Danny Salas

Archive for February 25th, 2010

Chico, CA Interest Rates Market Report – Economic Influences – February 25, 2010

Greece Could Cause Domino Effect

Greece III

I would imagine that a Greece III Movie might have this subtitle:  Worse than Greece II, Which Was Worse Than, Perhaps, Joe Dirt. Moody’s and Standard & Poor’s, is considering lowering Greece’s bond rating to kind of a Joe Dirt, status.  This is alarming because any financial institution that holds any Greek debt, will find their capital values plummet, causing their reserve requirements to be in jeopardy.  So, it effects the world, not just Greece.  Germany and France are the largest holder of Greek debt, however, remember the mortgage credit crisis? Remember how experts, sort of, shrugged off any concerns, before the hammer fell?

Sound Familiar?

Germany and France have their own financial troubles to worry about.  So, this problem is Greece exponential.  German Chancellor Angela Merkel stated that the Euro is…”in a difficult situation…for the first time since its introduction…but it will come through.”  Agreed, however, who will be effected?  Spain, Ireland, Portugal, and other European Nations are all in financial trouble.  Let’s hope they’re not heading down the same road, as Greece.

Initial Jobless Claims

500,000 people filed claims for unemployment benefits.  This is horrible!  It’s also closer to the reality that I’ve been talking about.  I hate being pessimistic, but I, also, appreciate truth.  And, the truth is…things are ugly!

Locking Advice

Back To Float Mode

With the Initial Jobless Claims and Greece’s finances throwing the Stock Market into a tailspin, it’s time to float, again.

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