Global Synchronized Growth Narrative Collapses – Uncle Sam’s Free Money Drying Up Fast, Crisis Brewing In Merging Markets, Libor Continues To Surge

Global stocks sink as soft China data, trade fears weigh

World stocks fell on Tuesday as investors digested soft Chinese economic data and a lack of progress in U.S.-China trade talks, though oil companies were a bright spot as crude hit a three-and-a-half-year high.

Bloomberg predicts recession

Whatever one might think about the U.S. political situation, it’s hard to deny that the economy is doing just fine. In April, the unemployment rate dropped to 3.9 percent, a 17-year low. At this point, there’s a job opening for every unemployed person in the country. Not bad.

In the spirit of seeing the glass as half empty, though, it’s worth asking whether this state of affairs portends something more ominous. For economists, the unemployment rate has always been a lagging indicator: It’s like looking in the rear-view mirror. It tells us where the economy was in the not-too-distant past.

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