Greece

     We read that bank offices are now closed throughout Greece, but bankers are graciously letting customers stand in line all day to withdraw up to 60 Euros every 24 hours from ATM machines that, as one would expect, add to your banking experience by periodically running out of money.  Reliable sources hold that the largest institutions are insolvent, and Andreas Andreadis, President of the Greek Tourism Confederation, just opined that tourists "obviously" need to bring cash with them if vacationing there.  Such may not be much of an issue, however, as hotel bookings are reported to have dropped to zero pretty much everywhere.

     Minutes ago, we were informed that plans are afoot to "bail-in" the Greek banking system, that is, tap bank deposits to cover the losses currently being improperly carried on industry books as assets under the kind of dubious terms these disreputable charlatans use to describe their worthless paper, such as "questionable" or "problem" or "non-current" loans, whenever the scoundrels want to avoid reporting inconvenient write-downs.  If the enormity of that problem turns out to be as high as 40% of the portfolios, as one estimate has it, depositors could be facing haircuts in the order of 15-25%.

     A bail-in like that would turn accounts of E100,000 into accounts of something like E75,000, with the difference lost and gone forever, akin to what went down in Cyprus a while back.

     Be forewarned.  This is what happens when the kind of wastrels we see in the Barry Soetoro White House and his commie-minded buddies on the Hill run your country into the ground with their wild-spending ways.
     

The Curious Case of P. R. Bonds

     Most debtors unable to make loan payments run for protection under one bankruptcy provision or another, usually meaning their creditors and stockholders get ripped off while one way or another they keep their jobs.  Thing is, it's always you and I who take these hits.  As shareholders, bondholders, or depositors in financial institutions lending our hard-earned money to these rapscallions, nobody protects us.  Recent market meltdowns have shown how much you truly are at risk simply by keeping a savings account basically anywhere these days.

     Should a nation with its own sovereign currency run into fiscal trouble, leaders can paper over the mess by simply printing more money, thereby flooding the land - and Government coffers - with more than enough inflation-driven cash to cover the old debt.  Think repaying our own 1960's Great Society deficit spending with 1985 dollars.  Piece of cake.

     As pretty near everybody in the civilized world and Iceland knows by now, Greece can't print squat because it got talked into using this goofy multinational Euro, controlled by Frenchmen and Germans (and a few cronies who can stand being in the same room with Frenchmen and Germans) instead of their foresaken Drachma.

     Which gets us to P. R. bonds.  As an unincorporated territory, whatever that is, we're told that the Commonwealth of Puerto Rico has no bankruptcy mechanism, meaning we could finally get our money back from somebody missing payments which the Commonwealth is about to do on its bonds.  Even if it's only unincorporated territories, of which there are just twelve, that's somebody.  Screw with us, Midway Atoll, and we will rip every last dollar out of your conniving hands.  Or American Samoa or Kingman Reef or Wake Island.  We could lend Guam all the money the Guamians want and know we would collect it all if anybody there tried to stiff us.

     Thing is, Puerto Rico says it's broke.  That's okay.  If they're really broke, pay us in rum.  Nobody at the Post cares if we get paid in rum.  Or baseball players.  Send us whatever you've got, Puerto Rico. We'll buy Puerto Rican bonds if you pay them off in Don Q and Bacardi.  Or a lefty pitching prospect with some serious heat.

     It's about time somebody causing the losses took them instead of us.

     Okay, enough fantasizing.  We read that Puerto Rico has already asked Congress for bankruptcy legislation and just hired a guy who helped Detroit with theirs.

     We don't have to tell you how this is really going to end for us.  Well, those of us holding Puerto Rican bonds anyway.




     

     

An Iceburg Named Globalization

     What should be common understanding, isn't, and that's because of the prevailing trade winds pushing our media accounts far abaft of God's Truth.

     The Ship of State has slammed into a submerged socioeconomic iceburg.

     Her shipwrecked hull lies angled-down, cargo awash belowdecks, holds flooding fast.  Navigated into harm's way by the Left's brilliantly successful attack on the nation's White middle class, first by taking their jobs away, and then with wealth confiscation, as accomplished through a totalitarian central bank 1) seizure of the free market in treasury bonds, emasculating that source of interest income and principal safety in retirement portfolios across the nation, and 2) heavy-handed, corporate earnings-crushing refusal to abate the dollar strength that has cut-blocked actual growth into what comes off as stagnation on the books of major internationals reporting to us in U.S. currency.

