Via John Mauldin's Outside the box:

Greg Weldon is my favorite slicer and dicer of data. And he (as a registered CTA) has real skin in the game, as he runs money; so his work is not just some guy drawing lines on charts. He has to draw real-world conclusions, for real-world trades. For those who have NOT had a free trial of Weldon’s three research publications, visit www.Weldononline.com and sign up for a free trial.

And for the record, the euro will not fall out of bed until I have exchanged my last dollar in the third week of June. But what’s a little exchange-rate issue when you are talking Tuscany? I can’t complain too much. Have a great week.

Your wondering if Bernanke will ever say the word contained again analyst,

John Mauldin, Editor
Outside the Box

Macro E.U. — D.O.A.

Today's Money Monitor theme can be pitched two ways ...

... D.O.A. = Dead on Arrival ...

... or ... D.O.A. = Debt Offenders Anonymous

Either way, the title applies to our examination of the still-intensifying EU debt-deficit debacle. We are tempted to say that the Eurocurrency is currently being rushed to the hospital, and that it is likely to be pronounced 'D.O.A.', or dead-on-arrival ...

... but we think the more 'appropriate' analogy is to look at the EU as if it were a prime candidate to join a twelve-step self-help program called D.O.A., or 'debt-offenders-anonymous'.

The first step would be 'acceptance'.

However, the EU is not yet capable of this, as it remains 'in denial'.

As EU debt markets come under renewed pressure amid a broadening in the scope of downgrades to sovereign credit ratings, and ratings outlooks, we note commentary from the Union's Economic and Monetary Affairs Commissioner Olli Rehn ...

... "We have contained the crisis to the three countries now in the EU-IMF programs. It is not correct to speak of a crisis of the euro or monetary union."

DENIAL, case closed.

EU officialdom, via their denial, continues to be an "enabler".

....read more HERE (scroll down a bit)