Slow down in the US is finally being felt in other countries, by the time we finally step out of the recession (18-24 months) they will be about just half way over with theirs.
China is in a serious bubble. this is a house of cards big time. if their export engine slows down much, they are screwed.
Brazil is other big bubble.......and will burst like past bubbles Brazil bank shares trading 3 times book price Brazil third world bonds paying 6% and Citicorp perpetual bond yielding 10% Brazil prices have no sense