Two days ago the Financial Times reported that Angela Merkel expressed support for Greece. Yesterday it reported that Nicolas Sarkozy expressed support for Greece. Today it first reported that Berlin and Paris show support for Greece, and then it reported that backing for Greece had steadied investor nerves. By the way, The Wall Street Journal reported today that Germany and France vow support of Greece. In short, the stockmarkets around the globe are up. Now, how much more stupid can stockmarkets ever get?! With or without the two beleaguered politicians’ avowed support, Greece is as good as bankrupt, anyway. And Greece is far from alone in facing bankruptcy within the eurozone.

Addendum (September 19, 2011)

It has taken the weekend for the stockmarkets to figure out that Merkel and Sarkozy are not Berlin and Paris, let alone Germany and France. As well as that Germany and France together are not enough to save Greece. The stockmarkets are thus down today. Way down. What is stunning in all this is that stockmarkets are evidently ruled by animal spirits most despicable. No knowledge. No intelligence. Just emotions. Yes, raw emotions worthy of our closest cousins, the monkeys. And stockmarkets are jammed with the best and the brightest that unbridled capitalism has to offer.