Theater Of The Absurd: Greece Has Already Missed Its June Budget Target

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Mon, 07/04/2011 - 12:16 | 1424419 Reese Bobby
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More austerity!  Maybe cut out one meal a day and stop having kids?

Mon, 07/04/2011 - 12:52 | 1424517 Sudden Debt
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Or more Kids and sell them to the Africans?


Mon, 07/04/2011 - 13:25 | 1424614 Ahmeexnal
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Did Greece read the fine print on the conditions of the "bailout loan"?

Massive forced sterilization.
And no "free Tata Nano" as in India.

Mon, 07/04/2011 - 13:43 | 1424668 Oh regional Indian
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That has to the weirdest India story in a while. Become half a man, get a free four wheel motorcycle, feel like a full man again.
Firing blanks, India style.


Mon, 07/04/2011 - 16:04 | 1424987 trav7777
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this is a fantastic idea...they need to implement that in africa and in the USA as well, everywhere in the 3rd world.  I love the idea of incentivizing the teeming masses not to have more children.

We should give high IQ people a free car to have kids

Mon, 07/04/2011 - 20:41 | 1425383 Bob
Bob's picture

You obviously haven't been to a MENSA meeting.  Either that, or you're one of the dweebs who are always there?

Mon, 07/04/2011 - 13:51 | 1424702 max2205
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At least the weather is nice here in the Hamptons

Mon, 07/04/2011 - 14:22 | 1424779 MolotovCockhead
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No, sell them to European get better price. Contact the Vatican first, Catholic priests are always interested in such deal.

Mon, 07/04/2011 - 15:55 | 1424973 trav7777
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Africans already can't feed their own kids without massive continual western food aid.  If that aid ever stops, tens or hundreds of millions will die

Tue, 07/05/2011 - 04:07 | 1425997 MadeOfQuarks
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They don't really need western food aid, but have become dependent on it because it's there. Producing food is just about the only thing they know how to do, but when you get free food why bother?

Mon, 07/04/2011 - 16:58 | 1425084 sun tzu
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The other choice is for the greeks to start working and making products and services that other people want. That's how the rest of the world survives. Nobody forced them to borrow money to take bailouts. They can simply default and live within their means. That means they either consume less or produce more. 

Mon, 07/04/2011 - 12:17 | 1424420 ADirtyChapCalle...
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Mon, 07/04/2011 - 12:18 | 1424421 Version 7
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The pace of events is becoming to be so unreal, it gets more and more difficult for us folks to come up with a rational post of some sort. Reallity doesn't help indeed.

Mon, 07/04/2011 - 13:40 | 1424653 Oh regional Indian
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The "pace" is key. Paying attention to the general acceleration is a huge tell tell in terms of where we are headed.


Mon, 07/04/2011 - 12:21 | 1424430 LMAO
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If that's the case, they better get on the phone with the IMF and ECB ASAP and tell them to raise the bailout ceiling pronto.



Mon, 07/04/2011 - 12:21 | 1424434 digalert
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IMF (verb)

definition: I 'M' Fucked

Usage: "I tried my best and now I M Fucked.

Mon, 07/04/2011 - 12:49 | 1424505 augie
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Mon, 07/04/2011 - 12:52 | 1424511 Mae Kadoodie
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IMF=It's My Funding...and i'll cry if I want to...(you would cry too if it happened to you)                                                                                  

Mon, 07/04/2011 - 12:54 | 1424526 Sudden Debt
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It's My Funding, and YOU can Cry if YOU want to but we won't give a shit.

Mon, 07/04/2011 - 12:22 | 1424435 Popo
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Lending people absurd amounts of money is only slightly less stupid than asking people with an obviously infinite credit line, to live frugally.

This is already comical.

Mon, 07/04/2011 - 12:28 | 1424453 zeusman
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Were you talking about the endless line of free money to the investment firms e.g. Goldman and their subsequent irresponsible issuance of record bonuses??  Just curious..

