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7/5/15

Mainstream media continue to spew complete bollocks about Greece

I've just read this on the Guardian's "business live" rolling report thingy on Greece this (Americas time) lunchtime:


An example of the complete crap they're still serving up for the benefit of the lumpen. Firstly, if you didn't get that Greece was going to vote No this weekend you deserve to lose any money you risked on the counter, it was that freakin obvious. Second, there isn't going to be any "crisis" when the markets open tomorrow morning, just the same as there wasn't one last Monday despite the best efforts of the dumbass brigade of wailers. There will be a market adjustment, then life will go on unruffled. The rest is noise.

Want it simple? 

1) Markets don't like surprises.
2) Greece voting No today is not a surprise.
3) Markets won't care.

What the market will care about is if Merkel and her friends decide to throw Greece out the Eurozone, but that's already been decided; they won't. Syriza had already won the game of chicken before the polls even opened this morning.