Skip to comments.Italy Tanks 5%, As PIGS Turn In Another Huge Down Day
Posted on 05/06/2010 9:08:26 AM PDT by blam
Italy Tanks 5%, As PIGS Turn In Another Huge Down Day
May. 6, 2010, 11:54 AM
Greek debt contagion continues to wreak havoc on European markets today, with several PIIGS indices getting whacked today.
Italy's FTSE MIB, down over 5%:
Spain's IBEX, down over 3%:
(Excerpt) Read more at businessinsider.com ...
What’s up with Ireland? I thought they were the Euro leader in economic growth.
blam, thanks for your economic posts, they are very informative.
Man those charts look eerily familiar. I wonder why?
I have 3 positions in gold. Bullion on hand. SPDR gold stock. An undeveloped gold mine with proven reserves.
It was smoke and mirrors. Any country that relies on the EU to build its main roads (e.g. the link between Dublin and Dublin airport) is not in any sense a first-class economic power.
One factor against a bailout of Greece is that Spain, Italy, and the rest would soon follow, and the cupboard would be bare of any bailout money for them too.
Just an amatuer’s investment advice: You might want to steer away from SPDR gold. It is my understanding that it is just paper traded and the physical gold is not on hand. Several ETF’s out there that have the physical gold in the vault.
Gold and the US Dollar/Bonds seem to be the only safe haven as the markets disect Greece and the other PIGS.
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