I'm pretty skeptical of this rally on the "great" news out of Greece and China. China's rally seems to be the result of the gov't requiring massive amounts of direct stock purchases, and the Greece deal leaves the economy in complete shambles. Seems very short-sighted in both cases. What's to cheer?
Double ouch.
Quote:We don't know yet how much damage the panic inflicted, and the government isn't entirely to blame for it—the European Central Bank, by limiting emergency lending to Greek banks, helped start the chaos. But it seems certain that this whole incident has ended up sinking the country further into depression, in return for little to nothing.
Greece never had a very good hand in these negotiations. Though it's been correct on the merits regarding many issues, especially debt relief, the second German officials and their allies decided the European Union could survive a Greek default and exit from the euro, Tsipras and his far-left party Syriza lost nearly all of their leverage. But over the last couple of weeks, we've basically watched Athens go all-in on its hand, then fold at the last second. And it's been awful for the Greek people.
(07-10-2015, 09:44 AM)Kerim Wrote: [ -> ]I'm pretty skeptical of this rally on the "great" news out of Greece and China. China's rally seems to be the result of the gov't requiring massive amounts of direct stock purchases, and the Greece deal leaves the economy in complete shambles. Seems very short-sighted in both cases. What's to cheer?
To me, it seems that China is basically doing a form of QE, but much less safe. However, the way I see it, when America did something similar during the stock market sliding in 1929 and it propped up the stocks for about a week before it plummeted. Let's hope the same doesn't hold true for China. As for Greece, I don't think that will be worked out for a positive outcome maybe even this decade.
Market jumps over Greece (possible) deal. What happened to "Greece doesnt matter"?
....aaaaaaand we're back to within a few points of a new all-time high. Boy, gotta really pounce of the dips these days!
(07-16-2015, 04:41 PM)Kerim Wrote: [ -> ]....aaaaaaand we're back to within a few points of a new all-time high. Boy, gotta really pounce of the dips these days!
No kidding, they don't last long!
(07-16-2015, 04:41 PM)Kerim Wrote: [ -> ]....aaaaaaand we're back to within a few points of a new all-time high. Boy, gotta really pounce of the dips these days!
Rapid's comment about a "good flush" perked me up. I was just getting interested in doing something other than counting the dividend checks and Mr. Market snatches it away from me.
