Today KWN is pleased to share an important piece from 50-year veteran Art Cashin, who is Director of Floor Operations at UBS ($650 billion under management). Cashin covers market action and discusses the ticking time bomb that threatens the economy. His piece includes an outstanding commentary from Richard Yamarone.
By Art Cashin Director of Floor Operations at UBS
February 28 (King World News) – “On this day in (+1) 1944, in the pre-dawn chill, a freight train pulled out of Balvano, Italy. Now this was not a particularly good year if you lived in Balvano…or anywhere in Italy. As you history majors will recall, 1944 was a very active year in something called World War II. The Allies had landed in Anzio and were busy killing Italians to get them to surrender. Meanwhile, the Nazis were busy killing Italians to prevent them from surrendering. Thus the over/under on being a current Italian citizen was not quite a chalk bet.
That brings us back to Balvano and this day. As that freight train pulled out, several hundred of the local folks, hoping to find a place better or safer, scrambled aboard the freight as it slowed on its first upgrade.
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Students who get these student loans have to have a co-signer. They arent just giving loans out to kids with no assets like that guy claimed. I have been paying my loans on time for 4 yrs and still cant get my mother off as a cosigner because I do not own anything but an old car.
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