It’s almost psychotic, and quite manic. The market is up one day and down the next, and sometimes up and down in the same day. It’s as if the fact that U.S. companies are doing well is insignificant compared to eco-gyrations in Europe.
While it makes me scratch my head, it also makes me happy. Happy? Well, sure. When the market dips, I can buy stock very attractively. If the stock was attractive before the dip, it’s downright irresistible when the price goes down. And the price goes down not because the stock is less valuable, it goes down because of global perception, or, perhaps a better descriptor: media global perception.
If Europe wants to be be a global player, it really needs to have a tied-together economy based on the euro. The United States of Europe makes sense in every way, except for pride in one’s individual country and resulting patriotism.
If Europe wants to take a page from our book, U.S. states all have identities (if you want to see raw patriotism, go to the Oklahoma vs. Texas football game, or should I mention Oklahoma vs. Nebraska?)