A Greek Tragedy

The Kakistocracy

A brief post tonight on the unfolding debt drama in Greece. I’m sure the financial press has ably documented mechanics related to credit tranches and hypothecation. Though, as always, the most fundamental aspects are the ones considered unmentionable. Simply put, Greece can not natively maintain its overhead. Its standard of living is in excess of its capacity. That is not to imply extravagance, only a beyond-the-means situation. It is a country that wants to drink Sam Adams but can only afford Horse Piss. What goes politely unstated is that Greeks are not Germans.

Though in attempts to maintain pretense, they have accrued a handsome debt resulting from consistent deficits of income to expenditure. You may be aware of a much larger country with even more striking accounts in the red. Though in that case, dollars can be conjured from incantations for any irritating debt service requirements. Greece is not…

View original post 415 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s