Financial Destruction Will Be Unleashed On Global Economies
November 3, 2013
On the heels of more wild trading action across the globe, today 40-year veteran Robert Fitzwilson warned King World News that financial “destruction” will be unleashed on global economies. He also discussed what this harsh reality means for investors and what they can do to protect themselves. Fitzwilson, who is founder of The Portola Group, put together the following tremendous piece below for KWN readers around the world.
By Robert Fitzwilson of The Portola Group
November 3 (King World News) – “Financial Destruction Will Be Unleashed On Global Economies”
What should not have been a surprise last week was the Fed announcing that their purchases of $85 billion per month were to continue. In fairness, the Fed has been consistently saying that any tapering of these purchases would be data dependent. Now that the data dispensing machine is back in action after the temporary resolution of the debt ceiling impasse, most of what has been reported so far continues to reflect overall economic weakness. There are a few bright spots, but global economic activity continues to languish in states of stagnation and atrophy….