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Wednesday, April 21, 2010

Tic-Tac 2.0

Yesterday the Greek yields were at 7.7%.

Today again, with no surprise, yields breached a new high, making a new record.

Of course, media blames the damn speculators. What speculators? The speculators that are afraid they won't have their money back? If Greece doesn't want to be exposed to the so called "evil speculators" and the high yields they have a pretty good way to do so: stop borrowing money ! Just the same way a family when filled with debt they have only one solution. First, stop borrowing money after money with the only purpose of paying previous debts - this just makes you dig a deeper hole - and cut the expenses to balance the solvency problem that will come after, once you fall back into reality and see that you cannot maintain the old standards, since those standards were reached from money it wasn't theirs in the first place !

Why Greece would be any different than what the market is for any other kind of market agent, just like any company or family?

Yields today at 8.33%. It's a matter of time for IMF or EU to intervene...

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