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July 4, 2012

“It’s the Economy Stupid”

The title of this “Quarterly” was a popular campaign slogan used by Bill Clinton in his first presidential run and something that investors would like to see adopted by most of the world’s leaders today.

Concerns over European sovereign debt are still acute but slowing economic growth in China, the United States and elsewhere have bumped it off the top of the leader board as the number one concern. In fact, investors are starting to appreciate that the possibility of sovereign debt defaults are directly linked to economic growth and further European economic contraction will likely drag the rest of the world’s GDP down with it.