The data today were pretty mixed. Brazil is showing more signs of slowing as industrial production there dropped for the third month in a row. What's more is that this puts Brazil back to numbers from 2009 when we were recovering from a global recession. To me the numbers are a clear sign that Brazil is feeling the economic weakness elsewhere. As an aside, I would note that Uruguay has been weakening too although I don't have a link for that.
The rest of the data outside the US also looks weak. In particular, the news that Italy's deficits are widening cannot be seen as good news by anyone who wants to see the euro crisis resolved. We are well beyond the point of doubling down on more austerity in Italy despite the commenta...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.