(Don’t) Be Fooled

Don’t be conned over the next few months (Aug and Sep are traditionally good times for share markets), it’s all there in front of you, in black and white:

The Spanish jobless rate has just hit 24.6% – Yahoo News, 27th July 2012.

Greece may run out of money by Aug 20 – Telegraph, 26th July 2012.

On July 25, 2012, Reuters reported that the National Statistics said Britain’s gross domestic product fell 0.7 percent in the second quarter (the sharpest fall since early 2009) confirming that Britain is mired in its second recession since the financial crisis, with the economy shrinking for a third consecutive quarter.

If the euro zone’s crisis intensifies, the Russian economy could contract by 5% over the next 10 to 12 months – Wall Street Journal, 25 July 2012.

Greece is in a “Great Depression” similar to the American one in the 1930s, the country’s Prime Minister Antonis Samaras told former US President Bill Clinton on Sunday –
Telegraph, July 23 2012.

The ranks of America’s poor are on track to climb to levels unseen in nearly half a century, erasing gains from the war on poverty in the 1960s amid a weak economy and fraying government safety net – Associated Press (Washington), 23 July 2012.

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