Via Peter Tchir of TF Market Advisors
If a leader in the Middle East finally gave into months of protest and decided to give the people a real say on an important issue, the Western leaders would be rejoicing. Obama would have a podium and be uttering his support for the Courage of the people who stood up and give the Arab spring his full blessing.
But if a fellow Western leader dares let his people express their wishes more directly than via "their representatives" they are all shocked and outraged. Papandreou now gets to go the G-vingt-et-un meeting in luxurious Cannes. What are they going to do? Slap him around for not being able to control his people? C'mon poppy, the rest of us can bend the will of our citizens, why can't you?
In the meantime other Greek politicians are busy taking advantage to gain power rather than helping their citizens.
Sometimes we wonder why people hate wall street more and more?
Likely this gets averted in the short run but then we can get back to the rest of the failings of the Grand Plan. With help from China the Greeks could default and implement the asset sales others have proposed, but actually directly benefit from them. Besides in an ever more government controlled system you might as well work with the Chinese as they are much better at capi-communism than the west has shown itself to be.
It seems that more and more we are likely to "save" our system. I just wonder if that system is worth saving. In meantime I need to figure out what to do with my short since for better or worse I'm part of that system and not doing much to change it.