Dear CIGAs,

Good Morning from Toronto!

For those that think the Greek situation is a typical slow motion process of the European debating society, you need to focus on the fact that Greece will be out of money most likely in the next six weeks. Since there was a failure to float a debt offering last week, it might in fact be sooner.

This situation is not going to drag on for a long time. It will reach crisis levels in weeks.

The Greek state of the EU, like any major state of the US, will be bailed out as it reaches crisis levels. The only question where Greece is concerned is the means of and principle to the bailout mechanism.

QE to infinity is the only way out of this Western world financial crisis.

The US economy is not recovering but is in fact rolling over again. Forget any mope out of Bernanke today.

Stay focused and do not be confused by day to day noise.

Respectfully,
Jim