By Mike Shedlock
Economic Slowdown ListEconomic Slowdown in the US: Non-Manufacturing ISM Plunges Below Prediction of All 73 Economists, New Orders Collapse
Economic Slowdown in Europe: Huge Cracks in Global Recovery Thesis; Industrial Production Unexpectedly Drops in Germany, France; UK Weaker than Expected.
Economic Bust in Australia: Near-Record Corporate Bankruptcies, Employment Drops Unexpectedly; Rise in Bad Home Loans; Record Low Property Transactions
Add China to the global slowdown list.Bloomberg reports Chinese Manufacturing Index Drops to Lowest Level in 10 Months
Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com/
MyView
US of A - credit creation is contracting, so, is the economic growth. According to Gary Shilling, unsold housing still high i.e. 2 to 2.5 million units and unemployment is high as well around 9%.
Europe - PIIGS debt problem
Japan - Tsunami and nuclear problem
China - Running inflation and reliance on construction
Australia - Housing Bubble is
BRICS - the moment the C slow down, the rest resources countries are in trouble.
MENA - chaotic, revolution
It is no coincidence when so many "bad" news are happening at the same time. Is it the end of the world, no, just another hurdle to cross. Most of the problem arises from unstopable credit creation over the last few decades & couple with derivatives casino establishments (of course due to human greed and corruption). Until this two major issues are resolve, there is high probability the world will slowdown generally.
The only solution that can be offered is to gradually deleverage and let the too big to fail, fail, period. No two ways about it, either way, one have to go through a tough time. Most politician prefer slow death than a heart attack.
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