Off on another European Vacation

Posted: November 16, 2011 in Uncategorized

Ellen Griswold: [Ellen opens door, seeing there is no bathroom] Clark, there’s no bathroom.
Clark Griswold: Honey, I’m sure Europeans go to the bathroom.
[Clark opens door to his left to find another closet with a mattress inside]
Clark Griswold: … Maybe they don’t.

And here we go again, another day and more bad news out of the EuroZone. Now I am sure Clark Griswold and family would disagree but it seems that Europeans do in fact go to the bathroom, just ask any investor, they will tell you how much Europe has dumped on them over the last few months. The tug-of-war between what’s going domestically and what’s going on in Europe has investors at their wit’s end.  Markets rallied a tad with the thought that the Fed and the ECB would coordinate their efforts  and come up with a solution to stem the crisis. However stocks took a leg down today when Fitch signaled trouble for US banks if EuroZone issues worsened. All in all more trouble out of Europe means more trouble for equity markets and the cycle continues…

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