Is Greece The First Domino?

Global financial stability is something we all would love to have, but it appears as though achieving that may not be easy.  The U.S. economy has been gaining jobs since 2008, the stock market has made major gains and companies are spending more too.  Unfortunately, a lot of this economic upswing is mired in a shaky and questionable foundation.  While some say we’re still in a recovery, there are some surprising statistics which will make you reconsider that.  In the first quarter of 2015 we had twice the number of businesses close as we did in the first quarter of 2014.  Furthermore, companies, like Caterpillar, are continuing to see declining global retail sales.  Caterpillar has gone 28 months so far, when the 2008 crisis hit they had seen 19 months of declining global retail sales.

Meanwhile in Europe the dilemma of Greece and whether it will default or repay debts is looming big.  The deadline for them accepting the loan terms from the EU was this past Friday, May 1st.  The terms however haven’t been settled yet and so negotiations are still going on and hopefully a solution will be agreed upon before May 12th when Greece has to pay back the IMF.  Dawn J Bennett has been tracking this issue closely lately and is warning investors that they need to find a safe place for their liquid assets to weather the potential storm.

Germany and the EU have stated that if terms cannot be agreed upon with Greece then perhaps Greece leaving the EU may be the best solution.  The reasoning behind this is Eurozone contracts currently don’t hold much validity and European bonds are trading at a negative yield therefore only central banks are buying them.  The U.S. currently believes that Greece leaving the Eurozone poses a dangerous risk to the global economy which is unnecessary.  If Greece does cause the chain reaction that many financial experts are afraid it might, then investors need to be prepared.

As an investor you won’t be able to rely on anyone or any institution to save you if this financial mess comes to fruition.  Central banks are so entrenched in the current markets that they have no easy way to carefully remove themselves without causing problems.  Then there are Wall Street banks which are once again taking unnecessary risks, but are still too big to fail.  Dawn J Bennett recently brought up the matter of whether human happiness is the ultimate goal.  She quotes Aristotle who said “Happiness depends upon ourselves”.  In this era of financial instability and turmoil it certainly seems like what Aristotle said is absolutely true.

Bennett Group Financial Services LLC, based in Washington, D.C., is a comprehensive financial services firm committed to providing opportunities to clients’ as they seek long-term financial success. Its customized programs are designed with the potential to help grow, lower overall risk and conserve client assets by delivering a high level of personalized service and skill.

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About Dawn Bennett

Dawn Bennett is CEO and Founder of Bennett Group Financial Services. She hosts a national radio program called Financial Myth Busting

She discusses educational topics and events in the financial news, along with her thoughts on the economy, financial markets, investments, and more with her live guests, who have included rock legend Ted Nugent, as well as Steve Forbes and Grover Norquist. Listeners can call 855-884-DAWN a as well as take podcasts on the road and forums for interaction.

She can be reached on Twitter @DawnBennettFMB or on Facebook Financial Myth Busting with Dawn Bennett or