Weak World

With Swiss and French economic growth flat in Q2, Germany’s economy shrinking by 0.2% last quarter, Italy in its third recession since 2008 and its economy no bigger than it was in 2000, and now reduced Europe-wide growth from tit-for-tat Russian/E.U. sanctions, Europe is in trouble. Add to that Brazil being in recession, and China’s rate of growth weakening, and suddenly the slowly improving U.S. economy looks relatively good.