As default looms large over Puerto Rico, CNBC's Jim Cramer said Tuesday the situation there is more important to investors than the Greek saga or the situation in China.

Puerto Rico more important than Greece, China: Cramer

As default looms large over Puerto Rico, CNBC's Jim Cramer said Tuesday the situation there is more important to investors than the Greek saga or the situation in China.
"Everybody had it. Rich people had Puerto Rico. Mutual funds had Puerto Rico [bonds]. A lot of hedge funds had levered up Puerto Rico because it was such a great trade. It turned out to be not so great," Cramer said on "Squawk on the Street."
Cramer made his remarks a day after the U.S. territory's governor, Alejandro García Padilla, told The New York Times that, as the situation stands now, Puerto Rico cannot pay its $72 billion debt. "This is not politics, this is math," García Padilla said.
http://www.cnbc.com/id/102798297

urgent--------CLEARLY SHOWS Chinese shares are in a bubble

 The graph that shows Chinese shares are in a bubble 

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The Shanghai market has more than doubled in a year, while another crucial measure suggests investor demand is unsustainable

“If this is not a bubble then it’s hard to imagine what one looks like," said Paul Marson, Monogram's chief investment officer. "The average daily stock market turnover has increased 10-fold in the past year to 830bn yuan from 80bn."

He said the root cause was an increase in lending by China's banks, allied with increased appetite for shares as the Chinese property loses its appeal.

"An enormous amount of liquidity has gone from inflating the property market, which is now deflating, to inflating stock prices,” Mr Marson said.

He added: “This is a very unhealthy sign for the global economy. It can only end in tears. Bubbles always leave behind more problems than they resolved.”

http://myinvestingnotes.blogspot.com/2015/06/the-graph-that-shows-chinese-shares-are.html