Beware of Greeks bearing requests for bailout money

    “American taxpayers should not be forced to bear the risk for nations that have avoided making tough choices.” Congressman Mike Pence (R-IN) 5/13/10 As noted on my post Medusa is alive and well.. from several days ago, the US is already on the hook for $6.8 billion dollars to bailout Greece. We could be subsequently on the hook for $50 billion more to other European | Read More »

    America and Greece: Beware the Path of the Black Cat

    In you live in America, Europe, or many other places on the planet, then you probably have heard the tales of bad fortune that befalls unprepared souls who allow a black cat to cross their paths. In this realm of superstition the most capable and blessed black cat path-crossers find themselves with bad fortune, and heaps of it. In an ironic twist of fate, it | Read More »

    Foreign Policy Implications of Greek Financial Crisis

    Most of the focus on the Greek (and likely entire EU) sovereign debt crisis has been its potential impact on the global economy. Some other focus has been on the US’s involvement in bailing out Greece. But, Marc Ambinder details the possible foreign policy implications of Turkey taking a large role in bailing out Greece. (emphasis by Marc) A bit of (vital) esoterica. In the | Read More »

    Greece and the New World

                                           Greece –  Going Broke Without an Underclass When I began my tour with the Air Force at the base which was at that time contiguous with the airport in Athens, my colleagues warned that a trip to a Greek government office was a prolonged encounter.  In a visit, I noticed a supervisor had a long finger nail on one pinkie.  This was a sign that | Read More »

    Euro-TARP: The Euphoria Didn’t Last

    As I wrote here yesterday, we ‘ve just seen the remarkable spectacle of more than a dozen fractious finance ministers come together to puncture the risk of a Lehman-style market debacle. Taking a page out of Ben Bernanke’s playbook, they cobbled together and announced a package of 750 billion euros (nearly a trillion dollars) in liquidity guarantees. Think about that number. It’s twice the size | Read More »

    Euro-TARP: The Euphoria Didn’t Last

    As I wrote here yesterday, we ‘ve just seen the remarkable spectacle of more than a dozen fractious finance ministers come together to puncture the risk of a Lehman-style market debacle. Taking a page out of Ben Bernanke’s playbook, they cobbled together and announced a package of 750 billion euros (nearly a trillion dollars) in liquidity guarantees. Think about that number. It’s twice the size | Read More »

    Obamaism Following Greek Example Spells Disaster For America

    The world has been an eye witness to the total collapse of a sovereign Nation. This collapse is not the result of an invading army or a dictatorial regime whose tyrannical leader has died creating a power struggle for control. This collapse in not the result of a military coup which forced the Nation into chaos. This collapse was the direct cause of cradle to | Read More »

    Caution Lights Flashing in Europe

    The situation in Europe in regard to Greek debt may be entering a new phase, and I’m talking about something more serious than tear gas and Molotov cocktails. Now that the EU and the IMF have agreed on (and the key legislatures have ratified) a 110 billion euro bailout for Greece, the question has become: will it be enough? Greece faces unusually severe austerity budgets, | Read More »

    Caution Lights Flashing in Europe

    The situation in Europe in regard to Greek debt may be entering a new phase, and I’m talking about something more serious than tear gas and Molotov cocktails. Now that the EU and the IMF have agreed on (and the key legislatures have ratified) a 110 billion euro bailout for Greece, the question has become: will it be enough? Greece faces unusually severe austerity budgets, | Read More »

    Who You Gonna Call?

    The answer to that question is simple, the US of course. Some months ago I made a comment to Skip that the EU would be lucky to survive another ten years. It now looks like my estimate could have been generous. Greece is all but bankrupt, Portugal and Spain are teetering on the brink, Italy and Ireland are close behind. This week, Britain announced that | Read More »

    A side-by-side anatomy of the Greek Riots…on Horseback

    If this sounds like a political analysis, it’s not. It’s about riots and face-offs. It’s about violence, who perpetrates it and who stops it. It’s about who’s under the color of law and who’s not, who’s on the inside looking out, and who’s trying to break in. It’s about who’s on the horse or behind the shield, and who’s being ridden down by that horse, | Read More »

    Tags:

    Where Will the Bailouts End?

    I’ve had enough of bailouts. We’ve bailed out auto companies, we’ve bailed out banks, we’re about to bail out Wall Street, and now we’re on the hook for bailing out Greece? How much more can we take before taxpayers decide to bail? Admittedly, America’s involvement in the Greece bailout is tricky to understand. To keep the country out of default the European Union and International | Read More »

    Trouble In Greece, And Contrary Market Indicators

    We’ve had a remarkable run in US notes and bonds over the past several weeks. The economically-sensitive 10-year note briefly yielded more than 4% in mid April. After an astounding rally yesterday, buying in the 10-year continues this morning, and its yield is down to 3.57 as I write. I’m at a loss to convey the magnitude of this move in such a short time. | Read More »

    Trouble In Greece, And Contrary Market Indicators

    We’ve had a remarkable run in US notes and bonds over the past several weeks. The economically-sensitive 10-year note briefly yielded more than 4% in mid April. After an astounding rally yesterday, buying in the 10-year continues this morning, and its yield is down to 3.57 as I write. I’m at a loss to convey the magnitude of this move in such a short time. | Read More »

    Future Under Obamanomics

    The very same policy ideas and principles underlying Obamanomics and the far left wing of the Socialist Workers, er Democratic Party are at play, in real time, before our very eyes.  If we need any examples of economic doom under this regime’s government takeover of healthcare, education, and energy, we need only to glance briefly to our south and our east.  Venezuela’s Hugo Chavez is | Read More »