Cramer: Falling on European swords
Jim Cramer | firstname.lastname@example.org
To me, the common theme is those who have screwed up is Europe, load and loads of Europe, not worries over the fiscal cliff.
We are beginning to get lots of positive anecdotes from companies that work in Asia--signs that things are getting warmer there. But there has been nothing good out of Europe, not a single peep, so diversified companies keep falling on their European swords.
The U.S. election rhetoric is so thick that it is obscuring the truth--whether it's coal exports or tools or housing materials or tech or even health care--and Europe is crushing the hopes of many forward-looking companies that moved there to take advantage of its 500-million-strong market.
So you can listen to the fiscal cliff woes that await us, but remember that Europe is destroying many a bottom-line right now, and I don't see any reason that should get better in the near future.