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The euro will survive, says Bridgewater Associates Ray Dalio. However, he does predict a...
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Friday, September 21, 2012, 7:41 PM ETThe euro will survive, says Bridgewater Associates Ray Dalio. However, he does predict a “10 to 15 year managed depression” in Southern Europe, which he feels could be very dangerous. “I worry about another leg down in the economies causing social disruption because deleveragings can be very painful," Dalio says. “For example, Hitler came to power in 1933, which was the depth of the Great Depression, because of the social tension between the factions. So I think it very much is dependent on how the people work this through together and worry about the social elements.”
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So, if various good citizens want to rally around demagoguery, they'll likely be posing a threat only to themselves.
Or hordes of Greek, Spanish, Italian immigrants could flood to the more stable nations creating a strain on the economies of those nations in turn and depressing the salaries of workers due to high supply.
People who created large innovative successful companies.
Bankers really believe that they have a clue, but they don't - not Bernanke, nor Dimon, Diamond (the LIBOR guy), Gross, LaGuard, Geithner, nor hedge fund guys, nor Romney... not to mention career-politicians...
Maybe time to try Cook, Page, Schultz, Bezos, Allison, Gates, Buffet or 50 others... any of them will do better, much better.
People who are proven-brilliant and have created massive growth and jobs, not people who blabber about it.
Sometimes I walk into my branch and talk to the kid-manager in his fancy suit and head full of opinions based on hallucinations, and think to my self - one day this guy could run the economy... unbelievable.
This kid-banker already decides the fate of small businesses in the area, any of whom with so much more experience and know-how than this banker-kid. and it's not his money that gives him this power. It's my money.
Something you wouldn't hear on Bloomberg TV, CNBC, the castles of the clueless Financial Sector.