Long-term the U.S. has many innate strengths over Europe, but Taylor (who heads the world's largest currency hedge fund) is bearish on 2012:
The year should see a global recession, led by the Europeans, but the US, the Australians, the Japanese, and the Chinese (probably in that order) will all do their part to make this a year we will all want to forget.
On Europe:
For the Europeans, there is a very good chance that the next 12 to 18months will be the worst financial experience since the Depression and the worst experience of anytype since World War II.
He likes the Dollar over the Euro:
Two years ago in one weekly we suggested that Germany leave the euro and in another we suggested that Greece get out as quickly as possible. Now it is too late and the die has been cast. We like the dollar.
The year should see a global recession, led by the Europeans, but the US, the Australians, the Japanese, and the Chinese (probably in that order) will all do their part to make this a year we will all want to forget.
On Europe:
For the Europeans, there is a very good chance that the next 12 to 18months will be the worst financial experience since the Depression and the worst experience of anytype since World War II.
He likes the Dollar over the Euro:
Two years ago in one weekly we suggested that Germany leave the euro and in another we suggested that Greece get out as quickly as possible. Now it is too late and the die has been cast. We like the dollar.
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