acropolis for Obama? He has a sure fire plan to solve their problems I'm sure and it's not like we need him anymore now that we are on the road to recovery.

101

So if we can find a T country going bankrupt too...

J.US.T. P.I.G.S.

If you wait a while Turkey might oblige even though they are not in EU as such but depend upon it for jobs.

The main reason most of these countries joined is to get their hand on all the free Deutchmarks.  And then they kill the golden goose by moving all the industry to Korea and swapping the DM for the Euro.

102 Greece's 2yr bond now yields more than 15%.

Insanity.

All countries tied to the Euro will be affected. Right now they're worried about a run on their banks.

This could be really, really bad.

I've been out of the market since last October. Early? Apparently. I don't care. At least I sleep well at night.

103

This article says they cited the hero for carrying a concealed weapon, although he had a permit for the gun.

That's the part I just don't understand. 

104 104: Cool, I was not arguing for inflation --but its a fairly common theme lately that inflation does have a good side etc. I just hope we can get a majority of ADULTS (not just Rs) into congress in november and that things don't get too effed up before then. Well more than hoping -I'm actually making campaign contributions for the first time in my life. Just a drop in the bucket but if a large swathe of average citizens have also woken up to the fact that they need to counteract Soros, Goldman Sachs, the MarxSpewingMedia ........ it will make a real difference.

105 This is just a minor bump before the economy skyrockets back up in a V recovery. Buy that second house now!

106 Can I interest you in some GOLD right about now?

107

This article says they cited the hero for carrying a concealed weapon, although he had a permit for the gun.

I don't understand it either. I hope to learn more in the next couple of days. I think some of the reports are still dodgy.

108 market is still up 50% from its low

109 Think the Greeks would trade us the Acropolis for Obama?


Fuck that noise. Styrofoam doesn't weather well.

110 I seem to recall, in the 70's I think, the Greek government nicking the US for its Greek bases, even to the point of charging the US to leave. N Posted by: Arbalest 70's was the coup by the "Colonels" esentially a military junta that took over. The Americans sided with the Colonels, and we have paid for it ever since from the leftists/anarchists. 17 November was the primary terrorist group that went after our personnel there, including Welch, and a couple of defense attaches. The PASOK (extreme left) government, under Panadreou, knew exactly who perpetrated these crimes, but did nothing. In 1990, the Greek government demanded that we close all of our military bases on the mainland, and on Crete. In one of the few beautiful pieces of legislation to ever come out of Congress, the US voted to close the bases the day before the Greek vote took place. Needless to say, the Greeks started protesting at the Embassy that we were depriving them of their livelihood. Which we were-a healthy portion of their GDP. But when the pricks were blowing up our people, threating our embassy and flinging bombs into it, I think we were justified. Now, I don't know that this aided or abetted the monetary problems in Ellatha, but the Greek tax law was such that if you completed your home, you had to pay property tax on it. Thus, few homes were completed-they would have a portion "under construction" to avoid the taxes for the whole thing. Various service providers would go on strike for weeks at a time, often in concert-my favorite was the electric company/garbage collectors/taxi/bus drivers, who all took off for August and September one year. The garbage piled on the streets became a health hazard. Couple THAT loveliness with a propensity to harbor ALL refugees, including Palestinian terrorist groups, such as Abu Nidal, and this was a delightful place to live. So they are worth junk now? Boo freaking hoo.

111 >>>Cool, I was not arguing for inflation --but its a fairly common theme lately that inflation does have a good side etc.

I didn't think you were arguing for it.  The idea that mild inflation isn't so bad and that deflation is death has been a nonstop theme in America for some time.  Most Americans take it a law of Nature.  The major difference is that we have never been this weak, monetarily (and all the moves we did in moving private liabilities to the public books for the credit crisis just made our monetary stance even weaker) and we were able to control inflation, with just a middling amount of pain, at worst.  Our government debt also got moved to the short end in a big way for the credit crisis, along with the fact that the population (which used to almost exclusively be in the long end of the debt market - 30 year fixed loans and no credit cards) has also moved to a position much more sensitive to interest rate moves.  I would also add that the lower down payments on real estate made real estate prices more closely connected to interest rate moves.

