The major Indexes (indices?) are now down 7/10 percent.
The country is already in a recession, according to bond manager Jeffrey Gundlach, who predicted “there’s going to be a big loss in Europe.”The German Bundestag votes tomorrow and one senior judge had said it is illegal to bind the country without a referendum.
“We’re in a recession right now,” Gundlach said, as he reviewed a hefty deck of slides with dreary data. Statistics on the polarization of wealth in the U.S., dim headlines about sentiment in locales abroad and the European bond market were among the reasons Gundlach cited for his dour forecasts....MORE
Watch the Sept. 29 German Vote on the EFSF
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It's Not Over Until..."German turmoil over EU bail-outs as top judge calls for referendum"