Let's see, were to begin. Greece is a lightweight on the global economic scene so why is it causing such a fuss? We'll, heavyweights own a lot of their bad debt and the European Union itself is threatened. It is also causing us to take our eyes of our own debt issue - as in "they" stopped buying that debt. China flipped the bird's nest soup at us this week with its reserve requirements and lackluster participation on the Treasury auctions.
And then there's California. Sorry, New Jersey, you are not known for your take-out cuisine. California would be a G-something country if it were a country and that is a big deal. It won't threaten the American Union (USA) but financially it is is big problem.
Bull market in stocks? Perhaps. But the rally we've seen discounted the recovery we've had. If there are real problems ahead then the stock market will react sooner rather than later.
Do you believe there are problems ahead? Go ahead and scare yourself with the MarketWatch gem - our-debt-time-bomb-is-ready-to-go-ka-boom. Be forewarned that the author has a rather dramatic flair - all the time.