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Thursday, February 9, 2012
Greece Agrees, Everyone else does too
In a shocking financial development today Greece has agreed to say whatever it is they need to say so that everyone can pretend they're not in default.
Italy, Spain, Portugal, and Ireland also pledged to say whatever it is they will need to say whenever they need to say it so that everyone can pretend they're not in default.
The ECB has pledged to print as much money as needed to bail out the European Banks, while simultaneously pretending to be against all such bailouts.
Here in the US everyone has pledged to pretend that whatever numbers regarding anything released by anyone will show that things are not nearly as bad as everyone else thinks, and that things are in fact improving. Everyone will add that while it is true the improvement is from very low levels, it is improvement nonetheless. Everyone has agreed to conclude that all financial instruments should power higher on the back of this better than expected news.
Over at our Central Bank, Ben Bernanke has agreed to pretend that while the improvement is encouraging, the economy has far to go so interest rates must be kept at zero forever. And while he agrees to pretend to support an end to Too Big to Fail, he will continue to shovel boatloads of money to any large bank that needs it.
At the Treasury Tim Geithner will continue to pretend that this zero interest rate policy in no way effects our Strong Dollar Policy, which is always and forever in the our national interest.
On the Political Front, all politicians everywhere will pretend to assert their commitment to simultaneously support a strong dollar, a strong military, a strong banking system, and aggressive deficit reduction.
Everyone everywhere has agreed to pretend that supporting all these things simultaneously can somehow make some sort of sense.
Except Ron Paul - who agrees to point out that all of the above is absurd and impossible.
Everyone else pledges to laugh at silly senile old Ron Paul when he says such crazy things.
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