Oil to $84 on OPEC cuts
OPEC has cut production so the price of oil is up and the stock market is too, though it mostly seems to be inflation at work rather than actual improvement in jobs or the world economy. That the Greeks narrowly rejected (narrowly) dumping the Euro has been taken very optimistically by investors. Eventually they'll realize that the Greeks still owe $427B or so and then start doing the math on a bailout that avoids the sort of austerity which will lead to civil war. Oh, and the Greek power companies still haven't paid for their fuel oil so the lights might be going out soon in Athens and the rest of the country. That sort of thing typically causes unrest. The Greek collapse, and the expected Spanish unrest, will be good case studies for the costs of austerity vs bailouts and might be interesting for academic reasons if nothing else. I wonder if unrest in Europe will impact the US presidential election results?