Government stakes in the utility power company PPC, the telecom operator OTE and ATEbank will be sold off by 2015.
It is time to give up everything they controlled as they were seeking wealth and power. Just for the sake of wealth and power, without worrying about the economic health of the nation.
In the next few years tax receipts in the US will be used mostly to pay the interest on our debt. It is possible we have to face similar problems as Greece.
What we are seeing right now is an enormous transfer of wealth from us to the bond holders. This is the real meaning of government deficits.
We will realize this tragic truth when we will be asked to give up many of the nice benefits we have enjoyed in the past decades because the bond holders want to be paid.
The markets always win.
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
2009 Market Timer of the Year 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 investment portfolio.
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