So Many Hoaxes; So Little Time
Mark J. Grant
The hoaxes remain and grow more cumbersome and obvious every day – and yet, the headline-reading machines and self-referentially-biased managers of stocks justify just one more BTFD episode. To wit, Mark Grant discusses the Greek buyback debacle with its political (and entirely not economic) mandate, noting “Mr. Draghi knows the truth and Ms. Lagarde knows the truth and their credibility is whacked once again;” Berlusconi’s potential return in Italy and the hoax of any pretense of an entente cordiale re-emerging between north and south flies out the window; the ‘tax the rich’ hoax as a solution for years of profligate spending and the ‘then vs us’ meme that is increasingly spewed forth from DC; and the ultimate hoax of Bernanke’s money printing morasse. Happy Monday.