Is History Repeating Itself?

In the News (from TheMarker): “Analysts are becoming more pessimistic about the present situation in Europe.”

Dylan Grice, a research analyst at Société Générale’s Global Strategy Team: “… compared Germany’s policy today against the policies that enabled the rise of Hitler. Specifically, he said that post-Weimar, Germany became too aggressive about fighting inflation, thus prompting deflation, thus prompting more unemployment, thus enabling the rise of the Nazis.”

Bob Janjuah, strategist, Nomura Bank “said that any talk of the ECB saving Europe was a mere pipedream.”

Jim Reid of Deutsche Bank: “If you don’t think Merkel’s tone will change, then our investment advice is to dig a hole in the ground and hide.”

George Goncalves, Managing Director and Head Of Us Interest Rates, Nomura Securities: “We could be approaching the point of no return for the fate of the euro… We still believe there is time to prevent worst-case scenarios, but these sort of watershed moments reveal one thing, that market practitioners are ill-equipped to navigate the political process, especially one that is driven by 17 different governments.”

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