Earlier in the week the world’s stock markets went into euphoria over the trillion-dollar bailout of the euro. That has now passed, and all European stock markets dropped dramatically today, with the U.S. counterparts falling somewhat less precipitously. Shares on the Portuguese market suffered the most, plummeting by 8%. It seems that once investors took a close look at the infusion of liquidity into the euro-zone, they realized that it was not really a solution, but simply a postponement of a problem that will only get worse as time passes.
In other news, American intelligence officials believe that Iran is releasing Al Qaeda terrorists whom it has held in prison for years, in order to replace the fighters that have been killed by drone attacks in Pakistan.
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