Art Cashin On "Greece In A Capsule"

Tyler Durden's picture


Short, sweet, and cutting right to the chase.

Greece In A Capsule - Here’s the outlook on Greece from Wall Street watering holes. If a coalition government is formed or looks to be formed, global markets may rally. Any coalition is unlikely to make progress on goals, since austerity is political suicide. There will likely be another election around June 10/17. A workable majority/plurality remains unlikely, so back to square one. Therefore, Greece will be unable to attain goals by the deadline (June 30). Lacking aid funds, pensions are suspended and government workers are laid off. Protestors take to the streets and government is forced to revert to drachma to avoid social chaos. Pass the peanuts, please.

Source: UBS Financial Services

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Tue, 05/08/2012 - 09:29 | 2406147 Stackers
Stackers's picture

Boiled, Roasted, Salted or Un-Salted ?

Tue, 05/08/2012 - 09:32 | 2406152 GetZeeGold
GetZeeGold's picture



I prefer dry-roasted.....where did that damn stewardess go?


Tue, 05/08/2012 - 09:42 | 2406204 idea_hamster
idea_hamster's picture

"revert to drachma to avoid social chaos"

But everyone keeps saying "revert to drachma will trigger social chaos."  

I need the new edition of the English/MSM BS dictionary....

Tue, 05/08/2012 - 09:46 | 2406227 GeneMarchbanks
GeneMarchbanks's picture

Um, me threee.

Tue, 05/08/2012 - 11:53 | 2406856 JPM Hater001
JPM Hater001's picture

Well, I think if the drachma are made of wood they are a goner.

Tue, 05/08/2012 - 10:02 | 2406321 XitSam
XitSam's picture

Your bunker has a stewardess?

Tue, 05/08/2012 - 09:32 | 2406153 SilverTree
SilverTree's picture

"Can you hear me Major Tom?"

Tue, 05/08/2012 - 09:31 | 2406158 midgetrannyporn
midgetrannyporn's picture

It will be funny and far away to the wall street bunch until the spit is slid up their asses and an apple shoved into their mouths.

Tue, 05/08/2012 - 09:33 | 2406162 Cognitive Dissonance
Cognitive Dissonance's picture

"Pass the peanuts, please."

Sorry, but we have progressed to cashews in one hand and pistachios in the other. And a Big Gulp balanced precariously on the arm rest.

Let the games begin.

Tue, 05/08/2012 - 09:33 | 2406165 williambanzai7
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Tue, 05/08/2012 - 09:35 | 2406168 francis_sawyer
francis_sawyer's picture

How about we just break his nose & call it a day? (or is that rayciss?)

Tue, 05/08/2012 - 12:06 | 2406909 Variance Doc
Variance Doc's picture

Had to login for green arrow on this one.  Brilliant!

Tue, 05/08/2012 - 09:34 | 2406170 distopiandreamboy
distopiandreamboy's picture

TL;DR: heads I win, tails you lose

Tue, 05/08/2012 - 09:36 | 2406175 sabra1
sabra1's picture

times are tough, i tried to roast my nuts, dang! if i don't have to shave my bikini line anymore!

Tue, 05/08/2012 - 09:36 | 2406176 youngman
youngman's picture

He is right....but the markets will go up...bonds will hold....and someone in the end will lose a lot of money.....who who who got the bonds..the pensions..

Tue, 05/08/2012 - 09:55 | 2406197 Cognitive Dissonance
Cognitive Dissonance's picture

Do not try to find the spoon bonds or pensions. That is impossible. Instead, only try to realize the truth. There is no bonds or pensions. There is just the illusion of wealth and money.

Once you realize this you will be free from their trojan horse money meme.

Tue, 05/08/2012 - 09:37 | 2406183 Peter Pan
Peter Pan's picture

Greece has lready hit the windscreen and we just have to stop looking in the rear vision mirror to realise it.

Tue, 05/08/2012 - 09:47 | 2406232 BLACK_DOG
BLACK_DOG's picture

"windscreen"  "rear vision mirror"

Where are you from?

Tue, 05/08/2012 - 09:58 | 2406293 Cognitive Dissonance
Cognitive Dissonance's picture


They talk funny up there. :>)

Tue, 05/08/2012 - 10:04 | 2406326 rqb1
rqb1's picture

England, it is a windshield

Tue, 05/08/2012 - 10:54 | 2406597 Peter Pan
Peter Pan's picture

God's country......Australia. Unfortunately we have a government that just handed down a budget tonight filled with useless goodies designed to buy votes and kill the future.

Tue, 05/08/2012 - 12:06 | 2406915 Logans_Run
Logans_Run's picture

Welcome aboard! It has become fashionable most everywhere else!

Tue, 05/08/2012 - 12:38 | 2407035 theTribster
theTribster's picture

Welcome. Its a growing club. As your housing bubble explodes I imagine we'll see more and more Aussies here at ZH. This is the place to be if you want to get any cue what is really going on. Anyway, Welcome aboard.

Tue, 05/08/2012 - 12:50 | 2407073 Mentaliusanything
Mentaliusanything's picture

But, But its paid for out of the World highest Carbon Tax !!!

