As we all know by now, the problems in the European Union are starting to increase by the moment. Many investors are now talking about a complete breakup of the European Union as we know it. The debt problems in all of these nations is simply becoming to much to for the European Central Bank (ECB) and the International Monetary Fund (IMF) to handle. In other words, debt can only bail out debt for so long. Has the debt society as we know it finally come to an end?

This afternoon, the Federal Open Market Committee (FOMC) will announce there interest rate policy statement. Most traders and investors are expecting the Federal Reserve to keep the Fed funds rate (overnight lending rate to the large banks) at zero percent. It is important to note that the Fed funds rate has been at zero percent since December 2008.

Yesterday, all of the major stock indexes around the world surged higher after the central banks announced the coordinated intervention for the banks holding European debt. This action by the central banks is a repeat of the action taken back in September 2008. We all know what happened shortly after that intervention in 2008 as the stock markets cratered into March 2009.

The plot thickens again in the soap opera of the European Union. One day there is a $1.4 trillion bailout fund in place and the next day that deal is falling apart at the seams. One day Greece is on board with austerity measures and the next day they might be back to using the Greek Drachma. This Greek drama continues to get better by the minute.