Mon, 07/04/2011 - 17:21 | 1425111 sun tzu
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How about everyone

Mon, 07/04/2011 - 13:03 | 1424557 centerline
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Party on before the credit line gets shut down.  Drinks for everyone!

Mon, 07/04/2011 - 12:23 | 1424437 slow_roast
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Can't they just value the country at $500B, cut off 1/3rd of it, and call it a day?

Maybe they can hand over the rest of the country to Libyan rebels and let them have at it.

Mon, 07/04/2011 - 12:26 | 1424444 zeusman
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Which brings up the next question: in a bankrupt world in which the official newsflow is one farcical lie after another, why even bother any more.


Why? The "Lies" are working.. No?  People all around the world still go to their local ATM's and pull out paper currency of which a dollar bill will still buy you 1 bean burrito at Taco Bell..    Fiat fast food is delicious

Mon, 07/04/2011 - 16:16 | 1425018 trav7777
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those still come without sawdust, right?

Mon, 07/04/2011 - 20:49 | 1425393 zeusman
zeusman's picture

No sawdust but a healthy dose of genuine simulated beef.

Mon, 07/04/2011 - 12:25 | 1424445 thunderchief
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OK.  Greece is a country in Southern Europe.  It was where the Empire of Greece began over three thousand years ago, and where there are still still ruins such as the Parthenon and Acropolis.  There are many gods that are from this period, and some of them have as much legitmacy as many western gods today. Thankyou and have a  nice day. 

Mon, 07/04/2011 - 17:22 | 1425114 sun tzu
sun tzu's picture

Thanks for the history lesson. So what's your point?

Mon, 07/04/2011 - 12:25 | 1424448 nickels
nickels's picture

Trade stocks, invest in entropy.

Mon, 07/04/2011 - 12:29 | 1424452 Jambo Mambo Bill
Jambo Mambo Bill's picture

This wasn't a surprise at all... However the coming events will be entertaining to watch just like the band playing in the last moments as the Titanic sank.

Mon, 07/04/2011 - 15:16 | 1424893 Reese Bobby
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"You can't really dust for vomit."

- Nigel Tufnel

Mon, 07/04/2011 - 12:31 | 1424459 tao400
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Actually Tyler the correct question "in a farcical world...." is how to protect yourself. That really should be the discussion at this point forward. Please post articles about this. Obviously, we know that gold and silver is a solution. However, it would be nice to read an article that talks about a whole portfolio of things with a degree of subtlety that can be done to protect yourself. Faber and Rogers hint at it over and over.

Mon, 07/04/2011 - 12:33 | 1424466 zeusman
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Evidently short term bonds of countries deemed to big to fail (see Greece last week) appears to be a good risk free trade.

Mon, 07/04/2011 - 12:36 | 1424477 tao400
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I put some money in the Pimco Total return fund hoping those guys got me covered in that regard.

Tue, 07/05/2011 - 09:43 | 1426298 smiler03
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Top German Economist invests in Greek Bonds.

"Homburg: In recent days, I myself have invested a considerable sum in Greek bonds. They will mature in one year's time and, if all goes well, produce a 25 percent return on investment. I sleep very soundly at night because I believe in the boundless stupidity of the German government. They will pay up.",1518,770673,00.html

Mon, 07/04/2011 - 12:32 | 1424463 Kokulakai
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Perhaps they will be awarded the Giosmas discount.

Mon, 07/04/2011 - 12:32 | 1424465 partimer1
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The whole bailout thing is the European countries give money to big European banks, just like US fed reserve give money to TBTF banks. Greece is just a conduit for this to happen.

Who the fuck in the right mind will give a red cent to Greeks, expect them to pay back?

Mon, 07/04/2011 - 12:36 | 1424474 Jambo Mambo Bill
Jambo Mambo Bill's picture

Exactly!! Crazy amigo !

