"There's only one problem with PJ Buchanan and that is he never names the J."
You would not say that if you read his article. Read it, then get back to me.
WSJ: "Eurozone Recovery Means Greece Has Less Leverage Than It Thinks
Despite Greece’s problems, eurozone recovery is strengthening"
Updated March 1, 2015 6:44 p.m. ET
By SIMON NIXON
"Yet focusing on Greece only tells part of the story. Equally important to the
long-term fate of the currency bloc is growing evidence that the recovery is
strengthening, thanks to a weaker currency, which has fallen 19% against the
dollar since the start of 2014; a falling oil price, which is likely to add up to 1.5
percentage points to the level of output this year, according to Huw Pill, chief
European economist at Goldman Sachs ; and the lower borrowing rates and boost
to confidence from the European Central Bank’s new government-bond buying
program due to start this week."
Stronger Eurozone means much less Greek leverage in negotiations. NBG down 11% in Athens.
Rumsfeld was the ultimate upper class twit that did much damage in Iraq. (He reminded me of that other upper class twit that did much damage in Vietnam -- McNamara.)
The neocons (read J's) that controlled Bush's brain, sucked us into Iraq to fight Israel's wars for them. PJ Buchanan warned us about that in March 2003 in The American Conservative:
“Whose War: A Neoconservative Clique Seeks to Ensnare Our Country in a Series of Wars That Are Not in America’s Interest.”
Well, they’re listening to PJB now.
That's what happens after 400 years of Ottoman rule of Greece whereby Turkish Asiatic DNA replaced classical Greek DNA (probably happened much earlier also). Euro lib loons will create another disaster if they let Turkey into the EU, which will allow Asiatics to pour into EU (OMG, THAT IS SOOOO RACIST!)
Will repost later
YH just censored my post "Time Mag, Joel Stein says 'Maybe we [J's] are doing something wrong"
It was written by a J in Time Mag, not exactly an anti-Semitic rag.
It's was up for a day, did you read it?
You're a victim, Maria, a victim of evildoers like your former students and their parents, fellow teachers, and administrators, plus a victim of this board, plus a victim of your ex-husband, plus a victim some of your nasty relatives. Most people would have cracked by now, but you haven't b/c of your superior character, intelligence, patience, and closeness to Jesus, all of which you have told us about many times and in great detail. I'm going to say 5 Our Fathers and 5 Hail Mary's to Jesus to help you withstand the onslaught of the evil doers. Yours in Christ, Buchanan!
I posted excerpts from the Time Mag article written by Joel Stein on antiSemitism in a separate post. See:
"Time Mag, Joel Stein says 'Maybe we [J's] are doing something wrong"
I included the article URL so you get the entire article.
Joster, thanks for the info that you did not take dn my post. Probably your buddy the Church Lady (aren't you embarrassed being her buddy?).
What I find ludicrous is J's always claim victim status even when they are the wealthiest group in the nation.
As far as historical victim status, a J columnist for Time Mag wrote about the time of the Mel Gibson and J ruckus that if we J's have been hated for thousands of years, maybe we're doing something wrong. I'll supply the article source later.
I'll also supply later a list of J activities that caused backlashes against them in the past and present. (I copied this post so if it gets deleted, I'll just repost it later.)
Joster must have a pal in YH censors b/c I needled him about being J but not smart and he got my post taken down in 5 minutes. No other group has official victim status that strong.
Not to worry!. Greece won't implement, but EU will send the cash anyway! EU has too much left-wing ideology and cash invested in Greece to back out now.
Excerpts: WSJ, Feb. 24, 2015 10:30 a.m. ET
“BRUSSELS—Eurozone finance ministers on Tuesday approved a four-month extension to Greece’s bailout, ALTHOUGH ATHENS STILL FACES SEVERAL HURDLES BEFORE IT CAN RECEIVE NEW RESCUE CASH.
Ministers approved the extension to the #$%$240 billion ($273 billion) bailout, which will now run until the end of June rather than expiring at the end of February.
HOWEVER, GREECE STILL FACES CHALLENGES GETTING ITS HANDS ON THE RESCUE CASH, with the IMF saying the list of overhaul measures is “generally not that specific.” Similar concerns were raised by the European Central Bank, which has been overseeing Greece’s bailout along with the IMF and the European Commission.
. . . four months might well be enough for Greece to hammer out a longer-term deal with its creditors.
EUROZONE FINANCE MINISTERS HAVE SAID THAT NO MONEY WOULD BE TRANSFERRED TO GREECE UNTIL THE PROMISED MEASURES HAVE ACTUALLY BEEN IMPLEMENTED. Following their call, ministers also said that the Greek proposals needed to be fleshed out.
