Wednesday, November 10, 2010

Greece - Circling the Drain, Fiddling with the Second Derivative of 'Screwed' with respect to 'Time'

Zero Hedge has an interesting post about how the European debt crisis is set to be the next focus of the market.

What's well known is that in Greece they've been rioting over the austerity measures.

Now, given things are so cruel and awful (apparently) that these pampered government sponges are on the brink of revolt, you'd assume that the government  must be paying down the debt pretty fast now, right?

Okay, they're not.

But surely, at a minimum, they've at least stopped adding to new debt, right?

Okay, they haven't.

No, all these cry-babies have manged to do so far is commit to add to the mess at a slower rate.

What a triumph of public policy for this society of moochers!

Somewhere, Socrates is spinning in his grave and muttering to himself  "Stop claiming national greatness by association with me, you lazy selfish clowns."

(This post dedicated to The Greek, who was complaining today that "there's been too much Oprah stuff on the blog recently, and not enough economics")

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