Ray Dalio, who manages the largest hedge fund, Bridgewater, thinks Southern Europe will be in a ‘managed depression’ for the next 10 to 15 YEARS with the Southerners controlling the euro policy because they have more votes.
I can’t the public going along with that for that long, but the government has the gas and guns. He guesses that the euro will survive. But that if it doesn’t, it will be because the Northerners leave. He said ALWAYS own some gold.
People keep talking up inflation, but if Europe stays depressed for 10 years, I just can’t see inflation becomming a BIG problem anytime soon. China could see poor growth too, since Europe is their biggest trading partner. Trade with their neighbors might replace some of it, if they don’t start World War III over a few rocks out in the ocean which may, or may not, have a lot of oil under them.
As far as the stock market, right now I would guess that it will be nearly flat for most of next year, then begin to pick up in October. But ONLY if the clowns in Washington don’t screw things up again.
Should Romney win and actually fire Bernanke, watch out. His money creation is the only thing that has prevented another Great Depression. With the wrong person running the Fed right now, I think we would be living in a far different world today. And it wouldn’t be better.

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