This is so painfully silly - Greece has become the minute to minute proxy for trading SPUZ - if there is a good Greece tidbit you gun the market if there is a bad one you sell SPUZ at the market.
So a country that has 3% of the European Unions GDP is now controlling every tick in the US market - silly, comical, misguided.
The underlying issue of sovereign debt is less comical - this is all just a precursor to the main events, Spain, Portugal and eventually Uncle Sam.....the only way we will not default is if the tax rate is about 90% and if the tax rate is 90% the economy is non existent and if the economy is non existent the market is toast.....you follow yet? We have generations of over consumption to blame for the current predicament - governments have been the kings of overspending - but while the bubbles were inflating you didnt notice..now every penny counts. The future is grim, painful, populations could begin to shrink....poor countries will be ruined as their rich brethren will not be able to afford to support them....It seems so clear to me which means Im fo sure wrong.
Oh well people you know what camp I remain in....
JB
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