from Armstrong Economics:
We are facing 2014 perhaps with blinders on as a society. Western investors have largely ignored the trend in Europe, Japan, and China and are more likely than not going to be dramatically surprised. In Chine, the high in the Shanghai market remains 2007 and new lows are still possible going into 2014. The cash crunch in China back in 2013 was important from the perspective of demonstrating the conflicting perception of China internally compared to externally. China is not the bulwark of economic growth that the world has suspected. Its retracement back to support has been bearish for the commodity markets as a whole.
The crisis in Europe not merely remains a major disruption to the entire world economy that again the public and general media have failed to grasp its potential significance. This Euro Crisis has the capacity to totally destabilize the world economy sending capital fleeing into the dollar.
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