The Fourth Reich

The Greeks are cowards. Gutless, spineless cowards.

 All of them.

The leaders capitulate again and the populace still are afraid to fully commit themselves to a course of action to put new leadership in place that will work on their behalf, not the creditors. Oh sure they protest, throw rocks and strike a lot...  far more than any American would do in similar circumstance.  But they still believe the lies and want to stay in the Euro.  

So you get what you get.

So here's a brief recap:  First, that Sunday deadline that got pushed to Monday?  Now they say there is no deadline.  Then the troika basically say in layperson terms-- "Concede and bow to us or Default- either way, we are tired of you pathetic people"   So...

Greece caves in on 15,000 civil service firings (AP) -- "Greece's coalition government on Monday caved in to demands to cut civil service jobs, announcing 15,000 positions would go this year, amid mounting international pressure to agree on austerity measures needed to secure major new debt agreements... the job cuts would be carried out under a new law that allows such firings."

Next to be conceded is minimum wage, then it will be officially over- total political, global humiliation.  And the nation is still going to economically going to crash & burn.  It now will do so as an economic colony of Germany.

Portugal, Ireland, Italy & Spain.. you are all next.

If you know anything about WWII history, in a sense Greece is the modern version of 1930s Czechoslovakia-- taken over by Germany without a shot being fired, and you will hear leaders proclaim in most Neville Chamberlain-like fashion after Greece's surrender of autonomy is official that there will be economic peace in our times.

The modern Germany is the Fourth Reich.  The most wealthy and powerful nation in Europe.  And they want control politically and economically.  In some ways, no different than their predecessors except without the desire to exterminate people based on religion and ethnicity.

We said it a million times... we say it again:  Greece should outright Default.. do it today... do it immediately.  Don't even give advance warning.  Dramatically rattle and make chaotic the world markets and trigger the Credit Default Swaps...

Only a brave nation would do this to revenge against their financial oppressors.

Greece is not that nation.

Friday the 13th- semi scary & semi-funny

So much to write about this Friday the 13th, but since I am a little bit under the weather, we'll stick to highlights and summaries- enough information to keep my readers well-informed without ruining their weekends...

~  File this under "Too Funny.." -- we mentioned earlier in the weekend that Fitch's credit rating agency promised France it would not lower its undeserved AAA pristine credit rating until at least 2013.  And markets rejoiced, and the snotty, snooty French became more smug...

Well it turns out there isn't just one credit rating agency that determines how nations are to be rated, but three-  Fitch, Moody's and S&P which today announced they will cut the credit ratings of France along with Austria and two notches cut for Italy, Spain and Portugal.   S&P would spare Germany, the Netherlands, Finland and Luxembourg the axe this go-round.

The official announcement will come at around 4:30 pm ET, after the US stock market has closed, (though the roaches who profit on Wall St. aren't taking it well so far) so there's always a chance things can be altered, but if sources are correct...

 Hawww Hawww Hawww~

~  Next topic: Greece...  Here's the quickest, most concise summary I can give as to where things are at moment:  Greece is virtually bankrupt. It needs another 130bill Euro to survive. Its running out of bare necessities like aspirin.  Parents literally putting children on streets with notes saying they can't take care of them anymore....

Germany says "Greece, you must negotiate with bondholders and banks to come to an agreement First.  Bondholders and banks say: Fuck you & your problems Greece- we're not taking any more cuts--give us our money!  So Stalemate for now.  IMF- US owned & run finance arm doesn't want to keep helping Greece; looks horrible for Obama in election year.  No one wants to prop Greece anymore but everyone scared of consequences if they don't...

Will more billions upon billions be poured into Greece's caverns?  And what about Ireland, Hungary, Portugal, etc...  Stay tuned folks and keep a clean pair of panties or undies nearby.

~ The NY Times wrote a good article today entitled, Inside the Fed in 2006: A Coming Crisis, and Banter.  Its a long article which you can read in its entirety by clicking the link below via Yahoo! Finance:

http://finance.yahoo.com/news/inside-fed-2006-coming-crisis-124207691.html

Here are a couple of my favorite nuggets:

"“We think the fundamentals of the expansion going forward still look good,” Timothy F. Geithner, then president of the Federal Reserve Bank of New York, told his colleagues when they gathered in Washington in December 2006.  Some officials, including Susan Bies, a Fed governor, suggested that a housing downturn actually could bolster the economy by redirecting money to other kinds of investments."

"And there was general acclaim for Alan Greenspan, who stepped down as chairman at the beginning of the year, for presiding over one of the longest economic expansions in the nation’s history. Mr. Geithner suggested that Mr. Greenspan’s greatness still was not fully appreciated...  "I’d like the record to show that I think you’re pretty terrific, too,” Mr. Geithner said in adding his voice to the chorus of tributes at that final meeting (of Greenspan's- Jan '06). “And thinking in terms of probabilities, I think the risk that we decide in the future that you’re even better than we think is higher than the alternative.”

 And lastly.. "“It’s fitting for Chairman Greenspan to leave office with the economy in such solid shape. The situation you’re handing off to your successor is a lot like a tennis racquet with a gigantic sweet spot.”" -- Janet Yellen, then president of the Federal Reserve Bank of San Francisco

Is it any wonder this nation, and the entire global economy is in such dire straits with such soulless incompetents like Greenspan running things then, and in the case of Golden Boy Timmy Geithner, running things still today?

Time Magazine - Feb 15, 1999; Cover Text: "The inside story of how the Three Marketeers (Robert Rubin, Alan Greenspan & Larry Summers) have prevented a global economic meltdown-- so far"