The Merkel-Sarkozy Bailout Plan: Europe’s Markets on the Morning After

By: Francis Cianfrocca (Diary)  |  October 31st at 09:52 AM  | 

When you’ve been on the edge of having a convulsion for months, you could be excused for clutching at anything to convince yourself at least temporarily that you’ve turned the corner. Today, this is looking like a fair characterization of last week’s big relief rally at the euro “rescue” plan that was “agreed” in Brussels. Markets are trading significantly lower this morning, and much is | Read More »

Europe Kicks The Can; Buying Time With Borrowed Money

By: Repair_Man_Jack (Diary)  |  October 27th at 02:30 PM  | 

“No one should take for it for granted that there will be peace and affluence in Europe in the next half century,” Chancellor Merkel. (HT:CNBC) Ka-Blam! The Eurozone is saved. They’ve found just the right drug cocktail of financial bailouts. The markets are all a screaming buy!1!1.(/sarcasm off) If only this were the truth. The reality here is that the Europeans will destroy a bunch | Read More »