Uncle Sol Starting a thought farm

Greek Tragedy

The Greek government is now making noise about it being the responsibility of the European Union to bail them out of their current mess. As Karl Denninger points out, there is no money left.

Greece is now whining that their "austerity" should bring gifts - from Germany:

“We have fulfilled to the utmost all that we must from our side; now it’s Europe’s turn,” Papandreou told his ministers, according to an e-mailed transcript. “It is a historic moment for the European Union.”

No it's not.

Honest accounting is its own reward. So is fiscal prudence.

You're owed nothing Greece.

More importantly, there's no money. Not just there - here too. Witness the layoff/hirebacks in California and New Jersey's new governor - the latter who told the truth for the first time by a state politician in 30 years.

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