ozcutty

Dollar Doldrums Will Soon Be History - Barron's

I'm with Iqbal, the credit situation in Europe has the potential to be worse than the US. Irish property has crashed, Spanish property consists of a huge number of holiday homes owned by Brits which will have to walk away. My judgement is that the US housing downturn will bottom out while the European problems will be exposed as much worse. Europe also have the problem of lots of different property markets but rates set centrally. Of course rates are normally set at the behest of Germany and France, regardless of how the other member nations are doing.