[quote=ecstacy]US Super Committee fail to agree on deficit measures. It may get worse before it gets better..US GDP to shrink next year and year after due to the automatic cuts in US spending that have now taken effect...meanwhile China declared it is focused on helping itself before helping others...Global stocks plunge further...
More analysis
http://www.reuters.com/a...e-idUSTRE7AK0AF20111121[/quote]
A "disastrous" German bond sale yesterday sparked fears that Europe's debt crisis was starting to threaten even Berlin. The German debt agency could not find buyers for almost half a bond sale of 6 billion euros...on the flip side it could give Berlin cause to re-examine its refusal to embrace a broader EU solution...
Italian bond yields' have jumped to levels widely seen as unbearable in the long term, despite intervention by the European Central Bank to buy limited quantities...
A special report by Fitch Ratings suggested France had limited room left to absorb shocks to its finances, such as a new downturn in growth or support for banks, without endangering its triple-A credit status...
The very public jousting over what to do next underscores just how divided European leaders are on how to resolve the turmoil which has accelerated to engulf big countries such as Italy and Spain, and pushed out political leaders in Rome and Athens.
"We don't know where this is going," said Richard Jeffrey, Chief Investment Officer at Cazenove Capital Management in London. "Do not think the political leaders know where they are taking it."
Let it bleed!!!!