Germany exports more to BRICs than France. Ie BRICS do not get rich off West.

4 week moving average of US jobless claims good leading indicator. US markets good bet this year. Far more important than Greece as an indicator.

UK still exports more to Ireland than BRICs. UK needs to export more to BRICs.

Looking at forward PE ie one year ahead consensus USA only 12. Cheap. Allowing for cyclical adjustment india and Italy cheap.