Greece back on brink, IEA projects US oil bonanza and a betting on a grand fiscal bargain!
We ask Yannis Palaiologos, a journalist in Athens, if Greece is on the verge of new elections all over again. Greek debt projections have been revised upward partly because the Troika bailouts have added to the debt of the country, according to the Financial Times. Yannis talks about the sustainability of Greek debt, as the country creeps towards its sixth year of economic contraction. Then, we talk to Peter Tchir, founder of TF Market Advisors, about what the US's energy outlook means for the economy. Plus, the value of global equities dropped a trillion dollars after Barack Obama’s re-election, according to Bloomberg. Money managers and investors say the drop overlooks positive economic news and a likely deal on the Fiscal Cliff. Peter Tchir discusses the impact of tax policy and the Fiscal Cliff on stocks and bonds.