This is a summation of an article written by Coby and Lamson for Minyanville.com on the current state of affairs for the economy on May 18, 2010. Never let it be said, "Nobody told me!" Or, "Nobody saw this coming!"
In summary, it’s time to put your safety belt on because it’s very likely going to be a rough ride for the global markets and economy over the next six to nine months. It's said that no one ever rings a bell at the top of the market. We believe that in this case, not only was a bell rung, but that last Monday’s news of the European trillion-dollar bailout will prove to have been a giant gong! Why? The reason is that the highest-ranking government officials worldwide have acknowledged that sovereign debt is out of control and has the ability to sink the world economy as it breaks the European Union apart. We hear no modern day Herbert Hoover declaring “the worst has passed," and there are no “Happy Days Are Here Again” songs being written. Instead we hear Merkel declaring that the trillion-dollar bailout will only “buy us time." All nations burdened by excess debt are either in trouble or will soon be in very big trouble, and that's bad news for everyone around the globe.
http://www.minyanville.com/businessmarkets/articles/global-markets-economy-grail-timing-indicator/5/18/2010/id/28364
