Stock market: correction or start of something bigger?
Right now the focus is on the turbulent financial markets and for good reason. Volatility has increased drastically and after almost one year of steady gains, such volatility should be a concern. Previously I discussed the movement in the currency market as a potential catalyst for a move in American costs. Specifically the move in the Euro, or rather it's ultimate demise. Ever since Europeans decided that they would rather keep Greece in the union and willingly print Euros to cover the rapidly deteriorating debt of the Greeks it signaled the beginning of the end. Reason is rather simple actually, when a central bank is willing to print more money just to keep an artificial coalition together outside forces will grow skeptical of the value of this currency. Furthermore it exposes other weak links within that coalition, namely Spain, Portugal and Italy. There was only one correct move in the case of Greece fire and that was to snuff it out, instead the Europeans decided to g