This past January 2016, upon the publication of my book, ‘Systemic Fragility in the Global Economy’, I gave a 7.5 minute interview to Russia Radio summarizing the condition of the global economy at that time. It’s almost six months later. How have the ‘predictions’ turned out?
China continues to slow. Japan’s currency rises as its economy goes nowhere. Europe stagnates as it waits for Brexit to push it into recession again. Globally real investment, trade, and industrial production are already in recession. Productivity everywhere is declining. Labor market conditions in the US are flashing red, as recession in 2017 approaches. $10 trillion in government bonds are negative, with central banks well along creating a similar problem buying corporate bonds. There are $10 trillion in non-performing corporate loans worldwide and rising. Oil prices are again heading south. China faces another bubble in housing prices and local government investment as it struggles to stem capital flight and approaches another devaluation.
Listen to the interview of five months ago at the link below.