Nasty PnF charts. Egregious Greeks. Perverse politicians…

Posted on May 12, 2012 by in Letters

You may not like what the French do, but they do it with such elan (and they pronounce it so beautifully) that you have to enjoy watching it.  And it used to be a hoot in the old days to watch the Greeks throw dishes--  if not watching the anarchists breaking bank windows. Being Keynesians we have watched with one eyebrow arched as the Germans have administered large doses of castor oil to those fun loving and sun loving Latin-Europeans.  Clearly they learned nothing from Keynes, and nothing from the Great Depression.  You can't shrink your way out of a recession.  American investors hearing the Sirens have been throwing themselves on the rocks.  Of course this is all a tempest over a golden fleece.  But the markets, being moderately overbought seized it as a chance to play musical chairs, and big traders seized it as an opportunity to create and profit from some volatility.

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