armstrongeconomics.com
Our Energy models are warning that the European markets are getting
overdone. We have to pay very close attention to Europe for the share
markets may not advance and this could send even more capital fleeing to
the USA.
Everyone has been buying the bunds and the Dax inside Europe assuming
that when the Euro cracks the will get Dmarks. But Merkel is not ready
to dump the Euro. In fact, it may be over her dead body. She believe
that Germany needs to Euro to export to the rest of Europe. The fact
that her austerity is killing Europe she does not see as the issue. So
there is no way to make her blink. The only way to do that will be to
sell Germany and buy the dollar assets. Caution is the word. We may see a
different patter unfold entirely.
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