Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. These days I'm retired, and I can't by law give you advice. I do make mistakes, but I try hard to do my analysis thoroughly, and to make sure my data are correct. Remember: the unexpected sometimes happens. The expected does too, but all too often it takes longer than you thought it would.
The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.
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Tuesday, July 17, 2012
Brazil eases again
Brazil is about 3% of the world's economy. This means that 17% (including China) is poised to resume growth. Unfortunately, since the Euro-zone (the currency area which uses the Euro) is also 17% of the world economy, the one offsets the other. So we turn back to the US, roughly 20% of the world economy. And the question remains: is "payback" over? We'll be getting data soon which will help clarify the picture. But something has changed: whereas before Brazil and China were dragging with Europe, now they'll be accelerating. And that is an improvement.
Posted by Nikolaos at 8:14 PM