So, the Greek economy has been on the verge of collapse for months. The European Union (EU) this past week approved a bailout that would for the foreseeable future allow them to continue to participate in the EU and the euro. In an apparently unexpected move, Greece’s Prime Minister, George Papandreou, plans to put the proposed eurozone bailout to a referendum, ostensibly in response to the widespread protests by many Greek citizens concerned about the austerity demands that the bailout will impose on the country in return for the debt relief. In other words, less javelin throwing and Artemis worship. I kid; the Greeks no longer recognize Artemis as a viable deity. And, javelin tosses are down almost 70% from the 8th century B.C.E anyway. So no real loss there.
Anyway, the EU and many other observers have demonized Papandreou for the move, which will almost certainly jeopardize the bailout for its unpopularity among Greek citizens and, thereby, throw the EU and much of the modern financial world into alleged turmoil. (See today and yesterday’s stock activity.)
In that vein and as a brief frolic from the main point, I have also used today’s song to sound like a crazed hobo offering you financial advice (read “Jim Cramer”). Your money does not effect the stock market. Your, your neighbors’, and my money pooled together times 25, carry the 5, injected with steroids, wearing a Prada cash clip, lacquered in crystalline Trump sweat doesn’t affect the stock market. There are a handful of institutional investors who move the needle. Period. Those same people are not effected by all these pretextual economic calamities. Instead, they use them as cover to get out and back in the market at a benefit to themselves. You know how they tell us not to freak out and sell when things go bad?? Then why do they sell (because trust me, and let me repeat, your and your yahoo neighbors’ combined panic is not crashing the market)?? Oh, I know why — maybe to artificially and swiftly force down the prices for the opportunity to buy at a better value!!!! I know these things. And, by “I know them,” I mean I made them up because I’m so mad. [Disclaimer: To the extent I am ever under any consideration for judicial or public office, the opinions expressed by me in this blog are not approved by, neither are they the opinions of, me. They reflect exclusively the views of not me.]
Back to Greece. So, Papandreou swears the referendum will pass. And, it better, because all indicators are that other EU participants will vote to excuse Greece from the party if it doesn’t. But, the crazy irony of the criticism is that Papandreou is doing something quintessentially democratic. (It may also be political (although he’s losing seats fast and faces a confidence vote of his own tomorrow).) But, here in the cradle of democracy, Greece is being criticized for elevating to a place of priority the voice of her people. And, in that way, it’s almost as if the reaction to these ideals, in the very place of their birth, is also now their casket.
Performed by ipoet. Music produced by pumpkinFoot.
Today’s song blog here:Stack Dough (Like Baklava)