The second shoe has arrived ladies and gentlemen. With Greece fast on it’s way to default the econocrati are panicking. (Yes I made that word up) It appears the greeks (grecians?) want no part in the nessecary belt tightening that Greece needs to do to keep from default. This could easily cascade into a domino effect of defalt throughout the European Union and the world.
For quite a while now the Obama administration and most major media outlets have touted an end to the recession has occurred. We are in recovery, albiet a slow one. Let’s just say for a minute that that is true and that the optimistic economists on MSNBC or CNN aren’t just babbling about recovery out of fear. What happens to the EU if Greece defaults… then Spain… then take your pick? What happens to our recovery if the EU can’t keep it’s head above water? To quote the smart Gremlin in Gremlins 2, “I’m advising all my clients to buy stock in canned food and shotguns…”
Also let us not place all the blame on the excesses of the Socialist Greek government. What about the mysterious mistake/selling/weird thing that happened with the US stock exchange yesterday? Even the Obama administration isn’t going to rule out foul play accordding to Drudge. Smells like Soros. Didn’t he almost collapse the bank of England? What about our friends the Chinese? They have been hacking anything with a keyboard lately. China has been the source of some very scary cyber acts as of late. Including a 4 month free for all in the IMF’s networks. That could be a nice little message to Obama, “Stop devaluing your currency or we will do it for you!” I’m not saying that this is what is happening, but I’m not saying it isn’t. These are possible scenario’s.
All in all my advise is to tread carefully world. Leaders and followers. Hope for the best, but prepare for the worst. And if the world does crumble, I’m following Ted Nuggent.