Are you concerned about the U.S. economy and markets? Take a look at Europe: "This week’s mini-crash will likely prove to be just a small taste of the European stock market’s future." So writes our European analyst Brian Whitmer in the August issue of The European Financial Forecast. Brian has raised the red flag on Europe's sovereign debt crisis as a warning about what can happen in the U.S. The best way to understand what's in store for the U.S. is to read his analysis of what's happening now across the Pond. Brian answers three questions in this preview of what his subscribers will get in their newest issue of The European Financial Forecast.
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Question: The economies of both Europe and the United States are on edge. How are they alike?
Brian Whitmer: One word: DEBT. There’s too much of it, and European economies are suffocating beneath it. It’s a blueprint of what’s coming to many U.S. states and the country as a whole.
Question: What are the three big areas you cover for your subscribers in this latest issue of The European Financial Forecast?
Brian Whitmer: First, we now have the clearest evidence yet that the March 2009 low did not end Europe’s bear market. This observation is giving our longest-term wave count a tremendous amount of credibility. Second, the biggest European banks are all but imploding, which will have consequences that extend far beyond the Continent. Lastly, Europe’s largest economies are now getting sucked into a sovereign debt crisis. If we’re right, this will have huge implications for the euro currency and the monetary union itself.
Question: Why do you think it's worth it for investors to track Europe's markets even if they mainly invest in other markets?
Brian Whitmer: It’s worth it because Europe is running well ahead of the U.S. in this phase of credit deflation. I don’t know why this is the case, but, for more than a year, European markets have provided U.S. investors with the closest thing they’ll ever get to a crystal ball.
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Brian Whitmer is editor of The European Financial Forecast and contributes the European stock section of Global Market Perspective. He earned an MBA from Georgia Southern University and joined Elliott Wave International in 2009. He was recently interviewed by Financial Times and has also been interviewed by Yahoo! Finance and Fortune.
EWI's Forecasts for European Markets -- See How They Foreshadow What Will Happen in the U.S.
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