Is the ultimate value of your securities portfolio blowing in the wind?
''Admiral Willard recently asked Secretary of State Hillary Clinton how she's feeling after a long flight. Her answer was expected 'Tired'. 'But she was not tired from flight,' said Willard, 'she was tired from the world today.' No matter where she travels, no matter where she looks 'There's chaos.' This is what our wild and untamed market is reflecting, wild and unstable conditions of chaos.
The new mishmash coming out of Europe is so complex and mixed that it's almost impossible to follow. The crux of it is next week there will be a coordinated effort by the central banks to come to some sort of conclusion. The leaders of course will be a reluctant Germany and France. They will push for a central body to decide fiscal policy and rules and the members of the Euro zone.
Would you buy this? One concept is for the European central bank to buy the bonds off of shaky southern European countries. The bonds would be packaged as 'Euro buys.' Whether these bonds can be sold is doubtful. All in all the Euro zone is facing its moment of truth. The volatile stock market will try to decide whether there will ever be a stable United States or Europe. The answer is blowing in the wind.''