The bailout extension still needs to be voted on by parliaments in a handful of eurozone countries—including Germany and Finland—but approval there is expected.”
“Eurozone finance ministers have said that no money would be transferred to Greece until the promised measures have actually been implemented.”
According to the WSJ, Greece debt payments due by March 19 total E6.1bn. So they have till March 19 to implement their austerity proposals.
I meant it was a screaming short term trade, not a long term investment. That assumes you believed it was not going to be kicked out of the EU.
A) PPS raises to 100% of TBV
E2.15 / E0.835 = 2.57 ratio or 157% gain
B) PPS rises to only 75% of TBV
E1.61 / E0.835 = 1.93 ratio or 93% gain
Actual results from Jan 28 to Feb 20.
ETE.AT: E1.44 / E0.83 = 1.73 ratio or 73% gain
NBG: $1.96 / $1.03 = 1.90 ratio or 90% gain.
The above was based on calculations, not mystical chart readings and navel gazing, the usual bull methods on this board.
"now after great finale, will be deliberately pushed much more than NGB worth at present."
Who or what is going to "push" NBG EPS or PPS? Could you translate that into English?
GREECE DELAYS AWAITED REFORMS UNTIL TUESDAY
WSJ, Feb. 23, 2015 2:03 p.m. ET
ATHENS—Greece’s government pushed back until early Tuesday a list of awaited reforms that its eurozone partners had demanded in exchange for continuing to fund the country for another few months.
Greek officials said late Monday that the list would be sent the following morning, past the original midnight deadline. Eurozone finance ministers are due to review the proposed reforms during a conference call Tuesday afternoon.
Although the delay isn’t seen as crippling Athens’s bid to seek a four-month extension of its #$%$240 billion ($273 billion) bailout, it does show that Greece’s new Syriza-led government—in power just four weeks—is struggling to address the demands of its creditors.
You're missing the point that even if Greece stays in the EU, can it really recover in a few years, or will it continue to stagger on under the load of reforms? If so, NBG will also stagger on w/ no big gains in earnings or pps above Tangible Book Value ($2.56 for ADR).
GDP is down 25%, unemployment is ~25%, debt to GDP is 175%, NBG NPL’s are 29%. Why the hell did the EU lend money to keep Greece in the EU? Because the EU bureaucrats can't admit the EU is a failed left-wing experiment that is doomed (although it may stagger on for years).
"If you read only 100 books [on J's] , you have done a lousy job" Ridiculous statement. I thought J's were supposed to be smart. You must be the one the family keeps in the attic.
J's define as anti-Semites:
1) Anyone that exposes their radical left-wing agenda like swamping white countries w/ massive Third World immigration (but not Israel, of course).
2) Anyone that exposes their radical right-wing Zionist agenda of invading Palestine to ethnic cleanse it of Palestinians.
Again, for those who want the best info on J's radical agenda, go to J*wwatchDOOTcom. The turmoil in the Middle East was started in 1898 w/ the start of the Zionist movement by Theodor Herzl. But we can't talk about that in polite society, can we?
WSJ, Simon Nixon, Updated Feb. 22, 2015 7:50 p.m. ET
“Greece’s membership in the eurozone looked less precarious by the end of last week than it did at the beginning—but it still hangs in the balance.
FACED WITH ESCALATING BANK RUNS AND RAPIDLY DETERIORATING PUBLIC FINANCES, Athens finally bowed to the inevitable and did what it had vowed not to do: request an extension to the country’s current bailout program. In doing so, the new Greek government has averted certain economic collapse and bought itself time to break yet another promise as it tries to secure a new bailout.
Athens has until Monday evening to submit its overhauls.
Athens can’t draw on any loans until overhauls are delivered, which isn’t envisaged before April’s end.
Meanwhile, Athens could run out of money as soon as next month.
Athens and the Eurozone will also need to start negotiations on a new bailout. This needs to be in place by the end of June to enable Greece to meet large debt repayments due in July and August.
The task is complicated by the damage inflicted by the events of the past few months. The market access that the government, banks and corporate sector had started to regain last year is now lost and the banking system weakened by recent deposit flight.
So far, this remains an open question. Mr. Tsipras has capitulated on many issues in the past week as he has met his date with political and economic reality. But he will have to capitulate on plenty more if he is serious about putting Greece’s place in the Eurozone once again beyond doubt.”
If you think you understand the details of what’s going on, you don’t. The roller coaster ride will continue. It is impossible to calc Fair Value or P/E, so the only useful metric is Tangible Book Value, which I posted Jan 28.