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Byron Wein: European Stimulus is Anesthesia

July 20 2010, 08:38

FMX Connect (Reported 7/20/2010)

We recently came across an interesting piece from Blackstone on the European Stimulus and the road to recovery. Bryon Wein is a well known strategist. The most salient points are outlined below:

No clear way out of the enormous debt burden of the developed economies.
2 solutions: austerity or competitive devaluation
Germany will tell the rest of Europe that it went through a period of sacrifice as a result of reunification and others should be prepared to suffer as well.
Gold should be included in international reserve currency.
Inflation will get to 5-6%, 10 year treasuries to 7%.
Insurance companies may be in worse shapes than the banks.

The full story is attached.

Market Commentary

Source: Blackstone

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