Submitted by Constantin Gurdgiev via True Economics blog,
Global growth leading indicators are screaming it, Baltic Dry Index is screaming it, PMIs are screaming it, BRICS are living it, and now Ifo surveys are showing it: global economy is heading into a storm.
The latest warning is from the Ifo World Economic Climate Index.
Per Ifo release:
Richard Haass warns against “Brexit” and makes an unusually frank admission about why he hopes it doesn’t happen:
Even worse, it is highly probable that Americans advocating for a reduced US role in the world would seize on Brexit as further evidence that traditional allies were not doing their fair share, and that a US facing growing deficits and massive domestic needs should not be expected to make up the difference.
Submitted by Bill Bonner of Bonner & Partners (annotated by Acting-Man.com's Pater Tenebrarum),
“Massive Deterioration” – Worse Than 2008
The Dow is down by almost 9% since the start of the year.
“These developments, if they prove persistent, could weigh on the outlook for economic activity…” proffered a nervous-looking Janet Yellen in her testimony on Capitol Hill. She was signaling to investors.
Smoke signals…
Mario Draghi is set to address the European Parliament's Committee on Monetary and Economic affairs in Brussels on Monday.
Draghi's comments will of course be parsed for any hints as to what the ECB will do next month, when Draghi is expected to announce further easing, either in the form of another rate cut or an expansion/extension of PSPP.
The first shot in the global war on cash was just fired, by none other than the ECB, which moments ago Handelsblatt reported...
ECB wants to stop issuing 500 Euro bills - our exclusive https://t.co/LLe2qyhBjK
— Daniel Schäfer (@schaeferdaniel) February 15, 2016