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DEBT TALKS GO INTO OVERDRIVE

|Includes: AABA, AAPL, BAC, BAL, C, DBA, DBB, DJP, EEM, EFA, EPI, EWA, EWC, EWG, EWI, EWJ, EWM, EWZ, FDN, FXE, FXF, FXI, FXY, GLD, GS, IBM, IDX, IEF, IWM, JJC, KBE, KO, LQD, QQQ, RSX, SGG, SLV, SPDR S&P 500 Trust ETF (SPY), TLT, UGA, USL, VNQ, XLB, XLE, XLI, XLK, XLY


 

We are coming to the end of the road for debt talks in both the U.S. and Europe. French president Sarkozy has flown to Berlin trying to convince the Germans to go along with a new "emergency" fund PIGS and others could tap into to avoid default. It works like a HELOC without the collateral. The Germans would bear the brunt of the funding of course and haven't been enthusiastic. But, there's little doubt the future of the EU and euro are at stake if they can't come to a deal.

In the U.S. the president is even trying to get a temporary debt ceiling extension which previously he indicated he would not do.

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