07-10-2015, 09:23 PM
(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.