Haven't you noted the following:
- Chinese stock markets had a local top some days ago. Whether it is a global top is another question. A Chinese analyst from Merrill Lynch said that the momentum is going out of the market.
- Global inflationary pressure is increasing. Factory prices in USA increasing more than 10 per cent on a yearly basis and Chinese producer prices doing the same. Inflation is also increasing here. Chinese growth rate are damped. Chinese trade surplus decreasing. So two of the greatest locomotives in the world economy have problemes.
- We may be at the start of a global depression and in the worst case a global stagflation.