Saturday, February 22, 2014
Much like a perfect storm at sea is the consequence of three converging bad weather fronts, three significant global economic trends have begun to intensify and converge in recent months.
1. a slowing of the China economy and a growing instability in its shadow banking system;
2. a collapse in emerging markets currencies (India, Brazil, Turkey, South Africa, Indonesia)
3. a continued drift toward deflation in the Eurozone economies.