GETTING RID OF GREECE ANXIETY…
I recently wrote an article about the importance, or lack of importance, of Greece to the U.S. economy. First off, Greece is a wonderful country, having contributed a lot to modern life. Things like democracy, Western philosophy. Big things. But one stat I included in the article sums up their impact on the U.S.:
* Annual U.S. trade with Greece is about one day’s worth of China/U.S. trade
Total annual imports and exports between Greece and America are about $1.821 billion. Total annual trade! Total U.S./China trade for the same year, 2014, was $590 billion. Almost 324 times more trade activity with China!
So forget that anxiety being fed to us by the media. The worse it gets over in the Euro zone the better our economy and market looks to investors. And, since the markets are ultimately a popularity contest, their problems could boost our strength.
The bigger issue could be China’s current problems. I’ll leave that for another post.