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View Diary: If the Euro fails. (282 comments)

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  •  Our banks can't HELP but ... (3+ / 0-)
    Recommended by:
    wu ming, Creosote, ozsea1

    ... be exposed.

    Our recovery has been on the back of export growth and a sluggish recovery in consumer durables. And, of course, given the import component of many of the consumer durables, a big chunk of that latter in terms of spillover to consumer income is the auto industry.

    Knock out the strongest leg of a two-legged recovery, and the question is not whether we have a double dip but how deep it goes.

    While we may speculate how exposed the US banks are to Europe directly, we can have no doubt how exposed they are to another wave of corporate bankruptcies and to the home foreclosures wave accelerating once more.

    Support Lesbian Creative Works with Yuri anime and manga from ALC Publishing

    by BruceMcF on Sun Nov 27, 2011 at 03:14:59 PM PST

    [ Parent ]

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