Sunday, May 9, 2010

Scrambling in Europe

Word has reached Nixon via Drudge and Bloomberg that the European Union is trying desperately today to unveil and have in place a emergency Euro support fund today before the Asian Markets open later on today here.

Its a bad sign when you have to prop up your own currency with a support fund, as well as prop up one of YOUR MEMBER NATIONS. Nixon thinks there is a lot more behind the scenes stuff going on with the economy since last Thursday. Nixon recommends WWW.JohnGaltFla.Com as a good reference site. John has some pretty good ideas from the technical chart side of the markets.

Europe is just the starting point Nixon is afraid. There is a write up today over from Drudge on a Moody's article talking about a possible default in US debt in 2013 or soon after if we don't back away from the debt fueled insane spending of the Obama Administration and return to fiscal conservatism asap. Perhaps Senator Bennett, err, soon to be ex Senator Bennett of Utah should have learned that lessor earlier. Here is to conservatism!

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