Here's a new running item for you FutureJacked readers out there - I'll call it the Mood as Driver series. As 2010 unfolds and the anger and fear drives events before it, we'll try and spot inflection points where "mood" is obviously trumping so-call economic fundamentals or economic reasoning.
We lead off today with our friend George Soros and his observations on Germany's hesitation to attempt to ride to the rescue of Greece's financial fecklessness, as reported by the Times:
...However, a key trigger yesterday was testimony in Germany's parliament by economy minister Rainer Brüderle, who said there would be "no bail-outs" for struggling debtors and no move to a "European economic government".
"A few European nations are exhibiting dangerous weaknesses. That could have fatal consequences for all countries in the eurozone," he said. Despite the warning, he said each country must solve its own problems.
"Germany is not in a mood to be the deep pocket for what they consider profligate, southern neighbours," said hedge fund doyen George Soros...