I have been saying this for years

Europe is in a dire situation. If it doesn't address the underlying causes of the Greek crisis quickly, Europe's political project will face the same fate as communism and the US Confederacy, writes James K. Galbraith.

The problem is that the consequences could be cataclysmic from an investment viewpoint.

Or, the markets could respond favorably because finally the politicians and power grabbers bureaucrats will finally be forced to make some sense out of the European experiment.

I go back to productivity differentials between nations. The countries with low productivity will always be dominated by countries with high productivity.

The US proved it in the 1960s. Germany and Japan proved it in the 1970s and Germany proves it again today.

George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
2009 Market Timer of the Year by Timer Digest

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