Recession looming? Raise capital gains tax!

Obamanomics is sweeping the Continent as Greece raises its capital gains tax effective January 1.

Nothing sparks economic growth like a tax on capital. Not!

Also on the wires are hawkish comments from the ECB’s Papademos, warning yet again of second round inflation effects and the potential need for further hikes. The Fed’s Lockhart earlier welcomed relative dollar stability of late, noting its apparent link with oil prices.