Monday, October 3, 2011


Ha!  Wonderful!  That's what Uncle Jon used to bark when discovering that more bad fortune had been added to a previous bad fortune.  He said that a lot to the doctors during that last year; only the hospital chaplain laughed with him though.

I imagine that would have been his reaction to reading the latest article by Pamela Sampson regarding the domino effect caused by the future failure of the Greek market to meet their deficit reduction target.  Hong Kong-based analyst Francis Lun was quoted describing how everyone (except China) is failing:

"I think Europe really could have done it better. They should have come out much earlier and said they are going to stand by Greece no matter what.  Their procrastination really hurt market sentiment," and, "America spent the money incorrectly.  To save the Wall Street fat cats, people are much poorer than before. The economic malaise is really caused by unemployment and unemployment is the result of a lack of personal consumption. When you don't have personal consumption, then your economy is going to fall into a tailspin."

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