>>>I just hope we can get a majority of ADULTS (not just Rs) into congress in november and that things don't get too effed up before then. Well more than hoping -I'm actually making campaign contributions for the first time in my life. Just a drop in the bucket but if a large swathe of average citizens have also woken up to the fact that they need to counteract Soros, Goldman Sachs, the MarxSpewingMedia ........ it will make a real difference.

Posted by: Palerider at April 27, 2010 06:08 PM (dkExz)

I hear you.  This is one of those major forks history - though I pretty much think that we already took the wrong road and are pretty much committed.

112

market is still up 50% from its low

 

---------------------------------------------------

 

Yep happy days are here again. The national debt is up about 50% from its low too. But who cares about that.

113 This article says they cited the hero for carrying a concealed weapon, although he had a permit for the gun.


I suspect that the citation is PD/DA SOP for any CCW-involved shooting, as part of the investigation process.

114 We demand a pay raise, increased vacation time, and improved pension benefits. We will work slowly and inefficiently until these demands are met. Afterwards, too.

115 the Greeks should just print more money... Works for us 

116 Hang on Greece! as soon as we can jam this Cap n Tax bill thur we'll all be swimming in dough.

117 They should really keep out all those Turks. 

118 a lot of greece's economic misery is directly related to a large and corrupt government. stories of schools with more teachers than students that continue to hire, taxes so high that no one bothers to pay them, do-nothing government workers with incredible benefits... ...sound familiar? sound like California? sound like the Chicago way? i wonder about giving up on my beloved America, and taking over Mexico. we conservatives have all the guns and know how to shoot, weather's good there, i hear they have great health care, and intelligent immigration policies...

119

From what I read, Portugal is next.  Not sure if Ireland and Italy are still in line.  I have seen reports that Ireland is not.  The big worry is Spain.  They actually could handle Portugal and Greece, but Spain would break the bank.

People in Greece are going to have to start working for a change. 

I have always said that France could be France, and Greece, Greece because America was always there as a balance.  This is true militarily, politically and economically.  They could behave like teenagers, or worse, and not bear the costs of their actions or inactions.  The one thing Obama is doing is taking away that balance.  Time for reckoning.  Soon to come gyro chow mein.

120 I have always said that France could be France, and Greece, Greece because America was always there as a balance.

France is probably wealthy enough to be France regardless of American influence.  The problem is Greece is trying to be France and they just can't afford it.

121

Hey Greece,

It's only debt if you have intend to pay it!

122 Greece? We banned that stuff in restraunts.

123 Since the Greeks starting Western Civilization it's only fair they should end it.

124 82 81 World Cup in S.A. this time around and should be interesting (if we make it that far)

Especially if al Qaeda shows up.

Posted by: HeatherRadish at April 27, 2010 05:35 PM (mR7mk)

'They make the playoffs?

Why yes, in two events: the Javilin Catch and the Suicide Bombing auditions.  Unfortunately the quarter final play-offs led to the al Qaeda players being eliminated in the first round by the first few rounds of .50 cal.

125 I wonder how much George Soros has made of this latest round of misery.

126

NOTE that the countries about to sink the Euro and _______ are SOCIALIST!!!

These Socialists are now demanding bailout funds from Capitalist nations.  There's a lesson here.

127 Further note that the folks in the USA who started this global recession are, yep, you guessed it, SOCIALISTS.  Socialists buying votes off the backs of working men and women.

128

Tanzania, Ireland (back in), Canada and Estonia.

JUSTICE PIGS.

It has merchandizing potential.

At any rate, Germans are pissed off and don't want to bail Greeks out. They may toss Merkel's goverment out over it.