Yesterday was a bad day for capital markets across the globe spawned by continued comments from the EU’s Trichet. Unlike the US and other countries, Trichet has approached his problems from a more negative scare tactic, or he is out of touch with what is going on; we believe the former is correct.
No matter the reason, we are carefully watching the situation. Recall that the latest slowdown (08-09) was started by the US and shared with many others. This is a possibility with the shoe on the other foot.
Lastly, I am out of the office today and Monday, but in touch constantly.
Have a Good Day!
JK