Tag Archives: ESM

The Run on Europe

german_bank_run_50

There is a lull in negative news from Europe. However, it is short lived. There are four facts that are very important to understand: Most European banks are insolvent The ECB is massively monetizing to keep the system operational Germany … Continue reading


The Last Man Standing

nero_drachma1

Which is a greater force driving volatility: uncertainty about whether the U.S. can get its budget act together or Europe‚Äôs future? I would argue that Europe poses a much greater risk — and it is less understood in U.S. markets. … Continue reading