All Eyes on Europe…
By: Jonathan M. Lamb. Jonathan M. Lamb is an Economist, Consultant, and Entrepreneur that resides in the Research Triangle of North Carolina.
Last week could be the most unreported story of our lifetime. When the Swiss National Bank discontinued their minimum exchange rate in the middle of the night (United States Time), it was a bit more of an interesting story here in the US rather than breaking news. As an economist it was a HUGE story! This is a very big deal. I am not a sky is falling kind of guy, but this is beyond a “Black Swan” event, this is a flock of Black Swans that drops out of the sky and blocks out the sun. This will be an event when we look back in history that will be the first of a very major chain in a series of economic events that will be felt for years to come. This is like the bullet that shot the Archduke Franz Ferdinand, history will look back at the Swiss as the first in a series of events that we will be studying in economics for a longtime to come.
So what does this mean to me? Well…maybe not much, but then again…
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