Rethinking Greece

By: Dan Perrin (Diary)  |  October 14th at 08:36 AM  | 

Wait, there is yet another “Greek financial crisis” story out of Europe. Yawn. Yawn again. When the royalty of Europe spent to much, the result was, “Quick — tax the subjects!” This has been the preferred mode in dealing with bailing out those who lent to Greece. But now the lenders are now finding out it was the gypsy Madame Zorba who wrote their fictional | Read More »

Madame Zorba, Magic Money and the Half-Maxine

By: Dan Perrin (Diary)  |  September 16th at 11:32 AM  | 

As whispers became shrill rumors of a Greek default last week, it became clear that the Federal Reserve was going to “inject liquidity” into the French banks that could not find overnight funds on the open market. Markets are disciplined. The Federal Reserve magic money machine is not. When the market decided the three French banks were over-extended in Greece, and loaning them money was | Read More »