Home > Market Set Up > Beggars Can’t Be Choosers.

Beggars Can’t Be Choosers.

The IMF and the euro-zone agreed last month at the European Union summit to give bi-lateral loans to Athens. A report released by Market News International said that Greece was seeking to amend the plan to avoid having the IMF being involved.  The President of Greece citing he feared social and political unrest that may come about because of this.
I wonder if the Greeks are familiar with the phrase “Beggars can’t be choosers?” I mean your countries economy can not sustain itself. Are they really the ones that should be determining the terms on how they get bailed out?
However, the strengthening of the dollar against the Euro hasn’t seemed to have affected US markets. As the Dow flirts with 11,000 and the SPY continues to make new highs. However, I would have to think at some point the US market will be affected by a strengthening dollar. It seems the dollar will need to break 1.32670 before we;d expect to see a reaction from the market.

Dollar again strengthening against the EURO.

Markets have been drifting higher on a “great” March job numbers and hopes that we are on the path to the recovery. However, I look at the job numbers with a lot of skepticism. Being that the temporary census jobs accounted for nearly a third of March jobs. Another 600,000 jobs are to be added in the next couple months, but they end in July. Then what?

  1. tegus
    April 6, 2010 at 2:08 pm

    The Greeks have started to say that the Germans haven’t really paid back for all the damage done during WWII…. Paraphrasing an old saying, if Greece owed a few million – they would be in trouble; but they owe billions – so the EU may be the one in trouble…. this could get interesting.

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