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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 | Link to Comment Stackers
Stackers's picture

Boiled, Roasted, Salted or Un-Salted ?

Tue, 05/08/2012 - 09:32 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

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

 

Tue, 05/08/2012 - 09:42 | Link to Comment 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 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Um, me threee.

Tue, 05/08/2012 - 11:53 | Link to Comment 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 | Link to Comment XitSam
XitSam's picture

Your bunker has a stewardess?

Tue, 05/08/2012 - 09:32 | Link to Comment SilverTree
SilverTree's picture

"Can you hear me Major Tom?"

Tue, 05/08/2012 - 09:31 | Link to Comment 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 | Link to Comment 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 | Link to Comment williambanzai7
williambanzai7's picture

IN CASE OF OUTLIER EVENT

Tue, 05/08/2012 - 09:35 | Link to Comment 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 | Link to Comment Variance Doc
Variance Doc's picture

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

Tue, 05/08/2012 - 09:34 | Link to Comment distopiandreamboy
distopiandreamboy's picture

TL;DR: heads I win, tails you lose

Tue, 05/08/2012 - 09:36 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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.

http://www.youtube.com/watch?v=ZaJPNrf1DPY

Tue, 05/08/2012 - 09:37 | Link to Comment 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 | Link to Comment BLACK_DOG
BLACK_DOG's picture

"windscreen"  "rear vision mirror"

Where are you from?

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

Maine.

They talk funny up there. :>)

Tue, 05/08/2012 - 10:04 | Link to Comment rqb1
rqb1's picture

England, it is a windshield

Tue, 05/08/2012 - 10:54 | Link to Comment 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 | Link to Comment Logans_Run
Logans_Run's picture

Welcome aboard! It has become fashionable most everywhere else!

Tue, 05/08/2012 - 12:38 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment skistroni
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?

Tue, 05/08/2012 - 09:45 | Link to Comment 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 | Link to Comment 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 | Link to Comment vote_libertaria...
vote_libertarian_party's picture

"protesters"???

 

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

 

What savages.

Tue, 05/08/2012 - 09:52 | Link to Comment 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 | Link to Comment 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.

[/sarc]

 

Tue, 05/08/2012 - 09:40 | Link to Comment 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 | Link to Comment williambanzai7
williambanzai7's picture

RIOT DOG GETS READY

Tue, 05/08/2012 - 09:47 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

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

Tue, 05/08/2012 - 09:50 | Link to Comment williambanzai7
williambanzai7's picture

Reader submission: Loukanikas the Riot Dog demonstrates Munger Mask deployment

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

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

Tue, 05/08/2012 - 09:59 | Link to Comment williambanzai7
williambanzai7's picture

Customer service Mumbai

Tue, 05/08/2012 - 10:01 | Link to Comment williambanzai7
williambanzai7's picture

MUNGER MASK DEPLOYED BY LOUKANIKAS THE RIOT DOG

Tue, 05/08/2012 - 10:10 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Nice tats.

Tue, 05/08/2012 - 09:47 | Link to Comment Stoploss
Stoploss's picture

Lots o stops at 1350

Tue, 05/08/2012 - 09:56 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Always dreaming.....never buying.

 

Tue, 05/08/2012 - 09:48 | Link to Comment ReeferMac
ReeferMac's picture

Popcorn is much healthier than Peanuts. Sheesh!

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

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

Yum!

Tue, 05/08/2012 - 09:49 | Link to Comment 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 | Link to Comment astoriajoe
astoriajoe's picture

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

http://www.youtube.com/watch?v=9y9R0v96K48&feature=player_embedded

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 | Link to Comment Temporalist
Temporalist's picture

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

Tue, 05/08/2012 - 10:09 | Link to Comment wonderatitall
wonderatitall's picture

WHAT? NO ONE WILL LEND THESE "GOOD" PEOPLE MONEY SO THEY CAN LAY AROUND AND WELL , DO NOTHING BUT PROTEST! THE NERVE .....HEY, OBAMA-KONY , TELL US AGAIN HOW LUCKY WE ARE YOU DOG EATING MONGREL  AND BUFFETT LOVER

Tue, 05/08/2012 - 10:16 | Link to Comment 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 | Link to Comment 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.

http://www.shtfplan.com/headline-news/warning-for-americans-be-safe-and-stay-alert-its-coming_09132011

Tue, 05/08/2012 - 10:32 | Link to Comment 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.

Tue, 05/08/2012 - 10:43 | Link to Comment Madrid2020
Madrid2020's picture

FORWARD!

Tue, 05/08/2012 - 10:48 | Link to Comment Gamma735
Gamma735's picture

You can't improve until you have hit rock bottom.

Tue, 05/08/2012 - 12:35 | Link to Comment dbTX
dbTX's picture

It's all Greek to me.

Tue, 05/08/2012 - 12:44 | Link to Comment theTribster
theTribster's picture

That is a great forecast, I'll need more popcorn for this. The big fat dude always makes me laugh when I see him - I think he is from PASOK and a bailout backer. It would seem that the left could bring enough pressure to bear on these two old parties - I mean they know they writing is on the wall based on the election results. Now would be a good time to compromise in the other direction, huh?

Here's hoping the Greeks exit the Euro prison and start down a real path to recovery (and regaining sovereignty).

Kamiso Bernanke! (FUCK You Bernanke in Greek I think/hope).

Tue, 05/08/2012 - 18:17 | Link to Comment gerryscat
gerryscat's picture

A break-up of the Euro would be a victory for the 99.999% and a loss for the elites. Big government bad; small government... better.

Sun, 05/13/2012 - 23:26 | Link to Comment qiongqiong
qiongqiong's picture

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