- The turmoil in the markets is, not surprisingly, matched by a wide variety of perspectives.
- We provide some of the main optimists who argue this is a normal correction. The pessimists think it is something deeper, and the über bears foresee a crash.
- Those that predict a crash see widespread debt deleveraging and resulting deflation, much of it coming from China. The central banks are powerless to stem the tide as they exhausted.