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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Stackers's picture

Boiled, Roasted, Salted or Un-Salted ?

GetZeeGold's picture



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


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....

JPM Hater001's picture

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

XitSam's picture

Your bunker has a stewardess?

SilverTree's picture

"Can you hear me Major Tom?"

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.

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.

francis_sawyer's picture

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

Variance Doc's picture

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

distopiandreamboy's picture

TL;DR: heads I win, tails you lose

sabra1's picture

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

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..

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.

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.

BLACK_DOG's picture

"windscreen"  "rear vision mirror"

Where are you from?

Cognitive Dissonance's picture


They talk funny up there. :>)

rqb1's picture

England, it is a windshield

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.

Logans_Run's picture

Welcome aboard! It has become fashionable most everywhere else!

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.

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"

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?

skistroni's picture

"Protestors take to the streets and government is forced to revert to drachma to avoid social chaos"

Which government is he talking about?

GeneMarchbanks's picture

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


Peter Pan's picture

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

vote_libertarian_party's picture



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


What savages.

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.

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.



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.


GeneMarchbanks's picture

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

williambanzai7's picture

Reader submission: Loukanikas the Riot Dog demonstrates Munger Mask deployment

Stoploss's picture

Lots o stops at 1350

GetZeeGold's picture



Always dreaming.....never buying.


ReeferMac's picture

Popcorn is much healthier than Peanuts. Sheesh!

Cognitive Dissonance's picture

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


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.

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.


Temporalist's picture

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

wonderatitall's picture


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.

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.

q99x2's picture

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