Economics
Tom Keene Talks to Allen Sinai
Tom talks with Decision Economics’ Allen Sinai, who contrasts the U.S. recovery and the European crisis
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Why should Americans worry about what’s going on in Europe?
Europe could be in severe recession. It’s in a classic credit crunch as the values of the assets and the institutions keep going down. Why would anybody want to hold the debt of euro zone countries like Italy or Spain that is so compromised and of countries that may become insolvent because business is so bad? It’s a really historic moment.
We are remarkably more linked than we may perceive.
It is extraordinary, the linkage of globalization, plus the way technology works in the financial markets.