Establishing a background

My first few posts will be used to build a foundation and establish a frame of reference so-to-speak, for future discussions.

Currently, the American and World economies are hurting. A few months ago, the European Union (EU) had to bail out Greece (111 Billion Euro - $145 Billion). This week, the same EU (with input from the IMF - International Monetary Fund) approved a 85 Billion Euro (roughly 111 Billion US Dollars) bailout for Ireland.

http://www.guardian.co.uk/business/2010/nov/29/ireland-bailout-fails-to-excite-markets

That article states that the U.S. Stock market is down 1% so far today and that Andrew Lim, head of financials research at Matrix, said: "The Irish bailout doesn't solve the euro problem … We are looking at Portugal then Spain next."