another wobbling domino

Italy is broke and since they cant devalue their currency as it is the sheared Euro - so their bonds get smashed and sold with high risk of default on debt.

Italy woes have come at a very bad time  as there is currently a global bond markets sell off since the US raised their interest rates and the USD has been rising - there are a number of analysts speculating that the everything bubble is bursting.  Stocks had a very bad week and Chinease markets were closed the last week for week of national holidays. 

Most of the major stock market collapses happened in October which is statistically the most volatile month, it is going to be a wild ride and I will be keeping a vigil on global events.