It's a game I have to play
You and I in silence
With nothing else to say
On the back of yesterday's post, headlines this morning find euro bureaucrats committing to massive bailouts of consumers and producers as they face virtual margin calls as energy prices spiral higher.
These bailouts are forms of stimulus--subsidies that work against efforts to reign in higher prices.
Still wrapping my head around how this spills over to the US. The obvious consequence is an even strong USD vs the euro.