The Euro Crisis is emerging rapidly. The 2Yr BTP Italy debt has jumped 150bp and is now wider by 2.50%. The ECB has been intervening BECAUSE as we have warned, there is NO BID. Interest rates for Italian debt have almost doubled in a matter of days. Who in their right mind will buy government debt when there is such uncertainty? I have warned that interest rates in Europe can skyrocket beyond anyone’s imagination.
The Euro is now down to 115 zone where critical support now lies. The dollar bears are getting slaughtered as usual for they have had their head in the sand and cannot see anything come from outside the country.
The absolute ONLY way to SURVIVE is to maintain a GLOBAL PERSPECTIVE. Yes, we schedule WECs around the cycles to make sure they are more interesting. Singapore will be no different. Welcome to the Euro Crisis, the fall of the West, and the rise of Asia.
Attendees will be receiving a very special report on the Rise of China....
- ^ « Euro Crisis Unfolds as Politics in Italy Views they are Now an Occupied Country (www.armstrongeconomics.com)
- ^ Private Blog the Euro Crisis » (www.armstrongeconomics.com)