Europe was back in focus this week, even as U.S. markets logged their worst trading period since the start of 2012.
Meanwhile, Q1 earnings season has kicked off.
So investors and traders have a lot to think about.
Wall Street's sharpest economists, strategists, and analysts sounded off on these matters this week.
Most offered the same trite analysis we've read repeatedly.
But some thought outside the box.
Richard Koo: This Is The Critical Chart For 2013
"A chart in Richard Koo's latest monster presentation shows what happened in Japan when they tried fiscal consolidation during their long balance sheet recession.
Both times the economy got dramatically worse, and the deficit EXPANDED. Not only did things get bad, but the theoretical benefit didn't happen either.
Figuring out a way to defuse the 2013 fiscal bomb is critical."
GARY SHILLING: Recession Is Coming, And It's All Due To The Consumer
"The key to his argument is that consumers are getting by on mediocre income growth, and that retrenchment is inevitable, though he acknowledges we haven't seen it so far, and that even high gasoline prices haven't been a problem."
PATRICK CHOVANEC: Not A Single Chinese Company I Talk To Is Experiencing Any Growth This Year
"GDP could in reality only be growing by 4-4.5%, well below official targets of over 7%.
-- There's a big disconnect between official data and other data.
-- Real estate numbers that are vibrant officially do not much what's happening on the ground.
-- When I talk to companies throughout China, there isn't a single one that's seeing an increase in profits or revenues.
-- Most of the people I talk to see a flat year, and they're struggling to see a flat year."
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