It is NOT all about Europe

I am so tired of hearing "it is all about Europe". We get it already. What about US? What about China? What about Brazil? What about India? All of these markets are in a bear territory or almost there. All economic reports from fast-growing nations are flashing major warnings. I have been saying it is about Europe many months ago. Now it is about the entire world going into recession or prolonged stagnation. Many of the emerging markets started rolling over in November. Developed markets are catching up now. Europe is just an excuse to sell all markets together. It is way more than about Europe now.