For anyone interested in where it is going for Greece, the EU and also right here in Flag land. I think you will find this is really a good essay to consider.
See the second chart of what happened with Argentina when they where being eviscerated and it is somewhat of an indication of what we will probably see happen with
Greece's financial markets.
Hussman speculates the EU will kick the can down the ditch for awhile before they give it up.
Their will be some reevaluation as to who will remain in the money defined EU and then after the sorting
they will close the castle gates on the trash countries.
PIIGS are not invited to the party as they come in on a platter.
And of course US investment banks have been right in their offering their investors heads for slaughter, as they thought they would be making a easy buck
and be able to then run with the loot. They have been hedging the EU loans is what it sounds like to me.
And it may turn out not even the US government is going to bail them for their foreign mistakes.
So will this be a third step down and into the financial muck? Like in bubble, bubble and gulp!
And will the peoples money such as pension funds be involved?
We'll this article didn't state it, but these investment banks never use their own money.
Why should they when they can borrow at low or no interest from the Fed, or just use the funds coming in every month from the
retirement funds?
If we stand back and look at this situation. For the hedge funds, it's just a game where they can write the game rules and then click the keys
while they play.
And a basic premise for games is the team owners don't get hurt as that's what players are for to take the hits.
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