A BIG VOTE OF “NO CONFIDENCE” IN GOVERNMENT INTERVENTION

Based on the recent trends in European CDS and European interest rates it’s becoming more and more clear that the markets are not convinced of the ECB’s bailout programs.  In fact, there appears to be a full blown revolt against all forms of bailouts as the results of the bailout here in the United States and China are receiving big votes of “no confidence” in recent months based on equity prices:

Source: Atlanta Fed

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