See if this adds up.

Even though “Retail Expert Davidowitz”, of Davidowitz & Associates, writes in Moneynews that, “I don’t think we’re in a recession right now, but I think there’s a 50 percent chance we’ll be in a recession next year”, he goes on to state that although Wal-Mart issued weak earnings news last week, the company isn’t doing anything wrong.

Then he told Yahoo, “Wal-Mart is a terrific operator. They didn’t suddenly become stupid … The economy is in a state of collapse. That’s what’s going on”. The employment situation illustrates the weakness of the US economy, he explained. Of the new jobs generated this year, 75 percent are low-wage, part-time.

“Business is bad in America,” Davidowitz noted. “Look at our GDP (Gross Domestic Product) growth. We’re growing at 1.5 percent. That means we can’t produce jobs.”

Meanwhile, government debt has exploded to $ 17 trillion, he noted. “We’ve spent all the money, we’ve borrowed all the money and we’re in the tank.” –

“Business is bad in America …we’re in the tank,” he states, but he doesn’t think we’re in a recession now? Maybe he’s not looking too closely at what’s going on in the world.

– From Bloomberg – China Cosco Holdings Co., China’s biggest shipping company, unprofitable in the last two years, faces slowing demand (from US consumers and a consequent glut of vessels) for hauling commodities amid China’s economic slowdown.

– From Lloyd’s List – the August 18 headlined reports:

“Lauritzen signals product tanker exit as group losses soar”

“Torm cuts losses but is still hampered by debt”

“Evergreen Marine posts second-quarter losses”

“US box imports slip in June”

“Thoresen Shipping reports operating loss”

“Wan Hal reports 67% fall in second-quarter net profit” –

[So, what’s all that got to do with us? Everything. It’s called “fallout”. As the Asians told us earlier: “When the US sneezes, everyone catches cold”. And we’re really sneezing right now.]