IS EUROPE GOING IN THE DIRECTION OF DETROIT?

Trends in debt-to-GDP ratio (source: ZeroHedge, Eurostat):
•Euroarea: 92.2%, up from 88.2% a year ago
••Greece: 160.5%, up from 136.5% a year ago
••Italy: 130.3%; up from 123.8% a year ago
••Portugal: 127.2%, up from 112.3% a year ago
••Ireland: 125.1%, up from 106.8% a year ago
••Spain: 88.2%, up from 73.0% a year ago
••Netherlands: 72.0%, up from 66.7% a year ago Scary!

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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