Greece’s increasingly likely exit from the euro looks like it will be the financial world’s headline worry for at least the next week or so, and it’s hard to imagine stocks in Europe and Asia making much headway until the divorce is official. U.S. markets, on the other hand, ever oblivious to the events in the real world, particularly in Europe, may be able to meander sideways as the inevitable crisis unfolds. As for Greece, its troubles have been gestating for so long that only the news media could find the predictable ending interesting. Less predictable, and perhaps more dramatic, will be the way the Greek people themselves react when they realize what it means to live without credit or buying power. In the not-so-distant past, they rioted in the streets with less provocation.
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They simply follow other countries like the USA and Japan into QE! ‘Quite Easy’ really!