The problems in Europe are closer to your wallet than you think, says David Weidner. In just six...

|By:, SA News Editor

The problems in Europe are closer to your wallet than you think, says David Weidner. In just six months, our personal wealth has gone from having an indirect connection to Europe to being held hostage. We're already seeing tighter U.S. credit and less liquidity for stocks and bonds due to the crisis. To make matters worse, banks are starving for cash reserves, meaning they’re unlikely to lend more, or, as you may have noticed - pay out interest on your deposit accounts.