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Remember Budapest, Hungary??

Many of us experienced the inaugural m3 together. No doubt about it…one of the best experiences of a lifetime. Hungary is a truly beautiful country that has rebuilt itself, time and time again, from more wars than most can even ...

Posted On October 22, 20082 MIN Read
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Many of us experienced the inaugural m3 together. No doubt about it…one of the best experiences of a lifetime. Hungary is a truly beautiful country that has rebuilt itself, time and time again, from more wars than most can even remember. That may be happening again soon…however this time it will likely be an economic war.

The news hitting the markets on Hungary now is plain scary. Monetary inflation is kicking in big time and they have been forced to raise their key interest rates over 3%... in ONE day… to over 11.5%.

The reason? Mounting debt (along with the local printing press) is putting significant pressure on the Hungarian economy, and their hope is that this move will strengthen their currency and head off a massive inflationary buildup.

So, why did I go to the trouble to point this out via an update? Why is it such a big deal? It will likely be a microcosm of what’s to come throughout Europe, and ultimately here in the US as well. If you’re getting a flashback to life ...

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