September 03, 2012

As the world economy turns

It's been discussed as a possibility for months, Greece leaving the eurozone, but now big banksters are acting like it's soon to be real.

If it does happen, the world will not come to an end, though the banksters will stoke fears, because their world will take a ding indeed.

Meanwhile, China, fearing creating property or other "bubbles," is disinclined to stimulate its own economy, at least for now.

Meaning for the US? More slowness of growth ahead, not enough to induce a recession, but enough to continue the lost decade a bit longer.

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