It’s the end of the world as we know it…and we feel fine!
India is booming. China is booming. The latest news from the Middle Kingdom tells us that its trade surplus is rising at a 56% annual rate.
Heck, even Argentina is booming. Its economy has been growing about three times faster than the US model for the last five years.
Last week, your editor and his old friend Doug Casey were invited to lunch at the American Club in downtown Buenos Aires. Our hosts were mostly men who have been living and doing business in Argentina for decades. They’ve seen it all – corruption, hyperinflation, defaults, chaos, riots, depression…you name it. “What’s the real story down here?” we wanted to know.
“I wish I could tell you,” said one gentleman from Texas. “I’ve been down here for more than 30 years…and I don’t know what’s going on. Nobody does.”
“I work in the government,” said another young man. “And I can tell you, they don’t have any idea. It is an incredible, unbelievable mess. Everything is spin…not substance.”
“Hey…how’s that any different from the United States?” asked Doug.