While all of the attention seems focused on the USA due to our presidential election, the world economy may be what matters most–and nothing that the next president of the United States can do will necessarily save the entire world from itself.
Take Europe as an example. Europe has been careening toward crisis for two years now. The European Union has repeatedly applied band aids in attempts to correct the underlying problems, but those band aids have never been enough.
Now we are in a situation where two of Europe’s problem nations, Spain and Greece, both have unemployment at over 25%. These are simply depression levels. And even supposedly, relatively healthy Britain now has unemployment at record levels.
In today’s interconnected, globalized economic and financial system, there is simply no way that the acute problems in Europe can be limited to Europe. Make no mistake, their presence will be felt here in the US, in our financial markets. Many US companies are dependent on overseas markets for sales of their goods and services. Others are dependent on overseas markets for equity ownership stakes.
The continuing European crisis is one which investors cannot ignore. They must diversify into assets that have historically performed well when other assets suffer. Gold investments are ideal for that purpose.
Spain Joblessness Reaches 25%
Greek Unemployment Rises Above 25%