The debate continues in the United Kingdom about their possible egress, or “Brexit” out of the European Union. If Britain and company marches, it would signal that the EU is beyond repair, leaving troubled Eastern Europe to flail alone for economic stability. We haven’t talked much about Greece, Portugal, and Spain’s troubles for some months now because there haven’t been any newsworthy developments until now. Nevertheless, the struggle for solvency continues. Should the Mother Land defect, the implications of global strife would be grounds for continued low interest rates over the longer term.
Speaking of strife, New Home Sales are reported down 9.2% from last month, and the DOW has sunk 200 points so far this morning.