- The $2 Trillion European Bailout Package Is Coming!
Today Jeffrey Saut spoke with King World News about gold, a $2 trillion bailout in Europe, and what investors should expect going forward. Saut, who is Chief Investment Strategist for $360 billion Raymond James, had this to say about discussion of a $2 trillion European bailout: “I had mentioned that in the past, and that’s the kind of bazooka you need to pull to try to at least get over the short-to-intermediate-term funding problems.”
Here is what Saut had this to say: “I have said it, politicians, bureaucrats, and bankers are the same in Europe as they are here. They do not want to lose their power, and if the EU implodes, they all lose their power. So I think they are going to continue papering over the situation, and try to buy more time, just like we did here in our ’07/’08 financial fiasco.”
“Whether it’s going to be successful in the long-term is a very good question that I don’t have the answer to. The major problem is you can’t have 17 countries with a common currency, without having a common fiscal policy. They never got that, so you have this complete misallocation of capital into the Mediterranean countries that left them totally uncompetitive with the Germany’s of the world…..