May 14, 2010

You are damned if you do, damned if you don't.

The short version of it is that we can not win!

A few weeks ago they came out how bad is the financial situation in Greece. The world fell into a total depression because of what might happen if they go into bankruptcy.

Really, what happens if a country goes into bankruptcy? Will they auction them off to the highest bidder? Will George Soros or Donald Trump or some unknown Russian billionaire will buy them?

If Trump buys Greece he would probably tear the whole thing down and build a humongous and prohibitively expensive development called the Greecy Trump.

If a Russian billionaire would buy Greece he would tear it down and build a huge house in the place of the Pantheon.

If George Soros would buy it he would convert the entire country to a bank where he could keep his money.

I can not see anything else that might happen if they declare bankruptcy.

OK, these things didn't happen, they averted financial disaster. The European Union and the IMF decided to help them out with a little pocket money. I think they decided to give Greece about 1 trillion dollars. That is a nice chunk of money.

When that news came out the financial markets breathed a sigh of relief and after several days of sinking they decided to rise again. Things started to look rosy again. Even in this country things were looking good.

At first it looked that even though the foreign outlook was not that bright but since the homefront was doing good the market reacted positively.

Yesterday everything went up very nicely.

But nothing good lasts forever.

If there is nothing to worry about somebody will find something.

So, today the market went through the floor, dropping 162 points, because they were worrying about Greece's capability to repay the interest on the loan three years from now.

Can we not be just happy about what is happening today and not worry about three years from now?

But unfortunately we are members of the universal economy. A bank falters in Greece and Citibank or Chase in New York gets hurt. These institutions are now all connected by an invisible umbilical cord.

Why can they not mind their own businesses? Why American banks have to suffer because of a foreign country's mistakes?

I tell you why, because of universal greed! And there is no greater greed than in the American banking system.

If the American banks would be happy to make money within our borders and would not try to expand their tentacles across the world we would not be in this hot soup.

Why would I need a Citibank branch in Downtown Ulan Bator? I don't.

So what is the solution to this universal mess we got ourselves into?

Make Greece part of North Korea and let Kim Jong-il fix their problems. That will tech them not to spend more than what they have.