Oil Down $3.50/bbl on Spain Fears, DOW down 100.

[theheretic]

That's right, Spain. Spain owes something like $1.4 Trillion in derivatives and the bank bailout is utterly capable of dropping the entire EU into decades of poverty. Not weeks, months or years. Decades. It seems that the bad ideas of inflating ARM mortgages that were so popular in California a decade ago really took off for British tourists

Comments

[l33tminion]

The bumpy plateau sure is disorienting.

[theheretic]

It's amazing that so much of the rest of the Financial world is utterly screwed in relation to this, or even distantly like today. Expensive air fares are somewhat to blame for the collapse of Spanish condo values.