The banks were saved but the people ruined

GreekBuying when there is blood in the streets:

But oh so hard to do when all the pundits and economic ‘experts’ were certain – it was ‘obvious’ – that Greece would collapse.  Holders of Greek bonds this year have returned in excess of 100%.  It is helpful to understand the real estate cycle and for whose benefit it is maintained.  I took great effort over 2010 and 2011 to explain to subscribers of my service  that Greece would NEVER be permitted to default, and I explained why.  It is always the same maxim at real estate low points:  “the banks were saved but the people ruined“.