I don't mean to be an alarmist.
But if you look at the main drivers of the global economy, there are some pretty alarming things happening right now.
(Here's my latest glum column on the subject).
The U.S. economy, the world's largest, is weakening. China, Inc. is hitting some serious bumps in the road. Japan is struggling with an epic human and environmental tragedy. Europe is a debt-ridden nightmare. The Middle East is in turmoil. And on, and on.
Here's a quick rundown:
- The Case-Shiller housing index indicates that the double dip in U.S. housing is getting worse
- Small business confidence is slumping
- Durable goods orders are weakening
- Las Vegas gaming revenue is suddenly down
- Oil prices are surging again
- Austerity measures are hurting the UK economy
- U.S. GDP growth looks terrible
- Initial jobless claims are rising
- Copper futures — a good indicator of future economic growth — are moving lower
- Shanghai stocks are falling, too
- Higher commodities prices are hurting corporate profits
Feeling better now?
I didn't think so.