2010-12-03

Austrian PM blasts Turkish Ambassador


Anti-foreign sentiment is higher all over the globe, including the U.S. and Europe, but the Europeans are ahead of the Americans. In part, no doubt, due to the fact that the culture clash between Americans and lower-class Mexican and central American immigrants is less than the clash between Europeans and Muslim immigrants. There's also a history of conflict, with Muslim invasions of Europe, one of which was stopped at the gates of Vienna.

Below is the iShares MSCI Austria (EWO) ETF, it includes the currency effect from a weaker euro. The speech was made on December 1, a day when the market rallied, but it was almost certainly written the day(s) before, when the euro was plunging.

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