TightWind is written by Kyle Baxter. Stay Hungry. Stay Foolish.

Europe and the U.S. aren’t the only ones facing economic decline:

The Indian economy which gained 6.9% in the second quarter, is expected to grow 7.5% this year, according to Indian finance minister Pranab Mukherjee, against previous estimates of 9% growth. And the Indian Rupee is off 13.14% year-to-date (YTD) against the U.S. dollar, and 13.72% against the euro. The currency has been declining as inflation remains consistently high, driven up by food costs.

Ouch. Moreover, China will be/is hurt by Europe’s struggles, too, because the EU is a huge export partner for them. Unless something significant changes, I think we’re heading toward a global recession.

(Via Tyler Cowen.)