Carnage!!
Today (May 20, 2010) on Wall Street The pounding continues in Asia (9:08 PM, May 20, 2010) What is going on? Sovereign debt crisis, leading to disintegrating Euro, leading to major currency crisis. More on this on Friday, May 21st MMGL.
Euro
Get out… NOW!
I am not a stock market “guru.” Nor am I guru wannabe. On April 26th, pretty much to the day on which stock market set a nearly 20 month high, I gave my outlook on markets. Current Market Outlook As of today’s data, I believe that the world stock markets are heading towards a steep […]
Greece Bailout
Today the Eurozone leaders have announced some sort of a rescue plan for debt burdened Greece. The pledge failed to calm fears. Experts I follow are warning that this sovereign debt storm will not stop with Greece, Spain or Portugal. It is expected to spread to entire Europe and affect US and all economies in […]
BBC Report: Is Euro Crumbling?
The problems in Greece have exposed structural problems associated with Euro as a currency. Several parallels are drawn between Greece and Bear Sterns: Greece problems are to sovereign debt as Bear Sterns problems are to mortgage debt. I am watching this unfolding crisis with disgust over two things: a) Wall Street corruption that has a […]
BBC Report: ABCs of Greece Economic Problems
As I have alerted earlier on this blog that the epicenter of a new financial storm is currently centered in PIIGS countries – specifically, Greece. The problem is simple – Greece borrowed heavily for Olympics related spending and other growth. About 30 Bil Euros of that debt is due or needs to be rolled over […]