[jyl]

Copper breaking to a multi year low.

China growth is 7% according to unreliable government statistics, but detailed numbers look worse; housing prices falling, bad loans growing, central bank injecting money. The core of Europe is in recession or close to it (France, Germany). Russia is in recession with sanctions and an economy dependent on oil. Most of Latin America is dependent on oil production as well as terribly mismanaged. Japan is making a big effort to break out of decades of deflation but progress is uncertain.

The US is trying to be an island of growth but the world is, I think, too interconnected for that. Best case is slow growth in the US, worst case is, well, a lot worse.