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Here are a couple of charts to consider courtesy of Steen Jakobsen, chief economist at Saxo Bank in Denmark.
European Demand Deposits
Clearly capital flight is taking place in a major way in Greece and an important if relatively minor (for now) way in Italy.
Global Equity Performance
click on chart for sharper image
Don't expect the same degree of out-performance from US equities in 2012.
Mike "Mish" Shedlock
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