Off The Cuff: Look Out Below!

In this week's Off The Cuff podcast, Chris and Mish Shedlock discuss:

• The Periphery Is Collapsing Fast
  • Emerging market currencies are falling hard vs the US dollar
• China Is Running Off The Rails
  • We're witnessing a bust in progress
• Europe's Black Swan Has Landed
  • A migrant crisis no one saw coming this quickly
• The US Is Sliding Back Into Recession
  • The data is bad and getting worse

Looking ahead, Chris and Mish agree that an era of painful asset deflation is in the process of arriving. Will it be as bad as 2008? Maybe worse — as the underlying issues that caused the 2008 crisis have only been ignored and allowed to fester.

Following our prediction that collapse happens "from the outside in", Chris and Mish note how awfully most of the Emerging Market economies are suffering now. Capital that once sought their higher interest rates is now fleeing, concerned about sovereign risk. China, the world's demand engine, is sputtering badly. Europe is stagnant and now facing a human tsunami of refugees that will tax its social support systems much more than projections have accounted for. And even the "safe haven" US economy is weak and looking weaker as more data comes out.