BRIC vs. PIGS from Ritholtz
July 9, 2008
I really like the post on Barry Ritholtz’s blog The Big Picture , so hopefully he doesn’t mind that I republish it
BRIC vs PIGS
Posted by Barry Ritholtz on Wednesday, July 09, 2008 | 09:15 AM
I was at a lunch recently with about 10 people. One of the participants was an analyst from Portugal — smart guy, delightful accent.
The table was discussing the BRIC countries — what a tiresome acronym THAT has become — and our Portuguese pal mentioned the PIGS countries.
PIGS? What the heck is a PIGS?
It turns out that PIGS stands for Portugal, Italy, Greece & Spain — P.I.G.S.
Why so crude an acronym? They are all in, or on the verge of tumbling into, a recession. Their significance is that they are the soft white underbelly of Europe. While not as economically important as Germany or England or even France, they are still a substantial chunk of nations, consumption and output for Europe. Our dashing Portuguese analyst expects their slowdown to spread to the rest of Europe.
PIGS: Now you know.
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July 9th, 2008 at 4:13 pm
Well, since you asked — I prefer a headline and a few paras, not the full post.
Besides, doing that is TERRIBLE for Your Google score.
October 27th, 2008 at 4:34 pm
I don’tbelieve the “PIGS” are anything to worry about all of these countries have very resilient economies and willnot undergo negative growth for any long period of time!!