What people fail to realize is, there is no U.S. or Europe on this topic.
It is one large private global banking syndicate who has co-opted anyone who isn't living in a bunker with guns and butter.
So it isn't Americans bailing out Europeans. It is Americans bailing out ourselves, and by the way these other guys benefit too.
This is globalism gentlemen. The great equalizer. I've always found it odd that Americans are so pro-globalization when it essentially is a death-ray to anyone who doesn't own means of production (and the politicians to protect it) in some shape or form.
Our general living standards will drop, don't like it? Well here comes the pain as the system collapses and brings with it all the chaos and bedlam that civilization strives to ideally avoid.
The only way to stop it - Radical trade policy. Do that, here comes the pain ala 1930s and perhaps the end of civilization via nuclear holocaust when our potential enemies are no longer deep-captured by our economic incentives.
So yes it is shit-sandwich, yes I hate big private banking syndicates, and yes we all get to take a bite until the people are no longer afraid of "or else the system collapses"...
Position: Mildly long US equities for the last 1.5 weeks.