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Greece

Thursday stocks wobbly, as China, health mergers hit news

WASHINGTON, July 23, 2015 – Wall Street is still climbing out of the rubble of Wednesday’s brutal stock market crunch. There have been worse down days as such things go, but pretty much every sector got sucker punched yesterday, and both companies and traders are still shaking it off, with trust in advice, indicators, charts, ...

Sen. Toomey: Should Congress—not the Fed—set interest rates?

WASHINGTON, July 16, 2015 – As the stock market meanders today in mildly positive territory, from our “Now We’ve Heard Everything” Department, we bring you this news item (via CNBC) to warm the cockles of every would-be statist’s heart: “Republican Sen. Pat Toomey said Thursday it’s ‘unbelievable’ that interest rates remain so low and it’s time ...

Stocks tread water, digesting Yellen, Iran, Greece situations

WASHINGTON, July 15, 2015 – As President Obama takes his victory lap holds a rare press conference this afternoon to crow about discuss his capitulation to historic agreement with the radical imams running the Islamic Republic of Iran, the financial world is still trying to digest what’s ultimately going to unfold in Greece—and whether it will ...

U.S. markets remain positive despite Iran, poor growth

WASHINGTON, July 14, 2015 – Going into the final hour of trading Tuesday, it seems like a fairly decent environment on Wall Street. The problem is, this week’s Era of Good Feelings has a temporary feel about it. Averages continue to go up despite poor U.S. retail sales figures. The allegedly-solved Grexit dilemma is still not ...

Grexit over. For now. Meanwhile, Hillary to the rescue!

WASHINGTON, July 13, 2015 – The Maven has just returned from a fun weekend in scenic Shepherdstown, West Virginia. There, in that quaint colonial university town, he and his alter-ego (along with Mrs. Maven) traveled Friday evening to review the kickoff weekend of the 25th annual Contemporary American Theater Festival (CATF) of new American plays. ...

Unsettling trading day as investors ponder China, Greece

WASHINGTON, July 9, 2015 – The crosstalk in world markets has become so overwhelming that the average investor can no longer figure out what to do. Buffeted by Grexit fears, China fears, Puerto Rico fears, interest rate fears, oil price fears, Iran fears and—just today—rocky U.S. unemployment numbers, traders don’t know whether to laugh, cry, ...

Stocks down again Wednesday awaiting Fed minutes, doomsday

WASHINGTON, July 8, 2015 – U.S. stock markets were pounded down again after Wednesday’s 9:30 a.m. opening trade, plunging to over 200 Dow points in the red before that bellwether average began to steady somewhere between -150 and -175 points as we write this at 11 a.m. EDT. The usual suspects all showed up on ...

Greece, oil, now China tanks: The summer of our discontent?

WASHINGTON, July 7, 2015 – We’re facing a real harmonic convergence of bad stuff on Wall Street this morning, as traders and institutions continue to bail out of or short stocks against a rising tide of bad and/or uncertain news. Let us count the ways. Or better yet, let’s take a quick look at the ...

Greece votes ‘No.’ Grexit, ‘Plan Z’ to follow?

WASHINGTON, July 5, 2015 – By an apparent 20 percent margin, Greek citizens voted “no,” in support of their Communist-led government’s intransigent position against the Eurozone’s current bailout deal, virtually guaranteeing that some kind of Greek exit from the Eurozone will take place. Sadly, the only thing Greek voters had to choose today was the ...

Grexit fears, anemic U.S. job numbers hit pre-holiday trade

WASHINGTON, July 2, 2015 – Part of the problem writing this column in 2015 is that we’ve been forced to repeat the same stories over and over. That’s because the entire Western world, including the U.S. and Latin America, seems to have hit an entropic state, rendering the governments of these countries utterly incapable of ...

Obama offers phony OT increase, Greece, Puerto Rico simmer

WASHINGTON, July 1, 2015 – Just in time to provide some much-needed comic relief, President Obama has just proposed yet another economy- and job-stifling rule, this time opining that the income threshold for the government’s current “overtime rule” should be increased, allegedly to “save” the middle class. How will our Middle Class Messiah accomplish this ...

Grexit likelihood gathers steam, S&P downgrades Greek banks

WASHINGTON, June 29, 2015 – Wall Street opened up sharply this morning, apparently in an optimistic mood but with little evidence to support it. Proof: Just moments ago, Reuters reported “Germany’s Merkel says before the planned Greek referendum is conducted we will not negotiate on anything new…” This builds on yesterday’s gloomy reports—the ones that ...

Euro down, stocks set to tank, Grexit potential looms large

WASHINGTON, June 29, 2015 – The chaos caused by the intransigence of Greece’s Communist-led government boiled over this weekend after Greek Prime Minister Alexis Tsipras announced a snap July 5 referendum in his country on Sunday to determine whether Greek voters would support or turn down the latest iteration of bailout and austerity measures offered ...

ECB, EU prepare for Grexit after Tsipras referendum ploy

WASHINGTON, June 27, 2015 – In “shocking” news that is no shock to the Maven, “talks fell apart between the Greek government and its creditors, and European officials said Athens’ bailout program will expire on Tuesday,” according to news just posted on CNBC. The cause of this latest bit of Greek-Euro mayhem was obvious: Greek ...