I heard two WSJ economists discussing this issue online. At first they talked about how nobody’s convinced by Mario Draghi and the ECB. They said the market has reacted negatively to him. They said that America trades mostly with England, but England would be pummeled by the implosion of the Euro Zone. And it would negatively affect American wallets.

At the end of the day it came down to that one question about Germany bailing out the rest of Europe. They predicted that it would, and that was what the market was waiting for.

English and American economists must understand that Germany doesn’t think like this, especially without controls put on the rest of Europe to make it do what it wants. Once again it reminds me of World War II being fought on the stock exchanges instead of in tanks.