Madrid Arrival- Day 1

The streets of Madrid are quiet.  Traffic was non-existant at noon.  The cab ride from the hotel was rather American.   As I sat in the cramped cab,  I could easily recognize the band that was singing.  No it was not Juanes, Iglesias, or even Shakira, it was Smashmouth.  I had to ask (in Spanish), are you a fan?  My cab driver, Luis said he likes them and a lot of other American singers.  He explained to me that we were his second passengers in over 3 hours.  I saw about 40 cabs waiting for 3 groups of people.  While I´m used to the scene at JFK when one waits over 40 minutes to an hour for a cab, in Madrid today, it was the other way around.  Our short ride was filled with conversations on the sights, music and eventually the economy.  The unemployment is well over 20%, but the people that are working are not making enough.  He can afford to go to the plaza to have wine and tapas only once a week.   That is a big part of enjoying life for him.  I do not believe he was exaggerating or trying to get a bigger tip.  I could definitely tell the sincerity in his voice and body language.  I look forward to exploring and meeting more people and learning about their opinions on life, current situation, government´s role, and their outlook.

Edward J. Moya is the Chief Market Strategist for edmoya.com, an educational website for foreign exchange and commodity traders. He has over 15 years of investment industry experience in forex, stocks, options and futures. At edmoya.com, Mr. Moya writes daily currency and commodity analysis and has authored numerous articles on trading using both technical and fundamental analysis for major financial publications. He is a contributor of technical and fundamental analysis in currencies and commodities to SFO, Market News International, and Forex Factory.

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