I always maintained that we are not facing the death of capitalism. We are facing the death of socialism. I am glad to read that a thinker like Edward P. Lazear hints at the same idea on the WSJ.
Governments have become too big. They promised too much. Now it is the time to pay the piper. And there is no money. This situation has nothing to do with capitalism. This process has happened in the USSR and Cuba. It is time to let the markets operate they way they should.
More details in my The Peter Dag Portfolio and my free educational videos on www.peterdag.com.
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
2009 Market Timer of the Year by Timer Digest
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