Episode 86: As previously mentioned, currently I like some European stocks- those favored by the strong US dollar and weak oil prices. Many people are worried about Greece defaulting. I believe that troubles in Greece could cause some additional market volatility. But the drama has dragged on too long (US interest rates are back up, gold has stabilized). The ECB has made a decisive move with QE in excess of $1 billion…about 10 times Greece’s entire GDP.
Europe is an unstable place, the origin of two world wars in the past century. It will continue to have its problems, but Greece is a minor one. Greece’s GDP has already declined 30% in the past 6 years. Greece’s GDP is less than Louisiana. In terms of economic significance, Greece is to Europe what Mississippi is to the US.
In 1941 Greece surrendered to Germany in about 30 days. What do you think will happen this time?
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