Europe Great Brittan are facing the same problems as that of the US you just dont hear it as much the media........ monies interest for expansion are going into Asia being pooled in the Middle East.
The US will not go quickly into the toliet it would take 2/3's of the world Economy with it. Asia needs the US as well as Euro GB to buy it's goods as the vast majority of it's citizens can not afford them.
What we are seeing is a world wide move in manufacturing the established manufacturing countries to emerging countries with lower labor governmental regulation costs. As the jobs go so goes the steady siphoning of that countries wealth into other markets.
Why build it here when I can buy it cheaper over seas? Sounds good in the short run but we are seeing the cost effect of large scale movements of business that have never been seen before.
If you like moving averages plot one of the wealth of all countries your respective country is moving in that direction. Exception being the Middle East as it is benefiting the current oil scenario. A collapse of the world's economy the need for oil no longer exist.
fwiw.
http://www.bloomberg.com/apps/news?p...&refer=economy
http://www.bloomberg.com/apps/news?p...&refer=economy
http://www.bloomberg.com/apps/news?p...&refer=economy
http://www.bloomberg.com/apps/news?p...&refer=economy