I don't like this. It's the confluence of events... the Fed's statement that more easing may be on the way, concern about Greece, low economic number for Obummer. I'm concerned that the U.S. is on the cusp of bailing out Europe.
But the U.S. *CANNOT* bail out Europe. Europe is as big as we are, and our own problems are just as bad.
Then there's Israel and Iran... an unrelated problem that could still precipitate disaster.
And it's all happening in an election year.
I hate this term because it is overused - but I think a 'perfect storm' is brewing.
May 23, 2012, 9:43 a.m. EDT
U.S. stocks slide on Greek-exit concerns
By Kate Gibson
NEW YORK (MarketWatch) -- U.S. stocks began sharply lower on Wednesday, echoing a slide in equities around the globe, on intensifying concern Greece could exit the euro and as the region's leaders gathered in Brussels. The Dow Jones Industrial Average fell 87 points to 12,415.81. The S&P 500 declined 8.94 points to 1,307.69. The Nasdaq Composite retreated 26.56 points to 2,812.52.
http://www.marketwatch.com/story/us-stocks-slide-on-greek-exit-concerns-2012-05-23
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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