The downward slide continues – the great revolt will come later
Next year is not going to be better, and one might just stop there. Whatever temporary economic fixes are applied to the eurozone, American deficits and unemployment, the overheated Chinese real estate market, petering Indian reforms or stalling Brazilian growth, the downward slide will continue.
This is because all are symptoms of a structural global economic dislocation that is becoming increasingly disorderly. Yet the second half of this prediction is that politics may be deceptively calm in 2012 – calm before the storm.