Wall Street is booming - Emerging markets are getting dirty

Wall Street is booming, but countries on the periphery are mediocre to dirty. The Russian economy is falling back to 2008 levels. Turkey, Venezuela, Argentina and Indonesia are experiencing traumatic days as currencies, stock prices and voter confidence erode in unison. Investors in the US stock markets should not feel too safe. After countless Russia, Asia and Latin America crises, one knows: The wing beat of a butterfly in São Paulo can create the perfect storm in New York. Source: Steingart's Morning Briefing

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