Afternoon Delight 02/06/12 - Grinding Teeth

You are tired of hearing about it and I'm tried of writing about it. The soap opera/tragicomedy that is Greece and the default drama has run is course. The plot has grown tired and viewership is waning. At least we know at this time the series ends on March 20th. Let's just hope it does not have a 4th season in production. The show's expenses are not justified.

Market participants know exactly what's going on. They are no longer fooled and understand the fuel of the markets is nothing more than exponentially expanding debt that will eventually destroy everything. The public has no clue as the "recovery" is a well disguised debt ridden repeat of 2006 illusion designed to get everyone to spend again. You have heard me refer to this probably hundreds of times now.

Afternoon Delight 11/07/11

It is only a matter of time. Can the bears remain solvent?

Worst Case Scenario - 

I was hoping they would be putting a worst case scenario together - looks like they got one. OK, now if they have gone to these lengths what does that tell you? And now I ask, do you have a worst case scenario plan in place?

"2) the German taxpayer became the Eurozone's "de facto bailout provider."  Mayer proposes a "Chapter 11 for Eurozone countries," which would place troubled members under economic supervision until they put their house in order." Wikileaks Exposes German Preparations For "A Eurozone Chapter 11" | ZeroHedge

Meanwhile "Global Bailout Fallback Plan B" China Is Pumping 1 Trillion RMB Into Its Banks | ZeroHedge

"As the European debt crisis edges closer to a break up of the euro zone, financial regulators may be reaching for emergency manuals that have gathered little dust since the last crisis." Analysis: U.S. bailout manuals handy if Europe crisis widens | Reuters