Mish's Global Economic Trend Analysis is predicting just that in the most straightforward terms yet:
A worldwide recession is coming. China, India, Brazil, and third world economies simply cannot pick up the slack for the US, UK, EU, and now New Zealand. For more on the situation in the US and UK please see Deflationary Hurricanes to Hit U.S. and U.K.
Admittedly New Zealand is just a tiny cog in the global economy. Nonetheless it offers confirmation of things seen elsewhere.
Australia and Canada will follow in a mind boggling drop once the air is let out of the China commodities balloon. Brace for a worldwide hard landing. One is coming.
