Will prices go up - inflation? Or will they go down - deflation? Is there some way to predict trends? How? Someone once said that if all the economists in the world were laid end to end they would never reach a conclusion. Well, it just got harder for them do so. Prices in the US and economic trends are now dependent on what is happening in India. Monetary policy is affected by trends in China. Problem is - the Fed still makes their predictions based on domestic factors alone. Something is missing in this picture, no? What happens if...