watch the arrogance and unmitigated disrespect hugh hendry has for joe stiglitz in this vid i found by way of zero hedge
joe tries to make the point that the greek debt is manageable given austerity and support from france and germany
hugh chuckles and exudes disdain for joe and his position, claiming there is no way for greece to finance its short term debt which currently costs around 7% and that , (insinuates) they should just give it up
but then the moderator makes the observation that hugh hendry's hedge fund has placed bets against the euro and the greeks and stands to make a lot of money if the french - german rescue fails
reminds me of lehman brothers and all the financial traders who stood to gain big as lehman went down so there was huge CDS and naked short positions... and the reving up of the "death by a thousand cuts" rumor mill
as much as we all hate profligate debtors...us being the followers of that great american inventor and philosopher, franklin...
before we revel in this "greek tragedy"...the collapse of the euro. or the collapse of the dollar.... we would do well to remember these cataclysmic events will probably bring the barbarians to your gate...think well on it
YouTube - Euro currency crumbling? part2 (09Feb10)
oh yes and hugh hendry seems to predict (insinuation) that the us will default on its debt
i bet not...the printing presses will roll, but outright default never
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