A few months back, the mantel of pessimism was starting to creep up the stairs. Hedge Fund Managers, politicians, The Euro Zone, the Arab upheaval, the banking crisis, Greece, and the housing market. Recession was called upon to give its blessing once again.
The current indicators were raising the flag of a shift instead of another slowdown. Macro observers have pointed at this phenomenon for the last few years. The BRIC have been suffering a slowdown in GDP growth even though they were the engine that dragged the economy out of the crisis.
Morgan Stanley Emerging Markets predicts it is in places like Indonesia, Philippines, and Nigeria that growth have been outpacing the usual engines. But these markets are not sufficient to propel the world economy one penny.
Among others: Czech Republic, South Korea, Turkey, Poland and Thailand.
There seems to be a new dawn with the US housing market finally up and walking together with the European Union stumbling along after containing and "Regionalizing" Spanish banks. But the American dream is still referred to as "In Peril".
