Greek Debt- Stock Market drop.

[Turbineguy]

The Greeks might default on their $300 Billion Debt. Well not on most of it, maybe just a little and maybe then only on the interest in the short term. This is old news.

The US Stock market today drops 1.4% representing a drop of $770 Billion.

This tells me that the entire market is made up of derivatives. It used to be that if you owned stock in a listed publicly traded company you actually owned a percentage of that company. I don't think so. Not any more.

This explains the rise of private equity capital. Private equity capital organizations actually own other companies. The rest of us are left holding the bag and owning nothing. In the mean time armies of financial consultants make billions off this mirage.