Greece: SAVED or not SAVED?
Cue the Rally Monkey!
It’s Monday in Asia and their stock markets are giving the Greek Election outcome a vote of confidence.
“Asia Stocks Up in Relief Rally After Greek Vote”
http://www.cnbc.com/id/47852329
Greece: SAVED or not SAVED?
Cue the Rally Monkey!
Greece votes to stay in Europe, although a coalition government will be difficult.
Egypt votes to leave civilization.
France votes for Economic Suicide.
Quite the interesting day.
Sunday night/Monday morning stocks/futures/currency action is less a legitimate indicator of political or economic success than it is a case of rush in on the hype and sell to the greater fool come Tuesday (or whenever).
The situation from the stock speculator's point of view had been set up as a heads I win, tails you lose. Either the old bailout would continue (looks like that is the case) or a new, bigger one, would come forth. This type of thinking doesn't last very long. Reality intrudes.
