Europe. I have been writing for years about your problems. I lived in Europe for many years. I know the different European races and what drives their achievements. You cannot put together Germans and Spanish people, or Greeks, or Italians.
They will be crushed by the focused Teutonic prowess to produce efficiently with awesome precision.
In other words, productivity differentials between the northern and southern countries of Europe is too big to make it possible for Europe -- as it is conceived -- to survive.
Why should businessmen go to Greece when they can invest their money in a much more productive country as Germany?
Today the equity markets "celebrated" the end of the European dream. They crashed. I knew it. Milton Freedman told us the European experiment could not last the test of time.
The domino effect will probably continue, dragging the global economy down.
I know. I sound pessimistic. But I am witnessing the collapse of the "social experiment" so much touted in Europe. This is the main reason I moved to the USA.
Are we trying to do the same thing here?
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked Top Market Timer in 2009 and 2010 by Timer Digest
To find out more about my in depth views of the markets and my strategy just visit our website https://www.peterdag.com/ where you can subscribe to The Peter Dag Portfolio. You can also call me at 1-800-833-2782 to discuss your specific money management needs.
I will be happy to speak to your investment group on how the business cycle impacts investment strategies and the choice of asset classes.
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