"Saving the eurozone will no doubt edge its way onto the agenda at this week's informal summit on jobs and growth in Brussels."

Oh how nice. We'll get around to it when that agenda item comes up for discussion. Frist comes the discussion on the curviture of bananas and the roundness of oranges. Markets don't wait for bureaucracies. They are now lightning fast. The rush to the exit when it comes could crash the Euro in a matter of hours. The EU created a ticking time bomb with the invention of the Eurodollar and it could detonate at any time now.

"The IMF stands in the wings, ready and willing to administer its harsh medicine."

Another naive and vain hope. The world's currency markets trade surpassed a trillion dollars a day many years ago. Anything the IMF or anyone else could try to bolster the Euro would be easily overwhelmed, swamped by the markets. The IMF could bankrupt itself by trying, making it impossible to help anyone else again.

"But say the conclusion from this crisis is that the euro is fatally flawed; that it might survive this storm but will surely be holed next time around. Then, inevitably, the arguments will start as to whether the eurozone needs the equivalent of a single treasury."

Laughable. Knowing that, why wouldn't investors simply get out now while they still can. There isn't going to be a next time. This is it. The first time will be the last time. The Euro is probably as good as dead and buried already. How fortunate for the UK that it still has the pound sterling...or should I say the pound pewter. If the UK were smart, it would quit the EU immediately to get out from under any and all obligations to rescue anyone but itself. And what a payback that would be to France and Germany.

The old adage proves true once again, that the flight to quality means a flight to the US dollar. There won't be any strikes in the US for more government spending. The anger centers around the government spending a lot less. It is said of the US economy that when the US catches a cold, the rest of the world catches pneumonia. What happens when the US catches pneumonia?

The chickens are on their way home to roost. The only question is when will they arrive and how much of their droppings will Europe have to endure. IMO this is all very good news for the US taxpayer and consumer. US markets should eventually do very well too as investment money comes pouring in to its markets from all over the world. Europe had its chance and blew it.

i'm corn-fused...

~"When an inner situation is not made conscious, it appears outside as fate." Karl Jung~