“Susie can you spell PIGSTY?”
I: Italy or Ireland, depends which country you live in.”
Y: yUS, spelled with a silent Y”
“Susie I wish all our children studied the IMF spelling book as hard as you do. Here’s a EURO$ for lunch, spend it quickly.”
Here’s a nice little riddle.
Germany is to Greece
As China is to the USA.
(Hint: It has to do with import/export balances and relative current account deficits.)
Here’s another nice little ditty.
The EU is trapped. It can create a structured default for Greece,
or it can devaluate its EURO currency.
Guess which one has been chosen?
If the EU$ dropped to or below parity with the US$
The US$ will rise.
If the US$ raises sharply, guess what happens to the stock market?
IT DROPS SHARPLY.
Welcome to a double dip in the pigsty.