Salient to Investors: Martin Feldstein said Greece cannot be fixed. A Greek departure would be chaotic short-term, but longer-term would return Greece to growth and more robust employment. Italy is in good shape. Spanish regional budget deficits pose a bigger problem than the banking crisis. European leaders lack a longer-term strategy on how to
READ MORE... →Salient to Investors: History may be repeating itself. Historians take a longer and bleaker view on a Euro Zone breakup than economists. In both cases, the founding generation was dying out as crisis hit and disintegration loomed. Ruble zone breakup was led to runaway deficits and hyperinflation and every Soviet state
READ MORE... →Salient to Investors: Obama cannot afford a European financial meltdown. In 2008, Merkel rejected Obama’s request to speak at Brandenburg Gate. Obama has courted Merkel since, but the European Centre for International Political Economy said Germany is tired sick of the complaining and lecturing from Obama and Geithner. American Academy said helping Obama is not a Merkel priority
READ MORE... →Salient to Investors: National Securities Corp said that a Chinese stimulus package will turnaround copper prices. Hedge funds and speculators remain bearish on copper. Predictions: IMF is predicting EU GDP will fall 0.3 percent in 2012. Goldman Sachs sees copper at $9,000 in three months. Morgan Stanley sees a 130,000-ton shortage for copper supplies in 2012
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