The most recent “Weekly Charts” report from Variant Perception (no link) included the following summary of budget balances as a percentage of GDP for the world’s leading economies. Norway is notable as you can see in the chart….
It reminded me of an e-mail Nick Gogerty sent me earlier this year, arguing that an investment in Norwegian Krone was a good “oblique position” and could be a winner. By “oblique position” he means one that “benefits from a macro event, but is a derivative or indirect recipient of that event
Read the whole story at Reuters >>
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See Also:
- Has The Stock Market Finally Woken Up To The European Crackup And The Surging Dollar?
- Why Nouriel Roubini’s Case Against Gold Is Wrong On Every Count
- Moody’s: The Coming Sovereign Debt Crisis Of 2010