Collapse of the Euro

Last evening, the news release of existing home sales was weak in the U.S. and job claims were 386,000 this morning. The rate of new job creation has seemed to slow again. While the Spanish auction concerns continue to be an issue with the European market, the King of Spain was off elephant hunting while telling citizens to tighten their belts.  Headlines like this (I can’t make this up), have me very concerned about how detached world leaders are from the major underlying economic problems.  My near-term concern is the collapse of the Euro, and I am looking at DXY as a play on the collapse of the Euro.  While this issue will weigh on global economic growth long term, the trend in the Euro and Europe should be down as the general population suffers from unemployment.