Roger’s Rules

By Roger Kimball

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Europe on the brink? (And Russia close behind?)

October 26, 2008 - 7:47 am - by Roger Kimball
Michael C.
2008-10-26 14:26:06

The loss of capital over the next few years will be so great that growth has to be stymied. Remember it takes about $65,000 of capital per cheap job. There is minimal need for housing in the US because of a large inventory so forget those jobs. Fortunately, we can send back our new immigrant population. That will help with unemployment. With the drop in demand for fuel, Russia Venezuela and Iran are in deep Doo Doo. If Obama is elected he will raise taxes so tax-free bonds are an obvious value. That means less money for job producing businesses. Look for a long slow business environment. Exports will shrink dramatically because of the loss of European and Asian demand. (Exports have been our major growth industry). Save as much money as you are able because there are going to be some terrific buys out there. The only question is when!