There is distortion and malinvestment throughout the world economy. It’s everywhere. From Japan to Europe to China to South America to the USA and beyond the economy is misfiring thanks to the massive monetary experiments of the world’s central banks of the past 6 years. (And even before that.)
I have included Matt Kibbe’s succinct analysis of the situation HERE but Kibbe’s essay reminded me of the following speech David Stockman gave in New York in 2012. If you care about what is actually happening in the economy it’s worth a watch.