Eurotrash

Reuters published an article yesterday about a German poll that 'shows' German opposition to the Greek bailout. Moreover, the poll demonstrated that common Germans supported the idea of throwing Greece out of the Eurozone altogether. So much for European Union and mutual support...

I had no particular intent to pretend to justify what Greeks have been doing under the leadership by both Socialist and Conservative parties in the last 10 years. As someone claimed, Greece is a poor country but Greeks are bleeding rich! How come? It's called massive citizen tax evasion, obnoxious tax controller corruption, and cabinets of lying bastards. Add these to do the math. Result: Modern Greece real* budget deficits jumping off the charts. But Greece is not alone in its problems. The recent crisis hit equally many more needy countries in the Eurozone, like Spain, Ireland and Portugal to mention a few. And how about Romania and Bulgaria? Are these 'clean'? Because, if you're looking to start a consulting practice in tax evasion and other forms of corruption, then, it's here you need to recruit your best experts. And, by the way, how about Austria and Hungary, whose banking systems are chronically under severe threat of defaulting, taking the rest of our own banking industry down the drain?!

Long story short. Europe suckz big nowadays, almost everywhere. However, as clumsy as they are, my 'poor' Greek compatriots managed to get stuck in the bull's eye of everybody's radar screen, especially the Wall Street short-selling hawks who have been looking desperately for any dark stories to start a wave for short-selling anything that moves. And the Greeks eventually made the headlines, while hordes of Eurotrash bureaucrats continue to take the piss on them, with that genius ECB chairman Trichet barking all over.

Of course, the media are playing their beloved and insanely irresponsible role too. Some among them went to poll a bunch of German xenophobes who are so keen to always discount anything non-German in a heartbeat, of course. I bet you a year's salary that multiple questions in that German poll were about throwing Greece and other poor countries off the Eurozone. Like, any average Kraut knew what "Eurozone" means, in the first place. It's reminiscent of what some great mind once said: With polls and statistics you can always prove whatever your heart desires. Using stats is like the equivalent of faking an orgasm while masturbating. The maximum of self-deception, in other words.

Whatever...

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*Following the advice of a few Wall Street sharks, who fucked-up the US economy during many years of masterful financial engineering trickery, such as the likes of JP Morgan and Goldman Sachs, the Greek authorities were able to hide huge loans from their Eurostat disclosures, and could therefore be considered to have fulfilled the Eurozone requirement of staying below the regulating 3% GDP in its budget deficits. They did that by using, among other, derivative mechanisms that were perfectly 'legal', like interest rate and currency swaps. But, as we all know, financial engineering cannot create value out of hot air... if spending remains high, GDP low and tax percentages invariable (leading to tax income below spending), financial engineering will only delay the inevitable end. It's like morphine to cease the pain of a terminal cancer patient. With its 10 million inhabitants the 300B dollars of Greek national debt translates into 30K of burden for every man woman and child in the 'cradle of civilization'. No wonder that the cash-running-off-their-ears Chinese won't touch Greece nowadays even with a long pole!