Looking through a Greek crystal ball

When the Dow suffered a 1000-point nosedive some experts pointed a quick finger at Greece's financial insolvency and social disorder. I'm no international financier, but it seemed odd that such a small Mediterranean nation could so affect the U.S. markets. Are we so fragile? Comparing CIA data on Greece and the United States would say no. Greece's population (10.7 million) is roughly equal to Ohio's, and only 3-percent that of the United States. Geographically, Greece is about the size of Alabama. Their 50,948 square miles is miniscule compared to the United States' 9.28 million. Alaska is 13 times larger than Greece and seven U.S. states exceed its population. Greece's GDP is about 2-percent of U.S output, a drop in the proverbial bucket. Thirteen U.S. states produce greater economic activity than Greece generates. Their exports are a fraction of our own and only 5-percent of the total Greek exports find their way to American shores ($106.8 million annually). Our exports to...(Read Full Post)