Never hesitating to become the fated ones
--Berlin
US markets gapped higher this am on more optimism over a resolution of the EU situation coupled w/ a brighter than expected payroll number. About mid-day, however, stocks started leaking and sovereign bonds spreads begans blowing out.
The culprit: chatter that Congressional Republicans were at work to block IMF bailouts of EU countries.
Wow. Should that be true and come to fruition, it would be the first responsible action this group would have taken in some time. Using US taxpayer dollars to bail out the excesses of other countries is clearly unconstitutional.
But I'm not holding my breath...
position in SPX
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1 comment:
The most disingenuous aspect of the narrative about the European sovereign debt crisis is that entire economies will collapse if more resources are not bilked from productive people around the world. This is untrue.
~Ron Paul
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