The Bailout of Greece and the End of the Euro
Great piece by Philipp Bagus detailing what's been going on in Greece and the EU.
"What is the future of the euro? As we have seen, the inherent incentives
in the eurozone encourage destruction of the currency because deficit costs are externalized. Therefore, there are three main possibilities.
A. The Stability and Growth Pact is finally enforced. Unfortunately, strong political resistance makes this possibility unlikely.
B. The more conservative member states refuse to continue bailing out
the more profligate ones. The economically stronger states force the weaker ones to enter bankruptcy and to leave the monetary union.
C. Countries continue to increase their deficits, attempting to externalize
the costs. They yield to the incentives and participate in a spending race,
leading to a hyperinflation; and the euro moves closer to collapse.
If I had any money, I'd short the Euro like I was George Soros. In September 1992, he shorted the British Pound with $10 BILLION and made a tidy profit of almost $2 BILLION when he crushed the Bank of England. Not to shabby for a damn commie rat bastard.