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"At the same time, input costs have risen markedly, linked largely to higher oil prices. Weak demand has meant companies have been unable to pass these costs on to customers, meaning output prices fell again in September. The combination of higher costs and lower selling prices will inevitably hit profit margins."
"Some good news came from an easing in the rate of contraction in Germany, though the rate of decline accelerated markedly in France and a deepening downturn was also evident in the periphery."
"It remains too early to say, however, whether Germany will continue to buck the trend, especially as it continued to see a strong rate of loss of new orders in both manufacturing and services."
Overall contraction is accelerating. Eurozone countries are deeply troubled. So is Britain. What's coming looks worse than 2008. Deficits keep rising. Budgets are unsustainable. Growth is nonexistent. Bailout costs are rising.
The implication for world economies is clear. They're interconnected. What affects Europe spreads everywhere. Expect worse ahead than 2008.
On September 16, the Global Europe Anticipation Bulletin (GEAB) headlined "The Global Economy Sucked into the Black Hole of Geopolitics," saying:
It's "no longer possible to hide the global economy's tragic state behind the pretext of the 'Euro or Greek crisis.' "All major world economies "are entering recession or slowing growth simultaneously, leading the socio-economic and financial world into a black hole."
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