The European Debt Crisis on 60 Minutes
Here on the Fabian Wealth Strategies blog and podcast, we’ve talked frequently about the European debt crisis so you might be sick of hearing about it. However, while our listeners and readers might have been hearing a lot about this topic, many mainstream news-readers probably hadn’t before this week’s 60 Minutes special “An Imperfect Union – Europe’s Debt Crisis” aired.
It’s very accurate and definitely worth watching, in our opinion. If you have a few minutes, take some time to click through the link and watch the video on CBS.com.
This debt crisis discussion is important to pay attention to, not just because Europe is an important economy in the world, but because the U.S. is headed for a similar problem if we don’t get our deficit spending under control. Deficit spending is usually 2-4% of the economy, but right now the U.S. is spending at 9%, and coming up against the limits of our credit lines. Plus, there is currently a lot of artificial stimulus from the federal government in the economy, and taxes are going up next year – both aspects which are causing some anxiety in the markets.
We think that the European debt crisis will be a critical player in the next few year’s investing plans. Markets, internationally, tend to move together, meaning that the European markets can’t falter without impacting other regions in the world.
(If you read this blog and enjoyed it, listen to Doug’s podcast this week for even more details on these topics, and please share this information with others who might benefit from our perspective.)
