Based on the recent trends in European CDS and European interest rates it’s becoming more and more clear that the markets are not convinced of the ECB’s bailout programs. In fact, there appears to be a full blown revolt against all forms of bailouts as the results of the bailout here in the United States and China are receiving big votes of “no confidence” in recent months based on equity prices:
Source: Atlanta Fed
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.
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