The decline of China’s Hang Seng stock index continued down on Monday. The news keeps getting worse.
The cause is the same in both nations. Their central banks inflated, causing an economic boom. This boom created stock market bubbles. Now the booms are turning into busts.
In India, the economy is falling so rapidly that the nation is suffering a trade deficit. Incredible! Here is an Asian nation that has been exporting to the West, now facing a trade deficit. It has to buy food.
The assumption is widespread that the USA can avoid a recession, even though the two largest Asian countries are falling into recession. Europe is in a recession now. The weekend failure of the summit to create a newer, more centralized European Union has thrown a monkey wrench into the New World Order’s plans. Cameron’s resistance saved the day.
The European stock markets fell sharply yesterday. First, Cameron had said all week that he would not cooperate, and he didn’t. The mainstream media in Europe, controlled by the NWO, was desperate to get this EU centralization, at first said he would capitulate, then savaged him for not capitulating. Second, Britain’s politicians started after him. Third, ECB head Mario Draghi did not announce a full-scale round of monetary expansion. He had said so on Thursday, and he did not reverse himself over the weekend.
The European stock markets are up this morning. But Europe’s underlying crisis continues. Italy is still close to a default. Moody’s will probably downgrade the EU’s credit rating.
At present, there is no no light at the end of this tunnel — in Asia or Europe.
Why should we expect a soft landing in the USA?