"Stunning news via The New York Times today (see http://www.nytimes.com/2010/05/11/business/global/11reconstruct.html) that President Obama pushed a reluctant German Chancellor Angela Merkel into going ahead with the $1 trillion bailout for the European Union. Whatever positive effect the news of the latest $1 trillion monstrosity had was gone within 24 hours. The euro, stocks, and commodities all fell today as most thinking people sobered up and realized that you cannot effectively fight debt by going into more debt.
Merkel never should have listened to him. She should have politely told him where to go."
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