June 29, 2011, 12:11 a.m. EDT
The most important point in market history
Commentary: Worlds collide in an indebted universe
By Todd Harrison
NEW YORK (MarketWatch) — I would like to start today’s vibe by making a statement: I want to be bullish in here.
But I will follow that with an old-school axiom: Hope is not a viable investment vehicle.
We’ve dutifully weighed both sides of the market ride and last month offered that our trading compass pointed to S&P 500 (and we got pretty close). Still, we’ll chew through the macro dew one more time, for this is perhaps the most important juncture of the year—if not, and I’m not prone to hyperbole, history.
Yes, history.
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If Greece is deemed a “credit event”—if it defaults (it owes roughly €26 billion by the end of August), it will trigger a chain reaction not unlike what we saw with stateside financial institutions a few years ago. In this case, global investors will be much quicker to connect the dots from Greece to Germany to European banks to US financial institutions to ... BAM! Right here, with you and me.
Full story: http://www.marketwatch.com/story/the-most-important-juncture-in-market-history-2011-06-28
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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