Carlos Slim on Europe – “It is time to make some adjustments to this welfare state”
By now everybody knows Europe is in big trouble. Carlos Slim shares some thoughts on what Europe needs to “fix” in order to come back. For starters, forget the sunbathing at 60. From El Pais.
Slim, founder and honorary chairman of the business conglomerate Grupo Carso (Telmex, América Móvil, Sears Mexico and others) and declared by Forbes magazine the wealthiest person alive since 2010, has this piece of advice for Europeans: “What Europe must do is two things: sell assets to reduce its debt and deficit levels, and also invite the private sector to make the kinds of investments that the state no longer needs to make.”
Question. You recently stated in an interview: “You read the numbers, and the numbers tell you what’s going on.” So what do Europe’s numbers tell you? What’s happening there?
Bubbles, Ponzis, smart money and when crowds go Mad.
It is not a surprise that people think in herds. Below is a great weekend video by Grant Williams on the history of bubbles, and his view on the next bubble.
Government bonds (which are set to burst) and gold (which is getting ready to enter the mania phase).
Video below.
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