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Thoughts from Athens
I talked to someone in the shipping business this morning. He happens to be Greek and has substantial interests in the country. We never did get around to talking about ships. Some of his words on the status quo in Greece:
The situation today is worse than ever. Business has stopped
The world does not appreciate the extent of social deterioration in the country.
Soup kitchens are forming to feed people.
Many old age homes are desperate. Many are indebted. The have been pleading for donations.
Wealthy ship owners have been discussing a private initiative to provide support for those on the edge.
There is no possibility for a unity government. There is less chance for this in Greece then there is in the USA. You think there is a problem between Democrats and Republicans? Here, they hate each other.
Papandreou was desperate to get out. He could not see how he could continue to play a confrontational role with the Greek people. He was losing his ability to maintain civil order. He did not want to govern a country that was going to become either a police state, or fall into a state of revolution.
An interim government may pass new laws and make promises to the EU and IMF. Most in the government want to stay in the EU and stick with the Euro. It’s in their best interests to do so. That’s what the EU is pushing them day and night to do.
It’s way to late for this type of orderly transition. It will end badly for Greece.
There is a sense of optimism in the markets and the press that a soft landing can be achieved in Europe. That a “solution” is hours away. Only “one more” vote in parliament is required in any of the countries facing trouble. The financial resources needed to address the problem are available. There may be a temporary liquidity issue but solvency is not a question. The social, political and economic consequences of what will come are all manageable.
I thought I would provide this fellow’s thoughts as a contrast to all that hopium.
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Where are the Articles of Confederation when you need them?!
On this subject then, which states do zerohedgers believe have the strongest adherence to the constitution?
And would they be able to fight off an overbearing fed gov?
Please let's start such discussion and get opinions.
Maybe Tyler can head off a new article on this.
Fight off the Federal Gubmint, you say? Sign us up! Here in SC, we might be among the least equipped for the battle, but we would certainly be first to join the fight. We may be dumb, but we are proud....and don't you forgit it.
Vermont rules, bitches.
Live free or die.
bernie sanders.
Being from Greece (but living in the US) here is what I've heard from talking to family back home.
Farmers in my town havent been paid for their goods because all the brokers are going bankrupt because they havent been paid. Its a fucking daisy chain that has blown up. Unemployment is skyrocketing in the country and people are getting desperate. I get hit up on facebook all the time from friends and cousins that want to come out to the US. As bad as things are over here, Greece is 10 times worse.
Another example is a gas station owner who gives people in the town free fill ups. If he refuses them gasoline they threaten to no longer do business with him so he is now in the hole 350k which in turn has put him in the hole with the gas providers. Its a crazy situation, with no one paying bills and everybody owing money to everyone else until the domino falls.
Sorry about all the hardship. I love all things Greek...especially weddings!!! We had some close family friends while growing up who are Greek. They totally get how to enjoy life and family. I hope that they will come out stronger from this and be able to breathe easier one day.
Sorry to hear this news but I hope you keep reporting. I read the Greek papers every day - English translation but no one speaks of these things! Sincerely, wr
The entire metal production is shutting down this month all over Europe, so the that means the rest of the metal industry is shutting down also.
It's 100% the same as it was in 2008 just before every business dropped 50% in turnover.
We're all hanging onto our boots here for what's to come and now this is set in motion, it would take 4 months just to get it starting again so the recession is a surtainty now.
Let's all hope it doesn't get worse than 2008.....
just call if you need a "reload from Uncle Sugar." We got your back.
My local greek diner has three new employees; all from Greece -- they are sleeping on one of the other guys couches. The owner's wife asked to keep a look out for a cheap cash, as-is rental (ie no writ of habitation worries).
Heard on Bloomberg Radio this AM that the EU wants Greek leadership to sign a paper agreeing to the terms of the bailout. No really. This is what's it's come down to: politicians extracting promises from politicians, and thinking that because it's in ink, it's durable.
Nothing changes; some years ago lots of European politicians got written agreements with Hitler.
Guy called Chamberlain got a written agreement with Hitler for the UK.
Churchill's comment was 'You were given the choice between war and dishonour. You chose dishonour and you will have war'.
He was, of course, correct.
Thank you for sharing.
I would be very interested in anything your friend (or ship owners in general as it were) might want to write/publish through you for the ZH audience. Do ask, even if you expect a "No". This kind of insight/understanding can not be achieved through examination of news and such.
