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EU saves the day?


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European Union and IMF will inject approximately $1 Trillion into the system to protect the integrity of EURO and to prevent the debt crisis from spreading. Yes, it’s $1 Triiiiillllllliiiioooon……. According to  National Post, if you place a trillion one-dollar bills end-to-end, the bills could stretch from  Earth to the Sun.  That’s an extraordinary amount of money which begs the question where on Earth are they  going to find that kind of money?  Oh yeah, stupid me, they can just keep printing money and exchanging IOWEU between countries. Beside, $1  trillion is only 8% of US national debt which is chump change in the grand  scheme of things. This whole thing about printing money to solve debt issues around the world is just mind boggling, but apparently no body gives a shit.

What’s more mind boggling is the action in the stock market in the past week or so.  It’s like a roller coaster ride.  The fat finger that triggered the selloff on Thursday probably pushed the buy button today to save face. Did you guys also know that GS have zero trading loss days in the last quarter?  That’s 63 trading days of no losses.  That’s unbelievable performance.  Either they got very lucky or they are controlling the market.  We  are definitely living in strange times my friend.

One Response to “EU saves the day?”

  1. May 13th, 2010 at 3:13 am

    Felix says:

    I don’t have a good grasp on economics, but I do know the currency will lose value and inflation will occur. But if all major nations are printing more money, then will not their currencies stay essentially the same relative to each other? What happens at that point? Maybe you can devote another post to this topic?

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