German Court Kicks The Euro-Can Down The Road
Germany's Constitutional Court ruled in favor of the Eurozone bailout fund today, further delaying the inevitable demise of the Euro currency. It gives EU central bankers more time to extend the day of reckoning, when there isn't any more money to finance the staggering debts of southern European countries.
German citizens (who still remember hyperinflationary holocaust 90 years ago in the Weimar Republic) are probably pissed off - and rightfully so. The average German knows that printing more of your country's currency doesn't do a damn thing to improve your economy, and it destroy's your wealthy and purchasing power.
More Americans are waking up to the damage that Ben Bernanke and the Federal Reserve hase done, are doing and will continue to do to the value of the US Dollar. But not to the extent of our German cousins, who are a lot more economically literate than Boobus Americanus (aka the average American).
I also wonder how much pressure the US government and the Obama Administration put on the EU and the Germans behind the scenes. Having an EU currency - and global financial system - meltdown less than two months before your election would pretty much tank Obama's chances for four more years. Remember John McCain's campaign back in 2008 when Lehman went out of business and the stock market crashed?
I don't know how much longer Europe will be able to use financial, economic and political duct tape and baling wire to maintain what little confidence there is in the Euro. My short-term trading and prediction record isn't that great... but my longer-term fundamental picks are pretty darn good. I don't know if it'll take several more weeks, months or years for this utopian fantasy to come crashing down... but inevitably it will.
Don't invest in European-related securities unless you really know what you're doing, and you're trading for quick, short-term profits. Get in, get your profits, and get the hell out before one or more of these European markets come crashing down - with the US stock market not far behind.
German citizens (who still remember hyperinflationary holocaust 90 years ago in the Weimar Republic) are probably pissed off - and rightfully so. The average German knows that printing more of your country's currency doesn't do a damn thing to improve your economy, and it destroy's your wealthy and purchasing power.
More Americans are waking up to the damage that Ben Bernanke and the Federal Reserve hase done, are doing and will continue to do to the value of the US Dollar. But not to the extent of our German cousins, who are a lot more economically literate than Boobus Americanus (aka the average American).
I also wonder how much pressure the US government and the Obama Administration put on the EU and the Germans behind the scenes. Having an EU currency - and global financial system - meltdown less than two months before your election would pretty much tank Obama's chances for four more years. Remember John McCain's campaign back in 2008 when Lehman went out of business and the stock market crashed?
I don't know how much longer Europe will be able to use financial, economic and political duct tape and baling wire to maintain what little confidence there is in the Euro. My short-term trading and prediction record isn't that great... but my longer-term fundamental picks are pretty darn good. I don't know if it'll take several more weeks, months or years for this utopian fantasy to come crashing down... but inevitably it will.
Don't invest in European-related securities unless you really know what you're doing, and you're trading for quick, short-term profits. Get in, get your profits, and get the hell out before one or more of these European markets come crashing down - with the US stock market not far behind.
Labels: Ben Bernanke, EU, Euro, Europe, Eurozone, Federal Reserve, German Court ruling
posted by Brian Ochsner | 2:00 PM
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