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The euro is getting slammed. My wife and I was in Spain a few weeks ago and the euro was worth $1.18 this morning it's trading at $.89....Market is down today, but more from concern and not a direct result of, IMO.
Not sure how it will ripple though, depends on how it affects the bigger economies in Europe first.
The whole western economy is a house of cards built on debt, financial gimmicks and shell games etc. With all the computer stuff and "financial instruments" nobody can really track what's going on. The more systems that are built to handle complexity the more complexity there is. A lot of financial sector doesn't even know where a lot of money/debt is (see excellent movie "Margin call" ). Business people rely more and more on computer "models" they don't understand and they end up wrong (they were a factor in 2008 meltdown). The computer people cant keep up with the business/legal changes, acquisitions, cyber attacks etc. Things are waaaaay too complicated to monitor and keep under control. Heck NATO countries aren't even making their minimum % of GDP quotas put they want to poke Russia and others in the eye. Civilizations end ugly. Wealth/asset exhaustion, complexity, pronounced self interest etc are symptoms. We have all the signs merging in a cascade.
Some guys see the glass half full. Others see it half empty. I'm betting you're a half-empty kind of guy, Saran.
The euro is getting slammed. My wife and I was in Spain a few weeks ago and the euro was worth $1.18 this morning it's trading at $.89....
Correct.You are looking at both sides. The Euro is not actually even now at it's low for 2015- it is at $1.12 right now and got as low as $1.05 in March.
...diseases like Ebola being allowed over border ... while everyone worries about the Kardashian rumps....