The Digital Skeptic: 'Trapped Cash' Stifles Global Economy
NEW YORK (MainStreet) -- The biggest problem with global markets might be that markets are not that global after all.
Ever wonder why the Dow has wobbled between 12K and 13K for, what, three years now? Sure, there's Greece, Italy, Spain, lame factory reports, bum debt and the other monsters lurking.
But strictly speaking, flat markets flatly make no sense. The world has never, ever been richer. Just look at what amounts to the GDP box scores the International Monetary Fund posts on what each country makes. At least by country, the global village is faring pretty darn well.
Of 184 countries, only seven -- seven! -- had negative growth.
Don't believe me? Go look. The IMF posts all the data, all the way back to 1980. You can estimate out to 2017 if you need to get in touch with your inner quant.
If you take a random tour of the global community, you'll see real oomph in this upside. Take Iraq. Its GDP jumped by a world-beating 78% in the past two years. And getting in a staring contest with the U.S. is not the only secret to prosperity. Mongolia grew by 75% from 2010-12. Sierra Leone, one of the planet's most impoverished countries, grew by 72%. Itty-bitty Kiribati had a nice GDP bump of 27%. And colossal China supersized itself by 35%.