Bucking conventional American "wisdom," NineShift is predicting the Euro will rise around 2015 and hit $2 U.S.
It might then fall back to around $1.75 but it will stay in that range until around 2025, when the United States finally gets its economic act together.
The reason: Europe is building an infrastructure to support the knowledge economic and knowledge society of the 21st century. On the other hand, the United States is not.
Europe is building trains, has health insurance, actually uses the term "knowledge worker," has low defense costs, wastes little in prisons, is safer, people there have a higher savings rate, and they at least have set a direction towards getting more of their young people a four year college degree.
We have to wait until 2025 for things to start to come together? That's pretty useless for me; I'll be 70 by then, if I live that long--if this country even has that long.
Posted by: D. P. Lubic | February 10, 2011 at 10:56 PM