Morgan Stanley said the United States and Europe are dangerously close to recession. Anyone watching the stock market today can sense there is considerable uneasiness in the smart money crowd.
"Our revised forecasts show the US and the euro area hovering dangerously close to a recession -- defined as two consecutive quarters of contraction -- over the next 6-12 months,"
Readers are encouraged to read the entire article but the upshot is Europe, Japan, and the US can only expected grow at a 1.5% rate in 2012. The bright spot in the global economy are the BRIC countries. Brazil, Russia, India, and China who are predicted to see 6.4% growth for the same year
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