The situation in the Eurozone is fluid to put it mildly. Spain continues to struggle financially as its banks hover over the abyss of insolvency, ominously watching their short term (6 month government bonds) borrowing costs triple Tuesday.
European business activity fell in May, nearing a 35-month low, according to a survey by Markit. Its survey, based on European manufacturing and service sectors, fell to 45.9. The euro fell to a 22-month low against the dollar in response. Disagreement at Wednesday’s summit between European leaders about how to solve the dilemma did nothing… Read More »
Thanks to the voters who put Obama in the White House in 2008 and Democrats in charge of Congress in 2006 elections, the hard-line left has been able to determine the course of America over the past 3.5 years. In the 2010 election a majority of voters issued a restraining order on the runaway leftists who… Read More »
U.S. Federal Reserve Chairman Ben Bernanke has reached out to Europe in what is being mischaracterized across America as just another European bailout. Bernanke realizes the U.S. Congress would never allow the Federal Reserve to put the U.S. Economy at further risk by directly bailing out the European Socialists, in which we are already exposed… Read More »