Andy Warhol SunsetAndy Warhol So SlowAndy Warhol Shot Orange Marilyn 1964
many more Euros now than it did early this year. This principle applies to everything that is bought abroad by European countries. Why do we Let's make this simple. Take your neighborhood and use the housing market as an example. Ever had a "soft" market for is the last person you want to consult about what is going to happen in the real market. Most of them don't know the price of a loaf of bread and quart of milk. They will quote you econometric formulas until they are blue in the face and no two of them will agree on anything.
Until the underlying economies of the European countries strengthen with values in your area? Of course you have. Everyone has. So the local real estate boards decide the way to keep prices from going down is to buy houses as they come on the market at the current prices even though the real values continue to slip lower. What happens? Immediately prices strengthen, but slowly they start to weaken boards run out of money and suddenly when the artificial buying ceases the market collapses to a lower price than where they started their "intervention". Brilliant strategy!As I have said in my book an economist
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