Mike Shedlock writes about China's dismal showing at the Olympics. No, not on the podium. They did fine there. But the business output was abysmal compared to expectations. In other words, the olympics were a success for the oportunistic government bureaucrats, IOC officials and corporate sponsors. For everyone else it was a disappointment. Will this sort of sentiment carry over to Vancouver and London where hype over the Olympics has also created hugely unnecessary infrastructure projects? Mish answers that question rather convincingly in China's Olympic Sized Bust
Charles Payne wrote about the commodity and equity market corrolations and a potential change in trend with Will Crude, Equities Keep Holding Hands?
Paul Kasriel shows how things in Europe are not looking any brighter than in North America. Read: Kasriel's daily entry. How well will the dollar do with Europe slowing rapidly? Remember the dollar index is 57% composed of Euros.