Greece Poised to Leave Euro
Here we go again… Greece could leave the euro-zone within the next six months as Greece is in its fifth year of recession. If Greece does leave the euro-zone, many will receive a massive haircut on the loans made to Greece. In addition,, hopefully, the Greeks will look at Iceland as the model to follow. They certainly have the natural resources to make a comeback very quickly on their own.
China’s Yuan Hits Record High
At nearly 6.26 to $1.0, China’s currency hit a record high against the US dollar. This marks the highest level since 1994 when China launched its modern foreign exchange market. So, what does this mean? Expect higher prices at Wal-Mart. Or maybe, they believe Romney, who has been bashing the Chinese for not floating the Yuan, will win and want…
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