Biden's Radical Nominee Takes Another Hit From Law Enforcement
Woman Records Very Creepy Visit by the FBI
Joe Biden Is Hitting His Political 'Life Alert' Button With This 2024 Move
South Carolina's Mysterious Bank Account That Has Over $1 Billion in It
Occupied Gaza
Biden Administration Locking Up Public Lands from West to East
Baltimore Mayor Raises Eyebrows Over What He Claims Is His 'Purpose in Life'
Only Democrats Get to Lie on NBC News
Donald Trump: The Non-PC Candidate
Ronald Reagan: The Man Who Cut Taxes From 70 to 28 Percent
Republicans Thwart Democrat Scheme to Raise Gas Prices
The Future Looks...Old?
Not Exactly Something Normal
Senate Judiciary Committee Should Prioritize Main Street Over Wall Street with Free Market...
Some Unpleasant Truths About Islam and the West
Tipsheet

Your European Vacation Just Got A Lot Cheaper

It seems that money can’t buy confidence. The euro dropped .5% against the dollar this morning and stock markets were in a tizzy after news of Europe’s $1 billion bailout package buttressed and then busted the confidence of worldwide investors.
Advertisement
Investors were skeptical of the planned rescue of Europe’s faltering economies – perhaps they, more than the governments that regulate them, are conscious of the fact that money doesn’t grow on trees.

The drama reached an apex yesterday, when the U.S. market shot upwards after it received news of the European bailout. But it quickly dropped back down this morning after confidence in that bailout lagged. All told, the Dow went up 3.9 percent yesterday, and declined .6% today. The Stoxx Europe 600 Index suffered more, rising 7.2% yesterday, and then falling 1.7% percent this morning.

Marek Belka, the director of the International Monetary Fund’s European department,  told Bloomberg that the “unprecedented” European bailout package isn’t going to work as a long-term solution. Combine that with inflation in China and faltering commodities, and the investing outlook for any of the world markets isn’t looking particularly rosy.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement