Don't Buy It

The rumor that the German government is considering endorsing a new bailout package for Greece has sent world stock markets soaring. Don't buy it. All this means is that Germany is willing to throw good money after bad. Along with the German government's ridiculous decision to abandon nuclear energy by 2012 (why not get rid of electricity as well?), the German government continues to live in it's own island of self delusion. Stocks should have a nice run today, but, after that, watch out.