UPDATE: How do I know Greece is screwed? Because I have to make an update on the same day as the original post to say Greece's two year debt is actually at 39% now. This may all come to a head before September. Be prepared.
Tuesday, July 19, 2011
The Daily Snark 7/19
Here is something I don't understand (again, finance is not my forte): if Greek debt is at the 36% interest mark on two year debt, who in their right mind is lending money to Greece? Who looks at this situation as says, I bet Greece will honor this in two years. Yes, a 36% profit sounds amazing, but the odds of losing on this gamble are so high that there is no way it comes out positively in a cost-benefit analysis. It makes me wonder who is actually purchasing this debt.
UPDATE: How do I know Greece is screwed? Because I have to make an update on the same day as the original post to say Greece's two year debt is actually at 39% now. This may all come to a head before September. Be prepared.
UPDATE: How do I know Greece is screwed? Because I have to make an update on the same day as the original post to say Greece's two year debt is actually at 39% now. This may all come to a head before September. Be prepared.
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