EUROPE — A Blizzard of Bad News: What to do ...
Dear Constantin, The headlines out of Europe this morning are enough to curl your hair ... European stocks headed for their worst quarter in four years! German unemployment rate suddenly explodes! Portuguese voters abandoning the EU in droves! This is the worst kind of news imaginable for European leaders in general and for the EU in particular: Slowing economies and stock markets add up to plunging tax revenues for Europe’s governments. And plunging tax revenues are the worst news possible at a time when they need all the money they can lay their hands on to service their massive debts. Make no mistake: My forecast stands: Europe’s great debt crisis is beginning NOW. When the dust se...