Ariad Pharmaceuticals Inc fka ARIA

[BTH]

But what is happening in the past two or three days is that the North American markets are succumbing to the events in the euro area — more so than by developments in the United States. The vagaries of globalization: 20-years ago, world equity markets had a 40% correlation with each other. Today that correlation is north of 80% (as we found out in 2008 when there was nowhere to hide and decoupling was confused for lags).

-from Rosie today

Sad that the US is at the mercy of EU. Just like the EU was at the mercy of our own BS in 2008. Although, the EU is in denial now, which is pretty pathetic. At least Bernanke took bold action. These idiots in EU are ostriches.."i see nothing!!"

Speaking of which, the SPXs are now rallying bc the USD is tumbling against the EU. Really ridiculous. That's the "trade" that big macro funds are dicking around with now...and have been. I can't wait til they unwind gold.