Darkest before dawn, but a long night
How bad is this economy? Rather than get out of bed, it’s decided to roll over and sleep on. It’s too hard. Unemployment in the US is getting worse, not better. The European debt crisis lurches from one nation to another.
Countries like Australia and Canada that escaped the nastier side of the global meltdown are now struggling with shrinking consumer demand in two-speed economies. China might still be on a roll, but Beijing is trying to rein in excessive lending.
Most of this is unpredictable and out of our control. Is there anything we can be certain about? Take a look at this chart from economist, Bill McBride.
Click to read more ...