From www.variantperception.com via john Mauldin's www.frontlinethoughs.com. The chart on trade suggest a global trade heart attack. While the news seems to be overly focused on the US, the real story is with the fall-off in global trade. To date, we have not seen a significant move to protectionist policies or acions to depreciate currencies to help trade, but the biggest impact to the gloabl economy wil not be in the housing market but how firms respond to the trade deficit. Now some economies are starting to make a comback but everyone cannot be a winner if global growth is stalled.