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Blain: "Back In The Markets, There Is So Much To Worry About"

• https://www.zerohedge.com, Bill Blain

Today, its' all about Iceland! The giant-killing demi-gods of football slaughtered Argentina in a 1-all draw! [Think Led Zep riff : Da da da dada!] What other mere team can possibly match them? The population of Edinburgh is 100k people bigger than the whole of Iceland! And, since the Icelanders are pretty much Scots according to their DNA, I'm now a fanatical fan! I've ordered my Iceland shirt, the Black-Death Brennavin, fermented shark and sheep's wobbly bits for the next game on Friday when they will take down Nigeria in Stalingrad! (I shall be supporting England this afternoon – I guess I've gone soft after so many years amongst them… Who are they playing btw?)

Meanwhile…. Back in the markets, so much to worry about.

I suppose the challenge is to figure out what the looming German political implosion over immigration policy, the likely splatter effects across Europe, trade war worries and US high-tech sanctions on China, turmoil in OPEC, and the light comic relief provided by the UK Brexit shenanigans, are collectively going to do to sentiment. Germany without Merkel? A full scale trade war? They are not unimaginable!

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