2011 mid-point. Big case coming up. Volatile stock market. Clients edgy. Attending events.
Now I take time to write.
And I will focus on investment. Let me focus on Europe and the happenings in Greece.
Last year we saw Greece's first bailout, followed by Ireland, then came Portugal. Greece was supposed to have cut its debt through austerity measures, better manage its taxes, stimulate its economy and make some headway. It didn't. And now we see credit default swaps on Greece debt at record highs; and the market is basically predicting a sure debt default at some point. If 'Mr Market' has already priced in a default, and everyone believes markets are forward looking, what's the big deal? Why fuss over Greece?
In 2008, we had the US subprime crisis; Bear Stearns (remember the US $2 bill); Lehman collapse.
In 2011, we face the Euro sovereign debt crisis; perhaps Greece default?; trouble brewing over ......
