American contagion?

Today I read in the New York Times:

"A decade after a credit crisis in Southeast Asia triggered an “Asian contagion” of stock market declines around the world, the credit crisis in the United States is now producing an “American contagion” to which no stock market seems immune."

"He added that he did not believe that Asian economies had decoupled at all from the American economy, because so many companies now have closely integrated operations around the world."

Last night a friend of mine invited me to join a company with Asian and Mexican operations.

Is the US bringing everybody down?

I do not think so, and here is why.

I may have to pay a lot for the mortgage of the house I live in, but if I go back to Mexico, I own my house. I do not have to pay a lot. Besides problems there are different than problems here. I have not been to China, but my friend just started an operation there. I cannot imagine similar conditions everywhere. At most some very important actors are being affected by changes, they will have to adapt.

I see one common problem, that all of us will have to adapt to though, Global Warming.

Maybe that will be an equalizer. We better watch out.