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It Is About To Get Ugly: Oil Is Crashing And So Is Greece

The price of oil collapsed by more than 8% on Wednesday, and a decision by the European Central Bank has Greece at the precipice of a complete and total financial meltdown. What a difference 24 hours can make. On Tuesday, things really seemed like they were actually starting to get better. The price of oil had rallied by more than 20% since last Thursday, things in Europe seemed like they were settling down, and there appeared to be a good deal of optimism about how global financial markets would perform this month. But now fear is back in a big way. Of course nobody should get too caught up in how the markets behave on any single day. The key is to take a longer-term point of view. And the fact that the markets have been on such a roller coaster ride over the past few months is a really,… Read More …