A reporter on the ground for Hawaii News Daily recently came to the conclusion about Greece, "we are doomed." Notice how the reporters tone changes in a matter of weeks from concern to hopelessness. Then again, from 4000+ miles away on the east coast of the U.S., we also determined that Greece was doomed simply by using basic math months ago. Now it's confirmed. It's also confirmed that by 2014, each and every EZ household will guarantee $2,100 of Greek debt. We ask again, what is the purpose of the EU?
Needless to say, the people don't want another bailout as tensions rise across Greece. The decision today could indeed change the course of history and set the nation into a different kind of spiral - the downward spiral of a collapsing society. That's a real reason to rally the markets - so is ratings agency Fitch saying Greece and the U.S. both face default risks. Ironically, two years ago in the financial blogosphere world, when "rogue" citizens made "outrageous" claims that the U.S. could see a debt downgrade or even face a possible default, overpaid talking heads on CNBS came out of the woodwork like cockroaches to discredit the blogging world. Boy, how the tables have turned.
Now, execs at Coca-Cola are claiming what "rogue" bloggers knew all along - Goldman Sachs is manipulating commodity prices. Well, duh! #winning! Of course they are and have been for a long time, but so have all of the other Too Big To Fail taxpayer funded banks which have been doing this to oil since the late 90's. Why, even "The Morgue" quietly admits to "renting out" a supertanker to store oil off the coast for investment purposes.
Speaking of investment purposes, the UK's debt to GDP just increased to 151.4% last month as it borrowed even more fiat money to keep the lights on. Of course, this would have made big news just a few years ago. Now, it's back page news. We're sure this debt to GDP ratio is completely sustainable and will be spun as very bullish for "the markets."
Speaking of completely sustainable, the
Last week, The New York Times ran an article stating, at the current rate it would take 62 years to complete the backlog of housing on the market in New York State. It should be noted that this is inaccurate and misleading since the methodology used is inaccurate. Using the historical average versus the current data set, it would take 12+ years to run through the backlog - a number still very staggering to contemplate and devastating to home prices. Housing recovery? Green shoots? Jobless recovery? Please, the comedy show is over...
and the circus is just getting started. To begin, we will list a few bullish events that have occurred in the past 24 hours alone. See if you can determine the
1) Tokyo area parents' radiation worries grow with discovery of local 'hotspots.' - Key point: Gov't calls for calm as radiation skyrockets in "safe zones."
2) Prestigious doctor: US nuclear 'Baby valley of death,' Millions to die. - Key point: Cover-up will lead to millions of deaths.
3) ‘It’s a sad day’ — Crest could be 10 feet higher than June 1. - Key point: Two nuclear power plants at risk of flooding and dozens of towns.
4) Radiation in Japan: Greenpeace Detected Cobalt-60 and High Radiation "Hot Spots" in Fukushima City in Fukushima. - Key point: Fukushima City is in severe danger, 300k people exposed to radiation and Cobalt 60.
5) 6.46 microsieverts per hour detected in outskirts of Tokyo just a few meters away from children on playground. - Key point: Children exposed to 1 mSv per week, every week because gov't says it's safe zone.
6) Japan’s recovery from Fukushima to be measured in centuries, judging by Chernobyl. - Key point: Fukushima is a global catastrophe.