Yep as I acknowledged earlier the UK has been one bright spot. Ireland is another. But on the whole Western growth is limping along & yet PE ratios & are at elevated levels & US stock markets at record levels & interest rates at zero. The variables for mine don't add up & either growth picks up & interest rates need to rise incurring excessive debt interest burdens on governments & an issue for inflated bond markets. Or growth limps along & equity markets are well over valued.
