So the president is Greek?

So last week Greece almost defaulted on its loans again -- debt equals 120% or so of that country's gross annual economic output -- and even New York Stock Exchange traders got nervous. I think it's not so much that the NYSE owns a big chunk of Greek bonds or whatever, but if Greece goes down, it will have unhappy impacts on nations like Germany and France and others in the European Union, who have been propping Greece up economically. And the NYSE does hold a lot of debt and investment in EU enterprises.

So the EU struck this deal to bail out Greece. Greek banks have to accept 50% back on their loans, more social benefits will be cut from Greek life, and Germany and the others will kick in more funds to keep Greece alive for a few more months, at least until the next due date on their loan payments. Apparently the EU plans to borrow from China. Everyone cheered. The crisi is solved. 

Oh yeah? Well, the Greeks might have something to say about that. The Greek head of state has decided to put the whole measure to a public referendum to secure some public support for it. Good idea for him, since Greeks are damn sick and tired of having other nations threaten to stop paying their bills. At the prospect of losing their social welfare benefits, the Greeks have been rioting non-stop. Rioting has become sort of like a national sport in Greece. I wouldn't be surprised if they suggested it as an new event in the next Olympics.

See, in Greece, if you're a hair dresser you can retire at age 50 with a government pension because you're involved in "hazardous" work.

My stars. how then do they classify those dancers who break the dishes? Talk about life-threatenting work.

So anyway, the Greeks seem to be laboring under the delusion that they have options.

They don't. Except to go down in flames.

Not that the USA is in much better shape. US debt now is 100% of our gross annual economic output, and rising fast due to interest demands. If we drop another point on the S&P Index -- which is more than likely -- interest on the debt will rise.

And the Comrade is out on his little campaign tours, promising to pay everyone's student loans, pay their mortgages, pay for their health care and prescriptions, etc. etc. Now, in a truly horrifying development, the Comrade is, as we speak, on a jet bound for France to discuss the impending collapse of the EU.

No doubt the Comrade will volunteer the US to provide some kind of economic aid to prop them up. Which the Comrade willl have to borrow from the Chinese. Or, the Comrade could just let the EU borrow directly from the Chinese, but I guess that's too simple and straightforward. I mean, look at it this way -- the Comrade has found another means of saddling us with even more crippling debt to more quickly anihilate the US economy and free enterprise.

I think the dispute about the Comrade being born outside the USA just may be true. I suspect deep in his cold little heart the Comrade's Greek.

Enough for now.

Save the Republic.