Agorism
11-21-2011, 01:34 PM
Europe in Crisis: U.S. to the Rescue?
Link to video (http://finance.yahoo.com/blogs/daily-ticker/europe-crisis-u-rescue-183924622.html;_ylt=AgWmbq4PsToIVskQjr_6bjEp2YdG;_ ylu=X3oDMTE1NzRyZGk3BG1pdANEVCBJbmRleARwb3MDMQRzZW MDTWVkaWFCbG9nSW5kZXg-;_ylg=X3oDMTFvcGs0cnBnBGludGwDdXMEbGFuZwNlbi11cwRw c3RhaWQDBHBzdGNhdANibG9nBHB0A3NlY3Rpb25zBHRlc3QD;_ ylv=3)
U.S. markets fell more than 2% Monday on fears over global debt. The Dow was down roughly 300 points in recent trading, and the S&P shed about 30 points.
On this side of the Atlantic, the 12-member bipartisan super committee is on the verge of failing to identify $1.2 trillion in federal budget cuts for the next 10 years. (See: Superfail: Why D.C.'s Fiscal Clown Show May Still Yield Results)
Across the pond, yields on Italian and Spanish debt continue to rest near 7% — levels never before seen in the history of the euro zone — while worries over a breakdown in interbank lending remain a serious concern.
"All the talk we hear of widening Italian/German bond yield spreads and rising interbank lending costs may seem a bit arcane to American investors, most of whom are more focused on the state of their own economy. The euro zone crisis is, however, of critical importance to investors all over the world," writes Dr. Jerry Webman, chief economist at OppenheimerFunds, in his weekly
Link to video (http://finance.yahoo.com/blogs/daily-ticker/europe-crisis-u-rescue-183924622.html;_ylt=AgWmbq4PsToIVskQjr_6bjEp2YdG;_ ylu=X3oDMTE1NzRyZGk3BG1pdANEVCBJbmRleARwb3MDMQRzZW MDTWVkaWFCbG9nSW5kZXg-;_ylg=X3oDMTFvcGs0cnBnBGludGwDdXMEbGFuZwNlbi11cwRw c3RhaWQDBHBzdGNhdANibG9nBHB0A3NlY3Rpb25zBHRlc3QD;_ ylv=3)
U.S. markets fell more than 2% Monday on fears over global debt. The Dow was down roughly 300 points in recent trading, and the S&P shed about 30 points.
On this side of the Atlantic, the 12-member bipartisan super committee is on the verge of failing to identify $1.2 trillion in federal budget cuts for the next 10 years. (See: Superfail: Why D.C.'s Fiscal Clown Show May Still Yield Results)
Across the pond, yields on Italian and Spanish debt continue to rest near 7% — levels never before seen in the history of the euro zone — while worries over a breakdown in interbank lending remain a serious concern.
"All the talk we hear of widening Italian/German bond yield spreads and rising interbank lending costs may seem a bit arcane to American investors, most of whom are more focused on the state of their own economy. The euro zone crisis is, however, of critical importance to investors all over the world," writes Dr. Jerry Webman, chief economist at OppenheimerFunds, in his weekly