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Wall Street Breakfast: Must-Know News [View article]
The future is worse in Europe. If the EU doesn't bail out its eastern European neighbors ( I'm not suggesting they do - I'm again' bailouts) the IMF doesn't have enough money to cover the bad loans held by Western European countries. Western European losses will be staggering. It will crush W. European lenders.
We are seeing a run of financial dominoes with no end in sight.
Here in the New World, commercial real estate and automakers are teetering on the edge of the cliff. Hang on and keep your seatbelts fastened.