The global market meltdown has continued overnight, as sharp falls in Asian market prepared the way for three to four percent declines in Europe. The euro has fallen well below what as recently as a week ago looked like firm level of support at $1.35.
The political and economic incompetence of Europe’s leadership is the chief culprit. One has to look back to the 1930s to find such a sustained period of muddled thinking and dithering in the face of oncoming catastrophe.
Read Full Article »