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Global Market Crash Inevitable: World Economies Heading Into Recession, Falling profits and Raising Taxes EVERYWHERE
Europe Goes Red, As S&P Whacks Growth Forecast
S&P has just whacked its growth forecast for Europe.
It now sees a contraction of 0.8% this year, and 0.0% growth next year.
European markets have gone red.
Italy’s benchmark FTSE MIB had been up slightly earlier in the day, but is now down 0.6%.
S&P says new recession hitting euro zone
Standard & Poor’s Rating Services on Tuesday pared down its economic forecast for the euro zone in 2012 and 2013 in response to indicators that “paint a bleak picture” for the region. “The data are confirming our view that the region is entering a new period of recession, after three quarters of negative or flat growth since the final quarter of 2010,” according to Jean-Michel Six, the rating agency’s chief economist for Europe, the Middle East and Africa.…
Global Growth Has Collapsed
The below chart comes from Morgan Stanley’s latest Strategy Forum deck, and though it’s simple, we suspect a lot of people haven’t seen it yet, or really haven’t made the connection between the chart and other big economic stories of the day.
This is the chart that’s causing warnings from FedEx.
This is the chart that’s contributed to the collapse of the Shanghai Composite.
This is the why the Baltic Dry Index is down 60% this year.
It’s why US manufacturing indices are giving off the weakest signs of the economy.
If the US goes into a recession
in the next year, this will almost certainly be why.
