European crisis explained in 3 minutes.
On the heels of another Euro destruction, where the Euro has made new fresh lows against both the US Dollar and the Swiss Franc one has to wonder where this roller coaster plans to stop. As mentioned here previously, no sustainable rally can occurring American stocks until the situation in Europe resolves itself. That is, at least temporarily because your host fails to understand just how exactly Europe can pull itself out of their predicament. What is their predicament? A gigantic circle jerk of debt. For your viewing pleasure, enjoy this video. My position remains the same, Germany which is currently Europe's strongest Economy needs to leave the Euro and return to it's own currency. This will then expose the Euro's actual value which is NOT 1.19 against the Dollar, but something substantially lower. Similarly and much more importantly countries like Greece and Spain need to have their currencies and debt recognized at actual market values instead