While we mock and ridicule the corrupt and often times purposefully obtuse Greek politicians, we often ignore the human cost in the equation (and so does the rest of the world). Unfortunately this is becoming an ever greater issue for a country that is rapidly devolving to sub-3rd world status. Because while we have previously discussed the miserable conditions for a country where ever more people are sliding out of the middle class and into poverty status, in reality it is far worse. Spiegel has profiled the new Misery in Athens where "aid workers and soup kitchens in Athens are struggling to provide for the city's "new poor." Since the economic crisis has taken hold, poverty has taken hold among Greece's middle class. And suicide rates have nearly doubled." Just like in the US, those in misery are growing exponentially, but the last thing anyone needs is a reminder of their existence. Yet perhaps they should, because when the Bastille moment hits, the spark to overthrow tyranny, especially that masking under the guise of democracy, will come precisely from the slums of the impoverished and disenfranchised, from those who have nothing left to lose. In Greece, with 28% of the population living "at risk of poverty or social exclusion" this moment may arrive any second.
Spiegel's report from an Athens soup kitchen must be read by all who think things like these no longer exist in modern EU countries:
This is a post that we spotted on Zerohedge earlier today, please click here to read the article in full.
Although these pictures are from Athens, be warned that this situation is never too far away from any of us, this is the tip of the ice berg with many more of our cities and towns facing a similar situation shortly.
Regarding www.skoptionstrading.com. We are off to a good start this year closing two trades in January, the first gave us a profit of 71.58% and the second gave us a profit of 33.97%.
It was nice to bag a couple of winners before January ended and hopefully 2012 will continue in a successful manner. We do have a number of ideas on the drawing board which we are looking to execute shortly, but only when the risk/reward environment is firmly in our favour.
Please be aware that discussions are taking place regarding an increase in the price for this service for new members, so if you are thinking about joining us, then do it sooner rather later in order to avoid this additional expense. This price increase will not affect the current subscribers whose subscription will remain unchanged.
Our performance stats have now been updated as follows:
Our model portfolio is up 446.55% since inception
An annualized return of 98.38%
Average return per trade of 36.68%
96 completed trades, 88 closed at a profit
A success rate of 91.67%
Average trade open for 50.48 days
Also many thanks to those of you who have already joined us and for the very kind words that you sent us regarding the service so far, we hope that we can continue to put a smile on your faces.
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