Globalism is lying in it's coffin with a stake poised above it's heart. As I suspected a long , long time ago globalism would end up being nothing but a clever "RACE TO THE BOTTOM" and it appears as the time to test that bottom is upon us.
No body is loaning money, and nobody is buying extra they are world wide into survival mode. Hedge funds which have been the fad of late can't give investors wanting to withdraw their funds what they are owed.
Junk bonds are in terrible shape , stocks have resumed their plunge and perhaps this is the time they don't stop falling for awhile.
No matter where you look around the world problem after problem surfaces, either they are financially in the poor house, or they are deep in a multi year drought, some are out of usable water.
Workers every where are being laid off with few prospects of new work. Industries that have been around for 100's of years are closing their doors , perhaps for good.
Global shipping is in the tank at levels not seen in a long time. Trucking in the US is at a very low point with demand down across the board. Commodities are tanking to levels not seen in ages. As demand for raw material falls users of those materials are laying off people right and left and if trends follow when those industries start back up you can bet they will be using less people and paying them less.
Yet the FED thinks all is rosy and bumped up interest rates a tad and of course the markets started a multi day free fall.. Is this the time the fall doesn't stop , time will tell but I have a feeling the day of reckoning is at hand.
No matter where you look around the world they are either fighting wars or fighting to get their economies going, looking for water sources, fighting raging fires, watching our oceans dying, and critters disappearing off the earth for ever. A lot of these changes are being caused by greedy men looking for ever more loot. All of this brought on us by companies ripping up roots and relocating to another country to take advantages of slave labor and when they start asking for more money they pull up roots once again.
So here we sit approaching a new year with nothing but question marks as to where all this will end. I believe this is going to be a tough year or two and with some kind of luck perhaps new leadership will put us back on a course to better economic health..Let's hope so!