China economist He Qinglian is convinced China is in a recession
China’s economy has driven itself into a hopeless condition, given its system (political and economic), according to He.
Toy exports, given stricter testing requirements, are no longer profitable. Concerning the real estate and the stock markets, many years of inflation have already caused the bubble to [...]

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Three issues will dominate the final quarter of 2008: the global financial crisis, U.S. self-absorption and the Russian resurgence.
The financial crisis has its roots in an American liquidity meltdown. But as the days flow by, it will become obvious that the crisis is evolving as it spreads to the rest of the world, and its [...]

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One source of angst is the sorry state of American capitalism (see article). The “Washington consensus” told the world that open markets and deregulation would solve its problems. Yet American house prices are falling faster than during the Depression, petrol is more expensive than in the 1970s, banks are collapsing, the euro is kicking sand [...]

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Spain’s economy is in trouble. Rising property values earlier this decade lured many Spaniards into the market. Now that the bubble has burst, the crisis is quickly spreading through the country’s economy. By Reiner Wandler in Madrid more…

Photo Gallery: Housing Market Crisis
Sliding into Recession: Economic Tempest Overtakes Europe
Housing Market Slump: Britain’s Homebuilders Get Bloodied
Real Estate [...]

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I have serious doubts that the West will look anything like it does today in 60 years. I mean demographically it will be significantly reduced in size due to war. First think about the rise of China and the re-emergence of Russia. Next think about the rise of Islam. These are the storm clouds forming [...]

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That would be consistent with a recently published report by Merrill Lynch Chief Economist David Rosenberg suggesting a 100% probability of a recession. Reading from his latest writing:
“We recently unveiled a new recession probability indicator that uses the shape of the yield curve (10-year note/3-month LIBOR) and corporate spreads (Baa) to predict the probability of [...]

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