With the world economy getting more and more interconnected, it’s obviously ludicrous to think that you can take Thanksgiving off and ignore what’s going on in the rest of the world. This year especially.For one thing, Europe continues to call the shots for everyone. By the time US markets are open, most fireworks are over anyway, so in a sense, Thanksgiving doesn’t change much, since Europe isn’t off.
But more importantly, Thanksgiving is an important day for the global sovereign debt crisis, as it was Thanksgiving 2009 — when Dubai World said it would default — that the global sovereign debt crisis began in earnest.
It was on November 27 2009 that we first put up a post mentioning Greece, and, well, here we are.
So keep an eye on your computer or phone all day this year. There’s a good chance it won’t be a day to rest.