Issue #2 The New "Butterfly Effect"

Last week, France and Germany agreed to bailout terms of the Greek economy much to the joy of Wall Street. Stocks jumped and high fives were had. The day was won as French and German financial barracudas could breathe sighs of relief; the hundreds of millions of dollars they had spent gambling on Greek debt was to be saved, despite a 50% loss in returns.

But how the world can change in a matter of days. November 1st was met with a considerable amount of doubt in the Western world. And I’m not talking about female apprehension to a month of scraggly dusters. The stock market plummeted this morning over the possibility of a Greek referendum, a vote of no confidence in the legitimacy of the Greek government, once again threatening the significant capital of French and German investors in Greek banks.

This is the problem of speculation and expectation. We have grown so accustomed to the manner in which we pursue and secure our financial interests. Since the 1970s, the manufacturing sector has plummeted in its share of national GDP, and speculation has become the order of the day since the 1990s. This is why a flutter from Athens can reach the rooms of Wall Street in a matter of hours.

Fundamentally, we are all in this together, a reality that I think we are all worried about; thousands gather around the world in an effort to bring about change to a system that not only exploits us, but is inherently irresponsible and borderline unethical.

The scary thing about the Euro crisis is the fact that we are talking about sovereign nations falling, not just banks and financial institutions; we are talking about a complete degradation of a nation and the people it is charged with protecting and ensuring a decent livelihood. And Greece is not alone. Italy, Spain and Ireland are on the edge of a knife. 

So where does the buck stop? More importantly, can it? And if nations do collapse, rest assured, Athens, Rome or Madrid will be sending typhoons our way, not just flutters from their dying wings. 

M