Yes I have been thinking along the same lines. The Dow continues to amaze. It is now about 95% of its all time peak of 14,195. Our flimsy ASX is only 69% of its peak. So we are not as extreme as the Dow, given the world's issues. The European debt is a conundrum. They think they will solve the problem by austerity, but this MAY only stop them borrowing new money, but the interest mounts up, and when will gross debt get paid off? They need huge growth to get back to reasonable debt levels, but where would that come from in Greece? What goods/services do they produce that other nations want heaps of? I think they are well and truly stuffed. As for the USA, well they are delusional too in that they keep deferring hard decisions about raising taxes to repay the debt. I don't have any answers, but yes, their stock market still goes up. Interestingly China's stock market has been pretty dismal for over a year yet they have the strongest growing large world economy. Go figure. That's markets for you I guess!!
