Everyone is pointing to the China stock downturn, but moderating it and trying to point the finger at the issues between Saudi Arabia and Iran.
China is the real problem and here's why. They just suffered their 10th month of declining industrial output. That's signalling at least a recession in that country and problem a couple of others.
Oil surged because the speculators were looking for an excuse to raise the price, but that didn't last long. Economic reality is becoming apparent to all. The US consumer is tapped out and no one is buying Chinese widgets. Europe isn't doing much better and the outlook for everyone is grim.
A global economic turndown? I think its VERY possible. 2016 is going to be the year of the terrorist, immigration issues and the economy.
The President will not have the final year he envisioned.