Hello Doughty....I just read that the Banks in France own 350 Billion of Italy’s debt...another fear is a run on the banks....which would have an affect on the US.
This whole market is more than wobbling....S.Korean also jumped to his death after loosing much for his clients. This is getting really nasty now....how long do you think this will keep shaking?
First of all, I am not an expert.
My gut tells me this will continue until we get a president and congress that are willing to implement reasoned free market principles, and even then until the mortgage screw-ups by the Left have been fully eradicated.
This is going to take a while.
We have slowed down the process by interrupting the free market. We have slowed it further by moving jobs overseas. We slowed it even further by giving jobs to foreign nationals.
So far, we have done about everything possible to create, complicate, and extend the mess we are in.
Both parties contributed. Both parties are complicit in the failure to address it head on.
I am not convinced this is going to get better by November 2012, and I am not convinced we’re ready to replace Obama with someone who understands what needs to be done, well enough to effectively counter what has taken place.
Well meaning people, are fully capable of making this situation worse, and I have grave concerns regarding some of the people who are being idolized right now.