All is placid in financeland. Stocks in the U.S. and globally have been in a holding pattern since December; bonds as well. Overall economic data—limited though it may be and flawed though it certainly is—shows steady unspectacular growth in the United States
Read moreEurope's Doomsdayers Were Wrong in 2010, 2011, and 2012—and They're Wrong Today
After a pleasant lull over the past six months, panic over the fate of Europe has flared once again. Just weeks ago the elites of Davos exuded confidence that the crisis had passed; the events of the past weeks showed how ephemeral such certainty can be.
Read moreHow Bankers Saved the World From a Euro Meltdown
As Americans went about their lives this past week recovering from turkey, bemused by the latest Herman Cain dramas, the world almost changed dramatically. Fortunately, the largest central banks joined forces to stem the mounting financial crisis—for now.
Read moreEurope’s Economic Crisis: Could Default in Greece, Eurozone Sink Us?
As Americans fixate on the battle for the Republican presidential nominationand the continuing travails of the U.S. economy, the real story in financial land is what is happening in Europe. The issues aren’t new: concerns over the contagion of a default of Greek debt, or Irish or Portuguese or Italian, have been percolating for more than a year and a half. But there is a definite sense of late that these issues are potentially spinning out of control.
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