|It's a movie title but it might as well|
describe the global economy.
As I said earlier, there will be no cavalry to save bail out the world economies. Individuals might do alright, however, when the entire western world struggles, and the allegedly most dynamic developing nations struggle, it will be hard for nations to not be severely affected.
Brazil is struggling as they endure manufacturing layoffs.
The Indian government is white washing their economic news.
Euro-zone nations now see unemployment highs.
Japanese corporations are pesimistic
Russia was the only BRIC nation that I couldn't find economy news using a cursory google search. But considering that Russias economy is heavily based on petroluem and mineral exports to the more advanced industrial economies of Europe like France and Germany. Then you also have to think of Australia which have relied heavily commodity exports, such as copper which the Chinese have slowed or stopped certain purchases all together, and with the slowdown of the economy means a decrease in demand for their goods.
Now that the hair of the dog is running out get ready for an epic hangover.