'cause I gotta peaceful easy feeling
and I know you won't let me down
'cause I'm already standing
on the ground
- The Eagles (1972)
Ireland won't take it then they will. But uh-oh, now Portugal and Spain are waiting. Will there be enough money? How much money is there in the EU, anyway?
Charles Payne wrote this morning:
"When it's our turn where will the bailout come from? I know India would like to pick up the pieces at fire sale prices, look how much they overpay for the assets of their former colonial master. China can't wait to take a victory lap on our carcass, and Brazil would samba through the night to get a piece of the action as well. But, the thing is, combined all the hot economies of the world couldn't bail out the United States"
In other words, there is not enough money on the planet to get the job done. So why oh why is the dollar rallying? Is it still the safe haven?All that posturing out there to replace it as reserve currency seems to be a lot of hot air.
This airport scanning/groping thing is really worrisome, too. Does the government really think it knows best? And do scanners pick up bombs shoved where the sun don't shine? Or even plastic explosives? They sure do pick up urine bags on bladder cancer survivors. Watch out! The terrorist will pee on you!
They seem to be doing their best to squash business at every turn, from taxes to regulations, all in the name of recovery and/or safety.
I am torn between believing in the power of the USA to wake up and fix things (hence the world still beating a path to our door) and blind politicians who cannot see what is happening.
Let gold come down to my buy stop.