Friday, June 26, 2015

Will Tsipras Be Assassinated?

I didn't think so, but he sure is testing the odds:

"Stocks retreated, erasing all of the week’s earlier gains, as negotiations between Greece and its creditors seemed no closer to reaching a resolution. European finance ministers cut short a meeting on Greece’s proposals, citing major policy differences. They plan to meet again Thursday. Prime Minister Alexis Tsipras criticized the IMF as being needlessly picky about reforms Greece has proposed. 

I read that and said "uh-oh," although I'm sure if something does happen it will simply be a case of an unfortunate death due to some flaw in his mode of transport.

Creditors are demanding, among other things, a freeze on pensions, scrapping some proposed taxes and surcharges on business, and a higher sales tax on some goods.

They also want a quart of blood.

Greece needs a deal by Tuesday, when a key debt payment is due. In a worst-case scenario, a default could lead to Greece abandoning the euro.

Ironically, that would be best for the Greek people. Unhook from the mon$tro$ity of globali$t banking. I mean, the SAME GUYS "$AVING" THEM are the SAME GUYS who PROFITED by PUTTING THEM THERE!

Investors also focused on when the Fed might increase its key interest rate, now that the economy is improving. Low rates have helped the bull market for stocks keep running. Expectations of a rate increase rose after a report on Wednesday showed the economy contracted less than previously thought in the first three months of 2015. The Commerce Department now says first-quarter GDP fell 0.2%, not the 0.7% previously estimated."

Their first report actually claimed growth of 0.2%. The liars from government think we forget these things. I will be getting to the U.S. and state economy shortly as well, but for now....

"Greek debt talks go into weekend as default deadline looms" by Derek Gatopoulos Associated Press  June 25, 2015

BRUSSELS — The bitter standoff between Greece and its international creditors was extended into the weekend, days before Athens has to meet a crucial debt deadline that could decide whether it goes bankrupt and is kicked out of the euro currency club.

A key meeting of eurozone finance ministers broke up without agreement on Greece’s rescue package Thursday, intensifying doubts about whether Athens can pay the International Monetary Fund a debt worth $1.8 billion on Tuesday.

An agreement on a drastic Greek tax and austerity reform package is necessary for creditors to unfreeze $8.1 billion in bailout money.

How do you say "you f***ers" in Greek?

‘‘European history is full of disagreements, negotiations, and, at the end, compromises,’’ said Prime Minister Alexis Tsipras of Greece. ‘‘So, after the comprehensive Greek proposals, I am confident that we will reach a compromise.’’

Lower-level negotiations will continue and a new meeting of eurozone finance ministers is tentatively scheduled for Saturday.

Thursday’s eurozone meeting breakup was the latest in a series of negotiating roadblocks, and a major setback since there had been hopes to reach a deal in time for European leaders to approve it at a summit later Thursday.

The blockage happened after leaders from the IMF, the European Central Bank, and the European Commission raised the stakes by putting forward their joint position on the reforms they would accept to offer Greece a financial lifeline. But Greece, objecting to what it saw as outside interference, was still not on board, and wanted to stick to a previous plan it had offered.

Greece’s finance minister, Yanis Varoufakis, said several ministers within the 19-nation eurozone found that Athens was being pushed too hard.

‘‘Interestingly, several colleagues disagreed and criticized not only our text but also the text of the institutions,’’ he said.

That says something there. Even the bankers' political slaves are saying enough is enough. Now off with their heads.


Still scrolling down the Greek street:

"Stocks edged lower as talks over keeping Greece solvent stalled. Health care stocks rose sharply after the Supreme Court upheld the Affordable Care Act’s insurance subsidies. Humana rose 7 percent, HCA Holdings 9 percent, Tenet Healthcare 12 percent, and Cigna 2 percent. 

Oh, what a $urprise! Corporate health stocks went up after the corporate court validated crappy corporate Obummercare. Yaaaaay!

Stocks had been flat to slightly higher the first half of the day, but that momentum was soon lost as worries about Greece turned the market lower.

I've been getting mixed me$$ages all week.

A meeting of eurozone finance ministers broke up Thursday without agreement on Greece’s rescue package, intensifying doubts about whether Athens can make a $1.8 billion debt payment to the IMF that’s due Tuesday. Creditors are insisting on a drastic tax and austerity package before they’ll unfreeze $8.1 billion in bailout money. Greece has a small economy and its debt problems have been long known by investors. But the possibilities of destabilizing the euro and the implications of a country defaulting on its debt have weighed on investors for months ‘‘It’s all coming to a head now,’’ said Ben Mandel, at JPMorgan Multi-Asset Solutions. ‘‘It could cause some volatility next week.’’

The July 4th holiday when no one here will be paying attention!

RelatedPlainridge Park Casino is off to the races

Wall Street just one huge casino and we like to end with links with which we began. Like a full roulette, if you wheel.

It's an unread Globe so far other than the articles about Greece, and that doesn't bode well for it's future perusal. I'm just sick of the agenda-pushing, war-promoting, mind-manipulating pre$$ and its elitist insults. Sorry.

UPDATE: Greece Invokes Nuclear Option: Tsipras Calls For Referendum 

The bankers will rig the vote.

NDUs: Stocks end mostly lower as Greece debt deadline approaches

OMG! Not a word from the Globe today regarding the referendum! 

In fact, if one looks at it closely, the Globe is literally full of shit today.