He remains more optimistic than I do about Europe, a view, which i think is disconnected from his perspective on America's economic fortunes. At about min 17, he suggests that Obama may not get re-elected because of globalization, and says "the reality is those jobs aren't coming back." Europe obviously has the same problems as the US and then some, but he seems to think the Euro zone will remain intact.
Also he suggests that the new world order that is evolving, where America's role as the only superpower wanes, will not be good for the multinationals.
Yesterday, I quoted this week's Hussman letter, where he talks about valuation models based on current earnings that are failing to take into account that these earnings are at historic highs. My own intuition is that the low hanging fruit from Chinese off shoring is gone. I have suggested several times in the past year, precisely what the title of Bremmer's book sugggests. This will not be good for corporate profits nor global growth.