@BreakingNews: Dow Jones breaks 13,000 for the 1st time since May 2008 - @cnbc
Got this over twitter. Seems like everything is going bacK to normal right?
About the Greek bailout, 250 billion euros is the high end estimate, but that doesn't seem like its a whole lot. The USA spends that kinda money for breakfast. So what's the big discussion about?
I wouldn't count on the Dow crossing the 13,000 mark as a sign that everything is alright. Stock indexes aren't like a meter to measure the health of the economy by. Without wanting to instigate some sort of argument, there are plenty of people who would say that there is a serious disconnect between reality and the markets right now.
As for saying that €250b is small money because it's relatively little compared to US debt, that is a poor comparison indeed IMHO. The US is not Greece, first of all, in terms of each country's economy, culture, and how their currencies are controlled. Secondly, consider this analogy, $10,000 is small change to a big shot super star but is an absolute fortune for someone who isn't even making enough to cover next months rent.
From where I'm standing, things are not ok because the Dow is up and €250b doesn't seem very much in comparison to US debt (that probably says more about US debt than Greek debt anyway!!!)