Time to pick up some bargains.

@macdaddy cutting taxes and starting wars just might get us there

No good options for this one TB.The powers that be now have a choice to make, cut the Greeks loose or come to terms.Love the Greek politicians, surprise announcement of vote going to the people giving themselves cover, but they voted for terms that are no longer on the table. A lot of Greeks did not understand even what they were voting for a real mess.Interesting to see what happens, a Greek exit from the Euro will probably mean an exit from the Euro zone. The Greeks can then print all the money they want but inflation will make it almost worthless. I feel bad for the regular folks in Greece as always your average Joe is going to bear the burden.

Ok the Greek financial minister who helped cause some of this mayhem by insisting on a 30% debt reduction and I will have to check but something like a 20 year grace period before debt payments begin has resigned the morning after the no bailout vote.

Didn't get any near the 250 fall. Probably already factored into the market somewhat.

@tb505 fund managers dumped greek stocks weeks/months ago... so that's why there wasn't much of an impact... this didn't catch any fund manager by surprise

Some interesting comments here.I appreciate those who weighed in here....it's a ***** to marry the politics with the economics on this.Short term.....Greeks are in for more suckage no matter what. Chickens are coming home to roost. Greece aside, the Germans are coming to grips with the issues surrounding a central monetary policy undercut by multiple fiscal policies. The plan worked great to export goods (and Germany is a helluva producer) until the southern countries ran out of other people's money.....and now those importers can't devalue their currency to pay for the party......cuz they don't control the currency. As widely predicted, the Euro is doomed in the long term, unless they all agree to a central government. And given hundreds of years experience and history, that ain't happening.As to Greece.....they should get out of the EU now and revert to drachma as the currency. It will mean a short term period of suffering, but it will be the straightest path to self reliance and trust from the international finance community.I hope for their sake, politics don't interrupt the math.........cuz math is a ***** and don't care about a vote.**edit**@Posterguy made some awesome observations on this. Not exhaustive, but definitely on point. Well done sir.....am I still "mean?".......whatever, I enjoyed your fine work here.

BTW, happy anniversary to me on June 30.......3 years.....still a rookie in @sandman and @brightlights terms.So as not to derail.....I'll say one more thing. Greek policy is exemplified by their social retirement policy. Their version of our Social Security allowed for retirement at 55 paying 80% of salary. I'm not sure of the environment where that works out, but I damn sure know it doesn't work in the current math of more retirees than births in Greece.......for the last 15 years. If there are any correlations to the USA, this is it.....our SS depends on a balance of fertility/workers to deaths.......and we are losing the battle.Germans retire at 67 with 48% salary......BTW.Just an example of the different fiscal policies that the Euro is trying to accommodate......impossible......but that is my opinion.......and I've been wrong before. I envy math......never has to admit to be being wrong.....cuz, you know, it's undefeated....

@PosterguySpot on, friend ........but pain for Greeks is inevitable.......now, later.....whatever.But, to be be clear, it won't just be inflation that causes the pain.........call it hyper inflation. A malady we have observed a dozen times in recent history........it ain't short term pretty and long term dependent on fiscal policy and tolerance of the electorate. Gonna take a damn good politician to lay that out. They have my prayers for that leader.Kinda depends on your view of the horizon.......and the older I get, the more I view that horizon in the short term......and olds are increasing in number in developed countries.....and tend to vote.

One last thing.....I promise..Multiple apologies to @Fairlane.......Went off the rails tonite....my bad......but, valid subjects come here so rarely, I beg your leave, sir.For anyone that wants to put up a comprehensive post covering the issues to to Greece and the Euro problem......you should issue a similar apology to Fairlane cuz it will be a long post......covering lotsa issues..........and would command my upmost respect.