The world is settling into three major blocs, and only one is especially interesting from an investment viewpoint. The first bloc is Europe, which includes the expanded European Union and will eventually include Russia and the UK. The problems in Europe are well-known. The population is aging, the economy is mature, the continent is burdened by an accumulation of socialist policies, the entrepreneurial spirit is dampened by regulation and bureaucracy, and people put living the …showed first 75 words of 583 total…

…showed last 75 words of 583 total…with only modest job increases. That's another thing that's different this time, but the key difference is that fiscal and monetary stimulus have not produced an economic surge, although the US culture is one where you put $100 in someone's pocket and they go out and spend $1,000. The US market, however, probably has one last run. Excess capacity and improved productivity will prevent inflation from becoming a serious problem for a while, but trouble is ahead.