Greece is on the brink.
By Daniel at 14 December, 2009, 9:58 am
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Their govt is telling all that everything is going to be alright. But even though they have a recently new elected govt. they want to keep the calm
Oil is bot with dollars. If the Euro goes under, even Iran will be stuck.
I can only visualize that the people who have money in the bank are pulling it out.
Imagine going to a bank to ask for your Euros and Greece has no Euros to give you.
If Greece opts out of the Euro they have to go out for their own currency which may be a Godsend for the locals. It will increase tourism and give them their sovereignty back.
I am thinking the latter.
Dubai rescue basically deals with a financial situation. So you would expect that financials would be leading the way up this morning.
Looking at the XLF (SPDR Financials), I see they are up .49% in premarket. Yet the SPY is up .71%.
How does one country’s financial solution translate to the entire SP500 being up more than the sector that should benefit the most. Is our entire economy somehow benefited by Dubai’s rescue????
Something smells in Denmark and it sure as shootin isn’t the cheese!!
Have to wonder if the gains in premarket will hold up throughout the day.
- DemocraticDamage
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