Is fiscal clarity coming?

December 3, 2012


Markets are watching nervously as U.S. lawmakers debate various tax and spending proposals, while Europe continues to grapple with steep debts in countries such as Greece, Italy, and Spain.

In Vanguard's latest analysis, Chief Economist Joseph H. Davis, Ph.D., and Senior Economist Roger Aliaga-Díaz, Ph.D., discuss how to respond to the fiscal challenges and economic uncertainty on both sides of the Atlantic.


  • All investing is subject to risk, including the possible loss of the money you invest.
  • Diversification does not ensure a profit or protect against a loss in a declining market.
  • Past performance is not a guarantee of future results.

Get our research & commentary

Advisor's Digest

A weekly digest of our latest research and commentary. Topics include the economy and markets, portfolio strategy, ETFs, and practice management. Vanguard's Economic Week in Review is also included with every edition.


Fund openings/closings, fund manager changes, dividend distributions, webinars, and other events you might want to know about.

Learn more


© 1995–2014 The Vanguard Group, Inc. All rights reserved. Vanguard Marketing Corporation, distributor. Your use of this site signifies that you accept our terms & conditions of use.