I think this is very important because, in my mind, what is happening is a process of monetary collapse. Yank the funding and eventually this will be the norm. If Italy blows up in two or three months, ending up at the same cross roads Greece is at now, why would it be different in Italy?
To borrow a phrase and bend it a bit, I feel like "we are all Greek now".
Regards,
Cooter
I will send him your note. I'll let you know.
bk
Other reports from greek locals tell me there is an actual tax strike already in progress and no amount of refinancing or political manuevering will stop an upcoming collapse. I am adding this short excerpt from shtfplan.c because the greek and european leaders involved deserve a good pasting:
On the ground report from Greece by Manos
September 11, 2011
Today, after two years of screwing and pressing us, most households and businesses have stopped paying. Stopped paying taxes, utility bills, toll fees, or anything else related to the government.
Two hours ago, this same government announced a new property tax (added to the 2 previous ones). This one will be calculated on every and each household, business, cottage, or even a barn for animals. It will be 4 euros per square meter calculated immediately, to be paid by this December the latest.
Which new, added tax, will also go unpaid.
Today, after two years of screwing and pressing us, most households and businesses have stopped paying. Stopped paying taxes, utility bills, toll fees, or anything else related to the government. <----You know, I think this could be a plan for America! Let's do it!
In this world you get what you pay for. Greece? Not so much.
The only difference will be the speed. Once it becomes obvious that one goverment can't pay everything speeds up. The next one will come quicker, look at Italy now. Then there will be 4 or 5 at the same time and then it's everyone for himself. Then they will pick up the pieces. All the promises will be broken and the strange dream/nightmare that was socialist europe will have ended. Replaced by reality. You have to work to eat. Charity is a gift, not a right.
Dup
Dup.
"Charity is a gift, not a right."
Unless, of course, you have some strong ties to the FED.
Or one of Obama's Witless Sycophants. They seem to think they are entiltled to free food, free park space, etc., and they get mad when someone objects. There was this:
Protester throws fit in McDonald's when he can't get free food
http://www.nypost.com/p/news/local/manhattan/camper_mac_attack_IErwi9aOGMCPDdYJw2WcyI#ixzz1dAEoGuur
I also remember reading about two street vendors getting trashed when they stopped giving freebies to OWS.
And OWS seems not to care about the truly disadvantaged:
http://sacramento.cbslocal.com/2011/11/07/homeless-clash-with-occupy-sac...
If you mean the form of sex, yes, we are all Greek now.
Ben Dover, calling Ben Dover.
He's unavailable, Sir. He's having lunch with Phil McCrackin to discuss the Greek situation with that Greek fellow, Harry Paratestes.
What, nobody invited Hugh G. Rection?
He's out to lunch with Mike Hunt.
Hoping that Phillip McCavity will show up!
Poor Greece :(
Greece V 2.0 will be better.
Democracy is the theory that The People deserve to get exactly what they want.... And good and hard!
Democracy trumped liberty and freedom, and has been manipulated mercilessly by the power structure. To expect the collectively ignorant to somehow create genius from their voting efforts is sheer stupidity.
And so we are reminded why the founding fathers of the United States held high liberty and condemned democracy as dangerous, fools' folly. The "poor Greeks" have elected those who have shackled them and their grandchildren in chains of debt and endless servitude. The rest of the world follows, the U.S. dimwitted voting majority soon enough.
Thus, the shitwinds blow from of bowels of economic hell unto those who forsake liberty for free lunches and perceived security backed by the raw freedom killing violence that is at the heart of all government power.
Spot on. And as long as we have two political parties, an electoral college, and the Fed in it's present pimped and aborted form to run it all, American Democracy will remain a sideshow.
"end up losing democracy too." perhaps the market is rallying into Europe's implosion so it can move there? Is there any rule of law left in America?
Did you think you'd see hope at the end of a rope?
rope-a-hope
preferably from the end of a lamppost
http://www.youtube.com/watch?v=Myqffx8Mdg4&feature=feedu
See NWO plans implemented.
I prefer to get my news from ass-kissing morons who work for the officially sanctioned news agencies. I mean, who wants to know what is actually happening to people when you can hear the official spin regurgitated by people who have never left the comfort of home or a 5 star hotel room when they go "on location".
Really, thanks for this report - we could really use more. This backs up my experience last month when I was in Rhodes and spoke to an expat who ran a business there - they were very down about their future there and were getting hammered from the govt looking for cash.