Greece

In the same conversation as the Dubai meltdown, Greece has been mentioned by many as the economy on the least stable footing.   However, Greece does not have a family member willing to pony up billions to keep things in tact.  It appears that much of their hope lies with the IMF. However, the IMF might not have the financial wherewithal to do so.

The idea that they might be in trouble is one thing, the fact that they are falsifying data is an entirely different deal.

In a damning report published as the eurozone grapples with its worst financial crisis since the euro’s launch in 1999, the Commission said figures from Greece’s were so unreliable that its budget deficit and public debt might be even higher thangovernment had claimed last October.

FT.com / Europe – Greece condemned for falsifying data.

This jobless recovery is troubling.   It is an interesting time in history that will be looked back at.  Can an improvement in housing and a boost in portfolio values due to a pumped up stock market pull us out of this period?  Will this sustain the economy until jobs are finally added to the mix? We shall see.

Unfortunately, there’s been very little evidence of a solid recovery. Sure, the financial crisis seems to be past, and the economy didn’t collapse. After the turmoil that followed Lehman’s failure, the government’s quick actions to shore up the financial sector have convinced people that the government won’t let another big bank fail. Consequently, the sheer terror we experienced last fall has faded to mere paranoia.

via Beware the Second Leg of the Next Great Recession.