Sharky:

It is I think the "Bond vigilanes" at work. They started with Greece, now, they are working over Portugal and Spain. They will move on to Ireland and England, ultimately arriving at the US itself. Every nation with defecits that are high as a percentage of their GDP will get hit hard. That will include most European nations and the United States.

This will result in a repositioning of Nations and Continents in the International arena over time. The growing emerging nations and those nations who supply them with the materials, will relatively prosper and strengthen in prominence and economic strength as Europe and the US diminish. The emerging beneficiaries will be those doing the growing demand and those who supply it.

A bet on Connacher is a highly leveraged bet on that trend and trade.

Brian