What the world needs to understand

Among foreign leaders and in global markets, the political histrionics have eroded America’s already diminishing aura as the world’s economic haven and the sole country with the power to lead the rest of the world out of financial crisis and recession.

It has chipped away at the global authority of President Obama, who was celebrated abroad when he came to office as a man who would end an era of American unilateralism. Now the topic of discussion in other capitals is whether the Age of Obama is giving way to an Age of Austerity, one that will inevitably reduce America’s influence internationally. (Source: Bloomberg)

The world needs to understand that the US is in the midst of redefining the purpose of the government. This is the only country that can do it because of its practical common sense and decision making.

The challenge we are facing is that we may have a President who may not have the experience in managing the momentous changes in front of us.

The markets eventually will win and will force the change. The issue for investors is to recognize the main trends and not be caught by the rhetoric of our leaders.

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

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