"Ireland does not have the severe structural problems of some Mediterranean countries. Over the last 18 months, we have taken many of the measures that Greeks are only beginning to take. The risk of contagion from the Greece fallout does not extend to Ireland." (Bloomberg)
Iceland isn't Dubai."
"Greece isn't Iceland."
"Ireland isn't Greece."
And most recently, "Portugal isn't Ireland."
(From Elliott Wave website)
MyView The charts above almost identical. We almost can predict the next major news in Europe, "sPAIN isn't Portugal". Ooops, it should be PIIIGS instead. First we have PIG, then PIIG, then PIIGS and lastly PIIIGS. History may not repeat itself but it ryhmes. Could this be the catalyst for US dollar to reverse against Euro? Gary Shilling thinks that it should be 1:1. And base on his track records, he is almost right all the time, not timing wise but his call I think we left out the country of Pizza, ITALY. Then what? Europe?
No comments:
Post a Comment