Oil is down in the $70s risking to lull us again into energy complacency, and now the dollar is rising against the Euro. ... While Europeans have jumped in to address their financial markets issues more aggressively than the US, they have no central authority to target shoot the trouble areas. And any one country not stabilizing its own banks runs the risk of unwittingly being the weak link for the Euro as a whole.
October 17, 2004