Terror strikes two days in a row over Greece’s potential default and political puppet show. I recommend a read of http://scottgrannis.blogspot.com/
This blog is written by a former economist for Western Asset Management. I don’t always agree with his conclusions, but he does pull together many statistics into readable charts. Scan his recommended blogs on the left. You need to place his information into your understanding of economic theory. Note the post on money supply growth! Don’t be surprised by faster NOMINAL economic growth. Scroll down for his article on Greece.
Greece’s economy is too small at $300 million to be of consequence but it does force the market to realize that no solution will occur until ALL western governments abandon their welfare states. Governments have outgrown their economy’s ability to support them. The parasite has outgrown its host. Government spending is suffocating economic vitality. In the end, the markets are helping us face reality and that can’t be a bad thing after all.
Volatility is Your Friend
I hope readers could cherry pick and buy a few shares of quality companies during these times of panic. A trick I learned is to place orders at silly prices, good til cancelled, below the market of companies that you would love to own at that price. Place the orders while the market is closed and you are calm then be patient. You never know on days like today what fish you will hook.
Day of the Dead
Down here Mexico way watching the Day of the Dead. Mexican families bring food, drink and have a party on their loved ones’ graves. Rockin on Granny´s grave! I´m told this day has religious significance, but the Mexicans make a fiesta of the occasion. Creepy or a celebration of death or a way to deal with your own impending passing. I leave it for you to decide.
Pass the Mezcal please…………….