Topic: How To Invest

What is Pat’s commentary for the week of November 8, 2011?

Article Excerpt

I’m impressed at how well the stock market has held up in view of the relentlessly downbeat media coverage of the Greek debt drama. Maybe this means the market is seeing things more clearly than the media. Note that I refer to it as a drama, rather than a crisis. A crisis is something that occurs around the time of a turning point, for better or worse. All along, the Greek financial situation has been more like a drama, which you could define as a group activity aimed at bringing about a desired action in another group of people. When the Greeks invented drama 2,500 years ago, the actors and others involved aimed to entertain and inform the audience, and possibly get some money in return. The aim of the politicians, bankers, unions, civil servants and other players in today’s Greek debt drama is to entertain audience members and inform them about the awful threats they face if outsiders quit financing…