If you didn’t pay much attention to global markets last week, here’s what you missed…fears that the global economy is dangerously close to a recession due to the financial crisis in the eurozone and flatlining growth in the U.S. sent assets of all shapes and sizes into a tailspin.
Among the E7 and G7 countries, only two markets increased for the week—Pakistan (up 2.2 percent) and Japan (up 0.5 percent). Russia (down 12.2 percent) and Indonesia (down 10.7 percent) were the leaders in the opposite direction. The average return for the 14 countries was a 5.7 percent decline.
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Today’s Solons
What’s Bill doing in Cyprus…?
We’ll get to that. First, what happened in the markets? On Friday, the Dow rose 267 points. Gold went up too — $23.
A big move to the upside. And why? No apparent reason. Gaddafi bit the dust, almost literally. And the Europeans seemed to be stumbling to yet another solution…in which they borrow more money to help fund the troubles created by borrowing money in the past.
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