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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: LindyBill who wrote (32578)	9/29/2000 3:32:19 AM
From: Bruce Brown	Respond to of 54805

I am a little worried that Europe could suck us into a recession. Asia looks strong, but your part of the world is really committed to consuming more than they produce. Austria has never produced anything. There seem to be more American companies here than Austrian. Yes, most ski chair lifts are made here, some good skis, chocolate, coffee, wine, cigarettes, etc... . However, the history of Austria is one of living off of others work. That goes back several hundred years to the class system which still exists here today. They are forever the conservatives and skeptics when it comes to industry. I can't answer for the rest of Europe, as I'm here in a beautiful country of 7 million people eating schnitzel. Hey, Europe is great at producing unions, long vacations, high taxes (50% is my income tax rate), great pensions and fast cars. Outside of that, I'm ill equipped to discuss the economics. I just know that the banking industry, the grocery store chains and some of the large department stores here in Austria are being consumed by larger outfits from Germany and the UK left and right. It seems like every month I go to a grocery store or a bank, it has a different name. That is due to the European Union opening up these types of mergers and acquisitions. There are pros and cons of that effect, but just as it swept through America over the previous decade and improved productivity and the corporate culture, the same result might benefit on this side of the pond. It takes time. The consumer will benefit, but the unions are a huge barrier to entry. If Europe sucks the world into a recession, it's not my fault. I've been doing my part to spend my Schillings and entertain the tourists as they pass through the opera house. <ggg> BB@BeHappyYou'reNotPaying$5aGallon.Let'sDrive100MPH