Greece is virtually falling apart but nobody’s watching. Today I’ve spent 15 minutes listening the Jim Cramer show, (which was quite an accomplishment). He did not mention Greece in the first 15 minutes (he later answered to my tweet and claimed that he mentioned Greece twice). And other media is covering Greece but it doesn’t make to top ratings and front pages anymore. What happened? Maybe the public is simply tired and do not want to read about Greece anymore. Maybe the shorts were well prepared last time and pushed the media to bring more attention. This time it came out of blue and nobody pre-shorted. But whatever it is, since January there were tens of thousands of article about Greece and the informational market is simply saturated, there is almost nothing more to say. Except that it’s getting much worse. What I want to say here is to throw out everything that is not important and summarize what the Greek situation is just in few words. Where the danger is coming from? Some financial institutions, which names are unknown to me, played the dangerous game. The purchased the 4%-5% (back then) yielding greek bonds on leverage and used them as […]
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