Doom News

Remember G-Pap's statement, repeated roughly once for every dollar of US sovereign debt, that Greece is not looking for financial aid? One could say the man knows a lost cause when he sees one (nobody can say they refused to help you if you didn't actually need help), which is why Greece has just become the biggest sovereign debt panhandler, begging its own people for a bailout. The Greek situation is now so bad that as of a few days ago there is a newly opened account titled "Solidarity Account for Repayment of Public Debt" at the Bank of Greece, which is now redirecting public donations straight for the "repayment of Greece's public debt." We hope these are tax deductible. This account has appeared about at the same time as California has started asking retail investors to directly invest in its critical $2 billion bond offering. In the sovereign crises of the future, will paypal donations play a critical role? All signs point to yes.

h/t Marco