Newport, Rhode Island, is a wonderful place to visit this time of year. The crisp air is rejuvenating. The sun reflects brilliantly off the water. And after the craziness of summer, the less crowded streets make it a great port of call. A new ship seems to be here daily—like the beautiful Queen Elizabeth 2, which visited recently.
This is also a great time of year to have a business event in Newport. The other day, I was invited to be the guest speaker for a business group. Below are a few charts I discussed with them. These charts tell the story of a country in over its head, in the midst of a nonexistent housing recovery, with a currency that’s been in decline.