Originally Published by Liechtensteiner Vaterland—February 11, 2008
The world’s stock markets experience a decline. Sharp drops of shares occurred in Hong Kong, Istanbul and Frankfurt, and many seem to blame the United States and the market approach as the causes for their predicament.
Commentators now predict a serious global recession for all markets. The U.S. is singled out with additional forecasts promising a steep drop of the U.S. dollar, sharp reductions in U.S. military strength and vanishing of U.S. political influence. Alas, these commentators are sadly mistaken.
All too often, forecasters are looking ...