   As all this tucks in so snugly with the destructionist policies of Barry Soetoro, which appears to be the real name of the Muslim-reared, Indonesian passport carrying, foreign scholarship student illegally - and inexplicably - still occupying the White House as a shadow Communist hiding his true political affiliation in plain sight, any chance of thwarting the putsch or it's progress in obliterating life as we know it from the face of the American landscape, appears slim, at best, at this time.

     Staff apologizes for our delay in pointing you toward Seeking Alpha and one of the more newsworthy pieces MacDougal has stumbled upon in quite a while:

http://seekingalpha.com/article/3202616-the-failure-of-globalization?ifp=0

News Anchor Lies, Gets Demoted to News Anchor

     If one starts out assuming that everything broadcast into our homes by the "mainstream" media is fabricated to conform to a commie-minded political slant, then you get to wondering why telling made-up news on one's own would be a big deal in the truthless world of TV journalism.  Thing is, network suits would have to prefer that talking heads let underlings hand on-air personalities scripted fibs, so managers can exercise control over the scripts, and that has to be why NBC, or whoever they are now, came up with some kind of punishment for Brian Williams, who's reported to have kept his bosses out of the made-up news loop on a number of occasions.  How many times is unclear because the pack of them are probably lying about it.

     Whatever, the announcement came across the net recently (we don't watch TV anymore) that the news anchor has been demoted to news anchor, which seems fitting to your MacDougal Post staff.  As it strikes us that nothing reported out of Washington since Blatant Umama took office could possibly be true, it's where the scallywag belongs.

Run, Donald, Run

     Donald Trump has announced his Presidential candidacy once again.  That's President of the United States for those of you who are still struggling with the concept.  Anyway, we're intrigued.  Who better to see the country through our impending National Bankruptcy than The Donald?  He'd have no problem stiffing anyone and everyone who holds U.S. debt, and walk away unabashedly, like that's what you're supposed to do, and who knows?  Maybe it is.  Politicians in other countries have been pulling it off for years, Donald, the real estate maggot, at least four times according to the one source we scoped out.

     If Trump's campaign grows enlightened enough to take this looming hyperinflation threat of ours off the table with The Donald's Chapter 11 skills, coupled with a vow to 1) stop paying ethnics welfare blackmail to keep that race from rioting in the streets and 2) replace the dole with broom-ready jobs, The MacDougal Post may well support this seasoned bankrupt's run. 

Attack on Your Wealth Management Account

     In an editorial published last February, investors.com, powered by Investor's Business Daily, hit the eco-nail on the head.  As our valued subscribers well know, climate alarmists aren't focused on planetary environmental matters at all.  Obliterating capitalism from the face of the Earth is what they're really after.

     Keep your guard up.  It won't hurt to keep checking out pieces like this now and again;  first and foremost, you'll be broke if they win: 

http://news.investors.com/ibd-editorials/021015-738779-climate-change-scare-tool-to-destroy-capitalism.htm

Consternation Unraveled

     Of late, there has been much consternation in Guruland over economic growth.  Seers and sages can't seem to deal with America's inability to recover from the financial apocalypse foisted upon the civilized world and Iceland in 2008; the calculus of our upward trajectory in GDP, ranging betwixt anemic and chimerical, is commonly touched upon as inexplicable, as if there's some mystery here....

Where have all the growth engines gone?
Long time passing
Where have all the growth engines gone?
Long time ago

     As our valued subscribers understand, there is no mystery to any of this.  None.  With its seizure of the US Treasury Bond market to keep wild-spending politicians in Washington from facing free-market wrath over their profligate ways, our Central Bank effectively pulled off a silent revolution, placing the nation under Communist control.  The name change from Democratic Party to Commie Party wasn't announced by their media propaganda machine, so everybody of a pinko bent, all of academia for starters, can now posture themselves as having missed it, and are doing so.

    People, just remember what shopping was reported to be like under central control back in the old USSR:  way, way too much of this on the shelves, not enough of that, and none of the other.  Mostly none of the other.  That's the road central bankers have set us down.  The money being spent by Washington wastrels goes every which way but goosed, and has completely drained the economy of its oomph.

     Compounding the misdoings, Government stats have become fantastic works of fiction across the entire bolshevik bureaucracy, most egregiously on jobs, and nobody can grasp any#%^&*$*thing that remotely smacks of truth using them.

     Bill Clinton sent tasks performed by American humans over to be performed ostensibly by Asian humans, and from the moment they came back as tasks performed by great big, shiny, non-human robots, nobody has known how to tell us what's really going on in this formerly great nation of humans.

     With that in mind, you could say that the current consternation in Guruland is just more of the same.