A Morn'in Coffee Salute to Ya'll,
Well, I awake to the ongoing carnival and related sideshows; better known as the Greek Carnival.
The Greek PM; further named here as Pop, has called for a vote of confidence from the Greek parliment in the next few days and then a vote of "the people", sometime in December or January 2012, as to whether the EuroZone bailout is the way to go (at least, this is what I think I understand). Ok, Pop; what the hell is this plan all about? Do ya'll want to be EuroZone kids or not? What are your real options? Perhaps you'll have more fun using the drachma again, eh? It all ends as an "orderly" or "disorderly" default, at which point you have already arrived, eh?
The Greek Carnival has been in "Monetary Town", or at least made itself known for more than two years. It is hard not to notice that there are not many visitors to ride the rides, and that the midway and sideshow areas have fewer and fewer players. Folks, it is time to tear down the setups and realize it is time to either move along to the next town, or pack it up and relax in the "winter home"; and await the next summer touring season.
Ralph Nader became noted for a write in the 1960's; "Unsafe at any Speed", regarding the Chevrolet Corvair auto. Yes, this car was small and set upon a uni-body chassis; and sure as hell could be unsafe if involved in an accident with any of the other full frame and body vehicles of the time period. I could say the same about a similar accident that would involve a full-sized car of the time and a motorcycle. So, Mr. Ralph; what else is new in the world of physics that concerns velocity, momentum and weigh?
Just when you may think that it may be safe to have unprotected monetary (equity) intercourse; well, one finds that what was thought to be a working vaccine (EU plan) to help prevent the further spread of of those dreaded cooties is now again making headlines that some may be refusing to be vaccinated.
So, here I am; attempting to drive away from what I thought was going to be the closing of the Greek Carnival, only to find that it appears that a very large Greek semi-truck is driving in the wrong highway of investments lane and may come headon into my dear, little investment Corvair; and it does not even have more than a lap seatbelt to protect me or our monies, which are in the front trunk of the car (rear motored).
So, the carnival that I thought was leaving town finds me thinking about driving on another investment road, which again finds me and our money being at risk; from what appears to be unavoidable vehicular/montary intercourse of the worse kind.
We have to look no further than our own portfolios to find the damage, eh?
A side note: "Hey, honey; pull the anchor and get the motor started; we're going back toward the shoreline in that safe harbor."
Ok, I step down from the bitchbox; to allow for a new speaker.
Take care of you and yours,
Catch
Comments
From BBC and NPR combined (Ok, everybody here has listened to one or the other this morning, or read WSJ), it seems to depend on how the referendum is pitched to the Greek demos: if pitched as "Do you want to stay in euro-land?," the referendum could succeed in approving the EU bailout plan (latest edition). Unemployment rate is ghastly. But the flame-throwers have been acting out, and when forced to decide matters for themselves rather than have Pops tell them what to do, they might get serious. (I don't have any great hopes.) As BBC pointed out, China manufacturing is off because China depends on euro states to buy stuff.
And so it goes.