Rolling Over

Overnight, the Japanese government admitted – in a roundabout way – that the Japanese economy was back in recession. Germany reported this morning that order books for its industries, including its exporters, had shrunk significantly providing ample confirmation that the Eurozone is back in recession. In China, the housing bubble has burst although economic growth is still being reported.

Here in the US, the bond market is off and running as it smells trouble and commodity prices are sinking. Of course, the stock market continues blithely along believing that every other market is out of step. I suppose.

Post a comment or leave a trackback: Trackback URL.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: