This waiting really is getting tedious. TMM are now seriously wondering if European policy is based on Zeno's Paradox of Achilles and the Tortoise, the Tortoise being the Eurosummits and Achilles the markets. The time scales are now getting pretty compressed. We wait for the inevitable "reductio ad absurdum" to play out. In the meantime the pathos of the current situation has TMM wondering how history may recount today's European turmoils. Would Alfred, Lord Tennyson have immortalised it thus?
The Charge of the Euro Brigade.
Half a year, half a year ,
Half a year onward,
All in the valley of Debt
Rode the unfunded
'Forward, the Euro Brigade!
Charge for the loans they said:
Into the valley of Debt
Rode the unfunded
'Forward, the Euro Brigade!'
Was there a bond unpayed?
Not tho' the Eurocrats knew
Some one had blunder'd:
Theirs not to make reply,
Theirs not to reason why,
Theirs but to do or die:
Into the valley of Debt
Rode the unfunded
Spending to the right of them,
Spending to the left of them,
Spending in front of them
Follied and blunder'd;
Storm'd at, all rushing to sell,
Boldly they bought and well,
Into the jaws of Debt,
Into the mouth of Hell
Rode the unfunded
Flash'd all their policies bare,
Flash'd as they turned into air
Shattering the investors there,
Meetings and summits while
All the world wonder'd:
With policy of mirrors and smoke
the global economy they broke;
Chinese and Russian
Reel'd from a rate cutting-stroke
Shatter'd and sunder'd.
Then they rode back, but not
Not the unfunded
Selling to right of them,
Selling to left of them,
Selling behind them
Follied and Blundered
Storm'd at, all shot up to hell,
While investors continued to sell,
They that had bought so well
Came thro' the jaws of Debt
Back from the mouth of Hell,
All that was left of them,
Left and unfunded
When can their story fade?
O the wild charges they made!
All the world wonder'd.
Honour the blunders they made?
Honour the Euro Brigade?
Forever unfunded!
Friday, October 21, 2011
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