A troubled world economy points to global catastrophe   ...Middle East

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A troubled world economy points to global catastrophe  
Troubles are coming to the world economy — not as single spies, but as battalions. They are doing so on multiple fronts, in the United States, China and Europe. Coupled with renewed geopolitical strains in the Middle East, those troubles heighten the chances of a full-blown world economic and financial market crisis by the middle of next year.  Among the greatest threats to the U.S. and world economic recoveries is the recent spike in U.S. Treasury bond yields, the key interest rate in the world economy. In the short space of two months, the 10-year Treasury bond yield spiked from less than 4 percent to over 4 ¾ percent — a 16-year high. It did so in response to Federal Reserve warning

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