His entitled to his opinion but I'm similar articles were written back in 2008 and the depths of the global financial crisis and again in 2011 when Europe seemed to be coming apart at the seams.
These are similar challenges but nothing is definite. With lower interest rates we are seeing a pick up in housing and business and consumer confidence and retail figures have been picking up, let's see how things go for retail leading up to Christmas.
The dollar is down to 90 cents and likely to go lower which will help many companies and industries. Commodity prices have not been performing well but iron ore is bucking the trend.
And who knows maybe US economy will continue to recover (the signs are there) and eventually Europe has to bottom out and start to recover. But a big factor for optimism for me is the developing countries where more and more people are moving out of poverty and the middle classes are developing and will drive demand for raw materials.
After decades listening to economic experts I've realized no one has a crystal ball, they get it wrong more often than they get it right in my view, time will tell.
