Welcome to the New World Emerging Economy – 07/25/11

Dear Ladies and Gentlemen,

For Your Entertainment (FYE)

http://www.cnbc.com/id/43874934

“Debt default. A ratings downgrade. Political deadlock. Such terms, once associated primarily with the developing world, now abound in the mighty United States.”

“”We attend a lot of meetings with Latin Americans and we used to complain to them about the problems they had, and now they like to say to us: ‘That sounds just like the U.S.’,” said Peter Hakim, head of the Inter-American Dialogue, a policy group in Washington.”

“Haag Sherman, managing partner at Salient Partners, an investment firm in Houston, Texas, said the angry tone of U.S. politics harked back to the early days of the Republic, when the United States really was a developing nation.”
“”We were an emerging market then, and you have some of the hallmarks of an emerging economy today: increasing concentration of wealth, an entrenchment of the political class,” he said.”

 

I am afraid, it needs to get a lot worse, before it gets better, unfortunately……..:+(
Big Hugs and Kisses to All! ;+)

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