Interestin​g times..............from Rico

Interesting times indeed. For lazy readers, I did not say fun times...rather the Chinese proverb/curse "interesting times."

Greek deposits are fleeing the Greek banking system at the rate of 100-500 million EUro's a day (for progressives read: HUGE bank run) with their legislative election scheduled for 17 June. Care to 'guess' how that will turn out?

The Spanish bailout lasted all of 2-6 hours before completely flopping, and a second bailout may be needed before details of the first one are even figured-out.

By Tuesday the moderately clever folks had noticed that Italy was a larger version of Greece, Italian bank runs seem to have started in the wake of one large Bank declaring a 'banking holiday' (read: shutting down without notice to its customers), while the not-overly-clever EUrocrats kneejerk and talk about limiting the movement of money and people, plus restricting ATM withdrawals when they SHOULD be worried about France being in the bull's eye next (like Credit Suisse clearly is).

Soros (a.k.a. "that rotten Hungarian") is giving the EUro three months to fail, but two months may be a better bet given the rapid accelleration of events.

Consider that: Portugal cannot rescue Greece; Spain cannot rescue Portugal; Italy cannot rescue Spain; France cannot rescue Italy.
- While Germany could rescue France...will they? Even on their terms?

But it's too soon to crack that celebratory Budweiser open, Sparky!
- Sure, the Dollar seems to be the best-looking horse in the fiat currency glue factory corral, yet America's fundamentals are worse than those of Greece and the same 40# economic brains running the ECB and other large Central Banks are also running the Fed (when not reading Paul Krugman's puerile scribblings in the NYT).

Conclusion? We're ALL freakin' doomed!