Why The Taxpaying Populace Of Greece Better Stock Up On Their Grease!

Reggie Middleton's picture

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Thu, 07/07/2011 - 20:20 | 1434584 Zero Govt
Zero Govt's picture

Reggie, fab stuff again :)

Ok so Greece is going bankrupt, the $160bn question is when?

Given whenever Greece gets money it pisses it away faster than its official spending plan, and its book always leak faster than the official balance sheet, can you give us a back of the envelope (ok use a calculator) estimate of how long it'll take Papaparasite to suck this lastest bucket of bailout Eurohopium dry please???

Thu, 07/07/2011 - 15:59 | 1433814 Juice Box
Juice Box's picture

Default is the way to go Bitchez!!!

What ever happened to lender liability?  All lenders in corporate finance must be able to show a court that they presumed the borrower could reasonably pay off any debt.  In the 80's, there were scores of lender liabilty lawsuits.  Why can't countries apply the same logic?

Thu, 07/07/2011 - 16:20 | 1433892 edotabin
edotabin's picture

Default: It all depends who is being asked. 

The politicians created this mess in Greece by subverting society with complete dependence on the state. So, now they are facilitating this "deal"

The people are lost, scared and lack any type of compass (moral or otherwise) The only thing they can do is protest and break stuff.

Thu, 07/07/2011 - 15:52 | 1433776 disabledvet
disabledvet's picture

I'm still looking for a plan of action tough guy.  I said buy Wisconsin Energy when it was at 30 (double), buy DirecTV after all of the CNBC variant of the street said sell this past December (up 30 percent) and take a position in what are called "convertible preferred" in El Paso Energy Partners after New Years.  El Paso energy has had an extraordinary run up ever since.  Of course i'm not really interested in all that stuff--here's my view


Thu, 07/07/2011 - 15:05 | 1433560 allenaki
allenaki's picture

Chef of the left party says that: a part of the capital is being destroyed in order to be replaced by another one.

Thu, 07/07/2011 - 13:31 | 1433172 Printfaster
Printfaster's picture

The Icelanders are returning to productive activities like fishing and agriculture.

Another interesting proposal waiting possible construction is a DC line to Scotland.  Perhaps they can export geothermal electricity to Europe.  There is gold in them volcanos.

Thu, 07/07/2011 - 16:08 | 1433850 Whatta
Whatta's picture

I hear Iceland is increasing their export of volcanic dust to Europe.

Thu, 07/07/2011 - 13:29 | 1433155 JailBank
JailBank's picture

Watch your back Iceland. Can JPMorg take out an entire nation? Well we know they'll try.

Thu, 07/07/2011 - 15:38 | 1433707 disabledvet
disabledvet's picture

They can.  Having said that i fail to see how it's not..."counter-productive."  i would think a more reasonable approach is simply to advise the European variant of masters of the universe given our own experience in 2008 and "keep the line open" if they wish to call.  indeed the same advice could be given by our policy makers in DC as well. 

Thu, 07/07/2011 - 13:25 | 1433142 NERVEAGENTVX

Plain vanilla default?...Selective default?...Geez, I never thought so much grey area existed between being able to pay your bills and being insolvent. What a wonderful world we live in to be able to have so many options.

Thu, 07/07/2011 - 17:07 | 1434124 Zero Govt
Zero Govt's picture

yes amazing how many words politicians come up with to hide inherent incompetence (and the rest) ...my fav' is "austerity" which makes you think of the streets in 1929's Great Depression with hungry skinny people but what we're really talking about is an obese 29 stone pig still downing 12 Big Macs and 8 Doghnuts a day having his finger dips taken away

British "austerity" involves trimming a pissy little £6bn off a £126bn deficit (still adding £120bn to the national debt per year) ..it's beyond pathetic 

Thu, 07/07/2011 - 13:11 | 1433111 equity_momo
equity_momo's picture

Reggie , the tax paying populace of Greece that have never fudged their tax returns doesnt exist.  This austerity is like grabbing sand. More and more will avoid taxes and more and more will lose jobs thus pay zero taxes. Greece is on bailout lifesupport until the European project goes Supernova.

Thu, 07/07/2011 - 12:51 | 1433032 Bicycle Repairman
Bicycle Repairman's picture

As long as Greeks are given the job of collecting taxes and enforcing order on their fellow Greeks, there's going to be less revenue and order than expected.

Thu, 07/07/2011 - 15:28 | 1433660 BorisSDT
BorisSDT's picture

Understatement of the century.  Have you read Michael Lewis article?  Here is my profanity laden summary of it: http://www.singledudetravel.com/2011/07/greece-greed-graft-and-the-grim-...

Thu, 07/07/2011 - 13:24 | 1433140 Jonas Parker
Jonas Parker's picture

Yeah! Where are the Nazis when the banksters really need 'em? [/SARC]

Thu, 07/07/2011 - 13:35 | 1433189 Bicycle Repairman
Bicycle Repairman's picture

That's what it'll take.  Not gonna happen. Not unless general mayhem breaks out.

Thu, 07/07/2011 - 15:32 | 1433677 disabledvet
disabledvet's picture

There's a guy by the name of General Mayhem?  Whose he?

Thu, 07/07/2011 - 13:57 | 1433266 Pladizow
Pladizow's picture

The Greeks and many others (Washington) have kicked the can into a cul-de-sac, they have no more road and now the idiots are going around in circles!

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