This morning I checked the premarket data to see what is driving or will be driving the market in the morning. And I found an article on CNN Stocks: Optimistic about Europe … for now.
So investors are optimistic this morning about Europe leaders who are going to meet today and later on they should announce a “comprehensive plan”.
Strong words. Really.
European government heads will be meeting Wednesday, after pledging to unveil a comprehensive plan to tackle the region’s debt crisis.
An official announcement isn’t expected until later in the day.
“We all expect the plan is going to happen. The question is — is it really going to be big enough to make a dent?” said Mark Lamkin, founder and president of Lamkin Wealth Management in Louisville, KY
What do you think this plan would be about? What are those optimistic investors expecting? Are they that naive to think that the leaders meet and suddenly the debt disappear?
All they come up with is providing guarantees to irresponsible banks who were buying bad bonds (and possibly knowing it) and now they ask the Governments for bailout, but who will be those paying? You guess it, the tax payers.
And I cannot belief that there are some investors out there who believe in this and are optimistic about it.
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