This just makes me wonder if European austerity has become a headwind for the BRIC countries as well as the rest of the world?
It’s a matter of degree. The EU headwind is real and will cause some turbulence, but for investors who take a LT view, The Global Demographic Tailwind will end up overpowering it.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”