Discussion in 'Economics' started by hayman, Apr 29, 2010.
Yup, scary stuff:
Again this is a non event according to most people, nearly every talking head says that the bailout is coming and everything will be back to normal in a couple of weeks. I think these news stories are pretty much pointless, markets continue to rise as they keep pumping trillions into them, just as the crisis in the US was fixed within a few hours the same will be said for this greece problem that exists.
Markets are surging right now to 2010 highs, erasing every bit of loss from tuesdays drop of more than 200 points on the dow.
Nariman Behravesh, chief economist at IHS Global Insight, a U.S. forecasting firm, said the challenge will be for the International Monetary Fund, the world's lender of last resort, and other European countries to come up with a rescue package credible enough to convince financial markets that authorities are determined to limit the spread of the problem.
It's amazing how ignorant some have become. What's the saying, "Those who are ignorant of history, are doomed to repeat it."....or something to that effect.
Separate names with a comma.