The stock market did rally over the past couple of days on stories the EU had a very large
bailout plan in the works to encompass Greece and its attendant weak sisters. This evening
Germany's finance chief Herr Schauble pissed all over the general idea and pointedly insulted
the White House for entertaining "stupid" notions about how the EU should proceed. Now
both sides have thrown down the gauntlet and without rapid repair, US - Germany relations
will tank further than they already have. The indirect attacks on Geithner may disturb the markets
in the days ahead as equities players liked the idea of a grand scheme of some sort re: the EU.
Since there are many sites and blogs out there which relish international politics, I am going
to leave this fertile new source of conflict to them to ponder and return to more basic economics
- Peter Richardson
- Retired chief investment officer and former NYSE firm partner with 50 plus years experience in field as analyst / economist, portfolio manager / trader, and CIO who has superb track record with multi $billion equities and fixed income portfolios. Advanced degrees, CFA. Having done much professional writing as a young guy, I now have a cryptic style. 40 years down on and around The Street confirms: CAVEAT EMPTOR IN SPADES !!!