“May you live in interesting times” goes the apocryphal Chinese curse. Certainly the world today is the epitome of “interesting times”. Between war in Ukraine, rising food price inflation, and the COVID-19 pandemic, the world has three of the Four Horsemen we represented.
The world's stock markets are certainly a confirmation that we live in interesting times, and that times are set to get even more interesting.
China's markets are down by as much as 31% for the year.
Russia's markets are down even more at 40%.
Even the US is down significantly.
Europe is doing better, with the broad indices down around 8%.
Thus far this year, India's markets are the healthiest, although they are still down slightly.
No portion of the world economy is showing signs of health and vitality, and all portions are flashing warning signals.
Times are likely to get way more interesting in the near future…unfortunately.
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