The oil price will go up, until China has filled every available oil tanker, barrel and orifice, paid with their stocks of USD. Same goes for iron ore, gold, corn, and any other commodity that can be had for anyone with USD reserves. Once every storage space is full, the USD will plummet - as will commodities, or not? Maybe they will have no direction, unless you have the right barter.
The swine flu is threatening if not mankind, possibly the travel industry. But then again, dire predictions say it will come back with a new genetic code this fall, possibly killing most of us.
Mexican oil production drops 18%.
Stock markets are on the edge again, after all that good money (USD 2 trill?) now appear unable to keep up the steam pressure.
Japans exports are down 25% yoy, its car, electronics and engineering industry idling.
The US car industry is in its death throes - its electronics and engineering industries are outsourced to chindia and does not really excist anymore anyway, so less headaches there!
The housing bubble is continuning its deflation.
Only a few food exporting countries remain on the world market, as financing, fertilizer prices, drought and politics make this form of "Global Economy" and JIT fail spectacularly.
UK credit rating may drop from AAA.
Jobless numbers in countries with reasonable statistics are increasing at an unprecedented rate.
The Talking Heads and PPT's do their best to mitigate, and reassure in soothing tones that we have business as usual, all systems are working, we have green sprouts everywhere.
Regardless, people are getting worried it is all coming to an end, but there is one more evasion opportunity: WATERBOARDING!
Yes, the last weeks has been saturated with Dick Cheney, torture, DC, "enhanced interrogation techniques", DC, national security, DC, saving American lives, etc etc. DC, after being silent for 8 years, finally comes out of his shell, talking endlessly about the only subject he ever cared about; torture light, and the firm belief that the lack thereof will bring the American sivilization down!
Well, conveniently it steals the headlines from all of the aforementioned that very well may just do that after so many years of mismanagement.
In my view this whole excercise qualifies as a Giant Red Herring.