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Emerging Market Macro Misery Back At Post-Crisis Highs
Based on inflation, unemployment, growth weakness, and cost of capital, Goldman notes that emerging market's "macro-misery" indices have pushed back to post-financial-crisis highs.
It is hardly a surprise that macroeconomic hardship is surging since in the 15 years since the EM sovereign bonds have been liquid, levels remain extremely elevated, despite the mainstream-media's relegation of the problem.
(click image for large legible charts)
As Bank of Mexico's Agustin Carstens warns, "we cannot rule out the event that some advanced economies run into deeper trouble again... the world economy is still in a fragile situation."
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"we cannot rule out the event that some advanced economies run into deeper trouble again... the world economy is still in a fragile situation."
ya think?
Whaz he know?
Therez a buncha guyz on Bloombergz saying how the emergin mahketz iz dah place ta beeeez.
So whoz we gonna believez, eh?
Advanced???? As in terminal stages, perhaps. Otherwise, it's full-retard.
There's "signs of a recovery"..ok, it's "officially a recovery"...no wait, it's a "fragile recovery"...scratch that, we're "moving towards a recovery"...on second thought, we "should be moving towards a recovery beginning next year"...better yet, "sometime around the mid-terms we should see the recovery"...
"when a Republican's back in the White House, there will be signs of a recovery"..."when your grandchildren are eligible to collect Social Security, there will be a recovery"..."When Jesus returns to earth, the recovery will start"...
It's all sounding a little schizophrenic to me...and it seems like the "green shoots and hopium" crowd is trying to drown us in bullshit.
That be fiat we are drowning in.
I got a great idea....lets print Moar!
...Taper-off FOREVER!
Those Bloombergz guys ain'tz neverz heard O no reversionz to the mean, yo!
I try not to do so. It hurts too much. Way too much.
and tell me again where the emerging market index is EEM? not at all time highes but certainly not at depression levels...
"we cannot rule out the event that some advanced economies run into deeper trouble again... the world economy is still in a fragile situation."
No Shit? Really?
/sarc
Does anyone really know what the fuck is going on? Here we have Goldman talking about macro misery indices. What I'd like to know from Goldman is how much macro misery is lurking in all that unregulated & unaudited shit they've got 'off balance sheet'? You can't smell shit when it's 'off balance sheet' right?