It’s important to keep a sober assessment of the latest hopes for Greece miracles:
“France’s new plan to rescue Greece and forestall the looming global financial crisis has one important thing in common with all the previous efforts: It won’t work.
Read why here.
A beauty from the Wall Street Journal today: “stocks rose, buoyed by increased optimism that a solution will be found to Greece’s debt problems.”
And for an encore…tomorrow we are expecting to receive proof that there is a Tooth Fairy.
Two steps up, 5 steps down repeat until the market has discounted stock prices to reflect real economic demand. QE’s 1, 2, 3, 4, 5, 6… Have not and will not work. This is a CONSUMER led slowdown, it has nothing to do with liquidity issues… It’s household solvency issues and it seems the market is now starting to understand that.
CNN, CNBC, BNN and BERNANKE CANNOT FORCE PEOPLE TO CONSUME.
PIIGS are merely a side-show to what is really happening.
The stock market is signaling the global economy is weakening, whether the “long-always” crowd agree or not.
