Of course, I distrust the nature of all governments. But even I am amazed at how Greece was able to fake budgets, have inaccurate financial statements, and are affecting all other countries in the EU.
I find it hard to be positive on the Euro in general, and do not believe countries like Germany will put up with the disorder too long.
Now the EU will have to print more money (just as we did), and bearish bets on the Euro are at their highest since September. The ratio is 59,422 more trades to the downside of the Euro.
With whatever happens short term, it is likely this currency will crash.
This is why GLD and CEF remain up to 15% of our portfolios, as hedges against the Euro now, and the USD, which has created the circle of debt that, circles the world. Each of our shell games is dependent upon each other. The house of cards is much larger than people realize.
Don Peck is a deputy managing editor of The Atlantic. His article “How a Jobless Era will Transform America” is available on line at:
I consider this superb journalism, and a author that clear sees and filters through the masses in input we receive.
Much of what you will read in this article is my thinking exactly, and will be part of how I’ll consider a 17.5% real unemployment rate (my definition: people that want to work full time) what I believe will be standard for a number of years.
It is not Obama. It is even now not Congress. Goldman Sachs and the Greece game should show us what the “money” made goes to, and what is faked.
There will simply not be enough jobs. People will be spending less.
Please read this article and form with me our plan for how to stock and option trade to make money in an environment like this.
If I am predicting, from outside the economic circle, and as one of the most cynical of analysts, it will be interesting to hear what is discussed, vs. what is executed.
America is clearly seeing that things do not execute well in our government and that we are frozen.
We are in turn not executing well within many of our businesses, and this will compound the unemployment, as people are a variable cost that can be cut.
