Beware of Greeks Bearing Horses!

Let's see - markets freaking over Greece when they should logically be freaking over Ireland. (Note: markets are NEVER rational - Univ. of Chicago morons not withstanding.)

Executive Summary:

Ireland

Population: 6.1 million (source.)

Debt: $1.8 trillion (source.)

That's trillion with a T. And the population is half of that of Mumbai.

Quick long division later, that's $448K for each man, woman and child.

That's a fuckload of Riverdance tickets they are going to have to sell. Or they could just institute a penny-tax per pint, and they'll pay it back in a year.

Either way they are fucked, and the lenders are equally fucked.

If Greece is Bear Stearns then Ireland is Lehman Brothers. Good luck! You'll need it.