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Technology Stocks : Semi Equipment Analysis

SOXX 302.84

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To: FJB who wrote (53593)	9/7/2011 2:38:11 PM
From: Jacob Snyder	Read Replies (1) of 95503

OT Euro mess: The threatened Euro breakup adds substantially, to the risk of global double-dip recession. If it happens, it would also make that recession worse and longer. I don't think avoiding Euro-denominated assets will reduce this risk. The risk is global and systemic. The only way to avoid the risk, is to go to cash and/or gold. Nobody knows how it will work out, because the Euro is an experiment without precedents. In the past, all monetary unions were 1) also fiscal, or 2) fixed to gold. I think we are in the process of figuring out, monetary unions require fiscal unions (or a gold standard). And a fiscal union in Europe, means giving Germany veto power, over the government budgets of every other nation in the Euro. That would be a loss of sovereignty for all those nations, far more than anything done up till now. It actually would come close to what Germany tried and failed to do by military means in WW1.

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