Merkel says fixing Europe's debt crisis will take "years".
Madame Prime Minister: It will take years??!! That's if you are lucky. If you are not, it might fix itself over a long weekend.
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If you are an equity investor you really gotta ask yourself: What is it that the Bond market sees that you don't? I spent an entire morning earlier this week looking around for short term U.S. Treasury paper without a negative yield... why do you suppose that is?
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The U.S. economy and the American worker simply cannot afford the level of "payroll tax". The "payroll tax" is insufficient to support and maintain the solvency of the U.S. Social Programs. If you have read my older stuff, well, this is EXACTLY what I have been saying since the day I started this blog. It does not matter what you think, or feel, or wish... the numbers matter... and the facts on the ground say that these programs will be cut so deeply that they will resemble "defaults" on promises far more than cuts in benefits.
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And finally... anybody besides me realize that any "bailout" of Europe by the Fed will be at the expense of American Taxpayers?