Capital Flight From America
Some Americans may take quiet satisfaction from the euro’s slide. After all, this is a case of private Europeans (corporations, institutional and personal investors) voting with their money in favor of the United States. In 1999 Europeans bought about $200 billion worth of U.S. stocks and bonds. Corporate takeovers of U.S. firms added to the total. Many Europeans see America as an economic and technological wonderland. They want in on the action....