Global recession with a surprise winner or two
The Eurozombies may avoid catastrophe but instead produce a macroeconomic remake of Night of the Living Dead. Recession in austerity-bound Europe will only be worsened by the sweeping downturn already taking place in the emerging world, and the result could be a deeper slump worldwide. But here's the twist: the United States will win, as it is a destination for those in the midst of one of the most confusing, frustrating flights to quality in recent history. Japan too. They won't do very well at all, but in the global ugly contest they may take home least-ugly honors.
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