Market Currents
With the focus so strongly on Europe, it has been easy to miss the data pointing to economic...
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Friday, May 25, 2012, 1:40 AM ETWith the focus so strongly on Europe, it has been easy to miss the data pointing to economic trouble in China, India, South Africa, Brazil and elsewhere. The specter of renewed crisis looms large if activity is slowing in sync around the globe and not just in isolated regions.
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This news story has 2 comments:
Who is going to be buying goods from China, Vietnam, Thailand, India, South America...? Where is the catalyst for growth?
I don't see it.
From 2001 we're been lying to ourselves about increasing debt and commodities bubbles were GROWTH. DEBT bubbles are not growth. They are only growth in the FABRIC of the economy, air pockets, which then pop.
Hard landing for the global economy is still coming. 'Rock bottom' means a hard-landing, means 'coming down to earth'. Are we 'down to Earth' now? Well, look at JP Morgan recent behavior; and look at FaceBook IPO behavior. We have a lot more falling to do. And with a stronger US Dollar seeming to be guaranteed by the collapse of the Euro, stocks will also continue collapsing.