The history of Europe in a nutshell

A country grows and generates wealth for its citizens.
Wealth gradually concentrates in the hands of fewer and fewer people.
The country grows more slowly.
Income inequality increases.
Unemployment rises.
Discontent and protests become a daily affair.
Things get out of control.
The country collapses economically and politically without a needed rudder.
The country accepts dictatorship as the only viable option.
The dictatorhip eventually collapses.

Back to square one.

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

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