The state of the world, this morning

Two major world events are now happening.
China's stock market is crashing, and Greece is heading toward exit from the EU.
Both have a been long time coming, and both were clearly inevitable from an observer's viewpoint a long way back.
Both contrast each other rather nicely. China's crashing down from an unsustainable high, whereas Greece has been bottomed out for so long, it's a wonder the peninsula hasn't yet sunk into the Mediterranean. China's a superpower, and Greece is the black-sheep relative the EU doesn't want to acknowledge but loves to kick (and then blames for dirtying the EU's shoes with blood).
And yet, both these events each separately have the potential to send the world into another major recession. That they're both happening right now is some crazy mixed up coincidence that only Murphy could have predicted with his usual non-specific understating self.
It'll be bumpy road ahead for the next little while. Make sure to buckle up, and bear down.

Comments

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