Market Talk – November 29, 2024
ASIA: The major Asian stock markets had a mixed day today: • NIKKEI 225 decreased 141.03 points or -0.37% to 38,208.03 • Shanghai increased 30.76 points or 0.93% to 3,326.46 [...]
The Slow death of the Schengen Agreement
COMMENT: Marty; I can’t make it to Orlando. I waited too long to book and you are sold out. But I wanted to let you know your forecast that the Schengen Agreement would die is spot on as you say. The travel between Denmark and Sweden requires an id check because Sweden took too many terrorists who have made a mess of the place. You are able to forecast political, economic, and market trends like nobody else. You must wonder when will the world see that what you have been doing is the new age of forecasting.
NP
REPLY: Yes, the border checks between Denmark and Sweden are becoming prominent. Yes, the Schengen Agreement is coming to an end. As more and more terrorist attacks unfold and the security of Europe as a whole has been undermined, the failure to address the issue has only one outcome – the end of the Schengen Agreement.
Perhaps one day the world will wake up and see that we are all connected. But for now, our forecast models defy the political model. Politicians want to run making promises as if they can change the course of the local economy ignoring the global trend so vote for them. How do you run if you cannot make false promises?
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