Today The New York Times reported that Angela Merkel took economic advice from Barack Obama:
Today we’re already seeing how well these decisions played out. The market is down over concerns that Europe can meet its debt obligations.
Excitement over the euro zone’s mammoth $1 trillion rescue package gave way on Tuesday to doubts whether its weakest economies can meet their end of the bargain and deliver drastic debt cuts, driving the euro and stocks lower.
Today’s lesson: Never seek economic advice from an ACORN organizer.