Evening,

Interesting thoughts about commodities in the near term. Even if there is more instability in Europe, I'm not convinced that the drop in demand for iron/steel will be pronounced or long lived. Inventories are still quite low and would rebound quickly. Pricing would definitley be hit short term. I agree oil would be more volatile and in turn the cdn.$.

Letting Greece go broke would have been bad for the whole Euro zone now. after a reasonable time if the bailout stabilizes the Euro, then Germany/France need to put huge preasure on to kick Greece out of the union. That would put the other culprits on notice that their financials must dramaticaly improve. Kicking Greece out at a controlled time would tell the world the Eurozone is for real and determined to be a world currency.

Try to be off covenant with your bank during tough financial times.

They shut you down!......cook your books......they toss you in jail!

jmo........carry