The European sovereign debt crisis has come back to haunt the euro.

We are facing more than just a sovereign debt crisis. We are facing a crisis in democracy. The ruling classes can no longer buy off the mob.

On August 21, Australia held general elections for Prime Minister. Japan has a leadership election within the Democratic Party on September 14.

The US inflation rate has been going down since the early 80's and was cut in half since last year. It now hovers barely above zero.

Despite the draw of a long weekend and questionable long-term implications, confidence is bolstered by non-farm payrolls.

The week ahead promises relatively little in the way of top-tier economic event risk, but a number of lower-tier data releases could force moves on significant surprises.

Markets are now pointing to a shift in sentiment.

An interest rate decision from the Bank of England highlights the domestic economic calendar, but the outcome may not prove market-moving with policymakers unlikely to offer anything that has not been priced in for some time already.

Canadian economic activity in the second quarter advanced 2.0 percent during the three months through June, which missed economists' expectations of 2.5 percent, with net trade contributing negatively to growth.

Guess who was better off at this stage following the beginning of the crisis. The investor in the Great Depression? Or, the investor today?