Capital Account -- 11/14/11
Technocrats have been installed to lead Rome and Athens, but what do markets think? Italian bond yields are on the rise again, Spanish bond yields are on the rise. So who really rules: Politicians or markets? As billionaire investor Warren Buffet says, “markets are stronger than anything.” We also hear from economist Nouriel Roubini on a possible eurozone breakup. Meanwhile, US President Barack Obama pushes for a trade deal with nine Asia Pacific nations at the APEC summit in Honolulu. But wasn't it just a month ago the US and China were on the brink of a trade war? We ask, with the global economy or at least Western economies possibly headed towards a lost decade, are we going to see not more trade deals, but trade wars? Plus, Obama and other world leaders get a protester serenade inside APEC.