Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. These days I'm retired, and I can't by law give you advice. While I do make mistakes, I try hard to do my analysis thoroughly, and to make sure my data are correct (old habits die hard!) Also, don't ask me why I called it "Volewica". It's too late, now.
BTW, clicking on most charts will produce the original-sized, i.e., bigger version.
Friday, September 16, 2011
The European pollies continue to dither, but the key central banks are taking action. Finally.
Stephanie Flanders has a thoughtful blog post about the whole mess here.
I still think Greece will effectively default. Its burdens are too great now. But .... it's just possible that the default will be orderly.
Interesting times. I took some money off the table a few days ago, despairing that the Europeans would get their actions together. The outlook today is brighter. Somewhat.
Posted by Nikolaos at 12:40 PM