magerette
Hedgewitch
- Joined
- October 18, 2006
- Messages
- 7,834
I can tell the situation is getting pretty serious over there because we're finally paying attention to it here in our totally self-absorbed and self-reflecting news media. Yesterday's stock market plunge of over a thousand points in 15 minutes(even though it corrected itself) got everyone's attention and the pundits are trying to figure out if it was caused by some flash-based order processing glitch, *really* crazy market manipulation, or some sort of Greek/Euro related panic.
http://news.yahoo.com/s/ap/20100507/ap_on_bi_st_ma_re/us_wall_street
Frankly, it looks like we're all going to take some kind of hit whenever finances are grossly mismanaged, whether by corporations or countries, due to the very nature of how the modern global interdependent financial system works.
http://news.yahoo.com/s/ap/20100507/ap_on_bi_st_ma_re/us_wall_street
U.S. stocks were already sharply lower Thursday even before the big mid-afternoon plunge. Investors were concerned that a $140 billion bailout for Greece would be unable to stop a spread of debt issues across Europe that could unravel a global economic recovery…
…The dollar, which has been rising sharply particularly against the euro, retreated early Friday. Investors had been pouring money into the dollar and pulling out of the euro because of worries that the European common currency could eventually collapse under the weight of the mounting debt problems.
Frankly, it looks like we're all going to take some kind of hit whenever finances are grossly mismanaged, whether by corporations or countries, due to the very nature of how the modern global interdependent financial system works.
- Joined
- Oct 18, 2006
- Messages
- 7,834