Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

the US is Turning Into europe

|Includes: CSCO, Intel Corporation (INTC), MSFT, ORCL

The US is turning into Europe. Think high taxes, chronic high unemployment, more government involvement in everything, less innovation, and much lower growth, in exchange for a social safety net and better coffee. That is the message the markets told us by retreating to the 6,000 handle in March, levels not seen since 1996, and down 54% from the 2007 peak. Equity prices are shrinking to multiples, in line with a permanently lower long term growth rates of maybe 1%-2%, a shadow of the 5% rate seen for much of this decade. Perhaps this is what mature economies are supposed to look like. If someone is holding a gun to your head and you must buy American stocks, only select names that get the bulk of their earnings from overseas. Microsoft (NASDAQ:MSFT), Intel (NASDAQ:INTC), Oracle, (NYSE:ORCL), Cisco (NASDAQ:CSCO) all get 60%-70% of their profits from overseas, where up to 90% of the real economic growth will come from for the next decade. Commodity and agricultural companies and ETF’s also fit this picture. As for me, I think I’ll move to Tahiti and live off of coconuts and freshly speared fish, wearing only a loin cloth. Anything is better than becoming French.  &nb...