Mon, 07/04/2011 - 12:38 | 1424481 tao400
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They are not in their right mind. In fact, they are freaking. The whole thing is hanging by a thread due to the derivatives. They have no other choice. Again, the question is how to protect yourself. Gold, silver, store food, invest in foreign countries. It would be nice if we knew for instance what Bill Gross, Jamie Diamond and others etc are doing. They already know what will happen.

Mon, 07/04/2011 - 12:39 | 1424484 Joebloinvestor
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Theater of the absurd.

The EU is funding the Greek strikes.

Mon, 07/04/2011 - 12:39 | 1424485 americanspirit
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What is so breathtaking about the EU machinations regarding Greece is how many more countries are equally on the verge of insolvency. It isn't even conceivable that the EU banking system could address multiple defaults occurring simultaneously or even sequentially when you look at the Keystone Cops approach they are making to this one very small country. And by the way, anyone laughing their ass off at 'those lazy Greeks' better look in the mirror - the Greeks are no more and no less addicted to the welfare state than most of the rest of the world. Coming soon to a theater near you - and I do mean you (and me too) - Meltdown.

Mon, 07/04/2011 - 13:24 | 1424603 Popo
Popo's picture

The only reason the nations of the world haven't been spending their days invading and killing one another (as has historically been the case) has been due to the 'wealth effect' of credit creation.   

Now that those days of credit expansion are over,  we will shortly be resuming our regularly scheduled activities.

Mon, 07/04/2011 - 13:35 | 1424636 Toxicosis
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Agree 100%.  Even though many may be on food stamps in your country, access to credit in multiple forms as here in Canada has artificially supported consumption and survivability.  When people lose their capacity for an even meager survival, desperation kicks in, and yes regularly scheduled programming vis a vis war and chaos is the treat of the week.

Mon, 07/04/2011 - 13:36 | 1424643 Toxicosis
Toxicosis's picture

Agree 100%.  Even though many may be on food stamps in your country, access to credit in multiple forms as here in Canada has artificially supported consumption and survivability.  When people lose their capacity for an even meager survival, desperation kicks in, and yes regularly scheduled programming vis a vis war and chaos is the treat of the week.

Mon, 07/04/2011 - 16:31 | 1425043 Ghordius
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We have several going on

Mon, 07/04/2011 - 20:34 | 1425374 Xaqaria
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What nation isn't invading and killing people right now?

Mon, 07/04/2011 - 12:42 | 1424488 disabledvet
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Bother with not being a media enterprise to begin with?  It is said of Oracles that they themselves are a form of media so it may not be possible to ever turn off Zero Hedge whatever's one view of the site as it may simply engage in some form of tranferrence from one person to the next.  What the USA bailouts represent to me is a fighting chance for a new beginning.  What happens when Greece defaults as it now appears it was suppose to have today?

Mon, 07/04/2011 - 12:44 | 1424491 LRC Fan
LRC Fan's picture

Greece can and should just keep taking more and more bailout money, and then when the payments come due tell everyone to fuck off.  The way things are today, the EU/China/US will keep throwing good money after bad until the problem goes away, which it never will.  I say keep spending more, missing your budget targets, lowering your GDP, and increasing your national debt, then ultimately defaulting.  Maybe that will finally implode this fucked up system of fiat, endless bailouts, and warfare/welfare bullshit. 

It's not like the normal citizens of Greece are seeing a dime of this bailout money, just like here in the US.  I didn't see a fucking penny of the TARP or AIG bailouts, yet "we the taxpayers" were supposedly paid back in full.  So I say let the governments of the world print, bailout, borrow, tax, and spend at an ever higher rate, so that the system simply collapses. 

Mon, 07/04/2011 - 12:44 | 1424494 Superslam
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This is getting really crazy. Whenever the fundamental weaknesses of the neofunctionalist Eurofantasy manifest themselves, the EU kicks the can some more, and the Euro goes higher with each new "solution." I can't wait until S&P says that they were just joking, and that the Greek debt restructuring is actually not a default. That should be good for another 400 pips on the EUR/USD 


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