Everywhere, the share of wages and incomes began to fall as a proportion of GDP.

And, in key markets around the US, four years into the housing slump, home prices continue to fall.

Now that prices are falling, the genius strategies don t seem quite so brilliant.

As concerns about deflation replaced fear of inflation, gold prices started to fall with the correction in commodity prices.

Similarly, Chinese residential investment and commercial real estate activity are slowing sharply as home prices start to fall.

But, as the marginal productivity gains from such investment began to fall, senior managers survival and compensation continued to be tied to stock market performance.

Italian bond rates had already been falling before ECB President Mario Draghi announced the conditional bond buying plans.

The fall in house prices pushed down sales of both new and existing homes. That, in turn, caused a dramatic decline in the volume of housing starts and housing construction.

Fall time

And the plunge is accelerating.

Italy s Downward Spiral

The landing was perfect.

Fourth, India claimed that two multilateral aviation conventions and a bilateral treaty providing Pakistan overflight and landing rights in India had been suspended in 1971 by the hostilities between India and Pakistan that began in 1965.

When the US housing market started to turn south, the biggest underwriters (such as Countrywide) did not go bankrupt right away, because they had sold the vast majority of their loans to the CDO market.

And gold is following the fall in actual and expected inflation.

Of course, because the US economy has grown faster than military spending, the share of GDP dedicated to military expenditures has fallen over the years.

The approval ratings for Russia s president and prime minister are heading south.

The case for a soft landing remains solid.

I woke her up and talked to her about the landing she was going to have to make by hand. .

How much further will the dollar fall? Or has it already fallen so far that it will now start to move back to a higher level?

These hard landing scenarios are extreme.

Takeoff is the opposite of landing.

The growth rate of M1 started to fall in late 2009.

As a result, income inequality in Brazil is declining.

And that fall in monetary velocity brings on a recession.

Just as the soft landing in early 2009 occurred in the aftermath of a horrific American made crisis, this latest one followed the European sovereign debt crisis.

It will help in identifying the best landing sites.

The subsequent recovery was slow and incremental.

But the fall is larger.

The same cycle in reverse order applies when landing.

It has been shown that levels of abuse continue to decrease in this part of the sector.

This is effectively the last chance to prevent the next black swan from landing.

A cascade of declines in other countries immediately followed.

On both counts, confidence is undermined, and a downward spiral is set in motion.

But, as the marginal productivity gains from such investment began to fall, senior managers survival and compensation continued to be tied to stock market performance. As a result, many simply learned to manage their companies short term share price at the expense of attention to their products and customers.

Unless the US economy improves its trade balance, the dollar will fall.

In the 1960s, Kuiper helped identify landing sites on the Moon for the Apollo program.

But there is nothing to stop the decline from continuing once it reaches that point.

That bubble has burst.

All of these drops were eventually reversed, and all of these markets have boomed recently.

The region s economies have contracted, owing to a sharp drop in tourism revenues and disruptions of production and trade.

Planes are not allowed to taxi, take off or land on blast pads, except in an emergency.

Although the practice is slowing declining, arranged marriages continue to occur.

So how low can the dollar sink? By my calculations, the dollar still needs to go down another 15 if the US trade deficit is to go back towards balance.

But the odds on a soft landing are lengthening with each passing day.