A Bronx cheer was given to Bernanke's speech and Obama's subsequent presentation Thursday. It doesn't help a credible terror alert was issued for NYC and DC as 9/11 is remembered. But most of the blame for selling continues to be focused on Europe where many single country markets are in official bear markets. The much watched DJIA finished its sixth straight triple digit point move. Of the past five trading sessions, four have been losers.
Most economic woes are centered in developed countries from Japan, Europe and the U.S. And the epicenter is the debt crisis. In Europe, band-aid fixes and outright BS dominates authorities struggling to deal with things. They're losing their credibility. They haven't come clean overall with the scope and immediacy of these problems. Until they do these bearish conditions will continue....READ MORE
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