By Benjamin J. Butler
I am writing from Seoul after a grueling schedule from London, and attending and then speaking at the World Knowledge Forum. There were speakers from all over the world including Tim Geithner, Tony Blair, Leon Panetta, a bunch of ex prime ministers, Don Tapscott, and the founder of AirBnB, amongst others.
Unfortunately this week is going to be a very short note.
What has amazed me is how so many people are still viewing the recent volatility across the world as an emerging market or China phenomenon - at least in public. Few people have been talking about the underlying weakness in the US economy -- that the inventory-shipment ratio significantly worsened and that stocks have merely been held up by stock buybacks in recent years.
Even Nouriel Roubini, one of the stars of the last financial crisis, gave a talk that was very middle-of-the-road, with few risky scenarios ... Log in or subscribe to continue reading.