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Thursday, July 01, 2010

Nervous Markets

The markets displayed nerves today, ie indexes fell, as a result of disappointing Chinese financial data that showed a slowing of growth, and a warning that Moodys may downgrade Spain's debt rating in the coming months.

Meanwhile there are riots on the streets of Athens, as people protest about government plans to impose austerity measures.

My advice to the protesters is to focus your anger (peacefully I might add) not against your government's austerity measures, but against your government's decision to remain in the Euro; which is preventing the government from using monetary policy to ease the debt crisis.

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