Grand Rapids, MI -- (ReleaseWire) -- 06/18/2013 -- Financial advisor Dennis Tubbergen can usually be found helping his own clients. When he has a little free time he is busy writing his daily blog, his monthly newsletter Moving Markets or interviewing his next guest expert for his weekly radio show.
Tubbergen's next guest on the Everything Financial Radio Show is Ian Gordon of the Longwave Group.
The son of a British military officer, Gordon graduated from the Royal Military Academy at Sandhurst. Four years later, Ian immigrated to Canada where he entered the History Department at the University of Manitoba. During this period he began to study the historical trends that ultimately provided the foundation for his Longwave theory.
Gordon entered the financial realm in 1982 as a stock broker. In 1998 he determined the Longwave Theory was too compelling to ignore and he began writing the Longwave Analyst and re-entered the sales side of the business. He claims the same Longwave principles that have guided him for the past decade are just as relevant today as they were a decade ago.
Tubbergen, who is an author, radio show host, and CEO of PLP Advisors, LLC, spends a lot of time giving his opinions on the economy in his online financial blog. On June 12, 2013 his blog was titled Eurozone Sinks Into Deepest Recession Ever.
"In the Eurozone, economic activity contracted for the sixth consecutive quarter," began Tubbergen.
Below he quotes from a May 15, 2013 article in The Guardian.
The eurozone has slumped into its longest recession ever, after economic activity across the region fell for the sixth quarter in a row.
Economic output across the single currency area fell by 0.2% in the firts three months of 2013, statistics body Eurostate reported on Wednesday. France, Spain, Italy and the Netherlands all saw their economies shrink as the economic crisis in the eurozone continued to hit its largest economies.
Eurostat's figures showed that the eurozone economy has contracted by 1% over the last year, putting further pressure on leaders as unemployment climbs to new record highs. The 0.2% contraction in the first quarter was an improvement on the 0.6% drop recorded between October and December, but analysts warned that the eurozone's economic outlook is darkening.
"What seems incontrovertible, on this evidence, is that the member-states of the eurozone are on the wrong track," commented Stephen Lewis, chief economist at Monument Securities. "The costs of the zone's one-size-fits-all strategy are becoming brutally apparent."
France was dragged back into recession by a 0.2% drop in GDP, announced on the first anniversary of Francois Hollande being sworn in as president.
Pierre Moscovici, French finance minister, denied Paris's forecast of 0.1% growth was too optimistic. "I'm sticking to the figures," Moscovici told reporters, adding that the EU must prioritizse growth over tackling budget deficits.
There was also disappointment that Germany eked out growth of just 0.1%, worse than economists had expected. The Dutch economy shrank by 0.1%.
"The bottom line is that both the German and French economies, which together account for half of the eurozone's output, are in the doldrums," said Nick Spiro of Spiro Sovereign Strategy. "Add in the persistent recession in the Netherlands, which accounts for a further 6.5% of eurozone GDP, and the core and semi-core of the eurozone are in significantly worse shape than a year ago."
Italy's new Prime Minister, Enrico Letta, was given an early reminder of the challenge he faces with the news that Italian GDP fell by 0.5%. Italy's economy has been shrinking for the last seven quarters, its longest recession since at least 1970.
Beyond the eurozone, the Czech Republic suffered a 0.8% decline in GDP during the quarter.
The data came a day after the Washington-based Pew Research Centre reported that public support for the European Union had fallen over the last year, from 60% to 45%. Pew warned that the ongoing financial crisis means the European project was "in disrepute" in some countries, with many Europeans losing faith in closer integration.
"The recession in the Eurozone has stretched to one and a half years," explained Tubbergen. "Given that monster debt levels in Europe still exist, this recession will continue long term and intensify. I believe a study of history confirms this. With worldwide debt levels at nosebleed levels, the only possible outcome is recession and deflation."
To read the blog in its entirety go to http://www.dennistubbergen.com and select his June 12, 2013 entry.
About Dennis Tubbergen
Tubbergen’s syndicated radio show can be heard on metro Michigan stations WTKG 1230 AM and WOOD Newsradio1300 AM and 106.9 FM. Dennis Tubbergen has been in the financial industry for over 25 years and has his corporate offices in Grand Rapids, Michigan. Tubbergen is CEO of PLP Advisors, LLC and has an online blog that can be read at http://www.dennistubbergen.com. To view Tubbergen’s latest Moving Markets? newsletter, go to www.moving-markets.com.
The opinions expressed herein are those of the writer and not necessarily those of USA Wealth Management, LLC. This update may contain forward-looking statements, including, but not limited to, statements as to future events that involve various risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual events or results to differ materially from those that were forecasted. Therefore, no forecast should be construed as a guarantee. Prior to making any investment decision, individuals should consult a professional to determine the risks, costs, benefits and fees associated with a particular investment. Information obtained from third party resources is believed to be reliable but the accuracy cannot be guaranteed.