The bleating starts - by Richard... Tuesday, June 21, 2011

The bleating starts - by Richard... Tuesday, June 21, 2011

Myrtle got in on the act in The Daily Mail today, carving up the extruded verbal material into bite-sized chunks, to earn a bob or two.

Some of the background he sketches out is fair enough, but when the great sage starts his analysis, superficiality and ignorance come to the fore. Thus, does he portentously bleat: To those who believe that Greece pulling out of the eurozone would trigger a calamitous domino effect in Ireland, Portugal and even Spain, I would say: don't believe all the talk about contagion. 

He then solemnly informs us that Greece accounts for only 1.9 percent of the EU's economy and, therefore, "its troubles are containable". By sucj means does he display a lack of grasp of the basics that is really quite staggering. Has the man-goat never heard of dominoes? Is he unaware of what is happening in Italy?

The trouble is that, now the crisis moves to its end game, and the British MSM have finally woken up to the fact that something is happening in that strange, far-off distant place called "Europe", we are going to get a lot of this garbage, as the clever-dicks move in and stake their claims.

With a factoid or two of their own, a sheaf full of press agency reports and the latest briefing notes from the Uncle Toms at Open Europe, they are anybody's for a few quid, spewing out the EVM like there was no tomorrow.

Over however long it takes for the collapse to occur, no matter how it is disguised, we are going to have to suffer a massively high noise level from the MSM, when sense will be drowned by the prattle of the hired clever-dicks.

More than ever, therefore, it is important to stick to the basics, the single most important fact of which is that Greece is going to fail. And when the first domino goes, the rest will follow. Where it will end we do not know, but we are in for a serious shit-storm. No amount of Myrtle-bleat is going to make it any different - the only thing we don't know is the timescale.

COMMENT THREAD

Share

Print ready

Greece will fail - by Richard...

"Greece will not be allowed to fail", says the Failygraph, inviting the comment: "What a ludicrous and. ill-informed editorial. This is what happens when AE-P (Ambrose Evans Pritchard) is not around". And there is no dispute that the commenter is right.

But then I have it on very good authority that the bubble-view in the Failygraph office is that the Greek issue is a minor affair and will soon be sorted. Here you have it leaking out into the public domain, offering the idiot sentiment that there is no real alternative to shoring up Greece. We are told that its economy must then be stabilised before serious thought can be given to the long-term restructuring of the single currency, which must now surely be unavoidable.

There is some consolation for this country in that we will not be expected to contribute to this latest rescue mission, other than through our subscription to the International Monetary Fund, we are then told, by a paper that does not seem to understand that our IMF contributions are running to tens of billions. 

The big questions now, says the Failygraph are whether the Greek people will swallow their medicine and, even more pertinently, whether long-suffering German taxpayers will continue to stump up billions for their prodigal eurozone partner.

There is so much wrong with this piece that one just needs to highlight it. It does not need fisking – the ludicrous assertions are self-evidently so. That is what happens when you convert a newspaper into part of the entertainment industry.

The fact is though that Greece is beyond saving. The "colleagues" will keep trying, right up to the end, alongside the IMF. But they will fail. If we had a grown-up newspaper, it would tell us that, and then write an intelligent editorial, perhaps telling us what might then be the consequences.

Even the BBC is doing a better job (above), telling us that "some very serious thinkers are starting to think the unthinkable". But even that is "bubble speak". What is about to happen was always going to happen - the really "serious thinkers" were on to it years ago.

It was predictable and predicted. The "colleagues" fudged the euro launch, they fudged the figures to get Greece on board, and now we are all going to pay the price. As yet, there is no one on this planet who can tell us with any confidence what that might be. The only certainly is that Greece is going to fail - and it is going to take the euro with it.

COMMENT THREAD