If I read this chart correctly, the DAX index, measured in dollars, more than quadrupled from 2003 to 2008, then was roughly cut in half, before recovering of late.Holy Moly!One might forgive German investors for feeling that perhaps bonds or property make sense. Retirement planning, anyone?
You can only contaminate so many sovereign balance sheets before the game of hot potato ends.If Germany was smart they would bail from the EU sooner rather than later. The structure was designed for the great moderation, not the sovereign default era.
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