With Europe in shambles, Japan beginning their adventure in hyper QE (in an act of desperation,) and China slowing, money has come to the US. The US for a while now has been the prettiest ugly girl (or boy) at the dance.
But the economic tide continues its relentless suck-out. The current is faster or slower at different times, and some areas of the economy are affected in different ways as the sea recedes. But the global trend appears not to have turned, and the USA is part of the globe.
The last two weeks have not been pretty for the ‘it’s different this time’ crowd. Day after day has brough miss after miss in macro-economic data for the US.