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The various crises around the world make predicting anything very difficult now. It is clear N Korea just wants more attention and payoffs, and China is happy to have us support the north so they don’t have to. In the end it is likely that situation will continue with no change and periodic flare-ups. Europe and the Euro is another story entirely.

It is clear the PIIGS were gluttons and they will go back to being small counties with troubled economies for many years. This is nothing new for them or Europe. There is a history of these sorts of problems going back hundreds of years. Europe is yesterday’s news and the decline of the area will continue unabated. The world is shifting its epicenter and Europe is destined to not be a major factor in the economic events of the future. Germany will be a factor, and the UK will retain some impact, but the rest of Europe simply is a sideshow.

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