Tired of Hearing About Eurozone Troubles? New Perfect Storm Brews

I know most people are tired about hearing of the economic problems in the eurozone. But my readers need to be aware: a new perfect storm is brewing because of that situation. The credit crisis in the eurozone has already created enough troubles in the global economy, but it is threatening to trigger more. Here is what Fed Chairman Ben Bernanke said last week, “…the elevated levels of stress in European economies and uncertainty about how the problems there will be resolved are adding to the risks that U.S. financial institutions, businesses, and households must consider when making lending and investment decisions.” (Source: ‘The Economic Recovery and Economic Policy,” Federal Reserve, November 20, 2012.) Not many in the media picked this up, but it was very important. Bernanke, regardless of what you think of his policies, is the head of the most important central bank in the...