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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (110084)3/30/2010 12:01:19 AM
From: Hawkmoon1 Recommendation  Read Replies (2) of 116555
 
Mish, I remember last year arguing the point that, despite how bad the US economy has gotten, most of these foreign socialist states are in far worse shape with regard to unfunded liabilities. Thus, while deserving of criticism, it was myopic to constantly focus on the problems in the US without comparing them to other countries.

It's good to see that I was correct.

Btw, I read something the other day with regard to Greece on Fool.com. They have a couple of guys there who were looking for sectors to short, but discovered that approximately 25-50% of the Greek economy is underground, unrecorded, and therefore, untaxed.

Therefore, if the Greek government can tap into these untaxed sources of economic revenue, they may not be in quite as bad a situation as currently perceived.

Of course, maybe leaving it untaxed is preferable.. ;0)

Hawk
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