Greetings my friends. After a prolonged absence due to certain health reasons, I am back with another update. It is painfully apparent that news reports seem to be hailing Tsipras in Greece as a true statesman (as Der Spiegel seems to claim about him) and other stuff that seem to show that this government is on its way to a working solution… alas, it couldn’t be further from the truth! The measures they are taking are mostly theoretical as they have a huge problem being paid from ridiculous taxes they conjured up. Adding more to insult, they come up with tax measures let’s say starting this month, but collecting BACK since the beginning of the year… obviously these guys have discovered Time Machine economics in order to squeeze the last meagre sums of money from the pockets of the people (or wherever they stash them, as long as they are out of the banks). Seriously, it’s would be a joke during better times, but it’s causing an outrage. The news here are full with articles about putting measures up to gauge people’s reactions, then retracting them and having to find equivalents, and so on… the government seem to be clueless as to having to stick to what they promised and the EC knows about it. The problem is that their political opponents seem just as much clueless as they are, unless of course we bring to mind the parties that were steeped in corruption and actually are responsible for bringing the country into that mess. It’s deplorable but it seems that in 2016, there’s going to be hell to pay (locally through unrest, if not coinciding with some global war flaring in the Middle East, the Arctic and the South China Sea).
Some numbers: Since the beginning of the crisis in Greece in 2009, more than 108 billion euro seem to have vanished from the country to destinations abroad or who knows where. Out of that sum, 42 billion have vanished in the last 12 months. The total available money in Greek economy in the fall of 2009 was 262 billion. Now it’s only 153 billion. From these 153 billion, the actual hard cash circulating about in the market are 26.9 billion only.
These figures have taken into account the M1, M2, and M3 markers that incorporate current circulating coin, cash flow, sum of savings and current accounts, Repos and other financial data.
As you can see, in Greece it’s very likely that the S will HTF fairly soon (unless Santa Claus delivers bags of money through the chimney alongside Christmas presents).