Don Coxe: "This Is the Worst Trading Situation I Have Ever Seen"

will be at within five years. The Spaniards and Italians are doing a better job of dealing with their debt by far than the United States is.

TGR: Is international capital fleeing from North America?

DC: I don't think international capital is so much fleeing from North America as it is trying to find some places where it can get a better return. There's no question that in some cases, it's buying assets in emerging countries. "The Scream" is not one of the world's greatest pieces of art and yet it recently sold for an all-time record price at auction: buying art is just a place to bury cash.

TGR: Maybe "The Scream" will appreciate!...