Thursday, June 25, 2015

When group think goes mad.

I'm in a fairly stabby mood today because a girl I know told me yesterday she loves her Obamacare because she doesn't have to comparison shop. Think about that for a moment. There is no need to keep costs down, because everyone deserves a Mercedes don't ya know. It's medical nirvana!

So.... when I read this article today about how a Greek default will barely affect the US - I thought my head might spin off.

"Negotiations between Greece and its creditors are coming down to the wire.

European stocks markets have reacted uneasy at best to this news. Those in the US, however, probably shouldn't worry.

"The direct effects on the US are minimal," said Paul Mortimer-Lee, chief economist at BNP Paribas, in a meeting attended by Business Insider on Thursday.

Mortimer-Lee noted that exports from the US to Greece were less than a billion dollars of the total $2.25 trillion outflow, a miniscule amount. Additionally, exports only make up one-seventh of US GDP."

The threat is not from a hit to exports! The threat of a Greek default is it will immediately make the dollar stronger because other Eurozone currencies will be worth less. They have less purchasing power. Our companies then make less money. We are an export country. Aren't we?

I had to go over and see what other articles this jackass Bob Bryan had written. I guess he's an "intern" at BI with a degree in Journalism and PoliSci. No foolies. Don't worry yall. Cause that guy knows this economics. I guess. If Greece were to default I hope everyone sends him an email about what a fucking tard he is.

I just can't believe I live in a world where .4% growth is heralded as a victory after the ECB printed a TRILLION EUROS. This is complete insanity. I'm sure a little Greek default won't do anything to their already anemic growth. And of course, we shouldn't worry about that spilling over to the US apparently.

But hey, my girl does love her Obamacare. So there's there.

No comments: