The below is interesting trend, a chart from Prof Makinw’s blog as his thanksgiving gift, so my interpretation the world economic trend as:
1). Middle East & Africa: dol dol dol…dol dolll…ul…, calm even vanilla syndrome.
2). Latin America: dill dil... diol..hu diol…dol..dil doll…dolll… matter of fact obligatory syndrome.
3). Asia/Oceania: dall…dall…dalll up…up up dul up dul up dul down dul up dup du hard core indecent syndrome
4). USA: dual dual down dual up dal down dup up dam down dam up up down won down…jittery sudden syndrome.
5). EU15: dod down down dul down down dul up donw own droopy down syndrome.