I once had a friend.His name was Ralph. Ralph was a very good judge of artistic talent. He was also a fairly good businessman. Ralph was a couple yrs. older than I was but we usually engaged as equals. The clique we were a part of was not only creative but intelligent. most of us had a strong ability to think with both right and left side(sorry Greg). Ralph had a singular truism. America will not act unless and until there is only one path to take. It was his unshakable belief that the greatest nation on earth could only act when there was only one clear avenue to travel. This is in complete unison with BigBen’s copy and paste of his last position, namely wait and see.
It is almost surreal that we are actually waiting with bated breath to see what the ECB will do. We are no longer in control of our own fate. It is a sick and demeaning reflection of the USA’s current position but it is what we deserve given our abdication of everything that makes us free market champions.
Europe as savior? Really? Kurwa!!
Germany has made it clear that they are not about to foot the bill for the top hat-less greeks or anyone else.
What the fuck do really expect from this mish mash of Old World relics?
It is like watching a bad soap opera. Monti is trying to outmaneuver Angela with the help of Mario, meanwhile the Spanish and the Greeks quietly sit in the corner looking for any straw that will make them look legit and Italy just keeps boiling water for the pasta.
I have said, since the day I first tried, with limited success to join this august group of gentlemen(my bad entirely), that cash was king. If the EU fails to deliver then the blood will flow. Do not be comforted by the fact that you will know the EU fail prior to the markets opening stateside. The open will be down by 10 if not 20 percent. Draghi has made the proclamation. But he has zero ability to deliver. I see no way for the markets to be appeased by platitudes this time. Either the ECB delivers or the bottom falls out.
I do not envy those who bet on a rescue plan.
This could be the day.