All kidding aside, does anything matter less than the rolling European debt crisis, now into Year Six and showing no signs of letting up? Or does anything matter more? To me, this is more a humanitarian crisis than a financial crisis at this point, more of a social story than a market one.
Is contagion still a real fear, given how long European banks and institutions have had to prepare for whatever is going to happen in the southern sovereigns?
If a Euro bank gets Suge Knighted by Greece at this point, don’t they kind of deserve it? Will there be any effects in the US beyond a revenue hit for multi-nats and whatever impact there is in the currency market?
I don’t have the answers to these questions, but they’re worth considering.
My thoughts on how this whole thing should eventually play out:
A German and Greek walk into a bar. “Put it on his tab,” the Greek says. “No problem,” the German says “I own the bar anyway.” The End
— Downtown Josh Brown (@ReformedBroker) February 5, 2015