A few years back, the “Don’t Worry, Be Happy” crowd bang the drums on why investors should load up on the “BRIC” nations (BRIC is a grouping acronym that refers to the countries of Brazil, Russia, India and China).
How’s that working out? Brazil is having its worst recession/depression ever. Russia seen its currency hit an all-time low. India miracle was a fable, while China is imploding before our eyes.
Of course many of those same “happy” people touted the good old USA as the #1 economic engine that somehow will go back to pulling the world’s economies again (or at least run fast while the others sputter). How’s that working out?