The global economy is like an elephant, it is coming in terms with its center of gravity. One legged elephant, meaning US, that it has been, is now finding it's other legs in Europe, China and India. It needs time but it eventually will settle down. A lot of markets will suffer, a lot of inflation and in some cases, over-heated economies might flirt with deflation as well, but it will settle down.
Anyways, I blog about it a bit, from my own experiences, on ITtoolbox:
We are going in a recession. I have been screaming about it for quite some time. I have been born and brought up, as a professional, in this increasingly flattening global economy. I draw an analogy of global economy being an elephant which has been an big fat beast standing on one thick leg, the US economy. What is happening now is that this elephant is unfurling its other three legs. They are Europe, China, India (feel free to disagree with the legs analogy with me here). This is obviously creating a lot of unrest, investors are upset, Feds are under fire, Mortgage market is a drama, Oil prices are shooting, US dollar is devaluing (Fresh from Bloomberg: Indians are disallowing tourists to pay in Dollars, I wonder if my next trip to Africa will also not be in USD. They all want stronger currencies to make more cash!). So we are heading towards globalization alright!
When I went for interviews, people often asked me: "How come you changed jobs this quick?" I said :"Globalization!"
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