Tuesday, May 17, 2011

Bearish on the US and UK

“The US has peaked in relative power, if not absolute power as well,” Jim Rogers says. He believes the US is now on a post-empire downward trajectory of sorts, analogous to the UK last century.

“Around 1918, the UK went into decline. By the mid 1970’s, it was bankrupt.”

“Starting in 1979, it experienced a bounce-back rally of sorts – thanks to their oil fields in the North Sea. Most people give Maggie Thatcher credit for their comeback, but the real white knight for the UK was the North Sea oil discovery,”
in www.minyanville.com