Juggling Dynamite

The Euro is melting this morning falling to a 10 year low. The US dollar and bonds continue to see the influx of fleeing capital from the Eurozone.

John Mauldin, president of Millennium Wave Advisors LLC; Michael Woolfolk, managing director at Bank of New York Mellon Corp.; Steven Brown, vice president and portfolio manager at American Century Investments; and Domenico Lombardi, senior fellow at the Brookings Institution, talk about the outlook for President Barack Obama’s speech to Congress about the economy and jobs, prescriptions to restore growth, and the risk of contagion from the European debt crisis. They speak with Pimm Fox on Bloomberg Television’s “Taking Stock.” Watch the clip here.

It was my pleasure to sit down with Endgame author John Mauldin recently. I first met John on the US speaking circuit in 2008. I have read all of his books and enjoy his weekly e-letters. I like his thinking. Like myself he is a longer-term optimist that new technologies, innovations and ideas will bring the world to a better future eventually. In the meantime of course one has to be very mindful of present economic risks and likely outcomes. Blind faith is not a reasonable option. Practical, careful thinking and active risk management are key to getting through present conditions in tact.

Following up on our discussion on the continuing credit crisis and recent developments in Europe is John’s e-letter this weekend “Preparing for a Credit Crisis”, –well worth the read.

My children were just babies on Sept 11, 2001, they do not remember any of what happened. It is hard to believe it was 10 long, yet short years ago. I took my daughter to ground zero this summer for the first time. It was quite an experience for both of us as I tried to educate her on the who, what, where and why of the events of that sad day. I will never forget being at work that morning and watching the first plane hit. Then the shock, horror and realization of the implications when the second plane hit. Then of course, the buildings and people evaporated before our eyes. In the words of Sting, “lest we forget how fragile we are”.