Why Wall Street Secretly Loves The European Crisis

One of my predictions for 2012 was that Wall Street and the financial markets would begin to ignore the European financial crisis, where Greece and possibly others essentially are having a hard time paying all the money that they’ve borrowed throughout the years.  Last year the market would get hammered on days where anybody expressed a smidgen of fear of something bad happening.

I thought that the dust would settle and that Wall Street would move on.

I was wrong.

For a while in the beginning part of the year, the news about Europe was pretty quiet.  Wall Street did actually shrug off a lot of news, but would still have the occasional freak out about Europe.  In the last couple of weeks, the news is suddenly back out and Wall Street has been freaking out in earnest once again.

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