The comments below are an edited and abridged synopsis of an article by John Mauldin
Most Americans never visit Europe, and that’s okay because the US has a lifetime of sights to see. But it does affect their perspective on the world. Many don’t fully grasp how important Europe is to the US and global economy.
The US may soon get a lesson on that. Europe has many problems, and events are coalescing such that several potential crises—all major on their own—could strike at the same time, and not too long from now. There is no reason for the US to have a recession on its own. Events elsewhere will push the US into it,and Europe is a big current risk.
However, another concern is that the various actors in Europe are not playing nice with each other. The same forces that gave the US Trump as president are coming to aEuropean country soon. In some places, they already have.
Mauldin reviews what’s happening in Europe under the following headings: monetary drug withdrawal; European disunion; and trade threats.
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