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A Couple of Articles on Europe


Parsad
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The Euro continues to fall versus the US$; it is now below 1.25. Also, yield on 10 year US Treasuries is at 1.71%, almost a new low (1.70%). Currency markets and bond markets are not optomistic.

 

Commodity stocks, for the most part, have been hit pretty hard.

 

US stocks don't seem concerned at all; they are down less than 10% after hitting multi-year high earlier this year.

 

Lots of interesting things swirling around...

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I'm reminded of the American colonies during the Articles of Confederation.  The lack of central power makes it impossible to get through a crisis.  Or put differently, on a long enough timeline the lack of central power is the crisis.  Its tough to see all these different countries giving up some of their sovereignty and money to back up the weakest links and federalize their debt obligations.  But I can't see any other sustainable out.  They had better all hang together or they will definitely hang separately.

 

Excellent comment!  I couldn't agree more.  Cheers!

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