What would Nietzsche say?

Financial markets are already betting Greece will default again in the future. Grey market pricing for the new Greek bonds to be issued as part of the exchange ranged from 17 to 28 cents on the euro, a highly distressed level, according to indicative quotes seen by the FT.

The pricing equates to a yield on the new bonds of 17 to 21 per cent about where Greek yields stood in the autumn and far worse than the yield on debt issued by Portugal, which has also received a bailout.

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The flippant answer is that Nietzsche would say the Greeks have lost their agonistic spirit, and the ability to look unflinchingly at disaster without moaning, griping or complaining. (One wonders what he would have made of the bureaucratic world as a whole... He'd find it insipid and herd-like, no?)

A more realistic answer is that he wouldn't say much. He didn't have a lot of interest in economics. In that respect he was more a "culturalist" than a materialist.

what would Kelly Clarkson say?

In order to inspire trust in his promise to pay back, in order to give his promise a guarantee of its seriousness and sanctity, in order to impress on his own conscience the idea of paying back as a duty, an obligation, the debtor, by virtue of the contract, pledges to the creditor, in the event that he does not pay, something that he still “owns,” something over which he still exercises power, for example, his body or his wife or his freedom or even his life (or, under certain religious conditions, even his blessedness, the salvation of his soul, or finally his peace in the grave, as was the case in Egypt, where the dead body of the debtor even in the tomb found no peace from the creditor—and it’s certain that with the Egyptians such peace was particularly important). That means that the creditor could inflict all kinds of ignominy and torture on the body of the debtor—for instance, slicing off the body as much as seemed appropriate for the size of the debt. And this point of view early on and everywhere gave rise to precise, sometimes horrific estimates going into finer and finer details, legally established estimates about individual limbs and body parts.

As Jeeves said, Nietzsche's views are fundamentally unsound.

I thought he said that about Schopenhauer.

When Greece stared into the bond markets, the bond markets stared back.

Nietzsche would ridicule the concept of nations as leading to these situations, then something about being on top of mountains and shit doing cool stuff.

What doesn't kill Greece makes it stronger. Who knew Nietzsche was such an optimist?

Greece is dead?

The Eternal recurrence of the same.

That was my thought.

Amor fati!

"Get me some of dat high-yield shit." -- Friederich Nietzsche

I was thinking, "History is a nightmare from which I am trying to escape."

The Greek people need to realize that they cannot draw blood from a rock and so default already.

Greece is dead...and we all killed it.

Ressentiment is no basis for GDP growth

Dionysian credit binges must be balanced by Apollonian austerity.

By misappropriating classical elements for his own ignoble Teutonic ends, Richard Wagner should shoulder much of the blame for the decay of the Greek spirit.

etc, etc.

BT

Made me think of this:

“Why did this criminal commit murder? He meant to rob.” But I tell you, that his soul wanted blood, not the prize of theft: he thirsted for the happiness of the knife!

Die Leute halten griechischen Schulden werden gefickt

Isn't the EU, in complicity with the US, by forcing creditors to write down the sovereign debt they owe, simply declaring to the world that government borrowing is indistinguishable from theft? It's not so much a response to a crisis as a test case to see whether in the end all governments can just steal everything from everybody... default is not a bug, but a feature.

Greece is falling, give them a push.

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