Off topic, but from ZeroHedge a little bit ago:
“On the day when Greek 1Y yields broke above 400% for the first time, a consideration of just what Greece would look like post-exit is perhaps fruitful.”
400% yield on greek 1 yr. notes? Greece isn’t circling the drain, they are down it!
http://www.zerohedge.com/news/market-implies-greek-devaluation-1530-drachma-versus-euro
Our economy equals the sum of the next three economies. Even California equals the economy of the country that is the ninth largest in the world.
Thanks for the link. I noticed that the pesata is expected to track well with the deutschmark -- I guess that means that Spain is expected to recover Euro or no. My wife visits her family in Spain and it seems every time she goes the Euro shoots up to $1.50+. It's down to less that $1.30 the last time I looked.
The saddest thing is that families in Greece are giving up their children to government care because they cannot afford the kids. It's happened elsewhere but much worse, here's a shocking video report Here.