The American ego has been very hurt with the ratings downgrade, so they are trying to find scapegoats across the pond. Why not France and why us.....the question Maria Bartiromo has been asking every guest on her show !! The answer....US politicians are a bunch of jokers who have no respect for simple economics. The European politicians have taken the downgrades and the pain of roits and strikes.....but what does US do.....just keep printing dollars !
When markets rise, it is because of the US and when they fall, it is because of Europe.....been hearing that everyday on CNBC since February. How come sub prime, Bear Strearns, Lehman, multi trillion dollar deficits and a downgrade has had no impact on markets, while Greece, Portugal, Spain and Italy are the only reason for the markets to fall ???
How much of recent volatility is due to George Soros unwiding his funds leading to margin calls for others and selling from program traders, I wonder ? Guess markets will remain volatile till the American's come to terms with thier own problems instead of pointing fingers at others.
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