The world is seemingly under stress from almost all sides. Lets take a look at a couple of the cross currents in the world, some of which no one is talking about yet. While the US has real problems, we forget that the rest of the world is actively faking it, or worse is starting to break apart at the edges. – Business Insider
Dominant Social Theme: Flying under the radar ... Three trends we don't want you to notice.
Free-Market Analysis: Business Insider's Jack H. Barnes, a former trader and hedge fund manager, has written an article entitled "3 Cross Currents in the Global Macro World." We thought we ought to examine it because we've mentioned these "cross currents" ourselves within the context of elite dominant social themes. Barnes bills himself as a macro-contrarian, whatever that means, but his three currents are easy to understand and defined clearly.
Begin with China. That huge country has now launched a US$400 billion program to fund its shaky municipal governments. Barnes is bemused by the lack of reporting. "Almost no one seems to have noticed or commented on the size of their own internal TARP program," he writes. "The fact that China is bailing out their city governments, should be indication of what is happening below the news fold, as it were. The reality is that even China is feeling the global slowdown pain."