Wow, Snow is saying that US investors may pull their cash out of Europe.
"It is not so much the language that is used, it is the policies that get embraced. And if policies get embraced that make capital feel unwelcome, capital won't come."
That would be terrible news for European economies. They are already heavy in the red and really need outside groups to buy their debt. If US captial flows heavily out of those countries then they could reach the default zone. A German or French default would blow a big hole in the world economy and would hurt the US no matter what.
It may be a boon for Eastern Europe and Asia though because that will probably be the places where ear-marked Western European money will go.
I think this guy needs to think before talking though:
The head of Germany's ruling Social Democrats (SPD) Franz Muentefering recently described some investors as "locusts" who destroyed firms for their own profit.
Uh no, Mr. Muentefering investors are one of the groups that are keeping your economies flush with cash so you can pay for all of your social programs. If you pull the rug out from under them you can only rely on your own people. And you know you can only raise taxes so far.
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