A depression would wring the debt out of the economy.  It would get rid of weak businesses.  It would turn spendthrift households into savers.  That’s got to be worth something.

Risk is being bought this morning following not so dovish comments from ECB President Trichet and stronger than expected economic data.

The correction is doing its work.  The feds tried to stop it with trillions in loans, guarantees, and stimulus spending.  They failed.

The euro has come along way since the end of June when it was trading below 1.20.  Kathy Lien gives a few reasons for the rally.

Governments can't make bad debt go away, so they can't prevent a correction and a de-leveraging.

There's a reason economics is called the dismal science, and weeks like this just give it further meaning. In economics, there is what you see and what you don't. This week we are going to examine the headline data we all see and then take a look for what most observers do not see.

The key reason so many people have such fatalistic attitude towards trading is because it is an inherently unstable business.

When the government borrows money to fund its bailouts and boondoggles, for example, it is taking losses away from the people who deserve them and sticking them on the taxpayer.

The US dollar finds itself at somewhat of an impasse. On the one hand, the recent downturn in equity markets should boost the safe-haven Greenback against the euro and other key counterparts. On the other, markets seem all too willing to sell US dollars at any sign of trouble for the domestic economy.

Has fundamental reasoning broken down for the euro?