Posted May 15, 2013 by Martin Armstrong
The economic prospects for Europe are impossible to return to any real recovery. We are looking at a long-depression for Europe that will not bottom for 23-26 years from the 2007 peak making this turn only with the end of the current Private Wave in 2032.95.
German politicians cannot grasp that imposing austerity that has led to hunting down the “rich” is not foreclosing any future job growth in Europe and is reducing the market for their own production. Without Europe to sell their goods, Germany will also collapse into a deep recession. It is hard to imagine why politicians are mentally so challenged. Their self-interests and taste for power prevents them from ever seeing a solution that involves themselves.