The Next Stop for Revolution: Europe. Is the U.S. Far Away?

This past week we’ve seen yet another bailout scheme from euro-zone officials. This one is perceived to be the magic bullet to solve all of the failing monetary union’s problems. But I think we’ve seen this movie before … Last June, the EU and IMF responded to a free-falling euro and a government bond market attack in Greece by promising to pour up to €750 billion into Europe’s weak countries to ensure their solvency. It worked, for a while. The euro turned on a dime and went on to rally 26 percent over just 11 months and highly stressed government bond markets eased significantly, for a while. But it did nothing to make the heavily indebted, low-growth countries . . . → Read More: The Next Stop for Revolution: Europe. Is the U.S. Far Away?