Just a quick note for today.
Short the euro, and make a buck - David Weidner's Writing on the Wall - MarketWatch
If you're not paying attention to the economy in Europe, it may get a lot worse very fast ... and that's not going to help the US. Basically, a lot of people are expecting Greece to default on her debt. Much of that debt is held in various European countries, including Spain and Portugal, two countries who are also struggling.
The US dollar works because it's a single currency across a single economy. The Euro is a single currency spread across multiple economies and without central coordination, it may be hurt very, very badly.
Those are storm clouds on the horizon and they're not going to help anyone.
That would be fine for the UK with its own separate currency across a single economy except that it relies completely on trade with Ireland, France, Germany... that's why the ECB will bail out Greece whatever happens.
ReplyDeleteThe only safe place for your money right now is in gold or cash.