You know, take from the sheep 4x and return 2x to the sheep. ... Fucking Bread and Circuses.

But, But ..whats that you say... the Mining Companies will pay tax on super profits and that will cover it all the pork barrelling. Let me tell you they are way ahead of that Redhead Bitch.

"Socialism is the Best form of Government .... Up until you run out of other peoples money"

Tue, 05/08/2012 - 14:02 | 2407433 Whatta
Whatta's picture

we have a government that just handed down a budget tonight filled with useless goodies designed to buy votes and kill the future.

What, the US House Dems just emigrated to Australia?

Tue, 05/08/2012 - 09:37 | 2406184 skistroni
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"Protestors take to the streets and government is forced to revert to drachma to avoid social chaos"

Which government is he talking about?

Tue, 05/08/2012 - 09:45 | 2406196 GeneMarchbanks
GeneMarchbanks's picture

Wondering the same thing. I think it's not so much a prediction but some more pleading.


Tue, 05/08/2012 - 09:49 | 2406248 Peter Pan
Peter Pan's picture

Does the government have enough paper and ink in stock to print a new currency?

Tue, 05/08/2012 - 09:38 | 2406188 vote_libertaria...
vote_libertarian_party's picture



Don't they have singing or dancing shows to watch?  


What savages.

Tue, 05/08/2012 - 09:52 | 2406190 Stuart
Stuart's picture

The white house better be paying attention.  This is a pre-screening of what is coming to the US but it will be worse much worse where ther are more guns than cars.

Tue, 05/08/2012 - 09:37 | 2406193 timbo_em
timbo_em's picture

I'm sure that after more than 24 months in crisis mode over-paid and over-pensioned policymakers and central banksters are well prepared if Greece exits the eurozone.



Tue, 05/08/2012 - 09:40 | 2406202 manhunter
manhunter's picture

Returning to the drachma prevents social chaos? Right, destroy the savings of Greeks by paying them in worthless drachamas and they will feel better. Oh, and raise prices by at least 50%?

Not going to happen.


Tue, 05/08/2012 - 09:42 | 2406208 williambanzai7
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Tue, 05/08/2012 - 09:47 | 2406239 GeneMarchbanks
GeneMarchbanks's picture

Slightly less funny than Art's diatribe. You tried so +1.

Tue, 05/08/2012 - 09:50 | 2406254 williambanzai7
williambanzai7's picture

Reader submission: Loukanikas the Riot Dog demonstrates Munger Mask deployment

Tue, 05/08/2012 - 09:58 | 2406301 Cognitive Dissonance
Cognitive Dissonance's picture

What banzai7 department do I submit reader's porn to? :)

Tue, 05/08/2012 - 09:59 | 2406308 williambanzai7
williambanzai7's picture

Customer service Mumbai

Tue, 05/08/2012 - 10:01 | 2406310 williambanzai7
williambanzai7's picture


Tue, 05/08/2012 - 10:10 | 2406362 Cognitive Dissonance
Cognitive Dissonance's picture

Nice tats.

Tue, 05/08/2012 - 09:47 | 2406230 Stoploss
Stoploss's picture

Lots o stops at 1350

Tue, 05/08/2012 - 09:56 | 2406284 GetZeeGold
GetZeeGold's picture



Always dreaming.....never buying.


Tue, 05/08/2012 - 09:48 | 2406238 ReeferMac
ReeferMac's picture

Popcorn is much healthier than Peanuts. Sheesh!

Tue, 05/08/2012 - 10:00 | 2406309 Cognitive Dissonance
Cognitive Dissonance's picture

I love my popcorn drenched in 10W30 genuine imitation butter.


Tue, 05/08/2012 - 09:49 | 2406245 Seorse Gorog fr...
Seorse Gorog from that Quantum Entanglement Fund. alright_.-'s picture

No, no, no, no. Imagine how many knobs have been handled by unwashed hands diving into those peanuts before you.

Tue, 05/08/2012 - 09:58 | 2406296 astoriajoe
astoriajoe's picture

Maybe because people are already using other non-euro, non-drachma medium's of exchange:

Edit: This was in response to an earlier post. Anyway, the link is interesing on a bartering system popping up in Greece.


Tue, 05/08/2012 - 10:01 | 2406312 Temporalist
Temporalist's picture

The "capsule" is a handbasket and the destination is hell.

Tue, 05/08/2012 - 10:09 | 2406359 wonderatitall
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Tue, 05/08/2012 - 10:16 | 2406395 elamar
elamar's picture

next step: stop payment of all external debt except for trade lines and interbank lines. I've seen this movie before. Now the EU will have to restructure their debt.

Tue, 05/08/2012 - 10:35 | 2406444 franzpick
franzpick's picture

Here's another capsule view, of a national tax revolt, from Manos in Greece, last fall:

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.

Tue, 05/08/2012 - 10:32 | 2406481 q99x2
q99x2's picture

Greece can back the drachma with gold. Oh no they can't banksters stole the gold earlier in the year. Oops.

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